Course Objectives

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Module 1Financial Management Setup

Financial Management Setup - Overview

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Financial Management Setup - Review

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Module 2Chart of Accounts

Chart Of Accounts - Overview

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Chart Of Accounts - Review

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Module 3General Journals

General Journals - Overview

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Lesson 1: Creating and Posting Journal Entries

Journal Templates – General, Purchases, Sales, …

Journal Batches – Phyllis and Cassie

Journal Lines

Posting Preview

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Posting Preview

Journals Receivables Payables Service

General Journals

Recurring General Journal

IC General Journal

Job G/L Journal

Cash Receipt Journal

Fixed Asset G/L Journal

Sales Journal

Payment Journal

Purchase Journal

Fixed Asset Journal

Recurring Fixed Asset

Journal

Sales Invoice(s)

Sales Credit Memo(s)

Sales Order(s)

Sales Return Order(s)

Mini Sales Credit Memo(s)

Mini Sales Invoice(s)

Apply Customer Entries

UnapplyCustomer Entries

Purchase Invoice(s)

Purchase Credit Memo(s)

Purchase Order(s)

Purchase Return Order(s)

Mini Purchase Credit

Memo(s)

Mini Purchase Invoice(s)

Payment Registration

Apply Vendor Entries

UnapplyVendor Entries

Service Credit Memo(s)

Service Invoice(s)

Service Order(s)

Service Lines

Recurring Journals - Overview

Recurring Method Description

Fixed The amount on the journal line will remain after posting.

Variable The amount on the journal line will be deleted after posting.

Balance The posted amount on the account on the line will be allocated among the

accounts specified for the line in the Gen. Jnl. Allocation table. The balance on

the account will thus be set to zero.

This method should be used in combination with the allocation function.

Reversing Fixed The amount on the journal line will remain after posting, and a balancing entry

will be posted on the next day.

Reversing Variable The amount on the journal line will be deleted after posting, and a balancing

entry will be posted on the next day.

Reversing Balance he posted amount on the account on the line will be allocated among the

accounts specified for the line in the Gen. Jnl. Allocation table. The balance on

the account will thus be set to zero. A balancing entry is posted on the next

day.

Lesson 5: Deferrals

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General Journals - Review

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Module 4Cash Management - Receivables and Payables Management

Module - Overview

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Cash Receipt Journal and Payment Journal Overview

Bank Account Currency Code Bank Payment Type

= Computer Check or Manual

Check

Bank Payment Type = Blank

Blank (LCY) Checks are only printed for LCY

payment lines.

Only LCY payment lines post.

Payment lines with any currency

code including LCY post.

Currency Code Checks are only printed for payment

lines with the same currency code as

the bank account.

Only payment lines with the same

currency code as the bank account

post.

Only payment lines with the same

currency code as the bank

account post.

Processing Incoming and Outgoing Payments in Business Central

Incoming

payments

Initiated by

customer

Enter manually

Cash Receipt

JournalApply Manually

Payment

RegistrationApply Manually

Payment

Reconciliation

Apply Manually

Apply

Automatically

Import filePayment

Reconciliation

Apply Manually

Apply

Automatically

Initiated by usDirect Debit

Collections

Apply

Automatically

Processing Incoming and Outgoing Payments in Business Central

Outgoingpayments

Suggest VendorPayments

Pay by file

Pay by check

Pay by other

Enter manually

Pay by file

Pay by check

Pay by other

Post Payment Journal

Import ReconciliationJournal

Analyzing Receivables

Customer – 10000 The Cannon Group PLC

Customer Ledger Entries – Invoice LCY 1,000.00

Detailed Customer Ledger Entries

Initial Entry LCY 1,000.00

Application LCY -1,000.00

Reversal of Posted Journals

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Payment Registration

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Payment Registration - Scenarios

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SEPA Direct Debit Collections

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SEPA Direct Debit Collections - Scenarios

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Suggest Vendor Payments- Scenarios

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Check Management

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Payment Reconciliation - Overview

