Microsoft Dynamics GP Payables Management
Course 8509: One day;
Instructor-Led
Course Fee:
$499.00
Course Time: 1 day, 9:30 am - 4:30 pm, or 2 evenings, 6pm - 9pm
Introduction
The one-day Microsoft Dynamics GP Payables Management
course delves into 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 you
to capitalize on vendor discount dates to reduce payable
liabilities and easily select "the right" vouchers for
payment by date, vendor, number, or custom query to
control your cash outlay. You will learn to use
comprehensive reporting features to present data in
different ways, including many standard reports such as
Aged Accounts Payables, Vendor Trial Balance, and Vendor
Check Register. This course also teaches you how to
define default values that automatically populate data
fields and gather the information you need to make
better business decisions by exploring powerful inquiry
and lookup functions.
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.
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 should be able
to:
| • |
Perform all Payables Management related data
entry functions including vendor invoicing,
check processing, recurring vouchers, and manual
checks
|
| • |
Perform maintenance on payables management
documents and other records such as vendors and
recurring invoices
|
| • |
Select documents for payment and make
appropriate adjustments to payment amounts prior
to check processing
|
| • |
Print standard reports to verify data and
financial analysis for audit trail purposes
|
| • |
Identify the impact of the Payables
Management module on other Microsoft Dynamics GP
modules
|
| • |
Troubleshoot and correct input errors
including an incorrect posting period and how to
void checks
|
Prerequisites
Before attending this course, students must have:
| • |
General knowledge of Microsoft Windows
|
| • |
knowledge of accounting principles
|
Student Materials
The student materials include a comprehensive
workbook and other necessary items for this class.
Course Outline
Chapter 1: Payables Management Overview
This chapter gives students a general overview of the
features and benefits of using the Payables Management
module in an integrated environment. It also focuses on
how this module integrates with other modules in the
Microsoft Dynamics GP application.
Main Topics
| • |
Payables Management Features and Benefits
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| • |
Payables Management Overview and Roadmap
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| • |
Integration
|
After completing this chapter, students should be
able to:
| • |
Identify the features and benefits available
when using Payables Management.
|
| • |
Discuss integration that takes place between
Payables Management and other modules within
Microsoft Dynamics GP.
|
| • |
Identify the navigation used to access the
windows for transactions, reports, utilities,
routines, and inquiries in Payables Management.
|
Chapter 2: Setup Procedures
This chapter focuses on the setup procedures for the
Payables Management module. We examine in detail the
options available to customize this module to reflect
the way your organization does business. Time is spent
discussing the benefits of using vendor classes to
organize and ease data entry. You set up vendors so that
you can track the information that is crucial in your
company. The last step is to enter Beginning Balances
for each vendor in preparation for using the Payables
Management module. Once your Payables Management setup
has been defined, there are many reports available to
document the selected preferences.
Main Topics
| • |
Payables Management Setup Checklist
|
| • |
Company and Posting Setup Procedures
|
| • |
Payables Management Setup and Options
|
| • |
Vendor Class Maintenance
|
| • |
Vendor Class Accounts
|
| • |
Vendor Maintenance
|
| • |
Vendor Maintenance Options
|
| • |
Vendor Account Maintenance
|
| • |
Payables Management Setup Report
|
| • |
Beginning Balances
|
| • |
Vendor History
|
Labs
| • |
Modify Existing Payables Management Setup
Selections
|
| • |
Set up a Vendor Class
|
| • |
Add a New Vendor Record
|
After completing this chapter, students should be
able to:
| • |
Customize settings for the Payables
Management module.
|
| • |
Create Vendor Classes and assign vendors
appropriately.
|
| • |
Create Vendor Records.
|
| • |
Enter beginning balances for each vendor.
|
Chapter 3: Daily Procedures
This chapter defines the ways transactions are
entered and posted in Payables Management. You explore
the difference between transaction level and batch level
posting, and the methods for posting batches. This
chapter demonstrates the many types of transactions that
can be entered in Payables Management. Entering
Scheduled Payments and performing "What If" analysis is
covered in this section. In addition to these topics the
chapter covers creating and printing single computer
checks as well as processing batches of computer checks.
Main Topics
| • |
Transaction Entry Overview
|
| • |
Posting Overview
|
| • |
Batch Entry
|
| • |
Entering Transactions
|
| • |
Printing a Check
|
| • |
Applying Documents
|
| • |
Using Multidimensional Analysis
|
| • |
Scheduled Payments Checklist
|
| • |
Scheduled Payments Entry
|
| • |
Manual Payments
|
| • |
Process Computer Checks
|
| • |
Selecting Documents for Payment
|
| • |
Editing Payables Checks & Check Batches
|
| • |
Printing and Posting Checks
|
| • |
Apply Payables Documents
|
| • |
Batch Recovery
|
Labs
| • |
Enter and Post an Invoice
|
| • |
Enter an Invoice and Create a Check Within
the Same Transaction
|
| • |
Print the Check
|
| • |
Post Transactions
|
| • |
Enter and Apply a Credit Memo
|
| • |
Create a Payment Schedule for a Recent
Purchase from a Vendor
|
| • |
Enter a Credit Card Payment to Pay off an
Invoice and Apply the Payment
|
| • |
Enter a Prepayment and Post the Payment
|
| • |
Create a Batch, Select Vouchers for Payment,
Print the Batch Edit List
|
| • |
Add / Remove Additional Vouchers for an
Existing Check Batch
|
| • |
Print and Post a Check Batch
|
| • |
Apply a Manual Payment to an Invoice
|
After completing this chapter, students should be
able to:
| • |
Enter and post transactions using the
transaction level or batch posting method Enter
the different types of transactions in Payables
Management
|
| • |
Enter manual payments and prepayments for
their vendors
|
| • |
Create and print single computer checks
|
| • |
Create and print batches of computer checks
|
Chapter 4: Intercompany Transactions
This chapter shows you how to record transactions in
one company that creates transactions in another
company's Payables Management. You examine the terms
specific to Intercompany Processing and demonstrate the
accounts that must be created to allow these types of
transactions to be entered and posted.
