AX-300-USG-001-v01.00-ENGB -user guide.pdf

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User's guide for General

Ledger



NOTICE

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Copyright © 2002 Navision a/s, Frydenlunds Allé 6, DK-2950 Vedbaek,

Denmark. All rights reserved.

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Published by Navision a/s.

Published in Denmark 2002.

DocID: AX-300-USG-001-v01.00-ENGB



TABLE OF CONTENTS

CHAPTER 1.

POSTING .......................................................................................................1-1 1.1 Create a general journal ...................................................................1-2 1.2 Approve a general journal.................................................................1-3 1.3 Post a general journal.......................................................................1-4 CHAPTER 2.

PERIODIC JOBS..............................................................................................2-1 2.1 General monthly closing check list ...................................................2-2 2.2 Monthly closing in ledger ..................................................................2-3 2.3 Accounting year close.......................................................................2-4 CHAPTER 3.

CONSOLIDATIONS ..........................................................................................3-1 3.1 Set up consolidation .........................................................................3-2 3.2 Run consolidation .............................................................................3-3 CHAPTER 4.

CASHFLOW FORECAST...................................................................................4-1 4.1 Set up cashflow forecast in sales and purchase...............................4-2 4.2 Set up cashflow forecast in budget...................................................4-3 4.3 Set up cashflow forecast in ledger....................................................4-4 4.4 Calculate and display a cashflow forecast........................................4-5



CHAPTER 5.

CURRENCY REQUIREMENT ............................................................................. 5-1 5.1 Set up currency requirement ............................................................ 5-2 5.2 Calculate and display currency requirement .................................... 5-3 CHAPTER 6.

SETTING UP VAT........................................................................................... 6-1 6.1 VAT setup overview ......................................................................... 6-2 6.2 Set up ledger posting groups ........................................................... 6-3 6.3 Set up tax authorities........................................................................ 6-4 6.4 Set up VAT settlement periods......................................................... 6-5 6.5 Set up VAT codes ............................................................................ 6-6 6.6 Set up VAT groups........................................................................... 6-8 6.7 Set up item VAT groups ................................................................... 6-9 CHAPTER 7.

REFERENCE .................................................................................................. 7-1 7.1 Ledger - Exchange adjustment ........................................................ 7-2 7.2 Ledger settlements........................................................................... 7-3 7.3 Journalise transactions..................................................................... 7-4 7.4 Transaction journal........................................................................... 7-5 7.5 Consolidations.................................................................................. 7-6 7.6 Periods ............................................................................................. 7-7 7.7 VAT payment.................................................................................... 7-8 7.8 Opening transactions ....................................................................... 7-9



7.9 Closing sheet ..................................................................................7-10 7.10 System accounts ............................................................................7-11 7.11 Number sequences.........................................................................7-12 7.12 Budget ............................................................................................7-13 7.13 Budget model..................................................................................7-14 7.14 Ledger - Consolidation....................................................................7-15 7.15 Forecast..........................................................................................7-17 7.16 Period allocation keys.....................................................................7-19 7.17 Transfer sales budget to ledger ......................................................7-20 7.18 Transfer purchase budget to ledger................................................7-21 7.19 Cashflow forecast job .....................................................................7-22 7.20 Cashflow forecasts .........................................................................7-24 7.21 Liquidity...........................................................................................7-25 7.22 Currency requirement .....................................................................7-26 7.23 Ledger posting groups ....................................................................7-27 7.24 VAT codes ......................................................................................7-28 7.25 Tax authorities ................................................................................7-29 7.26 VAT settlement periods ..................................................................7-30 7.27 Values.............................................................................................7-31 Index...............................................................................................................1





Chapter 1.

Posting



Posting

1-2

1.1 CREATE A GENERAL JOURNAL

1. Click General ledger , Journals, General journal.

2. Create a new journal according to the pre-defined Journal names. The

drop-down list will only contain journal names of the type Daily.

3. Click Lines to access journal voucher lines.

Note Most of the fields in the general journal are filled in from the setup of

default values in Journal names.



User's guide for General Ledger

1-3

1.2 APPROVE A GENERAL JOURNAL

If journals have to be approved by another person than the one that enters

the journal lines, an approval system can be set up. The Post button will

then remain deactivated until the responsible person has approved the

journal. If the journal is rejected, it cannot be posted.

Note The approval system can be used from both the Journal and the

Journal voucher form.

Set up and use the approval system in journals

1. To activate the approval system click General ledger , Setup, Journals,

Journal names. Select the Active field, and insert a user group in theApprove field.

2. Create and validate journal lines.

3. Click Approval button, then Report as ready if the journal is OK.Note that the Post button is deactivated.

4. The responsible person clicks Approval, then Approve to approve the journal. Note that the Post button is now activated.

5. Or, if the journal contains errors, click Reject, and the journal must bereported as ready again before final approval.

6. Post the journal after final approval.

Tip Follow the approval history on the History tab in the Journal voucher

and the Journal form.



Posting

1-4

1.3 POST A GENERAL JOURNAL

Journal voucher is used to post to ledger, bank, customer, vendor, project

and fixed assets accounts.

Post daily ledger transactions in Journal voucher

1. Click General ledger , Journals, General journal, Lines.

2. Fill in the relevant fields on the first line, including tabs.

Some of the fields are filled in from the fields in the general journal.

Account and Offset account can be specified on the same line, or two

or more lines can be used for the voucher. Voucher normally changes

to the next number (rises) whenever the balance is zero, but the method

can be changed in the field New voucher on tab General in Journal

names.

Note that Transaction text for Offset account is placed on tab

General.

3. After filling in the fields, click Validate, then Validate to check all lines,

or Validate, then Validate voucher only to check current voucher only.

4. Optionally, print Journal voucher . Three reports, Print journal,

Balances, and Cash report, are available. If the field Delete lines after

posting on tab General in Journal has not been selected, you can print

the lines after posting.

5. After validating, click Post, then Post to post all lines. If you click Post,

then Post and transfer , found errors are transferred into the next

journal of the same type, and all the correct vouchers are posted.

Note Validate, Print, and Post can also be performed from the Journal

form.



Chapter 2.

