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In just one day, the Microsoft Dynamics SL General Ledger class explores the accounting cycle and the processes required to enter financial data into the system. This course will also show you how to perform additional functions such as account/subaccount validation, budgeting, allocation, month-end closing, and consolidation.
A thorough understanding of these topics allows you to streamline monthly and year-end closing processes by learning how to automate routine activities such as account allocations, and reports. You will learn how to accelerate data entry with transaction batch options while reducing data entry errors by defining valid account and sub-account combinations. 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.
General Ledger 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 General Ledger and gain foundational knowledge of the application functionality.
After completing this course, students will be able to:
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Create journal transactions to update General Ledger accounts.
Execute the posting process and view the results of the transactions in the General Ledger accounts.
Identify the appropriate use for the types of batches available for journal transactions.
Define Ledgers to track budgets, statistical accounts, and foreign currency accounting records for use in financial reporting.
Use appropriate General Ledger processes to perform accounting cycle functions such as creating journal transactions, posting to general ledger accounts, closing the accounting period, budgeting, and allocating account balances.
Identify transactions created in related modules and their effect on the General Ledger account balances.
Troubleshoot and correct operator input errors including incorrect period to post, entries to incorrect accounts, and correcting batches from submodules that impact the General Ledger.
Define set up options for the module that allow you to customize your system to better fit your organization's unique needs.
Before attending this course, students must have:
General knowledge of Microsoft® Windows®.
Microsoft Dynamics SL navigation is helpful but not required for this course.
This course helps you prepare for the following Microsoft Certification exams:
Microsoft Dynamics SL Financials
The Courseware includes a comprehensive workbook and Basic Procedure Guide. Additional fees may apply for course materials.
Chapter 1: Overview
This overview chapter introduces you to the General Ledger module of the Microsoft Dynamics SL product and training course, and the windows and processes that are used to complete the accounting cycle in the General Ledger.
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.
Main Topics
Course Description.
Module Overview.
General Ledger Process Flow.
Other Features.
After completing this chapter, students will be able to:
Understand the goals of this course.
See how the General Ledger module fits into the suite of available modules for the Microsoft Dynamics SL system.
Follow the flow of transactions through the General Ledger.
Chapter 2: Active Overview
This chapter examines the core processes that are used in the General Ledger module. We 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.
Transaction Flowchart.
Journal Transaction Entry.
Post Transactions.
Viewing Results.
Identify the basic processes required to create a Journal Transaction.
Understand the Release function.
Understand the purpose of posting transactions to accounts.
View the results of transactions.
Chapter 3: Maintaining Accounts and Subaccounts
This chapter examines the setup of accounts and subaccounts. We describe the information required for accounts, discuss the FlexKey feature for subaccounts, and define accounts and subaccounts in the system. The FlexKey feature has different levels of validation and these are discussed in detail.
Procedures for Maintaining Accounts and Subaccounts.
Chart of Accounts Maintenance window.
Account Class Maintenance window.
Subaccount Maintenance.
FlexKey Table Maintenance.
Lab: Create New Account
Create a New Account in the Chart of Accounts.
Lab: Create New SubAccount
Define a new subaccount using subaccount segments.
Add new account numbers to the Chart of Accounts.
Add new subaccount segments and subaccounts.
Activate the Account/Subaccount Validation feature.
Define and use Account Classes.
Chapter 4: Journal Transaction Features
This chapter discusses the concept of batch entry and the fields and features of the Journal Transaction window. We examine the types of batches that can be entered in the Journal Transaction screen and the processes required to update account balances. You also learn to execute reports to verify information entered.
Procedures for Entering Journal Transactions.
Journal Transactions screen.
Deleting a Journal Transaction Batch.
Batch Status and Batch Handling Values.
Journal Transaction Reports.
Lab: Journal Transaction Entry
Enter an example transaction for a depreciation entry.
Enter an example transaction for a third party payroll entry.
Enter an example transaction for a prepaid expense.
Create Journal Transaction batches.
Differentiate the types of Journal Transaction batches.
Determine when to use each of the Batch Handling options.
Chapter 5: Releasing Batches
In this chapter, we examine the options for releasing batches. We review the two methods available for releasing batches; using the data entry window, or the Batch Release Process. We also discuss automatic batch control reports, the option to print them automatically, and how to re-print them.
Batch Release Screen.
Reprinting Batch Control Reports.
Lab: Release Batches
Use the Release Batches screen to release multiple Journal Transaction batches.
Decide when to use the Release GL Batches window versus releasing batches from the data entry window.
Understand the criteria for a batch to display in the Release GL Batches window.
Release batches using the Release GL Batches window.
Reprint individual batch control reports or ranges of batch control reports
Chapter 6: Posting Transactions
This chapter examines the Post Transactions process and its role in the accounting cycle. We review the processes used thus far and discuss the updating of account balances. We also discuss audit trail reports and the role the posting process has in updating these reports.
Procedures for Posting.
GL Transactions Unposted Report.
Post Transactions Window.
Audit Trail Reports.
