This two-day course provides students with the tools to set up the financial management application area. The focus is on the key financial functions within the organization such as the Cash Management, the management of VAT, Journal development and transactions, the General Ledger, and Receivables and Payables Management.
Who Should Attend
This course is intended for a partner that sells and implements the finance module to customers. The typical partner has an ERP background and is strong in accounting principles.
Module 1: Finance Management Setup
This module explains the setup of the General Ledger and of the Accounting Periods.
- General Ledger Setup
- Accounting Periods
Module 2: Chart of Accounts
This module explains the importance and central nature of the general ledger and the chart of accounts in the operations of a business and how they function in Microsoft Dynamics NAV in particular.
- Chart of Accounts Overview
- G/L Account Card
- G/L Account Card Ribbon
Module 3: General Journals
This module explains the general journal entry and posting system.
- Creating and Posting Journal Entries
- Standard Journals
- Recurring Journals
- Processing Recurring Journals
Module 4: Cash Management – Receivables and Payables
This module explains the cash management of receivables and payables.
- Bank Account Overview
- Customer Overview
- Vendor Overview
- Cash Receipt Journal and Payment Journal Overview
- Suggest Vendor Payments
- Print and Post Payables Checks
- Voiding Checks
- Applying Payments
- Unapply Customer and Vendor Ledger Entries
- Reversal of Posted Journals
Module 5: Cash Management
This module focuses on bank reconciliations.
- Bank Reconciliation
- Complete a Bank Reconciliation
Module 6: Receivables and Payables Management
This module focuses on both receivables and payables
- Set Up Payment Discounts
- Lesson 2 to 3: Process Payment Discounts
- Lesson 4 to 8: Set Up and Process Payment Tolerances
- Lesson 9: Review the Posted Payment Discount Tolerance and the Payment Tolerance Entries
- Lesson 10: Review Customer and Vendor Statistics
Module 7: Receivables Management: Reminders and Finance Charge Memos
This module explains why, when, and how reminders and finance charge memos are used.
- Set Up and Assign Reminder Terms
- Set Up and Assign Number Series for Reminders and Issue Reminders
- Create and Issue Reminders
- Set Up and Assign Finance Charge Terms
- Set Up and Assign Number Series for Finance Charge Terms
- Create and Issue Finance Charge Memos
- Calculate Interest on Reminders
Module 8: VAT
This module explains VAT.
- VAT Calculation Types
- Display VAT Amounts in Sales and Purchase Documents
- Manually Adjust VAT Amounts in Sales and Purchase Documents and Journals
- Unrealized VAT
- VAT Statements
- VAT Settlement
Module 9: Prepayments
This module explains the purpose and setup of prepayments.
- Lessons 1 to 3: Setting Up Prepayments
- Lesson 4: Set Up Prepayment Percentages for Customers and Vendors
- Lesson 5: Set Up Prepayment Percentages for Customer-Item and Vendor-Item Combinations
- Lesson 6: Set Up Prepayments Verification
- Lesson 7: Prepayments Processing Flows
- Lesson 8: Prepayment Sales and Purchase Orders Overview
- Lesson 9: Process Prepayment Sales and Purchase Orders
- Lesson 10: Prepayment Sales and Purchase Invoices
- Lesson 11: Prepayment Purchase Order Process
Module 10: Year End Closing Procedures
This module explains the closing process.
