Chapter 1: Setup Changes and Review
This chapter focuses on the setup procedures for the Payables Management module. We examine how to customize the posting setup and posting accounts to streamline the data entry process. This chapter focuses on the use of vendor classes and vendor class accounts to minimize the amount of information that has to be entered when setting up your vendors.
Main Topics
• Posting Setup
• Posting Acount Setup
• Payables Management Setup
• Payables Setup Options
• Vendor Class Setup
• Vendor Class Accounts Setup
Lab: Test Posting Settings
• Modify existing Posting Setup
• Enter and post transaction batch
Lab: Posting to a Closed Period
• Verify Financial Series is closed
• Modify Posting Setup
• Enter and post vendor invoice
• Verify posting updated Payables Management and General Ledger
Lab: Setup Changes
• Modify Payables Management Setup selections
Lab: Vendor Class Setup Changes
• Modify Vendor Class selections
After completing this chapter, students should be able to:
• Modify posting settings for Payables Management
• Enter default posting accounts
• Modify Payables Management Setup selections
• Create and modify Vendor Classes
• Enter Vendor Class Accounts
Chapter 2: Transaction Flow
This chapter focuses on how data flows from the Work to Open to History tables as transactions are posted. This chapter focuses on the tables that are updated as data is processed for transactions and computer checks in Payables Management. We will also discuss the integration of all modules in the Microsoft Great Plains system.
Main Topics
• Integration
• Payables Management Document Status
• Payables Management Transaction Entry Flow
• Payables Management Computer Checks Transaction Flow
• Tracing Transactions
Lab: Tracing Transactions
• Modify posting settings
• Create new vendor record
• Enter and post transaction
• Perform the inquiry
• Print the report to the screen
After completing this chapter, students should be able to:
• Understand how data flows from Work to Open to History tables
• Trace transactions using Zooms
Chapter 3: Advanced Functionality
In this chapter we discuss the advanced functionality that is available in Payables Management. Multidimensional Analysis provides increased reporting and analysis capabilities without expanding your chart of accounts. Another focus of this section is Intercompany processing which allows transactions to be posted in one company and affect other companies in the organization. Finally, processing manual and computer checks, along with "Zero-dollar" checks is discussed in detail in this chapter.
Main Topics
• Scheduled Payments
• Multidimensional Analysis
• Intercompany Processing
• Define Intercompany Relationships
• Enter Payables Management Intercompany Transactions
• Post Intercompany Transactions in Destination Companies
• Processing Computer Check Prepayments
• Enter Manual Payments
• "Zero-dollar" checks
• Adding Checks to an existing Computer Check batch
Lab: Scheduled Payments
• Create a payment schedule for an invoice
• Post all invoices for the schedule
• Print an Aged Trial Balance report
Lab: Multidimensional Analysis
• Enter vendor invoice
• Use analysis code to allocate the invoice amount
• Print posting journals
Lab: Intercompany Transactions
• Enter and post an intercompany transaction
• Post transaction in destination company
Lab: Computer Checks
• Create a computer check batch
• Manually add payments to existing batch
• Remove vendor from check batch
• Print and reprint checks
• Void checks
• Post checks
Lab: Manual Payments
• Enter and post payment for vendor invoice
Lab: Prepayments
• Create payables check batch
• Create the prepayment
• Print and post prepayment
Lab: "Zero-dollar" checks
• Create check batch
• Print checks
• Process the check batch
• Print the remittance form
• Print and post checks
Lab: Add to Batch
• Select computer check batch
• Add additional vendor to existing batch
• Print transaction edit list
After completing this chapter, students should be able to:
• Enter and post Scheduled Payments
• Use Multidimensional Analysis information for payables transactions
• Enter Intercompany payables transactions
• Add transactions to existing computer check batches
• Enter "Zero dollar" checks
• Enter Prepayments
Chapter 4: Maintaining Records
This chapter examines the functionality available to maintain your Payables Management records. There is also a section that focuses on correcting posted entries as well as changing and deleting records. Time is also spent discussing how to remove Payables Management history and the types of history information stored in the system.
Main Topics
• Editing Transaction Information
• Void Open Payables Transactions
• Void Historical Transactions
• Voiding Posted Payment Schedules
• Voiding Intercompany Transactions in Payables Management
• Change and Delete Vendors
• Remove History
• Reconcile
Lab: Editing Transaction Information
• Edit Payment Terms information for vendor invoice
• Edit Due Date information for vendor invoice
Lab: Void an Open Transaction
• Void vendor invoice
• Verify invoice has been voided
Lab: Void a Historical Transaction
• Void vendor invoice
• Verify invoice has been voided
Lab: Delete a Vendor
• Delete vendor record
After completing this chapter, students should be able to:
• Correct posted entries
• Void Open and Historical transactions
• Void Posted Payment Schedules
• Void Intercompany transactions in Payables Management
• Change and delete Vendors
• Remove Payables Management history
• Run the Reconcile utility
Chapter 5: Inquiry and SmartList
This chapter focuses on the multiple methods for quick and easy information retrieval. The Inquiry and SmartList functions provide numerous ways to instantly view relevant summary and detail information about account activity and transactions. We'll also look at exporting SmartList queries to Microsoft( Excel or to Microsoft( Word.
