Table of Contents

Introduction to Finance in microsoft dynamics™ NAV 5.0 1

Elements of Training Materials for Microsoft Dynamics ........................................ 4
About This Training Material.................................................................................. 6
Student Objectives ................................................................................................ 8
Chapter 1: Financial Management Setup 1
Objectives.............................................................................................................. 1
Introduction............................................................................................................ 1
General Ledger Setup ........................................................................................... 2
Accounting Periods ............................................................................................... 7
Lab 1.1: Create a Fiscal Year.............................................................................. 10
Lab 1.1: Create a Fiscal Year.............................................................................. 11
Trail Codes .......................................................................................................... 11
Summary ............................................................................................................. 15
Test Your Knowledge .......................................................................................... 16
Lab 1.1 Solution: Create a Fiscal Year................................................................ 17
Quick Interaction: Lessons Learned .................................................................... 18
Solutions.............................................................................................................. 19
Chapter 2: General Ledger 1
Objectives.............................................................................................................. 1
Introduction............................................................................................................ 1
Chart of Accounts Overview .................................................................................. 2
G/L Account Card Overview .................................................................................. 2
Lab 2.1: Create a Revenue Account ..................................................................... 9
Lab 2.1: Create a Revenue Account ................................................................... 10
Chart of Accounts Window Overview .................................................................. 11
Lab 2.2: Create a VAT Account........................................................................... 15
Lab 2.2: Create a VAT Account........................................................................... 16
General Ledger Budgets Overview ..................................................................... 17
Budget Window Overview ................................................................................... 18
Create Budgets Manually .................................................................................... 23
Lab 2.3: Create a Budget .................................................................................... 28
Lab 2.3: Create a Budget .................................................................................... 29
Copy Budgets ...................................................................................................... 29
Lab 2.4: Copy a Budget....................................................................................... 34
Lab 2.4: Copy a Budget....................................................................................... 35
Export and Import Budgets.................................................................................. 36
Lab 2.5: Export and Import a Budget................................................................... 41
Lab 2.5: Export and Import a Budget................................................................... 42
Summary ............................................................................................................. 44
Test Your Knowledge .......................................................................................... 45
Lab 2.1 Solution: Create a Revenue Account ..................................................... 47
Lab 2.2 Solution: Create a VAT Account............................................................. 48
Lab 2.3 Solution: Create a Budget ...................................................................... 49
Lab 2.4 Solution: Copy a Budget......................................................................... 50
Lab 2.5 Solution: Export and Import a Budget..................................................... 51
Quick Interaction: Lessons Learned .................................................................... 54
Solutions.............................................................................................................. 55

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Finance in Microsoft Dynamics™ in NAV 5.0

Chapter 3: General Journals 1

Objectives.............................................................................................................. 1
Introduction............................................................................................................ 1
Journal Overview................................................................................................... 2
Creating and Posting Journal Entries .................................................................... 7
Lab 3.1: Create a Journal Entry .......................................................................... 13
Lab 3.1: Create a Journal Entry .......................................................................... 14
Recurring Journals Overview .............................................................................. 15
Processing Recurring Journals............................................................................ 22
Lab 3.2: Create and Post a Recurring Journal .................................................... 27
Lab 3.2: Create and Post a Recurring Journal .................................................... 28
Lab 3.3: Create and Post a Recurring Journal Using the Balance Method ......... 29
Lab 3.3: Create and Post a Recurring Journal Using the Balance Method ......... 30
Reversals and Corrections .................................................................................. 31
Summary ............................................................................................................. 35
Test Your Knowledge .......................................................................................... 36
Lab 3.1 Solution: Create a Journal Entry ............................................................ 38
Lab 3.2 Solution: Create and Post a Recurring Journal ...................................... 39
Lab 3.3 Solution: Create and Post a Recurring Journal Using the Balance
Method ................................................................................................................ 41
Quick Interaction: Lessons Learned .................................................................... 43
Solutions.............................................................................................................. 44
Chapter 4: Cash Management 1
Objectives.............................................................................................................. 1
Introduction............................................................................................................ 1
Bank Account Card Overview................................................................................ 2
Lab 4.1: Create a Bank Account............................................................................ 7
Lab 4.1: Create a Bank Account............................................................................ 8
Entering and Posting Receivables Payments........................................................ 9
Lab 4.2: Apply and Post Cash Receipts .............................................................. 12
Lab 4.2: Apply and Post Cash Receipts .............................................................. 13
Entering and Posting Payables Checks .............................................................. 14
Lab 4.3: Enter and Post Manual Checks ............................................................. 21
Lab 4.3: Enter and Post Manual Checks ............................................................. 22
Lab 4.4: Suggest Vendor Payments for a Single Vendor .................................... 23
Lab 4.4: Suggest Vendor Payments for a Single Vendor .................................... 24
Financially Voiding Checks ................................................................................. 25
Lab 4.5: Financially Void a Check ....................................................................... 28
Lab 4.5: Financially Void a Check ....................................................................... 29
Bank Reconciliation ............................................................................................. 30
Demonstration: Complete a Bank Reconciliation ................................................ 35
Summary ............................................................................................................. 48
Test Your Knowledge .......................................................................................... 49
Lab 4.1 Solution: Create a Bank Account ........................................................... 51
Lab 4.2 Solution: Apply and Post Cash Receipts ................................................ 52
Lab 4.3 Solution: Enter and Post Manual Checks ............................................... 54
Lab 4.4 Solution: Suggest Vendor Payments for a Single Vendor ...................... 56
Lab 4.5 Solution: Financially Void a Check ......................................................... 58
Quick Interaction: Lessons Learned .................................................................... 59

