AP Best Practices with Tips and Tricks Microsoft Dynamics AX 2012 Craig O’Connor – mcaConnect

Background Implemented every version of Axapta/Dynamics AX (1.5 - AX2012) Lead implementation projects in 6 different countries CFO of 2 different manufacturing companies Presenter at numerous AXUG events, including Summit as well as Microsoft Convergence Live in Hagerstown, Maryland

General Tips

Navigation and Data entry USE the Favorites! Create shortcuts and folders for easier navigation Understanding User options Keyboard is ALWAYS faster for data entry Work with IT group to Personalize Journal grids Date entry shortcuts Ctrl + G for searching and filtering Creating new records #AXUGChapterVA

Navigation and Data entry Journal setup can speed up transactional processing time Setup default accounts on Vendors where possible Consider setting up offset accounts in the Chart of Accounts #AXUGChapterVA

Understanding the Basics Accounts Payable Understanding the Basics

Critical setup Accounts Payable Posting Profiles Vendor Groups Default accounts AP Invoice Journal Accounts Payable Parameters #AXUGChapterVA

Transactional processing Accounts Payable Transactional processing

Non-inventory invoices Decide what invoice approval process is used within the organization Dynamics AX 2012 can accommodate the following processes: Invoice approved manually before the invoice is sent to AP for entry (Invoice Journal) Invoice is entered by AP, then forwarded off for approval (Invoice Register) With AX Workflow Without AX Workflow Utilize the Procurement Category functionality, if possible to minimize data entry #AXUGChapterVA

Invoice Matching options Invoice totals Price and Quantity Two-way matching Three-way matching Tolerances Percentage Monetary Charges Percentage tolerance only

Steps for processing with three-way matching Create Purchase order to vendor Process receipt of goods against the PO through Packing Slip posting When invoice is received, find PO in the Purchase orders received not invoiced form Select the Generate invoice button and enter in appropriate values from the invoice, including any Charges If changes are entered on any of the lines, the icon will show if there are discrepancies By selecting Review  Matching details, you can review and override tolerances #AXUGChapterVA

Other things to think about Accounts Payable Other things to think about

Month end A/P aging Review the Purchase Orders Received not Invoiced form Validate the Accrued Purchases Report (Procurement and Sourcing  Reports  Status  Accrued Purchases) Run reconciliation to GL report if you are seeing discrepancies, using the “Differences only” flag #AXUGChapterVA

Basic Workflow Don’t get too crazy with these! Can create more problems then they solve

One Final Tip

Check that you have created 2015 in the Fiscal Calendar