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Chapter 1: General Ledger Setup

CHAPTER 1: GENERAL LEDGER SETUP


Objectives
The objectives are:

Set up Currencies and Exchange Rates.

Create Periods in a new fiscal year.

Create Date intervals.

Create, modify, and delete reason codes.

Create a Financial dimension value.

Create a Dimension Set.

Set up allocation rules.

Contrast the various allocation methods.

Introduction
A general ledger is a formal ledger that contains a companys accounting records.
To make the General ledger functional, setup the chart of accounts, fiscal
calendars, legal entities, and currencies. The chart of accounts is a list of main
accounts and financial dimensions that are allowed by one or more account
structures.
Fiscal calendars specify what time period financial data is posted, while currency
setup determines which currencies are available for business transactions.
This course explains how to work with the chart of accounts and its multiple
dimensions. These dimensions may be used to track profits, cost centers, and
other important financial information.
Allocation rules and methods are also defined in this course.

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Currency and Exchange Rate Setup


Currency setup is a mandatory step in Microsoft Dynamics AX and is used to
record financial transactions.
Multi-currency functionality may be used if your company does business in
more than one currency. If your organization has multiple legal entities and
transacts in multiple currencies, then maintaining currencies and their
corresponding exchange rate is essential.

Currency Setup
In Microsoft Dynamics AX, all currencies are provided by default. The
currencies are loaded the first time a user opens the General ledger parameters
form.
To view currencies click General ledger, click Setup, click Currency, and then
click Currencies.

FIGURE 1.1 CURRENCIES FORM

Only one currency can represent the Triangulation currency. By default, the EUR
currency is selected as the Triangulation currency. To change the Triangulation
currency, you must first clear the Reference currency for triangulation check
box on the EUR record in the Currencies form. Then, you can select the
Reference currency for triangulation on the desired currency.

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Chapter 1: General Ledger Setup


Currency Names and Symbols
Each currency may have specific attributes associated with it. The name, symbol
and currency code are specific to each currency. The following illustrates
currencies:

$ - U. S. dollar

- Euro

Field

Description

Currency
The unique identifier a code of up to three characters
for the selected currency.
Examples:
USD- U.S dollar

Name

EUR - Euro

CAD - Canadian dollar

A description of the currency. This is typically printed


on checks and other documents.
Examples:
U.S dollar

Euro

Canadian dollar

Symbol

Typically used on reports


Example: $

Currency
Code

The standard code of the currency as defined by the


International Organization for Standardization (ISO).

Accounting and Reporting Currencies


Microsoft Dynamics AX uses the concept of Accounting currency and
Reporting currency.

Accounting Currency: The customary monetary unit of measure


used to record the converted monetary value of economic
transactions in ledger accounts. In previous releases of Microsoft
Dynamics AX, this was called the company currency.

Reporting Currency: The monetary unit of measure used to record


the converted monetary value of economic transactions in ledger
accounts for financial and management reporting purposes.

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An example of this would be if you had a subsidiary company in Canada, your
primary company is in the United States. When running reports you want to see
the results of the business operations in Canadian dollars (CAD). To accomplish
this, you must convert your U.S. dollars (USD) to CAD, the system uses the
exchange rate defined on the Exchange rates form to convert the amounts for
reporting purposes.

Procedure: Enable a Currency for Currency Conversion


The Currency Converter setup allows numeric conversions for online
transactions. If the Conversion box is selected, the system will automatically
convert transaction amounts in grids using the exchange rates in the lower pane.
This setup allows the display of financial information in a currency other than
the default company currency in forms and reports. This conversion is
completed by double-clicking the Currency converter in the Status bar in these
forms.
Perform the following steps to convert to another currency.
1. Click General ledger, click Setup, click Currency, and then click
Currencies.
2. Select a currency.
3. Select the Conversion check box to enable a currency for
conversion.
4. Specify the currency's symbol before or after an amount, in the
Prefix or Suffix fields.
HINT: Enter a space before the currency symbol to separate the currency
amount and the symbol.

Changing the Display Currency


After a currency is enabled for currency conversion, you can display financial
information in a form or report using a currency other than the ledger accounting
currency. Do this by performing the following steps:
1. On the status bar, click the Currency field to open the Currency
converter form.
2. Select any of the currencies that have been set up for conversion in
the Currency converter form.
3. Enter the date used for the conversion in the Date of rate field.
4. Click a currency to select the new currency.

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Chapter 1: General Ledger Setup


The Currency converter form will automatically close, and the Currency field
on the status bar displays the new currency. All the forms, inquiries, and reports
that originally displayed amounts in the company's currency now display the
currency selected.
Perform the following steps to return to the default company currency:
1. Open the Currency converter form.
2. Click the Reset button to return to the ledger accounting currency.

Procedure: Set Rounding Options


Perform the following steps to set the Rounding options for each currency.
1. From the Currencies form, select a currency.
2. Tab to the Rounding Rules section.
3. Round the sums according to a fixed unit for general transaction
amounts
For example, amounts on transactions are rounded to the nearest unit
to 0.01. Specify the general unit for rounding in the General roundoff field.
4. Round sums for Sales orders, Purchase orders, and Prices. These
have a Rounding option as well as a Rounding method.
Rounding Option - Enter the unit for rounding amounts, such as 0.10 or 1.00.
Rounding Method - Select the rounding convention that applies to the number
to the right of the round-off unit that is entered in the Rounding rule text box:

Normal round up numbers 5 and higher and round down numbers 4


and lower.

Downward round down all numbers.

Rounding-up round up all numbers.

NOTE: The value in the General round-off field affects all values in all modules.

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Rounding Option Considerations
All posting amounts are rounded off to the nearest factor of the specified unit,
regardless of whether they are calculated and posted automatically or entered
manually by the user.
In the General ledger parameters form:

Specify the maximum rounding amount for a voucher in the default


currency, in the Maximum penny difference field.