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Solutions.............................................................................................................. 60
Chapter 5: Receivables Management 1
Objectives.............................................................................................................. 1
Introduction............................................................................................................ 1
Customer Card and Receivables .......................................................................... 3
Cash Receipt Journals Overview .......................................................................... 3
Applying Cash Receipt Payments ......................................................................... 5
Lab 5.1: Apply and Post a Cash Receipt............................................................. 16
Lab 5.1: Apply and Post a Cash Receipt............................................................. 17
Lab 5.2: Applying a Payment After Posting ......................................................... 18
Lab 5.2: Applying a Payment After Posting ......................................................... 19
Unapply Customer Ledger Entries ...................................................................... 20
Lab 5.3: Unapply Posted Ledger Entries............................................................. 22
Lab 5.3: Unapply Posted Ledger Entries............................................................. 23
Reversal of Posted Journals................................................................................ 24
Lab 5.4: Reverse a Posted Journal Entry............................................................ 26
Lab 5.4: Reverse a Posted Journal Entry............................................................ 27
Set up Payment Discounts .................................................................................. 28
Process Payment Discounts ............................................................................... 34
Lab 5.5: Post a Payment with a Discount............................................................ 43
Lab 5.5: Post a Payment with a Discount............................................................ 44
Lab 5.6: Apply Posted Partial Payments with Discounts ..................................... 45
Lab 5.6: Apply Posted Partial Payments with Discounts ..................................... 46
Set up Payment Tolerance .................................................................................. 47
Lab 5.7: Set up a Payment Tolerance ................................................................. 53
Lab 5.7: Set up a Payment Tolerance ................................................................. 54
Process Payment Tolerance ............................................................................... 55
Lab 5.8: Process a Payment Tolerance .............................................................. 62
Lab 5.8: Process a Payment Tolerance .............................................................. 62
Lab 5.8: Process a Payment Tolerance .............................................................. 63
Reminders and Finance Charge Memos............................................................. 64
Set up and Assign Reminder Terms.................................................................... 64
Lab 5.9: Set up a Reminder Term ....................................................................... 71
Lab 5.9: Set up a Reminder Term ....................................................................... 72
Create and Issue Reminders............................................................................... 73
Lab 5.10: Create and Issue Reminders............................................................... 81
Lab 5.10: Create and Issue Reminders............................................................... 82
Set up and Assign Finance Charge Items ........................................................... 83
Lab 5.11: Set up a Finance Charge Term ........................................................... 87
Lab 5.11: Set up a Finance Charge Term ........................................................... 88
Create and Issue Finance Charge Memos.......................................................... 89
Lab 5.12: Create and Issue Finance Charge Memos.......................................... 98
Lab 5.12: Create and Issue Finance Charge Memos.......................................... 99
Analyzing Receivables ...................................................................................... 100
Summary ........................................................................................................... 102
Test Your Knowledge ........................................................................................ 103
Lab 5.1 Solution: Apply and Post a Cash Receipt............................................. 104
Lab 5.2 Solution: Applying a Payment After Posting ......................................... 106
Lab 5.3 Solution: Unapply Posted Ledger Entries............................................. 108
Lab 5.4 Solution: Reverse a Posted Journal Entry............................................ 110

