80534 Finance Essential in Microsoft Dynamics® NAV 2013

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This course provides material for:
Microsoft Exam code: MB7-701


Students will learn key financial functions of Microsoft Dynamics such as the Cash Management, the management of VAT, Journal development and transactions, the General Ledger, and Receivables and Payables Management.


After completing this course, students will be able to:
  • Explain and set up the fields on the General Ledger Setup window.
  • Create and post general journal entries.
  • Describe the Bank Account Card.
  • Explain the Payments FastTab on the customer and card.
  • Explain how to apply entries to customer and vendor ledger entries.
  • Review the Bank Account Reconciliation window and the options for populating the bank reconciliation lines.
  • Show how to process a bank reconciliation.
  • Set up Microsoft Dynamics NAV 2013 to use payment discounts.
  • Set up Microsoft Dynamics NAV 2013 to use reminders.
  • Explain how to create and issue reminders.
  • Set up Microsoft Dynamics NAV 2013 to use finance charge memos.
  • Close the accounting periods for the fiscal year.


This course is intended for a partner that sells and implements the finance module to customers. The typical partner has an ERP background and is strong in accounting principles.


Finance Management Setup

  • General Ledger Setup
  • Accounting Periods
  • Lab : Accounting Periods

Chart of Accounts

  • Chart of Accounts Overview
  • G/L Account Card
  • G/L Account Card Ribbon
  • Lab : Create a Revenue Account
  • Lab : Assign a Dimension to Multiple Accounts

General Journals

  • Creating and Posting Journal Entries
  • Standard Journals
  • Recurring Journals
  • Processing Recurring Journals
  • Lab : Create a Journal Entry
  • Lab : Create and Post a Recurring Journal

Cash Management – Receivables and Payables

  • Bank Account Overview
  • Customer Overview
  • Vendor Overview
  • Cash Receipt Journal and Payment Journal Overview
  • Suggest Vendor Payments
  • Print and Post Payables Checks
  • Voiding Checks
  • Applying Payments
  • Unapply Customer and Vendor Ledger Entries
  • Reversal of Posted Journals
  • Lab : Create a Bank Account
  • Lab : Apply and Post Cash Receipts
  • Lab : Enter and Post Manual Checks
  • Lab : Suggest Vendor Payments for a Single Vendor
  • Lab : Financially Void a Check
  • Lab : Void a Check
  • Lab : Unapply Posted Ledger Entries

Cash Management

  • Bank Reconciliation
  • Complete a Bank Reconciliation

Receivables and Payables Management: Payment Discount and Payment Tolerance

  • Set Up Payment Discounts
  • Lesson 2 to 3: Process Payment Discounts
  • Lesson 4 to 8: Set Up and Process Payment Tolerances
  • Lesson 9: Review the Posted Payment Discount Tolerance and the Payment Tolerance Entries
  • Lesson 10: Review Customer and Vendor Statistics
  • Lab : Post a Customer Payment with a Discount
  • Lab : Apply Posted Partial Customer Payments with Discounts
  • Lab : Set Up a Payment Tolerance
  • Lab : Process a Customer Payment Tolerance
  • Lab : Adjust the Vendor Payment Discount Amount

Receivables Management: Reminders and Finance Charge Memos

  • Set Up and Assign Reminder Terms
  • Set Up and Assign Number Series for Reminders and Issue Reminders
  • Create and Issue Reminders
  • Set Up and Assign Finance Charge Terms
  • Set Up and Assign Number Series for Finance Charge Terms
  • Create and Issue Finance Charge Memos
  • Calculate Interest on Reminders
  • Lab : Set Up and Assign a Reminder Term
  • Lab : Create and Issue Reminders
  • Lab : Set Up and Assign a Finance Charge Term
  • Lab : Create and Issue Finance Charge Memos


  • VAT Calculation Types
  • Display VAT Amounts in Sales and Purchase Documents
  • Manually Adjust VAT Amounts in Sales and Purchase Documents and Journals
  • Unrealized VAT
  • VAT Statements
  • VAT Settlement
  • Lab : Adjust a VAT Amount in a Sales Document
  • Lab : Adjust a VAT Amount in a Purchase Journal


  • Setting Up Prepayments
  • Set Up Prepayment Percentages for Customers and Vendors
  • Set Up Prepayment Percentages for Customer-Item and Vendor-Item Combinations
  • Set Up Prepayments Verification
  • Prepayments Processing Flows
  • Prepayment Sales and Purchase Orders Overview
  • Process Prepayment Sales and Purchase Orders
  • Prepayment Sales and Purchase Invoices
  • Prepayment Purchase Order Process
  • Lab : Set Up Prepayments for Sales
  • Lab : Prepayment Sales Order Process with Payment Discount
  • Lab : Prepayment Sales Order Process with Unrealized VAT

Year End Closing Procedures

  • Lessons 1 to 3: Closing a Fiscal Year
  • Lab : Post an Entry into a Closed Fiscal Year

Training provider

Teaching mode: Classroom - Instructor Led
Duration: 2 days
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