[Note-in Microsoft Dynamics GP – All versions available]
COURSE DESCRIPTION
This course explores the accounting cycle and the processes required to enter financial data into the system. It covers how to set up general ledger accounts, enter general ledger transactions, and post the transactions. This course also shows how to perform additional functions such as account reconciliation, budgeting, allocation, period-end procedures and year-end closing procedures.
WHO SHOULD ATTEND
This course is intended for customers and partners that want to learn the basic features and understand the typical day-to-day procedures of General Ledger. The class is targeted toward data entry clerks, administrators, office managers, CEOs, accountants, and consultants who need to understand the technical aspects of Microsoft Dynamics GP General Ledger and understand how to use it in accordance with the rest of the system.
WHAT YOU’LL LEARN
- Customize General Ledger settings
- Set up a chart of accounts including posting, unit and allocation accounts
- Enter and post transactions using transactional or batch posting methods
- Perform key inquiries and print reports in General Ledger
- Maintain records in General Ledger
- Print financial statements and other key reports to manage a business
- Complete period and year-end procedures
COURSE OUTLINE
Module 1: Overview and Setup
This module provides a general overview of the features and benefits of using General Ledger in an integrated environment and focuses on how General Ledger integrates with other functional areas in the Microsoft Dynamics GP application. This module also focuses on the setup procedures and different types of accounts in General Ledger and how to define budgets for accounts using Microsoft Dynamics GP or Microsoft Excel.
Lessons
- Features and Benefits
- General Ledger Setup
- Account Categories
- Posting Account Setup
- Unit Account Setup
- Fixed Allocation Account Setup
- Variable Allocation Account Setup
- Account Segment Setup
- Mass Modify Chart of Accounts
- Define the Retained Earnings Account
- Set Up Budgets
- Budget Maintenance
- Combining Budgets
- Quick Journal Setup
- Transaction Matching Setup
- Entering Beginning Balances
Module 2: Daily Procedures
This module defines the ways that transactions can be entered and posted in General Ledger. It explores the difference between transaction level and batch level posting and the methods for posting batches. It also demonstrates how to use clearing entries to transfer the balance of an account that is no longer being used to another account.
Lessons
- Batch Entry
- Transaction Entry
- Calculate Taxes in General Ledger
- Clearing Transaction Entry
- Budget Transaction Entry
- Quick Journal Entry
- Linking Transactions
- Batch Recovery
Module 3: Additional Functionality
This module examines how to use Multidimensional Analysis, Intercompany functionality and set up Organizational Structures to use account security.
Lessons
- Multidimensional Analysis Groups and Codes
- Assign Analysis Groups to Accounts
- Multidimensional Analysis Transactions
- Define Intercompany Relationships
- Entering Intercompany Transactions
- Organizational Structures Setup
- Define Organizational Relationships
- Assign User Classes to the Organizational Structure
- Assign Users to the Organizational Structure
- Assign a Range of Accounts to the Organizational Structure
- Assign an Individual Account to the Organizational Structure
- Activating Account Security
Module 4: Maintaining Records
This module examines the functionality available to maintain General Ledger records. There is a lesson that focuses on correcting posted entries as well as changing and deleting account records. Information about the reconcile features in General Ledger are discussed, including the capability of reconciling to other sub-ledgers. Inquiries and reports are also discussed in this module.
Lessons
- Correcting a Posted Transaction
- Change, Inactivate, and Delete Account Records
- Reconcile
- Reconcile to GL
- Remove History
- Archive Matched Transactions
- Account Rollups
- Using Inquiries
- Report Options and Printing
- Report Groups
- Report List
Module 5: Period-End Closing
This module examines the process of closing an accounting period and the fiscal year. The steps necessary to complete each phase of the closing process are discussed for the end of a period as well as a fiscal year. The module also looks at financial statements typically printed at the end of periods. Time is spent examining what actually takes place during the closing process and the two approaches that an organization may use for this process.
Lessons
- Period-End Closing
- Year-End Closing
- Quick Financial Statements
- Printing Financial Statements
- Advanced Financial Analysis
Labs
Lab: Enter a Posting Account
Lab: Enter a Unit Account
Lab: Enter a Fixed Allocation Account
Lab: Enter a Variable Allocation Account
Lab: Account Segment Setup
Lab: Mass Modify Chart of Accounts
Lab: Create a Blank Budget in Excel
Lab: Importing a Budget from Excel
Lab: Quick Journal Setup
Lab: Transaction Entry, Unit Accounts
Lab: Transaction Entry, Allocation Accounts
Lab: Transaction Entry, Recurring Transactions
Lab: Clearing Entry
Lab: Budget Transaction Entry
Lab: Quick Journal Entry
Lab: Multidimensional Analysis
Lab: Organizational Structure Setup
Lab: Organizational Tree Setup
Lab: Organizational Structure, User Setup
Lab: Organizational Structure, Mass Assignment
Lab: Quick Financial Setup
Lab: Quick Financial, Report Options