Payables Management in Microsoft Dynamics GP

Course Description:

  The Payables Management in Microsoft Dynamics GP - 80573 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 vendor invoices and process checks. Students will also learn how to perform additional functions such as adjustments, prepayments, month-end closing, and cash flow control. The course will explain how to define default values that auto populate data fields and how to gather the information needed to make better business decisions by using the inquiry and lookup functions.

Topics covered in the course include:

• Setting up Payables Management and identifing the customizable options available in the setup windows.
• Performing all Payables Management related data entry functions including vendor invoicing, check processing, recurring vouchers, and manual checks.
• Selecting documents for payment and make appropriate adjustments to payment amounts prior to check processing.
• Correcting input errors using the Edit Transaction Information window.
• Performing maintenance on Payables Management documents and other records such as vendors and recurring invoices.
• Understanding the steps and requirements to void checks and invoices.
• Using inquiries or print reports to verify data and perform financial analysis for audit trail purposes.
• Identifying the impact of Payables Management on other areas of Microsoft Dynamics GP

Target Student: This course is designed for students who want to learn the basic features and the typical day-to-day procedures required to effectively use Microsoft Dynamics GP Payables Management. Students will typically work in the one oft he follwoing roles: data entry clerks, administrators, office managers, CEOs, and consultants who need to understand the technical aspects of Payables Management.

Students should be familiar with Microsfot 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 Procedures
This section covers the required setup options to start using Payables Management in Microsoft Dynamics GP. It covers the general setup windows, and also key record setups including vendors and vendor classes.
Topics :
•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 1: Payables Management Setup
Lab 2: How to set up a New Vendor Class
Lab 3: How to sey up a New Vendor

Section 2: Daily Procedures
This section discusses the various types of transactions that can be entered in Payables Management. Transactions discussed include invoices, credit memos, debit memos and scheduled payment invoices.
Topics :
•Batch Entry
•Payables Transaction Entry
•Scheduled Payments Entry
•Post Scheduled Payments
Lab 1: Entering an Invoice
Lab 2: Entering and Paying an Invoice
Lab 3: Entering a Credit Memo
Lab 4: Payables Scheduled Payments

Section 3: Enteringing Payments
This section discusses how to enter payments made to vendors. It covers entering manual payments and generating checks to pay vendors.
Topics :
•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 1: Manual Payments, Credit Card
Lab 2: Manual Payments, Entering a Prepayment
Lab 3: Select Checks
Lab 4: Edit Payables Checks; Adding a Payment
Lab 5: Edit Payables Checks; Removing a Vendor/Voucher
Lab 6: Printing and Posting Checks
Lab 7: Applying Payables Documents

Section 4: Intercompany Transactions
This section covers the capabilities and use of intercompany transactions in Payables Management.
Topics :
•Define Intercompany Relationships
•Entering Intercompany Transactions
•Post Intercompany Transactions in General Ledger
•View Intercompany Transactions in Inquiry

Section 5: Maintaining Records
This section focuses on how to manage vendor relationships and the transaction data collected from purchasing transactions. Also included in this section is information about reporting and inquiry on vendors and transactions that are associated with purchasing.
Topics :
•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 1: Transaction Holds
Lab 2: Void an Open Transaction
Lab 3: Void a Historical Transaction
Lab 4: Edit Transaction Information
Lab 5: Delete a Vendor
Lab 6: Remove History

Section 6: Period-End Procedures
This section covers period-end closings and the recommended steps that must be completed at each closing. Many of the steps are optional.
Topics :
•Closing a Period
•Close the Calendar Year
•Close the Fiscal Year
Lab 1: Close Fiscal Periods
Lab 2: Year-End Closing

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