2008 Microsoft Corporation. All rights reserved. Microsoft Dynamics, AX 2009 are either trademarks or
registered trademarks of Microsoft Corporation or Great Plains Software, Inc. or their affiliates in the United States
and/or other countries. Great Plains Software, Inc. is a subsidiary of Microsoft Corporation. The names of actual
companies and products mentioned herein may be the trademarks of their respective owners.
This course content is designed for Microsoft Dynamics 2009 formerly a part of Microsoft Business Solutions.
Table of Contents
Introduction to Financials I in Microsoft Dynamics AX 2009
0-1
1-1
2-1
3-1
4-1
5-1
6-1
ii
Table of Contents
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
7-1
8-1
9-1
iii
10-1
11-1
iv
Table of Contents
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
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vi
Introduction
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0-1
Challenge Yourself!
Level 3 exercises are the most challenging. These exercises are designed for the
experienced student who requires little instruction to complete the required task.
Step by Step
Level 1 exercises are geared towards new users who require detailed instructions
and explanations to complete the exercise. Level 1 exercises guide you through
the task, step by step, including navigation.
0-2
Introduction
Documentation Conventions
The following conventions and icons are used throughout this documentation to
help you quickly and effectively navigate through the information.
CAUTION: Cautions are found throughout the training manual and are preceded by
the word CAUTION in bold. Cautions are used to remind you of a specific result of a
specific action which may be undesirable.
HINT: Hints are found throughout the training manual and are preceded by the word
HINT in bold. Hints are used to suggest time-saving features or alternative methods for
accomplishing a specific task.
NOTE: Notes are found throughout the training manual and are preceded by the word
NOTE in bold. Notes are used to provide information which, while not critical, may be
valuable to an end user.
BEYOND THE BASICS: Advanced information found throughout the training manual
is preceded by the words BEYOND THE BASICS in bold. Beyond the Basics provides
additional detail, outside of standard functionality, that may help you to more optimally
use the application.
EXAMPLE: Examples are found throughout the training manual and are preceded by
the word EXAMPLE in bold. Examples bring to light business scenarios that may better
explain how an application can be used to address a business problem.
0-3
Student Objectives
What do you hope to learn by participating in this course?
List three main objectives below.
1.
2.
3.
0-4
Introduction
A general ledger is a formal ledger that contains a companys accounting records
in Microsoft Dynamics AX 2009, and includes the financial accounts and
statements.
Use the General Ledger to set up currencies and exchange rates. Microsoft
Dynamics AX 2009 offers extensive functionality with multicurrency handling
so you can record transactions in various currencies and report in parallel
currencies.
The General Ledger Setup course explains how to work with an infinite number
of dimensions with various modules in Microsoft Dynamics AX 2009. You can
use dimension focuses to track profits, cost centers, and other important financial
information.
The General Ledger Setup course describes the various components of an
allocation rule and the purpose of each allocation method.
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1-3
1-4
NOTE: In the Exchange rates form, the exchange rate for the company currency
is changed automatically according to the Express exchange rate specified in
the General Ledger parameters form.
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1-6
NOTE: The value in the General round-off field affects all values in all
modules.
NOTE: To print the Currency report, which lists all company currencies and
related exchange rates, click General Ledger, click Reports, click Base Data,
and then click Currency.
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1-8
1-9
Value
Realized Loss
801300
Realized Profit
801500
Unrealized Loss
801400
Unrealized Profit
801600
Challenge Yourself!
Set up the South African Rand (ZAR) as a currency and specify the
posting accounts and rounding options.
Print a copy of the currency rates that are set up in the system.
1-10
Click General ledger, click Setup, and then click Exchange rates.
Press CTRL+N to add a line in the Overview tab.
In the Currency field, enter ZAR.
In the Name field, enter South African Rand.
In the ISO Currency Code, enter ZAR.
Click the Posting tab.
In the Realized loss field, enter 801300.
In the Realized profit field, enter 801500.
In the Unrealized loss field, enter 801400.
In the Unrealized profit field, enter 801600.
Click the Round-off tab.
In the General round-off field, enter .01
Next set up the exchange rate. Every currency requires one exchange rate entry
with a blank date.
1. On the Exchange rate form, click in the Exchange rate field on the
line.
2. In the Exchange rate field, enter 12.35.
3. Press CTRL+N to create a new exchange rate.
4. In the Start Date field, click the calendar icon.
5. Select 04/01/08.
6. In the Exchange rate field, enter 12.35
Then, set up ZAR for currency conversion.
1. Click the Currency converter tab.
2. Select the Conversion check box.
Finally, print a report for the Controller with the exchange rates.
1. Click the Print exchange rates button to open the Exchange rates
form.
2. Click OK to print the Exchange rates report.
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Both fiscal year and periods can be set up by the following measurements of
time:
Years
Months
Days
The periods and fiscal year feature is very useful for the preparation and
reconciliation of periodic and yearly accounts.
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the opening period into the new fiscal year, with the status Closed
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3. In the Module user group area, specify the user group that can make
changes, when the module status is set to User group.
For example, after a period is stopped, limit access to the Ledger to
only the user group that makes closing entries. This ensures no new
entries are made during the financial closing process. You can select
one group of users to enter the last postings in the old period and
select other groups to continue working only in the new period.
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To delete the fiscal year furthest into the future, click the Delete
fiscal year button. As with the Delete Period button, no warning or
error message appears when the fiscal year with transaction history is
deleted. The transactions are not deleted and the year can be
recreated.
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Challenge Yourself!
Create the fiscal year for 2011, which begins on July 1, 2010.
Step by Step
1. Click General ledger, click Setup, click Periods, and then click
Periods.
2. Click the Create new fiscal year button.
3. In the Enter start of fiscal year field, enter 7/1/2010.
4. In the Enter close of fiscal year field, enter 6/30/2011.
5. In the Desired length of period field, enter 1.
6. In the Unit field, click the arrow to select Months.
7. Click OK to create the year. The fiscal year for 2011 is added to the
Periods form.
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Date Intervals
Create and manage date intervals that can be used in financial statements and
reports. Date intervals allow you to create dynamic dates. When you use date
intervals, you can set up predefined periods when you run financial statements.
Date intervals can also be used when setting up an allocation rule.
Scenario
Ken, the Controller at Contoso Entertainment USA (CEU), runs a dimension
statement every month. Instead of entering the dates every time he runs the
report, he selects a date interval.
The date interval automatically fills in the start date and the end date. Therefore,
Ken does not have to specify the start date and the end date when he runs the
dimension statement.
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Value
Before
Fiscal year
Start/End
Start
Calculation
date
3/13/2008
Starting point
1/1/2008
Field
Value
Before
Quarter
Start/End
End
Calculation
date
3/13/2008
Starting point
3/31/2008
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NOTE: The Calculation date field is equal to the system date. By changing the
system date, (Microsoft Dynamics AX > Tools > Session Date), all the values in
the Date calculation area of the form will be changed accordingly.
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Value
Before
Year
Start/End
Start
+/-
Years
Calculation date
3/13/2008
Starting point
1/1/2008
After adjustment
1/1/2009
Field
Value
Before
Year
Start/End
Start
+/-
-1
Years
Calculation date
3/13/2008
Starting point
1/1/2008
After adjustment
1/1/2007
NOTE: If the +/- field and Days, Months, Years or periods field are empty, the
After adjustments field equals the starting point value.
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Value
After
adjustments
4/17/2008
After
Fiscal year
Start/End
Start
From date
1/1/2008
Field
Value
After
adjustments
4/17/2008
After
Quarter
Start/End
End
From date
6/30/2008
Reason Codes
Reason codes are standardized codes that can be used in various transaction types
or changes to field values to provide background data about the transaction. For
example, auditors or managers frequently want to see reasons recorded for
various transactions.
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Fixed assets
General ledger
Accounts payable
Accounts receivable
Bank
NOTE: For more information about using reason codes with Fixed assets, refer
to the Fixed assets collection.
General journal
Elimination proposal
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NOTE: Use the Reasons form from Basic to create reason codes for many
financial modules. You also can open the Reasons form from a specific module.
The Reasons form in Basic provides extra fields to assign the reason code to
any of five account types, but in each of the other modules, reason codes by
default are assigned to the account type that is related to that module. For
example, if the Reasons form opens from Accounts payable, the Vendor check
box is selected and the reason codes created can be used only with vendor
transactions unless the Vendor check box is unmarked.
Dimensions
Dimensions have the following characteristics:
Departments
Cost centers
Purposes
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Ledger accounts
Customers
Vendors
Department
Cost center
Purpose
Scenario
Ken, the Controller at Contoso Entertainment USA, must analyze company
figures from a perspective other than only ledger accounts. Ken wants to make
reports and sales statistics inquiries based on cost centers and departments.
Therefore, he decides to set up dimensions as a supplement to voucher and
account numbers.
1-28
After dimension values are set up, you can assign them to the following:
Ledger accounts
Customers
Vendors
For example, in the Customers form on the Dimensions tab, set up department
and cost center dimensions for customer 4037. When a sales order is created for
customer 4037, the defined dimensions are populated on the sales order
automatically, but the values can be changed.
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1-31
Challenge Yourself!
Help Phyllis enter the necessary dimension validation options for account
605110.
Step by Step
1. Click General ledger, and then click Chart of Account Details.
2. Select account 605110, Cleaning expense, and then click the
Dimension tab.
3. In the Cost center field, click the arrow to select 0101, Building
maintenance.
4. In the Validate cost center field, click the arrow to select Fixed.
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Dimension Focus
Dimension focuses make it easy for you to create financial reports that are based
on dimensions and ledger accounts transactions. They also define the order in
which dimensions and ledger accounts should be printed.
A dimension focus combines dimensions and ledger accounts. For example, one
focus can consists of:
Ledger accounts
Department
Purpose
Department
Ledger accounts
For example, you can use the dimension focuses to view balance statements
based on multiple dimensions and ledger accounts.
Scenario
Sara, the Chief Financial Officer (CFO) at Contoso Entertainment USA (CEU),
must:
To view the sales revenue for all departments in CEU, Sara decides to create a
dimension focus that consists of ledger accounts and departments dimensions.
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Challenge Yourself!
Run a report to verify that entries for the month of June include the department
dimension.
Step by Step
Follow these steps to create a new Dimension focus for Account-Department.
1. To access the Dimension focuses form, click General ledger, click
Setup, click Financial statement, and then click Dimension
focuses.
2. Press CTRL+N to create a new dimension focus.
3. In the Set field, enter Acc-Dept.
4. In the Description field, enter Account Department.
5. Click the Dimension tab.
6. Drag the Ledger account field from Available dimensions to
Selected dimensions.
7. Drag the Department field from Available dimensions to Selected
dimensions.
8. Click the Overview tab.
9. Press CTRL+S to save the record. Microsoft Dynamics AX 2009
displays a confirmation message.
10. Click the Yes button.
11. Close the Dimension focuses form.
Next, follow these steps to run the Dimension statement report.
1. Click General ledger, click Reports, click Transactions, and then
click Dimension statement.
2. In the Main focus field use the arrow to select Acc-Dept.
3. In the From date field, enter 6/1/2008.
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1-37
Generated Allocations
Allocation is the process of distributing monetary amounts to one or more
accounts or account and dimension combinations.
New to Microsoft Dynamics AX 2009 is the ability to use predefined allocation
rules to perform generated allocations. Generated allocation is the distribution of
posted or fixed amounts to combinations of destination accounts and dimensions
at any time, which generate new journal entries.
Allocation rules have numerous calculation methods, including:
Basis
Fixed percentage
Fixed weight
Spread even
Scenario
Phyllis, the Accounting Manager at Contoso Entertainment USA (CEU), creates
a new Intercompany allocation rule for Electric Utilities to distribute overhead
utility expense to each department based on fixed percentages. The rule is for the
new fiscal year that begins on January 1, 2008. Because Phyllis does not want the
new rule to be used until then, she enters 01/01/2008 as the start date for the rule.
Because CEU typically reviews its allocation rules every fiscal year, Phyllis
enters 12/31/2008 as the end date for the rule.
Phyllis enters detailed notes about the basis and reasons for the allocation rule.
Phyllis then selects the Microsoft Word template that was implemented when
CEU experienced a SOX review to document the allocation rule completely.
When Phyllis has finished writing the document, she attaches a copy of it to the
rule. Anyone who wants additional information about the rule can open the
document or print an Allocation rules definition report.
Allocation Rules
Allocation Rules allow you to define the results you want in the allocation
business process.
Each allocation rule has four primary components:
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The General settings dictate which fields are available in the rule
tabs.
The Source data for the allocation is also known as the allocation
pool.
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6. In the Data source field, select the source of the amount to allocate:
o Ledger
o Fixed value
7. If Fixed value is selected in the Data source field, enter a value in
the Fixed value field.
8. If Ledger is selected in the Data source field, select an arithmetic
operation to apply to the source value in the Mathematical
operation field.
9. If Ledger is selected in the Data source field and either Multiply or
Divide is selected in the Mathematical operation field, enter the
Amount by which to multiply or divide the source value.
10. If Ledger is selected in the Data source field, select a date interval
to determine the account periods used for the allocation rule source.
If a date interval is not selected, all balanced for the chosen account
or account-dimension combination will be selected for source
allocation.
11. Select an allocation Journal name. The Description displays the
allocation journal description.
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1-43
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Scenario
Phyllis runs an allocation proposal without posting it to review the allocation
results and the detailed distributions that will be created based on the allocation
rule used. If the results are accurate, Phyllis posts the entry.
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NOTE: The Date last run field displays the last date when a user processed an
allocation rule and created distribution lines.
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Summary
The General ledger setup course describes the initial setup to start working with
Microsoft Dynamics AX 2009 financials. The course provides basic
introductions to set up:
1-48
Generated allocations
2.
3.
1-49
Solutions
Currency and Exchange Rate Setup
Test Your Knowledge
Task: Simon, the System Implementer at Contoso Entertainment USA (CEU), is
helping Phyllis, the Accounting Manager, with the implementation of Microsoft
Dynamics AX 2009. CEU conducts business primarily in the United States and
also in Canada. As of April 1, 2008, 1 Canadian Dollar (CAD) equals 0.97 US
Dollars (USD). Help Phyllis and Simon determine the correct steps to set up
multicurrency for CEU.
Step 4 : Create the CAD Currency in the Exchange rates form
Step 5 : Set the exchange rate value for CAD as of no date to 0.97
Step 3 : In the General ledger parameters form, enter 1 in the Express exchange
rate field
Step 2 : In the Company information form, select USD in the Currency field
Step 6 : Set the exchange rate value for CAD as of April 1, 2008 to 0.97
Step 1 : Create the USD Currency in the Exchange rates form
What effect does the value in the General round-off field have on the values in
Microsoft Dynamics AX 2009?
MODEL ANSWER - The value is used to round all amounts in all modules.
When you change the display currency, it affects all users.
( ) True
() False
1-50
Dimensions
Test Your Knowledge
Which of the following is one of the default dimension settings? (Select all that
apply.)
() Department
( ) Vendor
() Cost center
() Purpose
Generated Allocations
Test Your Knowledge
What are the parts of an allocation rule? (Select all that apply.)
() General
() Source
() Destination
() Offset
Which allocation method defines how and in what proportion the source amounts
are distributed to the various destination lines, by referring to balances in other
account-dimensions?
() Basis
( ) Fixed percentage
( ) Fixed weight
( ) Spread even
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Introduction
A Chart of Accounts is a list of all accounts tracked by Microsoft Dynamics AX
2009. It captures financial information to make sound financial decisions. Each
account is assigned an account number as a unique identifier.
Use the Chart of Accounts to create, manage, and view the company's General
Ledger accounts in a structured list. Additionally, different allocation terms can
be set up for an account to distribute the amount to several accounts and accountdimension combinations, and system accounts help users handle automatic
postings.
The Chart of Accounts Setup course also shows all the reports and inquiries
related to the Chart of Accounts.
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Scenario
Phyllis, the Accounting Manager, wants to include the Current Ratio on the
Short-term solvency KPI report. Current Ratio is calculated by dividing a
companys current assets by current liabilities. Current assets typically consist of
cash, cash equivalents, accounts receivable, inventory, and marketable securities.
Current Liabilities consist of any liabilities that are payable within one year.
