Financial Series I - Microsoft Business Solutions – Axapta

Introduction

Audience

At Course Completion

After completing this course, students should be able to:

• Set up the General Ledger, Accounts Payable, Bank, and Accounts Receivable modules in Microsoft Axapta.
• Set up Sales Tax.
• Reconcile a bank using Microsoft Axapta.
• Enter transactions in journals - including invoices and payments.
• Use inquiries and reports to get the information you wish to access.

Prerequisites

• Basic knowledge of accounting principles.
• An understanding on how to navigate within Microsoft Axapta.

In addition, it is recommended, but not required, that students have completed:

• The Microsoft Axapta Introduction course

Course Outline

Chapter 1: Basic Setup

The purpose of this chapter is to teach students the minimum setup they need to perform in order to run Microsoft Axapta modules. Since Microsoft Axapta is a highly integrated system, the setup performed here is a base not only for the modules discussed in this class, but also for additional modules that utilize the Microsoft Axapta General Ledger. Currency setup is introduced along with the concept of financial dimensions.

Lessons

• Currency Setup
• Exchange Rate Setup
• Dimensions

Lab: Currency Setup

• Enter a new currency

After completing this module, students should be able to:

• Understand the procedures to follow when setting up a new currency.
• Understand how to enter the exchange rates for a currency.
• Understand the role of dimensions in Microsoft Axapta.
• Understand the relationship between dimensions and other modules.
• Understand how to create and maintain dimensions.

Chapter 2: General Ledger Setup

This chapter focuses on the setup of the General Ledger in Microsoft Axapta. A recommended setup checklist is introduced at the beginning of this chapter that is meant to guide the students through the minimum setup required for the Microsoft Axapta General Ledger to function. The students get their first exposure to parameters which are highly important setup forms within most Microsoft Axapta modules as well as their first exposure to journal setup.

Lessons

• General Ledger Setup Checklist
• Period and Fiscal year Setup
• Chart of Accounts
• Journal Setup
• System Accounts
• General Ledger Parameters

Lab: Journal Name Setup

• Setting up a Journal Name.

Lab: General Ledger Parameters

• Customizing the General Ledger

After completing this module, students should be able to:

• Create a new fiscal year.
• Create and set up journals and journal texts.
• Set up system accounts for automatic transactions.
• Set up ledger parameters.

Chapter 3: General Ledger Daily Procedures

This chapter focuses on the transactions entered in the General Ledger. Students may discover how to enter a General Ledger transaction in a journal as well as how to post that transaction. The transaction entry forms are discussed as well as the different types of entries that can be created. The process of posting a transaction to the ledger is also be covered.

Lessons

• General Information on Journals
• Entering General Ledger Transactions
• Posting General Ledger Transactions
• Periodic Journals
• Inquiries and Reports from Daily Journal Voucher Window

Lab: Daily Transactions

• Entering Daily Transactions

Lab: Periodic Transactions

• Entering Periodic Transactions

After completing this module, students should be able to:

• Understand the different transaction entry windows and how to use them.
• Know how to create periodic journals.
• Know how to print edit lists and post transactions.

Chapter 4: General Ledger Reports and Inquiries

This chapter explores the different reports and inquiries available in the Microsoft Axapta General Ledger. By learning the different methods of inquiries available either via forms or the menus, students gain an understanding of how easy it is to drill down into transactions within Microsoft Axapta. They are also shown how to run basic General Ledger reports such as account statements. Financial statement creation is not covered in this course, but students are able to run existing statements at the completion of this chapter.

Lessons

• Inquiries
• Reports

After completing this module, students should be able to:

• Understand how to perform and view inquiries in the Microsoft Axapta General Ledger module.
• Understand how to create and print reports in the Microsoft Axapta General Ledger module.

Chapter 5: Bank Management Setup

This chapter focuses on the setup of the Bank module in Microsoft Axapta. Logically you need to have a bank account before you can create a check to pay an invoice. This chapter explores how to set up banks and bank accounts within Microsoft Axapta as well as how to format the checks that print. A suggested checklist is provided at the beginning of the chapter to provide students with a list of set up procedures necessary to the setup of the Bank module.