Lab: Post Transactions
Use the Post Transactions process to update account balances.
Post batches of transactions using the Post Transactions window.
Decide which batches should be posted.
Use the available options to post only selected batches.
Chapter 7: Account Inquiry
The objective of this chapter is to examine the series of windows available for viewing account balances and drilling down to the transaction details. The Inquiry windows allow you to view account balances and compare to budgets without having to print financial statements or reports. Learn to view balances and drill down to the details of the transactions.
Account Summary Inquiry Windows.
Account History Window.
Lab: View General Ledger Account Details
Use the Account Summary Inquiry process to view account balances.
Lab: View Details from a Submodule
Drill down to details for a transaction originating in Accounts Payable.
View the balances of General Ledger accounts.
Drill down to the detail that constitutes an account balance.
Chapter 8: Manual and Recurring Batches
Learn to use the manual and recurring batch types to make repetitive journal entries efficient. This chapter explores the difference between the two types of batches and the particular situations in which each should be used.
Recurring Batches.
Generate Recurring Transactions.
Manual Batches.
Lab: Recurring Batch
Enter a Recurring batch and generate transactions.
Lab: Manual Batch
Create a Manual batch and use it to generate additional transactions.
Determine when to use the Manual and Recurring batch types.
Decide which batch type to use for transactions.
Create and maintain manual and recurring batches.
Chapter 9: Ledger Maintenance
In this lesson you learn to use ledgers to track multiple budgets and statistics for your accounts, enter transactions for the statistical ledgers and see how to use them in calculations in financial reports, and print standard reports for particular ledgers.
Procedures for creating and maintaining ledgers.
Ledger Maintenance Window.
Ledgers Report.
Lab: Ledger Maintenance
Create a new Ledger for tracking statistics.
Lab: Ledger Transactions
Enter journal transactions using a statistical ledger.
Create and maintain ledgers.
Understand how to use ledgers in data entry.
Use Ledgers in reporting.
Chapter 10: Budgets
In this chapter you learn to create simple budgets for reporting purposes and use the extended budgeting feature to create custom distribution types: 1) for seasonal work or 2) based on prior year actual or budget amounts.
Procedures for maintaining basic budgets.
Budget Maintenance Window.
Procedures for Maintaining Extended Budgets.
Budget Distribution Types.
Budget Version Maintenance.
Extended Budget Maintenance.
Budget Distribution.
Lab: Budget Maintenance
Create a simple budget in the Budget Maintenance window.
Lab: Extended Budget
Use the custom distribution types to create budgets for multiple accounts.
Create new budgets for General Ledger Accounts.
Use the Ledger ID to create multiple budgets.
Use Extended Budgeting to create budgets with user-defined distribution percentages.
Chapter 11: Allocation Journal Transactions
The objective of this chapter is to introduce the various ways that account balances can be allocated. You will complete examples and exercises using percentage allocation methods as well as allocations based on other balances, budgets, or statistics stored in ledgers.
Procedures for Account Allocations.
Allocation Methods.
Allocation Group Maintenance.
Generate Allocation Transactions.
Lab: Allocation Group
Create an Allocation Group to redistribute an expense.
Lab: Allocation with Budgets
Create an Allocation Group using a Budget Ledger.
Lab: Allocation Based on Actuals with Contra Accounts
Create an Allocation Group using Actual balances and posting to contra accounts.
Understand how to use Allocation methods.
Define Allocation Groups.
Process Allocation transactions.
Chapter 12: Month End and Closing
This chapter teaches you to create a closing checklist to ensure all transactions and activities have been completed for the accounting period, produce appropriate audit trail reports, correct an out of balance condition, and close only the General Ledger or all modules for the period. We also discuss the detail retention and deletion options.
Balance the General Ledger.
Correct an Out of Balance Condition.
Close for the Month or Year.
Delete General Ledger Detail.
Perform General Ledger Integrity Check.
Understand Month-End processes and procedures.
Use the Adjustment Batch Type.
Decide when to close General Ledger for the period.
Execute the Closing process for all modules.
Delete detail for all modules.
Understand the GL Integrity Check and when to use it.
Chapter 13: Consolidation
This chapter discusses the consolidation process. You learn to take information from different databases with similar and differing periods, calendar years, and chart of account structures, and create a consolidated set of data for reporting purposes.
Procedures for performing Consolidations.
Assign Consolidation Accounts.
Generate Consolidation File.
Read consolidation File.
Decide when and if the Consolidation process is necessary.
Define Consolidation accounts.
Define Source and Destination databases.
Generate and Read the Consolidation File.
Appendix A: General Ledger Setup
Understand the defaults and user options defined in the General Ledger 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 screen.
General Ledger Setup Checklist.
General Ledger Implementation Worksheet.
Account/Subaccount Validation.
General Ledger Setup Screen.
Understand the decisions that need to be made prior to setting up the General Ledger module.
Understand the coding structure for accounts and subaccounts.
Decide whether to use the Account/Subaccount Validation feature.
Define options in the GL Setup screen to affect processing.