Set up the rounding for secondary currencies in the Maximum


penny-rounding in secondary currency field.

FIGURE 1.2 GENERAL LEDGER PARAMETERS

Currency Gender
Currency Gender is used for Spanish speaking countries to define the gender
printed on checks and reports. Select Feminine if the selected currency has a
feminine gender and the gender is used on checks and reports.
The default value for this field is Masculine, which, in effect, means no gender.

Procedure: Create Exchange Rate Types


Exchange rates types are shared data across the entire system and only need to be
setup once. Exchange rate types are a grouping that allows different exchange
rates for two currencies. Examples include Buy, Sell, Spot, and Budget.

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Chapter 1: General Ledger Setup


Perform the following steps to set up an exchange rate:
1. To access the Exchange rates types form, click General ledger,
click Setup, click Currency, and then click Exchange rate types.
2. Click on the New button to create a new record.
3. Enter the identification of the exchange rate type in the Exchange
rate type field and a description in the Name field.
4. Save the record and close the form.

FIGURE 1.3 EXCHANGE RATE TYPES

Procedure: Create Currency Exchange Rates


If a company trades with multiple currencies, and uses multiple exchange rate
conversions. Perform the following steps to set up the additional exchange rates:
1. To access the Currency Exchange rates form, click General
ledger, click Setup, click Currency, and then click Currency
exchange rates or navigate from the Exchange rate type form.
2. Select a Exchange rate type from the drop-down list.
3. Click the New button.
4. Define the necessary exchange rates between a currency pair by
selecting a currency in the From currency and the To currency
drop-down list.

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NOTE: A currency pair can only exist once and entering a reciprocal pair is not
supported in the the system. Therefore, if you already have USD to EUR set up,
you cannot create a EUR to USD currency pair for the same exchange rate type.
The system will calculate the reciprocal rate automatically if it cannot find the
exact currency pair during the translation conversion. If you only have USD to
EUR set up and you are entering a transaction amount in EUR in a legal entity
where USD is the accounting currency, the system will first look for the exact
currency pair in the rate type used by the ledger: EUR to USD. If not found, the
system will then look for USD to EUR and calculate the reciprocal rate.
5. Define the Quotation unit. Typically the system is based on either
one unit or one hundred units. If the field is set to one hundred units,
the exchange rate should specify the equivalent of one hundred units
of the foreign currency. For example, if the "From" currency is U.S.
dollars and the "To" currency is Euro, the exchange rate should
specify how many U.S. dollars equal one hundred Euros.
6. Select the date range in by entering the From date and a To Date in
the appropriate fields. This date range is used to filter the display of
the exchange rates in the grid. By default, this range is set to 30 days
prior to and 30 days after the current date
7. It is possible to add multiple exchange rate dates for a single
currency pair by clicking the Add button.
8. It is also possible to remove exchange rate dates for a single currency
pair by clicking the Remove button.
9. Save the record and close the form

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Chapter 1: General Ledger Setup


NOTE: Because the same currency can have several rates, the posting date
determines the rate applied.
For example:
An exchange rate is entered on January 1, and another exchange rate is entered
on February 1. If a sales order is invoiced on January 15, the exchange rate from
January 1 is used to calculate the invoice amount. If an exchange adjustment is
run on February 2, the rate from February is used as an adjustment.

FIGURE 1.4 CURRENCY EXCHANGE RATES

Procedure: Create Revaluation Accounts


When running currency revaluation, exchange rate differences may occur due to
the change in exchange rates. This is also used in the customer/vendor settlement
of payments and invoices. Revaluation processes will generate unrealized
gain/loss amounts where the settlement process will generate realized gain/loss
amounts.
For each ledger, define main accounts to account for changes in exchange rate
loss or gain. Perform the following steps to set up ledger and currency specific
exchange rate loss/gain accounts:
1. Open General ledger, select Setup, select Currency, and then
select Currency revaluation accounts.
2. Select the ledger in the Ledger field.
3. Select a Currency and define the main accounts that will be posted
to for any unrealized and realized gains/losses for the currency in
that ledger.
4. Repeat the same steps for each ledger/currency.
5. Save the record and close the form.

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NOTE: This setup can also be completed from the General ledger Setup >
Ledger form if different gain/loss accounts are not required for each currency.

FIGURE 1.5 CURRENCY VALUATION ACCOUNTS FORM

Denomination Currencies
Add the currencies that are denominated as the triangulation currency and should
be triangulated through the triangulation currency during the currency conversion
process.

FIGURE 1.6 DENOMINATION CURRENCIES FORM

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Accounting and Reporting Currencies
Microsoft Dynamics AX allows Accounting and Reporting currencies.
Accounting Currency: This is the monetary unit of measure that is used to
record the converted monetary value of economic transactions in ledger accounts.
It may also be referred to as the "company" or ledger currency.
Reporting Currency: This is the monetary unit of measure used to record the
converted monetary value of economic transactions in ledger accounts for
financial and management reporting purposes.
For example:
A primary company entity is located in the United States, and a subsidiary entity
is located in Canada. To see financial reports in the Canadian (CAD ) currency,
the system uses the exchange rates defined in the Exchange rates form to
convert USD to CAD amounts.

Procedure: Change the Display Currency


After a currency has been enabled for currency conversion, perform the
following steps to display financial information in a currency other than the
default company currency:
1. On the status bar, click the Currency field to open the Currency
converter form.
2. Select any of the currencies that have been set up for conversion in
the Currency converter form.
3. Enter the date used for the conversion in the Date of rate field.
4. Click a currency to select the new currency.
The Currency converter form automatically closes, and the
Currency field on the status bar displays the new currency. All the
screens, inquiries, and reports that originally showed amounts in the
company's currency display the new currency.
Perform the following steps to return to the default company currency.
1. Open the Currency converter form.
2. Click the Reset button to return to the default company currency.
NOTE: When you change the display currency, the default currency of a
company does not change. Also, this is not a global change; it does not affect any
other users in the company, nor does it change the original transaction. It is also
meant to be an estimate of the amount in the selected currency.

