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Ax 2009 Financial 1
Ax 2009 Financial 1
Ax 2009 Financial 1
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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.
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1.
2.
3.
Introduction
A general ledger is a formal ledger that contains a company’s 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.
Use the Exchange rates form to set up currencies with corresponding exchange
rates.
Typically the system is based on either one unit or 100 units. If the
Express exchange rate field is set to 100 units, the exchange rate
should specify the equivalent of 100 units of the foreign currency.
For example, if the company currency is U.S. dollars and the foreign
currency is Canadian dollars, the exchange rate should specify how
many U.S. dollars equal 100 Canadian dollars.
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.
If the Start date field is blank, the exchange rate does not have a
start date and the original exchange rate is effective until another
exchange rate is entered into the system. It is mandatory that the
Start date be blank for the first exchange rate entered for a currency.
All posting amounts are rounded off to the nearest factor of the
specified unit, regardless of whether they are calculated and posted
automatically or entered manually by the user.
4. In the General ledger parameters form on the Ledger tab:
o Specify the maximum rounding amount for a voucher in the
default currency, in the Maximum penny difference field.
o Set up the rounding for secondary currencies in the Maximum
penny-rounding in secondary currency field.
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.
HINT: Enter a space before the currency symbol to separate the currency
amount and the symbol.
1. On the status bar, click the Currency field to open the Currency
converter form.
2. Select any of the currencies that have been set up for conversion in
the Currency converter form.
3. Enter the date used for the conversion in the Date of rate field.
4. Click a currency to select the new currency.
NOTE: When you change the display currency, the default currency of a
company does not change. Also, this is not a global change; it does not affect
any other users in the company, nor does it change the original transaction.
Step _____ : Create the CAD Currency in the Exchange rates form
Step _____ : Set the exchange rate value for CAD as of no date to 0.97
Step _____ : In the General ledger parameters form, enter 1 in the Express
exchange rate field
Step _____ : In the Company information form, select USD in the Currency field
Step _____ : Set the exchange rate value for CAD as of April 1, 2008 to 0.97
Step _____ : 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?
( ) True
( ) False
Ken is the Controller for Contoso Entertainment USA (CEU). CEU uses US
dollars as the company's default currency. CEU recently gained a new customer
that is located in South Africa and uses the South African Rand (ZAR).
Transactions for this currency should be tracked to two decimal places. As of
April 1, 2008, 12.35 USD equals 100 ZAR.
After some research, Ken has found that the following posting accounts should
be set for the new currency.
Field 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.
• Set up the exchange rate.
• Make ZAR available for currency conversion.
• Print a copy of the currency rates that are set up in the system.
1. To set up the currency and specify the posting accounts and rounding
options, follow these steps:
a. Open the Exchange Rates form to set up the South African Rand
(ZAR) currency.
b. Click the Posting tab to enter the posting accounts.
c. Click the Round-off tab to enter the rounding option
2. Set up the exchange rate. Every currency requires one exchange rate
entry with a blank date.
3. To set up ZAR for currency conversion, click the Currency
converter tab.
4. Print a report with the exchange rates for the Controller.
Step by Step
First, set up the currency and specify the posting accounts and rounding options.
1. Click General ledger, click Setup, and then click Exchange rates.
2. Press CTRL+N to add a line in the Overview tab.
3. In the Currency field, enter ZAR.
4. In the Name field, enter South African Rand.
5. In the ISO Currency Code, enter ZAR.
6. Click the Posting tab.
7. In the Realized loss field, enter 801300.
8. In the Realized profit field, enter 801500.
9. In the Unrealized loss field, enter 801400.
10. In the Unrealized profit field, enter 801600.
11. Click the Round-off tab.
12. 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
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.
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.
Scenario
Before he closes a fiscal year, Ken, the Controller of Contoso Entertainment
USA (CEU), sets up a new fiscal year with a 12-month period. Ken prepares
monthly financial statements to measure the delivery of actual results against the
budget, the operating result, financial position, and cash flow.
When you set up a new fiscal year, Microsoft Dynamics AX 2009 creates:
5. Enter the unit of measurement for that length in the Unit list.
3. In the Module user group area, specify the user group that can make
changes, when the module status is set to User group.
( ) Yes
( ) No
Ken, the Controller for Contoso Entertainment USA (CEU), must create a new
fiscal year. CEU has a fiscal year that begins on July 1, and is divided into one-
month periods.
Challenge Yourself!
Create the fiscal year for 2011, which begins on July 1, 2010.
1. In the Periods form, click the Create new fiscal year button to
create the fiscal year for 2011.
2. Select the period length of one month.
3. Review the new fiscal year in the Periods form.
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.
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.
Field Value
Before Fiscal year
Start/End Start
Calculation 3/13/2008
date
Starting point 1/1/2008
Field Value
Before Quarter
Start/End End
Calculation 3/13/2008
date
Starting point 3/31/2008
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.
The following examples are of the +/- field and the Days, months,
years and period fields:
Field Value
Before Year
Start/End Start
+/- 1
Days, months, years and periods Years
Calculation date 3/13/2008
Starting point 1/1/2008
After adjustment 1/1/2009
Field Value
Before Year
Start/End Start
+/- -1
Days, months, years and periods 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.
The From date fieldis based on the value in the After adjustments
field. The From date is used as the basis of calculation in financial
statement columns, and can be the start or the end date of a time unit
selected in the After field
3. Select whether the time unit in the After field should be set in the
beginning or the end of the time unit in the Start/End field.
The following examples are of the After field and the Start/End
field.
Field Value
After 4/17/2008
adjustments
After Fiscal year
Start/End Start
From date 1/1/2008
Field Value
After 4/17/2008
adjustments
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.
When you use standard reason codes instead of transaction text, you have
guidelines for which codes to select from. Standard reason codes also allow
management and auditors to analyze transaction history by specific reason.
Reason codes can be used with:
• 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
• Process allocation request
• Elimination proposal
• Consolidation, Online periodic
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:
• 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.
After dimension values are set up, you can assign them to the following:
• Ledger accounts
• General ledger transactions
• Accounts Receivable transactions
• Customers
• Accounts Payable transactions
• 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.
HINT: For accounts that have a List validation option selected, you must define
the Dimension table values in the Validate dimension form. To access the
Validate dimension form, click General ledger, click Chart of Accounts, select
the account number, click the Validation list button, and then click Dimension.
( ) Department
( ) Vendor
( ) Cost center
( ) Purpose
Challenge Yourself!
Help Phyllis enter the necessary dimension validation options for account
605110.
Step by Step
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.
The dimension that is the primary row pattern (main focus) must be
listed first, and the dimension shown within each primary row must
be listed second (secondary focus). For example, to print a report that
displays sales revenue per department, the department dimension
should be selected first and ledger accounts selected second.
NOTE: The Dimension Entry check box cannot be edited. It identifies whether
the dimension set is used with the dimension hierarchy feature. A dimension set
that drives the entry of dimension automatically is considered a focus also, but
must not be edited, modified or deleted from the Dimension focuses form. The
dimension set can be edited only in the Dimension sets form, which you can
access when you click General ledger > Setup > Dimensions > Dimension Set.
In June 2008, Sara, the Chief Financial Officer (CFO) at Contoso Entertainment
USA (CEU), advised staff that all entries made to income statement accounts
must include a department dimension.
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.
Generated Allocations
Allocation is the process of distributing monetary amounts to one or more
accounts or account and dimension combinations.
• 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.
• 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.
1. Click General ledger, click Setup, click Posting, and then click
Ledger allocation rule.
2. Press CTRL+N to create a new rule.
3. Enter the Rule as identification.
4. Enter a Description of the rule.
5. Optionally select the Effective start date and Effective end date for
the rule.
6. Select the Active check box, if the allocation rule is available to be
processed.
1. From the Ledger allocation rule form, select the General tab.
2. Review or change settings from the Overview tab in the
Identification and Administration sections.
3. View the Date last run, which displays the date when a user last
processed the allocation rule and created distributions.
4. Select the Intercompany rule check box if the allocation rule
involves being processed among multiple companies.
5. Select the Allocation method:
o Basis: Defines how and in what proportion the source amounts
are distributed to the various destination lines. For example,
allocation based on revenue dollars, in which the cost of
corporate advertising expense is shared across all departments, is
based on each department's sales in proportion to total
departmental sales.
o Fixed percentage: Takes criteria defined in the allocation source
and uses a fixed percentage amount that the user entered, to
determine the allocation amount for the destination.
6. In the Data source field, select the source of the amount to allocate:
o Ledger
o Fixed value
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.
12. If the Spread even Allocation method is selected, select from the
Keep account from list to use the source account.
13. If the Spread even Allocation method is selected, select from the
Keep dimension form list to indicate if you want to use the source
destination account and dimension or a user-specified destination
account and dimension.
1. From the Ledger allocation rule form, select the Source button.
2. Press CTRL+N to create a new record.
3. From the Field setting list select to allocate from an Account or
account Dimension combination.
4. If Dimension is selected in the Field setting field, select a
Dimension.
5. In the Source criteria field enter the account or dimension
information from which to allocate. You can use wildcard characters
to specify accounts or dimension codes. For example, if the selected
Dimension is Department and the source criteria = Admin,“”, the
system displays information that includes the department dimension
equal to Admin or a department dimension has not been specified.
1. From the Ledger allocation rule form, select the Offset tab.
2. In the Offset account from field, select where to find the offset
account.
o Source: The allocation process will use the respective account
defined in source.
o User specified: The allocation process will use the offset
account value specified.
3. If the Offset account from is set to User specified, select the Offset
account.
4. In the Offset dimension from field, select where to find the offset
account.
o Source: The allocation process will use the respective dimension
value that was defined in source.
o User specified: The allocation process will use the specified
offset dimension value.
Scenario
Phyllis runs the Allocation rules definition report that details the allocation rules
for the current year. The report contains details about each rule including the rule
ID, description, From/To account number and dimension combinations, effective
start and end dates, calculation method details, usage information, and other
setup information.
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.
7. Click OK.
NOTE: The Date last run field displays the last date when a user processed an
allocation rule and created distribution lines.
( ) 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
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.
2.
3.
Solutions
Currency and Exchange Rate Setup
Test Your Knowledge
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
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.
( ) True
(•) False
Is it possible to post activity that uses a date for which a period has not been
created?
( ) Yes
(•) No
Reason Codes
Test Your Knowledge
MODEL ANSWER - Reason codes are standardized codes that can be used
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
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 account-
dimension 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.
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
company’s 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:
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.
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
• Set standard parameters
• Access transactions
• View a company's financial state
• Ledger budgeting
• Validation
• Definition of the terms of allocation
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.
Follow these steps to create and name a new account in the Chart of Accounts
form:
CAUTION: Leave space between the account numbers for future changes to the
Chart of Accounts.
From the Chart of Accounts form Overview tab, select an account type to
define the ledger account category in the Account type list, which determines
how the account is handled by Microsoft Dynamics AX 2009. Select one of the
following options:
• 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.
For example, view the total balances of the revenue accounts on the
Overview tab in the Chart of Accounts form. Configure Account
type total by clicking Setup > Totals, where total groups are
balanced for all account intervals.
• 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.
To set the Ledger account category field value, from the Chart of Accounts
form Overview tab, select a Ledger account category from the drop-down list.
For example, the summary ledger accounts that are used by the Accounts
Receivable module are set up in the Accounts Receivable Posting profile form.
When the Locked in journal check box is selected, there can be no direct
posting. If there is direct posting, the Accounts Receivable ledger account will
not remain in balance with the Accounts Receivable sub-ledger.
Therefore, when you leave the Transaction text field, the pointer in
the general journal is automatically positioned according to the
choice. If the field is left blank, the debit is automatically proposed.
4. In the Balance control list, select the balance control criterion for
the transactions on the current account.
5. Select the Closed check box to prevent all posting on the account if,
for example, an account can no longer be used.
6. In the Offset account list, select the default offset account for an
account in the general journal.
By creating a default offset account, you can settle certain costs from
the same payment account without having to manually specify the
account every time.
• Sales tax
• Currency
• User ID
• Posting types
1. In the User ID list, specify the user who is authorized to post to this
account. The Validate user field determines how User ID must be
validated for posting.
2. In the Validate user list, determine how User ID must be validated
for posting. For more information, refer to the topic Create a New
Account - Validation Options.
1. In the Posting type list, determine the posting types allowed for the
current account to make sure that only the defined posting types are
accepted.
2. In the Validate posting list, determine how posting must be
validated. For more information, refer to the topic Create a New
Account - Validation Options.
For more information about financial statement options, refer to the Financials II
course.
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.
( ) True
( ) False
Ken is the Controller at Contoso Entertainment USA (CEU). CEU pays rent for a
leased building two times a year. The prepaid rent is an asset for CEU. The
following table provides additional information.
Option Value
Ledger account 131150
Name Prepaid Rent
Ledger account category Prepaid Expenses
Currency USD
Challenge Yourself!
Use the table information to create a new General ledger account.
Step by Step
Use allocation for realized and budget transactions. During allocation to the
given accounts, the net amount is totaled. After allocation, any remainder relative
to the journal line is posted to the original account with the original dimensions.
( ) True
( ) False
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.
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.
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.
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.
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.
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.
( ) Error account
( ) Cash difference
( ) Year-end result
( ) Penny difference
To print the Chart of Accounts report, click General Ledger, click Reports,
click Base Data, and then click Chart of Accounts.
To access the Audit Trail form, click General Ledger, click Inquiries, and then
click Audit Trail.
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.
• The entries result from posting transactions in:
o Journals
o Sales and purchase orders
o Any other modules that post to ledger
To open the Account Transactions form, click General Ledger, click Chart of
Account Details, and then click Transactions or click General Ledger, click
Reports, click Transactions, and then click Ledger Transaction List.
• Select the Show open only check box to only display transactions
not settled in the Ledger settlements form.
• In the Account Transactions form:
o All the transactions posted to the current account are displayed.
o The transactions are identified in the Voucher field and it
displays when the ledger transaction is posted.
o The Period code is also listed and the code is usually Normal.
However, Opening may also display for entries made in an
opening period and Closing for entries made in a closing period.
• Balance - Displays a small window that displays the balance for the
selected account.
• Balance by currency - Displays an overview of the account's
balance in the:
o Posted currencies
o Default currency
o Percentage of the total balance for each specified currency.
Define the period for the balance displayed in the Setup form
under the Balance button.
If there are revenue accounts with this functionality, you can quickly view the
revenue in a period without having to print reports.
Use the Period balances form to display balances for the current year in which
the system date falls.
To change the fiscal year, change the Date field at the top of the window to a
date in another fiscal year.
To access the Account references form, click General Ledger, click Chart of
Account Details, click the Inquiry button, and then click References.
To access the Account statement form, click General Ledger, click Chart of
Account Details, and then click the Account Statement button.
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.
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
1.
2.
3.
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
True or False: Account allocation is used for realized transactions and budget
transactions.
(•) True
( ) False
System Accounts
Test Your Knowledge
Which of the following system accounts are required to be set up? (Select all that
apply.)
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.
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
1. Set up journal names. Use the journal setup as a template for all new
journals by using the name listed in Journal names. This means all
the journals use the voucher series, offset account, and other
information that you set up.
2. Create a new journal. Many of the modules in Microsoft Dynamics
AX 2009 use journals for entering transactions. In General Ledger,
use journals for ledger posting. In Accounts Receivable, use Sales
journals for sales postings, and so on. When you open a journal
dialog box, create new journals by using the template that is
associated with the journal type.
3. Create journal lines and post transactions. When a new journal is
created, enter posting transactions in the journal and post it or
transfer the journal for someone else to review and approve.
Journal Examples
See the following examples of journals:
• Daily
• Periodic
• Invoice register
• Approval
• Customer payment
HINT: Use number sequences with alphanumeric characters so that you can
recognize voucher numbers for future inquiries and reporting. To define number
sequence codes, click Basic, click Setup, click Number sequences, and then
click Number sequence.
1. Select a journal from the Journal names form, and then click the
General tab.
2. In the Approval area, select the Active check box if the journal must
be approved before it is invoiced. The approval system enables
journal transactions to be reported as one of the following:
o Ready
o Approved
o Rejected.
