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Microsoft Dynamics AX Financials II
Course 8637: Two days; Instructor-led

Introduction

This two-day course explores the advanced financial functionality available in Microsoft Dynamics AX. Some of the topics covered include the set up and usage of budgeting, cash flow management, multi-currency, intercompany, and consolidated accounting. Additionally, students learn the multiple advanced payment options available in Microsoft Dynamics AX, XBRL taxonomy, collection letters and interest and year-end close functionality. This course is meant to be an extension of the Financials I - Microsoft Dynamics AX course by adding advanced topics to the base knowledge covered in Financials I.

Audience

This course is intended for individuals on the implementation team, administrating or using the financial management modules in Microsoft Dynamics AX. This audience typically includes individuals tasked with assessing a customer's 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 should be able to:
• Understand how to set up and maintain budgets within Microsoft Dynamics AX.
• Understand the cash flow functionality in Microsoft Dynamics AX.
• Setup multicurrency and know how to create multicurrency transactions.
• Understand the steps involved in using the Advanced Payments functionality within Microsoft Dynamics AX.
• Understand how to set Intercompany accounting and create transactions in more than one company.
• Understand the setup and steps involved in consolidating companies.
• Understand the steps necessary to set up and process collection letters.
• Understand how to create and use dimensions hierarchies.
• Understand how to import and use XBRL taxonomy for financials statements.
• Understand the processes available for a year end close within Microsoft Dynamics AX.

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 Financials I – Microsoft course.

Microsoft Certified Professional Exams

No Microsoft Certified Professional exams are associated with this course currently.

Course Materials

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

Course Outline

Chapter 1: Budgeting

The purpose of this chapter is to introduce students to the budgeting functionality within Microsoft Dynamics AX. Microsoft Dynamics AX uses a budget model/submodel setup and students learn how to set up each of these. Students are also shown how to use period allocation keys, generate and print budgets, copy and modify budgets and how to view budget data.

Lessons
• Create Budget Models and Submodels
• Create Period Allocation Keys
• Enter Budget Numeric Data
• Generate and Print Budgets
• Additional Budgeting Functionality
• Copy and Modify Budgets
• View Budget Data

Labs
• Lab 1.1: Create a Budget Model and Submodel
• Lab 1.2: Create Period Allocation Keys Using the Wizard
• Lab 1.3: Enter and Generate a Budget

After completing this module, students should be able to:
• Create budget models and submodels within Microsoft Dynamics AX.
• Create period allocation keys.
• Generate and print budgets.
• Copy and modify budgets.
• View budget data.

Chapter 2: Cash Flow Management

This chapter focuses on the cash flow functionality in Microsoft Dynamics AX. Every company needs to know how much cash they have available at any given time. Students learn how the modules interrelate to generate cash flow numbers. They also learn the steps involved in setting up cash flow forecasting as well as how to inquire and report on the cash flow transactions.

Lessons
• Understand the Relationship of Cash Flow to Other Modules
• Set Up Cash Flow Forecasting
• Define a Cash Flow Forecast Budget Model
• Create Cash Flow Transactions
• Calculate Cash Flow Transactions
• View On-line Data and Print Cash Flow Reports

Labs
• Lab 2.1: Review Accounts Receivable Parameter Setup
• Lab 2.2: Review Customer Posting Profile Setup
• Lab 2.3: Review Customer Groups Setup
• Lab 2.4: Set Up a Ledger Account for Cash Flow Forecasting
• Lab 2.5: Set Up a Dependent Ledger Account
• Lab 2.6: Create a Budget Entry to Include in Cash Flow
• Lab 2.7: Create a Sales Order to Include in Cash Flow
• Lab 2.8: Calculate Cash Flow Transactions

After completing this chapter, students should be able to:
• Identify and understand the relationship of cash flow and other modules.
• Set up cash flow forecasting.
• Define a cash flow forecast budget model.
• Create cash flow transactions.
• Calculate cash flow transactions.
• View on-line data and print cash flow reports.

Chapter 3: Multi-Currency

This chapter focuses on the multi-currency capabilities of Microsoft Dynamics AX. Microsoft Dynamics AX has the ability to work with multiple currencies. Students learn how to set up multi-currency as well as the different options available such as the currency rounding and how to run exchange rate adjustments.

Lessons
• Exchange Rate Adjustments
• Accounts Receivable and Accounts Payable Exchange Rate Adjustment
• Set Up Currency Rounding

Labs
• Lab 3.1: Accounts Receivable Exchange Rate Adjustments
• Lab 3.2: Rounding

After completing this chapter, students should be able to:
• Make exchange rate adjustments.
• Set up currency rounding.

Chapter 4: Advanced Payments

This chapter is dedicated to the processing and setup of advanced customer and vendor payments in Microsoft Dynamics AX. These advanced payments include bridging accounts, electronic vendor and customer payments, prepayments and bills of exchange. Students also learn several of the options available when setting up a method of payment.

