Payables Management I in Microsoft Dynamics GP 10.0
Course 8819: One Day - Instructor-led
Introduction
The one-day Microsoft Dynamics GP Payables Management course examines the accounting cycle and the processes required to enter vendor invoices and process checks. This course also shows how to perform additional functions such as adjustments, prepayments, month-end closing, and cash flow control.
A thorough understanding of these topics allows for capitalizing on vendor discount dates to reduce payable liabilities and easily select the right vouchers for payment by date, vendor, number, or custom query to control cash outlay. This course teaches how to use comprehensive reporting features that present data in different ways, including many standard reports and inquiry windows. This course also provides guidance on how to define default values that automatically populate data fields and how to gather the information needed 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 Payables Management. The class is targeted toward data entry clerks, administrators, office managers, CEOs, and consultants who need to understand the technical aspects of Payables Management and gain foundational knowledge of the application functionality.
At Course Completion
After completing this course, students should be able to:
| • | Set up the Payables Management module and identify the customizable options available in the setup windows. |
| • | Perform all Payables Management related data entry functions including vendor invoicing, check processing, recurring vouchers, and manual checks. |
| • | Perform maintenance on Payables Management documents and other records such as vendors and recurring invoices. |
| • | Select documents for payment and make appropriate adjustments to payment amounts prior to check processing. |
| • | Print standard reports to verify data and financial analysis for audit trail purposes. |
| • | Identify the impact of the Payables Management module on other Microsoft Dynamics GP modules. |
| • | Correct input errors using the Edit Transaction Information window. |
| • | Understand the steps and requirements to void checks and invoices. |
Prerequisites
Before attending this course, students must have:
| • | General knowledge of Microsoft( Windows( |
| • | Knowledge of accounting principles |
Microsoft Certified Professional Exams
No Microsoft Certified Professional exams are associated with this course currently.
Course 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 provides students with a general overview of the features and benefits of using the Payables Management module in an integrated environment. Module integration is also discussed. This chapter’s main focus is on the setup procedures that need to be completed for Payables Management. This chapter also examines in detail the setup options available to customize this module to reflect the way an organization does business. Time is spent discussing the benefits of using vendor classes to organize and ease data entry of vendors. Information about entering beginning balances is also discussed.
Main Topics
| • | Features and Benefits |
| • | Integration |
| • | Payables Management Setup |
| • | Payables Setup Options |
| • | Vendor Class Maintenance |
| • | Vendor Class Accounts |
| • | Vendor Maintenance |
| • | Vendor Maintenance Options |
| • | Vendor Address Maintenance |
| • | Vendor Account Maintenance |
| • | Beginning Balances |
| • | Vendor History |
Lab:
| • | Payables Management Setup |
| • | Setting Up a New Vendor Class |
| • | Setting Up a New Vendor |
Lab:
| • | Payables Management Setup |
| • | Setting Up a New Vendor Class |
| • | Setting Up a New Vendor |
After completing this chapter, students should be able to:
| • | Identify the features and benefits available when using Payables Management. |
| • | Discuss integration that takes place between Payables Management and other modules within Microsoft Dynamics GP. |
| • | Customize settings for the Payables Management module. |
| • | Create Vendor Classes and assign vendors appropriately. |
| • | Create Vendor Records. |
| • | Enter beginning balances for each vendor. |
Chapter 2: Daily Procedures
This chapter explores the different ways transactions are entered and posted in Payables Management. The difference between transaction level and batch level posting is discussed, and the available methods for posting batches. This chapter discusses the many types of transactions that can be entered in Payables Transaction Entry, including printing a check. Entering and posting Scheduled Payments is also covered in this chapter.
Main Topics
| • | Batch Entry |
| • | Payables Transaction Entry |
| • | Printing a Check in Payables Transaction Entry |
| • | Scheduled Payments Entry |
| • | Post Scheduled Payments |
Lab:
| • | Enter an Invoice |
| • | Enter and Pay an Invoice |
| • | Enter a Credit Memo |
| • | Payables Scheduled Payments |
After completing this chapter, students should be able to:
| • | Enter and post transactions using the transaction level or batch posting method. |
| • | Enter the different types of transactions in Payables Management. |
| • | Enter Scheduled Payment transactions. |
Chapter 3: Entering Payments
This chapter discusses entering manual payments and creating and printing computer checks as well as the processing steps for batches of computer checks. Applying payments to documents is also a topic discussed in this chapter.
