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Microsoft Dynamics AX 2012 R3 Financial Management

Book Description

Boost your accounting and financial skills with Microsoft Dynamics AX 2012 R3

In Detail

Microsoft Dynamics AX is a rapidly growing application and is widely used in enterprise organizations. Because of its ability to maximize business productivity, Microsoft Dynamics AX is one of the fastest-rising business application packages in the ERP market.

We will start by looking into ERP concepts, implementation needs, and interface design, giving you basic knowledge of financial management aspects and explaining key concepts along the way. We will tackle each topic with focused examples and explanations in areas such as general ledgers, accounts payable, accounts receivable, fixed assets, forecasting, cash and bank management, financial dimensions, and financial reporting.

By the end of this book, you will have a much richer understanding of Microsoft Dynamics AX 2012 R3 and its empowering capabilities.

What You Will Learn

  • Examine the business logic behind the financial functionalities of Microsoft Dynamics AX 2012 R3

  • Set up and configure the core modules of financial management

  • Grasp the key control points of financial management

  • Plan and execute an opening balance migration

  • Implement the monthly- and year-end closing procedures

  • Explore the basic cycles and module integrations

  • Discover and implement the inventory costing mechanism

  • Use Microsoft Dynamics AX to create financial reports

  • Downloading the example code for this book. You can download the example code files for all Packt books you have purchased from your account at http://www.PacktPub.com. If you purchased this book elsewhere, you can visit http://www.PacktPub.com/support and register to have the files e-mailed directly to you.

    Table of Contents

    1. Microsoft Dynamics AX 2012 R3 Financial Management
      1. Table of Contents
      2. Microsoft Dynamics AX 2012 R3 Financial Management
      3. Credits
      4. About the Author
      5. Acknowledgments
      6. About the Reviewers
      7. www.PacktPub.com
        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. Getting Started with Microsoft Dynamics AX 2012
        1. Understanding the ERP characteristics
        2. Discovering the implementation team
          1. Responsibilities and motivation of an ERP consultant
        3. Exploring key intentions of ERP implementations
        4. Understanding the ERP module's integration
          1. Accounts payable
            1. Product receipt
            2. Invoice
            3. Payment
            4. Settlement
          2. Accounts receivable
            1. Packing slip
            2. Invoice
            3. Collection
            4. Settlement
        5. Exploring ERP and reporting
        6. Posting types in Microsoft Dynamics AX
        7. Exploring the common terms in ERP implementations
        8. Exploring Microsoft Dynamics Implementation Methodology – Sure Step
        9. Exploring Microsoft Dynamics Lifecycle Services
        10. Looking at Microsoft Dynamics AX user Interface
        11. Summary
      10. 2. 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 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. Exploring the sales tax mechanism
          1. Withholding tax
        4. Understanding financial management in action
          1. Opening balance
            1. Best practices of uploading opening balances
            2. Planning and designing
              1. Execution
            3. Validation
          2. Performing daily transactions
            1. The account alias
            2. Recurring entries
          3. Saving a voucher
        5. Closing procedure
        6. Summary
      11. 3. 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
          2. Bank facility – letter of guarantee
        4. Summary
      12. 4. Understanding Accounts Payable
        1. Understanding accounts payable integration with other modules
        2. Exploring vendor master data characteristics
          1. The General fast tab
          2. The Purchasing demographics fast tab
          3. Invoice and delivery fast tab
          4. The Invoice field group
          5. The Sales tax field group
          6. The Withholding tax field group
          7. The Discount field group
          8. Vendor price/discount groups
          9. The Payment fast tab
          10. Terms of payment
          11. Method of payment
          12. Payment schedule
          13. Cash discount
        3. Exploring accounts payable controls
          1. Vendor hold activities
          2. Invoice matching controls
          3. Invoice matching
          4. Price tolerance
          5. The invoice number
          6. The Posting profile
        4. Exploring accounts payable transactions
          1. The purchase order invoice
          2. The prepayment invoice
          3. Vendor settlement
          4. The vendor settlement mechanism in Microsoft Dynamics AX
        5. Summary
      13. 5. Understanding Accounts Receivable
        1. Understanding the Accounts receivable module's integration with other modules
        2. Exploring customer master data characteristics
          1. The Sales order defaults fast tab
            1. The Discount field group
          2. Customer price or discount groups
            1. The Payment fast tab
            2. Terms of payment
          3. Method of payment
            1. Payment specification
            2. Payment schedule
          4. Cash discount
            1. The Invoice and delivery fast tab
            2. The Invoice field group
            3. The Sales tax field group
        3. Exploring Accounts receivable controls
          1. Customer hold activities
          2. Customer credit limit management
        4. Exploring Accounts receivable transactions
          1. Sales order invoice
          2. Free text invoice
          3. Free text correction
          4. Customer settlement
          5. Customer settlement mechanism – Dynamics AX
        5. Summary
      14. 6. Exploring Fixed Assets
        1. Understanding fixed assets integration with other modules
        2. Exploring fixed assets master data characteristics
          1. The depreciation profile
          2. The depreciation method
          3. Constant fields
          4. Dynamic fields
          5. The value model
          6. Fixed asset groups
          7. Fixed assets
        3. Exploring fixed assets transactions
        4. Fixed asset disposal sale
        5. Summary
      15. 7. 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
      16. 8. 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
          2. Physical update
          3. Financial update
        4. Understanding inventory recalculation and closing
        5. Working with inventory marking
        6. Exploring inventory reconciliation
          1. Inventory value report setup
          2. Inventory value report generation
        7. Summary
      17. 9. Exploring Financial Dimensions
        1. Understanding the concept of financial dimensions
        2. Understanding the ledger account segmentation
          1. Segmented ledger accounts
          2. Financial dimensions entry
            1. Creating financial dimensions
            2. Configuring the account structure
        3. Advanced rules structure
        4. Fixed dimension
        5. Posting types in Microsoft Dynamics AX
          1. The posting profile concept
          2. Journal posting
        6. Exploring dimension reporting
          1. Financial dimension sets
        7. Summary
      18. 10. 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
          1. Reporting options
            1. Inquiry forms
            2. SSRS reports
              1. The original transaction
              2. The Original document function
              3. Audit trail
          2. Reporting currency
          3. Autoreports
          4. Microsoft Dynamics Management Reporter
        5. Summary
      19. Index