80573 Payables Management in Microsoft Dynamics GP 2013 (1 Day)
About this Course
The one-day Microsoft Dynamics GP Payables Management course examines 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 for capitalizing on vendor discount dates to reduce accounts payable liabilities and easily select the right vouchers for payment by date, vendor, number, or custom query to control cash outlay. This course also provides guidance on how to define default values that automatically populate data fields and how to gather the information needed to make better business decisions by exploring powerful inquiry and lookup functions.
Audience Profile
This course is intended for 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 will be able to:
- Set up Payables Management and identify the customizable options available in the setup windows.
- Perform all Payables Management related data entry functions including vendor invoicing, check processing, recurring vouchers, and manual checks.
- Select documents for payment and make appropriate adjustments to payment amounts prior to check processing.
- Correct input errors using the Edit Transaction Information window.
- Perform maintenance on Payables Management documents and other records such as vendors and recurring invoices.
- Understand the steps and requirements to void checks and invoices.
- Use inquiries or print reports to verify data and perform financial analysis for audit trail purposes.
- Identify the impact of Payables Management on other areas of Microsoft Dynamics GP.
- Microsoft Certification ExamMB3-701-Microsoft Dynamics GP 2013 Financials
Course Outline
Module 1: Overview and Setup Procedures
This module discusses the necessary setup options to start using Payables Management in Microsoft Dynamics GP. It discusses the general setup windows, and also key record setups including vendors and vendor classes.
Lessons
- Features and Benefits
- Payables Management Setup
- Payables Setup Options
- Vendor Class Maintenance
- Vendor Class Accounts Setup
- Vendor Maintenance
- Vendor Maintenance Options
- Vendor Address Maintenance
- Vendor Account Maintenance
- Beginning Balances
- Vendor History
Lab : Payables Management SetupLab : Setting up a New Vendor ClassLab : Setting up a New Vendor
After completing this module, students will be able to:
- Identify the features and benefits available in Payables Management
- Discuss integration that takes place between Payables Management and other modules within Microsoft Dynamics GP
- Customize settings for the Payables Management
- Create Vendor Classes and assign vendors appropriately
- Create Vendor records
- Enter beginning balances for vendors
Module 2: Daily Procedures
This module explains the different types of transactions that can be entered in Payables Management. Transactions discussed include invoices, credit memos, debit memos and scheduled payment invoices.
Lessons
- Batch Entry
- Payables Transaction Entry
- Scheduled Payments Entry
- Post Scheduled Payments
Lab : Enter an InvoiceLab : Enter and Pay an InvoiceLab : Enter a Credit MemoLab : Payables Scheduled Payments
After completing this module, students will be able to:
- Enter and post the different types of Payables transactions
- Understand the concept of batches and single transactions
- Enter Scheduled Payment transactions
Module 3: Entering Payments
This module explains how to enter payments made to vendors. It discusses entering manual payments and generating checks to pay vendors.
Lessons
- Payables Manual Payment Entry
- Computer Checks - Select Checks
- Edit Payables Checks
- Edit Payables Check Batches
- Print and Post Checks
- Apply Payables Documents
- Batch Recovery
Lab : Manual Payments, Credit CardLab : Manual Payments, Enter a PrepaymentLab : Select ChecksLab : Edit Payables Checks; Adding a PaymentLab : Edit Payables Checks; Removing a Vendor/VoucherLab : Printing and Posting ChecksLab : Applying Payables Documents
After completing this module, students will be able to:
- Enter vendor manual payments and prepayments
- Select invoices to pay and print computer checks
- Post batches of computer checks
- Apply payables documents to payments
Module 4: Intercompany Transactions
This module discusses the capabilities and use of intercompany transactions in Payables Management.
Lessons
- Define Intercompany Relationships
- Enter Intercompany Transactions
- Post Intercompany Transactions in General Ledger
- View Intercompany Transactions in Inquiry
After completing this module, students will be able to:
- Set up Intercompany relationships
- Enter Intercompany transactions
- Post Intercompany transactions
- Use inquiries to view intercompany transactions
Module 5: Maintaining Records
This module focuses on how to manage vendor relationships and the transaction data that you collect from purchasing transactions. Also included in this module is information about reporting and inquiry on vendors and transactions that are associated with purchasing.
Lessons
- Vendor and Transaction Holds
- Void Open Payables Transactions
- Void Historical Transactions
- Edit Payables Transactions
- Change or Delete Vendor Records
- Remove History
- Reconcile
- Use Inquiries
- Report Options and Printing
- Report Groups
Lab : Transaction HoldsLab : Void an Open TransactionLab : Void a Historical TransactionLab : Edit Transaction InformationLab : Delete a VendorLab : Remove History
After completing this module, students will be able to:
- Place and remove holds on vendors and transactions
- Void open and historical transactions
- Edit posted transactions
- Change and delete vendor records
- Remove historical payables information
- Perform a reconcile on payables data
- Inquire and report on transactions
Module 6: Period-End Procedures
This module discusses period-end closings and the recommended steps that must be completed at each closing. Many of the steps are optional.
Lessons
- Closing a Period
- Close the Calendar Year
- Close the Fiscal Year
Lab : Close Fiscal PeriodsLab : Year-End Closing
After completing this module, students will be able to:
- Complete period-end processes that are performed at the end of an accounting period
Complete year-end processes that are necessary to close a calendar or fiscal year