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Microsoft Dynamics AX 4.0 Financials I
Course 8629: Three days; Instructor-led

Introduction

This three day course explores the basic financial functionality available in Microsoft Dynamics AX. Students learn how to set up the General Ledger, Accounts Payable, Accounts Receivable, and Bank Modules of Microsoft Dynamics AX, as well as how to create transactions. Labs encompassing the topics covered allow the students hands on practice in setting up financials in Microsoft Dynamics AX. Students completing this course should acquire a good basic understanding of the General Ledger, Accounts Payable, Accounts Receivable, and Bank Modules.

Audience

This course is intended for individuals who are on the implementation team, administering or using the financial management modules in Microsoft Dynamics AX. This audience typically includes individuals who are tasked with assessing a customers business needs and advising them on the use, configuration and customization of the application. Additionally, individuals responsible for training or supporting Microsoft Dynamics AX benefit from this course.

At Course Completion

After completing this course, students will be able to:
• Create and set up the Chart of Accounts, General Ledger, Accounts Payable, Accounts Receivable and Bank modules, and Financial Statements in Microsoft Dynamics AX.
• Set up Sales Tax.
• Understand the General Ledger, Accounts Payable, Accounts Receivable, and Bank Management daily procedures.
• Enter transactions in journals - including invoices and payments.
• Access inquiries and reports to get information needed.

Prerequisites

Before attending this course, students must have:
• Basic knowledge of accounting principles.
• An understanding on how to navigate within Microsoft Dynamics AX.

In addition, it is recommended, but not required, that students have completed:
• The Microsoft Dynamics AX Introduction course

Microsoft Certified Professional Exams

This course will help the student prepare for the following Microsoft Certified Professional exam:
• Exam (The W1 prefix indicates the world wide version of the exam. Before taking the world wide exam: verify whether a localized exam would have the same name but the exam prefix would correspond to the localized version.)

Course Materials

The student kit includes a comprehensive workbook and other necessary materials for this class.

Course Outline

Chapter 1: General Ledger Setup

This chapter explains the setup of the General Ledger in Microsoft Dynamics AX. It shows how to setup a company currency, additional currencies and exchange rates. It also explains how to create periods, a new fiscal year, dimension value, and a dimension focus.

Lessons
• Set up a Currencies and Exchange Rates
• Create Periods in a New Fiscal Year
• Create Date Intervals
• Create a Dimension Value
• Create a Dimension Focus

Labs
• Lab 1.1: Enter a Currency and Print the Currencies
• Lab 1.2: Create Periods in a New Fiscal Year
• Lab 1.3: Date Intervals
• Lab 1.4: Assign Ledger Account Dimension Value
• Lab 1.5: Create a Dimension Focus and Print the Dimension Statement

After completing this module, students will be able to:
• Set up a company currency and exchange rate.
• Create periods and a fiscal year.
• Create a dimension value, and a dimension focus.

Chapter 2: Chart of Accounts

This chapter explains the setup of the Chart of Accounts. It also shows how to create and set up account allocation terms, system account, and view inquires and reports about the Chart of Accounts.

Lessons
• Create a New Account in the Chart of Accounts (COA)
• Set Up Account Allocation Terms
• Set Up System Accounts
• View Inquiries and Reports Related to the Chart of Accounts

Labs
• Lab 2.1: Enter a General Ledger Account
• Lab 2.2: General Ledger Total Account
• Lab 2.3: Account Allocation Terms

After completing this module, students will be able to:
• Create a new account in the Chart of Accounts in Microsoft Dynamics AX.
• Set up account allocation terms, and system accounts.
• View inquiries and reports related to the Chart of Accounts.

Chapter 3: Journal Setup

This chapter explains the Journal setup. It shows how to create and work with journal names, journal controls, journal texts, and how to set up balance control accounts, and General Ledger parameters.

Lessons
• Create Journal Names
• Set Up Journal Controls
• Create Journal Texts
• Set Up Balance Control Accounts
• Set Up General Ledger Parameters

Labs
• Lab 3.1: Setting Up Journals

After completing this module, students will be able to:
• Create journal names.
• Set up journal controls.
• Create journal texts.
• Set up balance control accounts.
• Set up general ledger parameters.

Chapter 4: General Ledger Daily Procedures

This chapter explains the transactions entered in the General Ledger. It shows how to create general journals, enter and post General Ledger journal transactions, post multiple journals, create approval journals, period journals, and retrieve period journals. It also explains General Ledger transaction reversal and the inquiry and reports about General Ledger journal transactions.

