AX2012_ENUS_FINI_03

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  Chapter 3: Journal Setup 3-1 CHAPTER 3: JOURNAL SETUP Objectives The objectives are: ã   Set up journal names. ã   Set up journal controls. ã   Create journal texts. ã   Set up balance control accounts. ã   Set up General Ledger parameters. Introduction A journal is a worksheet that you can use before you enter postings into the system manually. Before you use financials in Microsoft Dynamics AX ® , review the setup procedures for journals in this course. The procedures explain the basic setup of journals such as journal names, controls, and texts. You can use journals quickly and efficiently when you set them up correctly.  Financials I in Microsoft Dynamics ®  AX 2012 3-2 Journal Setup There are manually generated journals and system generated journals in Microsoft Dynamics AX. Examples of system generated journals are allocation  journals and elimination journals. These journals are created automatically and are never created manually. Manual journals entries are generated by postings entered into the system such as a general journal entry. When you use a manual  journal entry the transactions are not posted immediately. Before you can post a manual entry, they can be the following states: ã   Changed ã   Reviewed ã   Approved ã   Deleted In Microsoft Dynamics AX, you can use journals to do the following: ã   Control different kinds of entries. You can apply an approval system so that special journals are posted only after they are approved. ã   Review data imported from external ledger systems. You can ensure that all valid fields contain a value and that all restrictions for the transaction are fulfilled. ã   Make sure that the necessary voucher series is set up before you create journals. You can set up number sequences and attach them to the appropriate references. Working with Journals Working with journals is divided into the following three steps: 1.   Set up journal names. Use the journal setup for all new journals by using the name listed in Journal names. This means all the journals use the voucher series, offset account, and other information that you set up. 2.   Create a new journal. Many of the modules in Microsoft Dynamics AX use journals for entering transactions. In General Ledger, use  journals for ledger posting. In Accounts Receivable, use journals for  postings. When you open a journal dialog box, create new journals  by using the template that is associated with the journal type. 3.   Create journal lines and post transactions. When a new journal is created, enter posting transactions in the journal and post it or transfer the journal for someone else to review and approve.  Chapter 3: Journal Setup 3-3 Journal Types The following are examples of journals: ã   Daily ã   Periodic ã   Invoice register ã   Approval ã   Customer payment  EXAMPLE  : Select a Daily journal type to create a journal for daily transactions. When you create new daily journals in General ledger >  Journals > Journal Names  , the journal names with the journal type of Daily appear in the Name list. Procedure: Create Journal Names - Overview Perform the following steps to set up journal names: 1.   To access the Journal names  form, click General Ledger , click Setup , click Journals , and then click Journal names . 2.   Enter a recognizable journal name in the Name field. 3.   Enter a description of the journal that clearly describes the purpose of the journal in the Description  field.  Financials I in Microsoft Dynamics ®  AX 2012 3-4 4.   Select the type of journal in the Journal type  list. The  journal type  determines what the journal is used for and in which module it is available. For example, the customer payment Journal type  is used only for customer payment journals. FIGURE 3.1 JOURNAL NAMES FORM Procedure: Create Journal Names - Approval The user responsible for journal routines sets up the approval system for each  journal where approvals will be used. Manual journal approval is available for all  journals in Microsoft Dynamics AX Perform the following steps to define approval options for a journal: 1.   Select a journal from the Journal names  form, and then click the General  tab. 2.   In the Approval  area, select the Active  check box if the journal must  be approved before it is invoiced. The approval system enables  journal transactions to be reported as one of the following: o   Ready o   Approved o   Rejected. 3.   Specify the users who can approve the journal in the Approve  list.  NOTE  : You can define approval options in the  Journal names  form on the Overview  tab.
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