The purpose of this chapter is to introduce you to the Accounts Receivable module of Microsoft Dynamics SL product and training course. This chapter introduces the windows and processes that are used to complete the accounting cycle in Accounts Receivable.

Also, it is important to note that this chapter is optional and can be skipped at the instructor's discretion. If the instructor feels that each student's background provides sufficient experience in these topic areas, then the instructor reserves the right to skip this chapter.

Main Topics

• Course Description.
• Module Overview.
• Accounts Receivable Process Flow.
• Other Features.

After completing this chapter, students will be able to:

• Understand the goals of this course.
• See how the Accounts Receivable module fits into the suite of available modules for the Microsoft Dynamics SL system.
• Follow the flow of transactions through Accounts Receivable.

This chapter examines the core processes that are used in the Accounts Receivable module. The purpose of this chapter is to introduce each step in the accounting cycle, briefly discuss its purpose, and primary features, and focus on its function in the accounting cycle. Please note that this chapter is not intended to provide you with a detailed primer on each of these topics.

This chapter is optional and can be skipped at the instructor's discretion. If the instructor feels that each student's background provides sufficient experience in these topic areas, then the instructor reserves the right to skip this chapter.

Main Topics

• Transaction Flowchart.
• Invoice Entry.
• Payment Entry.
• Viewing Results.

After completing this chapter, students will be able to:

• Identify the basic processes required to enter a customer invoice.
• Understand the purpose of the Payment Application process.
• View the results of transactions.

This chapter examines the setup of customers. The purpose of this chapter is to describe the information required to define a customer in the system. A customer must be defined before Accounts Receivable documents can be entered.

Main Topics

• Procedures for Maintaining Customers.
• Customer Maintenance window.
• Customer Class Maintenance window.
• Customer History window.

Lab: Customer Maintenance

• Create new customers.

After completing this chapter, students will be able to:

• Create and maintain customers.
• Define default values for customers.
• Understand the uses of the customer classes.
• View Customer Balances.

This chapter discusses the concept of batch entry. The fields and features of the Invoice and Memo window are discussed. This chapter examines the types of documents that can be entered in the Invoice and Memo window and the processes required to update customer balances. Execute reports to verify information entered. Use the Document Maintenance window to edit information after a batch is released.

Main Topics

• Procedures for Entering Invoices.
• Invoice and Memo Entry window.
• Debit and Credit Memo documents.
• Document Maintenance.
• Releasing Accounts Receivable documents.
• Accounts Receivable batch reports.

Lab: Invoice and Memo Entry

• Enter documents to issue invoices to customers.

Lab: Credit Memo Entry

• Issue a credit memo to a customer for unneeded goods.

Lab: Invoice and Memo Entry (Optional)

• Enter a batch of invoices with documents for various customers.

After completing this chapter, students will be able to:

• Create invoice, debit memo and credit memo documents.
• Edit documents for customers.

The objective of this chapter is to examine the series of windows available for viewing customer balances and drilling down to the transaction details. The Inquiry windows allow you to view customer balances and documents without having to print reports. Learn to view balances and drill down to the details of the transactions.

Main Topics

• Customer Inquiry Window.
• Customer Activity window.
• Documents Report.
• Customer History.

Lab: Customer Inquiry

• Use the Customer Inquiry window to view Accounts Receivable data

Lab: Customer Reports

• Use the Aged AR report to view customer data.

After completing this chapter, students will be able to:

• Perform customer inquiries.
• Locate customer documents.
• Drill down to document details.

The chapter explores the different ways that payments, prepayments, and credit memos are applied to invoices. The auto payment application process is discussed as well as the differences, advantages, and disadvantages among the different application methods.

Main Topics

• Payment Application Window.
• Payment Entry Window.
• Auto Payment Application Process.
• Payment Applications Report.

Lab: Payment Entry and Application

• Print the Cash Requirements report and select documents for payment processing.

Lab: Payment Entry and Application

• Enter a payment and immediately apply it to a specific customer invoice.

Lab: Payment and Prepayment Entry

• Use the Payment Entry window to enter payments for customers.

Lab: Payment Application

• Apply previously entered payments to specific customer documents.

After completing this chapter, students will be able to:

• Create payments for customers.
• Apply payments to specific customer invoices.
• Apply credit memos to customer invoices.
• Create Pre-payments.

This chapter explores the options for dealing with incorrect payments. We show you how to reverse payment applications, correct payments entered for the wrong customer, void payments, and optionally charge Non Sufficient Fund fees.

Main Topics

• Reverse Payment Applications.
• Reclassify payments to different customers.
• Void Payments.

Lab: Payment Application Inquiry/Reversal

• Use each of the functions in the Payment Application Inquiry/Reversal window to void, reclassify, and reverse payment applications.

After completing this chapter, students will be able to:

• Reverse Payment Applications.
• Reassign payments to different customers.
• Void payments.

