Finance for Microsoft Dynamics 365 BC & NAV | Qixas Group

Finance for Microsoft Dynamics 365 Business Central & NAV

This three-day course provides students with the tools to set up the financial management application area. It is comprised the Finance Essentials course and the Finance Advanced course, both of which are usually two days each separately. This course may be a component of the Business Central Core and Financials Boot Camp. The initial focus is on the key financial functions within the organization such as the Cash Management, the management of VAT, Journal development and transactions, the General Ledger, and Receivables and Payables Management. Additional advanced financial functions are explored such as multi-currency, budgets and financial reporting.

This course is intended for individuals that plan on implementing the the Finance module. The typical student has an ERP background and has a basic understanding of accounting principles.


Finance Essentials Course Details


Module 1: Finance Management Setup

This module explains the setup of the General Ledger and of the Accounting Periods. Lessons

  • General Ledger Setup
  • Accounting Periods
  • Create a Fiscal Year

After completing this module, students will be able to:

  • Explain and set up the fields on the General Ledger Setup window.
  • Explain and set up Accounting Periods

Module 2: Chart of Accounts

This module explains the importance and central nature of the general ledger and the chart of accounts in the operations of a business and how they function in Microsoft Dynamics NAV in particular.

  • Chart of Accounts Overview
  • G/L Account Card
  • G/L Account Card Ribbon

After completing this module, students will be able to:

  • Explain how to use the Chart of Accounts.
  • Explain the elements of the G/L Account Card.
  • Explain the elements of the G/L Account Card ribbon.
  • Explain the elements of the Chart of Account ribbon.

Module 3: General Journals

This module explains the general journal entry and posting system. Lessons

  • Creating and Posting Journal Entries.
  • Standard Journals.
  • Recurring Journals.
  • Processing Recurring Journals.

After completing this module, students will be able to:

  • Explain the general journal entry and posting system.
  • Create and post general journal entries.
  • Describe standard general journals.
  • Describe recurring general journals and include the fields and allocations.
  • Show how to use recurring journals with allocations and how to record accruals.
  • Explain how to reverse and correct journal entries.

Module 4: Cash Management

This module explains the cash management of receivables and payables.

  • Bank Account Overview.
  • Customer Overview.
  • Vendor Overview.
  • Cash Receipt Journal and Payment Journal Overview.
  • Suggest Vendor Payments.
  • Print and Post Payables Checks.
  • Voiding Checks.
  • Applying Payments.
  • Unapply Customer and Vendor Ledger Entries.
  • Reversal of Posted Journals.

After completing this module, students will be able to:

  • Describe the Bank Account Card.
  • Explain the Payments FastTab on the customer card.
  • Explain the Payments FastTab on the vendor card.
  • Show how to enter and post payments received from customers, by using cash receipt journals.
  • Show how to enter and post payments to vendors by using the payment journal.
  • Explain the Suggest Vendor Payments batch job.
  • Explain how to print and post payables checks.
  • Explain and show how to financially void a check.
  • Explain how to void and reprint computer checks.
  • Explain how to apply entries to customer and vendor ledger entries.
  • Explain how to unapply entries to customer and vendor ledger entries.
  • Explain how to reverse customer ledger entries posted by using journals.

Module 5: Cash Management and Bank Reconciliation

  • Bank Reconciliation
  • Complete a Bank Reconciliation

After completing this module, students will be able to:

  • Review the Bank Account Reconciliation window and the options for populating the bank reconciliation lines.
  • Show how to process a bank reconciliation.

Module 6: Payment discounts and payment tolerance

This module focuses on both receivables and payables

  • Set Up Payment Discounts.
  • Lesson 2 to 3: Process Payment Discounts.
  • Lesson 4 to 8: Set Up and Process Payment Tolerances.
  • Lesson 9: Review the Posted Payment Discount Tolerance and the Payment Tolerance Entries.
  • Lesson 10: Review Customer and Vendor Statistics.

After completing this module, students will be able to:

  • Set up Microsoft Dynamics NAV to use payment discounts.
  • Process transactions for various situations that benefit from payment discounts.
  • Set up Microsoft Dynamics NAV to use a payment discount tolerance.
  • Process transactions for various situations that benefit from using a payment discount tolerance.
  • Set up Microsoft Dynamics NAV to use a payment tolerance.
  • Process transactions for various situations that benefit from using a payment tolerance.
  • Review how a payment discount tolerance and a payment tolerance are reflected in the detailed customer and vendor ledger entries.

Module 7: Reminders and Finance Charge Memos

This module explains why, when, and how reminders and finance charge memos are used.

  • Set Up and Assign Reminder Terms.
  • Set Up and Assign Number Series for Reminders and Issue Reminders.
  • Create and Issue Reminders.
  • Set Up and Assign Finance Charge Terms.
  • Set Up and Assign Number Series for Finance Charge Terms.
  • Create and Issue Finance Charge Memos.
  • Calculate Interest on Reminders.
  • Lab : Create and Issue Reminders.
  • Lab : Set Up and Assign a Finance Charge Term.
  • Lab : Create and Issue Finance Charge Memos.

