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Microsoft Dynamics GP Payables Management

Course 8509: One days; Instructor-Led

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Introduction Introduction
Audience Audience
At Course Completion At Course Completion
Prerequisites Prerequisites
Course Outline Course Outline
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Introduction

The one-day Microsoft Dynamics GP Payables Management course delves into the accounting cycle and the processes required to enter vendor invoices and process checks. This course also shows you how to perform additional functions such as adjustments, prepayments, month-end closing, and cash flow control.

A thorough understanding of these topics allows you to capitalize on vendor discount dates to reduce payable liabilities and easily select "the right" vouchers for payment by date, vendor, number, or custom query to control your cash outlay. You will learn to use comprehensive reporting features to present data in different ways, including many standard reports such as Aged Accounts Payables, Vendor Trial Balance, and Vendor Check Register. 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 lookup functions.


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 Microsoft Dynamics GP Payables Management.

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


At Course Completion

After completing this course, students should be able to:

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Perform all Payables Management related data entry functions including vendor invoicing, check processing, recurring vouchers, and manual checks
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Perform maintenance on payables management documents and other records such as vendors and recurring invoices
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Select documents for payment and make appropriate adjustments to payment amounts prior to check processing
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Print standard reports to verify data and financial analysis for audit trail purposes
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Identify the impact of the Payables Management module on other Microsoft Dynamics GP modules
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Troubleshoot and correct input errors including an incorrect posting period and how to void checks

Prerequisites

Before attending this course, students must have:

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General knowledge of Microsoft Windows
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knowledge of accounting principles

Student Materials

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


Course Outline

Chapter 1: Payables Management Overview

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

Main Topics

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Payables Management Features and Benefits
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Payables Management Overview and Roadmap
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Integration

After completing this chapter, students should be able to:

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Identify the features and benefits available when using Payables Management.
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Discuss integration that takes place between Payables Management and other modules within Microsoft Dynamics GP.
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Identify the navigation used to access the windows for transactions, reports, utilities, routines, and inquiries in Payables Management.

Chapter 2: Setup Procedures

This chapter focuses on the setup procedures for the Payables Management module. We examine in detail the options available to customize this module to reflect the way your organization does business. Time is spent discussing the benefits of using vendor classes to organize and ease data entry. You set up vendors so that you can track the information that is crucial in your company. The last step is to enter Beginning Balances for each vendor in preparation for using the Payables Management module. Once your Payables Management setup has been defined, there are many reports available to document the selected preferences.

Main Topics

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Payables Management Setup Checklist
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Company and Posting Setup Procedures
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Payables Management Setup and Options
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Vendor Class Maintenance
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Vendor Class Accounts
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Vendor Maintenance
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Vendor Maintenance Options
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Vendor Account Maintenance
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Payables Management Setup Report
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Beginning Balances
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Vendor History

Labs

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Modify Existing Payables Management Setup Selections
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Set up a Vendor Class
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Add a New Vendor Record

After completing this chapter, students should be able to:

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Customize settings for the Payables Management module.
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Create Vendor Classes and assign vendors appropriately.
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Create Vendor Records.
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Enter beginning balances for each vendor.

Chapter 3: Daily Procedures

This chapter defines the ways transactions are entered and posted in Payables Management. You explore the difference between transaction level and batch level posting, and the methods for posting batches. This chapter demonstrates the many types of transactions that can be entered in Payables Management. Entering Scheduled Payments and performing "What If" analysis is covered in this section. In addition to these topics the chapter covers creating and printing single computer checks as well as processing batches of computer checks.

Main Topics

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Transaction Entry Overview
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Posting Overview
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Batch Entry
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Entering Transactions
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Printing a Check
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Applying Documents
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Using Multidimensional Analysis
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Scheduled Payments Checklist
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Scheduled Payments Entry
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Manual Payments
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Process Computer Checks
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Selecting Documents for Payment
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Editing Payables Checks & Check Batches
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Printing and Posting Checks
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Apply Payables Documents
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Batch Recovery

Labs

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Enter and Post an Invoice
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Enter an Invoice and Create a Check Within the Same Transaction
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Print the Check
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Post Transactions
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Enter and Apply a Credit Memo
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Create a Payment Schedule for a Recent Purchase from a Vendor
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Enter a Credit Card Payment to Pay off an Invoice and Apply the Payment
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Enter a Prepayment and Post the Payment
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Create a Batch, Select Vouchers for Payment, Print the Batch Edit List
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Add / Remove Additional Vouchers for an Existing Check Batch
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Print and Post a Check Batch
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Apply a Manual Payment to an Invoice