3. Specify the users who can approve the journal in the Approve list.
NOTE: You can define approval options in the Journal names form on the
Overview tab.
1. From the Journal names form, General tab, select the Approval
workflow check box to start the workflow journal approval for the
journal name.
2. From the Configuration list, enter the workflow configuration to use
for the workflow approval for this journal name.
NOTE: You cannot use both the manual approval system and the workflow
approval system for the same journal name.
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.
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. Select the Delete lines after posting check box to delete journal
lines when posting is completed. Database space is saved. However,
the ability to inquire on posted journal lines is not saved.
4. Select which layer the journal transactions are posted to in the
Posting layer list.
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.
If the Currency or fixed rate fields are blank, the company currency
setup is used for the journal name automatically.
1. Select a journal from the Journal names form, and then click the
Posting restrictions button.
2. In the How do you want to set up posting restrictions? field, select
the restrictions for users. Restrict journal posting to the user who
created the journal for those who are assigned the control. If the user
is not assigned to a posting restriction, he or she can post all journals
for the journal name. Select from the following:
o By user group
o By user
o No posting restrictions
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.
For example, if only a journal for ledger transactions is used, set both
the From account type and the To account type to ledger. If you
are posting to a ledger account and the off set account should be a
bank account or fixed asset, you must enter the To account type as a
bank account or fixed asset.
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.
4. Enter a short, memorable name in the Search name field. The search
name frequently resembles the value in the Identification field.
For example, enter:
o 1 in the Identification field
o Daily in the Search name field
o Daily transactions in the Transaction text field
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.
The Name field is populated with the Account name of the ledger
account.
Follow these steps to view the current and expected balance of a balance control
account.
3. Select the Check continuous numbers check box for the system to
check for continuous numbers in the number sequences that generate
vouchers in ledger. If this option is selected, no missing numbers can
be in the voucher number sequence.
The Reference is a unique key for the journals in the General Ledger
module and acts as a batch number that links journal transactions
together. When you specify the number sequence for the journal
number reference, you can create general journal transactions. In the
Number sequence code list, set up a number sequence for journal
number transactions. The number sequence is created in the Number
sequences form.
Number sequences in the Journal names form are used for voucher
numbers (journal lines). You can number the journal by using the
number sequences in the General ledger parameters form on the
Number sequences tab.
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.
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.
1. Click General ledger, click Setup, click Journals, and then click
Journal texts.
2. Press CTRL+N to add a line.
3. In the Identification field, enter ren. Notice the Search name
defaults with the same value.
4. In the Transaction text field, enter rent.
5. Close the form.
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.
1. Task: Correctly order the following steps for working with journals.
1.
2.
3.
Solutions
Test Your Knowledge
1. Task: Correctly order the following steps for working with journals.
2.
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.
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.
• 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.
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 “V-
ACC-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. Enter a Default comment for the reason code. The comment you
enter here appears as the default comment when you select this
reason in transactions.
5. Select the Account type with which to use the reason code. An
account type limits the reason codes displayed in reason lists when
you create or modify a transaction of that type. For example, only
reason codes with an account type of Asset are available when you
enter fixed asset transactions. All the account type fields are visible
only if you open the Reason form from Basic.
Reason Codes
After you have created reason codes, select reasons for transactions or other
entries in the following forms.
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.
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.
This feature is available only if the Fill utility configuration key is enabled and
the user is assigned to the Fill utility security key.
Follow these steps to update multiple records by using the Fill utility.
1. Open the form that contains the field to update. For example, to
update the payment terms for multiple customers, access the
Customers form. Select a customer and select the Payment tab.
2. Right-click the field to update, such as the Terms of payment field,
and select Record info from the menu.
3. Click the Fill utility button.
CAUTION: Be aware that changing numerous records at the same time can be
time-consuming.
The following tables provide descriptions for the fields in this form.
Field Description
Name of table Displays the name of the table that was
modified for the selected Fill Utility Log
record.
Modified field Displays the name of the field that was
modified for the selected Fill Utility Log
record.
New value Displays the new value for the field that
was modified for the selected Fill Utility
Log record.
Created by Displays the user name of the person
who made the change, which is indicated
in the selected Fill Utility Log record.
Created date and Displays the date and time that the
time change occurred.
Query statement Displays the query statement that was
used to update the records for the
selected Fill Utility record.
Old value Displays the old value for the field that
was modified for the selected Fill Utility
Log record.
Summary
The Financial Features course described the setup of reason codes and the use of
the Fill utility.
1.
2.
3.
Solutions
Reason Codes
Test Your Knowledge
MODEL ANSWER - Reason codes are standardized codes that you can use
Fill Utility
Test Your Knowledge
Which of the following statements correctly describe the Fill utility? (Select all
that apply.)
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.
• 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.
Click General Ledger, select Journals, and then click General Journal.
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.
1. Use the tabs, for example the General or Dimension tab, to change
or add to any of the field information that is entered automatically
from the Journal names form.
2. Click Lines to create a transaction.
3. To inquire about transactions within a journal at any time, highlight
the journal and click the Lines button.
4. To print the journal and other reports, click the Print button.
5. To save the lines, press CTRL+S at the end of each line or use the
down arrow to enter a new transaction line.
6. Click the Post button either in the General journal form or in the
General journal lines form to post transactions to the General
Ledger immediately after you create transactions. When you post the
journal lines in either form, the results are the same. A transaction
does not affect account balances until you post it.
The only information that you must have to create a journal entry is the:
• Accounting date
• Ledger account
• Debit or credit amount
• 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.
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.
1. Select one of the following account types to use for the general
journal transaction in the Account type field:
a. Ledger - Use Ledger for transactions in a ledger account.
b. Customer - Use Customer for transactions to customers.
c. Vendor - Use Vendor for posting to a vendor account. For
example, when you record a vendor payment and specify Vendor
as the Account type, posting occurs in the specified vendor
account. At the same time, posting occurs automatically in the
vendor summary account in the General Ledger.
d. Project - Use Project to post to a specific project number.
e. Fixed assets - Use Fixed assets to post to a specific asset
number.
f. Bank - Use Bank if a bank account transaction is involved.
NOTE: Click Functions, then click Journal Texts to create a new transaction
text that you can reuse when you record in journals.
3. Enter the debit amount in the given currency in the Debit field.
4. Enter the credit amount in the given currency in the Credit field.
5. Select an Account type in the Offset account type list, and then
select the offset account in the Offset account list.
NOTE: Set up the default offset account for an account in the Journal names
form. By creating a default offset account, this field is populated automatically
without you having to specify the account manually every time. Also, set up
default accounts and posting account restrictions in the Journal names form by
clicking the Journal Control button.
( ) General ledger
( ) Bank
( ) Customer
( ) Vendor
( ) 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
Scenario
Ken is the Controller for Contoso. On Contoso paid 6,000.00 USD for the rent of
office space through December 31.
Option
Name of Journal GenJrn
Journal Number Accept the System
Default
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.
• After you enter the transaction information, post the journal.
Step by Step
Create the Journal:
Scenario
Cassie is the accountant for Contoso. On Contoso receives a bill for auto
insurance from vendor 8004 in the amount of 1,400.00 USD. Help Cassie post
the insurance by using the following dimensions.
Challenge Yourself!
Step by Step
Modify account 604400:
1. Click the Post button, and then click the Post option. An Infolog
form displays, which provides information about the post process.
2. Close the Infolog form.
3. Close the Journal voucher form.
4. In the Posted field, notice that the field is selected automatically.
5. Close the Journal form.
Scenario
Ken is the controller for Contoso. On June 25, 2008 he received an invoice from
vendor 3002 for 800.00 USD. A journal is to be created, using the GenJrn
journal, for the expense, debiting account 606300 and entering a second line,
crediting 110180. Help Ken validate the journal and review the balance control
accounts online. The payable to vendor 3002 is not set up in this lab.
Challenge Yourself!
• Enter and post a journal for office expenses, using two lines of entry
instead of an offset account.
• Validate the journal.
• Review the balance control accounts online.
Step by Step
Create the General Journal:
12. In the Date field, enter 06/25/2008. Note that this field may already
be filled in.
13. In the Account field, click the arrow to select account 110180.
14. In the Transaction text field, enter Inv. Use the Tab key to move to
the next field.
15. In the Credit field, enter 800.
1. Click the Validate button, and then click the Validate option. An
Infolog form displays, which provides information for issues in the
journal that may affect posting.
2. Close the Infolog form.
• 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.
NOTE: If Lines limit is set up in the Journal names form, you may have to
create several journals during posting. The number of the first journal posted is
saved automatically in each associated journal that you create.
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.
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.
( ) Yearly
( ) Immediately
( ) On a delayed schedule
( ) Set up as a job for batch processing
Scenario
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.
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.
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.
Select a number sequence for the journal name in the Voucher series list. Number
sequences manage automatic allocation of voucher numbers, invoice numbers,
and journal numbers used by Microsoft Dynamics AX 2009. You can set up
number sequences in the Number sequences form.
The number sequence automatically is applied to, for example, journal lines.
NOTE: To define number sequence codes, go to Basic, then click Setup, click
Number Sequences, and click Number Sequence.
1. Select the default account type for the journal name in the Account
type list. For example, when you record a vendor disbursement and
specify Bank in Account type, posting occurs in the bank account
selected in the journal. At the same time, posting occurs
automatically in the bank's posting account in the General Ledger.
2. Optionally, you can select a default offset account for the journal in
the Offset account list.
NOTE: If an offset account is set up, in the General tab, select the Fixed offset
account check box to prevent users from changing the default offset account.
3. Select the Active check box to start the approval system. This
enables journal transactions to be reported as ready, approved, or
rejected.
4. Specify the user group whose members should approve the journal in
the Approve field.
5. Close the Journal names form.
NOTE: There is also a Workflow approval process which is separate from this
approval process. if you are using Workflow approval, do not use steps 3 and 4.
HINT: View the history of approvals on the History tab of the Journal form and
the Journal voucher form.
NOTE: If the journal has errors, click Approval, and click Reject.
( ) True
( ) False
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.
How would we complete the following tables to provide Phyllis with the setup
that she needs? Some hints and the completed table is shown in the next lesson
sections.
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.
This voucher for the same amount must be recorded 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 are loaded into the form automatically.
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).
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.
4. Click OK.
( ) 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
Periodic Journals
A periodic journal is a journal that users enter only periodically. For example:
6. Click the Period journal, then click Save Journal when the
transaction is complete. A new window appears.
7. Either save the journal in an existing journal or create a new journal.
HINT: Be as descriptive as possible when you enter the Name of a new periodic
journal. It will be easier to identify the correct journal when you retrieve the
periodic journal.
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.
1. Go to and click General Ledger, then click Journals, and then click
General Journal.
2. Press CTRL+N or open an existing journal.
1. Enter the posting date for transactions or last date for transfer of
periodic transactions, in the To date field. This is the date the system
uses when searching through the periodic journals, and evaluating
whether to retrieve the periodic journal. Enter a date that is after the
date you saved the journal, even if the journal does not have an
accounting date.
2. Enter a date to use for the accounting date in the Empty date field if
the Date field in the periodic journal is empty. If the Date field is
empty, the To date automatically is used as a posting date.
3. Select the periodic journal to use in the Periodic journal number
field list.
4. Select either Copy or Move in the Copy or move journal field list.
This will determine whether or not the lines from the selected
Periodic journal number are left in a reusable status. If the lines are
copied, you can use the journal again. If the lines are moved, the
journal is not available for further retrieval.
5. Click OK to create the journal lines.
6. Post the journal as you normally would.
7. Go to General Ledger, click Periodic, then click Periodic Journal
to view or create all the periodic journals.
NOTE: You also can create periodic journals by using this form.
• 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.
• Number of units field - Enter the number of units defined in the
Unit field that make up the interval in which to post transactions for
the selected journal line. For example, if you have entered Months in
the Unit field and want to make quarterly postings, enter 3 in the
Number of units field. If you entered Days in the Unit field and 14
in Number of units field, you indicate that the periodic journal line
is posted every two weeks.
• 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.
Every time you post the Periodic journal by using the General journal form,
the Date field in the Periodic journal, Journal voucher is incremented
automatically by the values set up in the Periodic tab. This field is found by
clicking General ledger, then clicking Periodic, and then clicking Periodic
journals. Next, click the Lines button, and click the Date field.
When you select a Periodic journal to retrieve into the General journal form,
the value found in the To date field (click General ledger, then click Journals,
then click Lines, then click the Period journal button, then click Retrieve
journal, then click To date) determines whether to retrieve the journal. The
system retrieves the journal only when the To date field value entered in the
retrieval form is equal to or greater than the Date field in the Periodic journal
Journal voucher form line (found by clicking General ledger, then clicking
Periodic, then clicking Periodic journals, and then clicking Lines).
However, if the Date field in the Periodic journal Journal voucher form line is
blank, the line automatically transfers one time per retrieval, and the posting date
is set based on the values you enter during retrieval.
Scenario
Ken is the Controller for Contoso. It is the end of June and therefore one-sixth of
the prepaid rent must be expensed. Accounting staff must make an entry to move
the used portion of 1,000.00 USD to Rent Expense. Ken asks you to create the
Periodic journal and post the June entry.
Option
Name of Journal 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 1
Challenge Yourself!
• Create a Periodic journal to use for posting the monthly expense.
• Post the entry for June.
Step by Step
Set up the Journal name:
NOTE: You also can enable Reason codes for transaction reversal.
NOTE: You can set the number sequence to Continuous by clicking Basic, then
clicking Setup, then clicking Number Sequences, clicking Number Sequences,
and then clicking General Tab.
NOTE: Reversed tracing is active only for reversed transactions and reversed
transactions that you revoke.
( ) True
( ) False
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.
Scenario
An interest note is issued on September 16, with interest payable on October 15.
Assuming the interest payment at the end of the 30-day period is 100.00 USD,
half of the expense must be reported in September, because that is when the costs
were incurred. Phyllis, the Accounting Manager, enters a month-end transaction
on September 30, as shown in the following table.
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.
When the actual transaction for payment of interest is entered on October 15, the
following transaction occurs:
The overall balance for the interest expense for October is a debit of 50.00 USD.
Follow these steps to designate on the header that a general journal entry is a
reversing entry:
NOTE: You also can access the Reversing entry and Reversing date fields from
the General tab in the Journal form.
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.
Which of the following fields designates a reversing entry? (Select all that
apply.)
( ) Reversing entry
( ) Correcting entry
( ) Reversing date
( ) Correction date
• General Ledger, then click Reports, then click Journals, and then
click Nonposted Journal Lines.
• General Ledger, then click Chart of Account Details, then click
Inquiry, and then click Daily Journal Transactions.
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.
To access this report, click General ledger, click Reports, click Transactions,
click Periodic, and click Balance list.
• 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.
To access this report, click General ledger, click Reports, click Transactions,
click Periodic, and click Trial balance.
To access this form, click General ledger, click Inquiries, and click Audit trail.
To access this form, click General ledger, click Inquiries, and click Voucher
transactions. After you enter the criteria in the Inquiry form, click OK to
continue.
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.
1.
2.
3.
Solutions
Enter General Ledger Transactions
Test Your Knowledge
(•) True
( ) False
What information are needed to create a journal entry? (Select all that apply.)
( ) Yearly
(√) Immediately
( ) On a delayed schedule
(√) Set up as a job for batch processing
Approval Journals
Test Your Knowledge
In Microsoft Dynamics AX 2009, you can set up journals that require mandatory
approval.
(•) True
( ) False
Voucher Templates
Test Your Knowledge
With which journals can you use voucher templates? (Select all that apply.)
Which voucher template type allows users to recreate a voucher for the same
accounts and values as the original entry?
( ) Percent
( ) Division
( ) Aggregate
(•) Amount
You can select multiple transactions for reversal at the same time.
( ) True
(•) False
Reversing Entries - GL
Test Your Knowledge
Which of the following fields designates a reversing entry? (Select all that
apply.)
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.
This topic provides a general overview on taxes, with the focus on sales taxes,
although the tax system in Microsoft Dynamics AX 2009 can process many kinds
of taxes and duties.
The sales tax system within Microsoft Dynamics AX 2009 functions as follows:
When you buy an item from a vendor or sell an item to a customer, the system
must calculate all the applicable sales taxes.
