Maintain and work with the General Ledger

Process a bank reconciliation

Use Journals and Batches

Understand Receivables Management

Understand Payables Management

Setup and work with Multicurrency

Perform standard end of year financial closing operations

Introduction to Microsoft Dynamics NAV 5.0

General knowledge of Microsoft Windows

Basic knowledge of accounting principles and procedures

Structure of the Finance in Microsoft Dynamics NAV 5.0 course

Understand the purpose of the Finance in Microsoft Dynamics NAV 5.0 course.

Understand class guidelines and details.

General Ledger Setup

Accounting Periods

Trail Codes, including Source Codes and Reason Codes

Lab – Create a Fiscal Year

Understand the General Ledger Setup card.

Understand and work with accounting periods.

Navigate the audit trail.

Chart of Accounts

Chart of Accounts Card

General Ledger Budgets

Demonstration: Create a Budget

Demonstration: Copying Budget Entries

Demonstration: Export and Import a Budget

Lab – Create a Revenue Account

Lab – Create a VAT Account

Lab – Create a Budget

Lab – Create a Budget Based on a Period Amount

Lab – Copy a Budget

Lab – Create a Budget from History

Lab – Export and Import a Budget

Lab – Copy and Assign GIFI Codes

Lab – Report and Export by GIFI Code

Understand and maintain the chart of accounts.

Understand the General Ledger Setup card.

Set up and work with budgets.

Copy and export budgets.

Set up GIFI codes.

Report account balances by GIFI code.

Journal Overview

Journal Templates

Journal Batches

Journal Lines

Creating and Posting Journal Entries

Demonstration: Post a Cash Payment for Cleaning Expenses

Recurring Journals

Demonstration: Process a Recurring Journal with Allocations

Demonstration: Recording Accruals

Reversals and Corrections

Lab – Create a Journal Entry

Lab – Create and Post a Recurring Journal

Lab – Create and Post a Recurring Journal Using the Balance Method

Understand the structure of journals, batches, and lines.

Create a journal template.

Create a journal batch.

Create and post journal entries.

Understand and use recurring journals.

Use general journals to post corrections.

Bank Account Card Overview

Create a Bank Account

Entering and Posting Receivables Payments

Demonstration: Enter a Cash Receipt Payment

Entering and Posting Payables Checks

Demonstration – Post Manual Checks

Demonstration – Suggest Vendor Payments for Local Vendors

Financially Voiding Checks

Demonstration – Scenario for Financially Voiding a Check

Bank Reconciliation

Demonstration – Complete a Bank Reconciliation

Lab – Create a Bank Account

Lab – Apply and Post Cash Receipts

Lab – Enter and Post Manual Checks

Lab – Suggest Vendor Payments for a Single Vendor

Lab – Financially Void a Check

Lab – Bank Reconciliation

Set up new bank accounts.

Enter and post payments.

Suggest vendor payments.

Financially Void a Check

Reconcile a bank account.

Customer Card and Receivables

Cash Receipt Journals Overview

Applying Cash Receipt Payments

Demonstration – Applying Entries After Posting

Deposits

Demonstration – Create a Deposit Slip

Unapply Customer Ledger Entries

Reversal of Posted Journals

Set up Payment Discounts

Process Payment Discounts

Demonstration – Posting Partial Payments with Discounts

Demonstration – Add Discounts After Posting Sales Transactions

Demonstration – Apply Posted Payments to Sales Documents with Discounts

Set up Payment Tolerance

Demonstration – Set up Payment Tolerance

Process Payment Tolerance

Demonstration – Discount Taken Past the Discount Date

Demonstration – Discount Calculated Incorrectly

Demonstration – Erroneous Totaling of Two Invoices

Reminders and Finance Charge Memos

Set up and Assign Reminder Terms

Demonstration – Create a Reminder Term

Create and Issue Reminders

Demonstration – Create Reminders Automatically

Set up and Assign Finance Charge Items

Create and Issue Finance Charge Memos

Demonstration – Create Reminders Automatically

Create Finance Charge Memos Automatically

Analyzing Receivables

Lab – Apply and Post a Cash Receipt

Lab – Applying a Payment After Posting

Lab – Unapply Posted Ledger Entries

Lab – Deposits

Lab – Reverse a Posted Journal Entry

Lab – Post a Payment with a Discount

Lab – Apply Posted Partial Payments with Discounts

Lab – Set up a Payment Tolerance

Lab – Process a Payment Tolerance

Lab – Set up a Reminder Term

Lab – Create and Issue Reminders

Lab – Set up a Finance Charge Term

Lab – Create and Issue Finance Charge Memos

Understand detailed customer ledger entries.

Analyze receivables accounts.

Use the Cash Receipts journal to apply cash.

Understand how to handle partial payments and foreign currencies.

Make corrections by Unapplying customer ledger entries.

Reverse journal postings.

Understand and work with payment discounts.

Understand and work with payment tolerances.

Understand and work with reminders and finance charge memos.

Review Customer Ledger Entries and Detailed Customer Ledger Entries.

