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Bank Reconciliation in Microsoft Dynamics GP 10.0

Course 8671: One day; 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 Bank Reconciliation course explores the accounting cycle and the processes required to manage cash receipts, cash disbursements, and other transactions that affect checkbook balances. This course shows you how to perform the reconciliation process, ensuring accuracy of your financial data and its relation to your financial institution.

A thorough understanding of these topics allows you to reconcile your checkbooks with your bank statements, keeping information consistent and accurate. You will learn to use comprehensive reporting features to preview data in different ways prior to performing the reconciliation process, as well as how to use the Checkbook Register report, which may be printed at any time. 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 Bank Reconciliation.

Bank Reconciliation training is recommended for anyone who plans to implement, use, maintain, consult, or support Microsoft Dynamics GP. The class is targeted toward data entry clerks, administrators; office managers, CEOs, and consultants who need to understand the technical aspects of Bank Reconciliation and gain foundational knowledge of the application functionality.


At Course Completion

After completing this course, students should be able to:

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Customize the setup of Bank Reconciliation to fit their business needs.
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Perform all Bank Reconciliation related data entry functions, including bank transactions, bank deposits, and bank transfers.
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Perform maintenance on Bank Reconciliation documents and records such checkbooks.
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Print standard reports for audit trail purposes, financial analysis, and to verify data entry.
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Identify the impact of the Bank Reconciliation module on other modules.
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Troubleshoot and correct input errors, including incorrect posting date or incorrect document amounts.
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Perform the bank reconciliation process.

Prerequisites

Before attending this course, students must have:

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General knowledge of Microsoft Windows
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Basic knowledge of accounting principles

Student Materials

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


Course Outline

Chapter 1: Overview and Setup Procedures

This chapter gives students a general overview of the features and benefits of using the Bank Reconciliation module in an integrated environment. It also focuses on the setup procedures for the Bank Reconciliation module, as well as the options available to customize this module to reflect the way your organization does business. The chapter also covers entering beginning balances for each checkbook in preparation for using the Bank Reconciliation module.

Main Topics

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Bank Reconciliation Features and Benefits
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Bank Reconciliation Integration
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Bank Reconciliation Setup and Options
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Checkbook Maintenance
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Transfer Existing Checkbooks to Bank Reconciliation

Labs

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Bank Reconciliation Setup
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Checkbook Setup

After completing this chapter, students should be able to:

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Identify the features and benefits available when using Bank Reconciliation.
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Discuss integration that takes place between Bank Reconciliation and other modules within the application.
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Identify the navigation used to access the windows for transactions, reports, routines, and inquiries in Bank Reconciliation.
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Customize settings for the Bank Reconciliation module.
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Set up checkbooks.
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Transfer existing checkbooks to Microsoft Dynamics GP to begin using the Bank Reconciliation module.

Chapter 2: Daily Procedures

This chapter defines the ways that transactions can be entered and posted in Bank Reconciliation. You explore the different types of transactions, receipts, and deposits that may be entered in this module. This chapter explains how each type of transaction may update the cash balance in the General Ledger, the checkbook balance in Bank Reconciliation, or both.

Main Topics

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Bank Transaction Entry
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Receipt Transactions
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Miscellaneous Checks
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Bank Transfer Entry
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Create Bank Deposits
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Bank Deposit Entry

Labs

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Entering an Outstanding Check
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Entering a Check Transaction
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Entering a Cash Receipt
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Printing a Miscellaneous Check
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Entering a Bank Transfer
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Entering a Deposit without Receipts
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Entering a Deposit with Receipts

After completing this chapter, students should be able to:

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Enter the different types of cash transactions in Bank Reconciliation.
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Print checks for miscellaneous items in Bank Reconciliation.
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Enter bank transfers.
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Enter and post deposits.

Chapter 3: Reconcile Bank Statements

This chapter examines the steps necessary to reconcile a checkbook to the bank statement. The process to enter miscellaneous transactions and adjustments during the reconcile process is covered in detail. Time is spent discussing the transaction posting that occurs during the reconcile process.

Main Topics

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Reconcile Bank Statements Window
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Selecting Bank Transactions
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Enter Adjustments for Miscellaneous Transactions
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Print Preview Reports
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Enter Adjustments for Cleared Differences
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Reconcile the Checkbook

Labs

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Reconcile a Checkbook

After completing this chapter, students should be able to:

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Reconcile a checkbook to the bank statement.
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Enter adjustments for miscellaneous transactions such as service charges or interest earned.
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Account for cleared differences between the checkbook and the bank.
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Print Reconciliation Preview reports.

Chapter 4: Maintaining Records

This chapter examines the functionality available to maintain Bank Reconciliation records. The process to void transactions, transfers, and deposits is covered in detail. Time is spent discussing the procedure for changing and deleting records. How to remove historical information from Microsoft Dynamics GP and the effects of removing this history is demonstrated. Time is also spent discussing the inquiry windows and reports that can be generated from the Bank Reconciliation module.

Main Topics

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Voiding a Bank Transaction
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Voiding a Bank Transfer
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Voiding a Deposit
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Deleting a Checkbook
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Removing History
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Using Inquiries
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Report Options
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Report Groups

Labs

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Removing History

After completing this chapter, students should be able to:

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Void bank transactions, transfers, and deposits.
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Change and delete checkbook records.
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Remove historical bank reconciliation information.
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Inquire and report on bank information.

Appendix A: Job Aids

This appendix includes job aids that are used in Bank Reconciliation. There is also a quiz to help evaluate what topic areas may need to be revisited..

Appendix B: Case Study
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