AX2012 ENUS FINII 04

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Chapter 4: Cash Flow Management CHAPTER 4: CASH FLOW MANAGEMENT Objectives The objectives are: • Explain the relationship of cash flow to other modules • Set up cash flow forecasting • Define a cash flow forecast budget model • Create cash flow transactions • Calculate cash flow transactions • View online data and print cash flow reports Introduction Use Microsoft Dynamics AX® cash flow forecasting and currency requirement tools to estimate a company's future need for cash To have a reliable cash flow forecast, functionality is available to: • Identify and list all the liquidity accounts, that is the company's cash or cash-equivalent accounts • Identify and set up the forecasts of transactions that affect the company's liquidity accounts • Calculate, view, and print cash flow forecasts and calculate and display currency requirement • Control the level of cash flow forecast integration either by selecting a simple setup for cash flow forecasts or by setting up many parameters to enable forecasting in many areas The cash flow statement might be an accounting requirement in some countries and for specific "types" of companies, such as, publicly traded companies To build a cash flow statement, use the financial statement functionality For more information about cash flow statements, refer to the Financial Statements course in this collection Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement 4-1 Financials II in Microsoft Dynamics® AX 2012 Relationship of Cash Flow to Other Modules Cash flow projections are a function of expected cash receipts and disbursements • Future cash receipts occur because of Accounts Receivable, Sales orders not yet invoiced, sales budgets, and budgeted and posted ledger transactions • Future cash disbursements occur because of Accounts Payable, Purchase orders not yet invoiced, purchase budgets, and budgeted and posted ledger transactions Set Up Cash Flow Forecasting The ability to accurately forecast cash flow depends on projections of future cash receipts and disbursements In Microsoft Dynamics AX, you can set up various parameters to calculate the expected dates cash receipts and disbursements will occur These calculations are based on posted transactions in the company Many areas require setup for cash flow forecasting, including the following: • Liquidity Accounts • Accounts Payable Parameters • Accounts Receivable Parameters • Posting Profiles • Vendor and Customer Groups • Ledger or Budget Accounts • Dependent Ledger Accounts Procedure: Define Liquidity Accounts Follow these steps to define the liquidity accounts that capture cash receipts and cash disbursements Click General ledger, Setup, click Posting, and then click Liquidity Click the New button to create a line for a liquidity account 4-2 Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement Chapter 4: Cash Flow Management In the Main account field, click the arrow to select a ledger account that is one of the company's cash or cash-equivalent accounts In the Name field, the description of the selected ledger account will display FIGURE 4.1 LIQUIDITY FORM Procedure: Set Up Accounts Payable Parameters Use the Accounts payable parameters as default values on vendor records when you create transactions that affect cash flow Change these values as the actual transaction is recorded Follow these steps to define accounts payable parameters that are related to cash flow forecasting Click Accounts payable, Setup, and then click Accounts payable parameters Click Ledger and sales tax In the Cash flow forecast area, in the Period between delivery and invoicing field, use the arrow to select a value that represents the typical time that it takes vendors to send an invoice for goods or services received During cash flow forecasting, for any orders not yet invoiced, the expected invoice date calculates based on the receipt date of the purchase order plus the value in this field Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement 4-3 Financials II in Microsoft Dynamics® AX 2012 In the Invoicing period field, use the arrow to select the value to use in calculating the period between the future date of receipt of goods or services from vendors and the expected invoicing of the order In the Terms of payment field, use the arrow to select the most frequently used term of payment that exist for vendors You can use this value for cash flow calculations except when the terms of payment are specified on the purchase order, the vendor account, or the vendor group In the Settle Period field, use the arrow to select the value that represents the expected delay between the due date and the date of payment In the Settle account field, use the arrow to select the liquidity account that is used most frequently to make payments to vendors Use this account for settlement unless there is an applicable entry in the Accounts payable posting profile This field accesses the Chart of accounts table In the Allocation key field, use the