Lessons
• Create General Ledger Journals
• Enter General Ledger Journal Transactions
• Create Journal Batch Processing
• Create Approval Journals
• Create and Retrieve Periodic Journals
• General Ledger Transaction Reversal
• Inquire and Report on Daily Journal Transactions

Labs
• Lab 4.1: Daily Transactions
• Lab 4.2: Daily Transactions with Dimensions
• Lab 4.3: Daily Transactions with Balance Control
• Lab 4.4: Post All Open Vendor Payments
• Lab 4.5: Setting Up a Journal for Approval
• Lab 4.6: Entering Periodic Transactions

After completing this module, students will be able to:
• Enter General Ledger journal transactions.
• Create journal batch processing.
• Create approval journals, and period journals.
• Retrieve period journals.
• Understand the General Ledger transaction reversal process.
• Inquire and report about General Ledger journal transactions.

Chapter 5: Sales Tax Setup

This chapter explains the sales tax set up. It also explains how to set up the different components of sales tax, and sales tax exempt data, and how to calculate and post withholding sales tax.

Lessons
• Create Ledger Posting Groups
• Create Sales Tax Authorities
• Create Sales Tax Settlement Periods
• Create Sales Tax Codes
• Create Sales Tax Codes Intervals
• Create a Sales Tax Groups
• Create Item Sales Tax Groups
• Create Sales Tax Transactions
• Create Sales Tax Exempt Data
• Calculate and Post Withholding Sales Tax

Labs
• Lab 5.1: Create a Ledger Posting Group
• Lab 5.2: Create a Sales Tax Authority
• Lab 5.3: Create and Assign a Vendor to the Sales Tax Authority
• Lab 5.4: Set Up of Sales Tax Settlements
• Lab 5.5: Calculation Methods for Sales Tax Codes
• Lab 5.6: Set Up Sales Tax Codes Intervals
• Lab 5.7: Comprehensive Set Up of Sales Tax
• Lab 5.8: Including Sales Tax in Journal Amounts
• Lab 5.9: EU 115 Sales Tax Directive

After completing this module, students will be able to:
• Create ledger posting groups.
• Create sales tax authorities.
• Create sales tax settlement periods.
• Create sales tax codes.
• Create sales tax codes intervals.
• Create a sales tax groups.
• Create item sales tax groups.
• Create sales tax transactions.
• Create sales tax exempt data.
• Calculate and post withholding sales tax.

Chapter 6: Sales Tax Reports

This chapter explains how to create and print sales tax reports available in Microsoft Dynamics AX.

Lessons
• Creating and Printing Report

Labs
• None

After completing this module, students will be able to:
• Create and print sales tax reports.

Chapter 7: Bank Management Setup

This chapter explains the setup of the Bank module in Microsoft Dynamics AX. Logically, a bank account is needed before creating a check to pay an invoice. This chapter explains how to setup bank transaction types and transaction groups, bank groups, and bank parameters. It also explains how to create a bank account, and defines the check layout for a bank account.

Lessons
• Set Up Bank Transaction Types and Transaction Groups
• Set Up Bank Groups
• Set Up Payment Purpose Codes
• Set Up Bank Parameters
• Create a Bank Account
• Define the Check Layout for a Bank Account

Labs
• 7.1: Create Bank Transaction Types and Groups
• 7.2: Create a Bank Group and Bank Account
• 7.3: Define a Check Layout

After completing this module, students will be able to:
• Set up bank transaction types and transaction group.
• Set up bank groups.
• Set up payment purpose codes.
• Set up bank parameters.
• Create a bank account.
• Define the check layout for a bank account

Chapter 8: Accounts Payable Setup

This chapter explains the setup of Accounts Payable within Microsoft Dynamics AX. It explains the importance of setting up vendor groups and posting profile, and shows the different Accounts Payable setup option, procedures, and defaults related to vendor payments.

Lessons
• Create a Payment Schedule
• Create Terms of Payment
• Create a Payment Day
• Set Up Cash Discount
• Create a Payment Fee
• Create a Method of Payment
• Set Up Vendor Groups
• Set Up Posting Profiles
• Create a New Vendor

Labs
• Lab 8.1: Terms of Payment
• Lab 8.2: Method of Payment
• Lab 8.3: Vendor Groups
• Lab 8.4: Vendor Posting Profile
• Lab 8.5: Vendors

After completing this module, students will be able to:
• Create a payment schedule.
• Create terms of payment.
• Create a payment day.
• Set up a cash discount.
• Create a payment fee.
• Create a method of payment.
• Set up vendor groups.
• Set up posting profiles.
• Create a new vendor.