Chapter 1: General Ledger Setup Procedures

This chapter focuses on the setup procedures for the General Ledger module. We will examine how to customize account categories and the posting setup to streamline the data entry process. A big focus of this chapter is the use of fixed and variable allocation accounts and how clearing entries may be used to show details of the in and out entries involved in the allocation.

Main Topics

• General Ledger Setup

• Account Categories

• Posting Setup

• Fixed Allocation Account Setup

• Variable Allocation Accounts

• Allocation Account Alternatives

Lab: Financial Posting Setup

• Activate batch approval process

• Enter and post journal entry batch

Lab: Fixed Allocation Account

• Set up a Fixed Allocation Account

• Enter and post transaction for allocation account

• Perform inquiry to verify allocation

Lab: Variable Allocation Account

• Set up a Variable Allocation Account

• Enter and post transaction for allocation account

• Perform inquiry to verify allocation

Lab: Allocation Account Alternative

• Create fixed allocation account

• Create posting account

• Enter and post transaction

• Enter Clearing Entry

• Perform inquiry to verify entries

After completing this chapter, students will be able to:

• Set up the basic information for General Ledger.

• Customize Account Categories to meet the needs of your company.

• Configure Posting Setup for General Ledger.

• Set up and use Fixed Allocation accounts to distribute percentages of a single transaction among several distribution accounts.

• Set up and use Variable Allocation accounts to distribute percentages of a single transaction among several distribution accounts based on the relative balances of other posting or unit accounts.

• Use Clearing Entries in combination with variable allocation accounts to track the details of the allocation in General Ledger.

Chapter 2: General Ledger Data Flow

This chapter focuses on how data flows from the Work to Open to History tables as transactions are posted and year end procedures are performed. We will discuss the mechanisms used to identify the source and status for all documents in the system. How to retrieve information using the "zoom" feature instead of printing reports is covered in this section.

Main Topics

• Integration

• General Ledger Document Status

• Transaction Flow

• Source Document Setup

• Audit Trail Codes Setup

• Tracing Transactions

Lab: Tracing Transactions

• Enter and post accrual transaction

• Use zoom to verify transaction reversal

After completing this chapter, students will be able to:

• Understand how data flows from Work to Open to History tables.

• Set up Source Document IDs.

• Set up Audit Trail Codes.

• Trace transactions using Zooms.

Chapter 3: General Ledger Advanced Functionality

In this chapter we will discuss the advanced functionality that is available in General Ledger. Multidimensional Analysis provides increased reporting and analysis capabilities without expanding your chart of accounts. Excel-Based Budgeting enables budgets to be created in Microsoft Dynamics GP or Microsoft Excel and then exported and imported between the two applications. Another focus of this section is Intercompany processing which allows transactions to be posted in one company that affect other companies in the organization. Finally, Organizational Structures and activating Account Level Security for users, user classes, and accounts is discussed in detail in this chapter.

Main Topics

• Multidimensional Analysis Overview

• Setting up Analysis Groups and Codes

• Assigning Analysis Groups to Accounts

• Entering Transactions with Multidimensional Information

• Performing Multidimensional Analysis Inquiry

• Microsoft Excel-Based Budgeting Overview

• Creating a Budget with the Budget Wizard

• Exporting and Importing Budgets

• Intercompany Processing Overview

• Defining Intercompany Relationships

• Entering General Ledger Intercompany Transactions

• Post Intercompany Transactions in Destination Companies

• View the Intercompany Transaction in Inquiry

• Organizational Structures Overview

• Define 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

Lab: Multidimensional Analysis

• Create analysis group

• Create analysis codes

• Assign analysis group to accounts

• Enter and post transaction using Multidimensional Analysis

• Perform inquiry on analysis information

Lab: Create a Budget in Microsoft Excel

• Create a budget using the Budget Wizard for Microsoft Excel

Lab: Modifying a Budget in Microsoft Excel and Importing back to Microsoft Dynamics GP

• Update existing budget in Microsoft Excel

• Import the budget into Microsoft Dynamics GP

Lab: Intercompany Posting Account Setup

• Create intercompany posting accounts

• Enter and post an intercompany transaction

• Post intercompany transaction in destination company

Lab: Organizational Structure Setup

• Set up a company¢s organizational structure

• Set up the organization tree relationships

• Assign users to the organizational structure

• Assign Account Level Security

• Test the Account Level Security

After completing this chapter, students will be able to:

• Use Multidimensional Analysis to track additional information on account transactions.

• Use Microsoft Dynamics GP Budget for Microsoft Excel to create budgets and import or export into Microsoft Dynamics GP.

• Use Intercompany transactions to record transactions that involve two or more companies.

• Set up and use Organizational Structures.

Chapter 4: Maintaining Records

This chapter examines the functionality available to maintain your General Ledger 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 General Ledger history and the types of history information stored in the system.

Main Topics

• Correcting Transactions

• Posting to History

• Changing and Deleting Posting and Unit Accounts

• Changing and Deleting Allocation Accounts

• Remove History

Lab: Posting to History

• Verify setting for posting to history

• Post adjusting entries

Lab: Correcting Entry (Date and Amount Errors)

• Post journal entry

• Post correcting entry

• Use inquiry to verify entries are correct

After completing this chapter, students will be able to:

• Correct posted entries.

• Post transactions to History.

• Change and delete records.

• Remove General Ledger history.

Chapter 5: GL 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 will also look at exporting SmartList queries to Microsoft Excel or Microsoft Word.

