Thursday, April 12, 2018

 Today I'm going to continue discussing Microsoft Dynamics AX.  SAP, ERP and CRM solutions are a world of their own. We have not looked at these in detail earlier so we start with Dynamics. The user interface for Dynamics provides a variety of tools for viewing and analyzing business data. Data is usually presented in Reports. Reports can be standard-reports, Auto reports or ad hoc reports. Tasks might take longer to execute. Sometimes its best to let it run elsewhere and at some other time where they can be prioritized, queued and executed. Documents may be attached to data. This is helpful in cases where we need to add notes and attachments to the data.  The enterprise portal enables web based access to the dynamics instance on a server installed in the enterprise network. Access is role based such as employees, Sales representatives, consultants, vendors, customers etc. This completes a brief overview of the user interface.
The General Ledger is probably the core financial section of the user interface. It is used to record fiscal activities for accounts for a certain period. For example, it has accounts receivable and accounts payable sections.  The entries in the ledger may have several parameters, defaults, sequences, dimensions, dimension sets and hierarchies. In addition, tax information and currencies are also included.
Cost accounting is another key functionality within Dynamics AX.The cost of overheads and the indirect costs to the entities can be setup as cost categories and they can be defined for use within cost accounting. These cost categories can have a link to the ledger accounts. This way ledger transactions show up under the appropriate category. Costs can even be redistributed among other categories and dimensions so that the cost structure of the business can be analyzed. The dimensions of a cost usually include the cost center and the purpose.
Dynamics AX also has a bank section. We can create and manage company bank accounts and associate activities and artifacts such as deposit slips, checks, bills of exchange and promissory notes. We can create bank groups, bank transaction types and the bank accounts that the company has in each bank group and check the layouts for the bank accounts. Standard query operations may then be applied to the bank data. Reconciling, generating summaries and printing statements are also made possible. We can make a payment by check, setup a method of payment for checks, delete checks, create a deposit slip, unposted checks, a check on a ledger account or to reconcile bank accounts.
As we see the financial sections within Dynamics AX, we note that it is dedicated towards what helps the business process. This is what differentiates this product from other related products. Dynamics is all about convenience.
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