80225:General Ledger in Microsoft Dynamics GP 2010
About this Course
This course explores the General Ledger accounting cycle and the processes required to enter financial data into the system. This training material also shows how to perform additional functions such as account reconciliation, budgeting, allocation, period-end and year-end closing procedures.
Audience Profile
This course is intended for customers and partners that want to learn the basic features and understand the typical day-to-day procedures of General Ledger. The class is targeted toward data entry clerks, administrators, office managers, CEO's, accountants, and consultants who need to understand the technical aspects of Microsoft Dynamics GP General Ledger and understand how to use it in accordance with the rest of the system.
At Course Completion
After completing this course, students will be able to:
- Customize General Ledger settings
- Set up a chart of accounts including posting, unit and allocation accounts
- Enter and post transactions using transactional or batch posting methods
- Perform key inquiries and print reports in General Ledger
- Maintain records in General Ledger
- Print financial statements and other key reports to manage a business
- Complete period and year-end procedures
Course Outline
Module 1: Overview and Setup
Thismodule provides a general overview of the features and benefits of using General Ledger in an integrated environment and focuses on howGeneral Ledgerintegrates with other modules in the Microsoft Dynamics GP application. Thismodule also focuses on the setup proceduresand different types of accounts in General Ledger, and how to define budgets for accounts using Microsoft Dynamics GP or Microsoft Excel.
Lessons
- Features and Benefits
- General Ledger Setup
- Account Categories
- Posting Accounts Setup
- Unit Accounts Setup
- Fixed Allocation Account Setup
- Variable Allocation Account Setup
- Account Segment Setup
- Mass Modify Chart of Accounts
- Definethe Retained Earnings Account
- Setting up Budgets
- Budget Maintenance
- Combining Budgets
- Quick Journal Setup
- Transaction Matching Setup
- Entering Beginning Balances
Lab : Overview and Setup
- Entering a Posting Account
- Entering a Unit Account
- Entering a Fixed Allocation Account
- Entering a Variable Allocation Account
- Account Segment Setup
- Mass Modify Chart of Accounts
- Creating a Blank Budget in Excel
- Importing a Budget from Excel
- Quick Journal Setup
After completing this module, students will be able to:
- Identify the features and benefits available in General Ledger
- Discuss integration that takes place between General Ledger and other modules
- Identify the navigation used to access the windows used to set up General Ledger
- Customize settings for General Ledger
- Enter a chart of accounts; posting, unit, fixed allocation and variable allocation
- Define a retained earnings account and understand the options available
- Enter budget information
- Create Quick Journal entries to speed data entry and minimize errors
- Enter Beginning Balances fora chart of accounts
Module 2: Daily Procedures
Thismodule defines the ways that transactions can be entered and posted in General Ledger.It explores the difference between transaction level and batch level posting, and the methods for posting batches.It also demonstrates how to use clearing entries to transfer the balance of an account that is no longer being used to another account.
Lessons
- Batch Entry
- Transaction Entry
- Calculate Taxes in General Ledger
- Clearing Transaction Entry
- Budget Transaction Entry
- Quick Journal Entry
- Linking Transactions
- Batch Recovery
Lab : Daily Procedures
- Transaction Entry, Unit Account
- Transaction Entry, Allocation Account
- Transaction Entry, Recurring Transaction
- Clearing Entry
- Budget Transaction Entry
- Quick Journal Entry
After completing this module, students will 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
Module 3: Additional Functionality
Thismodule examines how to use Multidimensional Analysis, enter Intercompany transactions and set up Organizational Structures to use account security.
Lessons
- Multidimensional Analysis Groups and Codes
- Assigning Analysis Groups to Accounts
- Multidimensional Analysis Transactions
- Defining Intercompany Relationships
- Entering Intercompany Transactions
- Organizational Structures Setup
- Define Organizational Relationships
- Assigning User Classes to the Organizational Structure
- Assigning Users to the Organizational Structure
- Assign a Range of Accounts to the Organizational Structure
- Assign Individual Accounts to Organizational Structures
- Activating Account Security
Lab : Additional Functionality
- Multidimensional Analysis
- Intercompany Setup and Processing
- Organizational Structures Setup
- Organizational Tree Setup
- Organizational Structure, User Setup
- Organizational Structure, Mass Assignment
After completing this chapter, students will 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
- 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
- Define discrete business entities using Organizational Structures
- Define relationships between multiple business entities
- Define account security levels based on their organizational structure
Module 4: Maintaining Records
Thismodule examines the functionality available to maintain General Ledger records. There is a section that focuses on correcting posted entries as well as changing and deleting account records. Information about the reconcile features in General Ledger are discussed, including the capability of reconciling to the payables and receivables sub-ledgers. Inquiries and reports are also discussed in this module.
Lessons
- Correcting a Posted Transaction
- Change, Inactivate and Delete Account Records
- Reconcile
- Reconcile to GL
- Remove History
- Archive Matched Transactions
- Account Rollups
- Using Inquiries
- Report Options and Printing
- Report Groups
- Report List
After completing this chapter, students will be able to:
- Correct posted entries
- Change and delete records
- Use inquiries to retrieve information
- Use Account Rollup Inquiry
- Set up report options and report groups for reporting purposes
Module 5: Period-End Procedures
Thismodule 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. Themodule alsolooks 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.
Lessons
- Period-End Closing
- Year-End Closing
- Quick Financial Statements
- Printing Financial Statements
- Advanced Financial Analysis
Lab : Period-End Procedures
- Quick Financial Setup
- Quick Financial, Report Options
After completing this chapter, students will be able to:
- Complete period-end processes for an accounting period in General Ledger
- Consolidate periods and be aware of the effects of performing the consolidation process
- Complete the processes that should be performed at the end of a fiscal year.
- Create and print quick financial statements
- Understand basic concepts of using Advanced Financial Analysis