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Payment Reconciliation

Payment Reconciliation- Scenarios

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Payment Services

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Module - Review

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Module 5Cash Management – Bank

Reconciliations

Bank Reconciliations - Overview

Reconcile bank accounts in Microsoft Dynamics Business

Centralto statements received from the bank

• Bank transactions in Business Centralnot on bank statement

• Bank transactions on bank statement not in Business Central

• Difference

Bank Reconciliations - Scenarios

• Import Bank Statements

• Match Automatically

• Match and Unmatch Manually

• Posting the Bank Reconciliation

Module 6Receivables and Payables

Management: Customer and

Vendor Invoicing

Customer and Vendor Invoicing- Overview

• Invoicing options

• Invoicing customers

• Processing vendor invoices

• Correcting posted invoices

Invoicing Options

Invoicing

customers

Invoicing

shipments

One shipment Sales order

Multiple

shipments

Sales invoice

Combine

Shipments

Direct invoicing Manually Sales Invoice

Invoicing Options

Vendor invoices

Invoicing receipts

One receipt Purchae order

Multiple receipts Purchase invoice

Direct invoicing Manually Purchase Invoice

Correcting Posted Invoices

• Correct

• Cancel

• Create corrective credit memo

Module 7Receivables and Payables

Management: Payment Discount

and Payment Tolerance

Payment Discount and Payment Tolerance - Overview

• Set up Microsoft Dynamics Business Centralto use payment

discounts.

• Process transactions for various situations that benefit from

payment discounts.

• Set up Microsoft Dynamics Business Centralto use payment

discount tolerance.

• Process transactions for various situations that benefit from using

payment discount tolerance.

• Set up Microsoft Dynamics Business Centralto use payment

tolerance.

• Process transactions for various situations that benefit from using

payment tolerance.

Payment Discount Setup

Sales 1.000,00 Sales 1.000,00

Pmt. Disc 2% -20,00 VAT 25% +250,00

Subtotal 980,00 Subtotal 1.250,00

VAT 25% 245,00 Pmt. Disc 2% 25,00

Without pmt. Disc 1.245,00 Without pmt. Disc 1.250,00

With pmt. Disc 1.225,00 With Pmt. Disc 1.225,00

SetupGeneral Ledger Setup

• Pmt. Disc. Excl. VAT = Yes

• VAT Tolerance % = …%

Customer Posting Groups

• Payment Disc. Debit Acc.• Payment Disc. Credit Acc.

Vendor Posting Groups

• Payment Disc. Debit Acc.• Payment Disc. Credit Acc.

SetupGeneral Ledger Setup

• Pmt. Disc. Excl. VAT = No

• Adjust for Payment Disc.: No

Customer Posting Groups

• Payment Disc. Debit Acc.• Payment Disc. Credit Acc.

Vendor Posting Groups

• Payment Disc. Debit Acc.• Payment Disc. Credit Acc.

SetupGeneral Ledger Setup

• Pmt. Disc. Excl. VAT = No

• Adjust for Payment Disc.: Yes

General Posting Setup

• Sales Pmt. Disc. Debit & Credit Acc.• Purch. Pmt. Disc. Debit & Credit Acc.

VAT Posting Setup

• Adjust for Payment Disc.: Yes

Excluding VAT Including VAT

Payment Tolerance - Overview

In Microsoft Dynamics Business Central, there are two types

of payment tolerance:

• Payment Discount Tolerance: This takes a payment discount even

if the payment discount date has passed.

• Payment Tolerance: This accepts a slightly larger or smaller

amount as full settlement of an outstanding invoice.

Payment Discount and Payment Tolerance - Review

• Set up Microsoft Dynamics Business Centralto use payment

discounts.

• Process transactions for various situations that benefit from

payment discounts.

• Set up Microsoft Dynamics Business Centralto use payment

discount tolerance.

• Process transactions for various situations that benefit from using

payment discount tolerance.

• Set up Microsoft Dynamics Business Centralto use payment

tolerance.

• Process transactions for various situations that benefit from using

payment tolerance.