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Lab 1.1 - Set up a Currency Exchange Rate


Scenario
Ken is the Controller for Contoso Entertainment USA (CEU). CEU uses US
dollars as the company's default currency. CEU recently gained a new customer
located in South Africa and uses the South African Rand (ZAR). Transactions for
this currency should be tracked to two decimal places. As of April 1, 2011, 12.35
USD equals 100 ZAR.
After some research, Ken has found that the following posting accounts should
be set for the new currency.
Field

Value

Realized Loss

801300

Realized Profit

801500

Unrealized Loss

801400

Unrealized Profit

801600

Challenge Yourself!
1. Set up the South African Rand (ZAR) posting accounts and rounding
options.
2. Set up the exchange rate.
3. Convert the ZAR Quotation unit to 100.

Need a Little Help?


1. To set up the currency and specify the posting accounts and rounding
options, follow these steps:
o Open the Currencies form and enter a general rounding rule.
o Open the Currency revaluation accounts form, and set
appropriate main accounts.
2. Set up the exchange rate for the ZAR currency.
3. To set up ZAR for currency conversion, select 100 in the Quotation
unit field

Step by Step
Perform the following steps to set up the currency rounding options:
1. Click General ledger, click Setup, click Currency, and then click
Currencies.
2. Highlight the Currency ZAR.

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Chapter 1: General Ledger Setup


3. Click the Rounding rules FastTab and in the General rounding
rule field, enter .01.
4. Click Close to close the form.
Perform the following steps to set up the currency posting accounts:
1. Click General ledger, click Setup, click Currency, and then click
Currency revaluation accounts.
2. Select ceu as the Ledger.
3. Highlight the Currency ZAR.
4. In the Realized gain line, enter 801500 in the Main account field.
5. In the Realized loss line, enter 801300 in the Main account field.
6. In the Unrealized gain line, enter 801600 in the Main account field.
7. In the Unrealized loss line, enter 801400 in the Main account field.
8. Click Close to close the form.
Perform the following steps to set up the exchange rate. Every currency requires
one exchange rate entry with a blank date.
1. Click General ledger, click Setup, click Currency, and then click
Currency exchange rates.
2. In the Exchange rate type field, select Default in the drop down list.
3. Click the Add button.
4. In the Start Date field, click the calendar icon.
5. Select 04/01/11.
6. In the Exchange rate field, enter 12.3500
Perform the following steps to set up ZAR for currency conversion.
1. Select 100 in the Quotation unit field.
2. Click Close to close the form.

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Periods and Fiscal Year Setup


The fiscal year in Microsoft Dynamics AX can be:

Set to any length

Divided into any number of periods

Shared across multiple legal entities

Both fiscal year and periods can be set up by the following measurements of
time:

Years

Months

Days

Each period (at the ledger level) can be:

Closed completely or put On Hold to block transaction postings

Set to enable selected users to continue an update of one or more


modules

The periods and fiscal year feature is very useful for the preparation and
reconciliation of periodic and yearly accounts

Set Up Periods and Fiscal Year


Fiscal calendars are shared across multiple legal entities. The benefits of sharing
fiscal calendars include:

Supporting multiple fiscal calendars for each legal entity.

For example: Fixed assets may require two calendars one for auditing purposes
and one for tax purposes. Having multiple calendars allows you to run parallel
depreciations.

Reduces the amount of setup required for each legal entity as it is


possible to use the same fiscal calendar for multiple legal entities.

Before posting transactions, a new fiscal year must be divided into periods as
transactions cannot post unless a period is created for the posting date.
NOTE: Microsoft Dynamics AX posts transactions according to dates as
opposed to periods. Accounting periods are used for reporting. Closing of
accounting periods allows the user to close the sub-ledger to make sure that no
additional transactions are recorded.

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Scenario
Phyllis, the Accounting Manager, wants to define calendars for different
purposes and share them across different ledgers without having to create them in
each legal entity.

Procedure: Create Shared Fiscal Calendar


Perform the following steps to create a new fiscal calendar:
1.
2.
3.
4.
5.
6.
7.
8.

Click General ledger, click Setup, and then click Fiscal Calendar.
Click the New fiscal calendar button.
Enter the name of the calendar to be created in the Calendar field.
Enter a description of the fiscal calendar in the Description field.
This description may print on reports.
Enter the Start and End dates of the initial fiscal year in the
appropriate fields.
Enter a Fiscal year name of the initial fiscal year to be associated
with this fiscal calendar.
Enter the Length of the period and the Unit of the periods. These
fields work together to determine how many periods will be created.
Click the Create button.

NOTE: There will always be an Open and Closing period created along with the
number parameters specified in the Length of the Period and the Unit fields.

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Example:
Length of period
entered in setup

Unit entered in
setup

Number of Periods
Created

Days

367

Months

14

Year

FIGURE 1.7 FISCAL CALENDAR YEAR FORM

Review New Periods


When you create a new fiscal year, the system creates the following:

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An opening period with the Type of Opening

A number of periods (or period) with the Type of Operating

A closing period with the Type of Closing

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NOTE: There is no Period status control on the Fiscal Calendar form. This is
because when you are sharing a calendar across multiple legal entities, all legal
entities may not be ready to be closed at the same time. Therefore, you control
the period status on a per-legal entity basis, in their ledger (General ledger >
Setup > Ledger > Ledger calendar).
The period types are defined as follows:

Opening the period can be used to record opening balances from


the previous period.

Operating the period can be used to record accounting


transactions.

Closing the period can be used to record general ledger


transactions for closing a fiscal period.