arrow to select the value that reduces the effect of the budget in the cash-flow forecast as purchase orders are created Procedure: Set Up Accounts Receivable Parameters The setup in Accounts receivable parameters mirrors the setup in Accounts payable parameters You can use Accounts receivable parameters as default values on customer records when you create transactions that affect cash flow You can change these values as the actual transaction is recorded Follow these steps to define accounts receivable parameters that are related to cash flow forecasting Click Accounts receivable,Setup, and then click Accounts receivables, parameters Click Ledger and sales tax In the Cash flow forecast area, in the Period between delivery and invoicing field, use the arrow to select a value that represents the typical time it takes your company to send an invoice to customers after goods or services ship During cash flow forecasting, for sales orders not yet invoiced, the expected invoice date calculates based on the shipment date of the sales order plus the value in this field 4-4 Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement Chapter 4: Cash Flow Management In the Invoicing period field, use the arrow to select the value used in calculating the period between the future date that shipped goods or services are shipped to customers, and the expected invoicing of the order This value applies to budget lines, open sales orders, and free text invoices In the Terms of payment field, use the arrow to select the most frequently used term of payment that exists for your customers Use this value for cash flow calculations except when the terms of payment are specified on the sales order, the customer account, or the customer group In the Settle Period field, use the arrow to select the value that represents the predicted delay between the due date and the date of payment In the Settle account field, use the arrow to select the liquidity account used most frequently to deposit receipts from customers Use this account for settlement unless there is an applicable entry in the Accounts receivable posting profile This field accesses the Chart of accounts table In the Allocation key field, use the arrow to select the value that reduces the effect of the budget in the cash-flow forecast as sales orders are created Procedure: Set Up Posting Profiles You can select the settlement (liquidity) account for each posting profile in both Accounts Receivable and Accounts Payable Follow these steps to select the settlement account Click Accounts payable or Accounts receivable, Setup, and then select Vendor posting profiles or Customer posting profiles Click the line for the desired profile Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement 4-5 Financials II in Microsoft Dynamics® AX 2012 Click the Setup FastTab In the Settle account field, use the arrow to select an account from the Chart of Accounts for payments to vendors (Accounts Payable) or receipts from customers (Accounts Receivable) FIGURE 4.2 CUSTOMER POSTING PROFILE FORM Procedure: Set Up Vendor and Customer Groups Follow these steps to select the Terms of payment and the Settle period for each customer or vendor group Click Accounts payable or Accounts receivable, Setup, click Vendor or Customer, and then select Vendor groups or Customer groups In the Terms of payment field, use the arrow to select the appropriate code If the Terms of payment are specified on the sales order or purchase order or the customer or vendor, they have higher priority than the customer group or vendor group terms of payment In the Settle period, use the arrow to select the code that represents the predicted delay between the due date and the date of cash receipt or payment When an entry is made in this field, it overrides any entry made in the Accounts receivable or Accounts payable parameters for activity that is associated with the customer or vendor group Procedure: Set Up a Ledger Account The Cash flow forecast form is used to set up ledger accounts that are used in cash flow forecasts In the cash flow forecast, future ledger transactions are estimated based on information that is already posted, such as invoices that are not yet paid, expected sales tax payments, and budget transactions Click General ledger, Click Setup, click Chart of accounts, then select Chart of accounts Select the desired Chart of account from the left hand pane On the Main accounts tab, click New 4-6 Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement Chapter 4: Cash Flow Management Enter a Main account and Name Select Companies in the Select the level of main account to display field Click the Setup FastTab, and then click the Cash flow forecast button In the Percent field, enter 100.00 Leave the Terms of payment field blank Leave the Posting type field blank 10 In the Main account field, enter the number of the account selected 11 Close the Set up cash flow forecasts form FIGURE 4.3 SET UP CASH FLOW FORECASTS FORM Procedure: Set Up Dependent Ledger Accounts In General