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Microsoft Dynamics AX 2012 Financial Management

Book Description

An indispensable collection of tips, instructions, and examples, this book will enhance your financial management through the best use of Microsoft Dynamics AX. Covers both basic and advanced concepts.

  • Understand the financial management aspects in Microsoft Dynamics AX

  • Successfully configure and set up your software

  • Learn about real-life business requirements and their solutions

  • Get to know the tips and tricks you can utilize during analysis, design, deployment, and operation phases in a project lifecycle

  • In Detail

    Microsoft Dynamics AX software solutions for financial management give you a way to raise the visibility of financial metrics and increase the effectiveness of your financial management. With AX you can gain an insight into financial performance and plan strategically. You will be able to make informed decisions through the handling of revenue, payments, receipts, and cash flow. You can access real-time information across the organisation; Dynamics AX has easy-to use inquiry tools, plus powerful analysis and reporting capabilities.

    Throughout the course of a Microsoft Dynamics AX implementation, you may need advice on how to best utilize the software to meet your specific business needs. Microsoft Dynamics AX 2012 Financial Management is a complete solution to all of your implementation queries, and it shows you how to fully utilize Dynamics AX to suit your specific financial management needs.

    This book is a practical guide that aims to give you a comprehensive insight into financial management using Microsoft Dynamics AX.

    Throughout this book, you will find discussions of the functionality provided by Dynamics AX as well as basic setups, configurations, integration points, and controls. This book covers opening balances migration best practices, closing procedures, and bank reconciliation, which are common topics that arise during the implementation of any project.

    You will also learn about cash flow models and transactions, inventory costing models, the DAX costing mechanism, and financial dimension business values to ensure the accuracy of data entry and to monitor company performance through reporting and analysis.

    Table of Contents

    1. Microsoft Dynamics AX 2012 Financial Management
      1. Table of Contents
      2. Microsoft Dynamics AX 2012 Financial Management
      3. Credits
      4. About the Author
      5. Acknowledgments
      6. About the Reviewers
        1. Support files, eBooks, discount offers and more
          1. Why Subscribe?
          2. Free Access for Packt account holders
          3. Instant Updates on New Packt Books
      8. Preface
        1. What this book covers
        2. What you need for this book
        3. Who this book is for
        4. Conventions
        5. Reader feedback
        6. Customer support
          1. Errata
          2. Piracy
          3. Questions
      9. 1. Understanding the General Ledger
        1. Understanding the chart of accounts
          1. Classifying main accounts
            1. Using transactional accounts
              1. Balance accounts
              2. Profit and loss accounts
            2. Using nontransactional accounts
              1. Totals
              2. Reporting
          2. Main account categories
          3. Controlling the main accounts
            1. Debit/credit controls
              1. Debit/credit proposal
              2. Debit/credit requirements
              3. Balance control
            2. Using account administration
              1. Do not allow manual entry
              2. Activation date
              3. Suspending account
            3. Using posting validation
              1. Currency control
              2. User control
              3. Posting type
        2. Understanding shared financial data
        3. Understanding financial management in action
          1. Opening balance
            1. Opening balance best practices
            2. Planning and designing
              1. Execution
            3. Validation
          2. Performing daily transactions
            1. The account alias
            2. Recurring entries
            3. Saving a voucher
          3. Closing procedure
        4. Summary
      10. 2. Understanding Cash and Bank Management
        1. Understanding cash and bank integration
        2. Controlling cash and bank management
          1. Credit limit
          2. Date activation
          3. Status activation
          4. General ledger reconciliation
          5. Transaction currency
        3. Exploring cash and bank management in action
          1. Bank account reconciliation
        4. Summary
      11. 3. Functioning of Cash Flow Management
        1. Understanding cash flow integration with other modules
        2. Cash flow forecast configuration
          1. Accounts payable
          2. Accounts receivable
          3. Budget
          4. General ledger
        3. Cash flow transactions
          1. Purchase order cash flow forecast
          2. Cash flow forecast by currency requirement
          3. Main account cash flow forecast
        4. Summary
      12. 4. Working with Cost Management
        1. Understanding the business costing model
        2. Configuring inventory costing
          1. Item model group
          2. Product dimension groups
          3. Storage dimension groups
          4. Tracking dimension groups
          5. Item groups
        3. Exploring the inventory costing background
          1. Physical and financial updates
            1. Physical update
            2. Financial update
        4. Understanding inventory recalculation and closing
        5. Working with inventory marking
        6. Summary
      13. 5. Exploring Financial Dimensions
        1. Understanding the financial dimension concept
        2. Understanding the ledger account segmentation
          1. Segmented ledger accounts
          2. Financial dimensions entry
            1. Financial dimension's posting mechanism in transaction documents
            2. Creating financial dimensions
            3. Account structure configuration
        3. Posting types in Microsoft Dynamics AX
          1. The posting profile concept
          2. Journal posting
        4. Exploring dimension reporting
          1. Financial dimension sets
        5. Summary
      14. 6. Exploring Financial Reporting and Analysis
        1. Planning reporting needs for ERP
        2. Understanding the information technology value chain
          1. Infrastructure
          2. Database management
          3. Business processes
          4. Business Intelligence
          5. Frontend
        3. Understanding Microsoft Dynamics AX information source blocks
          1. Detailed transactions block
          2. Business Intelligence block
          3. Executive decisions block
        4. Discovering Microsoft Dynamics AX reporting options
          1. Reporting options
            1. Inquiry forms
            2. SSRS reports
              1. Original transaction
              2. Original document
            3. Audit trail
          2. Reporting currency
          3. Autoreports
        5. Summary
      15. Index