Microsoft Dynamics AX 2012 R3 Financials - General Ledger Setup

Below are the basic setups for GL

1.       Setup legal entity

a.       County

b.      Language

c.       Date time

d.      Organization administrationàArea pageàLegal entity

e.     

2.       Organizational hierarchy (optional)

a.       Purpose (centralized payment, organizational chart, etc)

b.      Organization administrationàArea pageà Organizational hierarchy

c.      

3.       Number sequence

a.       Manual

b.      By Wizard (for all the maters [modules])

c.       Scope parameters

                                                               i.      Company ( we can give the reference to a module )

                                                             ii.      Legal entity ( we can’t give the reference )

d.      Organization administrationàArea pageà Number sequences  

4.       Financial dimensions

a.       System defined (department, customer, vendor, worker)

b.      User defined (Custom)

c.       General ledgeràArea pageà SetupàFinancial dimensions

5.       Accounting structure

a.       Main accounts

b.      Financial dimensions (to validate the data or for reporting )

c.       General ledgeràArea pageà Setupàchart of accountsàconfigure account structures

d.     

6.       Chart of accounts (shareable)

a.       Main accounts

b.      General ledgeràArea pageà  Setupàchart of accountsàChart of accounts

c.      

7.       Link to legal entity (Ledger form)

a.       Accounting structure

b.      Chart of accounts

c.       Currency

d.      Exchange rate

e.      Fiscal calendar

f.        General ledgeràArea pageà Setupàledger

g.      

8.       Set up currency

a.       Accounting currency (1 for company) Ledger form

b.      Reporting currency (1 for company) ledger form

c.       Triangulation currency (1 for company)

                                                               i.      If there is no direct conversion between two currencies then we use the triangulation currency to act as mediator currency.

                                                             ii.      E.g. let’s say we need to convert NOK to USD, in that care we need to set EUR as triangulation currency and convert NOK to EUR and then EUR to USD.

d.      Display currency (this is mainly for reporting purpose and is temporary).

9.       Exchange rate (shareable)

a.       From and to Currency

b.      Quotation (1, 10, 100 units)

c.       Start date

d.      Exchange rate

10.   Revaluation accounts (only if you are using multiple currency)

a.       Unrealized Gain / Loss ( Need to run Forex batch job, these are projections but not real)

b.      Realized Gain / Loss ( Actuals, real)         

11.   Fiscal calendar (Shareable)

a.       Fiscal periods

                                                               i.      Name

                                                             ii.      Start and end date

                                                            iii.      Interval (day / month / year)

b.      Link with legal entity (Ledger )

                                                               i.      Period code

1.       Opening (closed )

2.       Operating (open)

3.       Closing (on hold)

                                                             ii.      Module level access ( All / none /  user group)

12.   Journal Names

a.       Journal types (Daily, etc)

b.      Voucher number ( number sequence )

c.       Private (to restrict access e.g. for specific use or user group)

d.      Approval ( manual / workflow)

e.      Posting restrictions (All / user / user group)

f.        Journal control ( ledger / customer / vendor/ fixed asset / bank / job)

13.   General Journal

a.       Daily journal ( with or without work flow )

b.      Periodic journal

c.       Template (amount / percentage )

d.      Posting journal

e.      Reverse the transaction

14.   Audit trails

a.       Voucher transaction

Happy