ledger, you can set up relationships between accounts so that the cash flow forecast for one account is based on the expected activity in another account An example is the calculation of sales tax payments based on the expected transaction amounts for customer accounts Follow these steps to set up dependent ledger accounts Click General ledger, click Setup, click Chart of accounts, then select Chart of accounts Select the desired Chart of account from the left hand pane On the Main accounts tab, click New Enter a Main account and Name Select Companies in the Select the level of main account to display field Click the Setup FastTab, and then click the Cash flow forecast button In the Percent field, enter the percentage to include in the cash flow forecast Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement 4-7 Financials II in Microsoft Dynamics® AX 2012 In the Terms of payment field, use the arrow to select the terms of payment to use in the cash flow forecast In the Posting type field, use the arrow to select the posting type that is related to the cash flow forecast 10 In the Main account field, click the arrow to select a ledger account, one of the company's cash or cash-equivalent accounts, to which the percentage should be recorded 11 Close the Set up cash flow forecasts form You can add more lines in this form if the account selected in the Chart of Accounts form affects the cash flow of multiple accounts 4-8 Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement Chapter 4: Cash Flow Management Lab 4.1 - Set Up a Ledger Account for Cash Flow Forecasting Scenario Phyllis, the Accounting Manager at Contoso, wants to use the cash flow forecast functionality in Microsoft Dynamics AX When she reviews the liquidity accounts in the Chart of Accounts, she notices that account 110180 is not set up for cash flow forecasting She wants to include the activity in account 110180 in cash flow forecasting Challenge Yourself! Help Phyllis change the setup to include the activity in account 110180 in cash flow forecasting Need a Little Help? • Open General ledger, click Chart of accounts, and then click Chart of Accounts • Use the Corporate Main Account (Shared) and use the Edit button to enter the appropriate information Step by Step Follow these steps to change the setup in cash flow forecasting Click General ledger, click Chart of accounts, and then click Chart of Accounts Click the Corporate Main Account (Shared) in the left hand pane as the Chart of accounts selection In the Main Accounts section, highlight account 110180 and then click the edit button Change the Select the level of main account to display field to Companies Expand the Setup FastTab, and then click the Cash flow forecast button In the Percent field, enter 100.00 In the Main account field, enter 110180 Close the Set up cash flow forecasts form Close the remaining open forms Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement 4-9 Financials II in Microsoft Dynamics® AX 2012 Lab 4.2 - Set Up a Dependent Ledger Account Scenario Phyllis, the Accounting Manager at Contoso, wants to use the cash flow forecast functionality in Microsoft Dynamics AX The bank pays 0.25 percent interest on the twentieth of each month to Contoso on the balance in account 110180 The balance in account 110180 is directly attributed to the activity in account 401120 Phyllis wants to recognize the expected interest in the cash flow forecast Challenge Yourself! Help Phyllis enter the correct setup information in the Chart of Accounts Need a Little Help? Set up account 110180, Petty Cash, as dependent on the expected activity to account 401120 using a rate of 0.25 percent Step by Step Follow these steps to setup an account to be dependent on the expected activity of another account Click General ledger, click Chart of accounts, and then click Chart of Accounts Click the Corporate Main Account (Shared) in the left hand pane as the Chart of accounts selection In the Main Accounts section, highlight account 401120 and then click the edit button Change the Select the level of main account to display field to Companies Expand the Setup FastTab, and then click the Cash flow forecast button In the Percent field, enter 25 In the Main account field, enter 110180 Close the Set up cash flow forecasts form Close the remaining open forms 4-10 Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement Chapter 4: Cash Flow Management Define a Cash Flow Forecast Budget Model In Microsoft Dynamics AX, you can link budget models to cash flow forecasts Once a budget is included in cash flow forecasts and budget entries are made to an account, view the budget entries in the cash flow form for the General ledger account Procedure: Define a Cash Flow Forecast Budget Model Follow these steps to link a budget model to cash flow forecasts Click Budgeting, Setup, and then click Budget models Select a line item Click the General FastTab In the Cash flow forecasts field, select the field Close the Budget model form FIGURE 4.4 BUDGET MODEL FORM, GENERAL TAB Create Cash