Dynamic Tech Services, Inc.
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This one-day course delves into the accounting cycle and the processes required to enter vendor invoices and process checks. This course will also show you how to perform additional functions such as adjustments, prepayments, month-end closing, and cash flow control.
You will gain a thorough understanding of these topics which will allow you to capitalize on vendor discount dates to reduce payable liabilities, and easily select the right vouchers for payment by date, vendor, number, or custom query, to control your cash outlay. You will learn to use comprehensive reporting features to present data in different ways, including many standard reports such as Aged Accounts Payables, Vendor Trial Balance, Check Register, and the Accounts Payable Batch Register. This course will also teach you how to define default values that automatically populate data fields and gather the information you need to make better business decisions by exploring powerful inquiry and lookup functions.
Learn how to improve productivity, reduce cycle time, and gain control over accounts payable processes. This is an essential course for all end-users, consultants, and implementers who want to learn about this core module of the Microsoft DynamicsT SL Financial system.
Classroom training provides serious, in-depth learning thorough hands-on interaction. From demonstrations to presentations to classroom activities, you will receive hands-on experience with instruction from our certified staff of experts and increase productivity and efficiency by learning tips and tricks from product specialists.
Audience
Accounts Payable training is recommended for anyone who plans to implement, use, maintain, consult, or support Microsoft Dynamics SL. The class is targeted toward data entry clerks, administrators, office managers, CEO's, and consultants who need to understand the technical aspects of Accounts Payable and gain foundational knowledge of the application functionality.
After completing this course, students will be able to:
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Perform all Accounts Payable related data entry functions including vendor invoicing, check processing, recurring vouchers, and manual checks.
Perform maintenance on accounts payable documents and other records such as vendors and recurring vouchers.
Select documents for payment and make appropriate adjustments to payment amounts prior to check processing.
Print standard Microsoft Dynamics SL reports to verify data and financial analysis for audit trail purposes.
Identify the impact of the Accounts Payable module on other Microsoft Dynamics SL modules.
Troubleshoot and correct operator input errors including an incorrect Period to post and how to void checks.
Before attending this course, students must have:
General knowledge of Microsoft® Windows®.
Knowledge of Basic navigation functions in Microsoft Dynamics SL.
Completion of General Ledger training course helpful but not required.
No Microsoft Certification exams are associated with this course currently.
The student courseware includes a comprehensive workbook.
Chapter 1: Overview
The purpose of this chapter is to introduce you to the Accounts Payable module of Microsoft Dynamics SL product and training course. This chapter introduces the windows and processes that are used to complete the accounting cycle in Accounts Payable.
Also, it is important to note that this chapter is optional and can be skipped at the instructor's discretion. If the instructor feels that each student's background provides sufficient experience in these topic areas, then the instructor reserves the right to skip this chapter.
Main Topics
Course Description.
Module Overview.
Accounts Payable Process Flow.
Other Features.
After completing this chapter, students will be able to:
Understand the goals of this course.
See how the Accounts Payable module fits into the suite of available modules for the Microsoft Dynamics SL system.
Follow the flow of transactions through Accounts Payable.
Chapter 2: Active Overview
This chapter examines the core processes that are used in the Accounts Payable module. The purpose of this chapter is to introduce each step in the accounting cycle, briefly discuss its purpose and primary features, and focus on its function in the accounting cycle. Please note that this chapter is not intended to provide you with a detailed primer on each of these topics.
This chapter is optional and can be skipped at the instructor's discretion. If the instructor feels that each student's background provides sufficient experience in these topic areas, then the instructor reserves the right to skip this chapter.
Transaction Flowchart.
Voucher Entry.
Payment Selection.
Check Printing.
Viewing Results.
Identify the basic processes required to enter and pay a vendor invoice.
Understand the purpose of the Payment Selection process.
Understand the process for printing a check.
View the results of transactions.
Chapter 3: Vendor Maintenance
This chapter examines the setup of vendors. The purpose of this chapter is to describe the information required to define a vendor in the system. A vendor must be defined before Accounts Payable documents can be entered.