Vendor Card and Payables

Payment Journal Overview

Apply Vendor Entries Window Overview

Post Manual Payables Checks

Suggest Vendor Payments Overview

Create Payments Using Suggest Vendor Payments

Demonstration – Suggest Vendor Payments for All Vendors

Demonstration – Suggest Payments fro a Single Vendor

Demonstration – Summarize Vendor Payments

Demonstration – Use Vendor Priority and Available Amounts

Print and Post Payables Checks

Demonstration – Print Computer Checks

Demonstration – Enter a Computer Check Manually and Print

Void Unposted Checks

Full Reverse Check Voiding

Electronic Payments

Apply Payments After Posting

Demonstration – Apply a Payment After Posting

Unapply Vendor Ledger Entries

Reversal of Journal Postings

Set up Payment Discounts

Process Payment Discounts

Demonstration – Suggest Discounted Payment Lines

Demonstration – Suggest Payment Lines Without a Discount

Demonstration – Adjust Payment Discounts

Set up Payment Tolerance

Demonstration – Set up Payment Tolerance

Process Payment Tolerance

Demonstration – Discount Taken Past the Discount Date

Demonstration – Adjust the Payment Amount to Reflect Discount

Analyze Payables

Lab – Enter a Manual Check

Lab – Suggest, Print, and Post a Vendor Payment

Lab – Void and Reprint a Check

Lab – Voiding and Recreating a Posted Check

Lab – Apply a Credit Memo After Posting

Lab – Unapply a Payment

Lab – Reverse a Posted Journal Entry

Lab – Adjust an Invoice to Include Payment Discounts

Lab – Adjust the Payment Discount Amount

Use payment journals, both manually and with the Suggest Vendor Payments feature.

Work with partial payments.

Enter and Post Electronic Payments

Understand payment discounts.

Understand how to void checks, posted and not posted.

Unapply vendor ledger entries.

Reverse journal postings.

Handle 1099 Processing.

Prepayments Set-up Overview

Set up Prepayment General Ledger Accounts

Set up Number Series for Prepayment Documents

Set up Prepayment Percentages for Customers and Vendors

Prepayments and Sales Tax

Set up Check Prepayment When Posting

Prepayments Processing Flows

Prepayment Sales and Purchase Orders Overview

Process Prepayment Sales and Purchase Orders

Process Prepayment Sales and Purchase Invoices

Correct Prepayments

Recording Payments for Prepayment Sales and Purchase Invoices

Shipping and Invoicing a Sales Order With a Prepayment

Demonstration – Invoice a Sales Order With Prepayment and Process a Prepayment for the Sales Order

Receive and Invoice a Purchase Order With a Prepayment

Prepayments and Payment Discounts

Lab – Set up Prepayments for Sales

Lab – Create a Prepayment Sales Order

Lab – Invoice a Prepayment Sales Order

Lab – Process a Payment for a Prepayment Invoice

Lab – Process a Payment for a Sales Order With a Prepayment

Set up prepayments in the General Ledger.

Process prepayments, including the following:

Create an order requiring prepayment

Create a prepayment invoice

Record payments

Review the corrections that can be made to prepayments.

Ship and invoice a sales order with a prepayment.

Receive and invoice a purchase order with a prepayment.

Sales Tax Setup

Sales Tax Groups

Sales Tax Jurisdictions

Sales Tax Areas

Sales Tax Details

Calculating Sales Tax

Handling Tax Exempt Sales and Non-Taxable Items

Unrealized Tax

Demonstration – Unrealized Tax

Purchase and Use Tax

Demonstration – Purchase Tax

Additional Tax Topics – Tax Differences, Tax Minimums, Tax on Tax

Lab – Sales Tax Jurisdictions

Lab – Sales Tax Area

Lab – Sales Tax Details

Lab – Charging Tax on Tax

Set Up Sales Tax Posting.

Set Up Tax Groups.

Handle Unrealized Tax.

Set Up Vendors for Purchase and Use Taxes.

Adjust Taxes for Prepayment Discounts.

Handle Tax Differences, Tax Minimums, and Tax on Tax.

Changing the order in which Tax Jurisdictions print on documents.

Currency Card and Currency Exchange Rates

Demonstration – Setting Payment Tolerance

Set Up Multicurrency for Customers, Vendors, and Bank Accounts

Process Sales and Purchase Documents

Demonstration – Process a Purchase Invoice

Process Cash Receipts

Demonstration – Process a Cash Receipt Journal

Process Payments

Demonstration – Print and Post Checks

Convert Journal Entries to Local Currency

Demonstration - Use the Insert Conversion LCY Rounding Lines Function

Use the Adjust Exchange Rates Batch Job

Demonstration – Adjust Currency Exchange Rate

Additional Reporting Currency

Consolidations with Multiple Currencies

Lab – Process a Sales Invoice

Lab – Post Expenses in Foreign Currency

Lab – Update the CZK:USD Exchange Rate

Lab – Add an Additional Reporting Currency

Lab – Adjust the ACY Exchange Rate

Understand and use currency exchange rates.

Understand and use additional reporting currencies.

Closing a Fiscal Year

Demonstration – Prior-Year Entry Confirmation

Transferring Income Statement Account Balances

Demonstration – Run the Close Income Statement Batch Job

Demonstration – Review Entries and Post the General Journal

Lab – Post an Entry into a Closed Fiscal Year

Perform standard end of year financial closing operations.