Flow Transactions Entries made in Microsoft Dynamics AX are included in cash flow forecasts based on the system setup Sales orders, purchase orders, ledger entries, and budget entries are examples of activity that may be included in cash flow forecasts Entries in various fields including the terms of payment, settle date, and period between delivery and invoicing affect the date the activity displays in the cash flow forecast Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement 4-11 Financials II in Microsoft Dynamics® AX 2012 Create a Budget Entry Follow these steps to create a budget entry Click Budgeting, Common, and then click Budget register entries Click the New - Budget register entry button Select a Budget model and a Budget transaction code For example, to create an initial budget amount, select budget model A, and then select a transaction code of Original, which you previously defined by using a transaction type of Original budget Select a posting definition for the selected transaction type NOTE: The Posting definition field is displayed only when the Use posting definitions and Enable budget appropriation check boxes are selected in the General ledger parameters form Click the Add lines button in the Budget account entries section Enter the amount of the transaction Enter a positive amount unless the transaction is a transfer In the Budget account entry details section, select the Cash flow forecast field 4-12 Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement Chapter 4: Cash Flow Management Lab 4.3 - Create a Budget Entry to Include in Cash Flow Scenario Phyllis, the Accounting Manager at Contoso, wants to use the cash flow forecast functionality in Microsoft Dynamics AX She knows a deposit to account 110180 in the amount of $100,000 will be made on 06/20/2011 Phyllis must include that deposit in the cash flow forecast Challenge Yourself! Help Phyllis to create a budget entry using the provided information Need a Little Help? • Open the Budgeting module and go to the Budget register entries form • Create a new budget register entry • Add the appropriate line information to complete the budget account details Step by Step Follow these steps to create a budget entry Click Budgeting, click Common, and then click Budget register entries Click the New - Budget register entry button In the Budget Model field, click the arrow to select TOTAL In the Budget code field, select Budget Click the Add lines button in the Budget account entries section In the Date field, enter 06/20/2011 In the Account structure field, select Account structure In the Dimension values field enter 110180 In the Amount field, enter 100000.00 10 Expand the Budget account entry details FastTab section and select the Cash flow forecast check box 11 Close the form Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement 4-13 Financials II in Microsoft Dynamics® AX 2012 Calculate Cash Flow Transactions Setting up cash flow and recording transactions does not guarantee that cash flow forecasts will display throughout the system You must also calculate cash flow Procedure: Calculate Cash Flow Transactions Follow these steps to calculate cash flow transactions Click General ledger, Periodic, click Currency requirement, and then click Calculate cash flow forecasts In the Calculate cash flow forecasts? field, use the arrow to select from one of the following options: o Total - Clear all existing cash flow forecast transactions and recalculate o New - Create a new cash flow forecast, but not clear other cash flow forecasts Select this option to view consequences of modifying budgets Update batch processing options, if it is necessary, and then click OK to calculate the cash flow forecast Microsoft Dynamics AX displays an Infolog form when the calculation is completed Click Close in the Infolog form View Online Data and Print Cash Flow Reports You can view cash flow forecasts from several areas in the system The following table summarizes the areas where you can view the data Cash Flow Forecast Path and Form Sales Click Sales and marketing, Common, click Sales orders and select All sales orders • Select a sales order to view • Purchases Click Procurement and sourcing, Common, Purchase orders, and then select All purchase orders • Select a purchase order to view • 4-14 On the Action Pane, click the Invoice tab and then click Cash flow forecast On the Action Pane, click the Invoice tab and then click Cash flow forecasts Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement Chapter 4: Cash Flow Management Cash Flow Forecast Path and Form Main Accounts Click General ledger, Setup, click Chart of accounts, and then select Chart of accounts • Select a chart of accounts Inventory • Double-click a main account • In the Select the level of main account to display field, select Companies • In the Companies field, select the legal entity to view the cash flow forecast for • Click View cash flow forecast on the General FastTab Click Inventory and warehouse management, Inquiries, Forecast, and then