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• Create checks.
• Delete checks.
• Create a bank deposit entry.
• Void checks.
• Create a refund that prints a check.
• Use bank remittances.
• Reverse a posted check payment.
• Reconcile bank statements.
Introduction
Within the Cash and Bank Management module, users manage the financial
transactions between the company and its bank accounts. These transactions
include the following:
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Financials I in Microsoft Dynamics® AX 2012
Scenario
At Contoso Annie is the Bookkeeper that manages the creation, deletion, and
voiding of checks and electronic payments. Annie creates check refunds for
customers when required and processes payments to vendors. Also, when
Contoso receives a bank statement, Annie reconciles the statement with the
transactions in the application.
Create Checks
In Microsoft Dynamics AX, the Check form provides access to view existing
check transactions and to create new checks.
1. Click Cash and bank management, click Common, and then click
Bank accounts.
2. Double-click on the Bank account from which the checks will be
written.
3. On the Action Pane, click the Setup tab.
4. Click the Check numbers button. This option is only available if
the Check number method is set to Fixed in the Check layout
form. If the method is set to Free, the check numbers option is not
available. To verify, click the Check button on the Action Pane.
5. In the Creation of check form, the selected bank account is
displayed in the Bank account field.
6. In the From field, enter the check number for the first check to be
created.
7. In the Quantity field, enter the number of checks to be created.
8. Click OK.
EXAMPLE: To create a total number of 1250 checks starting with check number
2000, in the From field, type 2000, and in the Quantity field, type 1250. This will
create checks numbered 2000 to 3249.
NOTE: As soon as created checks are available, checks generate through the
Accounts Payable payment journal. See the Accounts Payable help for more
information on this process.
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Chapter 8: Cash And Bank Management Daily Procedures
Delete a Check
After users create a check in Microsoft Dynamics AX, they can delete the check
if it has not been used. Checks created but not used have the status of Created in
the Status field.
1. Click Cash and bank management, click Common, and then click
Checks.
2. Select the bank account from which to delete a check.
3. Click the Delete checks button.
4. In the From field, enter the number of the first check to delete.
5. In the To field, enter the number of the last check to delete.
6. To verify the deletion, type Delete in the Type Delete if you want to
delete field, and then click OK.
NOTE: If you include checks that have a status other than Created in the interval
between the From and To fields, no checks are deleted and the Delete checks job
is canceled.
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Financials I in Microsoft Dynamics® AX 2012
Annie, the Bookkeeper at Contoso, must complete a check run that consists of 15
checks, starting with check number 101. The checks are from the EUR OPER
bank account.
After Annie created the checks, she learned that only 12 of the checks were
needed. The last 3 checks must be deleted.
Challenge Yourself!
Help Annie to create checks, and then delete the unnecessary checks.
Step by Step
Create 15 checks for the EUR OPER bank account, starting with check number
101.
1. Click Cash and bank management, click Common, and then click
Bank accounts.
2. Double-click on the EUR OPER Bank account.
3. On the Action Pane, click the Setup tab.
4. Click the Check numbers button.
5. In the From field, type 101.
6. In the Quantity field, type 15.
7. Click OK.
8. Click the Close button in the Infolog.
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Chapter 8: Cash And Bank Management Daily Procedures
1. Click Cash and bank management, click Common, and then click
Checks.
2. Click on the EUR OPER Bank account.
3. Click the Delete checks button.
4. In the From field, type 113.
5. In the To field, type 115.
6. Type Delete in the Type Delete if you want to delete field, and then
click OK.
7. Click the Close button in the Infolog.
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Deposit Slips
A deposit slip is a document used to deposit checks, credit card notes, and cash
into a bank account. Use the Deposit slip form to view and manage deposit slips
for payments into bank accounts.
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Chapter 8: Cash And Bank Management Daily Procedures
11. In the Currency field, enter the currency code of the bank account in
which to make the deposit.
12. Select the Method of payment and Payment specification.
13. In the Payment reference field, enter a reference for the payment if
applicable.
14. On the General, Payment, Payment Fee, and Bank tabs, enter any
applicable information.
