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Introduction
In Microsoft Dynamics AX, companies use the Cash and Bank Management module to create and maintain bank accounts. The bank account table contains a record for each bank account. Each record contains bank account information, such as the following: Registration number and account number Address Other contact information Currency Check set up Main account for posting
The application uses this information to process all bank transactions, such as payments and deposits. To use the Cash and Bank Management module, set up the following: Bank transaction types Bank transaction groups Bank groups Cash and bank parameters Bank accounts Checks
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Lab 7.1 - Create Bank Transaction Types and Bank Transaction Groups
Scenario Annie, the bookkeeper at Contoso, must create a bank transaction type for cash withdrawals. In addition, Contoso wants the option to analyze the total charges paid to each bank. Annie will create an additional bank transaction group for bank fees and interest charges.
Challenge Yourself!
Help Annie by creating a new bank transaction type of 20 for cash withdrawals and a new bank transaction group of 80.
Step by Step
Create a bank transaction type for cash withdrawals. 1. Click Cash and bank management, click Setup, and then click Bank transaction types. 2. Click the New button to insert a new record. 3. In the Bank transaction type field, enter 20. 4. Enter the name Cash Withdrawal in the Name field. 5. Type in 110110 in the Main account field. 6. Close the Bank transaction type form. Create a bank transaction group for bank charges. 1. Click Cash and bank management, click Setup, and then click Bank transaction groups. 2. Click the New button to insert a new record. 3. In the Bank transaction groups field, enter 80. 4. Enter Bank Charges in the Description field. 5. From the Bank transaction groups form click the Type FastTab.
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Bank Groups
Use bank groups when several bank accounts share the same address information or routing number. When you create a new bank account and enter the bank group, the bank group information is copied to the account automatically. For example, you can create a bank group for one financial institution at which five accounts are open.
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7. Click the Address FastTab and enter the address for the bank. 8. Click the Contact information FastTab and enter the information for the bank group's contact person.
Bank Accounts
Enter and maintain all information for the company bank accounts in the Bank accounts form. Use the options on the form to view the details for each bank account, such as transactions, current balance, and checks that have been created.
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Active Status
Use the Active fields to enter specific dates when the bank account becomes active. The following two fields are optional and available if the Bank account status field is set to Active for all transactions: Active from: enter the date when the bank account will become active and be available for new transactions. If you do not enter a date, the bank account is immediately available for new transactions. Active to: enter the date when the bank account will no longer be active for new transactions. Any existing transactions that are not completed by this date, such as pending payments, will still occur as they were originally scheduled. If you do not enter a date, the bank account remains active indefinitely.
Use the Bank account status to select the status to use for the bank account. Active for all transactions - the bank account is active and available for all transactions. Inactive for new transactions - no new transactions can be scheduled for this bank account. Existing transactions that have not yet been completed, such as pending payments, will still occur as they were originally scheduled. Inactive for all transactions - no transactions, either new or existing, can be scheduled or processed for this bank account.
Credit Limit
If the bank uses credit limits for this account, use the Credit limit field to enter the amount that the bank offers for this account.
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For the bank account: o o o o The bank account name is Bank Account - CNY. The bank account is part of the Chinese Trade Bank group. The bank account number is 433090321489. Postings should use a new balance account called Bank account CNY.
Challenge Yourself!
1. Create the new bank group. 2. Create the new bank account.
Step by Step
Create a new account for Cash in bank - CNY to the Chart of accounts. 1. Click General ledger, click Common, and then click Main accounts. 2. Click the Main account button to create a new record. 3. In the Main account field, enter 110115. 4. In the Name field, enter Bank Account CNY. 5. Click the General FastTab and select Balance sheet in the Main account type field.
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Check Layout
Use the Check layout form to set up the check layout for the bank accounts. You can define a different check layout for each bank account.
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NOTE: The MICR line can be included only if the check is to be printed on blank paper without preprinted information, such as watermarks.
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Challenge Yourself!
1. Define the check layout for CNYBANK. 2. Preview the check layout.
Step by Step
1. Click Cash and bank management, click Common, and then click Bank Accounts. 2. Double-click the line for CNYBANK. 3. Click the Setup tab, then click the Check button on the Action Pane. 4. In the Check number method field, select Free, because pre-printed checks are not used. 5. In the Check form field, select U.S. check format. 6. In the Paper length field, enter 8.5. 7. In the Paper length unit field, select Inch. 8. In the Check start position field, enter 2. 9. In the Unit for the start position of the check field, select Inch. 10. In the Number of slip copies field, enter 2.
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Summary
This course focuses on how banking functions are structured in Microsoft Dynamics AX. Companies define bank transaction types to manage transactions, such as the following: Deposits Fees Payments
Companies then create groups of transaction types for analysis and reporting. In Microsoft Dynamics AX, companies have the option to create bank groups for banks in which they hold more than one bank account. The bank account window holds all the information about each company bank account and provides quick access to detailed information about each account, which includes transactions and current balance. For each bank account from which checks are printed, companies define how the checks for that account will look.
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3. If you are using pre-printed checks, what method do you select in the Check number method field? ( ) Variable ( ) Fixed ( ) Print ( ) Original 4. How many signatures can the application print on a check? (Select all that apply) ()1 ()2 ()3 ()4
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Solutions
1. What is a Bank Transaction Group? MODEL ANSWER: A bank transaction group is used to set up groups of different bank transaction types. In the bank statement reconciliation, totals can be calculated for each bank transaction group and for each bank transaction type. 2. What is a Bank Group? MODEL ANSWER: A bank group is used when several bank accounts share the same address information or routing number. When you create a new bank account and enter the bank group, the bank group information is copied to the account automatically.. 3. If you are using pre-printed checks, what method do you select in the Check number method field? ( ) Variable () Fixed ( ) Print ( ) Original 4. How many signatures can the application print on a check? (Select all that apply) () 1 () 2 ()3 ()4
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