The following table shows which type accounts are defined in Contoso
Entertainment USA:
Ledger account
Account name
110100
Cash
130000
Accounts receivable
140000
Inventory
170000
Fixed Assets
To derive the Current Asset value, Phyllis must sum the values of the Cash,
Accounts receivable, and Inventory accounts. Fixed Assets are not considered
current assets. To perform this calculation, Phyllis uses the Ledger account
category field. Accounts later added to the chart of accounts will also use the
Ledger account category to automatically be included in existing calculations.
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Chart of Accounts
The Chart of Accounts (COA), the central collection location for daily financial
transactions, is the cornerstone of the General Ledger module. It provides
information about a company's financial state. Use the COA to:
Create accounts
Access transactions
Ledger budgeting
Validation
Make sure that there is sufficient space so that in the future, additional ledger
accounts can be created between the existing accounts. Decide whether operating
accounts must come before balance accounts or the other way around.
Create the Chart of Accounts by:
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Profit & Loss, Revenue and Cost - These are posting accounts. Use
Profit & Loss to record revenue and expenses. The sum of all
operating accounts determines the year-end results.
Revenue and Cost account have the same function as a Profit &
Loss account and gives a debit or credit proposal when you use that
account in a journal.
2-6
Group Total - Use this to create a group total based on the prefix of
the account. This resembles the Total field but it is automated based
on the Group total account length field in the Ledger tab of the
General Ledger parameters form.
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2-8
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Sales tax
Currency
User ID
Posting types
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When you create the Chart of Accounts, many fields are optional, but it is a good
idea to carefully consider what degree of detail is necessary for a given system.
The Chart of Accounts must be designed to capture financial information to make
sound financial decisions.
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Value
Ledger account
131150
Name
Prepaid Rent
Prepaid Expenses
Currency
USD
Challenge Yourself!
Use the table information to create a new General ledger account.
Step by Step
1.
2.
3.
4.
5.
6.
7.
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Description
Percentage
010
Administration
20
030
Sales
10
050
Customer Service
15
080
Professional Services
55
Challenge Yourself!
Use the information in the table to enter the allocation terms for account 600200.
Step by Step
1. On the Navigation Pane, click General Ledger and then click Chart
of Accounts.
2. Locate account 600200, Repair & Maintenance Expense.
3. To open the Allocation form, click the Setup button and then click
Allocation terms.
4. In the To department field, use the arrow to select department 010.
5. In the Allocation percentage field, enter 20.
6. Press CTRL+N to add a new line.
7. In the To department field, use the arrow to select department 030.
8. In the Allocation percentage field, enter 10.
9. Press CTRL+N to add a new line.
10. In the To department field, use the arrow to select department 050.
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System Accounts
The modules in Microsoft Dynamics AX 2009 are highly integrated and many
postings are handled automatically. For example, when an invoice is posted
where a discount is given, this amount is posted automatically to an account for
discounts. The appropriate account for that kind of posting must be set up,
through system accounts.
In the System accounts form:
If the relation between the system account Customer invoice and ledger account
50310 is set up, the invoice discount amount of 50 is posted to ledger account
50310.
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1. Click General ledger, click Setup, click Posting, and then click
System Accounts.
2. Click Create and Microsoft Dynamics AX 2009 automatically
creates the most common system account types when you set up the
system accounts for the first time.
The following is a list of examples of system accounts Microsoft
Dynamics AX 2009 creates when you click the Create button:
o Penny difference in secondary currency
o Error account
o Penny difference in default currency
o Year-end result
o Cash discount
o Balance account for consolidation differences
o Customer cash discount
o Customer invoice discount
o Vendor cash discount Vendor invoice discount
o Order, freight
o Order fee
o Order invoice rounding
o Purchase invoice rounding-off
o Purchase, fixed receipt price profit
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NOTE: The Error Account, Penny Difference, and Year-end Result system
accounts are mandatory. The other system accounts are set up depending on
whether that functionality is used. If a service pack is installed, new system
accounts may be introduced. Click the Create button after you install a service
pack to make sure you have all the latest default account types.
3. Press CTRL+N to create a new system account, if system accounts
are already created.
4. Attach the relevant ledger account for each system account in the
Ledger account list. The name of the system account is automatically
inserted in the Name field.
NOTE: To interrupt updates with an error message when the error account is
used in the posting process, select the Interrupt in case of error account check
box in the General ledger parameters form.
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Click the Voucher button to view the vouchers that are contained in
the audit trail entry. The entry also includes references to the user
who created the entry and to the entry date and time.
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If a journal that consists of several vouchers is posted, only one line is created in
the audit trail. Check the specific vouchers by clicking the Ledger transactions
button.
You can use the Account transactions form to view a list of all
posted transactions on the current account.
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Journals
Sales and purchase orders
Any other modules that post to ledger
Select the Show open only check box to only display transactions
not settled in the Ledger settlements form.
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Balance - Displays a small window that displays the balance for the
selected account.
Posted currencies
Default currency
Percentage of the total balance for each specified currency.
Define the period for the balance displayed in the Setup form
under the Balance button.
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Ledger
Budget
Cash flow
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Summary
This course, Chart of Accounts Setup, covers the basic information about the
Chart of Accounts, allocation terms, system accounts, and inquiries and reports
related to these topics. The Chart of Accounts, the central collection location for
daily financial transactions, is the cornerstone of the General Ledger module. It
provides information about a company's financial state.
Allocated transactions redistribute account balances from one account to one or
more destination accounts. This is practical and can be used to set up automatic
posting of, for example, percentage allocation of accounts postings.
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Question 1
1. Which tasks are completed from the Chart of Accounts in Microsoft
Dynamics AX 2009? (Select all that apply.)
( ) Create accounts
( ) Set standard parameters
( ) Access transactions
( ) View a company's financial state
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2.
3.
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Solutions
Chart of Accounts
Test Your Knowledge
True or False: Using posting types reduces the risk of selecting a wrong account
when you set up posting profiles.
() True
( ) False
System Accounts
Test Your Knowledge
Which of the following system accounts are required to be set up? (Select all that
apply.)
() Error account
( ) Cash difference
() Year-end result
() Penny difference
2-30
Introduction
A journal is a worksheet that you can use before you enter postings into the
system manually. Before you use financials in Microsoft Dynamics AX 2009,
review the setup procedures for journals in this course. The procedures explains
the basic setup of journals such as journal names, controls, and texts. You can
use journals quickly and efficiently when you set them up correctly in Microsoft
Dynamics AX 2009.
3-1
Journal Setup
All manual postings are entered into the system through journals. When you use
a journal entries are not posted immediately. Before you can post entries, they
can be:
Changed
Reviewed
Approved
Deleted
Review data imported from external ledger systems - you can ensure
that all valid fields contain a value and that all restrictions for the
transaction are fulfilled.
Make sure that the necessary voucher series is set up before you
create journals - you can set up number sequences and attach them to
the appropriate references.
3-2
Journal Examples
See the following examples of journals:
Daily
Periodic
Invoice register
Approval
Customer payment
3-3
3-4
NOTE: You can define approval options in the Journal names form on the
Overview tab.
3-5
o
o
NOTE: You cannot enter multiple customer or vendor transactions by using the
One voucher number only selection, if there is an invoice number that is used.
4. Specify the number of the external document in the Document field.
For example, a vendor invoice number that generated the voucher
will appear on the journal lines, where it can be associated with a
document date.
5. Select the Number allocation at posting check box to start voucher
number allocation in journals at posting.
NOTE: If the Continuous check box is selected in the Number sequences form
on the General tab, the voucher number is generated automatically from the
previous voucher number without gaps in the voucher numbers. For example, the
order is 1,2,3,4 and not 1,3,8.
3-6
3-7
NOTE: Three posting layers can be used: Current, Operations, and Tax .
Current is the default layer that is used the same as Operations for entry of
transactions. These are part of the periodic financial reporting. The Tax layer is
where you record transactions that impact tax reporting.
5. Select how to handle the posting of fees in the Fees posting list, for
example, for remittance. Select among three options:
o Keep fees in journal - Keep fees in the actual journal for future
posting.
o Transfer fees, keep voucher no. - During posting of remittance
journal, the fees are transferred into the journal set up in the Fee
journal field on the bank account for the remittance. The journal
keeps the original voucher number.
o Transfer fees, new voucher no. - During posting of remittance
journal, the fees are transferred into the journal set up on the
bank account, and a new voucher number is allocated
automatically.Specify how many journal lines are allowed in the
Lines limit field. If the number of journal lines exceeds the
number that is specified in the Lines limit field, the journal lines
are distributed into several smaller journals.
6. Specify how many journal lines are allowed in the Lines limit field.
If the number of journal lines exceeds the number that is specified in
the Lines limit field, the journal lines are distributed into several
smaller journals.
3-8
3-9
No posting restrictions
For example, Arnie, the Accounts Receivable (AR) Manager at
Contoso, is a member of the AR user group. The AR user group
has been assigned to a posting restriction for AR journals.
Because of this posting restriction assignment, members of the
AR user group can post AR journals that only they created.
Phyllis, the Accounting Manager, decides to allow Arnie to post
all AR journals, not only those that he created. Phyllis must clear
the posting control for Arnie so that he can post to all AR
journals.
Journal Controls
Set up journal control options to set up posting rules for the journal name.
Scenario
Contoso uses journal control to set up limitations to certain journals. For
example, the bank journal name is set up so that it is only possible for users to
make bank account postings, and the customer payment journal allows only
customer type postings.
3-10
Journal Texts
Use journal texts to enter and reuse transaction texts when you record in journals.
Users frequently enter the same transaction text every time that they post a
certain transaction. For example, users transfer from petty cash to bank or
payment of invoice number. You can save the transaction texts in a table with a
search name so that you can reuse the transaction text.
3-11
Scenario
Phyllis, the Accounting Manager at Contoso, wants to track the current and
expected balance of liquidity accounts better, such as bank accounts and petty
cash accounts. After Phyllis has set up the balance control accounts, April, the
Accounts Payable Coordinator, verifies the expected balance of the bank account
to make sure the balance is sufficient to pay invoices. The expected balance
includes posted and unposted journals.
3-12
Follow these steps to view the current and expected balance of a balance control
account.
1. From the Journal form, select a journal.
2. Click the Lines button.
3. From the Journal voucher form, click the Inquiries button, and
then click Balance control.
3-13
3-14
Set Up Journals
Scenario
Ken, the Controller at Contoso, must set up two journals in Microsoft Dynamics
AX 2009. One journal records vendor invoices daily and a second journal records
where periodic rent entries will be recorded. The table provides additional
information about the journals.
Journal
Option
Value
Vendor Journal
Name of Journal
Day3
Description
Vendor Invoice
Journal Type
Daily
Voucher Series
Acco_18
Account Type
Ledger
Name of Journal
PerRent
Description
Rent Journal
Journal Type
Periodic
Voucher Series
Acco_23
Account Type
Ledger
Offset Account
131150
Journal control
605150
Rent Journal
Challenge Yourself!
Use the information in the table to set up the journals.
Step by Step
First, set up the Vendor Invoice journal.
1. Click General ledger, click Setup, click Journals, and then click
Journal names.
2. Press CTRL+N to add a line.
3. In the Name field, enter Day3.
3-15
3-16
Summary
After the journal setup is complete, Microsoft Dynamics AX 2009 is ready to
create journal and journal lines so that you can record vendor and customer
transactions.
You can set up journal validation and journal approval for every financial
journal. With journal validation, you can lace restrictions on users, accounts, and
modules. For each journal type, you can set an approval procedure for
verification before any update.
Because user rights are also important, you can select the level of detail kept in
fields and individual records. You can also define access as read, edit, add, or
delete.
3-17
3-18
2.
3.
3-19
Solutions
Test Your Knowledge
1. Task: Correctly order the following steps for working with journals.
2.
Step 4 : Post transactions.
Step 2 : Create new journal.
Step 3 : Create journal lines.
Step 1 : Set up journal names.
3. Use ___________ to monitor the current and expected balance on an account
as transactions are entered in a journal.
( ) Journal names
( ) Journal controls
() Balance control accounts
( ) General ledger parameters
3-20
Introduction
This course describes features that you can use across the various financial
modules in Microsoft Dynamics AX 2009.
This course describes how to set up reason codes, which let you analyze
transaction history by specific reason.
This course also describes how to use the Fill utility to update multiple records,
similar to find and replace functionality.
4-1
Reason Codes
Reason codes are standardized codes that you can use in various transaction types
or changes to field values which provide background data about the transaction.
For example, auditors or managers frequently want to see recorded reasons for
various transactions. When you use standard reason codes instead of transaction
text, users have guidelines on what codes to select from. Standard reason codes
provide management and auditors with the ability to analyze transaction history
by specific reason.
Use reason codes with:
Fixed Assets
General Ledger
Accounts Payable
Accounts Receivable
Bank
Scenario
Cassie, the Accountant at Contoso, is responsible for managing the company's
fixed assets. Contoso's auditors have required explanations for all new assets
purchased, in addition to certain changes to existing assets. Cassie has decided
that using reason codes will satisfy the auditors.
To accommodate the auditors requirement, Cassie establishes internal controls
in Microsoft Dynamics AX 2009 by setting up parameter values, which enforce
use of reason codes during various transactions and value changes in the
accounting records.
Cassie also develops a list of standard fixed asset reason codes and descriptions.
These codes can be used with asset transactions. For example, one of Contoso's
vehicles (vehicle number 17) was recently in an accident. Because of the accident
damage, Cassie must adjust downward the asset's value, service life, and
expected scrap value. She creates a reason code titled V-ACC-SC, with a
description of Vehicle Accident - Single Car for transactions related to this
accident.
Later, Cassie records the write-down adjustment to the vehicle and changes the
other asset values. Because of the selected parameter settings, she uses the VACC-SC reason code with the asset journals and the other forms that require
reason codes.
When the auditors next review the accounting records, they can see within the
accounting records and history forms that vehicle number 17 was adjusted
because of the accident and that no other car was involved in the accident.
4-2
4-3
4-4
Reason Codes
After you have created reason codes, select reasons for transactions or other
entries in the following forms.
Module
Transaction Type
Path
General Ledger
General journal
General Ledger
Process allocation
request
General Ledger
Elimination proposal
General Ledger
Consolidation, Online
Fixed Assets
Fixed Assets
Fixed Assets
Depreciation book
journal
Accounts Receivable
Cancel payment
4-5
Module
Transaction Type
Path
Accounts Receivable
Bank
Payment reversal
Accounts Payable
Invoice journal
Accounts Payable
Accounts Payable
NOTE: You must select the reason codes as available for all transaction types
within the journal line to be posted. This must include the ledger offset account.
For example, to use a reason code for a fixed asset journal line transaction, you
must enable the selected reason code for general ledger usage in the General
Ledger Reasons form.
Reason Comments
Optional reason comments can be entered on the respective Reasons form.
Although you can set up default reason comments for each reason code, no setup
is required.
If you select a reason code for a transaction, the default comment that is set up in
the Reasons form displays in the Reason comment field. You can change the
default reason comment. If you enter a reason comment first and then select a
reason code, the typed reason comment is not replaced.
4-6
Fill Utility
The Fill utility enables authorized users and/or administrators to mass-update
records, similar to the find and replace functionality. This utility assists
administrators or users during implementations or when business process
changes affect multiple records.
Scenario
Contoso has decided to change its payment terms. High-priority customers will
now receive a longer discount period. Instead of updating each account
individually, Phyllis, the Accounting Manager, will use the Fill utility to update
the discount terms of all high priority customers in one step.
4-7
4-8
Description
Name of table
Modified field
New value
Created by
Query statement
Old value
Summary
The Financial Features course described the setup of reason codes and the use of
the Fill utility.
4-9
2.
3.
4-10
Solutions
Reason Codes
Test Your Knowledge
What are reason codes?
MODEL ANSWER - Reason codes are standardized codes that you can use
in various transaction types or changes to field values which provide
background data about the transaction.
Fill Utility
Test Your Knowledge
Which of the following statements correctly describe the Fill utility? (Select all
that apply.)
() The Fill utility enables authorized users to mass-update records.
() Users can view a log of changes that the Fill utility made,
() The system prompts that users create a backup before they use the
Fill
Utility.
( ) The system automatically makes a back up before it uses the Fill
utility.
4-11
4-12
Introduction
Every manual posting you enter into Microsoft Dynamics AX 2009 is entered
through a journal. A journal is a type of worksheet where entries do not post
immediately. You can review, change, and verify them, however, until the
completed journal is ready for posting.
