Chart of Account & Main Account in Axapta R3

                          Create Chart of Account in Axapta

In an organisation COA is first and most important things.To find out the Actual financial Statement we create Set of Account (COA). At the time of creation of COA we consider all the possibility and different subdiaries companies Account. 

We can use same COA in Different Company or use different COA in the Different Compnay.In the COA we mention all the main account.



Create the chart of accounts in the Chart of accounts form. Use the Main accounts - chart of accounts: %1 form to set up main accounts in each category, and include gaps between the accounts so that you can insert new main accounts, as needed. Main accounts in the same category have similar account numbers, and often have header and total lines that allow for easier identification and aggregation of the account category.

Same Main Account we can use for the Management Reporter

For Create COA , Please following Step.

Go to General Ledger--> Setup-->Chart of Account-->Chart of Account

Enter the Code of COA

Enter the Description of COA

Click on New

Enter the Detail of Main Account

Detail of Main Account Form

Save and close the Form.

After the link of COA we go to link the Legal Entity and COA

We go to General Ledger --> Setup-->Ledger

Thanks

Kamal Kumar

Ph- +91-9996480619

Email-kamalkumarax@gmail.com

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Vendor Customer Relationship in AX 2012

Create a Vendor /customer in Axapta 2012 and the relationship of vendor and customer.
Today we will have a discussion on how to create vendors and customers in AX2012. In some organizations, we purchase some material from our vendors and the same vendor is treated as a customer. AX provides a relationship between the Vendor and the Customer. For the creation of vendor/customer, follow this step. We create a Heaven Enterprise party and create customer vendor relationship.
Home->Common->Global address book
On the left hand, side there is there an option for party, customer, and vendor. If you want to create a vendor, click on vendor or if you want to create Customer click on customer.

We are clicking the Party and entering the details of Heaven Enterprise their address and other misc. details.

Click on the customer in the active pane. After that this party will be treated as our customer and the system will allocate a customer no.

In above system allocation the customer no is –US_SI_0138. You can enter misc details of customer like the terms of payment, method of payment, credit and collection and close it.

After that click on vendor and you follow the same process, enter the misc. details, and close it.
On the right side, there is role detail box, which shows the party details with the vendor and customer no.
We follow this process in AX to create a vendor and customer. When you enter the voucher it also shows the customer/vendor relationship balance like the picture below.
In the customer balance:

In the vendor balance:


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How to create a Workflow in Axapta 2012

In Axapta 2012, different modules have their own workflows. We can set up a workflow as per our requirements and with a given particular condition assignment. We will give a workflow condition on different entry forms.
For example, we can create a simple workflow in the general ledger entry form with the condition that if the journal amount is greater than 50000 INR, they require the approval otherwise no approval is required.
To create this workflow follow this step.
General ledger—>Setup—>General ledger workflows

Click on New button and select the ledger daily journal workflow and click create workflow.

Select the conditional decision, drag it between start and end. Again select the approved daily journal and drag it the left of the conditional decision.

Select the end of the start and drag it to the conditional decision. When the conditional decision is true, we move to the left side. The journal goes to approve the daily journal and then drag it to the end. When the conditional decision is false, we move to the end. Therefore, we drag the left side to the end.

After that, double click on conditional decision and the given condition there. In the given case we are given a condition that if the journal total debit amount is greater than 50000 it requires the approval.

After given the condition close it. Then select the approve journal line and open it.

Click on assignment and mention the approval user name on there.

Then save and close it. At the time of closing they require a version no. It requires a small change, a new version number that has to be activated.
Once it is activated, it is given a unique workflow ID that we assign to our Journal name.
Go to General ledger->setup->Journal Name open journal name and assign the workflow ID there.

Create a new journal Line and when you select- submit the journal name-, a yellow line will appear in the journal name.

Create a new voucher on that journal no. You see that the post button is disabled and approval is disabled because as per our condition, voucher goes to Chandan for approval.


