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Introduction
A journal is a worksheet that you can use before you enter postings into the
system manually. Before you use financials in Microsoft Dynamics AX, review
the setup procedures for journals in this course. The procedures explain the basic
setup of journals such as journal names, controls, and texts. You can use journals
quickly and efficiently when you set them up correctly.
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Journal Setup
There are manually generated journals and system generated journals in
Microsoft Dynamics AX. Examples of system generated journals are allocation
journals and elimination journals. These journals are created automatically and
are never created manually. Manual journals entries are generated by postings
entered into the system such as a general journal entry. When you use a manual
journal entry the transactions are not posted immediately. Before you can post a
manual entry, they can be the following states:
Changed
Reviewed
Approved
Deleted
Review data imported from external ledger systems. You can ensure
that all valid fields contain a value and that all restrictions for the
transaction are fulfilled.
Make sure that the necessary voucher series is set up before you
create journals. You can set up number sequences and attach them to
the appropriate references.
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Daily
Periodic
Invoice register
Approval
Customer payment
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Specify how many journal lines are allowed in the Lines limit field.
If the number of journal lines exceeds the number specified in the
Lines limit field, the journal lines are distributed into several smaller
journals.
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Journal Controls
Set up journal control options to set up posting rules for the journal name.
Scenario
Contoso uses journal control to set up limitations to certain journals. For
example, the bank journal name is set up so that it is only possible for users to
make bank account postings, and the customer payment journal allows only
customer type postings.
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Journal Descriptions
Use journal texts to enter and reuse transaction texts when you record in journals.
Users frequently enter the same transaction text every time they post a certain
transaction. For example, users transfer from petty cash to bank or payment of
invoice number. You can save the transaction texts in a table with a search name
so that you can reuse the transaction text.
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Scenario
Phyllis, the Accounting Manager at Contoso, wants to track the current and
expected balance of liquidity accounts better. These include bank accounts and
petty cash accounts. After Phyllis has set up the balance control accounts, April,
the Accounts Payable Coordinator, verifies the expected balance of the bank
account to make sure the balance is sufficient to pay invoices. The expected
balance includes posted and unposted journals.
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Option
Value
Vendor Journal
Name of Journal
Day3
Description
Vendor Invoice
Journal Type
Daily
Voucher Series
Acco_18
Account Type
Ledger
Name of Journal
PerRent
Description
Rent Journal
Journal Type
Periodic
Voucher Series
Acco_23
Account Type
Ledger
Company Account
ceu
Rent Journal
Challenge Yourself!
Use the information in the table to set up the journals.
Step by Step
Perform the following steps to set up the Vendor Invoice journal.
1. Click General ledger, click Setup, click Journals, and then click
Journal names.
2. Click the New button to add a line.
3. In the Name field, enter Day3.
4. In the Description field, enter Vendor Invoice.
5. In Journal type, use the arrow to select Daily.
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From the Journal names form, click the New button to add a line.
In the Name field, enter PerRent.
In the Description field, enter Rent Journal.
In the Journal type field, use the arrow to select Periodic.
In the Voucher series field, use the arrow to select the first
Acco_23.
In the Account type field, verify Ledger is populated automatically.
Click the Journal control button.
Click the Add button in the Which account types can be posted?
In the Company accounts field, click the arrow to select CEU.
Close the Journal control form.
Close the Journal names form.
Perform the following steps to set up journal text for the Rent Journal.
1. Click General ledger, click Setup, click Journals, and then click
Journal description.
2. Press the New button to add a line.
3. In the Identification field, enter rent. Notice the Search name
defaults with the same value.
4. In the description field, enter rent.
5. Close the form.
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Summary
Journal setup completion allows users to create journal and journal lines and
record vendor and customer transactions.
It is also possible to set up journal validation and journal approvals for every
financial journal. With journal validation, you can lace restrictions on users,
accounts, and modules. For each journal type, approval procedures for
verification may be set up before any update.
User rights are also an important consideration. The level of detail stored in
individual records and fields may be modified. Defining access permissions
(read, edit, add, or delete) also allows for increased security for sensitive
information.
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2.
3.
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Solutions
Test Your Knowledge
1. What is the purpose of the Blocking function when setting up Journals?
MODEL ANSWER:
To restrict the usage of a journal
2. Which of the following types of journals may be set up in Microsoft
Dynamics AX? (Select all that apply)
() Daily
() Periodic
() Approval
( ) Annual
3. What is the purpose of using Balance Control Accounts?
MODEL ANSWER:
-To monitor the current and expected balance on an account as transactions
are entered in a journal.
4. Sequentially order the following steps for working with journals.
Step:
4
: Post transactions.
5. Which of the following would be used to monitor the current and expected
balance on an account as transactions are entered in a journal.
( ) Journal names
( ) Journal controls
() Balance control accounts
( ) General ledger parameters
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