General ledger roadmap [AX 2012]

Updated: September 8, 2014

Applies To: Microsoft Dynamics AX 2012 R3, Microsoft Dynamics AX 2012 R2, Microsoft Dynamics AX 2012 Feature Pack, Microsoft Dynamics AX 2012

This topic is a roadmap to additional information about General ledger in Microsoft Dynamics AX. It includes links to information about how to get started, configure, and use General ledger, and which modules integrate with General ledger.

General ledger provides an efficient way for organizations to manage their financial records. The general ledger is a register of debit and credit entries that are classified by using the accounts and financial dimensions that are listed in the chart of accounts.

General ledger offers flexible options for setting up and maintaining shared charts of accounts, currencies, exchange rates, and fiscal calendars. You can allocate costs and income by using the period-end allocation, elimination, and multicompany consolidation processes. You can quickly inquire and report on ledger transactions and account balances, and use financial dimensions to analyze your organization’s financial data from a variety of perspectives.

General ledger also covers fixed assets, cost accounting, cash flow forecasting, currency requirement projections, and country/region-specific capabilities. Other capabilities include audit workbench, budget control, compliance management, and shared services.

This topic includes links to important information about how to set up and use General ledger.

The section includes information about General ledger and how you can set up and use it in a Microsoft Dynamics AX 2012 implementation.

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Learn about General ledger

General ledger provides a way for organizations to define and manage their financial records.

We recommend that you become familiar with the concepts described in these links before you set up and use General ledger.

General ledger

Learn what’s new in General ledger

Review new and changed General ledger features since the release of AX 2012.

What's new: General ledger features

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This section provides information about how to set up General ledger.

This section provides information about what to consider before you set up General ledger.

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Plan and create organizations and organizational hierarchies

Plan and create organizations such as legal entities, operating units, and teams. The organizational hierarchies that you create represent the relationships between the organizations that make up your business. The organizational hierarchies affect the setup of the account structure in General ledger.

We recommend that you become familiar with the concepts and limitations of organizations and organizational hierarchies that are described in these links before you set up General ledger.

Organizations and organizational hierarchies

Plan the chart of accounts

Account structures in General ledger consist of main accounts and can include financial dimension segments. The account structures are used to define the valid combinations which, together with the main accounts, form a chart of accounts.

If two or more segments of an account structure are organization units, such as Business unit or Department, an organization hierarchy can be used to determine the valid combinations. The constraints would not have to be defined directly in the account structure.

Planning your chart of accounts in AX 2012

This section lists tasks you can complete to set up General ledger.

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Set up required General ledger information

Set up ledgers, enable interunit accounting, and create currency codes.

Set up a ledger

Enable interunit accounting

Create a currency code

Example: Balanced accounting entry for interunit accounting

Set up the chart of accounts

Create main accounts and financial dimensions, set up charts of accounts, set up ledger account aliases, set up main account categories, and create advanced account structures.

Setting up the chart of accounts

About the chart of accounts

About main account types

Create a main account

Create a financial dimension

Create consolidation groups and additional consolidation accounts

Set up a chart of accounts

About the Configure account structures form

Set up a ledger account alias

Set up main account categories

Main account categories and analysis cubes

Create advanced account structures and rules for a chart of accounts

Create advanced account structures and rules for budget planning

Link main accounts to main account categories

Create a financial dimension default template

Create a financial dimension set

Set up and maintain journals

Create ledger accrual transactions, post and print journals or journal lines, post multiple journals, set up financial journal approvals, delete posted ledger journals, set up General ledger workflows, set up posting restrictions, and approve journals.

Setting up and maintaining journals

Set up posting

Set up posting definitions, create accrual schemes, and create and validate journals and journal lines.

About posting definitions

Examples: Posting definitions

Set up posting definitions

Set up default descriptions for automatic posting

Assign posting definitions to transaction posting types

Create accrual schemes

Create and validate journals and journal lines

Set up sales tax codes

Set up sales tax codes that contain basic information about the tax amounts you collect and pay to the tax authorities.

When you set up sales tax codes, you define the amounts or percentages that must be collected. You also define the various methods by which those amounts or percentages are applied to transaction amounts.

About the Marginal base field

About the sales tax calculation methods in the Origin field

About the Whole amount and Interval options for sales tax codes

Set up and use sales tax codes

Create various kinds of sales tax codes

Set up a sales tax on a sales tax

Setting up sales tax codes

Set up sales tax

Set up the sales tax functionality, such as sales tax, sales tax on sales tax, packing duties, and purchase duties.

