Course 8507: One days; Instructor-Led

Introduction

The one-day Microsoft Dynamics GP General Ledger course explores the accounting cycle and the processes required to enter financial data into the system. This course also shows 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 learn how to accelerate data entry with transaction batch options while reducing data entry errors. This course also teaches 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.

Top of page

Audience

Customers wanting to learn the basic features and to develop a working knowledge of the typical day-to-day procedures required to effectively use General Ledger.

The class is targeted toward data entry clerks, administrators, office managers, CEOs, and consultants who need to understand the technical aspects of Microsoft Dynamics GP General Ledger and gain foundational knowledge of the application functionality.

Top of page

At Course Completion

After completing this course, students should be able to:

•	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 General Ledger
•	Complete period-end and year-end procedures

Top of page

Prerequisites

Before attending this course, students must have:

•	General knowledge of Microsoft Windows
•	Basic knowledge of accounting principles

Top of page

Microsoft Certification exams

No Microsoft Certification exams are associated with this course currently.

Top of page

Course Materials

The student materials include a comprehensive workbook and other necessary items for this class.

Top of page

Course Outline

Chapter 1: Overview

This chapter provides a general overview of the features and benefits of using the General Ledger module in an integrated environment. It also focuses on how this module integrates with other modules in the Microsoft Dynamics GP application.

Main Topics

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

After completing this chapter, students should be able to:

•	Identify the features and benefits available when using General Ledger
•	Discuss integration that takes place between General Ledger and other modules within the application
•	Identify the navigation used to access the windows for transactions, reports, utilities, routines, and inquiries in General Ledger

Chapter 2: Setup Procedures

This chapter focuses on the setup procedures for the General Ledger module. We will examine the different types of posting accounts and budget calculation methods in detail. A section also focuses on Quick Journals which increase efficiency and accuracy for posting transactions that occur on a regular basis but have varying amounts posted to each account. General Ledger setup reports are also discussed briefly. Entering beginning balances and the options available for this are examined after all account types have been created.

Main Topics

•	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

Labs

•	Entering new Posting accounts
•	Entering a new Unit Accounts
•	Entering a new Fixed Allocation Account
•	Entering a new Variable Allocation Accounts
•	Mass Modify the Chart of Accounts
•	Account Segment Setup
•	Creating a Blank Budget in Microsoft( Excel(
•	Importing a Budget from Excel
•	Quick Journal Setup

After completing this chapter, students should be able to:

•	Customize settings for the General Ledger module
•	Enter their chart of accounts and budget information
•	Create Quick Journal entries to speed data entry and minimize errors
•	Enter Beginning Balances for their chart of accounts

Chapter 3: Daily Procedures

This chapter defines the ways that transactions can be entered and posted in General Ledger. You explore the difference between transaction level and batch level posting, and the methods for posting batches. The chapter demonstrates how to use clearing entries to transfer the balance of an account that is no longer being used to another account. In addition to these topics, the chapter covers linking transactions for analysis purposes using Transaction Matching and the ability to recover batches should there have been a power fluctuation or posting interruption.

Main Topics

•	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

Labs

•	Enter a unit account transaction
•	Enter a recurring transaction
•	Enter a clearing entry
•	Enter a Quick Journal Entry for payroll

After completing this chapter, students should be able to:

•	Enter transactions involving posting, unit and allocation accounts
•	Modify their chart of accounts
•	Use Transaction Matching for analysis purposes
•	Print edit lists and post transactions

Chapter 4: Multidimensional Analysis

This chapter examines how to use analysis codes and analysis groups to allow for detailed inquiry and reporting capabilities without creating additional general ledger accounts. This chapter discusses how to record detailed data about your transactions and performed detailed analysis of the data after it is posted in the system.

Main Topics

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

Labs

•	Set up Analysis Groups
•	Set up Analysis Codes
•	Assign Analysis Codes to Posting Account
•	Enter and post Transactions using Analysis Codes

After completing this chapter, students should be able to:

•	Use the functionality available in Multidimensional Analysis
•	Set up Analysis Groups and Analysis Codes
•	Enter transactions using Analysis Codes
•	Retrieve analysis information from posted transactions

Chapter 5: Intercompany Transactions

This chapter shows how to record transactions in one company that creates transactions in another company's General Ledger. You examine the terms that are specific to Intercompany Processing and demonstrate the accounts that must be created to allow these types of transactions to be entered and posted.