The calculated sales tax in Microsoft Dynamics AX 2009 is based on the sales
tax codes included in both of the tax groups that are attached to the customer or
vendor and the item.
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.
• 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.
• Changes that you make to the ledger account numbers in Ledger
posting groups only affect transactions that have not yet posted.
• 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.
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.
These sales taxes are collected by the company on behalf of the tax authority
when you sell taxable goods and services. The amount you receive includes the
sales tax.
For example, if a customer makes a purchase of 95.00 USD and the tax amount is
5.00 USD, the ledger transactions are as follows:
** 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.
1. Select the ledger account for incoming taxes (receivable from the tax
authority) in the Sales tax receivables list. Vendors collect these
taxes on behalf of the tax authority when the company purchases
taxable goods and services, and the amount paid to the vendor
includes taxes. For example, if a vendor sends an invoice of 100.00
USD, of which 5.00 USD is value-added tax, the ledger transactions
are as follows:
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.
Enter the ledger account that offsets the use tax expense for taxes that vendors do
not claim in the Use tax payable list. The way you use this account depends on
the type of tax system your company chooses.
• 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.
A company buys office supplies on the Internet from an out-of-state vendor. The
vendor charges 100.00 USD for the supplies and no tax. The company may still
owe use taxes to the sales tax authority in its own state. The ledger transactions
are as follows:
NOTE: This field is visible only when the Apply U.S. sales tax and use tax rules
check box is selected in the General ledger parameters form on the Sales tax
tab.
1. Select the ledger account that the system debits when you pay taxes
in the Settlement account list. To ease use, group the account with
other ledger accounts in the Chart of accounts that contain posted
taxes. The sum of these accounts is the total balance of taxes due.
2. Perform the following on the General tab:
o Select the ledger account for posting gains on cash discounts in
the Vendor cash discount list. You can use this account to view
a more accurate audit trail on the transaction.
o Select the account for posting loss on cash discounts in the
Customer cash discount list. You can use this account to view a
more accurate audit trail on the transaction.
( ) 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
Scenario
Phyllis is the Accounting Manager for Contoso. Contoso has a new customer in
Alabama. A ledger account must be set up to record the sales tax liability and
payments made (settlements) to the taxing authority in Alabama automatically.
Phyllis asks you to perform these tasks for her.
Challenge Yourself!
• Create an account to record the sales tax payable and the sales tax
settlements for the Alabama customer.
• Set up a new ledger posting group to assign to the Alabama customer
to automate postings of sales tax transactions.
1. When you create a new account for the sales tax liability for the
Alabama customer, use account 220105 in the Chart of Accounts.
2. Create a new ledger posting group for the Alabama customer in the
Ledger posting form that uses the Ledger posting group ALST
(Alabama State Tax).
Step by Step
Set up the ledger account:
You can pay sales tax through a vendor or to the sales tax authority directly. To
pay sales tax through a vendor, specify the vendor's account number together
with the correct sales tax authority. Sales tax payments are transferred by the
system to the vendor making the payment. To make payments to the sales tax
authority, enter the sales tax authority's address information.
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.
1. Select the rounding form to use for rounding the sales tax amount on
the General tab in the Rounding form list. This feature is available
only for the German and standard sales tax reports. The following
rounding forms are available:
o Normal - Round up numbers five and higher and round down
numbers lower than five to the right of the specified unit.
o Downward - Round down any number to the right of the
specified unit.
o Rounding-up - Round up any number adjacent to the specified
unit.
o Own advantage - Round any number to the company's
advantage. When the system settles sales tax, the total sales tax
amount rounds automatically according to the setup on the sales
tax authority.
2. Specify:
o The general unit for rounding sales tax amounts in the Round-
off field, according to the chosen rounding form.
The ledger accounts to post gains and losses for rounding in the Account gain
and Account loss fields.
EXAMPLE: If you select Own advantage, with a Round-off of 0.10, the system
rounds a figure of 10.16 to 10.10 and -10.16 to -10.20. This ensures that the
rounding is always to the advantage of the company.
1. On the Address tab, enter the address of the Sales tax authority.
2. Enter the remaining contact information on the Contact
Information tab of the Sales tax authority.
Create as many sales tax authorities as needed, each with specific address and
contact information and report layout. The company can pay sales taxes to the
authority directly or through a vendor account created for the sales tax authority.
NOTE: If you have not set up the tax authority as a vendor, prepare a manual
payment to the tax authority on the appropriate due date.
( ) Countries
( ) States
( ) Regions
( ) Cities
Sales tax can be paid by the AX system to _____ ? (Select all that apply.)
( ) A client
( ) An employee
( ) A vendor
( ) A sales tax authority
Scenario
Phyllis, the Accounting Manager for Contoso, has asked for your assistance in
setting up a sales tax authority. Contoso recently started conducting business with
a customer in Alabama. A new sales tax authority must be set up to use to report
sales taxes to the Alabama authorities.
Challenge Yourself!
Set up the Alabama sales tax authority. Use ALA for the authority name.
1. Click General ledger, then click Setup, then click Sales tax, and
then click Sales tax authorities.
2. Create a new sales tax authority. Contoso uses the field value
“Normal” for the rounding method and it rounds to the nearest
penny.
Step by Step
Scenario
Phyllis, the Accounting Manager for Contoso, has discovered that assigning a
vendor to a sales tax authority has the following advantages:
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!
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.
NOTE: If the Include corrections field on the Sales tax tab page in the General
ledger parameters form is selected, Microsoft Dynamics AX 2009 automatically
prints all transactions that it must include in previous periods.
Reporting periods depend on the size of the company, laws, and the authorities.
Typical periods could be:
• Monthly
• Quarterly
• Yearly
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.
1. Click General ledger, then click Setup, click Sales tax, and then
click Sales tax settlement periods.
2. Select the reporting interval in days, months, or years, in the Period
interval list, on the General tab.
3. Enter the length of the settlement period in the Number of units
field. Based on how you define the Period interval, the settlement
period displays in days, months, or years.
EXAMPLE: If the Period interval is set to Month(s) and the Number of units is
set to 1, a new period automatically is one month. However, if the Period
interval is set to Month(s) and the Number of units is set to 12, the length of one
period is one year or 12 months. You can create new periods automatically by
clicking New periods.
4. To create a new period, click on the Periods tab, and then press
CTRL+N, or click New period.
5. Enter the first day and last day of a period interval in the From date
and To date fields. You cannot change an updated period interval.
This means that you cannot remove tax transactions from the original
period interval. You can correct errors with an offset transaction that
is identical to the original transaction, but with the opposite
mathematical sign.
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.
The Sales Tax Settlement Periods form contains several methods to inquire on
Sales tax transactions:
• 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.
( ) True
( ) False
Sales tax settlement periods specify at what intervals the company reports taxes.
( ) True
( ) False
Scenario
Ken, the Controller for Contoso, wants April, the accounts payable coordinator,
to pay Contoso's Alabama sales tax liability quarterly. The sales tax authorities
expect settlement 15 days after the close of the quarter. The sales tax settlement
period and deadlines are laid out in the following table:
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:
The sales tax value is very important because no tax is calculated without it.
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.
1. Click General ledger, then click Setup, click Sales tax, then click
Sales tax codes, and then click the Overview tab.
2. Select from the following options in the Origin list:
o Percentage of net amount - Percentage of purchase or sale,
excluding any other taxes.
o Percentage of gross amount - Percentage of purchase or sale,
including any other taxes. Sales tax calculates as a percentage of
the purchase or sale amount. This includes all other taxes or
duties.
o Percentage of sales tax - Percentage of another tax. The tax code
that this calculation is based on must exist in the system. On the
Calculation tab, set up the specific sales tax code that you based
the current sales tax code on, in the Sales on sales tax field.
CAUTION: If the Sales on sales tax field is blank, this indicates that the
amounts include all other taxes.
o 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.
NOTE: If the basis for tax is the number of units, this Unit field is mandatory.
1. Click General ledger, then click Setup, click Sales tax, then click
Sales tax codes, and then click the Calculation tab.
2. Click the Values button. Enter the Percentage/Amount in the
Values form. Click Values to set up the sales tax rate. Also refer to
the procedure on how to create sales tax codes intervals. Close the
Values form.
3. Click the General tab. Select the currency in which tax must be
calculated in the Sales tax code form on the General tab in the
Currency list. If the original transaction is in another currency, the
tax converts automatically.
NOTE: Also set up a purchase duty on a sales tax code by selecting the
Purchase duty check box. Users typically use the purchase duty if, for example,
a European company imports goods from a non-European company. Set up the
purchase duty in the General ledger > Setup > Posting > Purchase duty form.
4. Select whether a code or the sales tax rate should print with the sales
tax specifications in invoice documents by making a selection in the
Print field on the General tab.
5. Define an identifier that specifies the sales tax code on printed
invoices in the Print code field, but only if Print code is selected in
the Print list. The sales tax code identifier is an alphanumeric string
that may include special characters.
1. Click General ledger, then click Setup, click Sales tax, then click
Sales tax codes, and then click the Calculation tab.
2. Enter the lowest absolute value of a calculated tax on the
Calculation tab in the Round-off field. For example, if taxes should
round off to a unit that is 1/100 of the currency of the tax, enter the
value as a decimal (0.01). The Rounding form field indicates the
kind of rounding to use. Refer to the following table for rounding on
the amount $98,765.435 with different rounding values set up.
NOTE: Click General ledger > Reports > Base data > Sales tax codes to print a
report listing all the sales tax codes.
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.
Scenario:
Setup 1 Setup 2
Rate Formula Calculation Formula Calculation
Duty 1 10%
Duty 2 20%
Gross
Amount
Sales Tax 25%
Calculation
Duty +
Sales Tax
Total Sale
Setup 1 Setup 2
Rate Formula Calculation Formula Calculation
Duty 1 10% $10 * $1.00 $10 * $1.00
10% 10%
Duty 2 20% $10 * $2.00 ($10+1) $2.20
20% *20%
Gross $10+1+2 $13.00 $10+1+ $13.20
Amount 2.20
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.
1. Click General ledger, then click Setup, then click Sales tax, then
click Sales tax codes, and then click Limits OR click General
ledger, then click Setup, then click Sales tax, then click Sales tax
codes, and then click Values.
2. Enter the first date the tax limits apply in the From date field.
NOTE: The previous limits are visible because they are not overwritten when
users make changes.
3. Enter the last date the tax limits apply in the To date field.
4. With From date and To date fields, indicate a period that the
calculated tax applies to. The posting date determines when the tax
falls outside the given period.
If you have made changes to the limits, close the old period to indicate an ending
date in the To date field and create a period with a new starting date in the From
date field. Extend the old period by changing the date in the To date field. You
can change the limits taking effect at a later date.
1. Enter the lower sales tax limit in the Minimum sales tax field. If the
tax is lower than this minimum amount, it is reduced to zero
automatically. The amount in this field must be the same currency as
the currency specified in the sales tax code.
2. Enter the upper sales tax limit in the Maximum sales tax field. If the
tax is more than the amount indicated, it is adjusted automatically to
match this amount. The amount in this field must be the same
currency as the currency specified in the sales tax code.
1. In the Values form, specify a sales tax rate for the different intervals.
2. In the Value field, define the tax percentage, or amount for each unit.
If the basis for the calculation of tax is an amount, the entry in the
Value field on the Overview tab of the Values form is the
percentage value used in the calculation.
3. If the basis is several units, such as Purchase duty or Packing duty,
the entry in the Value field on the Overview tab of the Values form
is the amount for each unit used in the calculation. You can define
units by using the Unit field found on the Calculation tab on the
Sales tax codes form.
For a sales tax code, Limits define the tax to calculate, based upon the effective
interval dates and the minimum and maximum sales tax. These minimum and
maximum sales tax limits are the minimum and maximum sales tax that will be
calculated on the sale, after all tax calculations are performed.
1. In the Sales tax code form on the Calculation tab, select the origin
for the sales tax limits in the Marginal base list.
2. Select from the following options:
o Net amount per line - Value of the line, excluding any other
taxes.
o Net amount per unit - Value of the unit, excluding any other
taxes. This can involve the unit price specified by using a unit in
the Unit field.
o Net amount of invoice balance - The total value for the invoice,
excluding any other taxes.
o Gross amount per line - Value of the line. This includes any
other taxes. You can include only one tax code with this or the
next property in the individual calculation.
o Gross amount per unit - Value of the unit. This includes any
other taxes. You can include only one tax code with this or the
previous property in the individual calculation.
o Invoice total incl. other sales tax amounts - The total value for
the invoice. This includes any other taxes. You can include only
one tax code with this property in the individual calculation.
1. Select the origin for the sales tax limits in the Method of
calculation, in the Sales tax code form on the Calculation tab.
2. Select from the following options:
o Whole amount - The sales tax calculates for the whole amount,
which the tax rate for the interval that includes the transaction
determines.
o Interval - The base is divided into intervals. The part within a
given interval is calculated automatically based on the tax rate
for that interval.
NOTE: Click the Inquiries button > Included in sales tax groups or Included
in item sales tax groups to view or attach sales tax codes to sales tax groups or
item sales tax groups.
Click the Inquiries button > Posted sales tax to display posted sales tax
transactions for a sales tax code and an itemization of each tax. Use this function
for inquiries and error detection. In the Sales tax transactions form, click
Voucher to view related ledger transactions.
( ) True
( ) False
Task: Specify the origin for the sales tax limits in the Marginal base list. Match
the options to the answers.
Scenario
Ken, the Controller for Contoso, has received a notification from the State of
Florida that as of 07/01/2008, a tiered tax is due on video recorder sales. Ken
asks for your assistance in setting up tax codes that comply with the new
structure. The notice specifies the following rates:
Challenge Yourself!
• Use sales tax code intervals to structure the AV_FLST tax rate in
Microsoft Dynamics AX 2009 for the new rates.
• Microsoft Dynamics AX 2009 will require an ‘ending’ date for the
tax. Plan to enter an artificial date of 12/31/2020.
1. Before you add a new line to the Values form, you must enter dates
on the existing line. Suggested dates are 1/01/2003 - 6/30/2008.
2. Add the lines to the Values form. All of them will be assigned the
same date range assigned.
Step by Step
Edit the LA-FLST line:
In most countries, different tax rules apply when you trade with domestic and
foreign customers. The tax rules for foreign trade frequently are split up based on
bilateral and multilateral trade agreements. Therefore, you must create tax groups
depending on the taxes that may apply for a certain group of customers or
vendors. A careful analysis of the different types of customers and vendors that
the company trades with is a good starting point for determining the types of
Sales tax groups needed, and the setup of those Sales tax groups.
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
• Domestic customers: this group would contain the VAT and
Environmental Duty tax codes
After you create the sales tax groups, attach the appropriate sales tax group to:
• 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.
The Rounding by field controls the rounding principle that applies to the taxes
of the sales tax group. This field is available if your company configuration
includes sales tax jurisdictions.
The two kinds of rounding that you can select that apply to the sales tax group
are:
• Sales tax codes – Rounding is according to the sales tax code round-
off. You can see the value in the Round-off field on the Calculation
tab of the Sales tax codes form.
• Sales tax code combinations - Rounding is according to the sales
tax code combination that is attached to each invoice line.
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 form of identification to identify a sales tax group based on
specific criteria, such as country, state, or county, in the
Country/State and County/Purpose fields. This provides another
method to identify the group.
3. Select the Reverse sales tax on cash discount check box to reverse
sales tax on a cash discount on the General tab. States in the United
States have different requirements, so you must set up this
information on the sales tax group. When you create a sales tax
group, the selection in the Reverse sales tax on cash discount field
in Parameters defaults to the field.
4. Select one or more sales tax codes to use with the sales tax group on
the Setup tab. The fields on the Setup tab automatically fill in with
values from the Sales tax codes form.
General ledger, Parameters form – Specify the default setting of lowest priority
regarding the inclusion of sales tax in journal amounts. This is the setting that
will apply to amounts on journals if no other information is supplied through a
default setting of higher priority or through a manual setting in a line.