Main Topics
| • |
Intercompany Processing overview
|
| • |
Defining Intercompany relationships
|
| • |
Entering Payables Management Intercompany
Transactions
|
| • |
Post Intercompany Transactions in General
Ledger
|
| • |
Posting Intercompany Transactions in the
Destination Company
|
| • |
Viewing the Intercompany Transactions in
Inquiry
|
| • |
Voiding Intercompany Transactions in Payables
Management
|
After completing this chapter, students should be
able to:
| • |
Set up Intercompany relationships
|
| • |
Enter intercompany transactions in the
origination company
|
| • |
Post intercompany transactions in the
destination company
|
| • |
Trace intercompany transaction back to the
originating entry
|
Chapter 5: Maintaining Records
This chapter examines the functionality available to
maintain your Payables Management records. There is also
a section that focuses on placing and removing holds
from vendors and transactions. The process to void open
and historical transactions is covered in detail in this
section. Time is spent discussing the procedure for
changing and deleting records. We look at how to remove
historical information from Microsoft Dynamics GP and
the effects of removing this history. Retrieving
information is also a focus of this chapter. Time is
also spent discussing the inquiry windows and reports
that can be generated from the Payables Management
module.
Main Topics
| • |
Place or Release Holds
|
| • |
Void Open Payables Transactions
|
| • |
Void Historical Transactions
|
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Change and Delete Vendors
|
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Remove History
|
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Reconcile
|
| • |
Retrieve Information
|
| • |
Creating Report Options
|
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Creating and Printing Report Groups
|
Labs
| • |
Place an invoice on hold
|
| • |
Enter, Post, and Void and Invoice
|
| • |
Void a Historical Payables Transaction
|
| • |
Add Additional Information to Posted
Documents
|
| • |
Delete a Vendor Record
|
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Remove Transaction and Distribution History
|
| • |
Reconcile Payables Accounts for all Vendors
|
After completing this chapter, students should 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 utilities for your payables data.
|
| • |
Inquire and report on transactions.
|
Chapter 6: Period-end Procedures
This chapter examines the processes you complete at
the end of the month, period, calendar, and fiscal year.
This chapter focuses on the errors that may cause
Payables Management to be out of balance with the
General Ledger.
You look at the reports that should be printed prior
to performing the closing process. Time is spent
examining what actually takes place during the closing
process and the two types of closings: calendar year and
fiscal year.
Main Topics
| • |
Period-end Checklist
|
| • |
Reconcile Payables Management to General
Ledger
|
| • |
Closing the Fiscal Period
|
| • |
Calendar Year-end Closing
|
| • |
Printing 1099 Statements
|
| • |
Fiscal Year-end Closing
|
| • |
Tax Year-end Close
|
Labs
| • |
Close all Origins in Payables Management
Except Transaction Entry
|
| • |
Close an Individual Period for the Purchasing
Series
|
| • |
Close the Calendar and Fiscal Year for
Payables Management
|
| • |
Review the Vendor Yearly Summary for Your
Vendors
|
After completing this chapter, students should be
able to:
| • |
Complete the processes that are performed at
the end of an accounting period
|
| • |
Complete the processes that performed at the
end of a calendar or fiscal year
|
| • |
Perform the Year-end closing process
|
Appendix A: SmartList
This appendix discusses the use of SmartList to
access financial data. There are optional exercises that
can be completed by students if time permits.
Main Topics
| • |
Using SmartLists
|
| • |
Creating Objects
|
| • |
Using the Search Button
|
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Saving New Objects as Favorites
|
Lab:Vendors
| • |
Create a SmartList Inquiry for Vendors
|
| • |
Create a SmartList Inquiry for Vendor
Addresses and Export Results to Microsoft Word
|
| • |
Create a SmartList Inquiry for Payables
Transactions, Add Additional Search Criteria,
and Save as a Favorite
|
After completing this appendix, students should be
able to:
| • |
Use SmartLists to access valuable financial
data
|
| • |
Create new SmartList objects
|
| • |
Use the Search button to manage the
information in a view
|
| • |
Explain the various options that are
available when using SmartLists
|
Appendix B: Payables Management Case Study
This case study is a comprehensive lab used to
reinforce the concepts learned in the Payables
Management class.
Main Topics
| • |
Posting Setup
|
| • |
Payables Management Setup
|
| • |
Creating Vendor Records
|
| • |
Entering Transactions and Performing
Inquiries
|
| • |
Editing posted transactions
|
| • |
Create/Edit/Print/Post Checks
|
| • |
Void Open and Historical transactions
|
| • |
Printing Historical Aged Trial Balance Report
|
| • |
Place vendor on hold
|
| • |
Remove History
|
| • |
SmartList
|
After completing this appendix, students should be
able to:
| • |
Understand the necessary processes to set up
and manage their Payables Management module
|
| • |
Have more confidence in their ability to use
Payables Management in their company
|
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