Periodic jobs



Periodic jobs

2-2

2.1 GENERAL MONTHLY CLOSING CHECK LIST

Any company has a set of procedures to perform at month-end to be able to

present, for example, a financial statement. Month-end procedures are found

in most of the modules in Axapta.

Month-end check list

The following list contains recommended actions to be taken when making

month-end closing procedures. Note, that all steps are not mandatory, that

the modules used, and the setup of Configuration, and User group

permissions may prevent access to certain steps.

Note Perform month-end procedures lastly in General ledger , as, for

example, Interest job in Sales ledger , may generate ledger transactions.

1. Post all open journal vouchers for the month in all relevant modules.

2. Perform any Batch posting routines in Sales ledger , and Purchaseledger .

3. Run Interest calculation, Creation of collection letter , Exchangeadjustment, and Payment management jobs in Sales ledger .

4. Run Exchange adjustment in Purchase ledger .

5. Run Closing and adjustment, and ABC classification in Stockmanagement.

6. Post and adjust under Periodic in Project.

7. For monthly procedures in General ledger , see Monthly closing inledger (See 'Monthly closing in ledger' on page 2-3).

The above-mentioned procedures should be supplemented with a number of

reports, like account statements, and ageing reports.




2-3

2.2 MONTHLY CLOSING IN LEDGER


month-end closing procedures in ledger after having performed the

necessary closings in the other modules.

Note All steps are not mandatory, and the setup of Configuration, and User

group permissions may prevent access to certain steps.

1. Ensure that all journal vouchers for the month are posted.

2. Run Exchange adjustment (See 'Ledger - Exchange adjustment' onpage 7-2).

3. Run Ledger settlements (See 'Ledger settlements' on page 7-3).

4. If legal demand, run Journalising (See 'Journalise transactions' on page7-4), and inspect the result in the Ledger journal (See 'Transaction journal' on page 7-5) form.

5. Run Consolidate and check the result in Consolidations (See'Consolidations' on page 7-6).

6. Print Trial balance, Account statement, Financial statement, andrelevant ledger reconciliation reports.

7. Set the field Status to Stopped in Periods (See 'Periods' on page 7-7)to prevent accidental postings in the closed month.

Depending on actual legal demands and settlement periods, include these steps:

1. Run VAT payment (See 'VAT payment' on page 7-8)

2. Run Intrastat and EU sales list in Basic, Periodic, Foreign trade.



Periodic jobs

2-4

2.3 ACCOUNTING YEAR CLOSE

The year-end process is an extension to the established Monthly closing in

ledger (See 'Monthly closing in ledger' on page 2-3) process, involving, for

example, creating new accounting year in Periods, creating Opening

transactions (See 'Opening transactions' on page 7-9), and adjusting

transactions in Closing sheet (See 'Closing sheet' on page 7-10).

Year-end check list


year-end closing procedures. Note that all steps are not mandatory, and that

the setup of Configuration, and User group permissions may prevent

access to certain steps.

1. Create a new accounting year in Periods (See 'Periods' on page 7-7) assoon as you need to post transactions. The closing year is still open forpostings.

2. Perform the normal month-end closing in all modules, and year-end

closing in other modules than ledger, as these can create ledger

transactions.

3. Make necessary adjustments entries in Closing sheet (See 'Closing

sheet' on page 7-10).

4. Back up data

5. Set Period code in Periods to Stopped to prevent accidental postings

into the closing year.

6. Run Opening transactions (See 'Opening transactions' on page 7-9) totransfer opening balances into the new year, as defined underAccounting year close in General ledger , Setup, Parameters. The Year-end result account must be selected in System accounts (See'System accounts' on page 7-11).Note This step must be re-run if further adjustments are made in

Closing sheet or in Journals.

7. Reset number sequences with yearly allocation in Number sequence

(See 'Number sequences' on page 7-12).

8. Print financial statement, and other relevant reports.Note This can be done any time.

9. Define Ledger budget (See 'Budget' on page 7-13) for the newaccounting year.

Note This can be done before year-end closing if appropriate.




2-5





Chapter 3.

Consolidations



Consolidations

3-2

3.1 SET UP CONSOLIDATION

The consolidation is a way to collect transactions from several company

accounts into a single set of company accounts. Then reports like financial

statements etc. can be printed from this set of consolidated company

accounts.

Set up a simple online consolidation

The minimum required tasks to set up an online consolidation:

1. In Administration, Company accounts, create a set of companyaccounts for your consolidation, and select it.

2. Select the field Consolidated company accounts in General ledger ,Setup, Parameters.

3. Define the relevant currencies and exchange rates in General ledger ,Setup, Exchange rates.Note On the Consolidate tab, it is possible to set up a specialconsolidation exchange rate for Monetary accounts and Non-monetary accounts. Remember to select the field Monetary

1 in the

Chart of accounts form for the relevant accounts.

4. In Basic, Setup, Company information, select the default currency onthe Other tab.

5. In the company accounts to be consolidated (child companies), in thefield Consolidation account

2 in the Chart of accounts form, it is

possible to direct the current ledger account to another ledger account inthe parent company.

1 Monetary accounts will be summed up by the exchange rate of the assessment time. All other

accounts will be summed up by the exchange rate of the transaction date. Only accounts of the typesBalance, Asset, and Liability can be selected, if Exchange adjustment is also selected.

2 Indicates where the current account should be placed in a group chart of accounts. This will transfer

the account balances from the given account to the consolidation account in the parent company.

Note You can use the same consolidation account for several account numbers.




3-3

3.2 RUN CONSOLIDATION

Specify what and how to consolidate in General ledger , Periodic,

Consolidate, in the Consolidation (See 'Ledger - Consolidation' on page 7-

15) form.

1. Click OK to run the consolidation. All specified transactions from the selected company accounts aretransferred to the consolidated set of company accounts, and the chartof accounts is created based on the chart of accounts of the selectedcompany accounts.

2. Go to the form Consolidations in General ledger , Inquiries to inspectthe consolidation.

3. Print a financial statement to check the result of the consolidation.





Chapter 4.

Cashflow Forecast



Cashflow Forecast

4-2

4.1 SET UP CASHFLOW FORECAST IN SALES AND PURCHASE

In sales and purchase the setup can be divided into mandatory setup, and

regulation parameter setup. If only the mandatory setup is used, the

cashflow forecasts (the future transactions) will be calculated as if the

sale/purchase is invoiced 'today' and all payments are handled as planned.