Procedures for Maintaining Vendors.
Vendor Maintenance window.
Vendor Class Maintenance window.
Vendor History window.
Lab: Vendor Maintenance
Create new vendors.
Lab: Initialize 1099 Amount (Optional exercise, US Government reporting)
Use Initialize Mode to enter an already reported 1099 amount.
Establish identification codes for vendors.
Create and maintain vendors and vendor information.
Understand the uses of the vendor classes.
View vendor balances.
Chapter 4: Voucher and Adjustment Entry
This chapter discusses the concept of batch entry. The fields and features of the Voucher and Adjustment Entry window are also discussed. This chapter examines the types of documents that can be entered in the Voucher and Adjustment Entry window and the processes required to update vendor balances. Execute reports to verify information entered.
Procedures for Entering Vouchers.
Voucher and Adjustment Entry window.
Adjustment Debit and Credit documents.
Releasing Accounts Payable documents.
Accounts Payable batch reports.
Lab: Voucher Entry
Enter documents for vendor invoices received.
Enter voucher and adjustment documents for vendor invoices.
Edit voucher and adjustment data.
View vendor document information on reports.
Chapter 5: Vendor Inquiry
The objective of this chapter is to examine the series of windows available for viewing vendor balances and drilling down to the transaction details. The Inquiry windows allow you to view vendor balances and documents without having to print reports. Learn to view balances and drill down to the details of the transactions.
Vendor Inquiry Window.
Vendor Documents Report.
Vendor History.
Lab: Vendor Inquiry
Use the Vendor Inquiry window to view Accounts Payable data.
Perform vendor inquiries.
Locate vendor documents.
Drill down to document details.
Chapter 6: Recurring Vouchers
Use the recurring voucher feature to make repetitive documents more efficient. This chapter shows you how to define a recurring item and execute the process to create the voucher each period.
Procedures for using Recurring Vouchers.
Recurring Voucher Maintenance.
Generate Recurring Vouchers.
Lab: Create a Recurring Voucher
Create a recurring item for a monthly service contract.
Generate the recurring voucher.
Lab: Recurring Vouchers
Create a recurring voucher for a quarterly payment to a vendor.
Determine which vouchers should be defined as Recurring Vouchers.
Set up recurring items.
Process Recurring Vouchers to generate a batch.
Chapter 7: Payment Selection
The objective of this chapter is to examine the reports that help determine which vouchers to pay. We show you how to select the right vouchers for payment by date, vendor, number, or a custom query. Learn which options to use to take advantage of vendor discounts and pay invoices at the right time. Learn to create multiple check printing batches.
AP Check Diagram.
Procedures for Processing Checks.
Cash Requirements Report.
Aged Accounts Payable Report.
Editing Payment Selections.
Lab: Payment Selection
Print the Cash Requirements report and select documents for check processing.
Lab: Edit/Select Documents for Payment
Make changes to a Payment Selection batch.
Lab: Clearing Payment Selections
Clear all items from a Payment Selection batch.
Decide which documents should be paid.
Determine the best method to use for payment selection.
Edit amounts, discounts, and items selected for payment.
Clear Payment Selections.
Chapter 8: Check Processing
This chapter explores the check printing process and the various options available for processing checks after printing. Learn how to handle situations such as check forms that are loaded incorrectly or not at all. View the check preview to understand how checks display as a result of processing options.
Accounts Payable Check Update.
Manual Check Entry.
Lab: Check Printing
View the Check Preview, Print Checks and use the Check Update process.
Lab: Using Check Update
Print Checks, update the system and view the Check Register report.
Print Checks.
Evaluate the printed check forms.
Update check documents in the system.
Chapter 9: Voiding Checks
In this lesson you learn how to void a check after it has been issued, view the reinstated voucher, and understand the steps to issue a new check.
Procedures for Voiding Checks.
Void Check Entry.
Lab: Void Check
Void an issued check and view the resulting documents.