Modifying Fiscal Calendar


Once the Fiscal Calendar is created, it is possible to Divide, Delete, or Create
closing period in the Fiscal calendar form by clicking the appropriate button.

To divide an existing period into two periods, click the Divide


period button. Enter the start date of the new period, and then click
OK to create the new period and return to the Periods form.

To create a closing period for a fiscal period, click the Create


Closing period button. The system automatically creates an opening
and closing period for the fiscal year, but not for each individual
period.

NOTE: It is also possible to create multiple closing periods. This provides the
ability to track internal button external audit adjustments (for example) in
separate periods.

To delete period with an Operating status click the Delete button.


The Delete button is not available if the selected fiscal period has a
status of Opening. No warning or error message appears when an
open period with transaction history is deleted. The transactions are
not deleted, and the end date of the period prior to the deleted period
changes to coincide with the beginning date of the next period.
After making changes to periods, it is recommend to run the
Recalculate ledger period functionality.

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Lab 1.2 - Create Periods in a New Fiscal Year


Scenario
Ken, the Controller for Contoso Entertainment USA (CEU), must create a new
fiscal year. CEU has a fiscal year that begins on July 1, and is divided into onemonth periods.

Challenge Yourself!
Create the fiscal year calendar for 2012, which begins on July 1, 2011.

Need a Little Help?


1. In the Fiscal calendars form, click the New fiscal calendar button
to create the fiscal year for 2012.
2. Select the period length of one month.

Step by Step
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.

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Click General ledger, click Setup, and then click Fiscal Calendar.
Click the New fiscal calendar button.
Enter FIS-2012 in the Calendar field.
Enter Fiscal Year 2012 in the Description field.
In the Start of fiscal year field, enter 7/1/2011.
In the End of fiscal year field, enter 6/30/2012.
Enter 2012 in the Fiscal year name field.
In the Length of period field, enter 1.
In the Unit field, click the arrow to select Months.
Click the Create button to create the year.
Click Close to close the form.

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Chapter 1: General Ledger Setup

Date Intervals
Create and manage date intervals that can be used in financial statements and
reports. Date intervals allow you to create dynamic dates. When you use date
intervals, you can set up predefined periods when you run financial statements.
Date intervals can also be used when setting up an allocation rule.

Scenario
Ken, the Controller at Contoso Entertainment USA (CEU), runs a dimension
statement every month. Instead of entering the dates every time he runs the
report, he selects a date interval.
The date interval automatically fills in the start date and the end date. Therefore,
Ken does not have to specify the start date and the end date when he runs the
dimension statement.

Procedure: Create Date Intervals


Perform the following steps to create date intervals:
1. To access the Date intervals form, click General Ledger, click
Setup, click Periods, and then click Date Intervals.
2. Click the New button to create a new record.
3. Enter a date interval code in the Date interval code field. Use a code
that is easy to identify when you set up date intervals on statements
and reports, such as CP for the Current period.

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4. Enter a short description of the date interval, in the Description
field.

FIGURE 1.8 DATE INTERVALS FORM

Procedure: Create Date Intervals - Start/End


Perform the following steps to further define the date interval start and end dates.
1. From the Date intervals form, click the General tab.
2. Select the time unit that is the basis of the calculation in the Before
list.
3. Specify the starting point of the interval in the Start/End field. This
data is used with the value in the Before list to set the starting point
of the date interval.
The following examples are for Before and Start/End fields:

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Field name

Value

Before

Fiscal year

Start/End

Start

Calculation date

3/13/2012

Starting point

1/1/2012

Field name

Value

Before

Quarter

Start/End

End

Calculation date

3/13/2012

Starting point

3/31/2012

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NOTE: The Calculation date field is equal to the system date. Changing the
system date, (File > Tools > Session Date), will change all the values in the
Date calculation area of the form accordingly.

Procedure: Create Date Intervals - Future or Past


Perform the following steps to set whether a date interval moves into the future
or the past
1. From the Date intervals form, click the General tab.
2. Indicate whether the interval should move into the future or into the
past, by selecting + for future or - for past in the +/- field. The +/field is based on the Before field. The number is multiplied by the
time units in the Days, months, years or periods field.
3. Select the unit for change of start date in the interval in the Days,
Months, Years or periods field. The number of units is displayed in
the +/- field. The choices are reflected in the After adjustments
field.
The following examples are of the +/- field and the Days, months,
years and period fields:
Field

Value

Before

Year

Start/End

Start

+/-

Days, months, years and periods

Years

Calculation date

3/13/2012

Starting point

1/1/2012

After adjustment

1/1/2012

Field

Value

Before

Year

Start/End

Start

+/-

-1

Days, months, years and periods

Years

Calculation date

3/13/2012

Starting point

1/1/2012

After adjustment

1/1/2012

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NOTE: If the +/- field and Days, Months, Years or periods field is empty, the
After adjustments field equals the starting point value.

Procedure: Create Date Intervals - After


Follow these steps to select the basis for adjustment of the date in the After
adjustments field.
1. From the Date intervals form, click the General tab.
2. Select a time unit to determine the start date or the end date of the
From date field in the After field.
The From date field is based on the value in the After adjustments
field. The From date is used as the basis of calculation in financial
statement columns, and can be the start or the end date of a time unit
selected in the After field
3. Select whether the time unit in the After field should be set in the
beginning or the end of the time unit in the Start/End field.
The following examples are of the After field and the Start/End
field.
Field

Value

After adjustments

4/17/2012

After

Fiscal year

Start/End

Start

From date

1/1/2012

Field

Value

After adjustments

4/17/2012

After

Quarter

Start/End

End

From date

6/30/2012

Procedure: Create Date Intervals - Locked Start


Perform the following steps to use a specific date.
1. From the Date intervals form, click the General tab.
2. Enter a fixed start date, in the Locked start field. All other values
are overwritten, and the value is transferred to the From date field.