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Lab 5.5 Solution: Post a Payment with a Discount............................................ 111

Lab 5.6 Solution: Apply Posted Partial Payments with Discounts ..................... 112
Lab 5.7 Solution: Set up a Payment Tolerance ................................................. 114
Lab 5.8 Solution: Process a Payment Tolerance .............................................. 115
Lab 5.9 Solution: Set up a Reminder Term ....................................................... 117
Lab 5.10 Solution: Create and Issue Reminders............................................... 119
Lab 5.11 Solution: Set up a Finance Charge Term ........................................... 120
Lab 5.12 Solution: Create and Issue Finance Charge Memos.......................... 122
Quick Interaction: Lessons Learned .................................................................. 123
Solutions............................................................................................................ 124
Chapter 6: Payables Management 1
Objectives.............................................................................................................. 1
Introduction............................................................................................................ 1
Vendor Card and Payables ................................................................................... 3
Payment Journal Overview.................................................................................... 4
Apply Vendor Entries Window Overview ............................................................... 6
Post Manual Payables Checks.............................................................................. 9
Lab 6.1: Enter a Manual Check ........................................................................... 13
Lab 6.1: Enter a Manual Check ........................................................................... 14
Suggest Vendor Payments Overview.................................................................. 15
Create Payments Using Suggest Vendor Payments........................................... 19
Print and Post Payables Checks ......................................................................... 26
Lab 6.2: Suggest, Print, and Post a Vendor Payment ......................................... 34
Lab 6.2: Suggest, Print, and Post a Vendor Payment ......................................... 35
Void Unposted Checks ........................................................................................ 36
Lab 6.3: Void and Reprint a Check...................................................................... 38
Lab 6.3: Void and Reprint a Check...................................................................... 39
Apply Payments After Posting ............................................................................. 40
Lab 6.4: Apply a Credit Memo After Posting ....................................................... 42
Lab 6.4: Apply a Credit Memo After Posting ....................................................... 43
Unapply Vendor Ledger Entries .......................................................................... 44
Lab 6.5: Unapply a Payment ............................................................................... 45
Lab 6.5: Unapply a Payment ............................................................................... 46
Reversal of Journal Postings............................................................................... 47
Lab 6.6: Reverse a Posted Journal Entry............................................................ 49
Lab 6.6: Reverse a Posted Journal Entry............................................................ 50
Set up Payment Discounts .................................................................................. 51
Process Payment Discounts ............................................................................... 56
Lab 6.7: Adjust an Invoice to Include Payment Discounts................................... 61
Lab 6.7: Adjust an Invoice to Include Payment Discounts................................... 62
Set up Payment Tolerance .................................................................................. 63
Process Payment Tolerance ............................................................................... 68
Lab 6.8: Adjust the Payment Discount Amount ................................................... 71
Lab 6.8: Adjust the Payment Discount Amount ................................................... 72
Analyze Payables ................................................................................................ 73
Summary ............................................................................................................. 75
Test Your Knowledge .......................................................................................... 76
Lab 6.1 Solution: Enter a Manual Check ............................................................. 77
Lab 6.2 Solution: Suggest, Print, and Post a Vendor Payment ........................... 79
Lab 6.3 Solution: Void and Reprint Checks......................................................... 81

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Lab 6.4 Solution: Apply a Credit Memo After Posting ......................................... 83