Main Topics

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

Labs

•	Granting Multicurrency Access
•	Setting up Intercompany Posting Accounts
•	Granting Company Access to a Specific Currency
•	Entering Intercompany Setup Information
•	Entering and Posting an Intercompany Transaction

After completing this chapter, students should be able to:

•	Set up Intercompany relationships
•	Enter intercompany transactions in the origination company
•	Post intercompany transactions in the destination company
•	Trace intercompany transaction back to the originating entry

Chapter 6: Organizational Structures

This chapter focuses on defining the components of your organization and the relationships between them. Once defined, users and accounts can be assigned to the various parts of the organization. If Account Level Security is activated in this company, users can use only those accounts to which they have been given access, based on their position in the organization.

Main Topics

•	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

Labs

•	Define the Organizational Structure of an Organization
•	Define the Relationship Between each of the Structure Components
•	Grant Access to the Organizational Structure Assignment Window
•	Assign Users to a Specific Company and Division
•	Assign Account-level Security to the Organizational Structure
•	Verify Security has Been Activated

After completing this chapter, students should be able to:

•	Define discrete business entities
•	Define relationships between multiple business entities
•	Define account security levels based on their organizational structure

Chapter 7: 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. Retrieving information is also a big focus of this chapter. Account Rollup Inquiry and Transaction Matching setup and analysis capabilities are discussed in this chapter. Time is also spent discussing the inquiry windows and reports that can be generated from the General Ledger module.

Main Topics

•	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

After completing this chapter, students should be able to:

•	Correct posted entries
•	Change and delete records
•	Use inquiries to retrieve information
•	Use Transaction Matching
•	Use Account Rollup Inquiries
•	Set up report options and report groups for reporting purposes

Chapter 8: Period-End Procedures

This chapter examines the process of closing an accounting period and the fiscal year. The steps necessary to complete each phase of the closing process are discussed for the end of a period as well as a fiscal year. You 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.

Main Topics

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

After completing this chapter, students should 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
•	Complete the processes that performed at the end of a fiscal year
•	Perform the Year-end closing process

Chapter 9: Financial Statement Formatting

This chapter shows the financial statements you can print using Quick Financial statements. Time is spent defining the type of financial statement to be printed and the formatting and printing options that are available for these reports. An overview of Advanced Financial Analysis and using the Accelerator File is presented.

Main Topics

•	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

Labs

•	Create a Quick Financial Report
•	Create a report option for the Quick Financial Report
•	Print a Quick Financial Report

After completing this chapter, students should be able to:

•	Create Quick Financial statements
•	Print Quick Financial statements
•	Format financial statements
•	Use Advanced Financial Analysis to modify financial statements

Appendix A: SmartList

This appendix discusses the use of SmartList to access financial data. There are also optional exercises that can be completed by students if time permits.

Main Topics

•	Using SmartLists
•	Creating Objects
•	Using the Search Button
•	Saving New Objects as Favorites

Labs

•	Create a SmartList Inquiry
•	Save Query as a Favorite
•	Create a SmartList Inquiry for Account Transactions
•	Create a SmartList Inquiry for Account Summaries
•	Create a SmartList Inquiry for Multidimensional Analyses

After completing this appendix, students should be able to:

•	Use SmartLists to access valuable financial data
•	Create new SmartList objects
•	Use the Search button to manage the information in a view
•	Explain the various options that are available when using SmartLists

Appendix B: Test Your Knowledge

This appendix presents questions on various topics in General Ledger. It is a good review tool to test what you have learned.

Main Topics

•	Test Your Knowledge Questions
•	Quiz

After completing this appendix, students should be able to:

•	Gauge how much they have learned about General Ledger
•	Identify areas that need to be reviewed

Appendix C: Case Study

This case study is a comprehensive lab that can be used to reinforce the learning that has occurred throughout the General Ledger class.

Main Topics

•	Posting Setup
•	General Ledger Setup
•	Source Document Setup
•	Creating Accounts
•	Creating Quick Journals & Budgets
•	Entering Transactions
•	Performing Inquiries
•	Printing Trial Balance Report

After completing this chapter, students should be able to:

•	Understand the necessary processes to set up and manage their General Ledger
•	Have more confidence in their ability to use General Ledger in their company

Appendix D: Answers

This section includes the answers to all the labs that appear through out the manual as well as the case study.

Top of page