General ledger, Journal names form – Specify a default setting that overrides
the default setting on the Parameters form. Lines in journals that are patterned on
a specific journal template automatically receive the journal template default
setting regarding the inclusion of sales tax in journal amounts, unless you have
entered a setting on the journal itself.
If you select the Amount incl. sales tax field, you must enter gross amounts in
journals. Sales taxes are calculated on the basis of the gross amount and posted to
the sales tax account. The net amount is posted to the ledger account entered in
the journal.
If you do not select the Amount incl. sales tax field, you must enter net amounts
in journals. The net amount is posted to the ledger account entered in the journal.
The sales taxes are calculated on the basis of the net amount and are posted
automatically.
( ) Company
( ) Customers
( ) Ledger accounts
( ) Vendors
NOTE: This information is in Item sales tax group. The association between
sales tax codes and the item sales tax group is in the Item sales tax group form,
on the Setup tab.
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.
• 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.
The item sales tax group in this field is entered automatically on journal lines as
you create them, unless a specific item sales tax group is attached to the ledger
account that you enter in the line.
Follow these steps to set up a default item sales tax group for a particular ledger
account:
1. Click General ledger, then click Chart of accounts and select the
ledger account.
2. Select the default item sales tax group in the Item sales tax group
list on the Setup tab.
( ) True
( ) False
Use this form to create the sales tax jurisdictions for which the company must
collect sales tax. The sales tax jurisdiction functionality is designed for
companies that operate in the United States, but is not a legal requirement. The
form is available if an administrator enables the Sales tax jurisdictions
configuration key.
A sales tax jurisdiction is a grouping of sales tax codes for a particular settlement
period (including the sales tax authority). Each jurisdiction is assigned one or
more sales tax codes and has only one tax authority. Additionally, transactions
that are posted for the sales tax jurisdiction are posted to the ledger posting
accounts that are assigned to the tax account group that is selected in this form.
Some state tax authorities collect taxes for all the jurisdictions within the state. If
a state has many jurisdictions and a complex tax code structure, using
jurisdictions makes it easier for a company to pay correct tax amounts to the
authority.
1. Make sure that the configuration key is turned on for sales tax
jurisdictions. Click on Administration, click Setup, click System,
then click Configuration. Expand the General ledger configuration
key, then expand the Sales tax key, and then if needed click the
Sales tax jurisdictions key to activate it. Close the form, and allow
the system to update the system configuration.
2. Click General ledger, click Setup, click Sales tax, and click Sales
tax jurisdictions.
3. Press CTRL+N to create a new sales tax jurisdiction record.
4. In the Sales tax jurisdiction code check box, enter a unique
identifier for a sales tax jurisdiction.
5. In the Name text box, enter the name of the jurisdiction.
6. On the General tab, in the Settlement period and the Ledger
posting group lookup fields, select the values that you want.
7. In the Currency lookup field, select the currency of the sales tax
jurisdiction.
8. Click Sales tax codes. In the Sales tax codes form, create sales tax
codes for sales taxes that the sales tax authority collects in the sales
tax jurisdiction.
9. Close the forms.
NOTE: To create a jurisdiction sales tax code from an existing sales tax code:
Click General ledger > Setup > Sales tax > Sales tax codes. In the line for the
sales tax code on the Overview tab, in the Sales tax jurisdiction code lookup
field, select a jurisdiction.
1. Click General ledger, click Setup, click Sales tax, and click Sales
tax groups.
2. In the Sales tax group setup drop-down list, select Sales tax
jurisdictions. The Jurisdiction setup tab appears.
3. On the Jurisdiction setup tab, in the Rounding by drop-down list,
select the rounding convention for the sales tax group.
4. On the Jurisdiction setup tab, select the sales tax jurisdictions that
apply to the sales tax group, and enter information about tax exempt
status and use tax if applicable. The sales tax codes that are attached
to a selected sales tax jurisdiction appear automatically on the Setup
tab.
5. If necessary, you can change the sales tax codes of the jurisdiction in
the Sales tax jurisdictions form.
6. Click the General tab. In the Print drop-down list, select the way
you want sales taxes printed on the invoice.
7. Close the Sales tax groups form.
When a journal line or purchase or sales order line is created, the sales tax codes
on the sales tax jurisdictions that are attached to sales tax groups are matched to
the sales tax codes on the item sales tax groups, and sales taxes are calculated for
the transaction.
Scenario
Ken, the Controller for Contoso, has decided to do business with a new vendor,
Blue Yonder Airlines, located in Little Rock, Arkansas where business has not
previously been conducted. April, the accounts payable coordinator, receives an
invoice for $50,000 from Blue Yonder Airlines, and comes to you for help
because the necessary setups are to post this invoice are not in Microsoft
Dynamics AX 2009.
Field Value
Name Blue Yonder Airlines
City Little Rock
State AR
ZIP Code/Postal 72205
Code
Group 10
Currency USD
Terms of Payment N030
Field 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.
• City of Little Rock: three percent, the maximum tax limit that can be
paid is $1000 in sales tax
• State of Arkansas: two percent
Challenge Yourself!
• Setup two ledger posting groups, by using ARST for Arkansas and
LRAST for Little Rock.
• Setup a sales tax group by using ARLRA as the group name.
• Setup a sales tax authority by using ARA as the authority name.
• 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.
• Review the tax calculation in the journal.
Note that Sales tax jurisdictions will not be used in this lab example.
Review the tax calculation by clicking Inquiry and then clicking Sales tax
totals. It is not necessary to post the invoice.
Step by Step
Set up Blue Yonder Airlines as a vendor:
Set up accounts in the Chart of accounts account for sales tax payable:
Set up sales tax codes and sales tax code intervals for Arkansas and Little Rock:
Scenario
Ken is the Controller for Contoso. He wants to include sales taxes in journal
amounts to make it easier to create journal entries. Ken requests your assistance.
For example, suppose the sales tax is ten percent and the total invoice amount is
110.00 USD. If it is specified that the journal amount includes sales tax, the net
amount is 100.00 USD (110.00/1.10), and the sales tax amount is 10.00 USD.
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.
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.
NOTE: This field is not available if you select the Include corrections check box
on the Sales tax tab of the General ledger parameters form.
Follow these steps to enter additional information when you run a Sales Tax
Payment Report:
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.
Follow these steps to change the calculated sales taxes in a journal line, purchase
order line, or sales order line:
1. Select the transaction line that needs the sales tax revision.
2. Click Sales tax to open the Temporary sales tax transactions form.
NOTE: If you are working on purchase order or sales order lines, you must first
click Setup and then click Sales tax to open the Temporary Sales tax
transaction form.
2. Click Apply to close the form and to save the changes or click Reset
to cancel changes.
3. Press ESC to close the Temporary sales tax transactions form and
return to the journal lines or order lines.
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.
On July 10 the company reports taxes for June. The EUR 2,500 is not included in
the sales tax payment because the invoice is unpaid.
On July 15 the customer pays half of its balance due, which is EUR 5,000 plus
EUR 1,250 in sales tax.
On August 10 the company reports taxes for July. The EUR 1,250 is included in
the sales tax payment because the customer paid only part of the invoice. When
the rest of the invoice is paid, the rest of the sales tax is reported. In some
countries, the sales tax authorities require companies to report tax for the full
invoice amount, regardless of whether the full amount is paid.
2. When you create the sales tax code for the conditional sales tax,
select the General tab.
3. Select the sales tax code used for real sales taxes in the Payment
sales tax code list. The conditional sales tax then transfers to the
selected sales tax code.
NOTE: The sales tax rate, which is set up in the Values form, must be the same
for both.
Direct posting of sales tax codes is the only situation in which the sales tax code
manually is entered in the invoice journal on the General tab. Follow these steps
to make a direct posting of sales tax import:
( ) True
( ) False
The sales tax exempt description is saved on sales tax transactions for history and
reprinting.
• The sales tax group and sales tax rate is recorded automatically on
the transaction.
• The actual invoice groups the sales tax transactions according to
sales tax rates when the sales tax is not exempted.
If the invoice has sales tax exemptions, it groups the transactions according to
sales tax exempt descriptions.
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.
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.
( ) True
( ) False
Scenario
Ken is the Controller of Contoso, a company that has decided to specify sales tax
exemptions on invoices for their European subsidiary. Ken asks you to set this
up. Before implementing the EU sales tax directive, test the setup using the
California Sales tax groups.
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.
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.
The net amount (= invoice amount reduced by the withholding tax) is paid to the
supplier. The tax withheld posts to a ledger account for withholding tax, and
periodically is paid to the authorities. The buying company is legally responsible
for submitting a report to the tax authorities and to the supplier.
Withholding tax:
1. Click Administration, then click Setup, then click System, and then
click Configuration.
2. Expand the General ledger node and select the Withholding tax
check box.
3. Click General ledger, then click Setup, then click Withholding tax,
and then click Withholding tax codes.
4. Enter withholding tax codes with values and limits.
5. Click General ledger, then click Setup, then click Withholding tax,
and then click Withholding tax groups.
6. Enter withholding tax groups and attach the relevant withholding tax
codes on the Setup tab.
Follow these steps to set up withholding tax in Accounts Payable and General
Ledger:
1. Close the Infolog form, and optionally click the Withholding tax
tab for each selected line to edit or delete the calculated withholding
tax, or create new lines and enter the information.
2. Close the Settlements form. The payment amount on the journal line
is reduced by the withholding tax amount automatically.
3. Validate and post the payment journal.
NOTE: In the Payment journal lines form, all transactions are considered as
payments and the withholding tax setup always is handled as described in the
previous steps.
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
• Fixed tax amounts
• Tax on tax
• EU tax
• Tax exemption
• Packing duty
• Multiple tax calculation
• Flexible settlement periods
• Country-specific tax reporting and additional options
For EU countries, special EU statistic reports such as Intrastate and EU sales list
are also available.
1.
2.
3.
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
(√) Countries
(√) States
(√) Regions
(√) Cities
Sales tax can be paid by the AX system to _____ ? (Select all that apply.)
( ) A client
( ) An employee
(√) A vendor
(√) A sales tax authority
You use settlement periods to create and manage the periods the company uses to
report sales tax.
(•) True
( ) False
Sales tax settlement periods specify at what intervals the company reports taxes.
(•) True
( ) False
A sales tax code includes information about which of the following? (Select all
that apply.)
Sales taxes over the minimum limit amount automatically are discontinued and
sales taxes under the upper limit amount are set to the upper limit amount.
( ) True
(•) False
Task: Specify the origin for the sales tax limits in the Marginal base list. Match
the options to the answers.
e 1: Net amount for each line a. Value of the unit, including any
c 2: Net amount for each unit other taxes
b 3: Net amount of invoice balance b. The total value for the invoice,
excluding any other taxes
f 4: Gross amount for each line
c. Value of the unit, excluding any
a 5: Gross amount for each unit
other taxes
d 6: Invoice total incl. other sales tax
d. The total value for the invoice,
amounts
including any other taxes
e. Value of the line, excluding any
other taxes
f. Value of the line, including any
other taxes
When the sales tax groups are created, attach the sales tax group to ______.
(Select all that apply.)
( ) Company
(√) Customers
(√) Ledger accounts
(√) Vendors
You cannot change any default item sales tax group that appears automatically on
a journal line before you post the transaction.
( ) True
(•) False
(•) True
( ) False
If the invoice has sales tax exemptions, it groups the transactions according to
sales code descriptions.
( ) True
(•) False
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:
The application uses this information to process all bank transactions, such as
payments and deposits.
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.
Users can indicate the transaction type on journal worksheets. When the journal
is recorded, the application copies the contents of the Bank transaction type
field to the bank transaction.
Create one transaction type for Non-Sufficient Funds (NSF) transactions. NSF
transactions occur when a check is returned from the bank because the bank
account lacks sufficient funds to honor the check.
1. Click Bank, click Setup, and then click Bank transaction type.
2. Press CTRL+N to create a new record.
3. Enter a unique code in the Bank transaction type field.
4. Enter the name of the transaction type in the Name field.
5. 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.
1. Click Bank, click Setup, and then click Bank transaction groups.
2. Press CTRL+N to create a new record.
3. In the Bank transaction groups field, enter a group identification
code that refers to this group when a code is used in other Microsoft
Dynamics AX 2009 tables. The bank transaction group is an
alphanumeric string of up to 10 characters.
4. Enter a short description in the Description field.
5. Select a Bank transaction group to associate with a bank
transaction type.
6. Click the Type tab.
7. Click the Bank transaction type arrow and select a bank transaction
type to relate to the selected bank transaction group. The Name field
is populated automatically with the Bank transaction type name.
Annie, the bookkeeper at Contoso, must create a bank transaction type for cash
withdrawals. In addition, Contoso wants the option to analyze the total charges
paid to each bank. Annie will create an additional bank transaction group for
bank fees and interest charges.
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. Click Bank, click Setup, and then click Bank transaction type.
2. Press CTRL+N to insert a new record.
3. In the Bank transaction type field, enter 20.
4. Enter the name Cash Withdrawal in the Name field.
5. Leave the Ledger account field blank.
6. Close the Bank transaction type form.
1. Click Bank, click Setup, and then click Bank transaction groups.
2. Press CTRL+N to insert a new record.
3. In the Bank transaction groups field, enter 80.
4. Enter Bank Charges in the Description field.
Associate the new bank transaction group with fees and interest.
1. From the Bank transaction groups form click the Type tab.
2. Click the Bank transaction type arrow and select the bank
transaction type of 07 for Fees. The Name field is automatically
populated with the Bank transaction type name.
3. Press CTRL+N to insert a new record.
4. Click the Bank transaction type arrow and select the bank
transaction type of 08 for Interest charges. The Name field is
automatically populated with the Bank transaction type name.
NOTE: To define number sequence codes, click Basic, click Setup, click
Number sequences, and then click Number sequences.
1. Click Bank, click Setup, and then click Payment purpose codes.
2. In the Central Bank Purpose Code field, enter the code used when
reporting to the central bank.
3. Enter the name of the payment purpose code in the Name field.
4. Click the General tab.
5. Enter a description of the payment purpose code in the Purpose text
field.
6. Enter any additional information about the payment purpose code in
the Text field.
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.
8. Click the Address tab and enter the address for the bank.
9. Click the Contact Information tab and enter the information for the
bank group's contact person.
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.
1. To access the Bank accounts form, click Bank, and then click Bank
Account details.
2. Press CTRL+N to create a new record.
3. In the Bank account field, enter a unique ID number to identify the
bank account.
You cannot modify the bank account value for existing bank
accounts.
4. In the Name field, enter a name that is used to identify this account
on printed reports and other areas.
5. Select the group to which this bank belongs, if applicable, from the
Bank groups list.
6. If the bank does not belong to a bank group, enter the Routing
number that is provided by the bank. If a Bank group is selected,
the Routing number field will be populated automatically based on
the bank group setup.
7. Enter the bank-assigned account number in the Bank account
number field.
8. Select a ledger account from the Ledger account to post records
from the bank account.
When you enter a transaction in the daily journal, it is posted to the
ledger account when the record is entered in the bank account. If you
enter the transaction directly in the bank account, it is posted in the
Ledger when the account is reconciled. You can reconcile accounts
by using reconcile account.
9. Select the currency code from the Currency list.
NOTE: The values in the Days, Suffix, Drawer, Validate bank account, and
Post account fields all default from the Bank group, if defined.
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.
Contoso has opened a new bank account. The bank account will operate
primarily in Chinese Yuan (CNY), but may operate in other currencies. Annie,
the bookkeeper, must create a new bank group and new bank account in
Microsoft Dynamics AX 2009 for this bank. Annie does not have address
information for the bank account, but she does have the following specifications:
Challenge Yourself!
1. Add a new account for Cash in bank - CNY to the Chart of accounts.
2. Create the new bank group and assign the Chinese Yuan (CNY) to
the group.
3. Create the new bank account, which is part of the CHTB bank group.
Select the option to enable posting in more than one currency for this
bank account.
Step by Step
Create a new account for Cash in bank - CNY to the Chart of accounts.
Create the new bank group and assign the Chinese Yuan (CNY) to it.
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.
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.
1. To access the Check layout form, first access the Bank accounts
form by clicking Bank and then clicking Bank account details.
2. From the Bank accounts form, select a bank account, click the
Setup button, and then click Check layout.
