Configure and use accounts payable, receivable, and collections in Finance and Operations

Configure and use accounts payable, receivable, and collections in Finance and Operations

Overview

Duration: 1 Day

Organizationsuse Dynamics 365 for Finance and Operations to elevate their financialperformance by increasing profitability, optimizing workforce productivity,reducing operational expenses, adapting quickly to requirement changes, andstreamlining asset management. 

Thiscourse discusses how to configure and use accounts payable, receivable, andcollections in Dynamics 365 for Finance and Operations. 

Objectives

In this course, you will learn how to:
  • Configure accounts payable components.
  • Create and maintain a vendor.
  • Configure vendor payments.
  • Set up vendor posting profiles.
  • Configure accounts payable charges.
  • How you can use invoice matching, vendor invoice policies, and workflow to automate the review process so that invoices that meet certain criteria are automatically approved and the remaining invoices are flagged for review by an authorized user.
  • Settle transactions and undo settlements.
  • Distribute funds by using accounting distributions.
  • Configure invoice validation policies.
  • Configure Accounts receivable components
  • Create and maintain a customer
  • Configure customer payments.
  • Set up customer posting profiles
  • Configure accounts receivable charges
  • Distribute funds by using Accounting distributions
  • Create free text invoices, and record customer payments
  • Configure Recurring invoices
  • Use reversals in Accounts receivable
  • Process orders, record invoices, and process payments
  • Configure credit and collections components.
  • Configure aging reports, customer pools, collection agents, and aging period definitions.
  • Set up and manage interests.
  • Set up and manage collection letters.
  • Customer Statements
  • How to process collection
Course OutlineModule 1: Configure Accounts PayableDynamics 365 for Finance and Operations offers extensive functionality for setting up different vendor payment options.Lessons
  • Understand Task recorder functionality
  • Configure accounts payable parameters
  • Create and maintain vendors
  • Configure accounts payable charges
  • Configure and use positive pay
  • Practice Lab
  • Module Summary
Module 2: Perform Accounts Payable Daily ProceduresPurchasing goods for resale or as materials for manufacturing or services is a large responsibility. Tracking those purchases and paying the vendors that supply the goods is just as challenging.Organizations must monitor accounts payable closely and implement procedures so management can easily obtain the financial information that they need to have to stay informed about changes in the costs of goods. To give an accurate view of the financial condition of the business, all expenses that affect net profit are included in accounts payable.This module explains how to manage and apply prepayments, record invoices, and process payments.Lessons
  • Introduction
  • Process orders, invoices, and payments
  • Manage and apply prepayments
  • Practice Labs
  • Module summary
In this module, you learned that you can enter vendor invoices manually or receive them electronically through a data entity. After the invoices are entered or received, you can review and approve the invoices by using an Invoice approval journal or the Vendor invoice page.

You also learned how to handle prepayments to your vendors.
Module 3: Use Accounting Distribution and Invoice ValidationsThis module explains how to settle transactions and undo settlement and distribute funds by using accounting distributions. You will also learn how to perform invoice matching.Accounting distributions are used to define how an amount will be accounted for, such as how the expense, tax, or charges will be accounted for on a vendor invoice. Every amount that must be accounted for when the vendor invoice is journalized will have one or more accounting distributions.Lessons
  • Introduction
  • Settle transaction and undo settlements
  • Distribute funds
  • Configure invoice validation policies
  • Practice labs
  • Module summary
Module 4: Configure Accounts ReceivableYou need to configure the Accounts receivable module to be able to create customer invoices, posting packing slips and use free text invoices that are not related to sales orders and finally receive payments by using several different payment types such as cash, checks, credit cards, and electronic payments from your customers.This module provides information about the configuration of essential components of the Accounts receivable module and the customer setup for efficient management of customers and customer transactions in Finance and Operations.Lessons
  • Configure accounts receivable
  • Create and maintain customers
  • Setup customer posting profiles
  • Configure accounts receivable charges
  • Practice Lab
  • Module summary
Module 5: Perform Accounts Receivable Daily ProceduresLearn how to create free text invoices, and receive payments from customers and deposit to the bank. You also learn how to refund a customer for the over payment amount or any other reasons like customer returns scenario which you need to refund the customer not only the payment but also the tax that has been collected, using reversals and use transaction reversals in Accounts receivable. You also learn how to distribute funds by using Accounting distributions in a free text invoice.Lessons
  • Create free text invoices and record customer payments
  • Settle transactions and undo settlement
  • Practice Lab
  • Module summary
Module 6: Configure Credit and CollectionsAlthough most customers pay their invoices on time, you need to be able to process invoices that are not paid by their due date.This topic explains how to manage delinquent customers by configuring the Credit and collections module in Dynamics 365 for Finance and Operations. To use the Credit and collections module, you should already have completed the configuration of accounts receivable.Lessons
  • Introduction
  • Configure credit and collections components
  • Setup and manage interest
  • Waive, reinstate or reverse
  • Setup and manage collection letters
  • Practice Lab
  • Module Summary
Module 7: Process Credit and CollectionsAlthough most customers pay their invoices on time, you must be able to process invoices that are not paid by their due date.This topic explains how to process Credit and collections.Lessons
  • Introduction
  • Understand how to process collections
  • Manage customer credit and collections
  • Practice Labs
  • Module Summary
Module 8: Course ConclusionFinal assessment and course summary, as well as a post-course survey for the course.Lessons
  • Final assessment
  • Course summary
  • Post-course survey
You will have completed the course.
Basic understanding of ERP, CRM concepts.
Course ID:
MB-310T02-A


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