After doing voucher entry close it and click on submit button and given comment.

You also see the action and history of this voucher. After submission it is converted into action button. Click on that and view history.

This process is the most helpful for creation of any workflow in Axapta2012.
From
Kamal Kumar
Email -kamalkumarax@gmail.com
Ph.8976898100

CONCEPT OF ACCRUAL SCHEME IN AX 2012

CONCEPT OF ACCRUAL SCHEME IN AX 2012

Accrual Scheme : Financial statements are prepared under the Accruals Concept of accounting which requires that income and expense must be recognized in the accounting periods to which they relate rather than on cash basis .. For a better understanding, we take the example of insurance expenses. We have paid 18000 USD in 01-Aug-2014 for the one-year expense. Our fiscal year is Jan to Dec 2014 so we are only booking 7500 USD in this year and 10500 USD is booked in the next fiscal year.

For the accrual scheme, follow this step.

General Ledger->Setup->Posting->Accrual Scheme

Click on New and add a new accrual scheme

Create a new journal for insurance expenses paid of 18000 USD.

Go to Function tab select the ledger accruals and a new window opens; select the insurance accrual scheme from there.

To see further details click on the transactions.

You see that insurance accrual scheme divides the total amount in 12 months and creates 12 entries per month as per our requirements and releases per month entry of 1500 to the expense account.

Close it, select on ok and post it

To check the effect of the entry, open the account statement of 132100 for fiscal year 2014

It shows 10500 amounts that is our prepaid expense. To check the insurance expenses open the insurance expense account.

It shows 7500 USD as per our requirement and the insurance accrual scheme works as per our requirement. We are also changing it day wise.



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Utilization of Ledger Allocation Rule in AX 2012

Utilization of Ledger Allocation Rule in AX 2012

AX 2012 provides a default ledger allocation on particular expenses. If you pay any expenses on bases of different departments, dimensions and legal entity, Ax provides a solution that is automatically fixed as per our ledger allocation rule.
For the Ledger allocation rule, follow this step
General Ledger-> Setup->Posting>Ledger Allocation rule

Create New Ledger allocation rule. For example, I am creating a new rule for rent

Go to general tab fill the journal name and allocation method

After that click on source and mention the rent Ledger main account no.

After that click on destination and mention the allocation classification.

Save and close it



Go to General Ledger->Periodic-> Process allocation request

 Click on ok and go to general ledger>Journal->Allocation open last entry and view the Detail

Create Dimension in Ax 2012
What is Dimension: Dimension mainly use for the classification of our expenses. If we need classification our expense in different location wise, department wise, Emp. wise. We are creating Dimension for that classification and when we enter the data use the dimension in which expense is doing. In ax 2009 is provide only three Dimension but in ax 2012 provide multiple dimension as per your requirement.
Use of Dimension:
1. Use Dimension in Budget and Expense Control
2. Control our expense
3. Tracing the expense
4. Interlink different module value to the general ledger

Process of Create Dimension:
Open Ax-General Ledger---Setup--->Financial Dimension

Click on new Button after that new form open. First is form use value form. There are two options to create dimension.

 first one is <Custom dimension> if we do not want create new dimension and do not pick value from any module and want to create new Unique Value select first option.

Click on Custom dimension button. Given Dimension name Brunch and report column name brunch after that click on Ctrl+S. After that click financial dimension Values. Click on new button.

Given the value of Dimension Value and Descriptions. And other detail like the level of dimension value to display, active from active to after that save it to Ctrl + S and close it
Click the form button to Create a new and delete dimension value

There is second option is pick value from different module, we are used their modules value like Emp. In above screen we are used department, fund source

You select any one from list.  For Example we are selecting our Bank account after select this screen dimension name automatic display Bank Account. You had given Report Column name
Bank.

After that Click on Financial Dimension value, you see all the lists of your Bank account. Enter double click of anyone and you can edit the detail.

That is the process of creating Dimension if you have any problems contact us.