After completing this module, students will be able to:

  • Explain why and when Reminders and Finance Charge Memos are used.
  • Set up Microsoft Dynamics NAV to use reminders.
  • Explain how to create and issue reminders.
  • Set up Microsoft Dynamics NAV to use finance charge memos.
  • Explain how to create and issue finance charge memos.

Module 8: VAT

  • VAT Calculation Types
  • Display VAT Amounts in Sales and Purchase Documents
  • Manually Adjust VAT Amounts in Sales and Purchase Documents and Journals
  • Unrealized VAT
  • VAT Statements
  • VAT Settlement

After completing this module, students will be able to:

  • Explain the different VAT calculation types.
  • Show how to reverse a VAT charge.
  • Describe how to correct a posted VAT entry.
  • Show how to record Import VAT.
  • Explain the Prices Including VAT fields on sales and purchase documents.
  • Explain how to adjust calculated VAT amounts in sales and purchase documents and journals.
  • Describe unrealized VAT.
  • Explain, create, and print a VAT Statement.
  • Explain and run the Calc. and Post VAT Settlement batch job.

Module 9: Prepayments

This module explains the purpose and setup of prepayments. Lessons

  • Setting Up Prepayments
  • Set Up Prepayment Percentages for Customers and Vendors
  • Set Up Prepayment Percentages for Customer-Item and Vendor-Item Combinations
  • Set Up Prepayments Verification
  • Prepayments Processing Flows
  • Prepayment Sales and Purchase Orders Overview.
  • Process Prepayment Sales and Purchase Orders.
  • Prepayment Sales and Purchase Invoices.
  • Prepayment Purchase Order Process.

After completing this module, students will be able to:

  • Explain the requirements for setting up prepayments.
  • Set up and assign prepayment General Ledger accounts.
  • Set up prepayment numbering for sales and purchases.
  • Set up default prepayment percentages on customers and vendors.
  • Set up default prepayment percentages for Customer-Item and Vendor-Item combinations.
  • Set up prepayment posting verification for sales and purchases.
  • Explain the prepayment processing flows for sales and purchase orders.
  • Describe the prepayment-specific fields on sales and purchase orders.
  • Create sales and purchase orders with prepayment percentages and amounts.
  • Create prepayment invoices that are from sales and purchase orders.
  • Explain the processes available to correct posted prepayment invoices.

Module 10: Year end closing procedures

This module explains the closing process.

  • Closing a Fiscal Year

After completing this module, students will be able to:

  • Close the accounting periods for the fiscal year.
  • Explain and run the Close Income Statement batch job process.

Finance Advanced Course Details


Module 1: Intrastat

This module explains the setup of Intrastat and how to run and submit Intrastat reports. Lessons

  • Set up Intrastat.
  • Report Intrastat.
  • Lab : Create an Intrastat Report.

After completing this module, students will be able to:

  • Set up Intrastat for use in Microsoft Dynamics NAV.
  • Explain how to run and submit Intrastat reports.

Module 2: VAT Rate change tool

This module explains the VAT rate change process. Lessons

  • Prepare for VAT Rate Change Tool.
  • Set up Using VAT Rate Change Tool.
  • Perform VAT Rate Conversions.

After completing this module, students will be able to:

  • Explain and demonstrate the preparation of the VAT rate change process.
  • Explain and set up the VAT rate change tool.
  • Explain and demonstrate how to perform a VAT rate change.

Module 3: Multicurrency

This module explains the process in using the Multicurrency functionalities. Lessons

  • Currency Card and Exchange Rates.
  • Set Up Multicurrency for Customers, Vendors, and Bank Accounts<./li>
  • Lesson 3-5: Process Documents and Journals.
  • Adjust Exchange Rates Batch Job for Customers, Vendors, and Bank Accounts.
  • Lesson 7-9: Reporting Currency.
  • View the Exchange Rate Adjustment Register.
  • Summary of Currency Exchange Rates.
  • Lab : Process a Sales Invoice.
  • Lab : Post Expenses in Foreign Currency.
  • Lab : Update the USD:GBP Exchange Rate.

After completing this module, students will be able to:

  • Explain setup requirements for currencies and exchange rates when using multiple currencies.
  • Explain setup requirements using multiple currencies with customers, vendors, and bank accounts.
  • Describe steps and additional functionality for processing purchase and sales documents that use foreign currency.
  • Describe steps and additional functionality for recording and posting multicurrency transactions in the cash receipts journal.
  • Describe how to process multicurrency payments using the payments journal.
  • Describe how to run the Adjust Exchange Rates batch job for customers, vendors, and bank accounts.
  • Explain set up, viewing amounts, daily processing, and periodic processes when using an additional reporting currency.
  • Describe how to run the Adjust Exchange Rates batch job for G/L accounts.
  • Describe how to view the Exchange Rate Adjustment Register.

Module 4: Budgets

This module explains the Budget feature. 