However, if there are any anticipated corrections to this, like monthly

invoicing procedures, typically delayed payment etc, this can also be set up

in Axapta.

Mandatory setup

• Fill in the Settle account field on the Ledger accounts tab in customerPosting profiles and vendor Posting profiles with the liquidity accountfor payments.

Additional setup

In Sales ledger , Setup, Parameters, on the tab Ledger and VAT, set up

the following fields:

1. Invoicing period - the interval at which sales orders are invoiced (forexample monthly).

2. Terms of payment - is the default payment term, if nothing is specified'later'.

3. Date of payment - is the anticipated delay between the due date andthe date where the payment is finallycompleted.

4. Summary account without group - is the default account used if thisaccount is not set up on customergroups.

5. Settle account - is the liquidity account for settling payments.

In Sales ledger, Setup, Customer groups, set up the following:

1. Terms of payment - is used if no payment terms are specified on thesales order or the customer. If no payment terms are specified here, thedefault payment terms from the customer parameters will be used.

2. Settle period - is the anticipated delay between the due date and thedate where the payment is finally completed. If nothing is specified, theterms of payment in the customer parameters is used.

Note The setup is identical in the Sales ledger and Purchase ledger

modules.




4-3

4.2 SET UP CASHFLOW FORECAST IN BUDGET

1. Check the Cashflow forecasts field in Budget model in Generalledger, and in Forecast models in Master planning to apply cashflowforecasts to a budget / forecast model.

2. On the Setup tab in Ledger budget, check the Active and Cashflowforecast fields. When creating budget transactions, Active isautomatically checked, and Cashflow forecast is filled in according tothe budget model.

3. In Ledger budget, Setup button, Cashflow forecast (See 'Forecast' onpage 7-17), specify how each budget transaction should be included incashflow forecasts:

a) The percentage of the amount on the account to be included.Tip If you want the budget transaction itself to occur in the cashflowforecasts, you must specify cashflow forecasts for the account itself. Youcreate a record with 100 % allocation value, without payment terms andaccount number = account number for the budget account.

b) The terms of payment, that is the period from the actual transactiondate until the future transaction takes place.

Note This only applies to ledger budgets. On forecasts, the terms arecopied from the customer / vendor.

c) The posting type expected, for example, Vendor settlement.

d) The account that the transaction will be posted to.

4. Finally, specify through Period allocation keys (See 'Period allocationkeys' on page 7-19) the share of the budget that should be considered inthe cashflow forecasts:

a) The allocation key used for cashflow forecasts on ledger budgets isspecified on tab Budget in Generalledger, Parameters.

b) The allocation key for sales budgets is specified on tab Cashflowforecast in Accountsreceivable, Parameters.

c) The allocation key for purchase budgets is specified on tab Cashflowforecast in Purchase ledger,Parameters.

Example The budget for the year is split into monthly budget periods. The

allocation key for cashflow forecasts could then split the months into weeks

with 25% for each week. If the cashflow forecast is calculated on the tenth in

a month, then only 75% percent of the budget for that month will be included

in the cashflow forecasts.



Cashflow Forecast

4-4

4.3 SET UP CASHFLOW FORECAST IN LEDGER

On the ledger transactions, it is possible to specify, on the chart of accounts,

if and how transactions must be used in cashflow forecasts. This is used for

actions, where transactions are normally followed by some other transaction,

like VAT payment.

This is done in the same form and in the same manner as described in item

3 above under the heading Set up cashflow forecast in budget (See 'Set up

cashflow forecast in budget' on page 4-3).

Forecast integration with ledger budget

In Master planning, Periodic, Sales budget to ledger (See 'Transfer sales

budget to ledger' on page 7-20) and Purchase budget to ledger (See

'Transfer purchase budget to ledger' on page 7-21), it is possible to transfer

a sales forecast and a purchase forecast to a ledger budget.

Note The cashflow forecasts will not be copied to the ledger budget, but

remain connected to the source.




4-5

4.4 CALCULATE AND DISPLAY A CASHFLOW FORECAST

Cashflow forecasts are calculated when activating the job Calculate

cashflow forecasts in General ledger, or when inspecting the cashflow

forecasts in the different modules.

Calculate cashflow forecast

Click General ledger , Periodic, Currency requirement, Calculate cashflow

forecasts (See 'Cashflow forecast job' on page 7-22), and select an option.

1. Total - clears all existing cashflow forecast transactions and recalculates

all. Use this option if it has been a long time since the last total update.

2. New - use this option, for example, when you are investigating the

consequences of budget modifications.

Display cashflow forecast

Display the result of the calculation in the following places:

• In the header of Sales orders and Purchase orders - on the Inquiriesbutton, then Cashflow forecasts (See 'Cashflow forecasts' on page 7-24).

• In Chart of accounts - for the specific account on the Inquiries button,then Cashflow forecasts.

• In Ledger budget - for the specific account on the Cashflow forecastsbutton.

• In Purchase and Sales - to be activated through Stock management,Items, Forecasting or Master planning, Inquiries, Forecast.

Print cashflow forecast

Cashflow forecasts can be auto-reported from the relevant forms and also be

included in the setup of Financial statement, by specifying one or more ofthe three column types Cashflow forecast, Cashflow forecast currency,

and Cashflow forecast default currency in the Columns form.





Chapter 5.

Currency Requirement



Currency Requirement

5-2

5.1 SET UP CURRENCY REQUIREMENT

To use currency requirements, it is required, in addition to the cashflow

forecast setup, to specify which ledger accounts are actually the liquidity

accounts.

• In General ledger , Setup, Posting, Liquidity (See 'Liquidity' on page 7-25), select the liquidity account numbers from the chart of accounts.




5-3

5.2 CALCULATE AND DISPLAY CURRENCY REQUIREMENT

Perform the following tasks to analyse the currency requirement:

1. Click General ledger , Periodic, Currency for the currentrequirement, Calculate cashflow forecasts (See 'Cashflow forecast job'on page 7-22), and select an option.

• Total - clears all existing cashflow forecast transactions and

recalculates all. Use this option if it has been a long time since the

last total update.

• New - use this option, for example, when you are investigating the

consequences of budget modifications.