3. Select the method to use for generating check numbers from the
Check number method list. Select either method:
o Fixed: Select when pre-printed checks exist. Before you use
checks for payment, you must create them by clicking the
Create checks button in the Bank account form.
o Free: Select when pre-printed checks do not exist. Microsoft
Dynamics AX 2009 automatically proposes check numbers
when you are using checks for payment.
EXAMPLE: To start the check 3 inches from the top of the paper, enter 3.00 in
the Check start position field and select ‘INCH’ in the Unit for the start position
of the check field.
BEST PRACTICES: Print two slip texts so that you can keep one and send the
other.
8. In the Prefix field, enter the text to print in front of the amount on
the check.
For example, if you are entering USD in this field and the check
amount is 1000.00, the printer will print USD 1000.00 on the check.
9. From the Ruler list, select one of the following rulers to display
when you test print.
o None: shows no ruler on test prints.
o Cm: shows the ruler in centimeters.
o Inch: shows the ruler in inches.
If you select the Company logo check box, click the Company logo
button to select the company logo to print on the checks. From the
Image form, click the Change button to select the file that contains
the company logo.
NOTE: The MICR line can be included only if the check is being printed on
blank paper without preprinted information, such as watermarks.
( ) Variable
( ) Fixed
( ) Print
( ) Original
()1
()2
()3
()4
Set up the check layout for the new bank account that you created in the previous
lab. Use these check layout requirements.
Challenge Yourself!
Step by Step
13. Click the Print test button to preview the check layout.
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.
1. Task: Put the following steps in order to create an account for checks that are
returned from the bank because the company lacks sufficient funds.
Step _____ : In the Bank Parameters form, in the NSF field, select the NSF
Bank transaction type.
1.
2.
3.
Solutions
Bank Transaction Groups
Test Your Knowledge
can be calculated for each bank transaction group and for each bank
transaction type.
Bank Groups
Test Your Knowledge
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
How many signatures can the application print on a check? (Select all that apply.)
(√) 1
(√) 2
()3
()4
Step 2 : In the Bank Parameters form, in the NSF field, select the NSF Bank
transaction type.
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.
• 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.
Payment Schedule
Use payment schedules to pay invoices in installments. Define the following to
set up a payment schedule:
• Number of installments
• Amount of each installment
• Due date of each installment
• Set amount
• Specified number of payments in which the amount owed is divided
into create equal payments
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.
Depending on the value selected in the Allocation list, different fields are
enabled on the General and Payment lines tabs.
3. Click the Payment Lines tab to define the line information for the
payment schedule, to designate how many different payments there
should be, and to divide how much of the total should be paid in each
payment.
4. Enter the time interval for each installment in the Quantity field.
5. Enter the value of the installment in the Amount currency field.
Enter either the value of the installment as a percentage of the
amount invoiced or as an absolute amount, depending on the value in
the Percentage/Amount field.
6. Select whether the value entered is a percent or an absolute amount
in the Percentage/Amount list.
1. From the Purchase order form, click the Setup button, and then
click Payment schedule.
2. Click the Payment lines tab. The payment plan is expanded into a
worksheet for the purchase order.
3. Change the values in the Due date, Value, Disc. date, or Discount
amount fields.
( ) 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
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.
Scenario
Contoso has a standard vendor payment term of Net 30 days. If an invoice with a
Net 30 payment term ships goods on September 15, and the invoice is dated
November 15, payment is due December 15. With a Net 30 Days settlement,
Contoso must pay the net due within 30 days of the invoice date, according to the
settlement. After that date, if the payment is not completed, an interest charge of
a specified percent per month may be added to the invoice. Other services
charges may also apply.
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.
1. From the Terms of payment form, click the Language text button
to translate the search name into more languages.
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.
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.
Set up the payment day in the Terms of Payment form on the Setup tab to
define the payment date used for calculation of the due date.
Cassie, the Accountant at Contoso, has been asked to set up a new term of
payment for a vendor that Contoso has been slow in paying. The vendor,
Southbridge Insurance Co., now requests that payments are paid in 12 days.
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.
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.
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.
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.
1. Click Accounts payable, click Setup, click Payment, and then click
Payment fee.
2. Enter an identification in the Fee ID field.
3. Enter a brief description in the Description field.
4. Enter a text that is used in reports and inquiries in the Transaction
text field.
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
4. Select a method of payment used for the actual payment fee in the
Method of payment list.
5. If the company agrees with the bank to specify the payment, select
the payment specifications in the Payment specification list.
6. Select the currency that enables the fee in the Currency list. Only
transactions with this currency can enable the fee. If you leave this
field blank, all currencies enable the fee.
7. Select the calculation method in the Percentage/Amount list. Select
among:
o Amount
o Percent
o Interval
8. Enter the size of the fee in the percentage of the payment or the
amount for one payment in the Fee amount field.
9. Select the currency code for the fee in the Currency list.
1. From the Payment fee setup form, click the General tab.
2. Enter the minimum transaction amount to enable the fee in the
Minimum field.
3. Enter the maximum transaction amount to enable the fee in the
Maximum field.
4. Enter the date the date interval starts for fee calculation in the From
date field.
5. Enter the ending date for date interval for fee calculation in the To
date field.
6. If the calculated fee is less than the value entered in the Minimum
fee field, it will not be applied.
7. If a financial cost is selected, you can select a Sales tax group and
an Item sales tax group to generate the relevant taxes.
NOTE: If sales tax is calculated, the net amount is posted on a ledger account,
and the sales tax amount is posted on a sales tax account.
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:
• Credit
• Cash in advance
• Bill of exchange
• Check and electronic payments
In the Methods of payment form, specify all the methods of payment the
company uses to pay its vendors. For each method of payment, enter information
that states how payments should be summarized and posted.
• Vendors
• Journals
• Purchase orders
1. Click Accounts payable, click Setup, click Payment, and then click
Methods of payment.
2. Press CTRL+N to create a new record.
3. Enter a name for the new method of payment in the Method of
payment field.
4. Select whether Microsoft Dynamics AX 2009 should total the
invoices in an automatic payment proposal. Options include the
following:
o Invoice - creates one payment transfer for each invoice
o Date - combines the payment for all invoices for vendors with
the same due date
o Week - combines all invoices for vendors with a due date within
the same week
o Total - combines all invoices from vendors for the same
payment
Format Action
Specify the format to export payment, for
example, a promissory note or a check
Export format format. The export format tells Microsoft
Dynamics AX 2009 how to communicate
with the bank.
Enter a format to return a message from the
Return format export format, if the bank supports an
electronic return file.
Remittance Enter a format for remittance to a specific
format bank.
NOTE: If the format list is empty, click the Setup button and select from the
available formats.
( ) Credit
( ) Cash in advance
( ) Check and electronic payments
( ) Bill of exchange
April, the Accounts Payable Clerk at Contoso has been asked to set up a new
method of payment called special cash discount (SCD). The SCD was requested
by Lake Electronics, a vendor with whom Contoso collaborates. The vendor has
asked Contoso to pay cash with a special discount, for the next few months to
help them with some accounts receivable shortfalls. Lake Electronics is offering
good terms with a 2 percent cash discount if the invoice is paid within seven days
and net payment due in 14 days.
Field Value
Payment status None
Account type Bank
Payment account EUR OPER
Bank transaction 03
type
Fee account 618190
Export Format 1 (Test)
Return Retur. Format 1 pr.
payment
Challenge Yourself!
Help April set up the method of payment. Attach the new terms of payment and
cash discount to the vendor.
Step by Step
Create a new method of payment called SCD, Special Cash Discount.
1. Click Accounts payable, click Setup, click Payment, 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 SCD.
4. Click the Period arrow, and then click Invoice.
5. In the Description field, type Special Cash Discount.
6. In the Days of grace field, type 0.
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 03 (Checks-
Printed).
11. Click the Fee account arrow, and then click 618190.
12. Click the File formats tab.
13. Click the Export format arrow, and then click Format 1 (Test).
14. Click the Return format arrow, and then click Retur format 1 pr.
payment.
15. Close all the forms.
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.
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:
For example, the payment term is used for vendor payment coverage
based on one purchase budget per vendor group. If a purchase budget
is set up for vendor group X and a purchase of 10,000 USD is
budgeted for June 15, a payment term is specified to correspond to
the current month + 30 days. On this basis, coverage is arranged so
that the budgeted item price of 10,000 USD is due for payment on
July 30.
1. From the Vendor groups form, click the Setup button, and then
click Inventory posting.
2. Set up general posting rules for all items, accounts, and sales-tax
codes by selecting one of the following in the Item code field.
o Table - This option is the highest in the hierarchy. By selecting
Table, the posting in ledger only applies to a specific item
number.
o Group - The posting in the ledger only applies to a particular
item group.
o All - Each transaction is posted for all item numbers in the same
account in the ledger. The first matching account is used for
posting.
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.
For example, set up the Primary receipt posting list to prioritize the Item. If
you buy some of item type B-R14 from vendor 3000, which is part of vendor
group 50, Microsoft Dynamics AX 2009 posts the transaction to account number
510120, because the item relation is more specific than the account relation.
If the posting is set up as illustrated in the following table, and the Primary
receipt posting list is set to Vendor, and you bought some of item type B-R14
from vendor 3000, the transaction is posted to account number 510100 because
of the Accounts Payable parameter setup.
( ) none
( ) one
( ) two
( ) ten
Phyllis, the Accounting Manager, has asked April, the Accounts Payable Clerk,
to create a new vendor group. Phyllis will use the vendor group to group vendors
who require Contoso to pay cash on delivery. The new group should be called 83,
and the description should be cash vendor group. After April creates the vendor
group, she must set up automatic posting of receipts to General ledger accounts.
The posting should have the account relation of 80 (other vendors), and post to
account number 211300.
Challenge Yourself!
Help April create a new vendor group that has automatic posting.
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. 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.
• 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.
1. From the Vendor posting profiles form, click the Setup tab.
2. Select an Account code:
o Table
o Group
o All
4. Select the account number of the ledger account that is used as the
vendor summary account for the vendor(s) to whom the posting
profile relates in the Summary account list.
If you use an invoice register and invoice approval journal, all
vendor invoices recorded as having arrived but not yet approved are
posted in the Arrivals account and the Arrivals offset account. When
these invoices are approved, the debt is transferred to the vendor
summary account. If your company does not use an invoice register
and invoice approval journal, all vendor invoices are updated directly
in the vendor summary account.
5. Select the liquidity ledger account that is used for cash flow forecast.
Cash flow forecast in the Settle account list. You can learn more
about Cash flow forecast in the Microsoft Dynamics AX 2009
Financials II course.
6. Select a ledger account number that is used to make temporary
postings of unapproved vendor invoices, which are updated through
invoice register in the Arrival list.
7. Select in the Offset account list, the ledger account number that is
used for offsetting unapproved vendor invoices, which are updated
through the invoice register. The offset account acts as the offset
account for arrival and contains unapproved vendor purchases.
Phyllis, the Accounting Manager has asked April, the Accounts Payable Clerk, to
set up a new posting profile for a group of vendors to be paid from a different
cash account than other vendors. Phyllis explained that the profile should be
selected for automatic settlement and should allow for cancellation. These are the
details:
Field Value
Posting Profile COD
Description Cash on Delivery Profile
Account Code Group
Account/Group 80 - Other Vendors
Number
Summary 211100
Account
Settle Account 110180
Arrival 211310
Offset Account 211320
Challenge Yourself!
Help April create the new vendor posting profile for group 80.
Step by Step
Enter as much data as possible when you set up Microsoft Dynamics AX 2009
because the data is used throughout the system for:
• Invoices
• Payments
• Reports
The base data automatically appears as the default for all transactions involving
the vendor.
6. Select the vendor group to which the vendor belongs in the Group
list.
7. Select the currency used for vendor invoices in the Currency list.
NOTE: Currency codes and exchange rates are created and maintained in the
Exchange rates form. You can change the vendor's invoice currency in the
invoice header before you enter purchase order lines.
NOTE: If you are using one-time suppliers you must set up a number sequence
for one-time suppliers in the Accounts payable parameters form on the Number
sequence tab. On the General tab in the Accounts payable parameters form,
select a vendor's account number that can serve as the default template for one-
time suppliers. Information is copied automatically when you create a one-time
supplier in the Vendors form. Microsoft Dynamics AX 2009 automatically
creates a one-time vendor when a purchase order is created for a one-time
supplier. Except for the vendor number, the one-time supplier inherits all base
information from the vendor number that is specified in this field. The one-time
vendor number sequence must be specified in the Number sequences form. If
you have no one-time suppliers, leave the Default vendor number blank.
9. Select the Small business check box if the vendor meets your
guidelines for being a small business. You can collecting this data to
generate reports about this information.
10. Select the Woman owner check box if the vendor is owned by a
woman. This field is used for statistical purposes only.
1. From the Vendors form, enter the vendor's address and contact
details on the Addresses and Contact information tabs.
2. If a vendor has more than one address, such as invoice, delivery,
purchase, alternative delivery address, or SWIFT, enter additional
addresses by clicking the Setup button and then Address from the
Vendors form.
3. Additionally, enter address, contact information, and parameters for
access from the Internet for external contact persons who associate
with vendors by clicking the Setup button and then Contact Details
from the Vendors form.
Contoso has begun working with a new vendor, Dakota Travel. April, the
Accounts Payable Clerk, must set up this new vendor. She wants to enable
automatic vendor numbering. These are the details:
Field Value
Vendor group 80 - other vendors
Credit limit 10,000
Method of Check payment - USD
payment
Cash discount 4%D10
Terms of payment N015
Challenge Yourself!
Help April create a new vendor.
Step by Step
Enable automatic vendor numbering.
Summary
Payment options in Microsoft Dynamics AX 2009 are flexible to accommodate
different business processes. You can:
1.
2.
3.
Solutions
Payment Schedule
Test Your Knowledge
( ) 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.
Payment Days
Test Your Knowledge
The payment day can be specified in what interval? (Select all that apply.)
Cash Discount
Test Your Knowledge
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
( ) none
(•) one
( ) two
( ) ten
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.
• Registered
• Approved
• Paid
• Invoice Register
• Invoice Approval Journal
• Invoice Pool excluding Posting
• 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
• Person who approves the invoice
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.
HINT: Create and define journal names in the Journal names form. To access
the Journal names form, click General ledger, click Setup, click Journals, and
then click Journal names.
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.
7. Select the Forced rate check box to use an exchange rate other than
the rate that you usually would use according to the posting date for
the selected currency code.
8. Select the Triangulation check box to include the exchange rate in
triangulation.
9. Enter the currency exchange rate that applies to the transaction in the
Exchange rate field. The exchange rate is expressed as the number
of units of the foreign (non-company) currency that displays in the
Express exchange rate field on the Ledger tab in the General
ledger parameters form.
10. Enter the secondary exchange rate in the Secondary exchange rate
field.
11. Select the Amount incl. sales tax check box if the amount in the
journal line includes sales tax.
12. Select the default bank account for the journal lines in the Bank
account field.
3. If the system has blocked the journal, the Locked by system check
box is selected, and you cannot post in the journal. You also can
select this check box manually. To release a blocked journal, clear
this check box.
4. To exclude users or user groups from the journal, select the Private
check box.
NOTE: For security reasons, only one user at a time can enter lines in a
particular journal.
5. If you select the Private check box, the Private for user field
contains your user identification.
6. To exclude users or user groups from the journal, select a group in
the Private for user group field. Only the users associated with the
selected group can access the journal.
Use Ledger, Customer, and Vendor when you post the transaction in the
respective account. When, for example, you record a vendor invoice and specify
Vendor in account type, posting occurs in the current vendor account. At the
same time, posting automatically occurs in the vendor summary account in
General Ledger.
Use Project and Fixed assets to post to a specific project number or asset number.
Use Bank if a bank account transaction is involved, and the transaction is used
later for reconciliation in the Bank management module.
1. In the Journal voucher form, select a sales tax group for the
transaction in the Sales tax group list. The value defaults from the
Sales tax group field on the Setup tab of the Vendors form.
2. Specify the item sales tax group for each journal line in the Item
sales tax group list. The value defaults from the Item sales tax
group field in the Chart of Accounts form. If this field is empty, the
system retrieves the group from the Item sales tax group field on
the Sales tax tab in the General ledger parameters form.