Module 8Receivables Management:

Reminders and Finance Charge

Memos

Reminders and Finance Charge Memos - Overview

• Set up and Assign Reminder Terms.

• Set Up and Assign Number Series for Reminders and

Issued Reminders.

• Create and Issue Reminders.

• Set Up and Assign Finance Charge Terms.

• Create and Issue Finance Charge Memos.

• Calculate Interest on Reminders.

Lesson 3: Create and Issue Reminders

• Create reminders:

• Automatically: Create Reminders batch job.

• Manually: fill in a header and use the Suggest Reminder Lines

batch job.

• Actual posting to the customer and G/L account:

• Post Additional Fee

• Post Interest

Module 9VAT

VAT - Overview

• Display VAT Amounts in Sales and Purchase Documents.

• Adjust VAT Amounts in Sales and Purchase Documents

and Journals.

• Unrealized VAT.

• VAT Statements.

• VAT Settlements.

Display VAT Amounts in Sales and Purchase Documents

Prices Including VAT check box is available on the:

• Customer Card

• Vendor Card

• Item Card

• Sales document header

• Purchase document header

Adjust VAT Amounts in Sales and Purchase Documents and Journals

Vendor Invoice

Amount Excl. VAT: 100,00

25% VAT: 24,99

Total 124,99

Business CentralPurchase

Invoice

Amount Excl. VAT: 100,00

25% VAT: 25,00

Total 125,00

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0,01

Lesson 4: Unrealized VAT

• General Ledger Setup

• Set up VAT Posting Setup with the Unrealized VAT Type:

• Percentage

• First

• Last

• First (Fully Paid)

• Last (Fully Paid)

• Set up VAT posting groups with unrealized VAT accounts

Lesson 6: VAT Settlement

The Post VAT Settlement batch job:

• Calculates VAT settlement of open VAT entries in previous

accounting periods.

• Finds all the VAT entries in the VAT Entry window -for every VAT

Posting Group combination - that is included in the filters in the

batch job.

• Can be used to start the posting process or to print a test

report.

• Can be run as frequently as needed.

VAT - Overview

• Display VAT Amounts in Sales and Purchase Documents.

• Adjust VAT Amounts in Sales and Purchase Documents

and Journals.

• Unrealized VAT.

• VAT Statements.

• VAT Settlements.

Module 10Prepayments

Prepayments - Overview

• Set up prepayments

• Assign Prepayment Percentages

• Prepayment Processing Flow

• Process Prepayment Sales and Purchase Orders

• Process Prepayment Sales and Purchase Invoices

• Correct Prepayments

Setup Prepayments

• General Posting Setup

• Set Up Unrealized VAT for Prepayments

• Set Up Number Series for Prepayment Documents

• Set Up Prepayments Verification

Assign Prepayment Percentages

Specific Items All Items

Customer

Customer Price

Group

All Customers

Vendors

Lesson 7: Prepayments Processing Flows

Typical process flow for prepayment sales orders:• Create a sales order with a prepayment requirement.

• Send a prepayment invoice for the prepayment amount to the

customer.

• The customer pays the prepayment amount.

• Apply the prepayment amount to the sales order.

• Ship the order to the customer.

• Create a sales invoice for the total amount of the sales order

minus the prepayment amount.

• Receive payment from the customer and post the payment to

the sales order.

Module 11Year End Closing Processes

Year End Closing Processes - Overview

• Closing a Fiscal Year

• Transferring Income Statement Account Balances

• Posting the Journal

Transferring Income Statement Account Balances

Include Dimensions

Account 8230 – Phone & Fax

Date Department

Debit Credit

24/01 SALES 500

12/09 ADM 450

C31/12 SALES 500

C31/12 ADM 450

Exclude Dimensions

Account 8230 – Phone & Fax

Date Department

Debit Credit

24/01 SALES 500

12/09 ADM 450

C31/12 950

Year End Closing Processes - Overview

• Closing a Fiscal Year

• Transferring Income Statement Account Balances

• Posting the Journal