  • Lesson 1-3: Creating Budgets.
  • Copying Budgets.
  • Exporting and Importing Budgets.
  • Lab : Create a budget.
  • Lab : Copy a budget.

After completing this module, students will be able to:

  • Explain the Budgets feature in Microsoft Dynamics NAV.
  • Explain the G/L Budgets page elements.
  • Show how to set up budgets manually.
  • Explain how to delete budget entries.
  • Explain how to create budgets by using the Copy Budget function.
  • Explain how to create budgets by using the Export Budget and Import Budget functions.

Module 5: Cost Accounting

This module explains the process on Cost Accounting. 

  • Workflow in Cost Accounting.
  • Setting Up Cost Accounting.
  • Cost Entries.
  • Cost Budgets.
  • Cost Allocation.
  • Cost Accounting History.
  • Cost Accounting Reporting.
  • Tips and Tricks.
  • Lab : Set Up a Cost Budget.
  • Lab : Set Up Cost Allocation.
  • Lab : Using Cost Journals.

After completing this module, students will be able to:

  • Explain the workflow in Cost Accounting.
  • Explain and set up Chart of Cost Types, Chart of Cost Centers, Chart of Cost Objects, and Cost Accounting
  • Setup.
  • Explain the relationship between the cost accounting and general ledger application areas.
  • Set up cost journals.
  • Explain how to create cost entries either through a transfer from G/L entries or through posting the cost journal.
  • Explain and set up cost budgets by using different copy functions.
  • Explain the transfer from budget to actual.
  • Explain and set up cost allocations.
  • Explain static and dynamic allocations.
  • Explain how to allocate costs and cost budgets.
  • Explain the cost registers and cost budget registers.
  • Explain the deletion of cost entries and cost budget entries.
  • Explain different cost accounting reports.
  • Provide tips and tricks.

Module 6: Cash flow forecast

  • This module explains the functions, the setup and the use of Cash Flow Forecast. Lessons
  • Functions of the Cash Flow Forecast
  • Setting Up Cash Flow Forecasts
  • Creating Cash Flow Forecasts
  • Cash Flow Forecast Reporting
  • Lab : Entering Manual Revenues and Expenses
  • Lab : Using the Cash Flow Worksheet
  • Lab : Printing the Cash Flow Date List
  • Lab : Creating a Cash Flow Forecast

After completing this module, students will be able to:

  • Explain the functions of the cash flow forecast.
  • Explain the setup of the Chart of Cash Flow Account, Cash Flow Setup and Cash Flow Payment Terms.
  • Explain how to create cash flow forecasts by using Cash Flow Forecast Cards and Cash Flow Manual
  • Revenues and Expenses.
  • Explain how the Cash Flow Worksheet is used.
  • Review the registration of the cash flow through Cash Flow Forecast Entries.
  • Explain the different Cash Flow Forecast Reporting possibilities.

Module 7: Financial reporting and analysis

This module explains processes related to cost account schedules, cash flow account schedules and how to generate report analysis.

  • Analyze the Chart of Accounts
  • Account Schedules
  • Analysis by Dimensions
  • Export Analysis Views to Microsoft Excel
  • Dimension-Based Reports
  • Combine Analysis Views with Account Schedules
  • Finance Performance Charts
  • Lab : Create a Cost Account Schedule
  • Lab : Create an Analysis View
  • Lab : Create a Cash Flow Analysis View
  • Lab : Export an Analysis View to Microsoft Excel
  • Lab : Combine an Analysis View with an Account Schedule
  • Lab : Create a Cash Flow Account Schedule
  • Lab : Create a Detailed Account Schedule

After completing this module, students will be able to:

  • Describe filtering and analysis pages related to the chart of accounts.
  • Explain how to set up an account schedule and explain other processes that relate to account schedules.
  • Demonstrate cost account schedules.
  • Demonstrate cash flow account schedules.
  • Describe types of dimensions.
  • Explain how to set up analysis views.
  • Explain the process of exporting analysis views to Microsoft Office Excel 2007, and describe the elements of the exported file.
  • Show how to generate analysis by dimensions and other dimension analysis reports.
  • Show how to set up a Finance Performance chart.

Module 8: XBRL

This module explains the concept of XBRL. Lessons

  • XBRL Terminology
  • XBRL Specifications and Taxonomies
  • Work with Linkbases
  • Enter XBRL Line Definitions
  • Export the XBRL Lines
  • Lab : Annual Reporting with XBRL

After completing this module, students will be able to:

  • Explain the terminology associated with XBRL.
  • Explain how to import and update taxonomies.
  • Explain how to attach, update, and apply linkbases to taxonomies.
  • Describe pages that are related to XBRL lines, and explain how to enter XBRL line definitions

Course ID: QIX1170
Duration: 3 Days
Price: CS$1950 US$1500
Reserve a Seat:

Jan 15-17
Feb 26-28

Course ID: QIX1170
Duration: 3 Days
Price: CS$1950 US$1500
Reserve a Seat:

Jan 15-17
Feb 26-28