Microsoft Dynamics 365 General Ledger-Record an Accounting Entry
Record an Accounting Entry: Accounting/Journal entries are used to settle transactions for different main accounts. To record an accounting entry, Go to>General Ledger>Journal Entries>General Journal Open the General Journal and create a new one. Select the newly created journal and open Lines as shown below….
Microsoft Dynamics 365 General Ledger-Working with Allocation Journal
Working with Allocation Journal: Allocation journal is mainly used to allocate cost or expenditures to different departments in a company. To use the allocation Journal there are 3 steps: – Create an Allocation Rule – Process Allocation request – Post Allocation Journal To create allocation…
Microsoft Dynamics 365 General Ledger-Working with Periodic Journal
Periodic journals help to settle periodic activity journal entries saved within a journal i.e. Payroll In order to create a periodic journal, Go to> General ledger>Journal Entries>General Journal>Create New Open General Journal and create a new journal from dropdown. After choosing a Journal click…
Microsoft Dynamics 365 Cash & Bank Management – Void Created Deposit Slips
Void Created Deposit Slips: Use the deposit slip form to view deposit slips for a bank account. You can open the voucher or the list of invoices and transactions linked to the deposit slip. In this form, you can also cancel a payment transaction on…
Microsoft Dynamics 365 General Ledger-Create a financial Dimension
Create a Financial Dimension: Financial dimensions are used to provide detailed information about the transactions in the general ledger. To create a Financial dimension, go to General ledger>Chart of Accounts>Dimensions>Financial Dimensions. Open the Financial Dimensions, click new to create a new one. User may create…
Microsoft Dynamics 365 General Ledger-Open a Fiscal Year
Open a Fiscal Year: A Fiscal year can be opened within a Fiscal period. To open a fiscal year, User will go to General ledger>Ledger Setup>Fiscal Calendars. After clicking Fiscal Calendar, a new form will be opened as shown below. User will choose a Fiscal…
Microsoft Dynamics 365 General Ledger-Create Main Account
Create a Main Account To create a Main Account, go to General Ledger > Chart of Accounts >Accounts > Main Accounts. Click New in action pane, a new main account opening form will be opened. Assign a Serial Number/Account Code in Main Account Field….
Microsoft Dynamics 365 Cash & Bank Management – Bank Account Reconciliation
Bank Account Reconciliation: When you receive a bank statement, you should periodically reconcile legal entity bank transactions with the transactions on the bank statement. You cannot reconcile a bank statement with a bank account if any of the checks or deposit slip payments that are…
Microsoft Dynamics 365 Cash & Bank Management – Create Deposit Slips
Create Deposit Slips: Deposit Slips view and maintain deposit slips for payments into your bank accounts. To create a Deposit Slip against a Payment receipt user will Go to>Accounts Receivable>Payments>Customer Payment Journal Create a New Payment Journal and open “Lines” Enter the Customer information, Amount…
Microsoft Dynamics 365 Cash & Bank Management – Reverse Check Payment
Reverse Check Payment: Navigate to Cash & Bank Management>Payment Reversals>Checks Open Checks form and choose a Check to void. Enter the reversal reason and Date, Enable the Reconcile button if user want to include reversal in Bank reconciliation. At the end Click Ok.