15. Click the Post button, and then click Post.
16. Close the Infolog form.
17. Click Functions, and then click Deposit slip.
18. In the dialog box, enter the date in the Bank statement date field,
19. Click OK to view the deposit slip.
NOTE: The system may require a Reason code if the Require reasons for
deposit slip payment cancellations check box is selected on the General FastTab
of the Cash and bank parameters form.
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Financials I in Microsoft Dynamics® AX 2012
During review, you can either approve and post the journal, or reject the
cancellation. Perform the following steps to review cancellations.
1. Click Cash and bank management, click Journals, and then click
Deposit slip payment cancellations.
2. Select the cancellation journal to review and then click the Lines
button.
3. Review the cancellation and select one of the following approval
options:
o To approve and post the cancellation journal, click the Post
button, and then click Post or Post and transfer.
o To reject the cancellation, click the Delete button on the toolbar.
1. Click Cash and bank management, click Common, and then click
Deposit slips.
2. Select the line for the canceled deposit slip in the Deposit slip form,
and then click the General tab.
3. Verify that a check mark is in the Canceled field.
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Chapter 8: Cash And Bank Management Daily Procedures
Annie, the Bookkeeper for Contoso, must enter a deposit for Customer 2022 for
1000 USD. The deposit was made to the USA OPER bank account and the
payment reference is 1987.
Annie realizes that she entered the deposit slip in error. The payment reference
should be 1988.
Challenge Yourself!
Help Annie complete the following:
1. Select the Use a deposit slip check box in the Customer payment
journal.
2. Click the Cancel payment button from the Deposit slip form to
cancel the deposit slip.
Step by Step
Create a customer payment journal:
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1. Click Cash and bank management, click Common, and then click
Deposit slips.
2. Select the line for the canceled deposit slip in the Deposit slip form,
and then click the General tab.
3. Verify that a check mark is in the Pending Cancellation field.
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Chapter 8: Cash And Bank Management Daily Procedures
1. In the appropriate payment journal, select the lines ordered for the
printing of the checks.
For example, to void an unposted Accounts Payable payment
journal, click Accounts payable, click Journals, click Payments,
and then click Payment journal.
2. Click the Lines button and then click the Payment status button,
and then click Rejected. The application removes the check numbers
from the journal.
NOTE: This procedure can be used only if you have not posted the checks.
Refund Checks
Under certain circumstances, companies must generate payment refunds to their
customers or process refunds they received from their vendors. This usually
occurs when credit notes, overpayments, and bonuses are involved in third-party
transactions.
In Microsoft Dynamics AX users can create a check refund that prints out a
check. The refunding feature is implemented in payment journals for customers.
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Financials I in Microsoft Dynamics® AX 2012
NOTE: Before you create a check refund, set up a Method of payment to refund
a check to a customer if you have not done this already. For more information
about Methods of payment, review the Accounts Receivable Setup and Accounts
Payable Setup courses.
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Chapter 8: Cash And Bank Management Daily Procedures
Challenge Yourself!
Help Annie create a refund check to pay Triangle Headquarters the overpayment
amount of 396 USD.
Step by Step
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Bank Remittance
Use the Remittance form to view the remittances made to company bank
accounts.
NOTE: For each step, you can define the minimum amount of information that
the user must enter before he or she can continue to the next step. To ensure that
the bank advice is printed before posting, set a post validation for print.
6. The File creation date field displays the date that the file was
created.
NOTE: For each step, you can define the minimum amount of information that
must be filled in before continuing to the next step. To ensure that the file is
created before posting, set a post validation for file creation date.
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Chapter 8: Cash And Bank Management Daily Procedures
10. In the Remittance format field, select the remittance format for the
payment.
11. Click the Posting button, and then click Post to post the remittance.
Payment Reversal
Occasionally, you must reverse a check after you have made a payment and
posted the check. For example, the delivery company may have the check or a
member of the accounting staff may notice that an employee paid the check in
error. Microsoft Dynamics AX provides a function to reverse posted check
payments.
