General Ledger in Microsoft Dynamics GP

Course Description:

  The General Ledger in Microsoft Dynamics GP - 80572 course is a 1-day course that is designed for students who are interested in learning Microsoft Dynamics GP 2018. The course covers the new features in Dynamics GP 2018 and also the important capabilities of Dynamics GP in general.

Students will learn about the accounting cycle and the processes required to enter financial data into the system. Students will also learn how to set up general ledger accounts, enter general ledger transactions, and post the transactions. Additionally, the course covers how to perform functions such as account reconciliation, budgeting, allocation, period-end procedures and year-end closing procedures.

Topics covered in the course include:

• Customizing General Ledger settings
• Setting up a chart of accounts including posting, unit and allocation accounts
• Entering and posting transactions using transactional or batch posting methods
• Performing key inquiries and print reports in General Ledger
• Maintaining records in General Ledger
• Printing financial statements and other key reports to manage a business
• Completing period and year-end procedures

Target Student: This course is designed for students who want to expand their knowledge of Microsoft Dynamics GP. Students should be familiar with Windows, general accounting principles, and have taken the Introduction to Microsoft Dynamics GP course or have equivalent experience in Dynamics GP.

Section 1: Overview and Setup
This section provides a general overview of the features and benefits of using General Ledger in an integrated environment and focuses on how General Ledger integrates with other functional areas in the Microsoft Dynamics GP 2013 application. Additionally, this section focuses on the setup procedures and different types of accounts in General Ledger, along with how to define budgets for accounts using Microsoft Dynamics GP 2013 or Microsoft Excel.
Topics :
•Features and Benefits
•General Ledger Setup
•Account Categories
•Posting Account Setup
•Unit Account Setup
•Fixed Allocation Account Setup
•Variable Allocation Account Setup
•Account Segment Setup
•Mass Modify Chart of Accounts
•Define the Retained Earnings Account
•Set Up Budgets
•Budget Maintenance
•Combining Budgets
•Quick Journal Setup
•Transaction Matching Setup
•Entering Beginning Balances
Lab 1: Enter a Posting Account
Lab 2: Enter a Unit Account
Lab 3: Enter a Fixed Allocation Account
Lab 4: Enter a Variable Allocation Account
Lab 5: Account Segment Setup
Lab 6: Mass Modify Chart of Accounts
Lab 7: Create a Blank Budget in Excel
Lab 8: Importing a Budget from Excel
Lab 9: Quick Journal Setup

Section 2: Daily Procedures
This section covers the ways that transactions can be entered and posted in General Ledger. The section explores the difference between transaction level and batch level posting, and the methods for posting batches. Additionally, it demonstrates how to use clearing entries to transfer the balance of an account that is no longer being used to another account.
Topics :
•Batch Entry
•Transaction Entry
•Calculate Taxes in General Ledger
•Clearing Transaction Entry
•Budget Transaction Entry
•Quick Journal Entry
•Linking Transactions
•Batch Recovery
Lab 1: Transaction Entry, Unit Accounts
Lab 2: Transaction Entry, Allocation Accounts
Lab 3: Transaction Entry, Recurring Transactions
Lab 4: Clearing Entry
Lab 5: Budget Transaction Entry
Lab 6: Quick Journal Entry

Section 3: Additional Functionality
This section covers how to use Multidimensional Analysis, Intercompany functionality and set up Organizational Structures to use account security.
Topics :
•Multidimensional Analysis Groups and Codes
•Assign Analysis Groups to Accounts
•Multidimensional Analysis Transactions
•Define Intercompany Relationships
•Entering Intercompany Transactions
•Organizational Structures Setup
•Define Organizational Relationships
•Assign User Classes to the Organizational Structure
•Assign Users to the Organizational Structure
•Assign a Range of Accounts to the Organizational Structure
•Assign an Individual Account to the Organizational Structure
•Activating Account Security
Lab 1: Multidimensional Analysis
Lab 2: Organizational Structure Setup
Lab 3: Organizational Tree Setup
Lab 4: Organizational Structure, User Setup
Lab 5: Organizational Structure, Mass Assignment

Section 4: Maintaining Records
This section covers the functionality available to maintain General Ledger records. The section contains a lesson that focuses on correcting posted entries as well as changing and deleting account records. Information about the reconcile features in General Ledger are covered, including the capability of reconciling to other sub-ledgers. Inquiries and reports are also covered in this section.
Topics :
•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

Section 5: Period-End Closing
This section covers the process of closing an accounting period and the fiscal year. The steps necessary to complete each phase of the closing process are covered for the end of a period as well as a fiscal year. The section also looks at financial statements typically printed at the end of periods. Time is spent examining what actually takes place during the closing process and the two approaches that an organization may use for this process.
Topics :
•Period-End Closing
•Year-End Closing
•Quick Financial Statements
•Printing Financial Statements
•Advanced Financial Analysis
Lab 1: Quick Financial Setup
Lab 2: Quick Financial, Report Options

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