Financials II in Microsoft Dynamics AX

Course details

This course explores topics such as the setup and usage of budgeting, cash flow management, multicurrency, intercompany, and consolidated accounting. Additionally, students learn about the multiple advanced payment options, how to produce customer account statements, collection letters, complete year-end close functionality, and produce financial statements. This course is an extension of the Financials I course.

Objectives

After completing this course, students will be able to:

• Set up Basic Budgeting and configure Budget Controls.
• Enter Budget Data.
• Define an Encumbrance and complete year-end Commitments.
• Set up Cash Flow Forecasting and create and calculate Cash Flow transactions.
• Set up and run Foreign Currency Revaluation.
• Set up and process Advanced Payments.
• Set up Intercompany Accounting and post and trace Intercompany transactions.
• Set up Consolidation and Subsidiary Companies.
• Print Customer Statements, process Collection Letters, set up Interest Codes and calculate Interest.
• Define Workflows and create financial module Approvals.
• Complete Year-End steps and procedures.
• Create and print Financial Statements.

Prerequisites

Module

• Module 1: BudgetingThis module discusses the concepts of budgeting, how to set up basic budgeting and budget controls including budgeting rules and attributes.
• Module 2: Use and Manage BudgetsThis module examines how to view the status and history of a budget. The process for using budget control on source documents and accounting journals is also discussed.
• Module 3: Commitment AccountingThis module discusses the process of defining an encumbrance and creating a purchase order encumbrance. It also discusses the entry and analysis of an encumbrance transaction and the processing of year-end commitments.
• Module 4: Cash Flow ManagementThis module discusses the relationship of cash flows to modules in Microsoft Dynamics AX.  It discusses how to set up cash flow forecasting and define a cash flow forecast budget model. It also demonstrates how to create and calculate cash flow transactions.
• Module 5: MulticurrencyThis module discusses the setup required for foreign currency revaluation. It also discusses how to run revaluation in different modules in Microsoft Dynamics AX.
• Module 6: Advanced PaymentsThis module describes the processing and setup of advanced customer and vendor payments in Microsoft Dynamics AX including bridging accounts, electronic payments, centralized payments, bills of exchange and prepayments.
• Module 7: Intercompany AccountingThis module introduces the concepts of intercompany accounting. Topics discussed in this course include the review and posting of intercompany transactions, the setup of for intercompany accounting, and how to trace an intercompany transaction.
• Module 8: ConsolidationsThis module discusses the capabilities of Microsoft Dynamics AX to consolidate subsidiary companies into a single consolidated company. Topics that are covered include how to set up a subsidiary company, setup of a consolidated company and how to perform a consolidation.
• Module 9: Collections ManagementThis module describes how to set up and process customer statements, collection letters and interest notes to help in the collection process.
• Module 10: Financial WorkflowsThis module describes how to set up one or more workflow configurations, select a configuration and activate workflow.
• Module 11: Year-End CloseThis module discusses the year-end processes necessary in Microsoft Dynamics AX. Topics covered in this course include creating a new fiscal year, how to hold or close a period, create a closing sheet and setting up fiscal year parameters.
• Module 12: Financial StatementsThis module discusses the steps and processes to create a financial statement in Microsoft Dynamics AX. Topics covered include creating row and column definitions, creating and printing financial statements, and creating and printing dimension statements.