Lessons

• Bank Management Setup Checklist
• Bank Management Parameters
• Bank Transaction Types
• Bank Transaction Groups
• Bank Groups
• Bank Accounts
• Check Setup

Lab: Creating Checks

• Create checks within a bank account.

After completing this module, students should be able to:

• Create a bank account within Microsoft Axapta.
• Create bank transaction types.
• Set up a check layout for a bank account.

Chapter 6: Bank Management Reports and Inquires

The focus of this chapter is the reports and inquiries available with the Bank module. Students may find how easy it is to track a payment within the system by using drill down capabilities.

Lessons

• Inquiries
• Reports

After completing this module, students should be able to:

• Perform inquiries in the Microsoft Axapta Bank module.
• Create and print reports in the Bank module.

Chapter 7: Accounts Payable Setup

The purpose of this chapter is to discuss the setup of Accounts Payable within Microsoft Axapta. The chapter starts with a recommended checklist for the setup of Accounts Payable. The students are then shown the importance of setting up vendor groups and posting profiles. The chapter concludes with a discussion on how to set up payment terms and other payment items necessary for Accounts Payable.

Lessons

• Accounts Payable Setup Checklist
• Vendor Groups
• Accounts Payable Posting Profiles
• Accounts Payable Parameters
• Accounts Payable Vendor Setup
• Accounts Payable Payment Setup

Lab: Vendor Posting Profile

• Entering a vendor posting profile.

Lab: Vendors

• Setting up a vendor.

After completing this module, students should be able to:

• Set up the various parameter options in Accounts Payable.
• Set up posting profiles.
• Set up vendor groups.
• Set up and maintain vendor accounts.
• Set up the various payment options for Accounts Payable.

Chapter 8: Accounts Payable Daily Procedures

This chapter focuses on the different journals available in Microsoft Axapta Accounts Payable. The four different ways of entering Accounts Payable invoices are discussed and the processes of three are covered. The fourth process – purchase order invoice update – is outside the scope of this class. After completion of this chapter, the student should be able to identify what journal is appropriate for a business process as well as how to create checks and issue payments.

Lessons

• Invoice Register
• Invoice Approval Journal
• Invoice Pool Excluding Posting
• Invoice Journal
• Payment Journals

Lab: Invoice Journals

• Entering invoices and payments in Accounts Payable.

After completing this module, students should be able to:

• Understand the flow of an invoice through the different Invoice Journals available in Microsoft Axapta.
• Know how to enter and post invoices in each of these journals.
• Be able to create a journal line and enter the payment details manually.
• Be able to use the Functions button and select Settlement.
• Be able to use the Payment proposal button.

Chapter 9: Accounts Payable Record Maintenance

This chapter explains how to work with paid and unpaid transactions within Microsoft Axapta Accounts Payable. The student is shown how to apply credits to invoices using open transaction editing as well as how to reverse a payment using closed transaction editing.

Lessons

• Open Transaction Editing
• Closed Transaction Editing

After completing this module, students should be able to:

• Navigate to existing records in Accounts Payable.
• Be familiar with editing open and closed transactions in Microsoft Axapta.

Chapter 10: Accounts Payable Reports and Inquiries

This chapter covers the reports and inquiries available for Accounts Payable. Students again see the drill down capabilities in Microsoft Axapta as well as the reports that are available.

Lessons

• Inquiries
• Reports

After completing this module, students should be able to:

• Understand general navigation to reports and inquiries in Microsoft Axapta.
• Understand basic functionality of standard Microsoft Axapta report and inquiries.
• Understand basic sorting and options of Microsoft Axapta reports and inquiries.

Chapter 11: Bank Reconciliation

The purpose of this chapter is to walk the students through how to reconcile a bank account within Microsoft Axapta. Students learn how to enter a bank statement as well as how to reconcile that statement against the bank accounts.

Lessons

• Entering Bank Account Statements
• Reconciling a Bank Account

After completing this module, students should be able to:

• Understand the process of reconciling a bank statement in Microsoft Axapta.