Lab 6.5 Solution: Unapply a Payment ................................................................. 84
Lab 6.6 Solution: Reverse a Posted Journal Entry.............................................. 85
Lab 6.7 Solution: Adjust an Invoice to Include Payment Discounts..................... 86
Lab 6.8 Solution: Adjust the Payment Discount Amount ..................................... 87
Quick Interaction: Lessons Learned .................................................................... 88
Solutions.............................................................................................................. 89
Chapter 7: Prepayments 1
Objectives.............................................................................................................. 1
Introduction............................................................................................................ 1
Prepayments Set-up Overview.............................................................................. 2
Set up Prepayment General Ledger Accounts ...................................................... 3
Set up Number Series for Prepayment Documents .............................................. 4
Set up Prepayment Percentages for Customers and Vendors.............................. 6
Set up Prepayment Percentages for Customer-Item and Vendor-Item
Combinations ........................................................................................................ 6
Set up Check Prepayment When Posting ........................................................... 10
Lab 7.1: − Set up Prepayments for Sales............................................................ 12
Lab 7.1: − Set up Prepayments for Sales............................................................ 13
Prepayments Processing Flows .......................................................................... 14
Prepayment Sales and Purchase Orders Overview ............................................ 15
Process Prepayment Sales and Purchase Orders .............................................. 18
Lab 7.2: − Create a Prepayment Sales Order ..................................................... 21
Lab 7.2: − Create a Prepayment Sales Order ..................................................... 22
Process Prepayment Sales and Purchase Invoices............................................ 23
Lab 7.3: − Invoice a Prepayment Sales Order..................................................... 24
Lab 7.3: − Invoice a Prepayment Sales Order..................................................... 25
Correct Prepayments .......................................................................................... 26
Summary ............................................................................................................. 28
Test Your Knowledge − Prepayments ................................................................. 29
Lab 7.1 − Solution: Set up Prepayments for Sales.............................................. 30
Lab 7.2 − Solution: Create a Prepayment Sales Order ....................................... 31
Lab 7.3 − Solution: Invoice a Prepayment Sales Order....................................... 32
Quick Interaction: Lessons Learned .................................................................... 33
Solutions.............................................................................................................. 34
Test Your Knowledge .......................................................................................... 34
Chapter 8: VAT and Intrastat 1
Objectives.............................................................................................................. 1
Introduction............................................................................................................ 1
Display VAT Amounts in Sales and Purchase Documents ................................... 2
Adjust VAT Amounts in Sales and Purchase Documents and Journals................ 5
Lab 8.1: − Adjust a VAT Amount in a Sales Document ....................................... 12
Lab 8.1: − Adjust a VAT Amount in a Sales Document ....................................... 13
Lab 8.2: − Adjust a VAT Amount in a Purchase Journal ..................................... 14
Lab 8.2: − Adjust a VAT Amount in a Purchase Journal ..................................... 15
Import VAT .......................................................................................................... 16
VAT Correction .................................................................................................... 22

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VAT Statements .................................................................................................. 26

Lab 8.3: − Define and Preview a VAT Statement ................................................ 34
Lab 8.3: − Define and Preview a VAT Statement ................................................ 35
VAT Settlement ................................................................................................... 37
Intrastat Reporting............................................................................................... 40
Set up Intrastat .................................................................................................... 40
Report Intrastat.................................................................................................... 46
Summary ............................................................................................................. 49
Test Your Knowledge − VAT and Intrastat .......................................................... 50
Lab 8.1 − Solution: Adjust a VAT Amount in a Sales Document ......................... 51
Lab 8.2 − Solution: Adjust a VAT Amount in a Purchase Journal ....................... 52
Lab 8.3 − Solution: Define and Preview a VAT Statement .................................. 54
Quick Interaction: Lessons Learned .................................................................... 58
Solutions.............................................................................................................. 59
Test Your Knowledge − VAT and Intrastat .......................................................... 63