As discussed in the Journal Setup course, there are many ways to set up the
journals to control different kinds of entries and to apply an approval system so
that special journals post only after they have been approved. You also can
choose whether to keep the used journals for historical purposes.
This course explains journal management and journal transactions in the General
ledger module.
5-1
General ledger
Bank
Customer
Vendor
Projects
Fixed assets
In a general journal, users enter the relevant information for the transaction, such
as the:
Posting date
Amount
Accounts to post to
The information that users enter in a general journal is temporary and can be
changed as long as it remains unposted within the journal.
5-2
Click General Ledger, select Journals, and then click General Journal.
1. Press CTRL+N to create a new journal in the General journal
form.
2. Enter the name of the journal in the Name list, or select the name
from the journal name list for the general journal type. The journal
number is inserted automatically from the voucher series set up in
the Journal names form. The description from the Journal names
form also is inserted automatically, but you can overwrite it. The
voucher number is created automatically from the number sequence
set up in the General ledger parameters form, and the description
comes from the Journal names form.
NOTE: The Posted check box is selected automatically after the journal has
been posted. The General journal form filters journals by the Show field. You
can select to display only open, all, or posted journals.
5-3
Accounting date
Ledger account
Offset account
Use the Journal lines form is to enter transactions within a journal. Click the
Lines button on the General Journal to open the Journal lines form.
5-4
The Overview tab is where you make entries. It contains the basic information
needed to make a journal entry. You can use this tab to enter transactions in the
General Ledger.
When you set up the Overview tab, you can view or enter the posting date in the
Date field. The system date is the default, but you can change the field. The
Voucher field displays the voucher number for the transaction that is generated
from the number sequence in the Journal names form
NOTE: Set up a voucher series in the Number sequences by clicking Basic, then
clicking Setup, then selecting Number sequences, and then clicking Number
sequences. The voucher series is attached to the journal name in the Voucher
field series by clicking General Ledger, selecting Setup, clicking Journals, and
then clicking Journal Names. If you set the number sequence to Continuous and
you allow no user changes, the field is skipped automatically. Refer to the
Microsoft Dynamics AX 2009 Introduction manual for more information about
number sequences.
5-5
5-6
5-7
5-8
GenJrn
Journal Number
Description
Prepaid Rent
Account
131100
Transaction Text
Pay
Debit
6000
Offset Account
110180
Challenge Yourself!
Help Ken record the activity in the prepaid rent expense account in
Microsoft Dynamics AX 2009. Enter a journal for the prepaid rent
expense.
5-9
5-10
Cost
Center
Debit
010
0101
200
030
0401
500
030
0402
300
030
0403
400
Challenge Yourself!
Enter a journal for the auto insurance, using the correct dimensions.
5-11
5-12
5-13
Challenge Yourself!
Enter and post a journal for office expenses, using two lines of entry
instead of an offset account.
Step by Step
Create the General Journal:
1. On the Navigation Pane, click General ledger, then click Journals,
and then click General journal.
2. Press CTRL+N to add a line.
3. In the Name field, click the arrow to select GenJrn.
4. In the Journal number field, accept the system default.
5. In the Description field, enter Electricity.
6. Click the Lines button.
7. In the Date field, enter 06/25/2008.
8. In the Account field, click the arrow to select account 606300
(Office supplies expense).
9. In the Transaction text field, enter Inv. Use the Tab key to move to
the next field.
10. In the Debit field, enter 800.
11. Press the down arrow key to add a line.
5-14
5-15
General ledger
Accounts receivable
Accounts payable
Project
You can post journals immediately or set them up as a job for batch processing.
Scenario
Using Journal Batch Processing
Contoso uses batch processing at the end of its business day to process large jobs.
During the day, Susan, the order processor, opens and creates multiple journals.
The journals are not posted in case Susan must make corrections or add more
items to the journals during the day. At the end of the day, Susan runs a journal
batch job to post all the open journals at the same time.
5-16
NOTE: A power failure during posting can cause some journals to post while
others are unposted. If this occurs, start the posting again by using the same
criteria for subsequent selection in the original request. The journals that did not
get posted appear in this form for posting.
5-17
HINT: Use the Delete posted journals form (General ledger > Periodic >
Cleanup > Ledger journals clean up) to cleanse the Journals form. The Delete
posted journals form deletes all posted journals in the Journals form to free
space.
5-18
Challenge Yourself!
Select the unposted General journals and post them as a multiple journal set.
Step by Step
1. Click General ledger, then click Periodic, then click Post journals,
and then click the Select button.
2. In the Range tab in the bottom pane, click the line with the field
Journal type.
3. In the Criteria field, click the arrow to select Daily.
4. Click OK in the Ledger JournalMultiPost form.
5. Click OK in the Post journals form.
6. An Infolog form displays and provides information for issues in the
journal that affect posting.
7. Close the Infolog form.
5-19
Approval Journals
Use Microsoft Dynamics AX 2009 to set up an unlimited number of journal
templates in the Journal names form. You can set up the journal templates with
or without a mandatory approval of the transactions before posting. The person
responsible for journal routines sets up the approval system in one of the
journals.
5-20
2. Enter the name of the journal that you use throughout Microsoft
Dynamics AX 2009 in the Name field. Give it a name that is
recognizable by its name alone.
3. Enter a description of the journal's purpose in the Description field.
4. Select the type of journal in the Journal type field. The journal type
determines what the journal is used for and which module it is
available in. For example, the Customer payment journal type is used
only for customer payment journals. The customer payment journal
is used only within Accounts Receivable, to post a payment directly
to a customer account. Therefore, a description such as AR
Payment would be appropriate when you select this journal type.
5-21
5-22
5-23
5-24
NOTE: If the journal has errors, click Approval, and click Reject.
Scenario
Phyllis, the Accounting Manager for Contoso, has the responsibility for
guaranteeing the accuracy of transactions posted in Microsoft Dynamics AX
2009. Phyllis has noticed many errors on entries posted by Alfredo Fuentes
Espinosa (AFE) in the GenJrn journal, a journal used only by Admin. Now
Phyllis has decided that entries made to GenJrn must be approved by a member
of the Finance team, Alex Roland (ASR). Phyllis needs help establishing the
proper procedures to enable this approval.
User ID
User Group
User ID
User Group
Request to Enable Journal Approval
Journal Name
Active
Select
Approve
Private for user group
5-25
Because only Admin makes entries to the GenJrn journal, you can
use the Private for user group field to prevent other users from
accessing the journal. If you do this, however, then the approving
user must also be a member of the Private for user group value
selected to see the journal for approval.
User ID
AFE
User Group
Admin
User ID
ASR
User Group
Finance; Admin
Journal Name
GenJrn
Active
Select
Approve
Finance
Admin
Voucher Templates
A voucher template is a voucher that you can use as the basis of future vouchers.
Use voucher templates with a general journal or an accounts payable invoice
journal.
Scenario
Phyllis, the Accounting Manager at Contoso, is entering a voucher to record
interest expense on a fixed-rate long-term note. The voucher debits Interest
Expense and credits Interest Payable for 350.00 U.S. dollars (USD) each.
5-26
Scenario
April, the Accounts Payable Coordinator, receives a telephone bill that she must
enter. At Contoso, April records the telephone expenses across all departments
equally. April enters the voucher with the appropriate department breakdown.
The following table shown is an example of the distributions for an invoice in the
amount of 600.00 U.S. dollars (USD).
Account
Debit Amount
150 USD
150 USD
150 USD
150 USD
Accounts Payable
Credit Amount
600 USD
April saves this entry as a Voucher template by percent. This will hold the value
assigned to each account as a percentage of the total. In this case, April will
assign each department 25 percent.
The next time April receives the telephone bill, she must retrieve the Voucher
template and enter only the amount of the telephone bill. The distributions then
are created based on the original percentage.
5-27
5-28
Periodic Journals
A periodic journal is a journal that users enter only periodically. For example:
Then, each month, the user retrieves the journal and posts it with the
appropriate accounting date.
5-29
NOTE: When you create a new periodic journal, the Period journal you select
must first exist as a Journal name with Journal type periodic in the Journal
names form. This can be found by clicking General ledger, then clicking Setup,
then clicking Journals, and then clicking Journal names.
NOTE: After you create the periodic journal, you can post or delete the General
journal that you created by these steps. A record will be created automatically in
the Periodic journals form found by clicking General ledger, then clicking
Periodic, and then clicking Periodic journals.
5-30
5-31
Unit field - Select the unit to use for the selected periodic
transaction, for example, Months for monthly postings. If you do not
select a date, the Unit field does not apply.
Last date field - This field contains the Session date of the last time
you transferred the periodic line to a journal. The system updates the
field automatically.
5-32
5-33
RentExp
Description
Rent Expense
Date
06/30/2008
Account
131100
Transaction Text
Rent Expense
Credit
$1,000.00
Offset Account
605150 Rent
Expense
Unit
Month(s)
Number
Challenge Yourself!
5-34
5-35
5-36
Inquiry on tracing
Inventory transactions
NOTE: You also can enable Reason codes for transaction reversal.
5-37
5-38
Reports
Inquiries
Periodic jobs
5-39
NOTE: Reversed tracing is active only for reversed transactions and reversed
transactions that you revoke.
Reversing Entries - GL
The action of reversing entry functionality lets users enter a general journal
transaction with a reversing date. After you post the transaction in the general
journal, the original transaction is posted based on the transaction date, and the
transaction reversal is posted based on the reversing date.
The action of reversing entry functionality provides an easy way to perform
transaction reversal for accruals. You need accrual type transactions to accurately
reflect balances on financial statements.
5-40
Debit amount
50 USD
Credit amount
50 USD
Because the full payment will not be made until October 15, Phyllis sets the
previous transaction with a reversing date of October 1. This action creates a
reversal of the previous transaction in the new accounting period, as shown in the
following table.
Account
Debit amount
50 USD
Credit amount
50 USD
When the actual transaction for payment of interest is entered on October 15, the
following transaction occurs:
Account
Debit amount
50 USD
Credit amount
50 USD
The overall balance for the interest expense for October is a debit of 50.00 USD.
5-41
HINT: If a Transaction text is defined in Basic > Setup > Transaction Text for
Ledger - Reversing Entry, the text will be used automatically as prefix text in the
reversing entry's transaction text field.
5-42
5-43
General Ledger, then click Reports, then click Journals, and then
click Nonposted Journal Lines.
NOTE: The account must be the account in the Chart of Accounts. For example,
no value displays if you enter the account in the journal as a debit to the bank
account, and then later you make an inquiry on the ledger account for that
specific bank account.
The Non-posted journal lines report prints the journal lines that have not yet been
posted.
5-44
5-45
5-46
The total of all the debit balances should equal the total of all the
credit balances. If the debits do not equal the credits, then an error
occurred somewhere in the process.
The total of all accounts on the debit side and on the credit side is
known as the trial balance. Print the trial balance to verify the debits
and the credits equal.
5-47
5-48
Summary
By using the connectivity in Microsoft Dynamics AX 2009, many transactions in
the general ledger are posted automatically. This applies to sales and purchases,
cost of goods sold, discounts, interest payments, exchange rate adjustments of
accounts receivable and accounts payable, project invoices and costs, work in
progress, fixed asset transactions and inventory transactions.
However, you also can enter General Ledger transactions manually when you use
general ledger journals. You can control the posting in the journals by the way
you set up of the Chart of Accounts and the journal templates. The journal itself
offers various posting options, as well.
5-49
2.
3.
5-50
Solutions
Enter General Ledger Transactions
Test Your Knowledge
General journals are used to post transactions in which of the following
accounts? (Select all that apply.)
() General ledger
() Bank
() Customer
() Vendor
The information you enter in a general journal is temporary and changeable as
long as the journal is unposted.
() True
( ) False
What information are needed to create a journal entry? (Select all that apply.)
() Accounting date
() Ledger account
() Offset account
() Debit or credit amount
5-51
Voucher Templates
Test Your Knowledge
With which journals can you use voucher templates? (Select all that apply.)
() General journal
( ) Fixed assets journal
() Accounts payable invoice journal
( ) Purchase journal
Which voucher template type allows users to recreate a voucher for the same
accounts and values as the original entry?
( ) Percent
( ) Division
( ) Aggregate
() Amount
5-52
5-53
5-54
Introduction
The requirements for tax calculation and tax reporting differ significantly for
different countries. Therefore, the tax module of a true international Enterprise
Resource Planning (ERP) system must be comprehensive. In Microsoft
Dynamics AX 2009, the tax module offers many different options for:
Tax calculation
Posting
Reporting
This course explores the extensive functionality for sales tax handling.
6-1
The user specifies the sales tax authorities by using the Sales tax
authorities form.
The user specifies when and how frequently to settle under sales tax
settlement periods.
6-2
If you sell the item P Lamp to customer TTL Tire, the system calculates the sales
taxes based on tax codes CA and Fed because those codes exist in both groups.
When you attach settlement period and posting group to the tax codes, you
specify how to post and pay the taxes. Finally, you can set up the tax reporting on
the sales tax code.
The system attaches the ledger accounts that the taxes are posted in
to the sales tax code.
6-3
Because each ledger account can use several tax codes, a ledger
posting group determines posting.
Each ledger posting group can contain several ledger accounts. The
description field for that account indicates the way each account is
used.
You can set up ledger accounts that have the posting type Sales tax
to select the accounts in the Account group form.
Sales-tax payable
Use-tax payable
Settlement account
1. Click General ledger, then click Setup, then click Ledger posting
groups, and then click the Overview tab.
2. Enter a unique name for the ledger posting group in the Ledger
posting group field.
3. Enter a meaningful name to describe the ledger posting group in the
Description field. The description appears on reports and other areas
throughout Microsoft Dynamics AX 2009.
6-4
HINT: Describe the groups so that you can recognize them. This description
appears with the code of the ledger posting group.
4. Select the ledger account in the Sales tax payable list, where you
must post the outgoing sales tax as part of the company's revenue.
The system debits the outgoing tax in the customer account and then
credits this account. Debits automatically are recorded in the account
and settled upon payment of the taxes. The ledger accounts available
in the Sales tax payable list are the posting type of sales tax on the
Setup tab in the Chart of accounts form. However, if you want to
select other ledger accounts, click According to account type in the
Sales tax payable, Use tax payable or Settlement account lists.
Debit ($)
Customer account
(Accounts Receivable)
100
Credit ($)
Sales account
(domestic)
95
** The sales tax payable line represents the ledger account specified in the Sales
tax payable field on the Ledger posting group form. The system credits this
account for sales tax amounts received from customers and debits the appropriate
customer accounts.
6-5
Debit ($)
Vendor account
(Accounts payable)
Credit ($)
100
Inventory account
(Expense account)
95
2. Enter the ledger account for posting deductible incoming taxes that
vendors do not claim or report to the tax authority in the Use-tax
expense list.
NOTE: If the Apply US sales tax and use tax rules check box is selected on the
General Ledger Parameters form on the Sales tax tab, the Sales tax payable
field is unavailable. Instead, the system debits sales taxes paid to vendors as
expenditures (costs) to the same accounts as the purchases.
6-6
Non-U.S. taxes - You must indicate a use tax expense account for the
Ledger posting group. For any sales tax groups that contribute
amounts to this ledger account, you must select the Use Tax field on
the Setup tab on the Sales tax group form, found at General
Ledger, Setup, Sales tax.
U.S. taxes - The amount in this account offsets the taxes posted as
expenses if the Apply US sales tax and use tax rules check box is
selected on the Parameters form. The vendor is not required to
collect the tax. However, the company may still owe taxes to a sales
tax authority and must track such taxes.
Debit ($)
Credit ($)
Vendor account
(Accounts Payable)
100
Office supplies
(Expense account)
105
6-7
6-8
Challenge Yourself!
Create an account to record the sales tax payable and the sales tax
settlements for the Alabama customer.
Step by Step
Set up the ledger account:
1. On the Navigation Pane, click General ledger, then click Chart of
Account details.
2. Press CTRL+N to add a line.
3. In the Ledger account field, enter 220105.
4. In the Account name field, enter Alabama state sales tax payable.
5. In the Search name field, enter ALsales tax pay.
6. In the Account type field, click the arrow to select Balance.
7. Click the Setup tab.
8. In the Posting type field, click the arrow to select Sales tax.
9. Close the Chart of accounts form.
6-9
6-10
1. Click General ledger, then click Setup, then click Sales tax, click
Sales tax authorities, and then click the Overview tab.