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Chapter 1: General Ledger Setup

Reason Codes
Reason codes are standardized codes that can be used in various transaction types
or changes to field values to provide background data about the transaction. For
example, auditors or managers frequently want to see reasons recorded for
various transactions such as reversals.
When you use standard reason codes instead of transaction text, you have
guidelines for which codes to select from. Standard reason codes also allow
management and auditors to analyze transaction history by specific reason.
Reason codes can be used with the following:

General ledger

Accounts payable

Accounts receivable

Bank

Procedure: Create a Reason Code


A reason code can be selected in the following General ledger entry processes:

General journal entry

Process allocation requests

Elimination proposal

Consolidation, Online periodic

Perform the following steps to create a General ledger reason code:


1. To access the Reasons form, click General Ledger, click Setup,
and then click Ledger reasons.
2. Click the New button to create a new reason.
3. Enter a unique Reason Code as identification.

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4. Enter a Default Comment for the reason code. The comment
entered here is displayed as the default comment when you select
this reason in transactions. You can change the default reason
comment.

FIGURE 1.9 LEDGER REASONS FORM

Procedure: Modify a Reason Code


Reason codes can be modified at any time. The Default comment and Account
types can be changed.
Perform the following steps to modify a reason code:
1. To access the Reasons form, click General Ledger, click Setup,
and then click Ledger reasons.
2. Select the Reason Code to modify.
3. Modify the Default Comment for the reason code.
4. Clear the Ledger check box. As soon as the Ledger check box is
cleared, the reason code is no longer displayed in the General ledger
transaction entry forms, and is unable to be used.

Procedure: Delete a Reason Code


Perform the following steps to delete a reason code.
1. To access the Reasons form, click General Ledger, click Setup,
and then click Ledger reasons.
2. Select the Reason Code to be deleted.

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3. Clear the Ledger check box. You can delete a Reason code only if
no account types are associated with it. If the Reason code has been
selected for use from another module, clear the other Account type
check boxes or view the Reasons form from Basic to clear all
Account type check boxes.
4. Click the delete icon.
5. Click Yes in the Confirm deletion dialog box.

Financial Dimensions
Financial dimensions have the following characteristics:

Provide a more detailed description of a transaction.

Simplify the accounting process when you enable detailed analysis


without the creation of a detailed Chart of Accounts.

Are defined to analyze and classify financial transactions as follows:


o
o

Financial transactions usually are organized according to


voucher and account number.
Additional grouping and classification options are available
when you assign several dimensions to transactions.

Enable you to view the data file from different perspectives to


improve the effectiveness in tracking figures across accounts.

Can be used throughout the system.

Add dimensions to base data such as:


o
o
o

Ledger accounts
Customers
Vendors

Are copied to transactions automatically.

Scenario
Ken, the Controller at Contoso Entertainment USA, must analyze company
figures from a perspective other than only ledger accounts. Ken wants to make
reports and sales statistics inquiries based on cost centers and departments.
Therefore, he decides to set up dimensions as a supplement to voucher and
account numbers.

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Procedure: Create a Financial Dimension
Perform the following steps to create a new financial dimension.
1. To access the Financial Dimensions form, click General ledger,
click Setup, click Financial dimensions, and then click Financial
dimensions.
2. Click the New button.
3. In the Use values from field, select a system-defined entity to base
the financial dimension on. Financial dimension values will be
created from this selection. For example, to create dimension values
for projects, select Projects. A dimension value will be created for
each project name.
4. Enter the name of the financial dimension in the Dimension name
field.
5. In the Report column name field, enter the name of the financial
dimension to be displayed as a column name on reports.
6. In the Dimension value mask field, enter a format mask to use for
creating financial dimension values. A format mask limits the
amount and type of information that you can enter for dimension
values. For example, if the dimension value should be 3 characters,
you could enter XXX.
7. This field is available only when you select < Custom dimension > in
the Use values from field.
8. Click the Financial dimension values button to enter more details
about the financial dimension.

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9. Click the Translations button to open the Text translation form, in
which you can enter text to be displayed in different languages for
the selected financial dimension.
10. Click Main account translation to open the Text translation form,
in which you can enter text to be displayed in different languages for
the main account.

FIGURE 1.10 FINANCIAL DIMENSIONS

Financial Dimension Value Details


Use the Dimension Values Detail form to set up the details for financial
dimension values. You can set options for dimension values that can be shared
between a chart of accounts and a legal entity. You also can set specific options
for dimension values based on the chart of accounts or legal entity specified.
Click the Financial dimension values button in the Financial dimensions form
to enter detailed values.
NOTE: Depending on your selection in the Select the level of dimension value to
display field, some fields will not be available

Field

Description

Dimension
Value

Displays the financial dimension value for the dimension


selected in the Dimension details form

Description

The description for the financial dimension value.

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Field

Description

Select the
level of
dimension
value to
display

Select the level of the financial dimension value to display. If


you select Shared value, fields that can be shared between a
chart of accounts and a company are displayed. You can the
values for a specific chart of accounts or legal entity by
selecting Chart of accounts or Companies.
If you select Chart of accounts, some fields will not be
available and you can override the shared information for the
selected chart of accounts.
If you select Companies, some fields will not be available,
you can override the shared information for the selected
company, and additional fields specific to the selected
company will be displayed.

Financial Dimension Value Details General


Expand the General tab to enter general parameters detail for the dimension.

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Field

Description

Active from

Enter or select the date that the financial dimension value


is active from. If you leave it blank then it uses the
beginning of time.

Active to

Enter or select the date that the financial dimension value


is active to. If it is left blank, it uses the end of time.

Suspended

Select this check box to prevent all postings to the


selected financial dimension value.
You cannot suspend a financial dimension value that is
assigned as a budget group account on another account.

Owner

Select the employee number for the employee who is


responsible for this financial dimension value.