2. Currency requirement (See 'Currency requirement' on page 7-26) form

and click the Calculation button to update the liquidity accounts.

3. Examine the currency requirements by clicking Requirement per

currency and Total currency requirement.





Chapter 6.

Setting up VAT



Setting up VAT

6-2

6.1 VAT SETUP OVERVIEW

The tax system in Axapta is very complex and can deal with, for example

value added taxes, tax on tax, packing duty, and purchase duty. The proper

taxes for a transaction are generated based on VAT groups and Item VAT

groups. When searching VAT, only the VAT codes used in both groups will

be used for calculating the VAT or duty.

Prerequisites for posting and settling VAT

1. Create Chart of accounts with the relevant VAT related accounts.

2. Create Ledger posting groups and attach the relevant ledger accounts

to these.

3. Create Tax authorities, optionally referring to a vendor to post the VATliabilities and payments to this account.

4. Create VAT settlement periods and attach the relevant tax authority tothese.

5. Optionally create VAT reporting codes.

6. Create VAT codes and attach the relevant Ledger posting group,Settlement period, and, optionally VAT reporting codes to these.

7. Create VAT groups and attach the relevant VAT codes to these.

8. Create Item VAT groups and attach the relevant VAT codes to these.

9. Set up the VAT tab on Parameters in General ledger .




6-3

6.2 SET UP LEDGER POSTING GROUPS

When VAT has been calculated and updated, it is posted to a ledger account

based on the setup of ledger posting groups.

See VAT setup overview (See 'VAT setup overview' on page 6-2) for

prerequisites.

To set up ledger accounts with posting groups

1. Create ledger accounts in Chart of accounts

2. Set up ledger posting groups in Ledger posting groups (See 'Ledgerposting groups' on page 7-27)

3. Associate ledger accounts with Ledger posting groups

4. Create VAT codes in VAT codes (See 'VAT codes' on page 7-28)

5. Associate Ledger posting groups to the VAT codes.



Setting up VAT

6-4

6.3 SET UP TAX AUTHORITIES

VAT is reported to Tax authorities, and can be paid through a vendor, or

directly to the tax authority.


prerequisites.

To set up a vendor, and settlement period with a tax authority

1. Set up the vendor in Vendors.

2. Set up the authority in Tax authorities (See 'Tax authorities' on page 7-29).

3. Associate vendor with authority in Tax authorities.

4. Define the settlement period in VAT settlement periods (See 'VATsettlement periods' on page 7-30).

5. Associate the authority with the settlement period.




6-5

6.4 SET UP VAT SETTLEMENT PERIODS

Settlement periods allow you to create and manage the periods that the

company uses to report VAT.


prerequisites.

To set up VAT settlement periods

1. Create Settlement period, select the relevant Authority, and Terms ofpayment.

2. On the Setup tab, define the period, for example, three months.

3. On the Periods tab, define the first interval, for example, from01.01.2001 to 31.03.2001.

4. Add further periods by clicking the New period button.



Setting up VAT

6-6

6.5 SET UP VAT CODES


prerequisites.

To set up VAT codes

1. Select General ledger , Setup, VAT, VAT codes (See 'VAT codes' on

page 7-28), and press Ctrl+N to create a new line.

2. Enter an easily identifiable VAT code and Name

3. Select the mandatory fields Settlement period, Ledger posting group,

and Currency.

4. On the Calculation tab, select Origin1, Marginal base

2, and Method of

calculation3.

1 Select from the following options:

Percentage of net amount Percentage of purchase or sale, excluding any other taxes.

Percentage of gross amount Percentage of purchase or sale, including any other taxes. If you enter aVAT code that is indicated in VAT is based on this other tax, only that tax is included in the calculation.If no VAT code is indicated in this field, the calculation base includes all other taxes.

Percentage of taxes Percentage of another tax. This tax must be indicated in VAT is based on thisother tax.

Amount per unit Amount per unit. Indicate the unit in Unit. If the transaction is in another unit, it will beconverted automatically based on Unit conversion in Stock.

Calculated percentage of net amount

Note Only one VAT code may be used for each calculation. This VAT code is calculated on the grossamount, including other taxes.

2 Specify the origin for the VAT limits set up on VAT limits on the Details button. Each interval is

marked with a minimum and maximum value. Select from the following options:

Net amount per line Value of the line, excluding any other taxes.

Net amount per unit Value of the unit, excluding any other taxes. This can involve the unit pricespecified in Unit.

Net amount of invoice balance The total value for the invoice, excluding any other taxes.Gross amount per line Value of the line, including any other taxes. Only one VAT code with this or thenext property may figure in the individual calculation.

Gross amount per unit Value of the unit, including any other taxes. Only one VAT code with this or theprevious property may figure in the individual calculation.

Invoice total incl. other VAT amounts The total value for the invoice, including any other taxes. Onlyone VAT code with this property may figure in the individual calculation.

3 Select from the following options:

Whole amount The VAT is calculated for the entire amount, determined by the VAT rate for the intervalthat includes the transaction.

Interval The base is divided into intervals. The part falling within a given interval is calculated based onthe VAT rate for that interval.




6-7

5. Click Values button to define VAT values (See 'Values' on page 7-31)

for the VAT calculation per validity date intervals.

6. Click Limits button to define charge limits per date intervals.

To calculate VAT code as a packing duty:

1. On the Calculation tab, select Amount per unit in the Origin field

2. Select a unit for calculating per-unit amount in the Unit field

3. Select the Packing duty field

4. Click Values button to define Amount per unit

To include VAT code in purchase duty calculation, select the Purchase duty

field on the General tab.



Setting up VAT

6-8

6.6 SET UP VAT GROUPS

Since VAT is determined by the geographic location of the customer or the

vendor, it is helpful to group trading partners in VAT groups.


prerequisites.

To set up VAT groups


2. Set up VAT groups in VAT group

3. Associate the VAT codes with the VAT groups in VAT group, Setup tab

4. Associate a VAT group with each customer in Customers, Setup tab

5. Associate a VAT group with each vendor in Vendors, Setup tab




6-9

6.7 SET UP ITEM VAT GROUPS

Since items generally determine VAT, you need to indicate how VAT is

calculated for each item.


prerequisites.

