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Accounts Receivable in Microsoft Dynamics SL 7.0

Course 8827: One day; Instructor-Led

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Introduction Introduction
Audience Audience
At Course Completion At Course Completion
Prerequisites Prerequisites
Microsoft Certified Professional Exams Microsoft Certified Professional Exams
Course Materials Course Materials
Course Outline Course Outline
Take This Training Take This Training

Introduction


Introduction

This one-day course explores the accounting cycle and the processes required to enter invoices and receive payments from customers. This course shows how to perform additional functions such as credit memos, prepayments, small balance write off, print customer statements, reverse and void payments, and month-end closing. Also included in the course are: setting terms for calculating document discount dates and due dates, using balance forward and open-item statements, and applying any mix of the comprehensive service and finance charges available.

Students apply payments and credit memos to specific unpaid invoices by using several automatic payment application options to assist in keeping customer payment information consistent and accurate. Using reporting features to present data in different ways, including many standard reports such as Aged Accounts Receivables, Customer Trial Balance, and the Accounts Receivable Batch Register is explained. This course also delves into defining default values that automatically populate data fields and gather the information needed by exploring powerful inquiry and lookup functions.

Attendees review how to improve productivity, reduce cycle time, and gain control over accounts receivable processes. Users speed data entry with recurring invoice options that automatically default payment terms and other fields defined in the customer maintenance record. Then apply payments manually or automatically to invoices on a monthly or periodic basis. This is an essential course for all end-users, consultants, and implementers who want to learn about this core module of the Microsoft Dynamics SL Financial system.

Classroom training provides in-depth learning via hands-on interaction. Through demonstrations, presentations, and classroom activities, students can receive hands-on experience with instruction from our certified staff and increase productivity and efficiency by learning tips and tricks from product specialists.


Audience

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


At Course Completion

Course completion objectives are:

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Perform all Accounts Receivable related data entry functions including customer invoicing, customer payment application, and recurring invoices.
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Perform maintenance on Accounts Receivable documents and maintenance records such as customers, customer classes, and recurring invoices.
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Apply payments and prepayments to customer balances or against specific invoices.
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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 Accounts Receivable module on other modules.
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Troubleshoot and correct operator input errors including incorrect period to post, incorrect document amounts, or dates and incorrect or unnecessary documents.
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Perform month-end procedures including aging customer documents, closing statement cycles, and printing customer statements.

Prerequisites

Before attending this course, students must have:

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General knowledge of Microsoft Windows.
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Knowledge of Basic navigation functions in Microsoft Dynamics SL.
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Completion of General Ledger training course is helpful but not required.

Microsoft Certified Professional Exams

No Microsoft Certified Professional exams are associated with this course currently.


Course Materials

The Courseware includes a comprehensive workbook and Basic Procedure Guide.


Course Outline

Chapter 1: Overview

This chapter introduces students to the Accounts Receivable module of Microsoft Dynamics SL product and training course. The 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

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Course Description
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Module Overview
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Accounts Receivable Process Flow
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Other Features

The goals for completing this chapter are for students to:

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

Chapter 2: Active Overview

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 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

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Transaction Flowchart
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Invoice Entry
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Payment Entry
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Viewing Results

The goals for completing this chapter are for students to:

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

Chapter 3: Customer Maintenance

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

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

Lab: Customer Maintenance

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Create new customers

The goals for completing this chapter are for students to:

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

Chapter 4: Invoice and Adjustment Entry

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. Also, execute reports to verify information entered and use the Document Maintenance window to edit information after a batch is released.

