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Microsoft Dynamics AX 2012 R3 Financial Management

Microsoft Dynamics AX 2012 R3 Financial Management

By : Mohamed Aamer Ala El Din (USD)
2.7 (3)
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Microsoft Dynamics AX 2012 R3 Financial Management

Microsoft Dynamics AX 2012 R3 Financial Management

2.7 (3)
By: Mohamed Aamer Ala El Din (USD)

Overview of this book

This book is intended for application consultants, controllers, CFOs, and other professionals who are engaged in a Microsoft Dynamics AX implementation project. Basic knowledge of financial terms, concepts, and Microsoft Dynamics AX terminologies is required.
Table of Contents (11 chapters)
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Understanding shared financial data

Microsoft Dynamics AX 2012 R3 introduced a new concept called shared financial data, which reduces the effort and time of deployment in a multiple-company environment and operational maintenance as well. A group of companies can share the same chart of accounts, currencies, and dimensions; this decreases the operation time. For example, a new main account will be available to all companies. The following figure explains the concept of shared financial data in detail:

Understanding shared financial data

The financial data that will be shared between companies is as follows:

  • Chart of accounts: This contains the main account
  • Account structure: This contains the applicable dimensions of the main accounts
  • Fiscal year: This contains the start date and end date of the fiscal year and the period's management
  • Currencies: This represents the default currency and reporting currency
  • Exchange rate type: This sets the monthly exchange rate for foreign currencies and the default budget exchange rate

To...

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