To set up item VAT groups


2. Create item VAT groups in Item VAT group

3. Associate VAT codes with the item VAT groups in Item VAT group

4. Associate an item VAT group with each item in Items





Chapter 7.

Reference



Reference

7-2

7.1 LEDGER - EXCHANGE ADJUSTMENT

When ledger transactions are entered in foreign currencies, they are

converted into the default currency using the existing current exchange

rates.

For balance sheet accounts, for instance, it may be useful to have the

balance converted into the default currency at the current exchange rate on

a daily basis.

You may also wish to convert all transactions in profit & loss accounts over a

given period.

Note Accounts must be marked in the field Exchange adjustment in theChart of accounts to be included in an adjustment.

Adjustments on customers and vendors, however, must be made in the

Customer and Vendor modules, so that the corresponding customer and

vendor transactions are updated.

To perform an exchange adjustment

• Mark the account types to be adjusted.

• Limit the adjustment by clicking Select to specify, for example, accountrange, account types, currencies, and date intervals.

The exchange rates for the system date are used. Profit & loss accounts are

adjusted on the basis of the movements occurred in the various currencies

over the given period, whereas balance accounts are adjusted on the basis

of the balance in each at the end of the period.

An exchange adjustment transaction is marked with the currency code, but

only an amount expressed in local currency. Repeated exchange

adjustments will then take previous adjustments into account.

Note You can run the adjustment as a batch job if you have manytransactions.




7-3

7.2 LEDGER SETTLEMENTS

From this screen you can settle transactions on one ledger account with

transactions on the same or another ledger account. For example, when

posting a delivery note on a temporary ledger account, the transaction can

be settled with the transaction made when the invoice is received and

posted.

Settlement

1. Select the transaction in the upper grid.

2. Click Include.

3. Continue with step 1 and 2 until the Balance field shows 0.00.

4. Click Accept to settle.

Note Click Exclude to move a line from the lower to the upper window.

It is only possible to settle the total amount of the transaction. To undo a

settlement, go to the Chart of accounts, select the ledger account, click

Transactions, then Settlement. From here you can Cancel the settlement.



Reference

7-4

7.3 JOURNALISE TRANSACTIONS

Journalising involves capturing transactions, which affect financial statement

elements, and entering them into the Ledger journal with a record of the

date, general ledger accounts affected, debit and credit amounts.

A journal is a gapless documentation of all transactions that hit General

ledger, no matter if manually entered or generated by, for example, a sales

order posting. A printed journal should therefore contain every ledger

transaction in the order it hits General ledger. Thus, it will be possible to

recreate the ledger transactions in the correct order if a company burns

down, and no backup of data exists. Also, it is very useful when performing

audits. Select the field Extended ledger journal in Parameters to ensure

that the transactions also get a date and time stamp of entry into the system.

Generally the journalising is run at least once a month. Each transaction will

get the number of the journal it was recorded in, and a line number as well.

All transactions entered after this run will occur in the next journal. It is

therefore important to always include all open periods in the journal run.

Click OK to journalise ledger transactions. Click Select to enter an interval of

vouchers to journalise. The Journalise transactions procedure creates a

journal list, which can be printed either on the screen or on paper. To view

the journalised transactions, see also Ledger journal.




7-5

7.4 TRANSACTION JOURNAL

Displays all ledger journals that were generated with Journalising (See

'Journalise transactions' on page 7-4). Click Journal lines to see journal

lines for the current transaction journal. Click Journal list to print the current

transaction journal. Click Extended journal list to print a list sorted by Date

of creation and Time of creation.

Note All reports that are re-printed from this screen are marked as Copy.



Reference

7-6

7.5 CONSOLIDATIONS

Shows consolidation history for the current company accounts. Click

Transactions to display current and budget transactions for the current

consolidation. Click Remove transactions to completely delete the current

record and its current and budget transactions.




7-7

7.6 PERIODS

Allows you to define your own accounting periods and to modify accounting

periods in existing company accounts. The Periods form contains fields for

the start and end dates for the accounting period, for status, and for

comments. The status field has three possible settings: Stopped, Open, or

Closed. This status setting is used in daily journals, and only allows posting

in open accounting periods.

On the Module status tab, you can define the rules for updating in the

modules in Axapta.

Note A Closed accounting period cannot be re-opened.

Buttons

Button Function

Create new accounting year Define a new accounting

year. To allow posting and be

able to define the periods, the

accounting year must be

created.

Divide period Divide existing periods.

Create closing period Create a period with Closed

status.

Delete period Delete an existing period.

Delete accounting year Delete an existing accounting

year.

Recalculate period balances Recalculate the balances in

the selected period.



Reference

7-8

7.7 VAT PAYMENT

Settles VAT that is due for a given period. First you need to specify a range

of information for the desired settlement. The settlement is made for the

period that you define in VAT settlement periods. The settlement will

include the posted VAT that is stored in Posted VAT. The settlement only

includes VAT that has not already been paid. Several payments may be

made for a single period. In order for the settlement to be posted

automatically, you must specify the number sequence of the voucher in

General ledger parameters in the Setup folder. If a vendor account is

specified for the period definition, a vendor transaction will be created

automatically. If no vendor account is specified, the VAT must be paid

directly to the tax authority.

Previous VAT settlement information

Reports can also be made on previously updated settlements, without

settling any new VAT transactions. If you do not update the settlement, only

previous settlements will be reported. If you do make an update, it will be

included in the report as the last settlement in the period.

VAT payment version field

Using the Include corrections field on the VAT tab page in General ledger

parameters, it is possible to always print any corrections together with the

following VAT reporting. If the parameter is selected, the dialogue described

below will not appear.

• Original VAT transactions included in the first settlement in the periodinterval.

• Corrections VAT transactions not included in the first settlement in theperiod interval. This means that the report will include all subsequentpayments for the period.

• Latest corrections VAT transactions included in the last settlement

made for the period. If an update is made as part of the same job, thatupdate will be the last settlement for the period.

• Total list All VAT transactions settled in the current period.

To print out a specific settlement, go to the inquiry Posted VAT.




7-9

7.8 OPENING TRANSACTIONS

Use this dialog to transfer opening transactions. At the end of the year, there

are at least two possibilities for closing the year. The most commonly used

are:

• To reset all profit and loss accounts, and continue into the new year withthe balance accounts.