View the sales tax amount that calculates on the invoice in the Sales
tax amount field.
NOTE: If the Exempt field in the Chart of Accounts is selected, the field is
always empty, but you can enter a value manually.
NOTE: In the Validate currency code field in the Chart of Accounts form, you
can set up validation rules for the currency.
1. In the Cash discount area of the Journal voucher form select the
code for the cash discount in the Cash discount list.
2. Enter the latest payment date to qualify for a cash discount in the
Cash discount date field. The discount date is calculated based on
the cash discount setup, but you can change it manually.
When you make a payment before the cash discount date, the
discount amount is redeemed and posted automatically. You also can
set up the cash discount information on the Cash discount tab.
4. Identify the bank account in the Account identification list.
NOTE: Create the vendor's bank account in the Bank accounts form, which can
be accessed by clicking Accounts payable > Vendors > Setup > Bank accounts.
NOTE: In the Chart of Accounts form, you can set up a default offset account
that appears automatically in the Offset account field.
The lines posted in the invoice register transfer to the invoice pool and the
physical invoices are given to the person who must approve them. The person
approves with a signature or a stamp and returns the invoices to the Accounting
Department. When invoices return, the accountant registers the approvals in the
invoice approval journal and posts them. After that, the invoice is ready to be
paid, and the amounts post to the real cost accounts.
HINT: If the invoice register is not being used or if most of the incoming
invoices do not require approval, enter the vendor invoices directly into an
invoice journal.
When the invoice is registered, the tax authorities can refund the tax as long as
the invoice is registered. This means the tax handling associates with the invoice
and not the actual payment. This is relevant for non-U.S. tax handling.
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.
Invoice Pool
To view the postings in the invoice pool click Accounts Payable, click
Inquiries, and then click Invoice pool.
• The invoice pool displays the relevant information about the invoices
awaiting approval.
• The invoice pool holds invoices originating from a purchase order
that originate from an invoice register. Click the Purchase order
button to select and approve the purchase orders.
NOTE: All tabs and fields in the Invoice pool form are discussed in the Invoice
Register lesson.
1. Click Accounts payable, click Reports, click Status, and then click
Invoices not approved.
2. In the query window, you can specify:
o Vendor account
o Employee
o Due date
1. In the Journal voucher form, select one of the vouchers in the upper
pane. In the lower pane, view the transaction lines that are created
when the voucher posts.
Ledger accounts from the temporary posting are selected already for
these lines, but you must select the appropriate ledger account for the
open line.
2. Click the Validate button, and then click Validate voucher only to
run a check to verify that the invoice in the upper pane is ready for
posting.
3. Select the next invoice in the upper pane, and enter the account
information in the lower pane.
4. Repeat steps 1-3 until you have entered and validated account
information for all the invoices.
HINT: Instead of validating each line, click the Validate button, and then click
Validate when the account information is complete for all the invoices.
5. Click the Post button, and then click Post. You can now settle the
posted invoices in the Payment journal.
( ) True
( ) False
April, the Accounts Payable Clerk at Contoso, creates invoice registers and
approves invoices. April's typical workflow is to create invoice registers on
Monday, view the invoices to be approved in the invoice pool on Tuesday, and if
there are enough to process, approve the invoices by using the invoice journal on
Tuesday and Wednesday.
Field 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 Invoice approval
description
Invoice offset account 601500
Challenge Yourself!
Use the invoice register, invoice pool, and invoice approval journal to complete
the workflow outlined in the scenario.
1. The invoice register and the invoice approval journal are in journals.
2. The invoice pool is in inquiry.
3. The approver must be specified in the Approved by field in the
invoice register.
Step by Step
Follow these steps to pre-register the invoice and transfer it to an invoice pool.
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.
( ) True
( ) False
Phyllis, Accounting Manager at Contoso, has asked April, the Accounts Payable
Clerk, to enter invoices to the invoice pool excluding posting. Phyllis wants to
review April's work.
Field Value
Vendor account 3002
Transaction text Invoice
Credit 1000
Invoice number INV777
Invoice journal name Vend_I
Invoice journal Vendor invoice
description
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
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.
You can validate and post from two forms, and the process is the same regardless
of which window you use.
• Journal form
• Journal voucher form
Validate the Journal before it posts. The validate process ensures that the journal
is correct. For example, the system verifies that all mandatory fields have
information entered and that the journal balances.
To validate a journal, click the Validate button from either of the forms, and then
click either Validate to validate all the journals or Validate voucher only to
validate only the selected line.
If Then
The journal is correct A window appears with the message: Journal
is OK.
The journal is incorrect A window appears with details of what is
incorrect. If a journal does not validate
correctly, it cannot be posted.
( ) True
( ) False
April, the Accounts Payable Clerk at Contoso, has been asked by Phyllis, the
Accounting Manager, to enter an invoice into an invoice journal, validate the
journal, and then post it.
Field Value
Invoice journal name APInv
Vendor account 3002
Invoice number INV879
Credit 1300
Offset account type Ledger
Offset account 211320
Challenge Yourself!
Help April enter, validate, and post a journal.
Step by Step
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).
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.
4. Click OK.
( ) Percent
( ) Division
( ) Aggregate
( ) Amount
Payment Journals
After you register, approve, and post the invoice, it is time to pay the invoice.
• There are two methods for selecting the invoices to pay through the
payment journal.
o The Payment proposal option searches for invoice lines that
meet selected search criteria.
o Use the Settlements option to select the specific invoice lines to
pay.
• 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 payment proposal function verifies vendor transactions that are
open and approved.
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.
• 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.
• Review each proposal line and the associated open transactions
before settlement. For example, delete an open invoice from the open
transactions lines if you are unsatisfied with the items and you do not
want to pay the invoice.
To delete a line, put the pointer on the line and press ALT+F9.
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.
1. After you inspect all the proposed lines click the Transfer button to
move the proposal lines to the payment journal when.
2. In the Payment journal lines form, continue to edit the lines in the
payment journal if necessary.
3. Verify the balances of company bank accounts to ensure you can
make the payments.
To view the balances, click the Inquiries button, and then click
Balance control.
4. Click the Validate button to validate the payment lines.
5. Click the Post button, and then click Post to generate the payments.
NOTE: The Vendor account and Currency fields must contain values to select
the Settlements option.
5. Click the Functions button, and then click Settlement to open the
Open transaction editing form.
1. From the Open transaction editing form select the Mark check box
to transfer the invoice to the Vendor payment proposal form. Mark
one or several invoices for settlement.
1. Click the Transfer button to move the proposal lines to the payment
journal after you inspect all the proposed lines.
2. In the Payment journal lines form, continue to edit the lines in the
payment journal if necessary.
3. Verify the balances of company bank accounts to ensure that you can
make the payments.
To view the balances, click the Inquiries button, and then click
Balance control.
4. Click the Validate button to validate the payment lines.
5. Click the Post button, and then click Post to generate the payments.
4. Enter values in the relevant fields in the first line on the Overview
tab of the Journal voucher form. Some fields may be entered
automatically with values from fields in the Journal form. Make
entries in the following fields:
o Account
o Transaction Text (This is optional, but it eases the entry of lines
in the journal because the pointer automatically goes to the
appropriate Debit or Credit field.)
o Enter an appropriate amount in the Debit or Credit field.
o Select an Offset Account Type in the Offset account type list.
o Select an offset account in the Offset Account list.
o Press the down arrow key to create a new line, and then enter
information about the next voucher.
1. From the Journal voucher form click the Validate button after you
enter all the voucher lines, and then click Validate or Validate
voucher only. This verifies that all the lines or the selected lines are
ready for posting.
2. Post the lines in the Journal voucher form or in the Journal form.
Click the Post button, and then click Post.
NOTE: Click the Inquiries button, and then click Balance control to ensure that
the bank account has funds available to pay the vendor.
• Payment proposals
• Settlements
• Manual payment journals
1. From the Journal voucher form, click the Functions button, and
then click Generate payments.
2. Select the method of payment for the invoice lines you are paying in
the Method of payment list. For example, if you are making a check
payment, select the method of payment for checks. Or, select an
export format in the Export format list.
3. Select the bank account from which to withdraw the payment in the
Bank account list.
1. From the Generate payments form, click the Dialog button to pay
with checks.
2. Fill in the fields and then click the Document button to print the
check.
3. Click OK to print the checks.
NOTE: To print checks, before you run the generate payments process, run the
create checks process in bank management. For information about this refer to
the Bank Management course.
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.
1. View the status of the payment in the Status field in the Payment
journal lines form. After the payment generates, the status is set to
Sent automatically.
2. Click Post to update the vendor account balance in the subsidiary
ledger and General Ledger account balances.
Sara, the CFO at Contoso, has returned from the annual Microsoft conference
called Convergence. She has submitted her expenses using an outside travel
agency called Margie's Travel. April, the Accounts Payable Clerk at Contoso,
must register and post the invoices in Microsoft Dynamics AX 2009, each in a
separate journal. She must then validate and post each journal.
Option Value
Date 4/1/2008
Invoice number 1000
Amount 550 USD
Approver Ezio Alboni
Option Value
Date 4/1/2008
Invoice number 1001
Amount 600 USD
Approver Ezio Alboni
Option Value
Date 4/1/2008
Invoice number 1002
Amount 150 USD
Approver Ezio Alboni
Challenge Yourself!
Help April with the following tasks:
4. After you complete the required steps, validate and post this journal.
5. Make the appropriate edits and validate the journal again.
6. Post the journal.
7. Generate the payment(s) for this invoice.
8. Print, validate, and post the payments.
Step by Step
Follow these steps to enter invoices in Accounts Payable.
Airfare Invoice
Hotel Invoice
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:
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.
April, the Purchasing Agent, receives the invoice in the mail for 50 bulbs at a
price of 2.00 USD each for a total of 100 USD, but the totals that April is
viewing reflect 30 bulbs at 2.00 USD each, for a total of 60 USD. April examines
the vendor invoice and notices that the quantity is 50, not 30 as the system
defaulted. She changes the invoice quantity to 50. The system flags April with a
Quantity matching discrepancy, because the quantity on the invoice does not
equal the total matched quantity for the invoice line.
April cannot post the invoice, but she chooses to put it on hold so she can check
with Alicia or Sammy to inquire why the invoice has arrived for a quantity that
differs from the packing slip quantity currently posted in the system.
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
NOTE: These fields are available only if the Invoice matching configuration
key is selected.
6. Select an item.
7. On the General tab, select an item price tolerance group.
8. Repeat steps 6 and 7 for the remaining items.
The default company price tolerance is zero percent and it applies to all items and
all accounts (All, All). You cannot delete the default company price tolerance
record.
For example, you can set up the following price tolerance percentage records.
( ) Purchase Order
( ) Vendor Invoice
( ) Packing Slip
( ) Vendor Checks
If Then
The amount paid is greater than the The invoice is settled and a payment
amount due transaction is created for the amount
by which the payment exceeded the
amount due
The amount paid is less than the The payment is subtracted from the
amount due amount due and the invoice remains
open
The amount paid equals the amount A payment transaction is generated
due for the payment amount, and the
transaction is closed.
When the transactions are settled they disappear from this form and can be
found on the Closed-transaction editing form.
5. Place the pointer on the primary payment line, if any, and select the
Primary payment check box. The purpose of a primary payment is
to get a more correct history or select the basis currency used for
cross rate.
6. Click Update. The selected vouchers offset each other. If a voucher
is not settled in full, it is recorded as Open.
( ) True
( ) False
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.
( ) Editing settlements
( ) Reversing settlements not honored by the bank
( ) Reversing settlements with incorrect information, such as dates
( ) Editing fully applied or settled transactions
April, the Accounts Payable Clerk at Contoso, realizes the last transaction posted
for vendor account 5001 should have been posted to vendor account 2001. She
must reverse the transaction and check history to ensure she reverses the
transaction. She then will make a note to enter the transaction correctly in the
morning.
Challenge Yourself!
Help April reverse the transaction and check history to ensure she reversed it
correctly.
Step by Step
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:
You can define the print management setup information for each document type
in a hierarchical list that consists of modules, accounts, and transactions. At each
level of the hierarchy, define print management original records, copy records,
and settings for any of the available document types.
Each original record or copy record can associate with a default setting that
specifies the footer text, printer destination, and number of identical copies to
print. If the Default setting check box in the Print management setup form is
selected, a document prints according to the specifications for the default setting.
If this field is not selected, a document prints only if a query for an associated
conditional setting successfully returns results.
Setting up print management at the module level requires the least amount of
setup and minimizes the maintenance work when settings change, such as
installation of a new printer. However, if business needs require, settings for
specific accounts or individual transactions can override module settings.
NOTE: You can use print management settings when you reprint documents.
Select Preview/Print > Use print management to reprint a document that uses
the effective print management settings.
1. Click Accounts Payable, click Setup, click Forms, and then click
Form Setup.
2. Click the Print management button. The hierarchical list in the left
pane displays the module, documents, original or copy records, and
conditional settings. The fields in the right pane are the options that
you can specify for each type of record. The displayed fields vary,
depending on the selected record. When the hierarchy list is
unexpanded, a plus (+) icon in front of the document type indicates
that a setup record exists.
3. To create a new record, right-click a document name and select New.
A new original or copy record is created and is displayed in the list
automatically.
4. In the right pane in the Original/copy field, select to create an
original or copy record. You can create only one original record for
each document, but you can create multiple copy records for each
document.
5. If you are creating a copy, enter a name in the Name field.
6. If the Do not print check box is selected, the original or copy will
not print. If there is an override of an original or copy record from a
higher level in the print management hierarchy, use this option to
stop a document from printing instead of only changing the
destination, number of copies, or footer text.
7. If the Default setting check box is selected, the original or copy
prints even if the queries for any applicable conditional settings do
not return any results. The original or copy is denoted in the
hierarchical list by the word Default.
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.
Alicia posts and prints the purchase order which prints a copy to Connie's printer.
Refer to the following table for the complete list of documents supported in
Accounts Payable and the path that gives access to the print management setup
for each document.
Document Path
Purchase order Accounts payable > Purchase order
Purchase order invoice > Advanced > Setup > Print
management
Purchase order packing slip
Purchase order receipts list
Request for quote Accounts payable > Request for
Quote > Setup > Print management
Document Path
Request for quote - Accept Accounts payable > Periodic >
Request for quote - Reject Request for Quote > RFQ reply >
Setup > Print management
Request for quote - Return
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.
NOTE: Although conditional settings and queries provide flexibility in the print
management settings, be aware that complex queries or many conditional
settings can affect posting performance.
Summary
Microsoft Dynamics AX 2009 offers several important features for managing
Accounts Payable. For example:
3. How do you create payment lines in the payment journal? (Select all that
apply.)
( ) Manual payment journal
( ) Payment transfer
( ) Settlement
( ) Payment proposal
1.
2.
3.
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
You can use the invoice pool to view registered invoices that are ready for
posting.
(•) True
( ) False
Invoice Journal
Test Your Knowledge
( ) 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
Invoice Matching
Test Your Knowledge
In the Is marked field, a red icon appears if a transaction already is selected for
settlement.
(•) True
( ) False
For what is the closed transactions editing functionality used? (Select all that
apply.)
( ) Editing settlements
(√) Reversing settlements not honored by the bank
(√) Reversing settlements with incorrect information, such as dates
(√) Editing fully applied or settled transactions
Print Management
Test Your Knowledge
3. How do you create payment lines in the payment journal? (Select all that
apply.)
(√) Manual payment journal
( ) Payment transfer
(√) Settlement
(√) Payment proposal
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.
• 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.
Payment Schedule
Use payment schedules to pay invoices in installments. To set up a payment
schedule, define the following:
• Number of installments
• Amount of each installment
• Due date of each installment
• Set amount
• Specified number of payments wherein the amount owed is divided
to create equal payments
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.
Depending on the value you select in the Allocation list, the General and
Payment lines tabs enable different fields.
1. From the Sales order form, click the Setup button, and then click
Payment schedule.
2. Click the Payment lines tab. The payment plan expands into a
worksheet for the sales order.
3. Change the values in the Due date, Invoice amount, Disc. date,
or Discount amount fields.