Main Topics
• Inquiries
• SmartList
Lab: Tracing Transactions
• Use Trx by Vendor Inquiry window
• Drill down to source document
Lab: SmartList
• Create SmartList query
• Export query to Excel
• Print Payables Summary Aged Trial Balance report
After completing this chapter, students should be able to:
• Perform Summary and Detailed inquiries for current and historical accounts
• Use SmartList to perform queries on Payables Management data
• Use SmartList to export data to Microsoft Excel
Chapter 6: Reports
This chapter focuses on how to create report options which may be grouped together to print multiple reports within a series or combined to print reports containing data from multiple series to maximize reporting capabilities for your financial data. Reports can be very useful in locating discrepancies that need to be corrected. Time is spent discussing how to utilize the trial balance reports to analyze Payables Management data.
Main Topics
• Creating Report Options
• Creating and Printing Report Groups
• Analyzing Payables Reports
Lab: Aged Trial Balance with Options
• Print the Payables Summary Aged Trial Balance with Options report
Lab: Report Groups
• Set up report option
• Create a report group
After completing this chapter, students should be able to:
• Create and modify report options
• Create and print report groups
• Print Trial Balance Reports
Chapter 7: Period-End Procedures
This chapter examines the process of closing an accounting period for Payables Management. The steps necessary to complete each phase of the closing process are discussed in detail. We look at the reports that should be printed before performing the closing process and the steps to reconcile to General Ledger. Time is spent examining what actually takes place during the closing process and how to close the fiscal period to prevent additional transactions from being posted to a period.
Main Topics
• Period-end Closing Checklist
• Reconcile Payables Management to General Ledger
• Close Fiscal Period
Lab: Period Closing
• Perform the month end procedures
• Reconcile Payables Management to General Ledger
After completing this chapter, students should be able to:
• Complete the processes that are performed at the end of an accounting period
• Printing period-end reports
• Perform account reconciliation
• Close fiscal periods
Chapter 8: Year-End Procedures
This chapter examines the process of closing the year. The steps necessary to complete each phase of the closing process are discussed in detail. Time is spent examining 1099 reports, how to reconcile the amounts and print the statements. Steps are provided for closing the calendar and fiscal year in Payables Management and the Sales Tax Periods for the year.
Main Topics
• Calendar Year-End Closing Checklist
• Reconcile 1099 Vendor Amounts
• Print 1099
• Fiscal Year-end Closing Checklist
• Close Fiscal Periods
• Tax Year End Close
• Payables Management Year-End Common Questions and Answers
Lab: Year-end Closing
• Post all transactions for the period
• Perform calendar year-end closing procedure
• Reconcile and print 1099 statements
• Perform fiscal year-end closing procedure
• Close the sales tax periods for the year
After completing this chapter, students should be able to:
• Reconcile 1099 amounts
• Print 1099 statements
• Perform calendar and fiscal year-end closing procedures
• Close the sales tax periods
Chapter 9: Tips and Troubleshooting
This chapter focuses on techniques available for troubleshooting problems that may arise during posting or year-end processing. We look at the Batch Recovery process for releasing "stuck" batches and how to recreate the PM Key Master file. A section of commonly asked questions about Payables Management transactions is included in this section.
Main Topics
• Batch Recovery
• Posting Interruptions
• Interruptions to the check printing process
• Understanding Error Messages
• Payables Management Commonly Asked Questions
Lab: Releasing a Payables Batch stuck in posting status
• Verify batch status
• Run SQL query in Query Analyzer
• Verify batch transactions
• Post the batch
Lab: Recreating the PM Key Master File
• Run SQL statement
• Perform Check Links process
• Print error log
Lab: Distribution Errors
• Enter vendor invoice
• Modify distributions
• Troubleshoot warning message
• Post transaction
After completing this chapter, students should be able to:
• Recover a batch that has become "stuck" in the system
• Understand error messages
• Rebuild the PM Key Master file
• Use troubleshooting tips and techniques
Chapter 10: Conclusion
In this chapter we discuss the key points that have been covered throughout this course.
Main Topics
• How to trace transactions
• How to create Scheduled Payments
• How to enter Multidimensional Analysis information through Payables Management transactions
• How to enter Intercompany transactions through Payables Management
• How to use Advanced Check Processing features
• How to void transactions
• Ho to edit posted transactions
• How to query data using Inquiry, Reports, and SmartList
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