• To reset both profit and loss, as well as balance accounts, and thenmanually enter the opening balances for the balance accounts.

Profit and loss accounts are always reset by the system, but the transfer

method for the balance accounts must be specified. Select Reset in the

Balance accounts field to reset the balance accounts, and manually enter

the opening balances for the balance accounts. Or, select Closing ->

Opening to continue with the balance accounts, and just make the opening

transactions.

Account for transfer of year-end result is automatically filled in from the

form System accounts, but may be changed.

Fill in Voucher number for the opening transactions to be created. This is

mandatory if the field Voucher number must be filled in is selected in

Parameters.

When the opening transactions are created, a list of the created transactions

can be printed. To do so, select the Print created transactions check box.



Reference

7-10

7.9 CLOSING SHEET

The Axapta system has an advanced electronic closing sheet that allows you

to carry out transfers in the data file. Transfers are made in the data file's

closing period, identified as the thirteenth period, in connection with the year-

end closing - it is not a requirement for the close of the year procedures but

an option.

Use the closing sheet to make adjustment entries at the year end to be

posted directly to Operations, Tax or Capital. Thus, you have the option of

posting directly to the Closing period instead of the last month of the

accounting year. In this way, the last month is 'Clean', and Normal ledger

transactions posted for the accounting year can be separated from Closing

postings.

To edit the current sheet, select Accounts.

In the field Close in Chart of Accounts, choose among Result, Balance,

and Capital. These options are related to the closing sheet in the way that

the balance from the ledger accounts, based on these settings, can be

transferred to the closing sheet and placed in the corresponding columns,

Result, Balance, or Capital. The Transfer field indicates whether there is a

balance.

Using Accounts and then Load balances from company accounts, you

can retrieve some or all accounts into the Closing accounts form and make

any necessary transfers.




7-11

7.10 S YSTEM ACCOUNTS

This form allows you to specify system accounts for automatic transactions

that cannot be set up elsewhere in Axapta. Enter the account number and

the account type.

When setting up the system accounts for the first time, click Create, and the

system automatically creates the system account types below, and for each

of these, the relevant ledger account must be selected if the functionality is

used. When you enter the account number, the account name will appear

automatically.

• Error account

• Penny difference in default currency

• Penny difference in secondary currency

• Year-end result

• Consolidation differences - penny and exchange rate differences inrelation to consolidations

• Order invoice rounding

• Purchase invoice rounding-off

• Customer settlement discount

• Vendor settlement discount

• Customer invoice discount

• Vendor invoice discount

In the Parameters, mark the field Interrupt in case of error account to

interrupt updates with an error message if the error account is used.

Note The settlement discount entries are necessary if settlement discount is

registered or changed manually during settlement. The invoice discount

entries are necessary if total discount is used.



Reference

7-12

7.11 NUMBER SEQUENCES

Number sequences handle automatic allocation of voucher numbers,

invoice numbers, and journal numbers for the entire Axapta system. Before

you begin setting up the different voucher series, first decide how you want

to structure the voucher series.

Example If you want to indicate the year in the customer invoice number,

include the year number in the invoice series by entering a Format.

Set up the relevant number sequences with references on the Number

Sequences tab page in the Parameters form under Setup in the different

modules.

Note Use the Creation wizard to help you easily create the required number

sequences in your Axapta setup.




7-13

7.12 BUDGET

Before using the budgeting features in Axapta, set up a Budget model in

Setup, then Budgeting in General ledger .

Budget allows you to define several budget models. You can run liquidity

calculations so that you can view the budgeted liquidity effects concerning

budget updates. The budget is valid for the period between the starting and

ending date indicated in Date and End. Use Method1 to generate periodic

budget transactions.

Click Transfer balances to create budget transactions from realised

balances.

Click Setup to manage Allocation terms, Period allocation keys,

Settlement terms, and Cashflow forecast for the current budget line.

Click Simulation to perform Allocation and Budget settlement for the

current budget line.

If a budget transaction is allocated using budget allocation, it will be deleted

automatically in conjunction with subsequent allocation.

Show report transactions

Marking the Show reporting transactions field will display all report

transactions as lines, for example, if you entered an annual budget using the

Period method to generate monthly budget transactions. You cannot edit

report transactions.

Note A line with a budget model that is marked as Stopped in Budget model

(See 'Budget model' on page 7-14) cannot be edited.

1 Methods for allocating the forecast transaction:

NoneNo allocation takes place

PeriodFill in Quantity with the number of units in the Unit field. This method is used if forecast with the samequantity per period.

KeyThe forecast is allocated according to the period allocation key specified in the Period key field. Thismethod is used if you wish to take seasonal variation into account.



Reference

7-14

7.13 BUDGET MODEL

Create and edit budget models. You can build several different budget

models to run budget simulations and compare different results. Budget

models can only be built on two levels, but can contain multiple submodels.

Budget models that are used as submodels cannot contain submodels.

Attach submodels to budget models on the Submodel tab page. This is

useful if you want to show the budget transactions for different departments.

Furthermore, use the budget model to specify whether the budget has been

stopped for changes or whether it is included in cashflow forecasting.

You can have as many budget models as you like. In other words, you can

choose to only use a single budget model for all your budgets, or you can

create a new budget model for each budget that you create or a combination

of both.

Example You would like to make a budget on your expected sales for a

revenue account XXX where it is possible to see the budget transactions for

individual departments.

• Create one Budget model M1.

• Add two already created submodels to the Budget model on theSubmodel tab page - East and West.

• Now in the Budget form, create a budget by adding the 3 budget modelsM1, East, and West as follows:

Model/Submodel Ledger account Dimension Amount

M1 XXX -10,000

East XXX EAST -5,000

WEST XXX West -5,000

• Clear the Active field on the Setup tab page for M1.

• Make a posting for ledger account XXX specifying one of the abovedimensions.

• You can now see the budget transactions by running the report Annualbudget.