( ) Number of schedules
( ) Number of installments
( ) Amount of each installment
( ) Due date of each installment
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.
Scenario
Contoso has a standard customer payment term of Net 30 days. If an invoice with
a Net 30 payment term ships goods on September 15, and the invoice is dated
November 15, payment is due December 15. With a Net 30 Days settlement, the
customer must pay the net due within 30 days of the receipt of goods or receipt of
the invoice, according to the settlement. After that date, if the payment is not
completed, you may add an interest charge of a specified percent for each month
to the invoice along with other services charges.
6. In the Payment day list, select a payment day used for calculation
of due date.
7. Use the Language text button to translate the search name into
more languages. For example, if a French language text is created
the text is shown on invoices for all customers set up with French
as the language.
( ) Net
( ) Curr. Week
( ) Curr. Year
( ) C.O.D.
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.
Set up the payment day in the Terms of Payment form on the Setup tab to
define the payment date to use to calculate the due date.
Connie, Contoso's Credit and Collections Manager, has been reviewing the
outstanding customer balances. She noticed that the customer Cave Wholesales
has a large outstanding balance. After a telephone call to Cave Wholesales, both
parties agreed that Cave Wholesales will now make payments within 18 days.
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.
Cash Discount
Cash discounts are:
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.
( ) True
( ) False
Payment Fee
Use payment fees to:
Scenario
Contoso defined guidelines on how to handle late payments:
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
4. Select a method of payment used for the actual payment fee in the
Method of payment list.
5. If the company agrees with the bank to specify the payment, select
the payment specifications in the Payment specification list.
6. Select the currency that activates the fee in the Currency list. Only
transactions with this currency can activate the fee. If you leave
this field blank, all currencies activate the fee.
7. Select the calculation method in the Percentage/Amount list.
Select among:
o Amount
o Percent
o Interval
8. Enter the size of the fee in the percentage of the payment or the
amount for one payment in the Fee amount field.
9. Select the currency code for the fee in the Currency list.
1. From the Payment fee setup form, click the General tab.
2. Enter the minimum transaction amount to activate the fee in the
Minimum field.
3. Enter the maximum transaction amount to activate the fee in the
Maximum field.
4. Enter the date the date interval starts for fee calculation in the
From date field.
5. Enter the ending date for date interval for fee calculation in the To
date field.
If the calculated fee is less than the value entered in the Minimum
fee field, it will not be applied.
If a financial cost is selected, you can select a Sales tax group and
an Item sales tax group to generate the relevant taxes.
NOTE: If sales tax is calculated, the net amount is posted on a ledger account,
and the sales tax amount is posted on a sales tax account.
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 invoice in the Days
field.
Methods of Payment
Many companies offer several methods to pay due invoices, such as the
following:
• Credit
• Cash in advance
• Bill of exchange
• Check and electronic payments
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.
• Customers
• Journals
• Sales orders
6. Enter the number of days the customer can make the payment after
the specified method of discount, and still receive a cash discount
in the Days of grace field.
7. Select the payment status required to post a payment with this
method of payment in the Payment status list.
8. In the Posting area in the Account type list, select the type of
offset account that is used for payments. The most common
account type is bank.
9. Select the liquidity account for payment in the Payment account
list.
10. Enter the transaction type for a bank account in the Bank
transaction type list. The transaction type is marked on every
transaction generated in the payment proposal. This field is only
active when the account type is bank.
Format Action
Export format Specify the format to export
electronic payment.
Import format Specify the file format for the bank
report about payments from
customers.
Return format Specify a format to return a
message from the export format if
the bank supports an electronic
return file.
Remittance format Specify the file format for
remittances to a specific bank.
NOTE: If the format list is empty, click the Setup button and select from the
available formats.
( ) Cash in advance
( ) Credit
( ) Bill of exchange
( ) Check and electronic payments
One of Contoso's European customers has asked for the option to pay invoices in
cash in the Euro.
Phyllis, the Accounting Manager, has decided to also offer a two-day grace
period for all Euro cash payments.
Field Value
Period Total
Days of grace 2
Payment status None
Account type Bank
Payment account EUR OPER
Bank transaction type 02
Challenge Yourself!
Set up a new method of payment for European cash payments with a two-day
grace period.
Step by Step
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.
• Record sales budgets per customer group.
• Generate trade statistics per customer group. For example, to
generate sales statistics that shows monthly sales per customer
group.
1. From the Customer groups form, click the Setup button, and then
click Inventory posting.
2. Set up general posting rules for all items, accounts and sales-tax
codes. In the Item code field, select one of the following:
o Table: This option is the highest in the hierarchy. By
selecting Table, the posting in ledger only applies to a
specific Item number.
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.
For example, set up the Primary sales posting list to prioritize the Item. If you
are selling some of item type B-R14 to customer 4000, which is part of customer
group 40, Microsoft Dynamics AX 2009 posts the transaction to account number
401130, because the item relation is more specific than the account relation.
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.
( ) At least one
( ) At least two
( ) At least three
( ) At least four
Contoso is negotiating a deal with a group of Travel Agencies. Kevin, the Sales
Manager, has asked Arnie, the Accounts Receivable Clerk, to create a new
customer group for travel agencies. Arnie should assign the new group the code
of 60 and name it Travel Agencies. The payment term should be the current
month plus 15 days, with a 14-day settle period.
For this new group, automatic posting should have the Account code of all and
post to Account number 142300.
Challenge Yourself!
Create the new customer group with the correct setup options.
Step by Step
Create the new Customer Group 60, Travel Agencies.
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.
• 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:
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.
1. From the Customer posting profiles form, click the Setup tab.
2. Select an Account code:
o Table
o Group
o All
4. Select the account number of the ledger account that is used as the
customer summary account for the customer(s) to whom the
posting profile relates in the Summary account list.
5. Select the liquidity ledger account that is used for cash flow
forecast in the Settle account list. You can learn more about Cash
flow forecast in the Microsoft Dynamics AX 2009 Financials II
course.
6. Select a ledger account number to use for sales tax payments you
receive in advance in the Sales tax prepayments list.
7. Enter the identification of the collection letter sequence in the
Collection letter sequence field.
8. Select the code used for calculation in the Interest code field.
( ) All customers
( ) All employees
( ) Groups of customers
( ) Single customers
Phyllis, the Accounting Manager at Contoso, has asked Arnie, the Accounts
Receivable Clerk, to set up a new posting profile for a group of retail customers.
Field Value
Posting Profile Prom
Description Promotion
Account Code Group
Collection letter sequence High
Challenge Yourself!
Help Arnie create the new customer posting profile.
Step by Step
Enter as much data as possible in advance, because the data is used throughout
Microsoft Dynamics AX 2009 for:
• Invoicing
• Payments
• Reports
The base data automatically is displayed as the default for all transactions that
involve the customer.
If you leave the field blank, the system uses the customer account
number by default.
6. Select the customer group to which the customer belongs in the
Customer group list.
7. Select the currency used for customer invoices in the Currency
list.
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.
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.
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.
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.
Contoso has begun working with a new customer, Adventure Works. Arnie, the
Accounts Receivable Clerk, must set up this new customer. These are the details:
Option Value
Customer group Retail
Credit limit 10,000 USD
Mode of delivery Air
Sales tax group Illinois
Terms of payment Net 30 days
Method of payment CHCK
Challenge Yourself!
Create a new customer.
Step by Step
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
• Set up advanced payment schedules and use them as terms of
payment based on many factors including:
o Percentage allocation of the actual invoice amount
o Allocation based on a fixed number of installments
o Combined amounts and percentages of the invoice amount
1.
2.
3.
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
(•) True
( ) False
Methods of Payment
Test Your Knowledge
What are some ways that companies may pay due invoices? (Select all that
apply.)
Customer Groups
Test Your Knowledge
How many customer groups must you create in Microsoft Dynamics AX 2009?
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.
• Ledger accounts
• Free-text descriptions
• The entry of a sales amount
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 The user specifies the item number, and the system posts the
item-related transactions in the ledger.
o 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.
At Contoso, the Accounts Receivable Administrator uses free text invoices for
service charges that are not listed in the items table. For example, some of the
Product Managers consult with customers about specific product design
proposals, and the consulting fees are invoiced by using free text invoices.
Contoso also uses the free text invoice for anything that the company owns and
sells to customers that is not inventory-related. For example, the Accounts
Receivable Administrator typically invoices old plant equipment such as
hardware, furniture, and so on by using free text invoices.
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
3. Select the desired customer from the Customer account list. This
selection identifies the customer to which the transaction will post.
However, if the one time customer check box is enabled before you
select the customer, then the customer number will be created
automatically from the next number in the one-time customer
number sequence.
4. Select the account number to invoice in the Invoice account list if it
differs from what is set up in the Customers form.
5. Select the One-time customer check box to create a one-time
customer by using the one-time customer number sequence.
6. Change the date and currency, if necessary. The date and currency
are entered automatically when you select a customer account.
NOTE: The Invoice field is entered automatically when the invoice posts.
1. On the Invoice tab, in the Recipient field, select the employee who
received the order. This field is optional.
2. Change the language, if necessary, in the Language field. The
language is set automatically to the default language code set up by
clicking Basic, clicking Setup, and then clicking Company
information.
3. Change the Posting profile, if necessary. The Posting profile is
inherited from the value contained in the customer record of the
customer you select. The Posting profile is one source of receivables
ledger accounts.
4. Enter a number sequence group in the Number sequence group list.
Number sequence groups are collections of number sequences that
are grouped and assigned with one common heading to ease
administration. This field is optional.
5. Do not enter information in the Date field. The Date field is
populated automatically from the Overview tab. The Due date and
the Discount date fields are populated automatically depending on
the payment terms specified on the Payment tab. A Release date
may be entered.
6. Change the Sales tax field group values, if necessary. The Sales tax
field group values default from the Customers form. All fields are
optional.
7. In the References area, enter customer information such as a contact
person, a customer reference, or the number of the service or product
that the customer requested. All fields are optional.
8. Optionally, enter Document date and Foreign trade information.
Optional fields allow you to associate text, a fixed asset number, or value model
to the invoice line You also can enter Reason codes. Note that the use of Reason
codes may be mandatory elsewhere in the system. Additionally, you can enter
more detailed information about foreign trade.
1. Optionally, before you post, click the Setup button to change or add
miscellaneous charges, sales tax, payment schedules, or delivery
address.
2. To post the invoice, click the Posting button, then click Free text
invoice after you have entered all the necessary information. Posting
creates the ledger entries for the free text invoice. Optionally, you
can print the invoice.
3. To view the posted invoice after posting, click the Inquiries button,
and then click Invoice. You can reprint the invoice by clicking the
Preview/Print button, and then selecting one of the print options.
4. To view the posted voucher and ledger entries, go to the Free text
invoice form, and then click the Inquiries button, click Invoice, and
click the Voucher button.
Click Accounts receivable, click Free text invoice details, click Functions,
then click Open transaction editing to edit an open free text invoice transaction.
Use the open transaction editing functionality to change a free text invoice that
you have not yet settled. You can only perform limited editing in this form, for
example adjusting the cash discount. You cannot mark transactions when you use
the open transaction editing functionality from a free text invoice.
You can perform a more thorough edit of unposted and posted receivable
transactions by clicking Accounts receivable, clicking Customer details,
clicking the Functions button, and then clicking Open transaction editing.
In addition, you can use two types of form notes specifically for Free text
invoices:
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.
( ) True
( ) False
Scenario
Susan, the Order Processor at Contoso, has taken an order from Forest
Wholesales for consulting design, which she invoices to the customer without
creating a sales order. Your task is to help Susan complete the order by creating a
free text invoice for the consulting, and then posting the invoice.
Use the following information to create an invoice for the sale of the design
services in Accounts Receivable.
Enter the line for the invoice. Use the following information to create line
information:
Challenge Yourself!
Use any of the methods described in this section to create and post the free text
invoice.
Step by Step
Follow these steps to complete the exercise and set up the Accounts Receivable
Free Text Invoice.
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.
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.
• Checks open and approved customer transactions.
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.
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: Sometimes, the customer allows the company to withdraw the payment
directly from their bank accounts. In such a case, click the Functions button,
then click Generate payments.You must do this before you post.
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.
3. Click the Functions button, then click Settlement to open the Open
transaction editing form.
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: You must enter a Customer account and Currency to use the
Settlements option.
1. Select the Payment proposal check box and close the form when the
invoices are marked for payment. When you close the Open
transaction editing form, the Customer payment proposal form
opens and shows the payment proposal and the open transactions.
2. Modify the transactions in the Customer payment proposal form.
Click Transfer to move the payment suggestions to the payment
journal lines to make the payment. A confirmation form will open.
Click OK to confirm and continue.
NOTE: Sometimes, the customer allows the company to withdraw the payment
directly from their bank accounts. In such a case, click the Functions button,
then click Generate payments. You must do this before you post.
NOTE: Some fields in the journal contain default values that the Journal names
form assigns to the journal, and these fields usually are not edited by the user.
NOTE: Some journals are more limited, such as the Invoice register form, and
not all fields listed in the example are available.
1. In the Invoice field, enter or select the invoice that you have received
a payment for. Customer information displays automatically.
2. Click Validate to validate the payment line, and then click Post, and
click Post again.
1. In the Account field, enter the customer account that you have
received a payment for.
2. TAB to the Invoice field and click the arrow. All open invoices for
the customer will display.
3. For a known customer and a single invoice, select the invoice that
you want and skip to step 8, or alternatively proceed to step 4 for
multiple invoices.
4. Click Functions, and click Settlement.
5. In the Open transaction editing form, select the Mark field on the
line for the customer invoice that corresponds to the received
payment.
6. If the customer has sent a payment that applies to several invoices,
select the Mark field on each relevant invoice line. To see if the
payment results in a discount for the customer for a specific invoice,
place your cursor on the invoice line and click the Cash discount
tab. If a discount applies, it will be subtracted from the original
invoice amount automatically when you create the payment line in
the next step.
7. Close the Open transaction editing form. The payment line or lines
appear in the Journal voucher form with the correct invoice
information.
8. Click Validate to validate the payment line or lines, and then click
Post, and click Post again.
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.
1. Select the company, and then select the customer in the Customer
field. In the Select to pay pane of the form, all open transactions for
the selected customer will display.
2. Select the Mark check box next to each transaction that you want to
settle against this payment.
3. To save the marked lines in the Payment journal and remain in the
form, click the Save in journal button.
4. To save the marked lines in the Payment journal and close the
form, click the Close button. The form will close, and the Journal
form will display. You may then continue working in the Payment
journal.
NOTE: To clear any transactions marked for payment in the Enter customer
payments form, click the Clear button.
HINT: To view the details of the selected customer transaction, click the Show
document button.
( ) True
( ) False
What does the payment proposal function do? (Select all that apply.)
Scenario
Contoso has received a payment from Sunflower Shopping Mall. Use the
following information to create a settlement for the invoice in Accounts
Receivable.
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.
4. Click the Lines button and enter the information specified in the
example for the payment.
o Use customer number 2112, Sunflower Shopping Mall
o Enter the amount of 2,499
o Use offset account 110180
If Then
The amount paid is more The system settles the invoice and the payment
than the amount due transaction remains open for the amount by
which the payment exceeded the amount due
The payment amount is The system subtracts the payment from the
less than the amount due amount due and the invoice remains open
The amount paid equals The system generates a payment transaction for
the amount due the payment amount, and then closes the
transaction
NOTE: A red icon shows in the Is marked check box if a transaction already is
selected for settlement. When the transactions settle, they disappear from this
form and transfer to Closed-transaction editing.
NOTE: You also can reorganize transactions in the general journal and in
payment journals.
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.
If the invoice and payment are not settled when you create the payment, where
can these be settled?
( ) True
( ) False
Scenario
Two weeks later, a check for $108.90 arrives from the customer, so you then
must create a payment journal and post it for this amount. As part of the week
ending process, you now must check the Open transactions for all customers.
When you check the Whale Wholesales account, you notice that transactions are
open. Mark them for payment and update the account. To ensure that you have
done this correctly, check the Closed transactions for Whale Wholesales and
verify the transactions in the Closed transactions form.
Challenge Yourself!