Chapter 12: Sales Tax

The focus of this chapter is sales tax set up. The chapter begins with a conceptual overview of the requirements of setting up sales tax. The students then learn how to set up the different components of sales tax. At the completion of this chapter, students should be able to utilize the concepts they learned to set up tax to accommodate several regions and countries.

Lessons

• Tax Information – Calculating Tax
• Sales Tax Codes
• Sales Tax Groups
• Item Sales Tax Groups
• Ledger Posting Groups
• Sales Tax Authorities
• Sales Tax Settlement Periods

Lab: Sales Tax Setup

• Vendor Setup
• Tax Setup
• Enter a Taxable Invoice

After completing this module, students should be able to:

• Set up tax codes
• Create sale tax authorities
• Set up and create sales tax settlement periods
• Understand what is used to calculate taxes

Chapter 13: Sales Tax Reports

This chapter demonstrates the different sales tax reports available in Microsoft Axapta.

Lessons

• Creating and printing reports

After completing this module, students should be able to:

• Understand how to create and print sales tax reports.

Chapter 14: Accounts Receivable Setup

This chapter covers how to set up the Accounts Receivable module in Microsoft Axapta. The set up of Accounts Receivable is almost a mirror image of the set up of Accounts Payable. Therefore, the main topics that are covered are specific to Accounts Receivable or are covered as a review from Accounts Payable.

Lessons

• Accounts Receivable Setup Checklist
• Customer Groups
• Accounts Receivable Posting Profiles
• Accounts Receivable Parameters
• Customer Setup
• Accounts Receivable Payment Setup

Lab: Customer Groups

• Entering a new customer group.

Lab: Customer Posting Profile

• Entering a customer posting profile.

Lab: Customers

• Entering a new customer.

After completing this module, students should be able to:

• Set up the various parameter options in Accounts Receivable.
• Set up posting profiles.
• Set up customer groups.
• Set up and maintain customer accounts.
• Set up the various payment options for Accounts Receivable.

Chapter 15: Accounts Receivable Daily Procedures

The focus of this chapter is the journals available for invoice entry within Accounts Receivable. The student learns how to enter a Free Text (non inventory) invoice as well as how to receive payment against an invoice.

Lessons

• Free Text Invoice
• Payment Journal

Lab: Invoices

• Entering an accounts receivable invoice.

Lab: Settlements

• Entering an accounts receivable payment journal (cash receipt).

After completing this module, students should be able to:

• Understand the flow of an invoice/journal through the different invoice journals available in Microsoft Axapta receivables.
• Know how to enter and post invoices in each of these journals.

Chapter 16: Accounts Receivable Record Maintenance

This chapter explains how to work with open and closed transactions in Accounts Receivable. Students learn how to apply unapplied cash to an invoice using open transaction editing as well as how to reverse a misapplied payment using closed transaction editing. The chapter concludes with a discussion on how to run a reimbursement to a customer by creating an Accounts Payable invoice from Accounts Receivable.

Lessons

• Open Transaction Editing
• Closed Transaction Editing
• Reimbursements

After completing this module, students should be able to:
• Understand how to perform open transaction editing in Accounts Receivable.
• Understand how to perform closed transaction editing in Accounts Receivable.
• Understand reimbursements and how to process them.

Chapter 17: Accounts Receivable Reports and Inquiries

This chapter explains how to perform accounts receivable inquiries and reports in Microsoft Axapta.

Lessons

• Inquiries
• Reports

Lab: Statement

• Printing a customer statement.

After completing this module, students should be able to:

• Understand how to perform and view inquiries in the Microsoft Axapta Accounts Receivable module.
• Understand how to create and print reports in the Accounts Receivable module.

Appendix: Case Study

This appendix contains a case study that is meant to complete the course. The case study is designed to give the student some hands on experience in setting up the topics covered in the course. Upon completion of the case study, the student should be able to perform basic General Ledger, Bank Management, Accounts Payable, and Accounts Receivable setup in a new company.

Lab: Test Your Knowledge – Case Study

• Part 1: Company Setup
• Part 2: Financials Setup
• Part 3: Transaction Entry

After completing this module, students:

• Have experienced setting up the Financial Management modules within Microsoft Axapta.