7-15

7.14 LEDGER - CONSOLIDATION

Consolidate allows you to consolidate multiple company accounts into a

single set of company accounts. The manner in which you use Consolidate

depends on the setup of the current company accounts with respect to

consolidation in Ledger parameters in the Consolidated company

accounts field. In a set of company accounts that has not been

consolidated, extractions for comma-delimited files can be made from any

number of company accounts in the same installation. In a set of

consolidated company accounts, you can transfer consolidated values

directly from company accounts in the same installation and import comma

files with consolidated data. This allows you to run decentralised

consolidation, where extraction occurs locally to comma-delimited files,

which are imported centrally into the consolidated company accounts. With

decentralised consolidation, it is important that the defined ranges for

extraction and import are identical. If not, the import will not be executed,

and an error message will appear. If there are any discrepancies in types of

accounts, transaction accounts will overwrite sum and heading accounts.

On the Criteria tab page, choose whether consolidation should involve

realised transactions, and/or budget transactions, and if group accounts

should be used. When consolidating, you can limit on ledger accounts for a

given period and indicate which budget models should be used for

consolidation.

On the Dimensions tab page, for each dimension (not in Consolidation,

Import) you can specify the information to be inserted from the child

company accounts into the dimension fields on the transactions in the

consolidated company accounts (the parent company). The options are:

• None - nothing is inserted

• Dimension - the dimension on the ledger transaction of the childcompany accounts

• Group dimension - the Group1 field in the Dimensions form of the child

company accounts

• Company accounts - the company accounts ID of the child companyaccounts

• Account - the ledger account in the child company accounts

1 Enter a group name that will be used in Consolidation, if you have selected Group dimension in the

field Specification on the Dimensions tab in the Consolidate forms from which consolidations are run.



Reference

7-16

For example, insert Company accounts extensions for the consolidated

accounts in Department, so that it is clear where the consolidated entries

come from.

On the Companies tab page, select the company accounts to consolidate,

and the share, typically the percentage of the shares owned in that

company. For the import/export forms, in a three-tier environment only,

select the field Server has access to the file to locate the file on the server

instead of the client to improve performance.

On the Description tab page (not in Consolidation, Export), enter a brief

description of the consolidation to provide easy identification in the inquiry

Consolidations.

Note Consolidation can be run as Batch job.




7-17

7.15 FORECAST

Cashflow forecast concerns estimated future ledger transactions, based on

information already registered in the system, for example, VAT payments

and invoices not yet paid.

Sources

Cashflow forecast uses information from the following modules:

Module Selected transactions

Sales order Sales orders not yet invoiced, with remaining physical or

financial sales.

Purchase order Purchase orders not yet invoiced, with remaining physical or

financial sales.

Sales ledger Open customer transactions = invoices not yet paid.

Purchase ledger Open vendor transactions = invoices not yet paid.

Ledger

transactions

Transactions where it is specified that some future posting

will take place, for example, VAT payment.

Ledger budget Registered transactions in the budget, marked for cashflow

forecast.

Customer sales

budget

Registered transactions in the forecast, marked for cashflow

forecast.

Vendor purchase

budget


forecast.

Example

Set up Cashflow forecast on a sales account:

• Set the Percent field to 100.

• Set Terms of payment to current month + 15 days.



Reference

7-18

• In Ledger account, insert the cash account to which the amount iscashflow forecasted.

• Create a sales order of 1000 for a customer that has the above paymentterms.

• Run Calculate cashflow forecast in the Currency requirement folderunder Budget.

• Go to the cash account, click Inquiry and then select Cashflowforecast. Now you will be able to see the sales order that generated aliquidity inflow, and which date it is expected that the cash account willbe debited.

Note If you want the budget transaction itself to occur in the cashflow

forecast, you must specify the cashflow forecast for the account itself. Set up

the cashflow forecast with a 100% allocation value, without payment terms,

and account number = account number for the current budget account. This

only applies for ledger budgets. On forecast budgets, the terms are copied

from the customer/vendor.




7-19

7.16 PERIOD ALLOCATION KEYS

Period allocation keys are used in connection with budgeting for setting up

seasonal fluctuations. In Master planning, this function is used to explode

sales orders automatically over a period of time. The system will take an

order (for example 1000 units of product A) and distribute it over a period of

time (such as 30 days) with period percentages (such as 25% per week).

Click Lines to manage transactions for the current key.

Click Copy to copy transactions from an existing period allocation key to the

current key.

Click Balances to calculate allocation keys based on realised balances.

Click Setup on the Graphics tab page to define the graphical presentation.

Click Wizard to create new allocation keys.

Use Period allocation keys to also automatically generate budget

transactions for all the periods in the accounting year in Ledger budget.



Reference

7-20

7.17 TRANSFER SALES BUDGET TO LEDGER

Here you can transfer stock sales forecasts to the ledger. The stock sales

forecast is copied to the forecast for the relevant ledger accounts. Specify

the relevant Budget model (See 'Budget model' on page 7-14) in the ledger,

whether both sales- and consumption accounts should be transferred, and

whether previous transfers should be deleted by the new transfer. You can

limit the transfer, for example, by date, item number, and stock forecast

model, by clicking Select.




7-21

7.18 TRANSFER PURCHASE BUDGET TO LEDGER

Here you can transfer stock purchase forecasts to the ledger. The stock

purchase forecast is copied to the forecasts for the relevant ledger accounts.

Specify the relevant Budget model (See 'Budget model' on page 7-14) in the

ledger, and whether previous transfers should be deleted when the transfer

is made. You can limit the transfer, for example, by date, item number, and

stock forecast model, by clicking Select.



Reference

7-22

7.19 CASHFLOW FORECAST JOB

Cashflow forecasts are the estimated future ledger transactions based on

information already registered in the system. Note that the job can be batch

processed. Choose between:

• Total - clears all existing cashflow forecast transactions and recalculatesall. Use this option if it has been a long time since the last total update.

• New - use this option, for example, when you are investigating theconsequences of budget modifications.

Sources

Cashflow forecast uses information from the following modules:

Module Selected transactions

Sales order Sales orders not yet invoiced, with remaining physical or

financial sales.

Purchase order Purchase orders not yet invoiced, with remaining physical or

financial sales.

Sales ledger Open customer transactions = invoices not yet paid.

Purchase ledger Open vendor transactions = invoices not yet paid.

Ledger

transactions

Transactions where it is specified that some future posting

will take place, for example, VAT payment.

Ledger budget Registered transactions in the budget, marked for cashflow

forecast.

Customer sales

budget


forecast.

Vendor purchase

budget


forecast.