2. Enter a unique code for the authorities that you send tax declarations
and payments in the Authority field. Microsoft Dynamics AX 2009
uses this code throughout the system to refer to a particular authority.
3. Enter the name of the tax authority in the Name field. It displays on
reports and in other areas throughout the system.
NOTE: Give the tax authority a name that easy to identify. The name display
together with the tax authority code.
6-11
6-12
6-13
Challenge Yourself!
Set up the Alabama sales tax authority. Use ALA for the authority name.
Step by Step
1. On the Navigation Pane, click General ledger, then click Setup,
then click Sales tax, and then click Sales tax authorities.
2. Press CTRL+N to add a new line.
3. In the Authority field, enter ALA.
4. In the Name field, enter Alabama Authorities.
5. In the Report layout field, click the arrow to select U.S. report
layout.
6. Click the General tab.
7. In the Rounding form field, click the arrow to select Normal.
8. In the Round-off field, enter .01.
9. Close the Authority form.
6-14
When she runs the Sales tax payment periodic job, the amount the
company owes the sales tax authority transfers to the sales tax
authority's vendor account.
To automate payments to the Alabama sales tax authority, Phyllis has asked you
to set the Alabama sales tax authority up as a vendor. Use the following
information for the vendor.
Field
Value
Name
State of Alabama
Search name
AL tax
Group
10
Terms of payment
M15-Month end + 15
days
Method of payment
USAUSD_CHK
Challenge Yourself!
6-15
Step by Step
Ensure that the setup is correct for automatic vendor numbering:
1. Click Basic, then click Setup, then click Number sequences, and
then click Number sequences.
2. Select the AP_001 number sequence.
3. Click the General tab.
4. Make sure that the Manual check box is not selected.
5. Close the Number sequences form.
Set up the vendor:
1. On the Navigation Pane, click Accounts payable, then click Vendor
details.
2. Press CTRL+N to add a line. In Contoso, because of accounts
payable setup, the next available vendor number is assigned
automatically.
3. In the Name field, enter State of Alabama.
4. In the Search name field, enter AL tax.
5. In the Group field, click the arrow to select 70- Tax Authorities.
6. Click the Payment tab.
7. In the Term of payment field, use the arrow to select M15.
8. In the Method of payment field, use the arrow to select
USAUSD_CHK.
9. Close the Vendor form.
Assign the vendor to the authority:
1. On the Navigation Pane, click General ledger, then click Setup,
then click Sales tax, and then click Sales tax authorities.
2. Locate the line for Alabama Authorities.
3. In the Vendor account field, click the arrow to select State of
Alabama.
4. Close the Authority form.
6-16
Monthly
Quarterly
Yearly
6-17
6-18
CAUTION: The sum of period intervals must cover whole periods so that no tax
transactions fall outside the calculation periods. Period intervals may not
overlap.
6-19
View the sales tax payments for a specific sales tax authority by
selecting a sales tax authority on the Overview tab and clicking
Sales tax payments. Additionally, view sales tax payments for a
specific period by selecting an interval on the Periods tab and
clicking Interval sales tax settlements.
HINT: Click General ledger > Reports > External > Sales tax payments to
print a report about all settled sales taxes.
View posted sales tax transactions for a specific sales tax authority
by selecting a sales tax authority on the Overview tab and clicking
Posted sales tax. This provides an overview of each sales tax
transaction, which is posted in Microsoft Dynamics AX 2009 with a
sales tax code. Alternatively, click Sales tax per interval to view
posted sales tax transactions for a specific interval.
Use settlement periods to create and manage the periods the company uses to
report sales tax.
6-20
January 1 - March 31
April 15
April 1 - June 30
July 15
July 01 - September 30
October 15
October 1 - December 31
April has asked for your assistance in completing the setup for the Alabama sales
tax settlement so that April can generate the tax payments automatically.
Challenge Yourself!
Set up the required sales tax settlement for Alabama.
Step by Step
Set up the Overview tab:
1. On the Navigation Pane, click General ledger, click Setup, click
Sales tax, and then click Sales tax settlement periods.
2. Press CTRL+N to insert a line.
3. In the Settlement period field, enter AL.
4. In the Description field, enter Alabama Quarterly.
5. In the Authority field, click the arrow to select ALA-Alabama
Authorities.
6. In the Terms of payment field, use the arrow to select N015.
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6-22
The sales tax value is very important because no tax is calculated without it.
A sales tax code includes information about:
6-23
1. Click General ledger, then click Setup, click Sales tax, then click
Sales tax codes, and then click the Overview tab.
2. Press CTRL+N to create a line for the new sales tax code.
3. Enter a unique identifier for the sales tax code in the Sales tax code
field. This is the basis for calculation of tax, purchase duty, and
packing duty throughout Microsoft Dynamics AX 2009.
4. Enter a meaningful name for the new sales tax code in the Name
field. This describes the function of the code and appears on reports
and throughout the Microsoft Dynamics AX 2009 system.
NOTE: If a company operates in the United States, set up sales tax jurisdictions
in the Sales tax jurisdiction list.
5. Select the period and the sales tax authority used to calculate the
sales tax code in the Settlement period list.
6. Select ledger posting group for a sales tax code in the Ledger
posting group list. The posting group contains information about
which accounts to use when the sales tax amounts automatically are
posted in the General Ledger. You can create the posting groups in
the Ledger posting groups form.
6-24
Amount per unit - Indicate the unit with a Unit. If the transaction
is in another unit, it converts automatically based on Unit
conversion in Inventory.
6-25
Round-off =
0.10
Round-off =
1.00
Round-off =
100.00
98,765.43
98,765.40
98,765.00
98,800.00
6-26
NOTE: In the Parameters form (click General ledger, click Setup, click
Parameters, and then click the Sales tax tab), select the Calculation date type to
determine the date that sales tax calculates. In the Method of calculation list,
select whether the sales tax should calculate for each line or the total amount.
Setup 2 - Use
percentage of sales
tax
Rate
Duty 1
Percentage of net
amount
Percentage of net
amount
10%
Duty 2
Percentage of net
amount
Percentage of sales
tax (Duty 1 in the
sales tax on sales tax
list)
20%
Sales Tax
Calculation
Percentage of gross
amount
Percentage of gross
amount
25%
6-27
10%
Duty 2
20%
Formula
Setup 2
Calculation
Formula
Calculation
Gross
Amount
Sales Tax
Calculation
25%
Duty +
Sales Tax
Total Sale
The completed table will be shown in the next lesson section.
Formula
Calculation
Formula
Calculation
Duty 1
10%
$10 *
10%
$1.00
$10 *
10%
$1.00
Duty 2
20%
$10 *
20%
$2.00
($10+1)
*20%
$2.20
$10+1+2
$13.00
$10+1+
2.20
$13.20
$13 *
25%
$ 3.25
$13.20
* 25%
$ 3.30
Duty +
Sales Tax
$1+2+3.
25
$ 6.25
$1+2.20
+3.30
$ 6.50
Total Sale
$10 +
6.25
$16.25
$10 +
6.50
$16.50
Gross
Amount
Sales Tax
Calculation
6-28
Setup 2
25%
Sales taxes lower than the minimum limit amount are not recorded, and sales
taxes over the upper limit amount are set to the upper limit amount automatically.
You can attach the limits to specific dates. The sales tax code defines the limits.
Changes to minimum and upper limits do not affect sales tax that is already
updated and posted.
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6-30
6-31
6-32
6-33
Maximum limit
Tax rate
0.00
50.00
10%
50.01
100.00
9%
100.01
0.00
8%
Challenge Yourself!
Use sales tax code intervals to structure the AV_FLST tax rate in
Microsoft Dynamics AX 2009 for the new rates.
Step by Step
Edit the LA-FLST line:
1. On the Navigation Pane, click General ledger, then click Setup,
then click Sales tax, and then click Sales tax codes.
2. Locate the line for AV_FLST.
3. Click the Values button.
Edit the existing line by adding dates:
1. In the From date field, enter 01/01/2003.
2. In the To date field, enter 06/30/2008.
3. Press CTRL+N to add a line.
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6-35
Foreign customers
VAT
Yes
No
Export Tax
No
Yes
Environmental
Duty
Yes
Yes
The two groups of customers (domestic and foreign) do not have identical tax
needs. Therefore, you must create two different sales tax groups that reflect the
differences:
Foreign customers: this group would contain the Export Tax and
Environmental Duty tax codes
After you create the sales tax groups, attach the appropriate sales tax group to:
6-36
Customers
Vendors
Ledger accounts
Because the geographic location of the customer or the supplier determines taxes,
you usually assign the same Sales tax group to similar trading partners in the
system. The correct tax codes used by the system are attached to this Sales tax
group. The Sales tax group then associates with customer information specified
in the Sales tax group field found on the Setup tab in the Customers form.
1. Click General ledger, then click Setup, then click Sales tax, then
click Sales tax groups, and then click the Setup tab.
2. Enter a unique name for the sales tax group in the Sales tax group
field.
3. Enter a name that identifies the sales tax group in the Description
field.
4. Select Sales tax code in the Sales tax group setup list. If the
company is located in a country with sales tax jurisdiction, select the
Sales tax jurisdictions value.
NOTE: If the Sales tax jurisdictions value is selected in the Sales tax group
setup list, a new tab called Jurisdictions setup appears.
5. Select the rounding criteria for the sales tax group in the Rounding
by list.
6-37
Sales tax codes Rounding is according to the sales tax code roundoff. You can see the value in the Round-off field on the Calculation
tab of the Sales tax codes form.
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6-40
1. Click General ledger, then click Setup, then click Sales tax, and
then click Item sales tax groups.
2. Enter a unique name for the item sales tax group in the Item sales
tax group field on the Overview tab, and a description in the
Description field. This information appears on reports and in other
areas throughout Microsoft Dynamics AX 2009.
3. Select the sales tax code for an item sales tax group on the Setup
tab. For a sales tax code to be valid, you must select it for the sales
tax group and the item sales tax group. The sales tax codes
calculated are determined automatically when you post.
6-41
Set up a default item sales tax group for all ledger accounts
Set up default item sales tax groups for particular ledger accounts, if
necessary
You can change any default item sales tax group that appears automatically on a
journal line as necessary before the transaction posts.
NOTE: In sales journals, purchase journals, and other journals where you enter
an item number, the item sales tax group attached to the item automatically is
entered on the journal lines.
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6-45
Set up two accounts in the Chart of Accounts: one for the Arkansas
state sales tax payable (account 220107) and one for the Little Rock
city sales tax payable (account 220245)
6-46
Field
Value
Name
City
Little Rock
State
AR
ZIP Code/Postal
Code
72205
Group
10
Currency
USD
Terms of Payment
N030
Value
Name
The Arkansas
Department of
Revenue
Search Name
AR tax
Group
70
Terms of Payment
M15
Method of Payment
USAUSD_CHK
You can set up the sales tax authority by using the U.S. Report layout. Plan to
round taxes in a typical manner to the nearest penny. Any gain or loss that occurs
when you round will post to account 618160.
The tax breakdown for city and state taxes is as follows:
City of Little Rock: three percent, the maximum tax limit that can be
paid is $1000 in sales tax
Challenge Yourself!
Setup two ledger posting groups, by using ARST for Arkansas and
LRAST for Little Rock.
Enter a sales tax settlement period (AR) to use for each code. The
term of payment is fifteen days. The settlement period is an interval
of one month. Then set up three new periods starting with the
beginning of the current month.
Plan to set up two sales tax codes, one for each authority, by using
the codes ALL_LRCITY and ALL_ARST. Use the standard ledger
posting group for each tax code.
Add the two new sales tax codes to the ALL item tax group.
After you complete the sales tax setup, record the invoice in an
accounts payable Invoicejournal. Make sure when creating the
journal that you have deselected the field Amount incl. sales tax
found on the Setup tab of the journal. Set your session date to
6/30/2008.
6-47
Step by Step
Set up Blue Yonder Airlines as a vendor:
1. On the Navigation Pane, click Accounts payable, then click
Vendors.
2. Press CTRL+N to add a line. In CEU, the next available vendor
number is assigned automatically based on setups in the sample data.
3. In the Name field, enter Blue Yonder Airlines.
4. In the Search name field, enter Blue Yonder.
5. In the Group field, click the arrow to select 10.
6. Click the Address tab. Click CTRL+N to create a new address.
7. In the Zip code field, enter 72205.
8. Verify that the tab entries are correct; these values were populated
automatically based on setups in the sample data.
9. Click the Payment tab.
10. In the Term of payment field, use the arrow to select N030.
11. In the Method of payment field, use the arrow to select
USAUSD_CHK.
12. Click the Save icon on the toolbar.
Set up the Arkansas Department of Revenue as a vendor:
1. Click the Overview tab.
2. Press CTRL+N to add a line. The next available vendor number is
assigned automatically.
3. In the Name field, enter The Arkansas Department of Revenue.
4. In the Search name field, enter AR tax.
5. In the Group field, click the arrow to select 70.
6. Click the Payment tab.
7. In the Term of payment field, use the arrow to select M15.
8. In the Method of payment field, use the arrow to select
USAUSD_CHK.
9. Close the Vendor form.
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6-49
6-50
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6-52
Challenge Yourself!
Help Ken find the two forms within Microsoft Dynamics AX 2009 that can
specify whether the journal amounts include sales tax.
Step by Step
Follow these steps:
1. On the Navigation Pane, click General ledger, then click Setup, and
then click Parameters.
2. Click the Sales tax tab.
3. In the Amount incl. sales tax field, select the field.
4. Close the form.
5. On the Navigation Pane, click General ledger, then click Setup,
then click Journals, and then click Journal names.
6. Click the General tab.
7. In the Amount incl. sales tax field, select the field.
8. Use the GenJrn journal.
9. Close the form.
6-53
1. Click General ledger, then click Periodic, then click Sales tax
payment, then click Sales tax payment.
2. In the Settlement period list, select the settlement period for when
the sales tax payment is being calculated.
3. In the From date field, enter the first day of the sales tax settlement
period to be calculated. This corresponds to the date in the From
date field on the Sales tax settlements period form.
4. In the Transactions date field, enter the date for when the sales tax
report is calculated. The default value is the system date. However,
you can change this date. For example, if you enter the end date of
the settlement period, the sales tax payment calculates for all
transactions that are posted in the settlement period.
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HINT: To report the sales tax payment correctly to the sales tax authority,
select the correct report format in the Report Layout list on the Sales Tax
Authority form.
HINT: Click General ledger > Reports > Transactions > Periodic > Sales tax
list to print a report about sales tax postings that you have not yet updated.
6-56
NOTE: Create a posting profile for the purpose of posting sales tax on
prepayments in Accounts receivable > Setup > Posting profiles in the Posting
profiles form. Then select the appropriate ledger account on the Setup tab in
the Sales tax prepayments list.
4. Select the Prepayment check box on the Payment tab when you
post a prepayment through a journal. If you omit this step, the sales
tax posts incorrectly.
5. When you create a sales invoice and settle the prepayment, an
automatic transaction on the sales tax prepayments account offsets
the first temporary sales tax transaction.
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6-59
The sales tax group and sales tax rate is recorded automatically on
the transaction.
If the invoice has sales tax exemptions, it groups the transactions according to
sales tax exempt descriptions.
6-60
1. Click General ledger, then click Setup, then click Sales tax, then
click Sales tax exempt codes.
2. Press CTRL+N to create a new sales tax exempt code and then enter
the Exempt code and the Description. Close the Sales tax exempt
code form.
3. Open General ledger, then click Setup, then click Sales tax, and
then click Sales tax group. On the Setup tab, select the sales tax
code that you want to use, select the Exempt check box and select an
exempt code in the Exempt code list. The description of the sales tax
exemption prints on the same line as the exempt code. Close the
form.
4. Open General ledger, then click Setup, then click Sales tax, and
then click Sales tax code. Select the sales tax code that you checked
as exempt on the Sales tax groups form in the Setup tab in step 2 of
this process.
5. Click Print code in the Print list in the Sales tax code form on the
General tab to print the sales tax exemption description in trade
documents. The print code and the sales tax rate do not print on the
sales tax specification line because several sales tax codes with
different sales tax rates may be involved.
6-61
NOTE: You also can print sales tax exempt rates on interest notes and collection
letters. Select the Print sales tax exempt number on interest notes and
collection letters check box in Accounts receivable > Setup > Forms > Form
setup > Interest notes/collection letter tabs.
NOTE: You can set up tax exempt numbers for customers and vendors in the
Customers or Vendors form on the Setup tab.