Main Topics

• Inquiries

• SmartList

Lab: Inquiry: Drilldown to Originating Transaction

• Use Budget vs. Actual Inquiry window

• Drill down to source document

Lab: SmartList: Simple Chart of Accounts

• Create SmartList query

• Save query to Favorites

• Export query to Microsoft Excel

Lab: SmartList: A/R Reconciliation

• Create SmartList query

• Save query to Favorites

Lab: SmartList: Drilldown to Originating Transaction

• Create restriction for default query

• Drill down to original transaction

After completing this chapter, students will be able to:

• Perform Summary and Detailed inquiries for current and historical accounts.

• Perform inquiries on a specific journal entry.

• Perform inquiries on budget information.

• Use SmartList to perform queries on General Ledger data.

Chapter 6: General Ledger 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 and cross reference reports to analyze general ledger data.

Main Topics

• Creating Report Options

• Creating and Printing Report Groups

• Creating and Printing Combined Groups

• Cross Reference Reports

• Trial Balance Reports

Lab: Cross Reference Report by Audit Trail Code

• Enter and post journal entry

• Create a Cross Reference Report by Audit Trail Code

• Determine additional ways to get similar information

Lab: Trial Balance Report

• Create a Detailed Trial Balance Report

• Analyze report totals and reasons for incorrect totals

Lab: Using a Cross Reference Report to Analyze Information

• Print a cross-reference report

• Determine corrective action to complete reconciliation

After completing this chapter, students will be able to:

• Create report options.

• Create and print report groups.

• Create and print combined report groups.

• Print Cross-Reference reports.

• Print a Trial Balance Report.

Chapter 7: Period-End Procedures

This chapter examines the process of closing an accounting period. The steps necessary to complete each phase of the closing process are discussed in detail. We will look at the reports and financial statements that should be printed before performing the closing process. Time is spent examining what actually takes place during the closing process and how to use the Mass Close window to close specific transaction types while others remain open for a period.

Main Topics

• Period-end Closing Checklist

• Printing Financial Statements and Reports

• Consolidating a Period

• Closing the Fiscal Period

Lab: Period-end Closing

• Verify all transactions have been posted for the period

• Print financial statements

• Print Detailed Trial Balance

• Close the Fiscal Period

After completing this chapter, students will be able to:

• Complete the processes that are performed at the end of an accounting period.

• Consolidate periods and be aware of the effects of performing the consolidation process.

• Use the Mass Close option to close specific transaction origin types for a period.

Chapter 8: General Ledger Year-End Closing Procedures

This chapter examines the process of closing the fiscal year. The steps necessary to complete each phase of the closing process are discussed in detail. We will look at the reports and financial statements that should be printed before performing the closing process. Time is spent examining what actually takes place during the closing process and the two approaches that an organization may use for this process. Steps are provided in the event that the year end closing is performed and an account has been assigned the wrong posting type and is closed incorrectly.

Main Topics

• Overview

• Year-end Closing Checklist

• Post Adjusting Entries

• Verify Posting Type

• Year-end Closing

• Balance Sheet Accounts Set up as Profit and Loss Accounts

Lab: Year-end Closing

• Perform year-end closing routines in all other modules

• Verify all final adjustments have been posted

• Print an Account List

• Perform File Maintenance for the Financial Series

• Print the General Ledger Summary Trial Balance report

• Print Financial Statements

• Set up a new fiscal year

• Close the fiscal year

• Print Detailed Trial Balance and Financial Statements

• Close all Fiscal Periods

After completing this chapter, students will be able to:

• Complete the steps necessary to close a year in General Ledger.

• Set up a special period for posting adjusting entries.

• Set up posting for the closing entry to Divisional Retained Earnings accounts.

• Correct the situation where an account had the wrong posting type when the year end closing was performed.

Chapter 9: General Ledger Troubleshooting

This chapter will focus on techniques available for troubleshooting problems that may arise during posting or year-end processing. We will look at the automated fixes that are available on the Customer Source website and the Batch Recovery process for releasing "stuck" batches. A section of commonly asked questions about General Ledger transactions is included in this section.

Main Topics

• Posting Interruptions

• Automated Fixes

• Batch Recovery

• Reconcile

• One-sided Entries

• Year-end Closing Interruption

• Commonly Asked Questions

Lab: Reconcile Fiscal Periods

• Modify fiscal year starting and ending dates

• Reconcile fiscal years

• Verify account balances

Lab: Reconcile Posting Numbers

• Enable Posting Numbers

• Reconcile posting numbers

After completing this chapter, students will be able to:

• Properly recover data after a posting interruption.

• Use the Automated Fixes on Customer Source to correct common problems.

• Recover a batch that has become "stuck" in the system.

• Reconcile General Ledger account information.

• Create a "one-sided" entry to correct an error that occurred because of a posting interruption.

Chapter 10: Conclusion

In this chapter we will discuss the key points that have been covered throughout this course.

Main Topics

• Customize General Ledger posting settings

• Identify Work, Open, and History tables

• Use fixed and variable allocation accounts to distribute amounts to breakdown accounts during transaction entry

• Post transactions to a historical year and automatically adjust the balance of the retained earnings account or the beginning balance brought forward for an account

• Use the inquiry windows to view open, history, or net change activity for an account

• Use SmartList to access accounting data and export to Microsoft Word or Microsoft Excel

• Print cross reference reports to research transactions by various criteria

• Prevent transactions from being posted to a specific accounting period by marking it as closed

• Perform the year end closing process and retain the ability to post adjusting entries to the most recent historical year

• Create budgets in Microsoft Dynamics GP, export or import from Microsoft Excel

• Use Organizational structures to define the components of your organization and their relationship

• Record intercompany transactions that occur in one company and will create transactions in another company's General Ledger