Main Topics

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Procedures for Entering Invoices
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Invoice and Memo Entry Window
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Debit and Credit Memo Documents
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Document Maintenance
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Releasing Accounts Receivable Documents
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Accounts Receivable Batch Reports

Lab: Invoice and Memo Entry

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Enter documents to issue invoices to customers

Lab: Credit Memo Entry

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Issue a credit memo to a customer for unneeded goods

Lab: Invoice and Memo Entry (Optional)

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Enter a batch of invoices with documents for various customers

The goals for completing this chapter are for students to:

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

Chapter 5: Customer Inquiry

This chapter examines the series of windows available for viewing customer balances and drilling down to the transaction details. The Inquiry windows provides the ability 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

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Customer Inquiry Window
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Customer Activity window
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Documents Report
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Customer History

Lab: Customer Inquiry

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Use the Customer Inquiry window to view Accounts Receivable data

Lab: Customer Reports

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Use the Aged AR report to view customer data

The goals for completing this chapter are for students to:

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

Chapter 6: Payment Application

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

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

Lab: Payment Entry and Application

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Print the Cash Requirements report and select documents for payment processing

Lab: Payment Entry and Application

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

Lab: Payment and Prepayment Entry

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Use the Payment Entry window to enter payments for customers

Lab: Payment Application

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Apply previously entered payments to specific customer documents

The goals for completing this chapter are for students to:

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

Chapter 7: Payment Application Inquiry/Reversal

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

Main Topics

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Reverse Payment Applications
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Reclassify Payments to Different Customers
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Void Payments

Lab: Payment Application Inquiry/Reversal

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

The goals for completing this chapter are for students to:

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

Chapter 8: Small Balance/Credit Write-Off

This chapter describes 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

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Write-Off using Payment Application Window
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Small Balance/Credit Write Off

Lab: Write Off in Payment Applications

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

Lab: Small Balance Write Off

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Write off documents that met specified criteria

The goals for completing this chapter are for students to:

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

Chapter 9: Recurring Invoices

Use the recurring invoice feature to make repetitive documents more efficient. This chapter demonstrates defining a recurring item and executing the process to create the invoice each period.

Main Topics

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Procedures for using Recurring Invoices
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Recurring Invoice Maintenance
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Generate Recurring Invoices

Lab: Create a Recurring Invoice

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

The goals for completing this chapter are for students to:

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

Chapter 10: Customer Statements

This chapter introduces the procedures that should be run prior to printing customer statements. The chapter also demonstrates 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

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Procedures for Processing Customer Statements
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Statement Cycle Maintenance
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Apply Finance Charges
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Age Customer Detail
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Close Statement Cycle
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Print Statements

Lab: Process Customer Statements

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Apply Finance Charges
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Age Customer Detail
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Close the Statement Cycle
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Print Customer Statement

The goals for completing this chapter are for students to:

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

Chapter 11: Month-End Procedures

The objective of this chapter is to describe how to create a closing checklist to ensure all transactions and activities have been completed for the accounting period. The chapter demonstrates how to produce appropriate audit trail reports,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

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

The goals for completing this chapter are for students to:

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Understand Month-End processes and procedures.
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Balance Accounts Receivable to General Ledger.
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Decide when to close Accounts Receivable for the period.
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Execute the Closing process.
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Delete detail for Accounts Receivable.
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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, the chapter discusses default values and processes through the settings in this window.

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

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

The goals for completing this chapter are for students to:

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

Appendix B: Sales Tax Maintenance

This chapter discusses the options for tracking Sales Tax. The student learns how to define taxes and enter updated tax rates, set the default tax IDs 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

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

The goals for completing this chapter are for students to:

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Define Sales Taxes.
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Understand Tax Groups.
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Understand Tax Categories.
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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

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Shared Information Terms Maintenance
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Multiple Installments
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Using Multiple Installment Terms

The goals for completing this chapter are for students to:

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

Appendix D: Accounts Receivable Case Study

This appendix includes a case study of Accounts Receivable. The case study allows students to practice what has been learned in a comprehensive exercise. The case study is organized such that each task builds on the previous task.

Based on country-specific needs, this chapter is optional for classroom presentation.

Main Topics

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Customer setup
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Customer Statements
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Period-end reports

The goals for completing this chapter are for students to:

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Set up and maintain Accounts Receivables.
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Achieve a comprehensive understanding of how the various parts of Accounts Receivable are interconnected



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