6-62
Challenge Yourself!
Set up the sales tax system so that, when you use tax codes that are marked
exempt in the tax system, the Exempt code prints on invoices.
Create a new sales tax code named Exempt. Use the Settlement periods, Ledger
posting groups, and Sales tax groups already set up in the data for California.
Use the following data:
Field
Data value
Settlement period
CA
Ledger posting
group
CAST
CA
Customer
9100
Item number
1000
Exempt code
Subsidiary
Description
Sales to Subsidiary
Step by Step
Follow these steps:
1. Click General ledger, then click Setup, then click Sales tax, then
click Sales tax exempt codes.
2. Press CTRL+N to create a new sales tax exempt code and then enter
Subsidiary in the Exempt code field and Sales to Subsidiary in the
Description field. Close the Sales tax exempt code form.
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6-66
Allow for the journal to propose this setup by default when you enter
a payment into a journal for a vendor who is set up for withholding
tax. However, you also can edit the calculated amounts, select a
different withholding tax, or deactivate the withholding tax
calculation for this particular payment.
Follow these steps to set up withholding tax in Accounts Payable and General
Ledger:
1. Click Accounts Payable, and then click Vendors.
2. Select the Calculate withholding tax check box and a withholding
tax group to start the calculation when you enter a payment in a
journal on the Setup tab.
6-67
You see no entry in the Invoice field on the journal line's Invoice tab
6-68
Summary
The requirements for tax calculation and tax reporting differ greatly for different
countries. Therefore the tax module of a true international ERP system must be
comprehensive.
In Microsoft Dynamics AX 2009, the tax module offers many different options
for tax calculation, posting, and reporting. The features include:
Percentage calculation
Tax on tax
EU tax
Tax exemption
Packing duty
For EU countries, special EU statistic reports such as Intrastate and EU sales list
are also available.
6-69
2.
3.
6-70
Solutions
Ledger Posting Groups
Test Your Knowledge
Each ledger account can use several tax codes. True or False?
() True
( ) False
Changes that you make to the ledger account numbers in ledger posting groups
only affect ____.
( ) Posted transactions
( ) Deleted transactions
() Not yet posted transactions
( ) Posted transactions from previous months
Before creating ledger posting groups, you must create a(n) _________ in the
General Ledger to link to ledger posting group.
( ) Tax Group
( ) Sales Tax
() Account
( ) Group
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6-74
Introduction
In Microsoft Dynamics AX 2009, companies use the Bank Management module
to create and maintain bank accounts. The bank account table contains a record
for each bank account. Each record contains bank account information, such as
the following:
Address
Currency
Check set up
The application uses this information to process all bank transactions, such as
payments and deposits.
To use the Bank Management module, set up the following:
Bank groups
Bank parameters
Bank accounts
Checks
7-1
Scenario
Annie, the bookkeeper at Contoso, must set up the banking functions for a new
company. Annie first sets up the kinds of transactions Contoso must make, such
as deposits and withdrawals. She then groups these transaction types to allow for
an additional level for reporting and analysis. Next, Annie sets up bank groups
for the banks with whom the company holds multiple accounts. Annie creates
payment purchase codes for reporting to the central bank. Finally, Annie
indicates which account is used for checks returned from the bank and the
number series that is used for banking documents.
After Annie finishes setting up the banking functions, she enters the information
for the company's bank accounts and indicates, for each account, how checks are
to be designed.
7-2
1.
2.
3.
4.
5.
Click Bank, click Setup, and then click Bank transaction type.
Press CTRL+N to create a new record.
Enter a unique code in the Bank transaction type field.
Enter the name of the transaction type in the Name field.
Click the Ledger account arrow to select the ledger account to post
corrections to and to add data for bank reconciliation.
6. Repeat steps 2 through 5 to create each new Bank transaction type.
NOTE: Only one bank transaction type can be marked as NSF.
7-3
7-4
7-5
Challenge Yourself!
Help Annie by creating a new bank transaction type of 20 for cash withdrawals
and a new bank transaction group of 80.
Step by Step
Create a bank transaction type for cash withdrawals.
1.
2.
3.
4.
5.
6.
Click Bank, click Setup, and then click Bank transaction type.
Press CTRL+N to insert a new record.
In the Bank transaction type field, enter 20.
Enter the name Cash Withdrawal in the Name field.
Leave the Ledger account field blank.
Close the Bank transaction type form.
7-6
Click Bank, click Setup, and then click Bank transaction groups.
Press CTRL+N to insert a new record.
In the Bank transaction groups field, enter 80.
Enter Bank Charges in the Description field.
7-7
7-8
7-9
Bank Groups
Use bank groups when several bank accounts share the same address information
or routing number. When you create a new bank account and enter the bank
group, the bank group information is copied to the account automatically. For
example, you can create a bank group for one financial institution at which five
accounts are open.
7-10
Bank Accounts
Enter and maintain all information for the company bank accounts in the Bank
accounts form. Use the buttons on the form to view the details for each bank
account, such as transactions, current balance, and checks that have been created.
7-11
7-12
7-13
7-14
1. From the Bank accounts form, click the Negotiable instrument tab.
2. Select the journal to hold the generated remittance fees from the Fee
journal list.
3. Enter any additional information about fees and the ledger accounts
to which the application posts the fees as required by the company in
the remaining fields on the Negotiable instrument tab.
4. Click the Address tab and enter the address for the bank.
5. Click the Contact Information tab and enter the information for the
bank group's contact person.
7-15
Challenge Yourself!
Step by Step
Create a new account for Cash in bank - CNY to the Chart of accounts.
1.
2.
3.
4.
5.
6.
7-16
Create the new bank group and assign the Chinese Yuan (CNY) to it.
1.
2.
3.
4.
5.
6.
7.
8.
Create the new bank account that is part of the CHTB bank group.
1. From the Navigation pane, click Bank, and then click Bank
Account Details.
2. Press CTRL+N to create a new record.
3. In the Bank account field, enter CNYBANK.
4. In the Name field, enter Bank Account - CNY.
5. Click the Bank groups arrow and select CHTB.
6. The Routing number field automatically will display 9876.
7. In the Bank account number field, enter 433090321489.
8. Click the Ledger account field arrow and select 110115.
9. The Currency field automatically displays CNY, which defaults
from the bank group.
10. Click the Setup tab. In the More currencies field, select the check
box to enable posting in more than one currency for this bank
account.
11. Close the Bank account form.
7-17
Check Layout
Use the Check layout form to set up the check layout for the bank accounts. You
can define a different check layout for each bank account.
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7-19
7-20
7-21
7-22
7-23
The checks must print two inches under the top of the page.
The bank account, name, and number must be printed on the check.
Challenge Yourself!
Step by Step
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
7-24
Summary
This course focused on how banking functions are structured in Microsoft
Dynamics AX 2009. Companies define bank transaction types to manage
transactions, such as the following:
Deposits
Fees
Payments
Companies then create groups of transaction types for analysis and reporting. In
Microsoft Dynamics AX 2009, companies have the option to create bank groups
for banks in which they hold more than one bank account.
The bank account window holds all the information about each company bank
account and provides quick access to detailed information about each account,
which includes transactions and current balance. For each bank account from
which checks are printed, companies define how the checks for that account will
look.
7-25
7-26
2.
3.
7-27
Solutions
Bank Transaction Groups
Test Your Knowledge
What is a Bank Transaction Group?
MODEL ANSWER - A bank transaction group is used to set up groups of
different bank transaction types. In the bank statement reconciliation, totals
can be calculated for each bank transaction group and for each bank
transaction type.
Bank Groups
Test Your Knowledge
What is a Bank Group?
MODEL ANSWER - A bank group is used when several bank accounts
share the same address information. When you create a new bank account
and enter the bank group, the bank group information is copied to the
account.
Check Layout
Test Your Knowledge
If you are using pre-printed checks, what method do you select in the Check
number method field?
( ) Variable
() Fixed
( ) Print
( ) Original
7-28
7-29
7-30
Introduction
This course describes the different Accounts Payable setup options in Microsoft
Dynamics AX 2009. It shows setup procedures and defaults used throughout the
Accounts Payable module. This course explains topics such as payment options,
vendor setup and posting profiles.
Microsoft Dynamics AX 2009 offers extensive functionality to set up different
vendor payment options. These global payment options are used in both the
Accounts Payable and Accounts Receivable modules, and include the following:
Payment schedules
Payment days
Terms of payment
Cash discounts
Methods of payment
Payment fees
This course also explains the vendor setup to help you manage vendors and
vendor transactions quickly and efficiently.
8-1
Payment Schedule
Use payment schedules to pay invoices in installments. Define the following to
set up a payment schedule:
Number of installments
Set amount
For example, an invoice of 10,000 USD is recorded. It is paid at 2,000 USD each
month until the balance is paid. During this period the invoice is not considered
past due as long as the scheduled payments are made on time. This is also known
as a finance plan, or contract payments.
8-2
Depending on the value selected in the Allocation list, different fields are
enabled on the General and Payment lines tabs.
8-3
8-4
Terms of Payment
Use the Terms of payment form to define all the terms of payment used by a
company and the vendors. Use a term of payment for calculation of a due date
based on the date of the invoice.
Specify terms of payment for each:
8-5
1. Click Accounts payable, click Setup, click Payment, and then click
Terms of payment.
2. Press CTRL+N to create a new record.
3. On the Overview tab, in the Terms of payment field, enter a code
or a short name for the term of payment.
4. Enter a descriptive name for the current terms of payment in the
Description field.
8-6
8-7
8-8
Payment Days
Use payment days to define the payment day used for calculating due date. The
due date always is rounded up to the nearest specified date.
Payment day can be specified for a specific:
1. Click Accounts payable, click Setup, click Payment, and then click
Payment Days.
2. Press CTRL+N to create a new record.
3. In the Payment day field, enter a short identification of the payment
day and enter a description of the payment day identification in the
Description field, on the Overview tab.
4. On the Payment day lines tab, select between Week and Month in
the Week/Month list. If Week is selected, select a value from the
Weekday list, and if Month is selected, enter in the Day field a
value between 1 and 31.
8-9
8-10
Challenge Yourself!
Help Cassie create the new term of payment titled N012 and assign it to the
vendor.
Step by Step
Create the new term of payment and name it N012.
1. Click Accounts payable, click Setup, click Payment, and then click
Terms of payment.
2. Press CTRL+N.
3. In the Terms of payment field, type N012.
4. In the Description field, type Net 12 days.
5. Click the Setup tab.
6. Click the Payment method arrow, and then click Net.
7. In the Days field, type 12.
8. Close the form.
Assign the new term of payment to the vendor Southbridge Insurance Co.
1.
2.
3.
4.
8-11
Cash Discount
Cash discounts are:
Scenario
Contoso obtains a cash discount if it pays vendor invoices within certain dates.
Contoso has set up the following codes:
The three cash discounts follow one another as the cash discount date nears.
However, only one cash discount is granted.
To specify the cash discounts following one another on the 5D10% code, the
10D5% code is selected in the Next discount code list. On the 10D5% code, the
14D2% code is selected in the Next discount code list. Finally, on the 14D2%
code the Next discount code is left blank.
8-12
1. Click Accounts payable, click Setup, click Payment, and then click
Cash discounts.
2. Enter an alphanumeric code for the cash discount in the Cash
discount field. For example, enter 7D4 to indicate the company
receives a four percent discount if payment is made seven days
before the due date.
3. Enter a brief description for the cash discount in the Description
field. For example, enter 7 days - 4% Discount for the discount code
7D4.
4. Select the cash discount code used when the criteria for obtaining the
current cash discount is exceeded in the Next discount code list.
This selection lets you to define a set of cash discounts that follow
one another.
8-13
8-14
8-15
8-16
Payment Fee
Use payment fees to:
Scenario
Contoso electronically transfers vendor-due invoice amounts to its bank and the
bank then transfers the money directly into a vendor's designated banking
account. After the invoice amount is transferred, a paper remittance advice is sent
automatically to each vendor explaining the specific account the payment is
posted to and also the amount of the payment issued.
To manage the payment fees from the bank, Contoso decides to set up payment
fees for vendor invoices.
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8-18
1. From the Payment fee form, click the Payment fee setup button.
2. Select the kind of bank information that is required to start the fee in
the Grouping list. The fee is valid for each field for:
o Table - The bank account selected in the field Bank relation
o Group - The bank group selected in Bank relation
o All - All the bank accounts
3. Select a bank relation from the Bank relation list if:
o A bank account - Table is selected in the Grouping list
o Bank groups - Group is selected in the Grouping list
o Skip - All is selected in the Grouping list
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8-21
1. From the Payment fee setup form, click the Interval tab.
2. Enter the number of days between the posting date (discounting date)
of the remittance and the due date of the promissory note in the Days
field.
3. Select whether the specification is a percentage or an absolute
amount in the Percentage/Amount field.
4. Enter the size of the fee in percent of the payment or amount for one
payment in the Fee amount field.
Methods of Payment
Many companies offer several methods to pay due invoices, such as the
following:
8-22
Credit
Cash in advance
Bill of exchange
Vendors
Journals
Purchase orders
8-23
Week - combines all invoices for vendors with a due date within
the same week
Total - combines all invoices from vendors for the same
payment
8-24
Format
Export format
Return format
Remittance
format
Action
Specify the format to export payment, for
example, a promissory note or a check
format. The export format tells Microsoft
Dynamics AX 2009 how to communicate
with the bank.
Enter a format to return a message from the
export format, if the bank supports an
electronic return file.
Enter a format for remittance to a specific
bank.
NOTE: If the format list is empty, click the Setup button and select from the
available formats.
8-25
8-26
Value
Payment status
None
Account type
Bank
Payment account
EUR OPER
Bank transaction
type
03
Fee account
618190
Export
Format 1 (Test)
Return
Challenge Yourself!
Help April set up the method of payment. Attach the new terms of payment and
cash discount to the vendor.
Assign the new method of payment to the vendor. Also, assign the
N014 terms of payment to the vendor, which specifies that the
balance is due in 14 days.
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8-28
Vendor Groups
Use vendor groups to set up certain information that always defaults when you
enter a new vendor.
For example, use the vendor group to set up automatic posting to General Ledger
accounts for consumption generated by vendor transactions.
In the Vendor groups form, set up vendor groups. You must set up at least one
vendor group, because a vendor group must be specified when you create a new
vendor.
Scenario
Contoso has multiple vendors to monitor. To simplify the management of
vendors, Contoso has set up several vendor groups to:
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8-30
Based on the kind of business that you run, decide which accounts you must set
up. The focus of finance is related to consumption and revenue accounts, whereas
the focus of logistics is the issue, receipt, and packing slip accounts.
8-31
Account code
All
All
All
Group
Table
8-32
Item
relation
B-R14
All
Account
relation
Account
number
510100
50
510800
510120
Item
relation
All
Table
B-R14
Account code
Account
relation
Account
number
Table
3000
510100
All
510120
8-33
Challenge Yourself!
Help April create a new vendor group that has automatic posting.
Assign the terms of payment as cash and the settle periods as COD.
Step by Step
Create a new vendor group, which is titled 13 for cash vendors. Assign a cash
terms of payment and COD settle period.
1. Click Accounts payable, click Setup, and then click Vendor
groups.
2. Press CTRL+N to create a new group.
3. In the Vendor group field, type 83.
4. In the Description field, type Cash Vendors for the description.
5. Click the Terms of payment arrow, and then click P007.
6. Click the Settle period arrow, and then click P007.
Assign the automatic posting to the new vendor group.
1. From the Vendor groups form, click the Setup button, and then
click Inventory posting.
2. Select Receipt.
3. Click the Item code arrow, and then click All.
4. Confirm that the Account code field is set to Group.
5. In the Account relation field, type 80 Other vendors.
6. In the Account number field, type 141250.
8-34
All vendors
Groups of vendors
Single vendor
When you post a vendor transaction automatically, the system searches for the
ledger accounts that are shown in the previous order. For example, if:
a posting profile line exists for the vendor, this line is used.
no posting profile line exists for the vendor, however, the line
specified for the vendor group that the vendor is attached to is used.
neither of these exists, the posting profile line for all vendors are
used.
In the Vendor posting profiles dialog box, you can set up many vendor posting
profiles. If all vendor transactions are processed together, set up only one posting
profile for all vendors.