Group
Dimension

Enter a group dimension name. This can be used to


group specific financial dimension values into the same
dimension value when you consolidate legal entities.
This field is available only when Shared value is
selected in the Select the level of dimension value to
display field.

Calculate total
from multiple
dimension values

Select this check box to sum up amounts from one or


more dimension values.
This field is available only when Shared value is selected
in the Select the level of dimension value to display field.

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Field

Description

Do not allow
manual entry

Select this check box to prevent a user from manually


entering a value for this financial dimension in journals.
This field is available only when Shared value is
selected in the Select the level of dimension value to
display field.

Companies
If Companies is selected in the Select the level of dimension value to display
field, Financial Statement Formatting and Cost accounting tabs become
available.
The following describes how to use each of the fields in the expanded Financial
Statement Formatting tab:
Field

Description

Invert sign

Select this check box to hide the minus sign on the


financial statement report when this financial dimension
is represented. Typically, revenue and expenses are
displayed in both credit and debit balances so that credit
balances have a minus sign and debit balances have no
sign. When this check box is selected, the minus sign in
front of revenue on the report is not displayed.

Column

Select the column number that the financial dimension is


printed to when the financial statement is printed.
You can define how many columns will be used to print
a single column definition. For example, if you enter a 2
in the Number of columns field in the Financial
statement form, for a definition that shows the current
balance, the balance for this financial dimension will be
printed in 2 columns.

Bold

Select to print the selected financial dimension in bold


type on the financial statement.

Italics

Select to print the selected financial dimension in italic


type on the financial statement.

Line above

Select to precede the selected financial dimension with a


blank line on the printout of the financial statement.

Line below

Select to follow the selected financial dimension with a


blank line on the printout of the financial statement.

Underline text

Select to underline the text when the selected financial


dimension is printed on the financial statement.

Underline
amount

Select to underline the amounts when the selected


financial dimension is printed on the financial statement.

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The following table describes how to use each of the fields in the expanded Cost
accounting tab:
Field

Description

Blocked for cost


transactions

Select this check box to prevent a user from entering a


cost transaction in Cost accounting for this financial
dimension.

Blocked for
service
transactions

Select this check box to prevent a user from entering a


service transaction in Cost accounting for this financial
dimension.

Blocked for
distribution

Select this check box to prevent a user from entering a


distribution in Cost accounting for this financial
dimension.

Blocked for
allocation

Select this check box to prevent a user from entering an


allocation in Cost accounting for this financial
dimension.

Financial Dimension Templates


Dimension templates may be used for common patterns used to distribute source
document amounts. Use the Financial dimension default templates form to
create a template of percentage and financial dimension value combinations. The
information in the template will be used to display default financial dimension
values when you distribute source document amounts.
Select General Ledger, click on Setup, then Financial dimensions, then
Financial dimension default templates. Use the following table to enter the
appropriate information:

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Field

Description

Template ID

Enter an identification for the template.

Template percentages and


dimension values

Enter the percentage to apply to the


distribution.

Financial dimensions

Select the dimension to use with the


percentage to apply to the distribution.

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Financial Dimension Entry
After dimension values are set up, you can assign them to the following:

Ledger accounts

General ledger transactions

Accounts Receivable transactions

Customers

Accounts Payable transactions

Vendors

For example, customer 4037 may be set up by department and cost center
dimensions. When a sales order is created for customer 4037, the defined
dimensions are populated on the sales order automatically, but the values can be
changed.
Throughout Microsoft Dynamic AX, you can separate data in different ways by
using dimensions. For example, you can attach a department number to each
transaction and then run a query that shows balances by department code.

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Lab 1.3 - Assign Ledger Account Dimension Values


Scenario
Phyllis, the Accounting Manager, at Contoso Entertainment USA (CEU) has
been asked by Charlie, the President and CEO, for monthly financial reports by
department, cost center, and purpose. Phyllis has determined that cleaning
expenses for the building should always be recorded to the Building maintenance
cost center.

Challenge Yourself!
Help Phyllis enter the necessary dimension validation options for account
605110.

Need a Little Help?


To guarantee the accuracy of the financial reports, make sure that transactions
posted to the cleaning expense account (605110) always specify:
1. Cost center dimension - Building maintenance

Step by Step
1. Click General ledger, click Common, and then click Main
accounts.
2. Select account 605110, Cleaning expense, and click the Edit button.
3. Select Companies in the Select the level of main account to display
field.
4. Select CEU in the Companies field. You may have to click on the
green cross icon to select the company.
5. Expand the Financial Dimensions FastTab.
6. In the Cost center field, click the arrow to select the Building
maintenance account.
7. Close the form.

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Financial Dimension Sets


Financial dimension sets have several purposes. Financial dimension sets are
used to determine how reports and inquiries related to the general ledger are
rendered.
Financial dimension sets are used to calculate balances during the posting
process. Balances can also be scheduled for calculation or manually updated.
Balances are stored based on the financial dimension set and are calculated based
on the option to calculate with posting or batch schedule. Financial dimension
sets also drive the data displayed in the Trial balance list page.
The order in which financial dimension sets are considered in reporting effect
how transactions are sorted and fields are presented. For example, the set
Department and Cost center indicates that the Department dimension type is
first and Cost center second. Therefore, the considered financial set is the
composite of Department and Cost center. Department amounts are presented
first and Cost center amounts are presented second.
The defined financial dimension set can be used alone or in pairs when inquiring
or reporting on financial transactions. The selection of a primary and secondary
financial dimension set is considered when presenting the results. The secondary
financial dimension set details the figures of the primary dimension set. The
selection of a secondary financial dimension set is limited to focuses that do not
share a dimension type with a primary dimension set. Therefore, if the primary
dimension set is the composite of Main account and Department, these cannot
be select in the secondary financial set.

Scenario
Sara, the Chief Financial Officer (CFO) at Contoso Entertainment USA (CEU),
must:

Analyze financial transactions based on dimensions and ledger


accounts combined. For example, Sara views sales revenue for each
department or country.

