Microsoft Dynamics AX 2012 Financial Management
Format: PDF / Kindle (mobi) / ePub
An indispensable collection of tips, instructions, and examples, this book will enhance your financial management through the best use of Microsoft Dynamics AX. Covers both basic and advanced concepts.
- Understand the financial management aspects in Microsoft Dynamics AX
- Successfully configure and set up your software
- Learn about real-life business requirements and their solutions
- Get to know the tips and tricks you can utilize during analysis, design, deployment, and operation phases in a project lifecycle
Microsoft Dynamics AX software solutions for financial management give you a way to raise the visibility of financial metrics and increase the effectiveness of your financial management. With AX you can gain an insight into financial performance and plan strategically. You will be able to make informed decisions through the handling of revenue, payments, receipts, and cash flow. You can access real-time information across the organisation; Dynamics AX has easy-to use inquiry tools, plus powerful analysis and reporting capabilities.
Throughout the course of a Microsoft Dynamics AX implementation, you may need advice on how to best utilize the software to meet your specific business needs. Microsoft Dynamics AX Financial Management is a complete solution to all of your implementation queries, and it shows you how to fully utilize Dynamics AX to suit your specific financial management needs.
This book is a practical guide that aims to give you a comprehensive insight into financial management using Microsoft Dynamics AX.
Throughout this book, you will find discussions of the functionality provided by Dynamics AX as well as basic setups, configurations, integration points, and controls. This book covers opening balances migration best practices, closing procedures, and bank reconciliation, which are common topics that arise during the implementation of any project.
You will also learn about cash flow models and transactions, inventory costing models, the DAX costing mechanism, and financial dimension business values to ensure the accuracy of data entry and to monitor company performance through reporting and analysis.
What you will learn from this book
- Examine the business logic behind Microsoft Dynamics AX financial functionality
- Set up and configure the core modules of financial management
- See the impact of control points on daily transactions
- Plan and execute an opening balances migration and use the inventory costing mechanism
- Understand the essential business needs of financial dimensions, reporting, and analysis
This book is a practical, hands-on guide that covers both the basic and advanced concepts of financial management using Microsoft Dynamics AX.
Who this book is written for
Microsoft Dynamics AX Financial Management is for Microsoft Dynamics AX solution architects, application consultants, support engineers, pre-technical sales consultants, and project managers on the partner side, as well as chief financial officers, financial controllers, accounting managers, key users, business analysts, and chief information officers on the customer side. A basic knowledge of financial terms, concepts, and Microsoft Dynamics AX terminologies will help you better understand the concepts covered in this book.
the controllership to make him/her aware of this treatment. This mechanism is as follows: • The generated voucher entry, which represents the product receipt, inherits the financial dimensions from Purchase order lines • The generated voucher entry, which represents the invoice, inherits the financial dimensions from Purchase order header [ 101 ] Exploring Financial Dimensions Creating financial dimensions There was an obstacle facing the implementation team in assigning master data to
following screenshot: To access financial dimension sets, navigate to General ledger | Setup | Financial dimension | Financial dimension sets. The trial balance is one of the major financial reports where it will be able to generate a transaction's trial balance for all the main accounts. In Microsoft Dynamics AX 2012, this report is converted to a form. To access the trial balance, navigate to General ledger | Common | Trial balance as shown in the following screenshot: [ 113 ] Exploring
users. In this kind of resource-constrained situation, the segregation of duties and control concepts are breached and the ERP solution is negatively impacted for the end users and key users. In these situations, the root cause of the concern is not the functionalities of ERP but the lack of allocated resources. The two other important models of reporting are pulling and pushing reports. Pulling of reports refers to the active requesting of reports by operational managers for the lowest
which is used for reporting and classifying caption totals. Microsoft Dynamics AX main accounts types Assets Liability Balance sheet Balance accounts Profit and loss Profit and loss accounts Expense Revenue Totals Total Header Reporting Income statement Equity Page header Reporting Transactional accounts Nontransactional accounts Main account types Balance sheet Empty header The transactional accounts that carry posted transactions on the application maintain a record of all the
consultants should ensure the setup of the required fields in the data-collection template that he/she will use in order to upload the opening balance. • The accountant who will fill in the opening balance data collection sheet must understand the fields and how he/she will fill them in. • Create a separate journal name under the general ledger journal and voucher number sequence for easier tracking. • Create separate journal names under Inventory Management (the movement journal) and voucher