8-35
1. From the Vendor posting profiles form, click the Setup tab.
2. Select an Account code:
o Table
o Group
o All
8-36
8-37
Value
Posting Profile
COD
Description
Account Code
Group
Account/Group
Number
80 - Other Vendors
Summary
Account
211100
Settle Account
110180
Arrival
211310
Offset Account
211320
Challenge Yourself!
Help April create the new vendor posting profile for group 80.
Step by Step
1. Click Accounts payable, click Setup, and then click Posting
profiles.
2. Press CTRL+N to create a new profile.
3. In the Posting profile field, type COD.
4. In the Description field, type Cash on delivery profile.
5. Click the Table restrictions tab.
6. Verify the Settlement check box is selected.
7. Verify the Cancel check box is selected.
8. Click the Setup tab.
9. Click the Account code arrow, and then select Group.
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8-39
Invoices
Payments
Reports
The base data automatically appears as the default for all transactions involving
the vendor.
Default information always can be changed.
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8-41
8-42
1.
2.
3.
4.
5.
8-43
8-44
8-45
8-46
Value
Vendor group
80 - other vendors
Credit limit
10,000
Method of
payment
Cash discount
4%D10
Terms of payment
N015
Challenge Yourself!
Help April create a new vendor.
Step by Step
Enable automatic vendor numbering.
1. Click Accounts payable, click Setup, and then click Parameters.
2. Click the Number sequences tab.
3. Notice that the number sequence code of AP_001 has been selected.
Right-click the value in the Number sequence code, and then click
Go to the Main Table Form.
4. From the Number sequences form, click the General tab.
5. Click the Manual check box to clear it.
6. Close the forms.
Create the new vendor.
1. Click Accounts payable, and then click Vendor details.
2. Press CTRL+N to create a new vendor. A new vendor account
number will be assigned automatically.
3. In the Name field, type Dakota Travel.
4. Tab to the Group field and type 80.
5. Click the General tab.
6. In the Credit Limit field, type 10,000.
8-47
8-48
Summary
Payment options in Microsoft Dynamics AX 2009 are flexible to accommodate
different business processes. You can:
Set up terms of payment for cash payment so that the payment posts
automatically when you issue the invoice.
8-49
2.
3.
8-50
Solutions
Payment Schedule
Test Your Knowledge
A payment schedule consists of _____________.
( ) payments
( ) consecutive time intervals
( ) consecutive payments
() consecutive payments in set time intervals
What elements must be defined to create a payment schedule? (Select all that
apply.)
( ) Vendor account
() Due date of each installment
() Amount of each installment
() Number of installments
Terms of Payment
Test Your Knowledge
Task: Outline the steps to setting up a term of payment. Place the following steps
in order.
Step 2 : Create a new record.
Step 3 : Type a terms of payment identifier.
Step 6 : Specify the days (or other time unit).
Step 5 : Select the payment method.
Step 1 : Access the Terms of payment form in Accounts Payable.
Step 4 : Type a description.
8-51
Cash Discount
Test Your Knowledge
Cash discounts are linked to what tables?
( ) Sales and Purchase Order
( ) Payment Days and Payment Fees
( ) Terms of Payment and Payment Days
() Customer and Vendor
Methods of Payment
Test Your Knowledge
What are some methods of payment a company might use? (Select all that apply.)
() Credit
() Cash in advance
() Check and electronic payments
() Bill of exchange
Vendor Groups
Test Your Knowledge
How many vendor groups must be set up?
( ) none
() one
( ) two
( ) ten
8-52
Generate a payment
Introduction
This chapter discusses the various Invoice Journals in the Accounts Payable
module of Microsoft Dynamics AX 2009. It describes what to use each Invoice
Journal for and how to enter transactions into each journal.
Purchasing goods for resale or as materials for manufacturing or services is a
large responsibility. Tracking those purchases and paying the vendors that supply
the goods is just as challenging.
Companies must monitor Accounts Payable closely and implement procedures to
enable management to easily obtain the financial information that they must have
to stay informed about changes in the costs of goods. To give an accurate view of
the financial condition of the business, all the expenses that affect the net profit
are included in Accounts Payable.
9-1
Registered
Approved
Paid
Invoice Register
Invoice Journal
Invoice Register
The purpose of the invoice register journal is to pre-register invoices when they
arrive at the company and transfer them to an invoice pool for approval. In the
invoice register journal, an employee registers the:
Vendor account
Invoice number
Amount
The same employee validates and posts the journal to the accounts specified in
the posting profile. Usually the accounts are pending accounts where the amounts
await the manual approval and reclassification by the person specified in the
journal line.
9-2
9-3
9-4
NOTE: Most of the fields on the General and the Setup tabs are inherited from
the Journal names form and the Exchange rate form. Explanations of these
fields are available in the topic about journal names and exchange rates.
9-5
9-6
9-7
9-8
9-9
9-10
9-11
9-12
Scenario
April, the Accounts Payable Clerk, registers an incoming invoice in the invoice
register and posts the registration. April sends the physical invoice to Phyllis, the
Accounting Manager, for approval. Phyllis approves the invoice with a signature
or a stamp and returns the invoice to April. April registers and posts the approval
in the invoice approval journal. Now the invoice is ready to be paid.
9-13
The invoice pool displays the relevant information about the invoices
awaiting approval.
NOTE: All tabs and fields in the Invoice pool form are discussed in the Invoice
Register lesson.
9-14
9-15
9-16
Value
Invoice register
Inv_R
Vendor account
3002
Invoice number
INV123
Transaction text
Invoice
Credit
150
Approved by
BKD
Terms of payment
D30
Cash discount
7D4
Invoice approval
Inv_A
Invoice approval
description
Invoice approval
601500
Challenge Yourself!
Use the invoice register, invoice pool, and invoice approval journal to complete
the workflow outlined in the scenario.
9-17
9-18
To post the lines, create a new invoice journal, and then click
Functions. Then select Invoice pool and accept the individual
invoices in the pool after you approve them.
If you activate the invoice pool by accessing the invoice pool excl.
posting item in the Accounts Payable menu, the invoices shown on
the window are registered, unapproved invoices. Although the
invoices are unposted, they are registered in the system.
Use the invoice journal to transfer the invoices for approval and
posting.
Scenario
April, the Accounts Payable Clerk at Contoso, registers the incoming invoice in
the journal invoice pool excluding posting. April sends the invoice to Phyllis, the
Accounting Manager, for approval. Phyllis approves the invoice with a signature
or a stamp and returns the invoice to April. April creates a new invoice journal,
uses the Function button to fetch the invoice from the invoice pool, and posts the
journal. Now the invoice is ready to be paid.
9-19
9-20
Value
Vendor account
3002
Transaction text
Invoice
Credit
1000
Invoice number
INV777
Vend_I
Invoice journal
description
Vendor invoice
Approver
BKD
Offset account
601500
Challenge Yourself!
Help April enter the invoices into the invoice pool excluding posting. Then help
Phyllis review and approve them in an invoice journal.
Step by Step
1. Click Accounts payable, click Journals, click Invoices, and then
click Invoice pool excl. posting.
2. Press CTRL+N to create a new journal.
3. In the Date field, type todays date.
4. Click the Vendor account arrow, and then click 3002.
5. Click the Transaction text arrow, and then click Invoice.
6. In the Credit field, type 1000.
7. In the Invoice field, type INV777.
8. Click the History tab.
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9-22
Invoice Journal
A third option for processing incoming invoices is to enter them directly into the
invoice journal.
By default, the user who is logged in and who enters the journal lines
approves the invoices.
The invoice journal is designed for users to enter the invoices they
receive from vendors without using the approval journal. As soon as
the user enters the incoming invoices, the user can post.
Scenario
April, the Accounts Payable Clerk at Contoso, enters the invoice directly into a
new invoice journal, and then approves and posts the journal. Now the invoice is
ready to be paid.
Journal form
9-23
Then
Post and transfer - Posts all correct vouchers in the journal and
transfers the lines with errors to a separate journal.
9-24
Value
APInv
Vendor account
3002
Invoice number
INV879
Credit
1300
Ledger
Offset account
211320
Challenge Yourself!
Help April enter, validate, and post a journal.
Step by Step
1. Click Accounts payable, click Journals, click Invoices, and then
click Invoice journal.
2. Press CTRL+N to create a new journal.
3. Click the Name arrow, and then click APInv.
4. Click the Lines button.
5. Click the Account arrow, and then click 3002.
6. In the Invoice field, type INV879.
7. In the Credit field, type 1300.
8. Click the Offset account arrow, and then click 211320.
9. Click the Validate button, and then click Validate.
10. Click Close to close the Infolog.
11. Click the Post button, and then click Post.
12. Click Close to close the Infolog.
9-25
Voucher Template
Use a voucher template as the basis of future vouchers. You can use voucher
templates with an accounts payable invoice journal.
Scenario
Phyllis, the Accounting Manager, is entering a voucher to record interest expense
on a fixed-rate long-term note. The voucher debits Interest Expense and credits
Interest Payable for 350 U.S. dollars (USD) each.
Phyllis must record this voucher for the same amount each month. To reduce
future data entry time, Phyllis decides to save the voucher as a voucher template
by amount.
The next time Phyllis records an interest expense, she selects the Load voucher
template action and chooses the interest entry. The original ledger accounts and
amounts load into the form.
Scenario
April, the Accounts Payable Coordinator, receives a telephone bill that she must
enter. At Contoso the telephone expenses are distributed across all departments
equally. April enters the voucher with the appropriate departments. The
following table is an example of the distributions for an invoice in the amount of
600.00 U.S. dollars (USD).
Account
Debit amount
150 USD
150 USD
150 USD
150 USD
Accounts Payable
Credit amount
600 USD
April chooses to save this entry as a Voucher template by percent. This will hold
the value assigned to each account as a percentage of the total. In this case, she
will assign each department 25 percent.
The next time April receives the telephone bill she must retrieve the Voucher
template and enter only the amount of the telephone bill. The distributions will be
created automatically based on the original percentage.
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9-27
Payment Journals
After you register, approve, and post the invoice, it is time to pay the invoice.
Payment journals have the following characteristcs:
Use the payment journal to enter and post payments. Make payments
and enter them into Microsoft Dynamics AX 2009 according to the
terms of payment established with the vendors. In the payment
journal there are several ways to create payment lines:
o
o
o
There are two methods for selecting the invoices to pay through the
payment journal.
o
o
After you create all the payment lines, use the Generate payments
command on the Functions button to generate the payment. This is
the selected method of payment and the setup of controls if
Microsoft Dynamics AX 2009 should, for example, print checks or
create a payment file.
NOTE: To learn more about all the tabs and fields on the Journal window,
review the Invoice Register lesson.
Payment Proposal
You must post payments made to vendors to ensure the Accounts Payable
subsidiary ledger matches the General Ledger.
The payment proposal function searches for payment lines that either
are due or have a maximum date for receiving a cash discount.
The system includes in the search only transactions with either a due date or a
cash discount date. As soon as the payment lines generate, edit them in the
payment journal.
9-28
9-29
Payment proposal lines that meet the criteria appear in the lower
Payment proposal pane.
When you select a payment proposal line, view the open invoice
transactions that contribute to the payment proposal line in the upper
Open transactions pane.
9-30
HINT: Select the Link check box to synchronize the two parts of the form. When
this option is selected the Open transactions pane only shows transactions
related to the current payment suggestion. When you move between paymet
suggestions, the system updates open transactions.
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9-33
9-34
Payment proposals
Settlements
HINT: Before checks print, ensure that the printer has the correct checks ready
to print.
NOTE: To void checks after they are printed, click Payment status and select
Reject.
CAUTION: As soon as checks are printed, the journal lines cannot be deleted
unless the checks are voided.
9-35
Value
Date
4/1/2008
Invoice number
1000
Amount
550 USD
Approver
Ezio Alboni
Value
Date
4/1/2008
Invoice number
1001
Amount
600 USD
Approver
Ezio Alboni
Value
Date
4/1/2008
Invoice number
1002
Amount
150 USD
Approver
Ezio Alboni
Challenge Yourself!
Help April with the following tasks:
1. Register the invoices.
2. Post the approvals for all three of these transactions in one journal.
9-36
After you complete the required steps, validate and post this journal.
Make the appropriate edits and validate the journal again.
Post the journal.
Generate the payment(s) for this invoice.
Print, validate, and post the payments.
Step by Step
Follow these steps to enter invoices in Accounts Payable.
Airfare Invoice
1. To register the invoice, use the Invoice Register. Click Accounts
payable, click Journals, click Invoices, and then click Invoice
register.
2. Press CTRL+N to create a new journal.
3. Click the Name arrow, and then click APInvReg.
4. Click the Lines button.
5. Enter 4/1/08 for the date.
6. In the Account field select 8005 - Margie's Travel.
7. In the Invoice field enter 1000.
8. In the Transaction text field enter Airfare for Convergence.
9. Enter $550 in the Credit field.
10. Click the Approved by arrow, and then click 2100 - Brooke Drynan.
11. Click the Validate button, and then click Validate.
12. In the Infolog click the Close button.
13. Click the Post button, and then click Post.
14. In the Infolog click the Close button.
15. Close the Journal voucher form.
Hotel Invoice
1.
2.
3.
4.
5.
6.
7.
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9-38
9-39
Invoice Matching
Accounts payable invoice matching is the process of matching the vendor
invoice, purchase order, and packing slip information. Vendor invoices
frequently are based on packing slips that represent actual shipments, instead of
on purchase orders. Sometimes the invoiced amounts do not match the purchase
order amounts, and sometimes the shipped quantities do not match the invoiced
quantities. To manage this information, Microsoft Dynamics AX enables you to
do the following things:
View and approve price match discrepancies between the invoice net
unit price and the purchase order net unit price. You can set up price
tolerance percentages for companies, vendors, and items. If the
vendor invoice line price is not within the acceptable price tolerance,
you can save the invoice until it is approved for posting, or until you
receive a correction from the vendor.
Scenario
Alicia, the Buyer at Contoso, enters a purchase order with one line item for 50
bulbs at a price of 2.00 U.S. dollars (USD) each. The purchase order is approved
and submitted to the vendor.
The vendor ships only 30 bulbs. Sammy, the Shipper, enters a packing slip for 30
bulbs.
9-40
5. In the Display price match icon field, select from the list to display
an icon:
o If line prices are greater than allowed tolerance
o If line prices are greater than or less than allowed tolerances
For example, if the tolerance is five percent and the purchase
order unit price is 10.00 U.S. dollars, a price match icon is
shown if the invoice unit price exceeds 10.50 U.S. dollars. If the
Display price match icon field is set to If line prices are
greater than or less than allowed tolerances, an icon displays
if the invoice unit price is less than 9.50 U.S. dollars.
NOTE: These fields are available only if the Invoice matching configuration
key is selected.
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9-42
Account code
Table
Table
Table
Group
Table
All
Group
Table
Group
Group
Group
All
All
Table
All
Group
All
All
9-43
Item
relation
All
9-44
Account
code
Account
relation
Price
tolerance
percentage
Notes
All
1%
This
percentage
applies to all
items and all
vendors,
unless one of
the other
scenarios
applies. This
is the
company
price
tolerance
percentage.
Table
Battery
All
1%
This
percentage
applies to the
Battery item
from all
vendors.
Group
Low
All
2%
This
percentage
applies to all
items whose
item value
model group
has the Low
item price
tolerance
group
assigned to
their item
value model
groups, and
all vendors.
Group
Medium
All
6%
Item
code
Item
relation
Account
code
Group
High
All
Account
relation
Price
tolerance
percentage
Notes
15%
All
Group
5 percent
5%
All
Group
10
percent
10%
This
percentage
applies to
vendors who
are assigned to
the 10
percent
group, and All
items.
9-45
Then
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Scenario
Phyllis, the Accounting Manager at Contoso, reviews and approves the Accounts
Payable transactions. Phyllis realizes that a consulting fee was paid twice and she
wants to reverse the settlement.
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Challenge Yourself!
Help April reverse the transaction and check history to ensure she reversed it
correctly.
Step by Step
1. Click Accounts payable, and then click Vendor Details.
2. Click Vendor account 5001.
3. Click the Functions button, and then click Closed transaction
editing.
4. Click the last line in the form.
5. Select the Marked check box.
6. Click the Reverse button.
7. Click the Inquiry button, and then click History to view the
reversed transactions.