In this lesson you learn how to void a payment after it has been issued. View the reinstated invoice, and understand the steps to issue a new payment.

Main Topics

• Write-Off using Payment Application window.
• Small Balance/Credit Write Off.

Lab: Write Off in Payment Applications

• Write off a discount taken after the discount date using the Payment Application window.

Lab: Small Balance Write Off

• Write off documents that met specified criteria.

After completing this chapter, students will be able to:

• Set limits for Small Balance Write-off.
• Write off small balances and credits during Payment Application.
• Write off small balances and credits for a set of documents.

Use the recurring invoice feature to make repetitive documents more efficient. This chapter shows you how to define a recurring item and execute the process to create the invoice each period.

Main Topics

• Procedures for using Recurring Invoices.
• Recurring Invoice Maintenance.
• Generate Recurring Invoices.

Lab: Create a Recurring Invoice

• Create a recurring item for a quarterly service contract.
• Generate the recurring invoice.

After completing this chapter, students will be able to:

• Determine when invoices should be defined as Recurring Invoices.
• Set up Recurring Invoices.
• Process Recurring Invoices to generate a batch.

The objective of this chapter is to introduce the procedures that should be run prior to printing customer statements. We look at how to set up and apply finance charges, view aging balances, and, the options for assigning customers to statement cycle groups and printing statements.

Main Topics

• Procedures for processing customer statements.
• Statement Cycle Maintenance.
• Apply Finance Charges.
• Age Customer Detail.
• Close Statement Cycle.
• Print Statements.

Lab: Process Customer Statements

• Apply Finance Charges.
• Age Customer Detail.
• Close the Statement Cycle.
• Print Customer Statements.

After completing this chapter, students will be able to:

• Decide when to print customer statements.
• Define statement cycles for customers.
• Age customer documents.
• Apply Finance Charges

The objective of this chapter is to understand how to create a closing checklist to ensure all transactions and activities have been completed for the accounting period. Produce appropriate audit trail reports and lean to correct an out of balance condition, and close only Accounts Receivable or all modules for the period. This chapter also discusses the detail retention and deletion options.

Main Topics

• Balance the Accounts Receivable module to the General Ledger.
• Correct an Out of Balance Condition.
• Close for the Month or Year.
• Delete Accounts Receivable Detail.
• Perform Accounts Receivable Integrity Payment.

After completing this chapter, students will be able to:

• Understand Month-End processes and procedures.
• Balance Accounts Receivable to General Ledger.
• Decide when to close Accounts Receivable for the period.
• Execute the Closing process.
• Delete detail for Accounts Receivable.
• Understand the AP Integrity Check and when to use it.

Appendix A: Accounts Receivable Setup

Understand the defaults and user options defined in the Accounts Receivable Setup window. Even though these options are typically not changed after the product is implemented, you will gain understanding of default values and processes through the settings in this window.

Also, it is important to note that this chapter is optional and can be skipped at the instructor's discretion. If the instructor feels that each student's background provides sufficient experience in these topic areas, then the instructor reserves the right to skip this chapter.

Main Topics

• Accounts Receivable Setup.
• Accounts Receivable Implementation Worksheet.
• Salesperson Maintenance.
• Customer Class Coding.
• Statement Cycles.
• Sales Territory.
• Customer Class.
• Initialize Customer History.

After completing this chapter, students will be able to:

• Understand the options in the Accounts Receivable setup window.
• Understand how the Accounts Receivable setup options impact the Accounts Receivable module.
• Initialize existing history.

Appendix B: Sales Tax Maintenance

This chapter discusses the options for tracking Sales Tax. The student will learn how to define taxes and enter updated tax rates, set the default tax ID's for customers/vendors, and use taxes in data entry.

This chapter is optional and can be skipped at the instructor's discretion. If the instructor feels that each student's background provides sufficient experience in these topic areas, then the instructor reserves the right to skip this chapter.

Main Topics

• Sales Tax Procedures.
• Tax Maintenance.
• Tax Categories.
• Tax Groups.
• Assigning Taxes to Customers.
• Using Taxes in Data Entry.
• Tax Reporting.

After completing this chapter, students will be able to:

• Define Sales Taxes.
• Understand Tax Groups.
• Understand Tax Categories.
• Use taxes in data entry.

Appendix C: Terms Maintenance

This Appendix defines payment terms for vendors/customers and teaches the student how to set up terms with discount options. Multiple installments can be defined using standard frequencies or user defined payment dates and amounts.

This chapter is optional and can be skipped at the instructor's discretion. If the instructor feels that each student's background provides sufficient experience in these topic areas, then the instructor reserves the right to skip this chapter.

Main Topics

• Shared Information Terms Maintenance.
• Multiple Installments.
• Using Multiple Installment Terms.

After completing this chapter, students will be able to:

• Define Terms for use in Data Entry.
• Create Multiple Installment Terms.
• Use multiple installment Terms.