Determine how financial transactions should be organized when


users run reports and make inquiries.

To view the sales revenue for all departments in CEU, Sara decides to create a
dimension set that consists of ledger accounts and departments dimensions.

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Procedure: Create a Financial Dimension Set
Perform the following steps to create a dimension set:
1. To access the Financial dimension set form, click General Ledger,
click Setup, click Financial dimensions, and then click Financial
dimension sets.
2. Enter a unique identifier to name the new dimension set in the
Financial dimension set field.
3. Enter a descriptive name in the Name field.
4. Expand the Financial dimension FastTab.
5. Select one or more dimensions in the Available dimensions pane
that should be included in the financial dimension set.
Click the arrows to add the dimensions to the Selected dimensions
pane. At least one dimension must be selected for each financial
dimension set.
The financial dimension that is the primary row pattern (primary
financial set) must be listed first, and the dimension shown within
each primary row must be listed second (secondary financial set).
For example, to print a report that displays sales revenue per
department, the department dimension should be selected first and
ledger accounts selected second.

FIGURE 1.11 DIMENSION SETS FORM

Period Allocations
Allocation is the process of distributing monetary amounts to one or more
accounts or account and dimension combinations.
Microsoft Dynamics AX has the ability to use predefined allocation rules to
perform generated allocations. Generated allocation is the distribution of posted
or fixed amounts to combinations of destination accounts and dimensions at any
time, which generate new journal entries.

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Allocation rules have numerous calculation methods, including:

Basis

Fixed percentage

Fixed weight

Spread even

Allocations also provide the ability to allocate across multiple companies, also
known as Intercompany allocations.

Scenario
Phyllis, the Accounting Manager at Contoso Entertainment USA (CEU), creates
a new Intercompany allocation rule for Electric Utilities to distribute overhead
utility expense to each department based on fixed percentages. The rule is for the
new fiscal year that begins on January 1, 2012. Because Phyllis does not want the
new rule to be used until then, she enters 01/01/2012 as the start date for the rule.
Because CEU typically reviews its allocation rules every fiscal year, Phyllis
enters 12/31/2012 as the end date for the rule.
Phyllis enters detailed notes about the basis and reasons for the allocation rule.
Phyllis then selects the Microsoft Word template that was implemented when
CEU experienced an audit review to document the allocation rule completely.
When Phyllis has finished writing the document, she attaches a copy of it to the
rule. Anyone who wants additional information about the rule can open the
document or print an Allocation rules definition report.

Ledger Allocation Rules


Ledger allocation rules allow you to define the results you want in the allocation
business process.
Each ledger allocation rule has the four primary components:

The General settings dictate which fields are available in the rule
tabs.

The Source data for the allocation is also known as the allocation
pool.

The Destination defines how the results of the allocation calculation


must be distributed to the destination distribution lines.

Offset entries balance the destination distribution lines.

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Procedure: Create a Ledger Allocation Rule
Perform the following steps to create an allocation rule:
1. Click General ledger, click Setup, click Posting, and then click
Ledger allocation rule.
2. Click the New button to create a new rule.
3. Enter the Rule as identification.
4. Enter a Description of the rule.
5. Optionally select the Effective start date and Effective end date for
the rule.
6. Select the Active check box, if the allocation rule is available to be
processed.

FIGURE 1.12 LEDGER ALLOCATION RULE FORM

Procedure: Create a Ledger Allocation Rule - General


Perform the following steps to complete the setup of allocation rule general
settings. These dictate what fields are available in the rule tabs.
1. From the Ledger allocation rule form, select the General tab.
2. Review or change settings from the Overview tab in the
Identification and Administration sections.
3. View the Date last run, which displays the date when a user last
processed the allocation rule and created distributions.

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4. Select the Intercompany rule check box if the allocation rule
involves being processed among multiple companies.
5. Select the Allocation method:
o Basis: Defines how and in what proportion the source amounts
are distributed to the various destination lines. For example,
allocation based on revenue dollars, in which the cost of
corporate advertising expense is shared across all departments, is
based on each department's sales in proportion to total
departmental sales.
o Fixed percentage: Takes criteria defined in the allocation source
and uses a fixed percentage amount that the user entered, to
determine the allocation amount for the destination.
o Fixed weight: Takes criteria defined in the allocation source and
uses a fixed weight amount that the user entered, to determine
the allocation amount for the destination.
o Spread even: Takes criteria defined in the allocation source and
disperses the amount evenly across the destination distribution
lines.

FIGURE 1.13 LEDGER ALLOCATION RULE FORM, GENERAL TAB

6.

In the Data source field, select the source of the amount to allocate:
o Ledger
o Fixed value

7. If Fixed value is selected in the Data source field, enter a value in


the Fixed value field.
8. If Ledger is selected in the Data source field, select an arithmetic
operation to apply to the source value in the Mathematical
operation field.

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9. If Ledger is selected in the Data source field and either Multiply or
Divide is selected in the Mathematical operation field, enter the
Amount by which to multiply or divide the source value.
10. If Ledger is selected in the Data source field, select a date interval
to determine the account periods used for the allocation rule source.
If a date interval is not selected, all balanced for the chosen account
or account-dimension combination will be selected for source
allocation.
11. Select an allocation Journal name. The Description displays the
allocation journal description.
12. If the Spread even Allocation method is selected, select from the
Keep account from list to use the source account.
13. If the Spread even Allocation method is selected, select from the
Keep dimension form list to indicate if you want to use the source
destination account and dimension or a user-specified destination
account and dimension.

Procedure: Create a Ledger Allocation Rule - Source


Perform the following steps to complete the setup of settings for the allocation
rule source, also known as the allocation pool.
1. From the Ledger allocation rule form, select the Source button.
2. Click New to create a new record.
3. From the Field setting list select to allocate from an Account or
account Dimension combination.
4. If Financial dimension is selected in the Field setting field, select a
Financial dimension.