Chapter 9: Multicompany Operations − Consolidations 1

Objectives.............................................................................................................. 1
Introduction............................................................................................................ 1
Consolidation Overview and Backup Restoration ................................................. 2
Set up the Consolidation ....................................................................................... 3
Lab 9.1: − Set up Business Units ........................................................................ 14
Lab 9.1: − Set up Business Units ........................................................................ 15
Export Data for Consolidation ............................................................................. 16
Lab 9.2: − Create a Consolidation Export File..................................................... 19
Lab 9.2: − Create a Consolidation Export File..................................................... 20
Test Data for Consolidation ................................................................................. 21
Lab 9.3: − Test the Consolidation Data ............................................................... 24
Lab 9.3: − Test the Consolidation Data ............................................................... 25
Lab 9.4: − Correct the Consolidation Data .......................................................... 26
Lab 9.4: − Correct the Consolidation Data .......................................................... 27
Process the Consolidation................................................................................... 28
Lab 9.5: − Consolidate the Subsidiaries .............................................................. 31
Lab 9.5: − Consolidate the Subsidiaries .............................................................. 32
Process Consolidation Eliminations .................................................................... 33
Print Consolidation Reports................................................................................. 38
Lab 9.6: − Print the Consolidated Trial Balance .................................................. 41
Lab 9.6: − Print the Consolidated Trial Balance .................................................. 42
Summary ............................................................................................................. 43
Test Your Knowledge − Multicompany Operations − Consolidations.................. 44
Lab 9.1 − Solution: Set up Business Units .......................................................... 45
Lab 9.2 − Solution: Create a Consolidation Export File....................................... 47
Lab 9.3 − Solution: Test the Consolidation Data ................................................. 48
Lab 9.4 − Solution: Correct the Consolidation Data ............................................ 50
Lab 9.5 − Solution: Consolidate the Subsidiaries ................................................ 52
Lab 9.6 − Solution: Print the Consolidated Trial Balance .................................... 54
Quick Interaction: Lessons Learned .................................................................... 55
Solutions.............................................................................................................. 56
Test Your Knowledge − Multicompany Operations − Consolidations.................. 57

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Chapter 10: Multicompany Operations - Intercompany 1

Objectives.............................................................................................................. 1
Introduction............................................................................................................ 2
Intercompany Overview and Database Preparation.............................................. 3
Set up the Intercompany Partner .......................................................................... 5
Lab 10.1: − Set up an IC Partner......................................................................... 11
Lab 10.1: − Set up an IC Partner......................................................................... 12
Assign IC Partners to Customers and Vendors................................................... 13
Lab 10.2: − Create an IC Partner Vendor............................................................ 14
Lab 10.2: − Create an IC Partner Vendor............................................................ 15
Set up the Chart of Accounts for IC Transactions ............................................... 16
Lab 10.3: − Add an Account and Update the IC Chart of Accounts .................... 19
Lab 10.3: − Add an Account and Update the IC Chart of Accounts .................... 20
Set up Dimensions for IC Transactions ............................................................... 21
Lab 10.4: − Remove and Update IC Dimensions ................................................ 24
Lab 10.4: − Remove and Update IC Dimensions ................................................ 25
Set up Default IC Partner G/L Accounts.............................................................. 26
IC Outbox and IC Inbox Overview ....................................................................... 27
Create an IC Document....................................................................................... 34
Lab 10.5: − Create an IC Sales Document.......................................................... 38
Lab 10.5: − Create an IC Sales Document.......................................................... 39
Send IC Documents ............................................................................................ 40
Lab 10.6: − Send IC Documents ......................................................................... 41
Lab 10.6: − Send IC Documents ......................................................................... 42
Receive and Accept IC Documents..................................................................... 43
Lab 10.7: − Accept an IC Document and Create a Purchase Invoice ................. 46
Lab 10.7: − Accept an IC Document and Create a Purchase Invoice ................. 47
View Handled IC Inbox and IC Outbox Transactions .......................................... 48
Lab 10.8: − Delete a Handled IC Transaction ..................................................... 51
Lab 10.8: − Delete a Handled IC Transaction ..................................................... 52
Reject IC Documents .......................................................................................... 53
Lab 10.9: − Reject an IC Document .................................................................... 55
Lab 10.9: − Reject an IC Document .................................................................... 56
Return and Cancel IC Documents....................................................................... 57
Lab 10.10: − Cancel a Rejected IC Document .................................................... 59
Lab 10.10: − Cancel a Rejected IC Document .................................................... 60
Post an IC General Journal ................................................................................. 61
Lab 10.11: − Post and Send an IC General Journal Transaction ........................ 65
Lab 10.11: − Post and Send an IC General Journal Transaction ........................ 66
Allocate Costs to IC Partners .............................................................................. 67
Lab 10.12: − Allocate Service Costs to IC Partners ............................................ 71
Lab 10.12: − Allocate Service Costs to IC Partners ............................................ 72
Lab 10.13: − Allocate Purchase Costs to IC Partners ......................................... 73
Lab 10.13: − Allocate Purchase Costs to IC Partners ......................................... 74
Summary ............................................................................................................. 75
Test Your Knowledge − Multicompany Operations − Intercompany.................... 76
Lab 10.1 − Solution: Set up an IC Partner........................................................... 77
Lab 10.2 − Solution: Create an IC Partner Vendor.............................................. 78