9-50
Print Management
You can define print management original records, copy records, and conditional
settings at the module, account, or transaction level. You can control various
activities that include the following:
Print destination
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Scenario
Alicia, the Purchasing Agent at Contoso, is entering a purchase order for a new
vendor. Because this is her first time buying from the vendor, the terms are cash
on delivery. She must enter the order with the vendor's payment terms so that she
receives the material on time.
To speed up establishing an open account with the vendor, Alicia sets up a
document copy for the purchase order. She enters New Vendor - need credit
established as the footer and sets the print destination to the printer that belongs
to Connie, the Credit and Collections Manager. She also enters a note that will
print on Connie's copy explaining how much business they plan on doing with
the vendor. This information will help Connie determine how much credit to
request from the vendor.
Alicia posts and prints the purchase order which prints a copy to Connie's printer.
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9-54
Document
Path
Purchase order
Purchase order invoice
Purchase order packing slip
Purchase order receipts list
Document
Path
1. In the left pane of the Print management setup form, expand the
list of documents. Any original or copy records display.
2. Review the original or copy record information. If changes are
necessary, override or copy an inherited record, or create a new
record or a new conditional setting.
o To override, right-click an original or copy record and select
Override. The icon changes to display a red X to indicate that
the record is now an override record.
o To copy, right-click an original or copy record and select Copy.
A copy displays in the list. The copy must have a new name.
o To create a new original or copy record, right-click a document
in the list and select New. A new record displays in the list.
o To create a new conditional setting, right-click an original or
copy record in the list and select New. A new conditional setting
displays in the list. The conditional setting must have a
description, and you must select query information.
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Summary
Microsoft Dynamics AX 2009 offers several important features for managing
Accounts Payable. For example:
Payment proposals.
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2.
3.
9-59
Solutions
Invoice Approval Journal
Test Your Knowledge
After you post the lines of the invoice register, the postings display in the
payment proposal.
( ) True
() False
Invoice Journal
Test Your Knowledge
You must validate the journal before you post.
( ) True
() False
Voucher Template
Test Your Knowledge
Which voucher template type lets users re-create a voucher for the same accounts
and values as the original entry?
( ) Percent
( ) Division
( ) Aggregate
() Amount
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9-62
Introduction
There are different Accounts Receivable setup options in Microsoft Dynamics
AX 2009. This course introduces the setup procedures and defaults you can use
throughout the Accounts Receivable module.
Microsoft Dynamics AX 2009 offers extensive functionality to set up different
customer payment options. This includes the following:
Payment schedules
Payment days
Terms of payment
Cash discounts
Methods of payment
Payment fees
This course also explains Customer setup so you can process customers and
customer transactions quickly and efficiently.
10-1
Payment Schedule
Use payment schedules to pay invoices in installments. To set up a payment
schedule, define the following:
Number of installments
Set amount
For example, an invoice of 10,000 USD is recorded. The customer pays 2,000
USD each month until the balance is paid. During this period the invoice is not
considered past due as long as the customer makes the scheduled payments on
time. This is known as a finance plan, or contract payments.
10-2
10-3
10-4
Terms of Payment
Use the Terms of payment form to define all the terms of payment that a
company and its customers use. You can also use a term of payment to calculate
the due date based on the date of the invoice.
Specify terms of payment for each:
10-5
10-6
10-7
Payment Days
Use payment days to define the payment day to use for calculating the due date.
The due date always is rounded up to the nearest specified date automatically.
You can specify the payment day for:
10-8
10-9
Challenge Yourself!
Help Connie create a new term of payment to fulfill this requirement and assign
it to Cave Wholesales.
Step by Step
Follow these steps to create a new term of payment.
1. Click Accounts receivable, click Setup, click Payment, and then
click Terms of payment.
2. Click the New button or press CTRL+N.
3. In the Terms of Payment ID field, enter N018.
4. In the Description field, enter Net 18 days.
5. On the Setup tab, in the Payment Method field, select Net.
6. In the Days field, type 18.
7. Close the window.
Follow these steps to assign a new term of payment to Desk World.
1.
2.
3.
4.
10-10
Cash Discount
Cash discounts are:
Posted to the ledger account specified for the cash discount when an
invoice is settled in time to obtain a cash discount.
Scenario
Contoso's customers receive a cash discount if they pay invoices due within
certain dates. Contoso has set up the following codes:
The three cash discounts follow one another as the payment nears the cash
discount date. However, only one cash discount is granted.
To specify this on the 5D10% code, the 10D5% code is selected in the Next
discount code list. On the 10D5% code, the 14D2% code is selected in the Next
discount code list. Finally, on the 14D2% code the Next discount code is left
blank.
10-11
10-12
10-13
Payment Fee
Use payment fees to:
Scenario
Contoso defined guidelines on how to handle late payments:
Contoso assesses most invoices late payment fees 30 days after the
invoice date.
10-14
10-15
10-16
10-17
Methods of Payment
Many companies offer several methods to pay due invoices, such as the
following:
Credit
Cash in advance
Bill of exchange
In the Methods of payment form, specify all the methods of payment the
company uses to receive pay from its customers. For each method of payment,
enter information that states how payments should be summarized and posted.
Methods of payment can be assigned to:
Customers
Journals
Sales orders
10-18
10-19
Action
Export format
Import format
Return format
Remittance format
NOTE: If the format list is empty, click the Setup button and select from the
available formats.
10-20
10-21
Value
Period
Total
Days of grace
Payment status
None
Account type
Bank
Payment account
EUR OPER
02
Challenge Yourself!
Set up a new method of payment for European cash payments with a two-day
grace period.
Step by Step
1. Click Accounts receivable, click Setup, click Payments, and then
click Methods of payment.
2. Press CTRL+N to create a new method of payment.
3. In the Method of payment field, type in CASH_EUR.
4. Click the Period arrow, and then click Total.
5. In the Description field, type Cash - Euro.
6. In the Days of grace field, type 2.
7. Click the Payment status field, and then click None.
8. Click the Account type arrow, and then click Bank.
9. Click the Payment account arrow, and then click EUR OPER.
10. Click the Bank transaction type arrow, and then click 02.
10-22
Customer Groups
Using customer groups:
Scenario
Contoso has many customers to track. To simplify the handling of customers, the
Contoso Company set up several customer groups to:
Specify ledger posting per customer group. For each customer group,
you can specify accounts, that is, for customer debts, an arrival
account for a customer who has a corresponding offset account, a
receipt account, item revenue account and account for customer line
discounts.
10-23
10-24
Based on the type of business being run, decide which accounts must be set up.
The focus of finance is related to consumption and revenue accounts, and the
focus in logistics is the issue, receipt, and packing slip accounts.
10-25
Item
relation
Account
code
All
All
All
Group
Table
B-R14
Account
relation
Account
number
401100
40
All
401120
401130
If you have set up the posting as illustrated in the following table, and you set the
Primary sales posting list to Customer, and some of item type B-R14 is sold to
customer 4000, the transaction is posted to account number 401100 because of
the Accounts Receivable parameter setup.
Item code
Item
relation
All
Table
B-R14
Account
code
Account
relation
Account
number
Table
4000
401100
All
401130
10-26
Challenge Yourself!
Create the new customer group with the correct setup options.
Step by Step
Create the new Customer Group 60, Travel Agencies.
1. Click Accounts receivable, click Setup, and then click Customer
groups.
2. Press CTRL+N to create a new group.
3. In the Customer group field, type 60.
4. In the Description field, type Travel Agencies.
5. Click the Terms of payment arrow, and then click M15.
6. Click the Settle period arrow, and then click N014.
For the new group, define automatic posting.
1. From the Customer groups form, click the Setup button, and then
click Inventory posting.
2. Verify that inventory posting has been set for the All Item code
and All Account code to Account number 142300.
10-27
All customers
Groups of customers
Single customers
When you post a customer transaction automatically, the system searches for the
ledger accounts that are shown in the previous order. For example if:
no posting profile line exists for the customer, the line specified for
the customer group that the customer is attached to is used.
neither of these exists, the posting profile line for all customers is
used.
In the Customer posting profiles form, you can set up many customer posting
profiles. If all customer transactions are processed together, set up only one
posting profile for all customers.
10-28
10-29
10-30
Value
Posting Profile
Prom
Description
Promotion
Account Code
Group
High
Challenge Yourself!
Help Arnie create the new customer posting profile.
Step by Step
1. Click Accounts receivable, click Setup, and then click Posting
profiles.
2. Click the New button or press CTRL+N.
3. On the Overview tab, in the Posting Profile field, type Prom.
4. In the Description field, type Promotion.
5. On the Table restrictions tab, make sure that the following check
boxes are selected:
o Settlement
o Interest
o Collection letter
10-31
10-32
Invoicing
Payments
Reports
The base data automatically is displayed as the default for all transactions that
involve the customer.
You can change default information at any time.
10-33
NOTE: You can create and maintain currency codes and exchange rates in the
Exchange rates form. You can change the customer's invoice currency in the
invoice header before you enter sales order lines.
10-34
NOTE: Configure the system to check whether an account is over its credit limit
on the Credit rating tab of the Accounts receivable parameters form.
6. Depending upon the selection in the Address book type field on the
Overview tab, in the Government identification area you may
enter values in the ID number, License number,
Country/region, or State fields. These government-established
data values are commonly used to protect companies against
financial loss due to delinquent accounts.
NOTE: Configure the system to require identification on the Credit rating tab of
the Accounts receivable parameters form.
7. Block a customer account manually in the Stopped list, by
selecting one of the following:
o No - No blocking. All forms of transaction are possible.
o Invoice - The account is blocked for everything before
Invoice. Money can still be received, and an invoice can be
sent on goods delivered before the blocking.
o All - All transactions are blocked.
10-35
NOTE: If you are using one-time customers, you must set up a number sequence
in the Accounts receivable parameters form on the Number sequence tab. On
the General tab in the Accounts receivable parameters form, select a customer's
account number that can serve as the default template for one-time customers.
Information is copied automatically when you create a one-time supplier in the
Customers form.
Microsoft Dynamics AX 2009 automatically creates a one-time customer when
you create a sales order for a one-time customer. Except for the customer
number, the one-time customer inherits all base information from the customer
number specified in this field. You must specify the one-time customer number
sequence in the Number sequences form. If you do not use a one-time customer,
leave the Default customer number blank.
9. Select a statistical group in the Statistics group list to make
reports and statistics about this customer.
10. Specify the frequency of when you send the customer an account
statement by using the Account statement list. Select from the
following options:
o Always - Monthly
o Quarter - Every three months
o Biannually - Every six months
o Annually - One Time per year
o Never - Not printed
11. Select a vendor account number in the Vendor account list if the
customer is also a vendor. Use the vendor account for
reimbursement. If a customer has a credit amount because of
overpayment or a credit note, you can transfer the amount to the
vendor account.
10-36
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10-38
Value
Customer group
Retail
Credit limit
10,000 USD
Mode of delivery
Air
Illinois
Terms of payment
Net 30 days
Method of payment
CHCK
Challenge Yourself!
Create a new customer.
Step by Step
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
10-39
Summary
Payment options in Microsoft Dynamics AX 2009 are flexible to accommodate
different business processes. You can:
Set up terms of payment for cash payment so that the payment posts
automatically when you issue the invoice
10-40
10-41
2.
3.
10-42
Solutions
Payment Schedule
Test Your Knowledge
To set up a payment schedule, define the following. (Select all that apply.)
( ) Number of schedules
() Number of installments
() Amount of each installment
() Due date of each installment
Terms of Payment
Test Your Knowledge
Which of the following can be selected in the Payment method list to calculate
the due date? (Select all that apply.)
() Net
() Curr. Week
() Curr. Year
() C.O.D.
Cash Discount
Test Your Knowledge
Customers earn cash discounts by paying an invoice within a specified period.
() True
( ) False
10-43
Customer Groups
Test Your Knowledge
How many customer groups must you create in Microsoft Dynamics AX 2009?
() At least one
( ) At least two
( ) At least three
( ) At least four
10-44
Reverse a Settlement
Reimburse a Customer
List the activities that you can control with print management
settings
Introduction
This course discusses the free text invoice and the payment journal. The course
also explains various Accounts Receivable transactions that you may use in daily
procedures in the Accounts Receivable module of Microsoft Dynamics AX
2009.
11-1
Ledger accounts
Free-text descriptions
You cannot enter an item number on this kind of invoice; however, you can enter
the appropriate sales tax information.
NOTE: After you post a free-text invoice, the program automatically saves a
copy; however, you can no longer make changes to it.
On an ordinary invoice:
o
o
The user specifies the item number, and the system posts the
item-related transactions in the ledger.
A sales order makes inventory transactions, but a free text
invoice never uses item inventory because a free text invoice
does not create stock transactions. Users frequently use free text
invoices to sell fixed assets because the free text invoices
calculate the costs or income when you depreciate and sell the
asset. Refer to the Fixed Assets training manuals to learn more
about the fixed asset topic.
11-2
1. Configure the following setup before you issue a free text invoice.
Click Accounts receivable, click Setup, then click Parameters on
the Number sequences tab, and set up the free text invoice number
sequence for these references:
o Free text invoice
o Free text credit note
o Free text invoice voucher
o Free text invoice credit note voucher
2. Open the Free text invoice form by clicking Accounts receivable
and then clicking Free text invoice details.
11-3
11-4
11-5
11-6
To open these form notes, click Accounts receivable, then click Setup, click
Forms, and finally click Form notes.
Use print management functionality for Free text invoices on the Free text
invoice form, by clicking the Setup button, and then clicking Print
management.
11-7
Forest Wholesales
(1101)
Invoice Account
Forest Wholesales
(1101)
Date
System date
Enter the line for the invoice. Use the following information to create line
information:
Description
Invoice for
Consulting Design
Ledger Account
401190
Sales Tax
Amount
$1450.00
Challenge Yourself!
Use any of the methods described in this section to create and post the free text
invoice.
11-8
11-9
Payment Journals
After you register, approve, and post the invoice, the customer must pay for the
invoice. When you receive a customer payment, use the payment journal to
register it.
For information on the Centralized payments functionality, please refer to the
Financials II in Microsoft Dynamics AX 2009 collection.
You can use payment journals to:
o
o
Payment Proposal
When customers make payments, you must create and post them in a payment
journal, both to record the payments to the customer's accounts, and also to
ensure that you can reconcile the Accounts Receivable information with General
Ledger information. Use a payment proposal as an effective way to select the
payment records and create the payment journal. The payment proposal:
Searches for payment lines that either are due or have a maximum
date for receiving a cash discount.
Only transactions with either a due date or a cash discount date are included in
the search. As soon as the system generates payment lines, you can edit them in
the payment journal.
11-10
11-11
11-12
HINT: Select the Link check box to synchronize the two parts of the form. When
selected, the Open transactions pane shows only transactions related to the
selected Payment proposal pane line. The open transactions displayed are
updated when they move between Payment proposal pane lines.
NOTE: You can use workflow with payment journals. Some buttons in the form
are unavailable when a journal has been submitted for workflow journal
approval.
11-13
4. Select the Mark check box to select the invoices to transfer to the
Customer payment proposal form. Mark one or several invoices
for settlement.
NOTE: A red mark shows in the Is marked field if a transaction already is
marked for settlement.
NOTE: You must enter a Customer account and Currency to use the
Settlements option.
11-14
NOTE: Some journals are more limited, such as the Invoice register form, and
not all fields listed in the example are available.
Description
Date
Company accounts
11-15
Field name
Description
Account
Invoice
Transaction text
Debit
Credit
Offset account
11-16
11-17
Open invoice
Credit note
Collection letter
You also may view customer transaction records across multiple companies and
define other aspects of the payment line, such as Method of payment, Offset
account type, etc.
11-18
HINT: To view the details of the selected customer transaction, click the Show
document button.
11-19
11-20
Account
Sunflower Shopping
Mall
Credit
2,499.00
Offset Account
110180
Challenge Yourself!
1. Create a payment journal.
2. Use open transaction editing to apply this payment to the correct
invoice.
Step by Step
Follow these steps to create a payment journal and use open transaction editing to
apply this payment to the correct invoice.
Create the Payment journal:
1. Click Accounts receivable, then click Journals, click Payments,
and then click Payment journals.
2. Press CTRL+N to create a new journal.
3. Select ARPay in the Name field.
11-21
11-22
Then
11-23
11-24
11-25
8.
9.
10.
11.
12.
13.
NOTE: Alternatively, you can reorganize the due dates by using a payment
schedule. Click the Payment schedule button, select a payment schedule and a
starting point, and click OK. The Payment schedule configuration key must be
selected to reorganize transactions according to a payment schedule.
