Duration: 1 Day
This course examines the accounting cycle and the processes required to enter vendor invoices and process checks. You will learn 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. You will learn 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.
What You Will Learn
- 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
Audience
- 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
- Data entry clerks, administrators, office managers, CEOs, and consultants who need to understand the technical aspects of Payables Management
Prerequistes
- A working knowledge of Microsoft Windows
- Knowledge of basic accounting principles
Course Outline
1. Overview and Setup Procedures
- 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
2. Daily Procedures
- Batch Entry
- Payables Transaction Entry
- Scheduled Payments Entry
- Post Scheduled Payments
3. Entering Payments
- Payables Manual Payment Entry
- Computer Checks - Select Checks
- Edit Payables Checks
- Edit Payables Check Batches
- Print and Post Checks
- Apply Payables Documents
- Batch Recovery
4. Intercompany Transactions
- Define Intercompany Relationships
- Enter Intercompany Transactions
- Post Intercompany Transactions in General Ledger
- View Intercompany Transactions in Inquiry
5. Maintaining Records
- 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
6. Period-End Procedures
- Closing a Period
- Close the Calendar Year
- Close the Fiscal Year
Course Labs
Lab 1: Payables Management Setup
Lab 2: Setting up a New Vendor Class
Lab 3: Setting up a New Vendor
Lab 4: Enter an Invoice
Lab 5: Enter and Pay an Invoice
Lab 6: Enter a Credit Memo
Lab 7: Payables Scheduled Payments
Lab 8: Manual Payments, Credit Card
Lab 9: Manual Payments, Enter a Prepayment
Lab 10: Select Checks
Lab 11: Edit Payables Checks; Adding a Payment
Lab 12: Edit Payables Checks; Removing a Vendor/Voucher
Lab 13: Printing and Posting Checks
Lab 14: Applying Payables Documents
Lab 15: Transaction Holds
Lab 16: Void an Open Transaction
Lab 17: Void a Historical Transaction
Lab 18: Edit Transaction Information
Lab 19: Delete a Vendor
Lab 20: Remove History
Lab 21: Close Fiscal Periods
Lab 22: Year-End Closing