Lessons
• Create and Process a Bridging Account Methods of Payment
• Set Up and Process Electronic Vendor Payments
• Set Up and Process Electronic Customer Payments
• Set Up and Process Prepayments
• Set Up and Process Bills of Exchange
• Set Up and Apply Ledger Accruals

Labs
• Lab 4.1: Bridging Accounts
• Lab 4.2: Electronic Vendor Payments
• Lab 4.3: Electronic Customer Payments
• Lab 4.4: Prepayments
• Lab 4.5: Bill of Exchange
• Lab 4.6: Ledger Accrual

After completing this chapter, students should be able to:
• Set up Methods of Payment.
• Set up and process the following advanced payments, including:
• Bridging Accounts
• Vendor and Customer Electronic Payments
• Prepayments
• Bills of Exchange
• Ledger Accruals

Chapter 5: Intercompany Accounting

The focus of this chapter is the intercompany accounting functionality in Microsoft Axapta. Since Microsoft Dynamics AX companies reside in the same database, intercompany functionality requires limited set up. Students learn the necessary steps involved in the setup as well as how to create journal transactions that affect more than one company's ledger.

Lessons
• Review Posting Intercompany Transactions
• Review Setup for Intercompany Accounting
• Post an Intercompany Transaction
• Trace an Intercompany Transactions

Lab: Intercompany Accounting
• Lab 5.1: Set Up Posting Relationships
• Lab 5.2: Enter and Post an Intercompany Transaction
• Lab 5.3: Trace an Intercompany Transaction

After completing this module, students should be able to:
• Set up intercompany accounting.
• Create an intercompany accounting transaction.
• Trace an intercompany transaction.

Chapter 6: Consolidations

This chapter explains the functionality and flexibility of Microsoft Dynamics AX 4.0 in consolidating subsidiary companies into a single consolidated (parent) company. Performing consolidations in Microsoft Dynamics AX 4.0 involves setting up the consolidation company, setting up the subsidiary companies, and performing the consolidation.

Lessons
• Set Up Consolidation Company
• Set Up a Subsidiary Company
• Perform a Consolidation
• Consolidation According to the FASB 52 Regulation
• Consolidations Inquiry
• View and Delete Consolidation Transactions

Labs
• Lab 6.1: Set Up General Ledger Parameters
• Lab 6.2: Set Up System Account and Currency
• Lab 6.3: Set Up the Chart of Accounts
• Lab 6.4: Set Up the Subsidiary Company
• Lab 6.5: Perform a Consolidation
• Lab 6.6: Consolidations Inquiry
• Lab 6.7: View and Delete Consolidation Transactions

After completing this chapter, students should be able to:
• Set up a consolidation company.
• Set up a subsidiary company.
• Perform a consolidation.
• Understand how to perform a consolidations inquiry.
• View and delete consolidation transactions.

Chapter 7: Collection Letters and Interest

This chapter explains how to set up, create and process collection letters and interest notes in Microsoft Dynamics AX. Although most customers pay their invoices on time, it is still necessary to have the ability to handle those invoices that are not paid by the due date. This chapter teaches students how to set up Microsoft Dynamics AX to handle these situations.

Lessons
• Set Up and Create Collection Letters
• Process Collection Letters
• Set Up and Create Interest Codes

Labs
• 7.1: Collection Letters
• 7.2: Interest Code

After completing this chapter, students should be able to:
• Set up and create collection letters.
• Process collection letters.
• Set up and create interest codes.

Chapter 8: Dimension Hierarchy

This chapter explains the dimension hierarchy in Microsoft Dynamics AX. Financial figures must be analyzed through different financial dimensions as a supplement to voucher and account numbers. The implementation of dimension sets with hierarchies makes it possible to control the values entered in the system and thus ensures more reliable data. Students learn how to use the dimension hierarchy structure with Microsoft Dynamics AX.

Lessons
• Overall Concept of Dimension Sets, Hierarchies, and Rules
• Create a Dimension Set
• Create a Dimension Subset
• Activate Dimension Set Hierarchy
• Create a Dimension Set Hierarchy
• Create a Dimension Set Rule

Lab
• Lab 8.1: Dimensions, Sets, Hierarchies and Rules

After completing this chapter, students should be able to:
• Understand the concept of dimension sets, hierarchies, and rules.
• Create a dimension set.
• Create a dimension subset.
• Activate a dimension set hierarchy.
• Create a dimension set hierarchy and a dimension set rule.

Chapter 9: XBRL Taxonomy

This chapter explains the concept of XBRL taxonomy in Microsoft Dynamics AX. XBRL is a global financial reporting initiative undertaken by numerous ERP software companies and international accounting organizations. Students also learn the goal of XBRL, and how to import XBRL taxonomy, as well as how to create a reference to a row structure, and how to create an XBRL file from the financial statement.

Lessons
• Concept of XBRL Taxonomy
• Import XBRL Taxonomy.
• Create a Reference to a Row Structure
• Create an XBRL File from the Financial Statement

Lab:
• Import XBRL Taxonomy

After completing this chapter, students should be able to:
• Understand the concept of XBRL taxonomy.
• Import XBRL taxonomy.
• Create a reference to a row structure.
• Create an XBRL file from the financial statement.

Chapter 10: Year-End Close

This chapter covers the year-end functionality in Microsoft Dynamics AX including the processes of creating and closing fiscal years. At year end, it is always necessary to make adjustment entries that reflect transactions from the previous year. Also, a new fiscal year must be created and opening balances must be transferred. Students learn the options available for closing a fiscal year in Microsoft Dynamics AX.

Lessons
• Fiscal Year-End Tasks
• Creating a New Fiscal Year including:
• Control Transactions in a Closing Period
• Stop or Close a Period
• Change a Module Status in a Period
• Create a Closing Sheet
• Make Adjustments or Transfers between Accounts
• Set Up Fiscal Year Close Parameters
• Transfer Opening Balances

Lab
• Lab 10.1: Year-end Close

After completing this chapter, students should be able to:
• Perform the fiscal year-end close.