7-23

Note In VAT, VAT payment periods may not yet be created for the future. It

will still be possible to calculate cashflow forecasts, but the VAT payment

date cannot be defined.



Reference

7-24

7.20 CASHFLOW FORECASTS

Display an overview of cashflow forecasts for current source. Information is

retrieved from the Sales order , Purchase order , Sales ledger , Purchase

ledger , and General ledger modules. It allows you to see future liquidity

effects relating to updates. This way, you are able, at any time, to print out

an expected Financial statement for a given point in time, one which takes

into account expected incoming and outgoing payments. General ledger

contains information regarding future payments and disbursements in default

and foreign currencies. These records can be used to calculate future

liquidity in each of the different currencies.




7-25

7.21 LIQUIDITY

Set up the liquidity accounts to be used in currency requirements.

Liquidity allows you set up liquidity effects in connection with Cashflow

forecasts and Currency requirement. Cashflow forecasts displays an

overview for an individual account. Information is retrieved from Sales order ,

Purchase order , Sales ledger , Purchase ledger , and General ledger , so

that you can see the future liquidity effects relating to updates. This also

allows you to print an expected balance for a given time, where the expected

incoming and outgoing payments are included. The Cashflow forecast

information is used for calculating future liquidity in the individual currencies.

In the Financial statement, you can set up and print balances that include

liquidity.



Reference

7-26

7.22 CURRENCY REQUIREMENT

Currency requirement is a subset of cashflow forecasts that specifies the

future liquidity demands per currency and per date. The currency

requirement uses the calculated cashflow forecasts, but selects only

transactions on the liquidity accounts that are set up in the Liquidity form

under Setup.

Click Calculation to calculate the liquidity for the accounts set up based on

the cashflow forecasts. Note that the job can be batch processed.

Click Requirements to inquire on the requirements, per currency or in total.




7-27

7.23 LEDGER POSTING GROUPS

Once VAT has been calculated and updated, they are posted in a ledger

account. The ledger accounts, that the VAT is posted in, are determined by

the VAT code. Since each ledger account can use several VAT codes,

posting is determined for a ledger posting group. Each ledger posting group

can contain several ledger accounts. The way each account is used is

indicated in the description field for that account. If you make changes to the

ledger account numbers in Ledger posting groups, it will only affect

transactions that have not yet been posted.

To associate ledger accounts with posting groups, see Set up ledger posting

groups (See 'Set up ledger posting groups' on page 6-3).



Reference

7-28

7.24 VAT CODES

A VAT code includes information on how the VAT is calculated, how the VAT

is posted, how the VAT is reported, when payments are made, and to whom

payments are made. The VAT rate can be defined for various intervals and

periods in Values, and limits on VAT amounts can be defined in Limits.

Create VAT codes when you set up the system, and update when changes

to existing VAT is made, or when new VAT is set up. Since VAT often

depend on geographic location, changes to the company's market can result

in the need for new VAT codes.




7-29

7.25 TAX AUTHORITIES

Authorities to whom Vat is reported. VAT can be paid through a vendor, or

directly to the tax authority. To pay VAT through a vendor, specify the

vendor's account number along with the correct tax authority. VAT payments

will be transferred to the vendor making the payment. To make payments

directly to the tax authority, enter the tax authority's address information. You

should also select the VAT report layout to use when reporting to the tax

authority.

To associate a vendor, and settlement period with a tax authority, see Set up

tax authorities (See 'Set up tax authorities' on page 6-4).



Reference

7-30

7.26 VAT SETTLEMENT PERIODS

Settlement periods allow you to create and manage the periods that the

company uses to report VAT. This makes it easy to determine which VAT

transactions have already been reported to the authorities and which have

not. The system will automatically mark the settlement period that the

transaction should be reported in. When you report to the authorities, the

system will print transactions from the current period and will automatically

print all transactions that should have been included in previous periods if

the field Include corrections1 on the VAT tab page in General ledger

parameters is checked.

To create new periods, click the Periods tab page, and then New period.

Tip Always create enough periods into the future to cover cashflow forecasts

horizons.

1 To allow VAT corrections to be reported together with ordinary VAT transactions in the following VAT

payment, select this check box. The VAT report including corrections from the previous period will notbe marked as a correction report.

Also, the VAT payment dialogue in Periodic no longer contains the VAT payment version field in whichyou select to print a corrections report. Corrections for a specific period can be inspected from theSettlement periods screen by clicking the VAT payment button, and then the Posted VAT correctionsbutton.




7-31

7.27 VALUES

Specify VAT rates for a particular VAT code. Once you have selected the

desired VAT code in VAT codes (See 'VAT codes' on page 7-28), you can

specify intervals in the calculation base, which have various rates. This

information is provided when you define VAT, and is immediately updated

when rates are changed. These changes do not affect VAT that has already

been posted.

Notes

• Since the calculation can depend on the size of the base, you canindicate several rates and a corresponding interval within which the base

must fall.

• Since the VAT rate can vary over time, you can specify a date intervalfor a particular record. When this is done, the rate will only be applied forthe given period.






1

INDEX

approve general journals 1-3

budget 7-14, 7-20, 7-21

budget model 7-14

cashflow forecast in budget 4-3

cashflow forecast in ledger 4-4

cashflow forecast in sales and

purchase 4-2

cashflow forecasts 4-2, 4-3, 4-4,4-

5, 7-22

closing sheet 7-10

consolidation setup 3-2

consolidations 3-2, 3-3, 7-15

create general journals 1-2

currency requirements 5-2, 5-3, 7-

25

exchange adjustment ledger 7-2

general journals 1-2, 1-3, 1-4

item VAT groups 6-9

journalise transactions 7-4

ledger posting groups 6-3

ledger settlements 7-3

liquidity 7-25

monthly closing 2-2, 2-3

number sequences 7-12

opening transactions 7-9

period allocation keys 7-19

periods 7-19

post general journals 1-4

set up currency requirements 5-2

setting up 6-2

settlement periods 6-5

system accounts 7-11

tax authorities 6-4

transaction journal 7-5

transferring budget 7-20, 7-21

VAT codes 6-6

VAT groups 6-8

VAT payment 7-8

VAT setup 6-2

VAT values 7-31

yearly closing 2-2, 2-4, 7-9, 7-10



Documents

AX-300-USG-001-v01.00-ENGB -user guide.pdf