Microsoft Dynamics GP Payables Management
Course 8509: One days;
Instructor-Led
On This Page
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 |
| • |
Payables Management
Overview and Roadmap |
| • |
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 |
| • |
Change and Delete
Vendors |
| • |
Remove History |
| • |
Reconcile |
| • |
Retrieve Information |
| • |
Creating Report Options |
| • |
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 |
| • |
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 |
| • |
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 |
