Table of Contents

Introduction to Financials I in Microsoft Dynamics AX 2009

0-1

Welcome ............................................................................................................ 0-1

Microsoft Dynamics Courseware Contents ........................................................ 0-2
Documentation Conventions .............................................................................. 0-3
Student Objectives ............................................................................................. 0-4

Chapter 1: General Ledger Setup

1-1

Objectives ........................................................................................................... 1-1

Introduction ......................................................................................................... 1-1
Currency and Exchange Rate Setup .................................................................. 1-2
Periods and Fiscal Year Setup ......................................................................... 1-12
Date Intervals ................................................................................................... 1-19
Reason Codes .................................................................................................. 1-24
Dimensions ....................................................................................................... 1-27
Dimension Focus .............................................................................................. 1-33
Generated Allocations ...................................................................................... 1-38
Summary .......................................................................................................... 1-48
Quick Interaction: Lessons Learned ................................................................. 1-49
Solutions ........................................................................................................... 1-50

Chapter 2: Chart of Accounts Setup

2-1

Objectives ........................................................................................................... 2-1

Introduction ......................................................................................................... 2-1
Ledger Account Categories ................................................................................ 2-2
Chart of Accounts ............................................................................................... 2-4
Account Allocation Terms ................................................................................. 2-14
System Accounts .............................................................................................. 2-18
Inquiries and Reports Related to the Chart of Accounts .................................. 2-20
Summary .......................................................................................................... 2-27
Test Your Knowledge ....................................................................................... 2-28
Quick Interaction: Lessons Learned ................................................................. 2-29
Solutions ........................................................................................................... 2-30

Chapter 3: Journal Setup

3-1

Objectives ........................................................................................................... 3-1

Introduction ......................................................................................................... 3-1
Journal Setup ..................................................................................................... 3-2
Journal Controls ............................................................................................... 3-10
Journal Texts .................................................................................................... 3-11
Balance Control Accounts ................................................................................ 3-12
General Ledger Parameters ............................................................................. 3-13
Set Up Journals ................................................................................................ 3-15
Summary .......................................................................................................... 3-17
Test Your Knowledge ....................................................................................... 3-18
Quick Interaction: Lessons Learned ................................................................. 3-19
Solutions ........................................................................................................... 3-20

Chapter 4: Financial Features

4-1

Objectives ........................................................................................................... 4-1

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Financials I in Microsoft Dynamics AX 2009

Introduction ......................................................................................................... 4-1
Reason Codes .................................................................................................... 4-2
Fill Utility ............................................................................................................. 4-7
Summary ............................................................................................................ 4-9
Quick Interaction: Lessons Learned ................................................................. 4-10
Solutions ........................................................................................................... 4-11

Chapter 5: General Ledger Daily Procedures

5-1

Objectives ........................................................................................................... 5-1

Introduction ......................................................................................................... 5-1
General Ledger Journals .................................................................................... 5-2
Enter General Ledger Transactions ................................................................... 5-4
Lab 5.1 - Daily Transactions ............................................................................... 5-9
Lab 5.2 - Daily Transactions with Dimensions.................................................. 5-11
Lab 5.3 - Daily Transactions with Balance Control ........................................... 5-14
Posting Multiple Journals ................................................................................. 5-16
Lab 5.4 - Post All Unposted General Journals ................................................. 5-19
Approval Journals ............................................................................................. 5-20
Example: Gathering Data For an Approval Journal .......................................... 5-25
Voucher Templates .......................................................................................... 5-26
Periodic Journals .............................................................................................. 5-29
Lab 5.5 - Entering Periodic Transactions ......................................................... 5-34
General Ledger Transaction Reversal.............................................................. 5-37
Reversing Entries - GL ..................................................................................... 5-40
Inquire and View Reports on Daily Journal Transactions ................................. 5-43
Summary .......................................................................................................... 5-49
Quick Interaction: Lessons Learned ................................................................. 5-50
Solutions ........................................................................................................... 5-51

Chapter 6: Sales Tax Setup

6-1

Objectives ........................................................................................................... 6-1