- Lessons 1 to 3: Closing a Fiscal Year
Lab: Accounting Periods
Lab: Create a Revenue Account
Lab: Assign a Dimension to Multiple Accounts
Lab: Create a Journal Entry
Lab: Create and Post a Recurring Journal
Lab: Create a Bank Account
Lab: Apply and Post Cash Receipts
Lab: Enter and Post Manual Checks
Lab: Suggest Vendor Payments for a Single Vendor
Lab: Financially Void a CheckLab: Void a Check
Lab: Unapply Posted Ledger Entries
Lab: Post a Customer Payment with a Discount
Lab: Apply Posted Partial Customer Payments with Discounts
Lab: Set Up a Payment Tolerance
Lab: Process a Customer Payment Tolerance
Lab: Adjust the Vendor Payment Discount Amount
Lab: Set Up and Assign a Reminder Term
Lab: Create and Issue Reminders
Lab: Set Up and Assign a Finance Charge Term
Lab: Create and Issue Finance Charge Memos
Lab: Adjust a VAT Amount in a Sales Document
Lab: Adjust a VAT Amount in a Purchase Journal
Lab: Set Up Prepayments for Sales
Lab: Prepayment Sales Order Process with Payment Discount
Lab: Prepayment Sales Order Process with Unrealized VAT
Lab: Post an Entry into a Closed Fiscal Year
What You'll Learn
After completing this course, students will be able to:
- Explain and set up the fields on the General Ledger Setup window.
- Explain and set up Accounting Periods.
- Explain how to use the Chart of Accounts.
- Explain the elements of the G/L Account Card.
- Explain the elements of the G/L Account Card ribbon.
- Explain the elements of the Chart of Account ribbon.
- Explain the general journal entry and posting system.
- Create and post general journal entries.
- Describe standard general journals.
- Describe recurring general journals and include the fields and allocations.
- Show how to use recurring journals with allocations and how to record accruals.
- Explain how to reverse and correct journal entries.
- Describe the Bank Account Card.
- Explain the Payments FastTab on the customer card.
- Explain the Payments FastTab on the vendor card.
- Show how to enter and post payments received from customers, by using cash receipt journals.
- Show how to enter and post payments to vendors by using the payment journal.
- Explain the Suggest Vendor Payments batch job.
- Explain how to print and post payables checks.
- Explain and show how to financially void a check.
- Explain how to void and reprint computer checks.
- Explain how to apply entries to customer and vendor ledger entries.
- Explain how to unapply entries to customer and vendor ledger entries.
- Explain how to reverse customer ledger entries posted by using journals.
- Review the Bank Account Reconciliation window and the options for populating the bank reconciliation lines.
- Show how to process a bank reconciliation.
- Set up Microsoft Dynamics NAV 2013 to use payment discounts.
- Process transactions for various situations that benefit from payment discounts.
- Set up Microsoft Dynamics NAV 2013 to use a payment discount tolerance.
- Process transactions for various situations that benefit from using a payment discount tolerance.
- Set up Microsoft Dynamics NAV 2013 to use a payment tolerance.
- Process transactions for various situations that benefit from using a payment tolerance.
- Review how a payment discount tolerance and a payment tolerance are reflected in the detailed customer and vendor ledger entries.
- Explain why and when Reminders and Finance Charge Memos are used.
- Set up Microsoft Dynamics NAV 2013 to use reminders.
- Explain how to create and issue reminders.
- Set up Microsoft Dynamics NAV 2013 to use finance charge memos.
- Explain how to create and issue finance charge memos.
- Explain the different VAT calculation types.
- Show how to reverse a VAT charge.
- Describe how to correct a posted VAT entry.
- Show how to record Import VAT.
- Explain the Prices Including VAT fields on sales and purchase documents.
- Explain how to adjust calculated VAT amounts in sales and purchase documents and journals.
- Describe unrealized VAT.
- Explain, create, and print a VAT Statement.
- Explain and run the Calc. and Post VAT Settlement batch job.
- Explain the requirements for setting up prepayments.
- Set up and assign prepayment General Ledger accounts.
- Set up prepayment numbering for sales and purchases.
- Set up default prepayment percentages on customers and vendors.
- Set up default prepayment percentages for Customer-Item and Vendor-Item combinations.
- Set up prepayment posting verification for sales and purchases.
- Explain the prepayment processing flows for sales and purchase orders.
- Describe the prepayment-specific fields on sales and purchase orders.
- Create sales and purchase orders with prepayment percentages and amounts.
- Create prepayment invoices that are from sales and purchase orders.
- Explain the processes available to correct posted prepayment invoices.
- Close the accounting periods for the fiscal year.
- Explain and run the Close Income Statement batch job process.
- Complete the closing process by posting the general journal.