Bank Reconciliation in Microsoft Dynamics GP

Course Description:

  The Bank Reconciliation in Microsoft Dynamics GP - 80575 course is a 1-day course that is designed for students who are interested in learning Microsoft Dynamics GP 2018. The course covers the new features in Dynamics GP 2018 and also the important capabilities of Dynamics GP in general.

Students will learn about the processes required to manage cash receipts, cash disbursements, and other transactions associated with checkbook balances. Students will also learn how to perform the checkbook reconciliation process in the Bank Reconciliation module, ensuring accuracy of your financial data and its relation to your financial institution statements.

Topics covered in the course include:

• Identify the impact of the Bank Reconciliation module on other modules.
• Customizing the setup of Bank Reconciliation to fit their business needs.
• Performing all Bank Reconciliation related data entry functions. This includes bank transactions, bank deposits, and bank transfers.
• Performing maintenance on Bank Reconciliation documents and records such as checkbooks.
• Printing standard reports for audit trail purposes, financial analysis, and to verify data entry.
• Performing the bank reconciliation process in Bank Reconciliation.

Target Student: This course is designed for students who want to learn the basic features and the typical day-to-day procedures required to effectively use Microsoft Dynamics GP Bank Reconciliation. Students will typically work in the one of the follwoing roles: data entry clerks, administrators, office managers, CEOs, and consultants that need understanding of the technical aspects of Bank Reconciliation and want to gain foundational knowledge of Dynamics GP functionality.

Students should be familiar with Microsfot Windows, general accounting principles, and have taken the Introduction to Microsoft Dynamics GP course or have equivalent experience in Dynamics GP.

Section 1: Overview and Setup Procedures
This section provides students a general overview of the features and benefits of using the Bank Reconciliation in an integrated environment. It also elaborates on the setup procedures for Bank Reconciliation, and the customization options available to reflect the way your organization does business. This section also discusses entering beginning balances for each checkbook in preparation for using Bank Reconciliation.
Topics :
•Features and Benefits
•Bank Reconciliation Setup
•Checkbook Maintenance
•Transfer Existing Checkbooks to Bank Reconciliation
Lab 1: Bank Reconciliation Setup
Lab 2: Checkbook Setup

Section 2: Daily Procedures
This section explains the ways that transactions can be entered and posted in Bank Reconciliation. It also discusses the different types of transactions, receipts, and deposits that may be entered in Bank Reconciliation. This section also covers how each type of transaction may update the cash account balance in the General Ledger, the checkbook balance in Bank Reconciliation, or both.
Topics :
•Bank Transaction Entry
•Entering Checks, Withdrawals and Adjustments
•Entering Receipt Transactions
•Miscellaneous Checks
•Bank Transfer Entry
•Deposits with Receipts
•Deposits without Receipts
•Clear Unused Receipts
Lab 1: Entering an Outstanding Check
Lab 2: Entering a Check Transaction
Lab 3: Entering a Cash Receipt
Lab 4: Printing a Check
Lab 5: Entering a Bank Transfer
Lab 6: Entering a Deposit with Receipts
Lab 7: Entering a Deposit without Receipts

Section 3: Reconcile Bank Statements
This section discusses the steps that are required to reconcile a checkbook to the bank statement using Bank Reconciliation. This section also covers the process to enter miscellaneous transactions and adjustments during the reconcile process. Additionally, the section covers the transaction posting that occurs during the reconcile process.
Topics :
•Reconciling Bank Statements
•Selecting Bank Transactions
•Entering Adjustments and Reconcile
Lab 1: Reconciling a Checkbook

Section 4: Maintaining Records
This section covers the functionality available to maintain Bank Reconciliation records. The processes to void transactions, transfers, and deposits are also covered. Additionally, the section covers: the procedure for changing and deleting records, how to remove historical information from Bank Reconciliation, and the effects of removing this type of history. The inquiry windows and some reports that can be generated from Bank Reconciliation are also covered.
Topics :
•Voiding Transactions
•Deleting Checkbooks
•Removing History
•Using Inquiries
•Report Options and Printing
•Report Groups
•Report List
Lab 1: Removing History

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