Bank Reconciliation in Microsoft Dynamics GP 10.0
Course 8671: One day; Instructor-led
Introduction
The one-day Microsoft Dynamics GP Bank Reconciliation course explores the accounting cycle and the processes required to manage cash receipts, cash disbursements, and other transactions that affect checkbook balances. This course shows you how to perform the reconciliation process, ensuring accuracy of your financial data and its relation to your financial institution.
A thorough understanding of these topics allows you to reconcile your checkbooks with your bank statements, keeping information consistent and accurate. You will learn to use comprehensive reporting features to preview data in different ways prior to performing the reconciliation process, as well as how to use the Checkbook Register report, which may be printed at any time. This course also teaches you how to define default values that automatically populate data fields and gather the information you need to make better business decisions by exploring powerful inquiry and lookup functions.
Audience
Customers wanting to learn the basic features and to develop a working knowledge of the typical day-to-day procedures required to effectively use Microsoft Dynamics GP Bank Reconciliation.
Bank Reconciliation training is recommended for anyone who plans to implement, use, maintain, consult, or support Microsoft Dynamics GP. The class is targeted toward data entry clerks, administrators; office managers, CEOs, and consultants who need to understand the technical aspects of Bank Reconciliation and gain foundational knowledge of the application functionality.
At Course Completion
After completing
this course, students should be able to:
• Customize
the setup of Bank Reconciliation to fit their business needs.
• Perform
all Bank Reconciliation related data entry functions, including bank transactions,
bank deposits, and bank transfers.
• Perform
maintenance on Bank Reconciliation documents and records such checkbooks.
• Print
standard reports for audit trail purposes, financial analysis, and to
verify data entry.
• Identify
the impact of the Bank Reconciliation module on other modules.
• Troubleshoot
and correct input errors, including incorrect posting date or incorrect
document amounts.
• Perform
the bank reconciliation process.
Prerequisites
Before attending
this course, students must have:
• General
knowledge of Microsoft Windows
• Basic
knowledge of accounting principles
Student Materials
The student materials include a comprehensive workbook and other necessary items for this class.
Course Outline
Chapter 1: Overview and Setup Procedures
This chapter gives students a general overview of the features and benefits of using the Bank Reconciliation module in an integrated environment. It also focuses on the setup procedures for the Bank Reconciliation module, as well as the options available to customize this module to reflect the way your organization does business. The chapter also covers entering beginning balances for each checkbook in preparation for using the Bank Reconciliation module.
Main Topics
• Bank
Reconciliation Features and Benefits
• Bank
Reconciliation Integration
• Bank
Reconciliation Setup and Options
• Checkbook
Maintenance
• Transfer
Existing Checkbooks to Bank Reconciliation
Labs
• Bank
Reconciliation Setup
• Checkbook
Setup
After completing
this chapter, students should be able to:
• Identify
the features and benefits available when using Bank Reconciliation.
• Discuss
integration that takes place between Bank Reconciliation and other modules
within the application.
• Identify
the navigation used to access the windows for transactions, reports, routines,
and inquiries in Bank Reconciliation.
• Customize
settings for the Bank Reconciliation module.
• Set
up checkbooks.
• Transfer
existing checkbooks to Microsoft Dynamics GP to begin using the Bank Reconciliation
module.
Chapter 2: Daily Procedures
This chapter defines the ways that transactions can be entered and posted in Bank Reconciliation. You explore the different types of transactions, receipts, and deposits that may be entered in this module. This chapter explains how each type of transaction may update the cash balance in the General Ledger, the checkbook balance in Bank Reconciliation, or both.
Main Topics
• Bank
Transaction Entry
• Receipt
Transactions
• Miscellaneous
Checks
• Bank
Transfer Entry
• Create
Bank Deposits
• Bank
Deposit Entry
Labs
• Entering
an Outstanding Check
• Entering
a Check Transaction
• Entering
a Cash Receipt
• Printing
a Miscellaneous Check
• Entering
a Bank Transfer
• Entering
a Deposit without Receipts
• Entering
a Deposit with Receipts
After completing
this chapter, students should be able to:
• Enter
the different types of cash transactions in Bank Reconciliation.
• Print
checks for miscellaneous items in Bank Reconciliation.
• Enter
bank transfers.
• Enter
and post deposits.
Chapter 3: Reconcile Bank Statements
This chapter examines the steps necessary to reconcile a checkbook to the bank statement. The process to enter miscellaneous transactions and adjustments during the reconcile process is covered in detail. Time is spent discussing the transaction posting that occurs during the reconcile process.
Main Topics
• Reconcile
Bank Statements Window
• Selecting
Bank Transactions
• Enter
Adjustments for Miscellaneous Transactions
• Print
Preview Reports
• Enter
Adjustments for Cleared Differences
• Reconcile
the Checkbook
Labs
• Reconcile
a Checkbook
After completing
this chapter, students should be able to:
• Reconcile
a checkbook to the bank statement.
• Enter
adjustments for miscellaneous transactions such as service charges or
interest earned.
• Account
for cleared differences between the checkbook and the bank.
• Print
Reconciliation Preview reports.
Chapter 4: Maintaining Records
This chapter examines the functionality available to maintain Bank Reconciliation records. The process to void transactions, transfers, and deposits is covered in detail. Time is spent discussing the procedure for changing and deleting records. How to remove historical information from Microsoft Dynamics GP and the effects of removing this history is demonstrated. Time is also spent discussing the inquiry windows and reports that can be generated from the Bank Reconciliation module.
Main Topics
• Voiding
a Bank Transaction
• Voiding
a Bank Transfer
• Voiding
a Deposit
• Deleting
a Checkbook
• Removing
History
• Using
Inquiries
• Report
Options
• Report
Groups
Labs
• Removing
History
After completing
this chapter, students should be able to:
• Void
bank transactions, transfers, and deposits.
• Change
and delete checkbook records.
• Remove
historical bank reconciliation information.
• Inquire
and report on bank information.
Appendix A: Job Aids
This appendix includes job aids that are used in Bank Reconciliation. There is also a quiz to help evaluate what topic areas may need to be revisited..
Appendix B: Case Study
For more information or to give feedback, send e-mail to info@OneApex.com or call 949-597-2100
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