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Accounting Software
Great Plains 7.5 General Ledger I
Course Description


Introduction
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The one-day Microsoft Business Solutions Great Plains General Ledger course explores the accounting cycle and the processes required to enter financial data into the system. As well, this course will show you how to perform additional functions such as account reconciliation, budgeting, allocation, period-end and year-end closing procedures.

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. 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 reporting options


Course Objectives:

  • Customize General Ledger settings
  • Set up a chart of accounts including: posting, unit and allocation accounts
  • Enter and post transactions using transaction or batch posting methods
  • Perform key inquiries and print reports in Great Plains
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Course Outline

Lesson 1: Introduction

  • General Ledger Features and Benefits
  • General Ledger Overview and Roadmap
  • Integration

Lesson 2: Setup Procedures

  • General Ledger Setup Checklist
  • Company and Posting Setup Procedures
  • General Ledger Setup
  • Account Categories
  • Posting Accounts Setup
  • Unit Accounts Setup
  • Fixed Allocation Account Setup
  • Variable Allocation Account Setup
  • Mass Modify Chart of Accounts
  • Account Segment Setup
  • Retained Earnings Account Setup
  • Setting up Budgets
  • Excel-based Budgeting
  • Budget Maintenance
  • Quick Journal Setup
  • Transaction Matching Setup
  • General Ledger Setup Reports
  • Entering Beginning Balances

Lesson 3: Daily Procedures

  • Transaction Entry Overview
  • Standard and Reversing Transactions
  • Batch Entry
  • Calculate Taxes in General Ledger
  • Post Transaction
  • Clearing Transactions
  • Quick Journal Entries
  • Linking Transactions
  • Batch Recovery

Lesson 4: Intercompany

  • Intercompany Processing overview
  • Defining Intercompany relationships
  • Entering General Ledger Intercompany Transactions
  • Posting Intercompany Transactions in the Destination Company
  • Viewing the Intercompany Transactions in Inquiry

Lesson 5: Organizational Structures

  • Organization Structures Overview
  • Defining Components of the Organization
  • 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
  • Activate Account Security

Lesson 6: Maintaining Records

  • Correcting a Posted Transaction
  • Change and Delete Account Records
  • Remove History
  • Archive Matched Transactions
  • Reconcile
  • Retrieve Information
  • Creating Report Options
  • Creating and Printing Report Groups

Lesson 7: Period-End Procedures

  • Period-end Checklist
  • Printing Financial Statements and Reports
  • Consolidating a Period
  • Closing the Fiscal Period
  • Year-end Closing Checklist
  • Year-end Closing

 Lesson 8: Multidimensional Analysis

  • Setting up Analysis Groups and Codes
  • Assigning Analysis Groups to Accounts
  • Entering Transactions using Multidimensional Analysis
  • Performing Multidimensional Analysis inquiries
  • Analysis Reports

Lesson 9: Financial Statement Formatting

  • Types of Quick Financial Statements
  • Defining the layout
  • Printing Options for Quick Financial statements
  • Advanced Financial Analysis Overview
  • Using the Accelerator File
  • AFA Printing Features

Lesson 10: Conclusion

  • Posting accounts must be assigned to Account Categories
  • Unit Accounts track non-financial information
  • Fixed and Variable allocation accounts may be used to allocate expenses to a department or division based on percentages or breakdown account balances
  • Reversing and clearing transaction help speed data entry by automating these processes
  • Budgets may be created using the Budget Wizard in Great Plains and exported or imported to Microsoft Excel
  • Quick Journals provide a template for entering journal entries
  • Recurring batches may be used for transactions that occur frequently, such as monthly
  • Inquiries provide users with an excellent tool for tracing transactions back to the source document
  • Quick Financial statements are easy to customize and are based on account categories
  • Intercompany Processing allows you to record intercompany transactions quickly and easily
  • The year end process automates the clearing of profit and loss accounts to retained earning and brings the balance sheet accounts forward
  • Several tools, such as: Transaction Matching, Account Rollup Inquiry and Organizational Structures are provided to help customize Great Plains to meet your business needs

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