Step by Step
Create the invoice:
To prevent a transaction from being posted until a specified date, enter a release
date, until which the transaction is on hold. You can edit and save transactions
that are on hold, but you cannot post them unless you first remove the hold.
1. In the Release date field, enter the date when the transaction is no
longer on hold and becomes available for posting.
2. To remove a hold on a transaction, you can clear the entry in this
field. Any user can clear the release date, regardless of who initially
entered it.
3. Press CTRL+S to save the transaction.
Users in London, which is five hours ahead of New York, also must wait 12
hours. However, because the transaction was put on hold at 17:00 Greenwich
Mean Time on December 31, the transaction will not be released until 05:00
Greenwich Mean Time on January 1.
For users in Seattle, which is three hours behind New York, the transaction was
put on hold at 09:00 Pacific Time on December 31. When the transaction is
released 12 hours later (at 21:00 Pacific Time), it will still be December 31 for
these users.
Reverse Settlements
When you work with reverse settlements:
As soon as the changes that you want are made, the system changes the
settlement amount, makes the corrections, and changes the status. View the
history by clicking the Inquiries button, then clicking History. The History form
displays an overview of settlements for the current voucher.
( ) True
( ) False
You are the Accounts Payable Coordinator at Contoso. You just realized that the
settlement posted to Whale Wholesales should have posted to customer account
1203- Pelican Wholesales, and you now must reverse the settlement to Customer
account 1301.
Challenge Yourself!
Use the Closed transactions editing function to reverse this settlement.
Step by Step
Reimburse a Customer
When you work with the reimbursement feature:
NOTE: If a customer does not have a vendor account, the system automatically
creates a one-time vendor account for the customer. You can set up vendor
accounts for customers by clicking Customer details, selecting the desired
customer, and then clicking the General tab. The Vendor account field is
located on that tab.
Scenario
You receive the payment, and then create and post a payment journal. Again, as
part of the week-ending process, you edit open transactions, including the open
transactions for Whale Wholesales. You notice the overpayment, so after you
edit the open transactions, you generate reimbursements so that you can
reimburse your customers, including Whale Wholesales, for their overpayments.
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:
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
To require reason codes for receivable transactions, select the check boxes next
to one or more of the following Reason code requirements settings in the
Accounts receivable parameters form:
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.
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 type a reason comment first and then select a
reason code, the typed reason comment is not replaced.
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:
The print management setup information for each document type is defined in a
hierarchical list that consists of modules, accounts, and transactions. At each
level of the hierarchy, define print management original records, copy records,
and settings for any of the available document types. When you generate a
document, it prints according to the effective original record and effective copy
records. An effective record can be inherited from a higher level in the hierarchy
or created as a new record for the current level in the hierarchy, or it can override
an inherited record that has the same name.
You can set up a default setting for each original record or copy record that
specifies the footer text, printer destination, and number of identical copies to
print. If you select the Default setting check box in the Print management
setup form, a document prints according to the specifications for the default
setting. If you do not select this field, a document prints only if a query for an
associated conditional setting successfully returns results.
Setting up print management at the module level requires the least amount of
setup and minimizes the maintenance work when settings change, such as
installation of a new printer. However, if business needs require, settings for
specific accounts or individual transactions can override module settings.
NOTE: You can use print management settings when you reprint documents.
Select Preview/Print > Use print management to reprint a document that uses
the effective print management settings.
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.
Contoso requires five copies. Simon enters the footer information for each copy,
which is as follows:
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.
Scenario
Arnie, the Accounts Receivable Coordinator, is entering a sales order for a new
customer. Because this is the first time he is selling to the customer, the terms are
cash on delivery. He must enter the order with the customer's payment terms so
that the material will be sold and delivered on time.
Arnie posts and prints the sales order, which prints a copy to Connie's printer.
Refer to the following table for the complete list of documents supported in
Accounts receivable, and the path that gives access to the print management
setup for each document.
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.
If you post sales orders for customer accounts 1102 and 1104 with the original or
copy records and defined conditional setting, the following results will occur.
NOTE: Although conditional settings and queries provide flexibility in the print
management settings, complex queries or numerous conditional settings can
affect posting performance.
Which of the following activities can you not control with print management
settings?
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.
1.
2.
3.
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
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.)
(•) When the payment and the invoices are in different currencies
( ) When the payment and the invoices are in the same currencies
( ) When the customer and the invoices are in the same currencies
( ) When the customer needs to be reimbursed
If the invoice and payment are not settled when you create the payment, where
can these be settled?
(•) True
( ) False
Reverse Settlements
Test Your Knowledge
You can reverse a settlement if the bank does not honor a payment.
(•) True
( ) False
Print Management - AR
Test Your Knowledge
Which of the following activities can you not control with print management
settings?
• Create checks
• Delete checks
• Create a bank deposit entry
• Void checks
• Create a refund that prints out a check
• Use bank remittances
• Reverse a posted check payment
• Reconcile bank statements
Introduction
Within the Bank Management module, users manage the financial transactions
between the company and its bank accounts. These transactions include the
following:
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.
• From the Bank menu which provides a view of check transactions
for all bank accounts.
EXAMPLE: For Microsoft Dynamics AX 2009 to start with check number 2000
and to create 1250 checks, in the From field, type 2000, and in the Quantity
field, type 1250. Microsoft Dynamics AX 2009 will create checks numbered 2000
to 3249.
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.
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.
( ) Void
( ) Processed
( ) Created
( ) Invoiced
Annie, the Bookkeeper at Contoso, must complete a check run that consists of 15
checks, starting with check number 101. The checks are from the EUR OPER
bank account.
After Annie created the checks, she learned that only 12 of the checks were
needed. The last 3 checks must be deleted.
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.
• Delete the final three checks.
Step by Step
Create 15 checks for the EUR OPER bank account, starting with check number
101.
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.
• 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.
Or, click the Enter customer payments button to enter the payment
in the Enter customer payments form.
5. From the Journal voucher form, in the Account field, select the
account of the customer who made the deposit.
6. Select a Transaction text to attach a note about the transaction to
the deposit.
7. In the Credit field, type the deposit amount.
NOTE: The system may require a Reason code if the Require reasons for
deposit slip payment cancellations check box is selected on the General tab of
the Bank parameters form.
During review, you can either approve and post the journal, or reject the
cancellation. Follow these steps to review cancellations.
1. Click Bank, click Journals, and then click Deposit slip payment
cancellations.
2. Select the cancellation journal to review and then click the Lines
button.
3. Review the cancellation and select one of the following approval
options:
o To approve and post the cancellation journal, click the Post
button, and then click Post or Post and transfer.
o To reject the cancellation, click the Delete Record icon on the
toolbar.
1. Select the line for the canceled deposit slip in the Deposit slip form,
and then click the General tab.
2. Verify that a check mark is in the Canceled field.
Annie, the Bookkeeper for Contoso, must enter a deposit for Customer 2022 for
1000 USD. The deposit was made to the USA OPER bank account and the
payment reference is 1987.
Annie realizes that she entered the deposit slip in error. The payment reference
should be 1988.
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. Select the line for the canceled deposit slip in the Deposit Slip form,
and then click the General tab.
2. Verify that a check mark is in the Pending Cancellation field.
1. In the appropriate payment journal, select the lines ordered for the
printing of the checks.
NOTE: This procedure can be used only if you have not posted the checks.
April is the Accounts Payable Clerk at Contoso. One of her regular tasks is to
create checks. Yesterday, April created a check from the Bank of USA Operating
Account for Topaz Electronics for 385 USD, and left before posting the check.
Today, April opened the payment journal she created last night, only to see that
she had made an error. She had created the check for $385, but should have
created it for $3850.
Challenge Yourself!
Help April complete the following steps:
View the checks for the Bank of USA Operating Account to verify that the check
numbers are voided.
Step by Step
Create a payment journal and generate a check payment, but do not post the
payment:
View the checks for the Bank of USA Operating Account to verify the check
numbers are voided:
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.
Step _____ : Create a customer payment journal line with a negative amount.
Step _____ : Modify the method of payment to Check Refund on the negative
payment journal line.
Challenge Yourself!
Help Annie create a refund check to pay Triangle Headquarters the overpayment
amount of 396 USD.
Step by Step
Bank Remittance
Use the Remittance form to view the remittances that are made to company bank
accounts.
NOTE: For each step, you can define the minimum amount of information that
the user must enter before he or she can continue to the next step. To ensure that
the bank advice is printed before posting, set a post validation for print.
6. The File creation date field displays the date that the file was
created.
NOTE: For each step, you can define the minimum amount of information that
must be filled in before continuing to the next step. To ensure that the file is
created before posting, set a post validation for file creation date.
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.
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.
During review, you can either approve and post the journal, or reject the reversal.
Follow these steps to review reversals.
5. In the Bank Statement field, enter the number of the bank account
statement.
6. In the Currency field, verify that the application inserts the correct
currency for the selected bank account.
7. In the Ending Balance field, enter the total ending balance on the
bank account statement.
NOTE: The Reconciled field displays the date of account reconciliation. The
system enters the date automatically when you post the transaction lines that
reconcile company bank records with the bank statement.
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.
4. In the Deposit Slip field, enter the number for the deposit slip that a
payment should be associated with, if applicable to the transaction.
Click the Deposit Slip button to view a list of the deposits for this
account.
5. In the Amount Currency field, enter the transaction amount in the
specified currency.
6. In the Ledger Account field, indicate which ledger account the
system should offset when you create the new transactions during
reconciliation. The corrections post when you update the
reconciliation.
7. In the Transaction Text field, enter text that describes the
transaction.
8. On the Dimension tab, enter any required dimensions for the
transaction.
2. Click the Print button, and then click Bank reconciliation to print a
report that takes non-reconciled transactions into account and shows
transactions after reconciliation date.
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.
Explain the circumstances in which you would delete, void, or reverse a check.
1.
2.
3.
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?
Delete a Check
Test Your Knowledge
( ) Void
( ) Processed
(•) Created
( ) Invoiced
Deposit Slips
Test Your Knowledge
MODEL ANSWER - On the Deposit slip form, on the General tab, the
Refund Checks
Test Your Knowledge
When you perform bank reconciliation, how do you exclude transactions that are
in the application but not on the bank statement from the reconciliation?
MODEL ANSWER - Checks that are created but not used have the status of
Created in the Status field. Checks with a Created Status can be deleted.
After printing or trying to print checks, but before posting, checks may be
voided. This may happen if checks are damaged in printing. If payment has
been made and a check has been posted, you can reverse it.
General ledger > Reports > Base data > Sales tax codes
General ledger > Reports > Transactions > Sales tax transactions
General ledger > Reports > Transactions > Periodic > Sales tax list
General ledger > Reports > Transactions > Groupings > Sales tax
transactions - Details
General ledger > Reports > Transactions > Groupings > Sales tax
specification by ledger transaction
Click General ledger, click Reports, click Reconciliation, click Sales tax, and
then click Sales tax to reconcile sales tax and ledger accounts.
In the Reconciliation sales tax/ledger form, specify intervals for dates, vouchers
and ledger accounts.
If the Ledger account fields are empty, only the summary accounts that are
defined in the Ledger posting form are shown in the report.
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.
Accounts payable > Reports > Base data > Vendor base data
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.
Accounts payable > Reports > Base data > Vendor phone list
Accounts payable > Reports > Transactions > Invoice > Open invoice
transactions
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.
Accounts payable > Reports > Transactions > Invoice > Invoice specification
To print a vendor account statement report, select from the following options:
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.
Accounts payable > Reports > Transactions > Vendor > Transactions
Field Description
Only open If Only open is selected, transactions that are
settled are not shown.
Include reversed Select the Include reversed check box to
include transactions that are reversed using
the Transaction reversal functionality.
Exchange rates Select between Invoice date and Adjustment
date.
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.
Accounts payable > Reports > Transactions > Vendor > History by
transaction
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 Enter the balance as of date.
Start date Select the date for calculation of columns.
Criteria Select if the report is made per due date or per
invoice date.
Aging buckets Select an aging bucket. The aging bucket is
set up in the Aging buckets form in
Accounts payable > Setup > Statistics >
Aging buckets.
The interval is overruled if an aging bucket is
selected.
Print aging bucket Select Yes to print a description of the aging
description bucket.
Field Description
Interval Number of units in each period, day, or
month.
Day/Mth. Choose between day and month. This field
works with the Interval field.
Printing direction Select directions for printing (future or past).
Details If selected, all transactions are included.
Negative balance If selected, negative balances are included.
Payment positioning Payment without settlement appears in the
first column, when this field is selected.
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
The report shows credit totals. This often represent the amounts invoiced, and
debit totals, usually amounts paid. Therefore, the report can be used for fast
analysis of development in Accounts Payable.
Field Description
From date This is the date for the opening balance
column.
Report period start This is the start date for the report period
date displayed in the debit and credit columns.
To date This is the end date for the report period
displayed in the debit and credit columns, and
date for the closing balance column.
Criteria None – Prints accounts regardless of
transactions or balance in the period.
Opening balance – Prints accounts that have
opening balance on From date.
Transactions – Prints accounts that have
transactions in the period between From date
and To date.
Closing balance – Prints accounts that have
closing balance on To date, which means
accounts with transactions in the period
between From date and To date or with an
opening balance.
Accounts payable > Reports > Status > Vendor balance list
Accounts payable > Reports > Statistics > Invoice > Invoice turnover report
Accounts payable > Reports > Statistics > Invoice > Invoice journal
• 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:
Accounts receivable > Reports > Base data > Customer base data
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.
Accounts receivable > Reports > Base data > Customer phone list
Invoice Journal
The Invoice journal report displays a list of all invoices for a selected customer
and date.
Accounts receivable > Reports > Transactions > Invoice > Invoice journal
Customer Transactions
The Customer transactions report lists all transactions for a customer.
Accounts receivable > Reports > Transactions > Customer > Transactions
Customer Aging
The Customer aging report shows a balance due per customer per given period.
Field Description
Balance as on Enter the balance as of date.
Start date Select the date for the calculation of columns.
Criteria Select if the report is made per due date or per
invoice date.
Aging buckets Select an aging bucket. The Interval field is
overruled if an aging bucket is selected.
Print aging bucket Select yes if the report should print a
description description of the aging bucket as defined in
the Aging buckets form in Accounts
receivable > Setup > Statistics > Aging
buckets.
Field Description
Interval Select the number of units in each period, day
or month.
Day/Mth. Choose between day and month. This field
works with the preceding field.
Printing direction Select directions for printing (future or past).
Details If selected all transactions are included.
Negative balance If selected negative balances are included.
Payment positioning Payment without settlement appears in the
first column, when this field is selected.
Accounts receivable > Reports > Status > Customer aging report
Accounts receivable > Reports > Status > Detailed due day list
Accounts receivable > Reports > Status > Customer balance list
• Account
• Revenue
• Margin
• Quantity
Accounts receivable > Reports > Statistics > Customer > Top 100
• Voucher
• Date
• Check number
• Deposit slip number
• Transaction history
Select from the buttons on the right of the window to view additional inquiries.
The options are:
Inquiry Description
Voucher Select from the buttons on the right of the
window to view additional inquiries. The
options are:
Checks Displays a list of existing checks that are
associated with the selected bank account.
Use this function to inquire about the status of
previously created checks.
Deposit Slips Provides an overview of existing deposit
slips. The deposit slip is a document used to
deposit checks, credit card notes and cash into
a bank account.
Original Document Displays the origin of the transaction.
NOTE: The Bank Transactions form can also be accessed from Bank > Bank
accounts > View > Transactions.
Balance Control
The Balance control form displays the:
NOTE: The Balance Control inquiry window can also be accessed from
Bank > Bank accounts > Balance control.
1. Click Bank, click Reports, click Transactions, and then click Bank
account statement.
2. In the Period field, enter the Opening and the Closingdates.
3. To select a particular bank account, click Select.
4. In the Criteria field, select the bank account and then click OK.
5. Click OK to display the report.
Bank > Reports > Statistics > Bank payment summary by vendor
Payment Advice
The Payment advice report prints a remittance advice.
Deposit Slips
The Deposit slip report prints a report of the generated deposit slips. The report
prints for a selected deposit slip number interval.
1.
2.
3.