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Lab 10.3 − Solution: Add an Account and Update the IC Chart of Accounts ...... 79
Lab 10.4 − Solution: Remove and Update IC Dimensions .................................. 81
Lab 10.5 − Solution: Create an IC Sales Document............................................ 82
Lab 10.6 − Solution: Send IC Documents ........................................................... 83
Lab 10.7 − Solution: Accept an IC Document and Create a Purchase Invoice ... 84
Lab 10.8 − Solution: Delete a Handled IC Transaction ....................................... 85
Lab 10.9 − Solution: Reject an IC Document ...................................................... 86
Lab 10.10 − Solution: Cancel a Rejected IC Document ...................................... 88
Lab 10.11 − Solution: Post and Send an IC General Journal Transaction .......... 90
Lab 10.12 − Solution: Allocate Service Costs to IC Partners .............................. 92
Lab 10.13 − Solution: Allocate Purchase Costs to IC Partners ........................... 94
Quick Interaction: Lessons Learned .................................................................... 96
Solutions.............................................................................................................. 97
Test Your Knowledge − Multicompany Operations − Intercompany.................... 97
Chapter 11: Multicurrency 1
Objectives.............................................................................................................. 1
Introduction............................................................................................................ 1
Currency Card and Currency Exchange Rates ..................................................... 2
Set Up Multicurrency for Customers, Vendors, and Bank Accounts ..................... 9
Process Sales and Purchase Documents ........................................................... 13
Lab 11.1: − Process a Sales Invoice ................................................................... 16
Lab 11.1: − Process a Sales Invoice ................................................................... 17
Process Cash Receipts ....................................................................................... 18
Process Payments .............................................................................................. 21
Convert Journal Entries to Local Currency.......................................................... 24
Lab 11.2: − Post Expenses in Foreign Currency ................................................. 28
Lab 11.2: Post Expenses in Foreign Currency .................................................... 29
Use the Adjust Exchange Rates Batch Job......................................................... 30
Lab 11.3: − Update the USD:GBP Exchange Rate ............................................. 38
Lab 11.3: − Update the USD:GBP Exchange Rate ............................................. 39
Additional Reporting Currency ............................................................................ 40
Lab 11.4: − Add an Additional Reporting Currency ............................................. 48
Lab 11.4: − Add an Additional Reporting Currency ............................................. 49
Lab 11.5: − Adjust the ACY Exchange Rate........................................................ 50
Lab 11.5: − Adjust the ACY Exchange Rate........................................................ 51
Consolidations with Multiple Currencies.............................................................. 52
Summary ............................................................................................................. 58
Lab 11.1 − Solution: Process a Sales Invoice ..................................................... 59
Lab 11.2 − Solution: Post Expenses in Foreign Currency ................................... 61
Lab 11.3 − Solution: Update the USD:GBP Exchange Rate ............................... 63
Lab 11.4 − Solution: Add an Additional Reporting Currency ............................... 65
Lab 11.5 − Solution: Adjust the ACY Exchange Rate.......................................... 67
Quick Interaction: Lessons Learned .................................................................... 68
Chapter 12: Year End Closing Processes 1
Objectives.............................................................................................................. 1
Introduction............................................................................................................ 1
Closing a Fiscal Year ............................................................................................ 2

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Transferring Income Statement Account Balances ............................................... 5

Posting the Journal................................................................................................ 9
Lab 12.1: − Post an Entry into a Closed Fiscal Year ........................................... 12
Lab 12.1: − Post an Entry into a Closed Fiscal Year ........................................... 13
Summary ............................................................................................................. 14
Test Your Knowledge − Year End Closing Processes ........................................ 15
Lab 12.1 − Solution: Post an Entry into a Closed Fiscal Year ............................. 16
Quick Interaction: Lessons Learned .................................................................... 18
Solutions.............................................................................................................. 19
Test Your Knowledge − Year End Closing Processes ........................................ 21

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