Void a check that has been printed and processed.
Decide if the voucher is to be re-paid.
Chapter 10: Check Reconciliation
This chapter explores the check reconciliation function within Accounts Payable. Comparisons are made to the Cash Manager module so students using Cash Manager understand the differences. Use the Check Reconciliation report to evaluate outstanding items.
Procedures to Reconcile Checks.
Check Reconciliation Report.
Check Reconciliation Window.
Lab: Reconcile Checks
Use the Reconciliation process in Accounts Payable to mark checks as "Cleared".
Clear checks issued to vendors.
Evaluate the Check Reconciliation Report.
Chapter 11: Quick Voucher and Prepayment
The objective of this chapter is to introduce the various ways that checks can be printed. Learn to manage pre-payment checks, print checks quickly, enter voucher information, and immediately print a check. Apply pre-payment checks to vouchers when the invoice is received from the vendor.
Overview of Quick Voucher and Prepayments.
Quick Voucher and Prepayment Window.
Apply Prepayments to Vouchers.
Lab: PrePayments
Issue a check to pay a deposit prior to receiving an invoice.
Lab: Quick Voucher and Check
Enter a voucher and print a check in one step.
Lab: Applying Prepayments
Associate a prepayment with the vendor invoice.
Understand when to use the Quick Voucher and Prepayment options.
Issue a check while and enter a voucher in one step.
Issue prepayments and apply them to vendor invoices.
Chapter 12: Month End and Closing
Create a closing checklist to ensure all transactions and activities have been completed for the accounting period. Produce appropriate audit trail reports and lean to correct an out of balance condition. Close only Accounts Payable, or all modules for the period. This chapter also discusses the detail retention and deletion options.
Balance the Accounts Payable module to the General Ledger.
Correct an Out of Balance Condition.
Close for the Month or Year.
Delete Accounts Payable Detail.
Perform Accounts Payable Integrity Check.
Understand Month-End processes and procedures.
Balance Accounts Payable to General Ledger.
Decide when to close Accounts Payable for the period.
Execute the Closing process.
Delete detail for Accounts Payable.
Understand the AP Integrity Check and when to use it.
Chapter 13: 1099 Processing (US Government Reporting)
This chapter discusses the 1099 reporting process. We show you how to enter vouchers that reference a 1099 box and explain how 1099 boxes are updated as checks are issued and voided. Learn to print 1099 Miscellaneous forms.
Procedures for preparing 1099s.
1099 Preview Report.
1099 Forms.
1099 Magnetic Media.
1099 Calendar Year Control.
Understand how 1099 boxes are updated.
Print 1099 Forms.
Appendix A: Accounts Payable Setup
Understand the defaults and user options defined in the Accounts Payable Setup window. Even though these options are typically not changed after the product is implemented, you will gain understanding of default values and processes through the settings in this window.
Accounts Payable Setup Checklist.
Accounts Payable Implementation Worksheet.
Procedures for entering initial documents and history.
Initializing Existing Activity.
Understand the options in the Accounts Payable setup window.
Understand how the Accounts Payable setup options impact the Accounts Payable module.
Initialize existing history.
Appendix B: Sales Tax Maintenance
This chapter discusses the options for tracking Sales Tax. Learn to define taxes and enter updated tax rates. Set default tax ID's for customers/vendors and use taxes in data entry.
Sales Tax Procedures.
Tax Maintenance.
Tax Categories.
Tax Groups.
Assigning Taxes to Vendors.
Using Taxes in Data Entry.
Tax Reporting.
Define Sales Taxes.
Understand Tax Groups.
Understand Tax Categories.
Use taxes in data entry.
Appendix C: Terms Maintenance
Define payment terms for customers/vendors. Learn to set up terms with discount options. Multiple installments can be defined using standard frequencies or user defined payment dates and amounts.
Shared Information Terms Maintenance.
Multiple Installments.
Using Multiple Installment Terms.
Define Terms for use in Data Entry.
Create Multiple Installment Terms.
Use multiple installment Terms.