You might reverse a check to reissue a payment made to a vendor. You can
reverse only posted checks that have a status of Paid. Reversing differs from
deleting or voiding checks because you can delete only checks that have a status
of Created, and you can void only unposted checks.
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1. Click Cash and bank management, click Common, and then click
Checks.
2. Select the check to reverse.
3. Click Payment reversal.
4. Enter the date and select a reason for the reversal. If your
organization uses the Check reversals journal for review, you must
also select a journal name.
5. Click OK to post the reversal or send the reversal for review,
depending on which method your organization uses.
4. Close the form and then click the Delete button again to delete the
journal header.
5. Close the form.
NOTE: Deleting the journal removes the reversal from the system, but the
original check remains in the Check form. The status of the check is no longer
Pending cancellation.
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Chapter 8: Cash And Bank Management Daily Procedures
Reconcile Overview
It is not possible to reconcile a bank account statement with a bank account if any
of the checks or deposit slip payments that are listed on the statement currently
have a status of Pending cancellation.
1. Click Cash and bank management, click Common, and then click
Bank accounts.
2. Select the bank account for which to reconcile the bank account
statement.
3. Click the Account reconciliation button on the Action Pane and
enter information as appropriate.
4. In the Bank statement date field, enter the date from the bank
account statement.
5. In the Bank statement field, enter the number of the bank account
statement.
6. In the Currency field, verify that the application inserts the correct
currency for the selected bank account.
7. In the Ending Balance field, enter the total ending balance on the
bank account statement.
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NOTE: The Reconciled field displays the date of account reconciliation. The
system enters the date automatically when you post the transaction lines that
reconcile company bank records with the bank statement.
NOTE: You cannot change the amount of the transaction during reconciliation.
To edit the amount of a transaction during reconciliation, enter the corrected
amount in the Correction Amount field. Ensure that you enter the correction in
the currency used for the account.
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Chapter 8: Cash And Bank Management Daily Procedures
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2. Click the Print button, and then click Bank reconciliation to print a
report that takes non-reconciled transactions into account and shows
transactions after the reconciliation date.
Summary
This course covers the main procedures in the Cash and Bank Management
module in Microsoft Dynamics AX. The application provides functionality to
manage check payments, as well as procedures for resolving special situations
with checks. Users can delete, refund, and void checks, in addition to generating
and issuing checks according to company specifications. In addition, because the
system records all financial transactions, companies can use the bank
reconciliation function to match internal company records of transactions against
bank statements.
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Chapter 8: Cash And Bank Management Daily Procedures
Step:
_____: Modify the method of payment to Check Refund on the negative payment
journal line.
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5. When you perform bank reconciliation, how do you exclude transactions that
are in the application but not on the bank statement from the reconciliation?
( ) Open the transaction
( ) Delete the transaction
( ) Select the Cleared check box
( ) Do not select the Cleared check box
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Chapter 8: Cash And Bank Management Daily Procedures
1.
2.
3.
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Solutions
Test Your Knowledge
1. Annie, the Bookkeeper at Contoso, must create checks numbered 2361
through 2366. What values must she enter in the From and Quantity fields to
do this?
( ) Enter 2361 in the From field and 5 in the Quantity field
( ) Enter 2366 in the From field and 5 in the Quantity field
(•) Enter 2361 in the From field and 6 in the Quantity field
( ) Enter 2366 in the From field and 6 in the Quantity field
MODEL ANSWER:
On the Deposit slip form, on the General tab, the Canceled check box is
selected.
Step:
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Chapter 8: Cash And Bank Management Daily Procedures
5. When you perform bank reconciliation, how do you exclude transactions that
are in the application but not on the bank statement from the reconciliation?
( ) Open the transaction
( ) Delete the transaction
( ) Select the Cleared check box
(•) Do not select the Cleared check box
MODEL ANSWER:
Checks that are created but not used have the status of Created in the Status
field. Checks with a Created Status can be deleted.
After printing or trying to print checks, but before posting, checks may be
voided. This may happen if checks are damaged in printing.
If payment has been made and a check has been posted, you can reverse it.
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