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5. In the Source criteria field enter the account or dimension
information from which to allocate. You can use wildcard characters
to specify accounts or dimension codes. For example, if the selected
Financial dimension is Department and the source criteria =
Admin,", the system displays information that includes the
department dimension equal to Admin or a department dimension
has not been specified.

FIGURE 1.14 LEDGER ALLOCATION RULE SOURCE FORM

Procedure: Create a Ledger Allocation Rule - Destination


Perform the following steps to complete the setup of allocation rule destination
settings, which define how the results of the allocation calculation must be
distributed to the destination distribution lines.
1. From the Ledger allocation rule form, select the Destination
button.
2. Click the New button to create a new record.
3. The Company field displays the company in which the allocation
rule was created. If the allocation rule is an inter-company rule, users
can change this field.
4. Select the account to allocate to in the To Account field.
5. Select the Dimension you want to allocate to.

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6. Select the Purpose dimension you want to allocate.
7. If the Allocation method is Basis, select the Basis ID with which to
associate the destination line.

FIGURE 1.15 LEDGER ALLOCATION RULE DESTINATION FORM

Procedure: Create a Ledger Allocation Rule - Offset


Perform the following steps to complete the setup of allocation rule Offset
settings. These define the offset entries that balance the destination distribution
lines.
1. From the Ledger allocation rule form, select the Offset tab.
2. In the Offset account from field, select where to find the offset
account.
o Source: The allocation process will use the respective account
defined in source.
o User specified: The allocation process will use the offset
account value specified.
3. If the Offset account from is set to User specified, select the Offset
account.
4. In the Offset dimension from field, select where to find the offset
account.
o Source: The allocation process will use the respective dimension
value that was defined in source.
o User specified: The allocation process will use the specified
offset dimension value.

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5. If the Offset dimension from field is set to User specified, select
the dimension to associate to the allocation rule.

FIGURE 1.16 LEDGER ALLOCATION RULE FORM, OFFSET TAB

Scenario
Phyllis runs the Allocation rules definition report that details the allocation rules
for the current year. The report contains details about each rule including the rule
ID, description, From/To account number and dimension combinations, effective
start and end dates, calculation method details, usage information, and other
setup information.

Procedure: Print the Ledger Allocation Rules Definition


Report
Perform the following steps to print the Allocation Rules Definition report:
1. To access the Allocation Rules Definition report, click General
Ledger, click Reports, click Base data, click Various, and then
click Allocation rules definition.
2. Select criteria such as Ledger allocation rule.

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3. Click OK to print.

FIGURE 1.17 ALLOCATION RULES DEFINITION REPORT

Scenario
Phyllis runs an allocation proposal without posting it to review the allocation
results and the detailed distributions that will be created based on the allocation
rule used. If the results are accurate, Phyllis posts the entry.

Procedure: Process a Ledger Allocation Request


As soon as an allocation rule is created, you can process it and either preview or
post an allocation journal. To set up an allocation journal, select General ledger,
click Setup, click Journals, and then click Journal names.
Perform the following steps to use the Process allocation request form to create
an allocation journal.
1. Click General ledger, click Periodic, and then click Process
allocation request.
2. Select an allocation rule.
3. Select the date to include ledger amounts for allocation in the As of
date field. This date corresponds with the Date interval on the
allocation rule.
4. Select the date to post the allocation journal to the general ledger in
the GL posting date field.
5. Select the action to occur if the allocation process generates a zero
source amount.
o Select Process to create destination distributions, where
applicable.
o Select Stop to create an error that indicates when a zero source
amount is selected and stops the allocation process.

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6. In the Proposal options field, select a posting preference.
o Select Proposal only to review allocation results without
posting.
o Select Post only to post the allocation results directly to the
general ledger.
7. Click OK.
NOTE: The Date last run field displays the last date a user processed an
allocation rule and created distribution lines.

FIGURE 1.18 PROCESS ALLOCATION REQUEST FORM

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Summary
The General ledger setup course describes the initial setup to start working with
Microsoft Dynamics AX financials. The course provides basic introductions to
set up:

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Currencies and exchange rates

Fiscal calendars

Financial dimensions and financial dimension sets

Period allocations

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Test Your Knowledge


Test your knowledge with the following questions.
1. What effect does the value in the General round-off field have on the values
in Microsoft Dynamics AX 2012?

2. When you change the display currency, it affects all users.


( ) True
( ) False
3. Is it possible to post activity that uses a date for which a period has not been
created?
( ) Yes
( ) No
4. What are reason codes?

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5. What are the parts of an allocation rule?
( ) General
( ) Source
( ) Destination
( ) Offset
6. Which allocation method defines how and in what proportion the source
amounts are distributed to the various destination lines, by referring to
balances in other account-dimensions?
( ) Basis
( ) Fixed percentage
( ) Fixed weight
( ) Spread even

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Chapter 1: General Ledger Setup

Quick Interaction: Lessons Learned


Take a moment and write down three key points you have learned from this
chapter
1.

2.

3.

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Solutions
1. What effect does the value in the General round-off field have on the values
in Microsoft Dynamics AX 2012?
MODEL ANSWER:
The value are used to round all amounts in all modules.
2. When you change the display currency, it affects all users.
( ) True
() False
3. Is it possible to post activity that uses a date for which a period has not been
created?
( ) Yes
() No
4. What are reason codes?
MODEL ANSWER:
Reason codes are standardized codes that can be used in various transaction
types or changes to field values to provide background data about the
transaction.
5. What are the parts of an allocation rule?
() General
() Source
() Destination
() Offset
6. Which allocation method defines how and in what proportion the source
amounts are distributed to the various destination lines, by referring to
balances in other account-dimensions?
() Basis
( ) Fixed percentage
( ) Fixed weight
( ) Spread even

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