Set up sales tax on prepayments

Set up a sales tax settlement period

Set up conditional sales taxes

About including sales tax in journal amounts

Revise the sales tax amount on a transaction before posting

Assign a tax exempt number to a customer

Set up a tax registration type

Set up sales tax groups and item sales tax groups

Set up groups of sales tax codes that are attached to customers, vendors, and ledger accounts for transactions that are not posted to a particular vendor account or customer account.

Set up and use a sales tax group

Set up a default tax profile for a customer or vendor

Create item sales tax groups

Set up a default item sales tax group for a main account

Set up ledger posting groups for sales tax

Set up sales tax authorities

Set up the sales tax authorities who require that you collect sales tax on their behalf and pay those taxes regularly.

Set up sales tax authorities

Set up a sales tax authority as a vendor

Example: Rounding payments made to sales tax authorities

View or print sales tax payments without posting

Set up U.S. sales tax

Set up sales tax jurisdictions and other sales tax and use rules that are specific to the United States.

Set up sales tax for the United States

Set up sales tax jurisdictions

Set up sales tax groups for jurisdictions

(USA) Applying U.S. sales tax and use tax rules

Set up withholding tax

Set up withholding tax that customers have to pay vendors in many countries/regions.

Set up withholding tax in System administration and General ledger

Calculate and post withholding tax

Set up traditional financial statements

Set up row definitions and column definitions that are used to generate, print, and export traditional financial statements.

Setting up traditional financial statements

Set up financial reports by using Management Reporter for Microsoft Dynamics ERP

Create, maintain, deploy, and view financial reports by using Management Reporter for Microsoft Dynamics ERP (recommended) instead of using the traditional financial statements in Microsoft Dynamics AX.

Management Reporter for Microsoft Dynamics ERP lets you design financial reports based on ledger accounts and financial dimensions, drill down to transaction-level detail, and use web-based report viewing.

Management Reporter for Microsoft Dynamics ERP

Set up financial reason codes

Set up financial reason codes that are used to record changes, such as write-down adjustments or payment reversals.

About financial reason codes

Set up reason codes for financial modules

Maintain transactions in General ledger

Create reversing entries or place General ledger transactions on hold.

Create a reversing entry

Place a General ledger transaction on hold

Set up fiscal calendars, fiscal years, and periods

Set up fiscal calendars, fiscal years, and periods that can be shared by multiple legal entities.

About fiscal calendars, fiscal years, and periods

Key tasks: Fiscal calendars, fiscal years, and periods

Select a fiscal calendar for a ledger

Specify which users can post to a period

Set up information for letters of guarantee

Activate letters of guarantee, and set up payment purposes or reason codes that specify the objective of letter of guarantee transactions or agreements.

Activate the letter of guarantee

Set up letter of guarantee cancellation reasons and purpose code types

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This section provides information about how to work with General ledger.

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Process closing transactions

Set up allocation rules and journals that you can use to allocate transactions, view posted journal entries, adjust ledger exchange transactions, journalize ledger transactions, and settle transactions between ledger accounts.

Process closing transactions overview

Allocate transactions

Maintain ledger accounts

Close transactions

Allocate costs and income

Consolidate transactions, create cash flow forecasts and currency requirements forecasts, and eliminate transactions.

Allocate costs and income overview

Consolidate transactions

Forecast cash flow and currency requirements

Eliminate transactions

Financial consolidations and currency translation

Revalue currency amounts

Convert the accounting currency amounts to another currency on a specific date.

Revalue currency amounts overview

Close books

Complete closing procedures at the end of a month, period, or year. At the end of a period, you can close the period and prepare the accounting system for a new period.

Close books overview

Closing the month, period, and fiscal year

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This section includes information about how to create, maintain, deploy, and view reports for General ledger.

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Microsoft SQL Server Reporting Services reports

Several Reporting Services reports for General ledger are provided are available in the Report catalog.

General ledger reports

Financial reports

To create, maintain, deploy, and view financial reports, you can use Management Reporter for Microsoft Dynamics ERP (recommended), or you can use the traditional financial statements that are included with AX 2012.

Management Reporter for Microsoft Dynamics ERP

About traditional financial statements

General ledger cube and Microsoft SQL Server Analysis Services reports

The General ledger cube is used to report on ledger accounts and bank accounts. Online analytical processing (OLAP) functionality is provided through the use of cubes.

These cubes, built on the Analysis Services platform, help you analyze large amounts of data and identify trends that you might not otherwise discover when you’re viewing data on traditional reports.

General ledger cube (LedgerCube) for Microsoft Dynamics AX 2012 R2 and R3

Analytics in Microsoft Dynamics AX

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Here are some related search results on WebSearchAX that might help. You can search for other information by entering words or phrases in the Search for Help text box on the WebSearchAX site.

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Announcements: To see known issues and recent fixes, use Issue search in Microsoft Dynamics Lifecycle Services (LCS).

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