1 Day Course
Introduction
The one-day Microsoft Dynamics GP Payables Management course examines the
accounting cycle and the processes required to enter vendor invoices and
process checks. This course also shows 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 payable liabilities and easily select the right
vouchers for payment by date, vendor, number, or custom query to control cash
outlay. This course teaches how to use comprehensive reporting features that present
data in different ways, including many standard reports and inquiry windows.
This course also provides guidance on 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.
Audience Profile
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:
•
Set up the Payables Management module 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.
•
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.
•
Correct input errors using the Edit Transaction
Information window.
•
Understand the steps and requirements to void
checks and invoices
Prerequisites
Before attending this course,
students must have:
- General knowledge of Microsoft Windows
- Knowledge of accounting principles
Course Outline
Module 1: Overview and Setup Procedures
This chapter provides students
with a general overview of the features and benefits of using the Payables
Management module in an integrated environment. Module integration is also
discussed. This chapters main focus is on the setup procedures that need to be
completed for Payables Management. This chapter also examines in detail the
setup options available to customize this module to reflect the way an
organization does business. Time is spent discussing the benefits of using
vendor classes to organize and ease data entry of vendors. Information about
entering beginning balances is also discussed.
Lessons
- Features and Benefits
- Integration
- Payables Management Setup
- Payables Setup Options
- Vendor Class Maintenance
- Vendor Class Accounts
- Vendor Maintenance
- Vendor Maintenance Options
- Vendor Address Maintenance
- Vendor Account Maintenance
- Beginning Balances
- Vendor History
Lab : Payables Management Setup
Lab : Setting Up a New Vendor Class
Lab : Setting Up a New Vendor
Lab : Payables Management Setup
Lab : Setting Up a New Vendor Class
Lab : Setting Up a New Vendor
After completing this chapter,
students will 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.
- Customize settings for the Payables Management module.
- Create Vendor Classes and assign vendors appropriately.
- Create Vendor Records.
- Enter beginning balances for each vendor.
Module 2: Daily Procedures
This chapter explores the
different ways transactions are entered and posted in Payables Management. The
difference between transaction level and batch level posting is discussed, and
the available methods for posting batches. This chapter discusses the many
types of transactions that can be entered in Payables Transaction Entry,
including printing a check. Entering and posting Scheduled Payments is also
covered in this chapter.
Lessons
- Batch Entry
- Payables Transaction Entry
- Printing a Check in Payables Transaction Entry
- Scheduled Payments Entry
- Post Scheduled Payments
Lab : Enter an Invoice
Lab : Enter and Pay an Invoice
Lab : Enter a Credit Memo
Lab : Payables Scheduled Payments
After completing this chapter,
students will 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 Scheduled Payment transactions.
Module 3: Entering Payments
This chapter discusses entering
manual payments and creating and printing computer checks as well as the
processing steps for batches of computer checks. Applying payments to documents
is also a topic discussed in this chapter.
Lessons
- Payables Manual Payment Entry
- Select Checks
- Edit Payables Checks
- Edit Payables Check Batches
- Print and Post Checks
- Apply Payables Documents
- Batch Recovery
After completing this chapter,
students will be able to:
- Enter manual payments and prepayments for vendors.
- Select invoices to pay and print computer checks.
- Post batches of computer checks.
Module 4: Intercompany Transactions
This chapter shows how to record transactions
in one company that create transactions in another companys Payables
Management. This chapter also examines the terms specific to Intercompany
Processing and demonstrates the accounts that must be created to allow these
types of transactions to be entered and posted.
Lessons
- Define Intercompany Relationships
- Enter Intercompany Transactions
- Post Intercompany Transactions in General Ledger
- View Intercompany Transactions in Inquiry
After completing this chapter,
students will be able to:
- Set up Intercompany relationships.
- Enter Intercompany transactions in the origination company.
- Post Intercompany transactions.
- Use inquiries to view intercompany transactions.
Module 5: Maintaining Records
This chapter examines the
functionality available to maintain Payables Management records. There is also
a lesson that focuses on placing and removing holds from vendors and
transactions. The process to void open and historical transactions is covered
in detail. Time is spent discussing the procedure for changing and deleting
vendors and their related records. The chapter also looks at how to remove
historical information from Microsoft Dynamics GP and the effects of removing
this history, retrieving information, and the inquiry windows available in the
Payables Management module.
Lessons
- Vendor and Transaction Holds
- Void Open Payables Transactions
- Void Historical Transactions
- Change or Delete Vendor Records
- Remove History
- Reconcile
- Using Inquiries
- Report Options and Printing
- Report Groups
After completing this chapter,
students will 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 a reconcile on payables data.
- Inquire and report on transactions.
Module 6: Period-End-Procedures
This chapter examines the
processes to complete at the end of the month, period, calendar, and fiscal
year in Payables Management.
Lessons
- Closing a Period
- Closing the Calendar Year
- Printing 1099 Statements
- Closing the Fiscal Year
- Tax Year-End Close
Lab : Close Fiscal Periods
Lab : Year-End Closing
After completing this chapter,
students will be able to:
- Complete the processes that are performed at the end of an
accounting period.
- Complete the processes that are performed at the end of a calendar
or fiscal year.
- Perform the Year-End closing process.
Module 7: Appendix: Job Aids
This appendix includes job aids
that are used in Payables Management.
Module 8: Appendix: Case Study
This case study is a
comprehensive lab that can be used to reinforce the learning that occurred
throughout the Payables Management class
