UBAX10: How2 Session: Month End Closing in Microsoft Dynamics AX Richard Draper, Thomas Meede, Jennifer Salinas, Fred

1. UBAX10: How2 Session: Month End Closing in Microsoft Dynamics AX Richard Draper, Thomas Meede, Jennifer Salinas, Fred Schroeder

2. Presentation Overview • Month End processing – AX2009 steps and procedures • Year End processing - AX2009 steps and procedures • Typical issues and how to reduce processing times using standard AX2009 features

3. Month End Closing • There is no month end “button” • Applicable modules • General Ledger • Bank • Fixed Assets • TAX • Accounts Payable • Accounts Receivable • Inventory Management • Projects (invoicing &WIP posting) • Production (production costing ,WIP reps,++) • ….

4. Month End Closing • Mandatory • “STOP” month for all users except finance • G/L - Post all open journals (inc. sub-ledgers) • Fixed Asset – depreciations/acquisitions/disposals • A/R - Post pre-payments & accruals • Inventory - close & adjust • Run Reconciliation reports – General ledger to ALL modules • Reconcile between AP/AR GRNI (RBNI) and inventory module • Bank reconciliation & bank reconciliation report • A/R & A/P aging reports • Print trial balance • Print financial statements • “STOP” month for all users • Optional • Tax reports • EU Sales list & Intra-stat reports • Consolidations & Eliminations • Run Interest calculation • Produce collection notes • Update exchange rates • Update tax exchange rate (E. Europe only) -- G/L, A/R and A/P - Run exchange adjustments • A/P Accrued purchases • A/R Shipped not invoiced • Process Allocation rules

5. Year End Closing • Pre-requisites • Complete ALL month ends • Carry out year end activities • Fixed Asset depreciations • Tax reporting/payment • Run Inventory Close and Adjust to end of year • Run Year End • Backup data • Create new fiscal year • Create opening transactions for new year (move balances) • Produce subsidiary year end financial statements • Send statements to Auditor • Adjust ledger if required • Journals • Closing sheet • Set ALL periods to “Closed” • Optional • Rerun consolidations & Eliminations • Run 1099 reporting (US) • Reset number sequences if required

6. Year End Closing G/L Parameters G/L  Periodic  Fiscal Year End Close  Opening Transactions

7. Reduce Month End Processing Times Take time to review and implement STANDARD AX2009 features within: • Chart of accounts setup • Journal Names • Journal approval • Journal control • Journal posting restrictions • Dimension Set Rules • Allocation rules/Allocation Terms (COA) • Consolidations • Eliminations

8. Reduce Month End Processing Times • Chart of accounts setup • Locked in journal • Ledger account category • Ledger account dr/cr setup • Closed for posting • Offset account • Validation options • Mandatory Reference

9. Reduce Month End Processing Times • Journal Names including: • Journal Approval • Ready/Approved/Rejected • Journal Control • Posting Restrictions

10. Reduce Month End Processing Times Journal Control/Posting Restrictions

11. Reduce Month End Processing Times Also consider: • Dimension set rules • Allocation rules/terms • Consolidations • Elimination

12. UBAX10: How2 Session: Month End Closing in Microsoft Dynamics AX Richard Draper – AXMentor, Inc, RDR@AXmentor.com Thomas Meede – AXMentor, Inc, TME@AXmentor.com Jennifer Salinas – Driscoll’s, jennifer.salinas@driscolls.com Fred Schroeder – United Conveyor, FredSchroeder@unitedconveyor.com