Are confused by the differences in the GL and Perpetual Story? Whether a manufacturer or a distributor, have you been unable to sufficiently reconcile your inventory on a monthly basis? Do your financial auditors ask how DAX works and you have trouble describing the mechanics that make up your balances?
This full day course will focus on introducing and demonstrating the concepts of:
• Reviewing and understanding system parameters in modules that affect inventory valuation
• Using Model Groups to provide sound financial controls
• Gaining an understanding of all costing models (Weighted Average, FIFO, and LIFO, Standard Cost)
• Understanding how Item Groups best practices will associate to GL Postings
• Learning proper setup and use of production item costing in terms of cost sheet, cost groups and cost categories
• Gaining understanding of how use of more detailed ledger accounts and number sequences aid in reconciliations
• Hands on review of transactional process flows and the corresponding inventory cost postings
• Review of the effects on inventory costs for both FIFO/Average and Standard Cost
• Review and discussion of Inventory close and adjustment methods
• Setup of inventory valuation reports and WIP reports
• Production cost inquiry and explosions
• Review of balancing detailed ledger accounts to inventory report for reconciliation.
• To gain a solid understanding of inventory setup and costing valuation principles.
• To gain a solid understanding of transactional posting and recommended inventory reports to aid in reconciliation techniques in all DAX versions.
Audience: Financial Controller, Cost Accountant, Inventory Accountant, Business Analysts.
Level: Intermediate DAX experience; Intermediate to Advanced Financial Background
Basic knowledge of AX Trade & Logistics, Financials, and Inventory Management.
Knowledge of Inventory Management Setup; AP, AR and GL Setup; and Production Setup is Plus!
Training Materials: Will be supplied by the instructor as appropriate.
Delivery Method: Group Internet Based