Introduction ......................................................................................................... 6-1
Sales Tax Overview ........................................................................................... 6-2
Ledger Posting Groups ...................................................................................... 6-3
Lab 6.1 - Create a Ledger Posting Group .......................................................... 6-9
Sales Tax Authorities ....................................................................................... 6-11
Lab 6.2 - Create a Sales Tax Authority ............................................................ 6-14
Lab 6.3 - Create and Assign a Vendor to the Sales Tax Authority ................... 6-15
Sales Tax Settlement Periods .......................................................................... 6-17
Lab 6.4 - Setup of Sales Tax Settlements ........................................................ 6-21
Sales Tax Codes .............................................................................................. 6-23
Sales Tax Codes Intervals................................................................................ 6-29
Lab 6.5 - Set Up Sales Tax Codes Intervals .................................................... 6-34
Sales Tax Groups ............................................................................................. 6-36
Item Sales Tax Groups ..................................................................................... 6-41
Sales Tax Jurisdictions ..................................................................................... 6-43
Lab 6.6 - Comprehensive Setup of Sales Tax .................................................. 6-46
Lab 6.7 - Including Sales Tax in Journal Amounts ........................................... 6-53
Sales Tax Transactions .................................................................................... 6-54
Sales Tax Exemption ....................................................................................... 6-60

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Lab 6.8 - EU 115 Sales Tax Directive .............................................................. 6-63
Withholding Sales Tax ...................................................................................... 6-66
Summary .......................................................................................................... 6-69
Quick Interaction: Lessons Learned ................................................................. 6-70
Solutions ........................................................................................................... 6-71

Chapter 7: Bank Management Setup

7-1

Objectives ........................................................................................................... 7-1

Introduction ......................................................................................................... 7-1
Scenario ............................................................................................................. 7-2
Bank Transaction Types ..................................................................................... 7-2
Bank Transaction Groups ................................................................................... 7-4
Lab 7.1 - Create Bank Transaction Types and Bank Transaction Groups ......... 7-6
Bank Management Parameters .......................................................................... 7-8
Payment Purpose Codes ................................................................................... 7-9
Bank Groups .................................................................................................... 7-10
Bank Accounts ................................................................................................. 7-11
Create a Bank Group and Bank Account ......................................................... 7-16
Check Layout ................................................................................................... 7-18
Lab 7.2 - Define a Check Layout ...................................................................... 7-24
Summary .......................................................................................................... 7-25
Test Your Knowledge ....................................................................................... 7-26
Quick Interaction: Lessons Learned ................................................................. 7-27
Solutions ........................................................................................................... 7-28

Chapter 8: Accounts Payable Setup

8-1

Objectives ........................................................................................................... 8-1

Introduction ......................................................................................................... 8-1
Payment Schedule ............................................................................................. 8-2
Terms of Payment .............................................................................................. 8-5
Payment Days .................................................................................................... 8-9
Lab 8.1 - Terms of Payment ............................................................................. 8-11
Cash Discount .................................................................................................. 8-12
Payment Fee .................................................................................................... 8-17
Methods of Payment ........................................................................................ 8-22
Lab 8.2 - Method of Payment, Terms of Payment, and Cash Discount ........... 8-27
Vendor Groups ................................................................................................. 8-29
Lab 8.3 - Create a Vendor Group ..................................................................... 8-34
Accounts Payable Posting Profiles ................................................................... 8-35
Lab 8.4 - Vendor Posting Profile ...................................................................... 8-38
Accounts Payable Vendors .............................................................................. 8-40
Lab 8.5 - Vendors ............................................................................................. 8-47
Summary .......................................................................................................... 8-49
Quick Interaction: Lessons Learned ................................................................. 8-50
Solutions ........................................................................................................... 8-51

Chapter 9: Accounts Payable Daily Procedures

9-1

Objectives ........................................................................................................... 9-1

Introduction ......................................................................................................... 9-1
Invoice Journals in Accounts Payable ................................................................ 9-2

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Financials I in Microsoft Dynamics AX 2009

Invoice Register .................................................................................................. 9-2
Invoice Approval Journal .................................................................................. 9-13
Lab 9.1 - Register an Invoice ........................................................................... 9-17
Invoice Pool Excluding Posting ........................................................................ 9-19
Lab 9.2 - Invoice Pool Excl. Posting ................................................................. 9-21
Invoice Journal ................................................................................................. 9-23
Lab 9.3: Invoice Journal ................................................................................... 9-25
Voucher Template ............................................................................................ 9-26
Payment Journals ............................................................................................. 9-28
Lab 9.4 - Payment Journals ............................................................................. 9-36
Invoice Matching .............................................................................................. 9-40
Edit Open Transactions .................................................................................... 9-46
Reverse a Closed Transaction ......................................................................... 9-48
Lab 9.5 - Reverse a Closed Transaction .......................................................... 9-50
Print Management ............................................................................................ 9-51
Print Management ............................................................................................ 9-51
Summary .......................................................................................................... 9-57
Test Your Knowledge ....................................................................................... 9-58
Quick Interaction: Lessons Learned ................................................................. 9-59
Solutions ........................................................................................................... 9-60