Main Topics
| • | Payables Manual Payment Entry |
| • | Select Checks |
| • | Edit Payables Checks |
| • | Edit Payables Check Batches |
| • | Print and Post Checks |
| • | Apply Payables Documents |
| • | Batch Recovery |
Labs
| • | Manual Payments – Credit Card |
| • | Manual Payments – Enter a Prepayment |
| • | Select Checks |
| • | Edit Payables Checks – Adding a Payment |
| • | Edit Payables Checks – Removing a Vendor/Voucher |
| • | Printing and Posting Checks |
| • | Applying Payables Documents |
Labs
| • | Manual Payments – Credit Card |
| • | Manual Payments – Enter a Prepayment |
| • | Select Checks |
| • | Edit Payables Checks – Adding a Payment |
| • | Edit Payables Checks – Removing a Vendor/Voucher |
| • | Printing and Posting Checks |
| • | Applying Payables Documents |
After completing this chapter, students should be able to:
| • | Enter manual payments and prepayments for vendors. |
| • | Select invoices to pay and print computer checks. |
| • | Post batches of computer checks. |
Chapter 4: Intercompany Transactions
This chapter shows how to record transactions in one company that create transactions in another company’s Payables Management. This chapter also examines the terms specific to Intercompany Processing and demonstrates the accounts that must be created to allow these types of transactions to be entered and posted.
Main Topics
| • | Define Intercompany Relationships |
| • | Enter Intercompany Transactions |
| • | Post Intercompany Transactions in General Ledger |
| • | View Intercompany Transactions in Inquiry |
After completing this chapter, students should be able to:
| • | Set up Intercompany relationships. |
| • | Enter Intercompany transactions in the origination company. |
| • | Post Intercompany transactions. |
| • | Use inquiries to view intercompany transactions. |
Chapter 5: Maintaining Records
This chapter examines the functionality available to maintain Payables Management records. There is also a lesson that focuses on placing and removing holds from vendors and transactions. The process to void open and historical transactions is covered in detail. Time is spent discussing the procedure for changing and deleting vendors and their related records. The chapter also looks at how to remove historical information from Microsoft Dynamics GP and the effects of removing this history, retrieving information, and the inquiry windows available in the Payables Management module.
Main Topics
| • | Vendor and Transaction Holds |
| • | Void Open Payables Transactions |
| • | Void Historical Transactions |
| • | Change or Delete Vendor Records |
| • | Remove History |
| • | Reconcile |
| • | Using Inquiries |
| • | Report Options and Printing |
| • | Report Groups |
Labs
| • | Transaction Holds |
| • | Void an Open Transaction |
| • | Void a Historical Transaction |
| • | Edit Transaction Information |
| • | Delete a Vendor |
| • | Remove History |
| • | Reconcile |
After completing this chapter, students should be able to:
| • | Place and remove holds on vendors and transactions. |
| • | Void open and historical transactions. |
| • | Edit posted transactions. |
| • | Change and delete vendor records. |
| • | Remove historical payables information. |
| • | Perform a reconcile on payables data. |
| • | Inquire and report on transactions. |
Chapter 6: Period-End-Procedures
This chapter examines the processes to complete at the end of the month, period, calendar, and fiscal year in Payables Management.
Main Topics
| • | Closing a Period |
| • | Closing the Calendar Year |
| • | Printing 1099 Statements |
| • | Closing the Fiscal Year |
| • | Tax Year-End Close |
Lab:
| • | Close Fiscal Periods |
| • | Year-End Closing |
After completing this chapter, students should be able to:
| • | Complete the processes that are performed at the end of an accounting period. |
| • | Complete the processes that are performed at the end of a calendar or fiscal year. |
| • | Perform the Year-End closing process. |
Appendix A: Job Aids
This appendix includes job aids that are used in Payables Management.
Appendix B: Case Study
This case study is a comprehensive lab that can be used to reinforce the learning that occurred throughout the Payables Management class.
For more information or to give feedback, send e-mail to info@OneApex.com or call 949-597-2100
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