11-26
11-27
Challenge Yourself!
1. Create the Free Text Invoice. Use ledger account 401200.
2. Record the payment and apply the payment to the correct invoice by
using Open transaction editing.
Step by Step
Create the invoice:
1. From the Navigation pane, click Accounts receivable, then click
Free text invoice details.
2. Press CTRL+N to create a new invoice.
3. In the Customer account field, type 1301.
4. Click the Invoice lines tab.
5. In the Description field, type Design consultancy.
6. Click the Account arrow, and then click 401200.
11-28
11-29
11-30
Reverse Settlements
When you work with reverse settlements:
11-31
11-32
Challenge Yourself!
Use the Closed transactions editing function to reverse this settlement.
Step by Step
1. From the Navigation pane, click Accounts receivable, then click
Customer details.
2. Click customer account 1301.
3. Click the Functions button, then click Closed transaction editing.
4. Click the transaction line that recorded a payment for 108.90.
5. Select the Mark check box.
6. Click the Reverse button.
7. Close all the forms.
11-33
Reimburse a Customer
When you work with the reimbursement feature:
11-34
11-35
Challenge Yourself!
Create the invoice for Whale Wholesales, post the payment, and generate the
reimbursement for the overpayment.
Step by Step
Set the Minimum reimbursement value:
1. From the Navigation pane, click Accounts receivable, click Setup,
and then click Parameters.
2. In the Minimum reimbursement field, type 5.00.
3. Close the form.
Create the Free text invoice:
1. Click Accounts receivable, then click Free text invoice details.
2. Press CTRL+N to create a new invoice.
11-36
11-37
Reason Codes
Reason codes are standardized codes that you can use in various transaction types
or changes to field values to provide background data about the transaction. For
example, auditors or managers frequently want to see reasons recorded for
various transactions. Using standard reason codes instead of transaction text
gives users guidelines on what codes to select from, and provides management
and auditors with the ability to analyze transaction history by specific reason.
Reason codes can be used with:
Fixed assets
General ledger
Accounts payable
Accounts receivable
Bank
Reason Comments
Enter a reason comment in the same forms where you select reason codes.
Reason comments are optional, and although you can set up default reason
comments for each reason code, no setup is required.
11-38
Customer transactions
Voucher transactions
Print Management - AR
Print management works with Accounts Receivable and Accounts Payable. You
can define print management original records, copy records, and conditional
settings at the module, account, or transaction level, so that you can control
various activities that include the following:
Print destination
11-39
Scenario
Simon, the System Implementer, has collected information about the printing of
sales invoices. Contoso uses the same invoice for all types of customer orders.
Therefore, Simon specifies that the setup applies not only to the Sales order
invoice, but also to the free text invoice and project invoice.
11-40
Numeric File for the fifth copy, which is filed in a numeric invoice
file
For each copy, Simon specifies the intended audience so that each document
prints in the appropriate language. For the Customer and Remittance Copy,
Simon enters the footer text for multiple languages so that all the text on the
invoice prints with the language appropriate to the customer.
Arnie in Accounts Receivable prints all the copies; thus, Simon specifies that
copies 1, 3, 4, and 5 must print to Arnie's printer. He sets up copy 2 to print to the
Archive.
Simon finishes setting up all the documents for Contoso and then begins setting
up Contoso Europe. For this company, the customer invoice documents are
unique. Simon sets up the footer text, printing order, sort order, and printer
destination for each document.
Simon sets up the Sales order Packing Slip document next. Because Contoso
Europe has several warehouses, he must set up copies for each warehouse. For
Warehouse A1, he specifies three copies, footer text, printing order, sort order,
and printer destination. For Warehouse A2, he specifies four copies, footer text,
order in which the copies print, sort order, and printer destination. The
appropriate document and copies print automatically based on the warehouse
location for each Sales order line.
When Simon finishes setting up the documents for all the companies, he sends an
e-mail to the implementation team stating that the setup is complete and
requesting that each member verify the document setup for his or her particular
department.
Prakash, the Project Manager at Contoso, receives Simon's e-mail and verifies
the print setup. He reviews the setup for all the documents and is satisfied that
Simon set them up correctly.
11-41
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11-43
Documents
Path
Accounts receivable
Accounts receivable
Quotation
Accounts receivable
Sales order
confirmation
Sales order invoice
Sales order packing
slip
Sales order picking
list
1. In the left pane of the Print management setup form, expand the
list of documents. Any original or copy records display.
2. Review the original or copy record information. If changes are
necessary, override an inherited record, copy an inherited record,
create a new record, or create a new conditional setting.
o To override, right-click an original or copy record and select
Override. The icon changes to display a red X to indicate that
the record is now an override record.
o To copy, right-click an original or copy record and select Copy.
A copy displays in the list. The copy must have a new name.
11-44
Customer 1102
Original
Customer copy
Customer copy 2 (because the
customer account falls within
the query results for the setting)
Warehouse copy
Customer 1104
Original
Customer copy
Warehouse copy
11-45
NOTE: Although conditional settings and queries provide flexibility in the print
management settings, complex queries or numerous conditional settings can
affect posting performance.
11-46
Summary
For efficient management of Accounts Receivable, Microsoft Dynamics AX
2009 offers many advanced options, including:
You can give each customer a unique credit limit. Apply the credit limits to only
customer balances or to include uninvoiced, delivered items, or even sales orders.
Decide whether the credit limit applies on the total of the sales order or if you
need to control each sales order line separately. You can set up the system to stop
delivery when you reach the credit limit or set up an automatic warning that you
can overrule. You also can stop the customer account automatically at any step
during the collection procedure.
Microsoft Dynamics AX 2009 offers extensive options for editing open
transactions, reopening closed transactions, and entering renegotiated payment
schedules directly into the system. You can view the customer invoice and print a
copy of it directly from the customer account.
11-47
2.
3.
11-48
Solutions
Free Text Invoice - Description and Usage
Test Your Knowledge
You can create inventory transactions that use item numbers by using Free text
invoices.
( ) True
() False
An ordinary invoice consists of _____. (Select all that apply.)
( ) The companys bank accounts
( ) A ledger account for the sale is indicated on each order line, and the
customer balance is posted for each customer group, unless specified
otherwise
() A sales order that makes the inventory transactions
() The item number that specifies and posts in the ledger
Payment Journals
Test Your Knowledge
When the invoice is registered and approved, the customer must pay for the
invoice.
( ) True
() False
What does the payment proposal function do? (Select all that apply.)
() Searches for due payment lines
( ) Searches for vendors
() Searches for payment lines that have a maximum date for receiving a
cash discount
() Checks open and approved customer transactions
11-49
Reverse Settlements
Test Your Knowledge
You can reverse a settlement if the bank does not honor a payment.
() True
( ) False
11-50
11-51
11-52
Create checks
Delete checks
Void checks
Introduction
Within the Bank Management module, users manage the financial transactions
between the company and its bank accounts. These transactions include the
following:
12-1
Scenario
At Contoso Annie is the Bookkeeper and she manages the creation, deletion, and
voiding of checks and electronic payments. Annie creates check refunds for
customers when required and processes payments to vendors. Also, when
Contoso receives a bank statement, Annie reconciles the statement with the
transactions in the application.
Create Checks
In Microsoft Dynamics AX 2009, the Check form provides access both to view
existing check transactions and to create new checks. Access the Check form in
one of two ways:
Through the Bank accounts form. Users must select a bank account
from the list and then click the Checks button. The application only
displays the checks for the selected bank account.
12-2
NOTE: As soon as created checks are available, checks generate through the
Accounts Payable payment journal. Generate a check on a bank account by
selecting the Account type of Vendor and the Offset account type of Bank.
Generate a check on a ledger account by selecting the Account type of Vendor
and the Offset account type of Ledger.
12-3
Delete a Check
After users create a check in Microsoft Dynamics AX 2009, they can delete the
check as long as it has not been used. Checks that you create but do not use have
the status of Created in the Status field.
NOTE: If you include checks that have a status other than Created in the
interval between the From and To fields, no checks are deleted and the Delete
checks job is canceled.
12-4
12-5
Challenge Yourself!
Help Annie to create checks, and then delete the unnecessary checks.
Create 15 checks for the EUR OPER bank account, starting with
check number 101.
Step by Step
Create 15 checks for the EUR OPER bank account, starting with check number
101.
1.
2.
3.
4.
5.
6.
7.
8.
12-6
Deposit Slips
A deposit slip is a document that you can use to deposit checks, credit card notes,
and cash into a bank account. Use the Deposit slip form to view and manage
deposit slips for payments into bank accounts.
Access deposit slips in the following ways:
Click Bank, Bank Account Details, select a Bank account, click the
Inquiry button, and then click Deposit slip to view only the deposit
slips for the selected bank account.
Click Bank, and then click Deposit slip to view all deposit slips,
organized by bank account.
12-7
12-8
12-9
12-10
Challenge Yourself!
Help Annie complete the following:
Select the Use a deposit slip check box in the Customer payment
journal.
Click the Cancel payment button from the Deposit slip form to
cancel the deposit slip.
Step by Step
Create a customer payment journal:
1. Click Accounts receivable, click Journals, click Payments, and
then click Payment journal.
2. Press CTRL+N to create a new record.
3. Select ARPay in the Name list.
4. Click the Lines button.
5. In the Account field, select customer account 2022.
6. In the Credit field, type 1000.
7. Select the Use a deposit slip check box.
8. Make sure that the Offset account field contains USA OPER.
9. Make sure that the Currency field contains USD.
10. In the Payment reference field, type 1987.
11. Click the Post button, and then click Post.
12. Click the Close button in the Infolog.
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Challenge Yourself!
Help April complete the following steps:
1. Create a payment journal and generate a check payment. Do not post
the payment.
2. Use the Payment Status button to void the checks.
3. View the checks for the Bank of USA Operating Account to verify
the check numbers is voided.
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Refund Checks
Under certain circumstances, companies must generate payment refunds to their
customers or process refunds they received from their vendors. This usually
occurs when credit notes, overpayments, and bonuses are involved in third-party
transactions.
In Microsoft Dynamics AX 2009 users can create a check refund that prints out a
check. The refunding feature is implemented in payment journals for customers.
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Challenge Yourself!
Help Annie create a refund check to pay Triangle Headquarters the overpayment
amount of 396 USD.
Step by Step
1. To access the customer payment journal click Accounts receivable,
click Journals, click Payments, and then click Payment journal.
2. Press CTRL+N to create a new record.
3. In the Name field, select ARPay.
4. Click the Lines button to access the Journal voucher form.
5. From the Journal voucher form, in the Account field, select 2022,
Triangle Headquarters.
6. In the Credit field, type -396.
7. Verify that Bank is selected in the Offset account type field and
USA OPER display in the Offset account field.
8. From the Method of payment list, select Refund.
9. Click the Functions button, and then click Generate payments.
10. In the Method of payment field, verify that Refund is selected.
11. In the Bank account field, verify that USA OPER is selected
12. Click OK to generate the check.
13. Click the Post button, and then click Post again.
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Bank Remittance
Use the Remittance form to view the remittances that are made to company bank
accounts.
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Payment Reversal
Occasionally, you must reverse a check after you have made a payment and
posted the check. For example, the delivery company may have the check or a
member of the accounting staff may notice that an employee paid the check in
error. Microsoft Dynamics AX 2009 provides a function to reverse posted check
payments.
NOTE: To reverse a check after it is posted, the check must have the status of
Paid.
5. Click the Payment reversal button.
6. In the Payment reversal form, enter the date.
7. Select a reason for the reversal from the Reason code list.
NOTE: A Reason code may be required, if the Require reasons for payment
reversals check box is selected on the General tab of the Bank parameters
form.
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NOTE: You cannot change the amount of the transaction during reconciliation.
To edit the amount of a transaction during reconciliation, enter the corrected
amount in the Correction Amount field. Ensure that you enter the correction in
the currency used for the account.
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Summary
This course covered the main procedures in the Bank Management module in
Microsoft Dynamics AX 2009. The application provides functionality to manage
check payments, as well as procedures for resolving special situations with
checks. Therefore, users can delete, refund, and void checks, in addition to
generating and issuing checks according to company specifications. In addition,
because the system records all financial transactions, companies can use the bank
reconciliation function to match internal company records of transactions against
bank statements.
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3.
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Solutions
Create Checks
Test Your Knowledge
Annie, the Bookkeeper at Contoso, must create checks numbered 2361 through
2366. What values must she enter in the From and Quantity fields to do this?
( ) Enter 2361 in the From field and 5 in the Quantity field
( ) Enter 2366 in the From field and 5 in the Quantity field
() Enter 2361 in the From field and 6 in the Quantity field
( ) Enter 2366 in the From field and 6 in the Quantity field
Delete a Check
Test Your Knowledge
What status must a check have for you to delete it?
( ) Void
( ) Processed
() Created
( ) Invoiced
Deposit Slips
Test Your Knowledge
How can you tell if a deposit slip is canceled?
MODEL ANSWER - On the Deposit slip form, on the General tab, the
Canceled check box is selected.
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NOTE: If clearing the Specification check box and selecting the Differences
only check box, the report presents lines with balance differences that includes
the transaction date, voucher number, tax balance, ledger balance, and the
balance difference.
If converting the company currency by running the job in the Company currency
conversion form, penny differences may occur and are ignored in this report.
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The vendor base data report prints a list of vendors and all their base data. To
print a more simple report that has vendor contact details click Accounts
payable, click Reports, click Base data, and then click Vendors.
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Invoice Specification
The Invoice specification report prints a detailed breakdown of each invoice in
the system. Use this report to print a list of all invoices with detailed information
such as what items or services are purchased.
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To print a vendor account statement report, select from the following options:
1. Click Accounts payable, click Reports, click Transactions, click
Vendor, and then click Account statement.
2. Select in the From date and To date field, the date for the balance at
the end of the period.
3. Specify in the Assessment date field, the date of assessment of open
transactions. If a date is not specified, assessment is made based on
the dates defined in the From date and To date fields.
4. Select Discount in the Details list, to show transactions with a cash
discount or select currency to show amounts in both registered
currency and domestic currency.
5. Select the Only open check box,if it is selected the account
statement only includes open transactions. If the Only open check
box is not selected, all transactions are included.
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Vendor Transactions
Use the Vendor transactions report to print all transactions for specific or all
vendors. For example, print a report to receive a list of invoiced vendor
transactions to view the amount in different currencies.
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Description
Only open
Include reversed
Exchange rates
History by Transaction
The History by transaction report documents the connection between the
vendor accounts and the ledger accounts. Use this report to check the postings set
up of vendors.
Select the Totals per ledger account only check box if only a total is relevant
per ledger account. The report then displays the total for all vendor transactions
of the selected ledger accounts within the selected period. The date, the voucher
number and the invoice number do not display.
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Vendor Aging
The Vendor aging report prints an aging report for vendor account balances. Use
this report to know when the open invoices are due.
Several different options can be selected when printing this report. Functionality
is described as follows:
Field
Description
Balance as on
Start date
Criteria
Aging buckets
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Field
Description
Interval
Day/Mth.
Printing direction
Details
Negative balance
Payment positioning
As soon as the options desired are selected, this shows an Aging breakdown of
Customer balances based on those options.
Accounts payable > Reports > Status > Vendor aging report
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Description
From date
To date
Criteria
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Invoices
Payments
Interest
Collection letters
Customer Balance
Use the Customer balance form to view the current balance for the selected
customer. It shows both the:
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The Customer base data report prints a list of customers and all their base data.
To print a more simple report that has customer contact details click Accounts
receivable, click Reports, click Base data, and then click Customer.
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Customer Aging
The Customer aging report shows a balance due per customer per given period.
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Field
Description
Balance as on
Start date
Criteria
Aging buckets
Field
Description
Interval
Day/Mth.
Printing direction
Details
Negative balance
Payment positioning
Accounts receivable > Reports > Status > Customer aging report
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Account
Revenue
Margin
Quantity
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Voucher
Date
Check number
Transaction history
Select from the buttons on the right of the window to view additional inquiries.
The options are:
Inquiry
Description
Voucher
Checks
Deposit Slips
Original Document
NOTE: The Bank Transactions form can also be accessed from Bank > Bank
accounts > View > Transactions.
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Current balance for the ledger accounts set up for control in Balance
control under Setup.
NOTE: The Balance Control inquiry window can also be accessed from
Bank > Bank accounts > Balance control.
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3.
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