Chapter 10: Accounts Receivable Setup

10-1

Objectives ......................................................................................................... 10-1

Introduction ....................................................................................................... 10-1
Payment Schedule ........................................................................................... 10-2
Terms of Payment ............................................................................................ 10-5
Payment Days .................................................................................................. 10-8
Lab 10.1 - Terms of Payment ......................................................................... 10-10
Cash Discount ................................................................................................ 10-11
Payment Fee .................................................................................................. 10-14
Methods of Payment ...................................................................................... 10-18
Lab 10.2 - Set up a Method of Payment ......................................................... 10-22
Customer Groups ........................................................................................... 10-23
Lab 10.3 - Create a Customer Group ............................................................. 10-27
Accounts Receivable Posting Profiles ............................................................ 10-28
Lab10.4 - Set Up a Customer Posting Profile................................................. 10-31
Accounts Receivable Customers.................................................................... 10-33
Lab 10.5 - Create a Customer ........................................................................ 10-39
Summary ........................................................................................................ 10-40
Test Your Knowledge ..................................................................................... 10-41
Quick Interaction: Lessons Learned ............................................................... 10-42
Solutions ......................................................................................................... 10-43

Chapter 11: Accounts Receivable Daily Procedures

11-1

Objectives ......................................................................................................... 11-1

Introduction ....................................................................................................... 11-1
Free Text Invoice - Description and Usage ...................................................... 11-2
Lab 11.1 - Create Free Text Invoices ............................................................... 11-8
Payment Journals ........................................................................................... 11-10

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Lab 11.2 - Settlements - Entering an Accounts Receivable Payment Journal
(Cash Receipt) ............................................................................................... 11-21
Edit Open Transactions .................................................................................. 11-23
Lab 11.3 - Edit Open Transactions ................................................................. 11-28
Placing an Accounts Receivable Transaction on Hold ................................... 11-30
Reverse Settlements ...................................................................................... 11-31
Lab 11.4 - Reverse a Settlement .................................................................... 11-33
Reimburse a Customer .................................................................................. 11-34
Lab 11.5 - Reimburse a Customer ................................................................. 11-36
Reason Codes ................................................................................................ 11-38
Print Management - AR .................................................................................. 11-39
Summary ........................................................................................................ 11-47
Quick Interaction: Lessons Learned ............................................................... 11-48
Solutions ......................................................................................................... 11-49

Chapter 12: Bank Management Daily Procedures

12-1

Objectives ......................................................................................................... 12-1

Introduction ....................................................................................................... 12-1
Scenario ........................................................................................................... 12-2
Create Checks .................................................................................................. 12-2
Delete a Check ................................................................................................. 12-4
Lab 12.1 - Create and Delete a Check ............................................................. 12-6
Deposit Slips .................................................................................................... 12-7
Lab 12.2 - Create a Deposit Slip .................................................................... 12-11
Void Unposted Checks ................................................................................... 12-13
Lab12.3 - Void Unposted Checks ................................................................... 12-14
Refund Checks ............................................................................................... 12-16
Lab 12.4 - Check Refund ............................................................................... 12-18
Bank Remittance ............................................................................................ 12-19
Payment Reversal .......................................................................................... 12-20
Reconcile a Bank Account ............................................................................. 12-21
Summary ........................................................................................................ 12-25
Test Your Knowledge ..................................................................................... 12-26
Quick Interaction: Lessons Learned ............................................................... 12-27

Appendix A: Reports and Inquiries

A-1

Sales Tax Reports ............................................................................................. A-1

Accounts Payable Reports ................................................................................ A-6
Accounts Receivable Inquiries ........................................................................ A-18
Accounts Receivable Reports ......................................................................... A-20
Bank Management Inquiries ............................................................................ A-28
Bank Management Reports ............................................................................. A-30
Quick Interaction: Lessons Learned ................................................................ A-39

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Financials I in Microsoft Dynamics AX 2009

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Microsoft Official Training Materials for Microsoft Dynamics

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