After completing this chapter, students should be able to:

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Enter and post transactions using the transaction level or batch posting method Enter the different types of transactions in Payables Management
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Enter manual payments and prepayments for their vendors
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Create and print single computer checks
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Create and print batches of computer checks

Chapter 4: Intercompany Transactions

This chapter shows you how to record transactions in one company that creates transactions in another company's Payables Management. You examine the terms 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

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Intercompany Processing overview
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Defining Intercompany relationships
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Entering Payables Management Intercompany Transactions
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Post Intercompany Transactions in General Ledger
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Posting Intercompany Transactions in the Destination Company
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Viewing the Intercompany Transactions in Inquiry
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Voiding Intercompany Transactions in Payables Management

After completing this chapter, students should be able to:

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

Chapter 5: Maintaining Records

This chapter examines the functionality available to maintain your Payables Management records. There is also a section that focuses on placing and removing holds from vendors and transactions. The process to void open and historical transactions is covered in detail in this section. Time is spent discussing the procedure for changing and deleting records. We look at how to remove historical information from Microsoft Dynamics GP and the effects of removing this history. Retrieving information is also a focus of this chapter. Time is also spent discussing the inquiry windows and reports that can be generated from the Payables Management module.

Main Topics

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Place or Release Holds
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Void Open Payables Transactions
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Void Historical Transactions
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Change and Delete Vendors
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Remove History
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Reconcile
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Retrieve Information
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Creating Report Options
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Creating and Printing Report Groups

Labs

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Place an invoice on hold
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Enter, Post, and Void and Invoice
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Void a Historical Payables Transaction
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Add Additional Information to Posted Documents
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Delete a Vendor Record
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Remove Transaction and Distribution History
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Reconcile Payables Accounts for all Vendors

After completing this chapter, students should be able to:

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Place and remove holds on vendors and transactions Void open and historical transactions.
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Edit posted transactions.
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Change and delete vendor records.
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Remove historical payables information.
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Perform utilities for your payables data.
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Inquire and report on transactions.

Chapter 6: Period-end Procedures

This chapter examines the processes you complete at the end of the month, period, calendar, and fiscal year. This chapter focuses on the errors that may cause Payables Management to be out of balance with the General Ledger.

You look at the reports that should be printed prior to performing the closing process. Time is spent examining what actually takes place during the closing process and the two types of closings: calendar year and fiscal year.

Main Topics

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Period-end Checklist
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Reconcile Payables Management to General Ledger
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Closing the Fiscal Period
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Calendar Year-end Closing
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Printing 1099 Statements
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Fiscal Year-end Closing
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Tax Year-end Close

Labs

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Close all Origins in Payables Management Except Transaction Entry
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Close an Individual Period for the Purchasing Series
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Close the Calendar and Fiscal Year for Payables Management
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Review the Vendor Yearly Summary for Your Vendors

After completing this chapter, students should be able to:

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Complete the processes that are performed at the end of an accounting period
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Complete the processes that performed at the end of a calendar or fiscal year
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Perform the Year-end closing process

Appendix A: SmartList

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

Main Topics

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

Lab:Vendors

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Create a SmartList Inquiry for Vendors
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Create a SmartList Inquiry for Vendor Addresses and Export Results to Microsoft Word
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Create a SmartList Inquiry for Payables Transactions, Add Additional Search Criteria, and Save as a Favorite

After completing this appendix, students should be able to:

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

Appendix B: Payables Management Case Study

This case study is a comprehensive lab used to reinforce the concepts learned in the Payables Management class.

Main Topics

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Posting Setup
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Payables Management Setup
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Creating Vendor Records
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Entering Transactions and Performing Inquiries
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Editing posted transactions
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Create/Edit/Print/Post Checks
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Void Open and Historical transactions
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Printing Historical Aged Trial Balance Report
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Place vendor on hold
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Remove History
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SmartList

After completing this appendix, students should be able to:

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Understand the necessary processes to set up and manage their Payables Management module
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Have more confidence in their ability to use Payables Management in their company



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