click either Supply (or Demand) forecast • Select an item to view • Click the Inventory forecast button or click the Cash flow forecasts button You can print Cash flow reports when you view the data online To this, click File, and then click Print or Print preview from the menu bar Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement 4-15 Financials II in Microsoft Dynamics® AX 2012 Lab 4.4 - Calculate Cash Flow Transactions Scenario Phyllis, the Accounting Manager at Contoso, wants to determine whether the budget entry recorded is included in the cash flow forecast for account 110180 If the entry is excluded, Phyllis plans to run the calculate cash flow transactions function for the new entries Challenge Yourself! Help Phyllis complete the following: View the cash flow forecast for account 110180 and look for the budget entry on 6/20/2011 If the entry is excluded, run the calculate cash flow transactions function for the new entries NOTE: This lab assumes that labs 2.1 and 2.3 have already been completed Need a Little Help? NOTE: This lab assumes that labs 2.1 and 2.3 have already been completed Follow these steps to view the cash flow forecast for account 110180 and look for the budget entry on 6/20/2011 • Open the Main accounts form and edit the account 110180 • Select Legal entities in the Select the level of main account to display field and then view the cash flow forecasts Because the entry was excluded, follow these steps to run the calculate cash flow transactions function for the new entries Click General ledger, click Periodic, click Currency requirement, and then click Calculate cash flow forecasts Calculate the cash flow forecasts 4-16 Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement Chapter 4: Cash Flow Management Step by Step NOTE: This lab assumes that labs 2.1 and 2.3 have already been completed Follow these steps to view the cash flow forecast for account 110180 and look for the budget entry on 6/20/2011 Click General ledger, click Common, and then click Main accounts Double - click the line for account 110180 Select Companies in the Select the level of main account to display field Expand the General FastTab and click the View cash flow forecasts Review the activity to determine whether the budget entry for 06/20/2011 is included in the forecast Close the open forms Because the entry was excluded, follow these steps to run the calculate cash flow transactions function for the new entries Click General ledger, click Periodic, click Currency requirement, and then click Calculate cash flow forecasts In the Calculate cash flow forecasts? field, use the arrow to select New Click OK When the process is complete, an Infolog appears If Sales taxes have not been set up for the periods used in this lab you will receive stop errors and need to set up the appropriate periods for sales taxes before completing this process If this is the case click the Clear button Click Close in the Infolog form Review account 110180 by following the first steps of this lab Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement 4-17 Financials II in Microsoft Dynamics® AX 2012 Summary This section described the setup and online review of cash flow forecasts using Microsoft Dynamics AX The functionality discussed in this section can help users plan ahead to meet cash requirements for their company 4-18 Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement Chapter 4: Cash Flow Management Test Your Knowledge Test your knowledge with the following question What must occur to view budget entries in the cash flow form? ( ) Purchase Orders must be invoiced to budget accounts ( ) Budget entries are made to budget accounts ( ) Budgets are included in cash flow forecasts ( ) Sales Orders must be invoiced to budget accounts Explain the purpose of using the cash flow management functionality Name areas in Microsoft Dynamics AX where you can view cash flow forecasts Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement 4-19 Financials II in Microsoft Dynamics® AX 2012 Quick Interaction: Lessons Learned Take a moment and write down three key points you have learned from this chapter 4-20 Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement Chapter 4: Cash Flow Management Solutions Test Your Knowledge Explain the purpose of using the cash flow management functionality MODEL ANSWER: -To estimate a company's future need for cash What must occur to view budget entries in the cash flow form? ( ) Purchase Orders must be invoiced to budget accounts (√) Budget entries are made to budget accounts (√) Budgets are included in cash flow forecasts ( ) Sales Orders must be invoiced to budget accounts Name areas in Microsoft Dynamics AX where you can view cash flow forecasts MODEL ANSWER: Cash flow forecasts can be viewed online from sales orders, purchase orders, the chart of accounts, ledger budgets, and inventory Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement 4-21 Financials II in Microsoft Dynamics® AX 2012 4-22 Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement