Get to grips with how to successfully use Microsoft Dynamics AX 2012 for financial management with this concise and practical reference guide Overview Understand the financial management aspects in Microsoft Dynamics AX Successfully configure and set up your software Learn about real-life business requirements and their solutions Get to know the tips and tricks you can utilize during analysis, design, deployment, and operation phases in a project lifecycle In Detail Microsoft Dynamics AX software solutions for financial management give you a way to raise the visibility of financial metrics and increase the effectiveness of your financial management. With AX you can gain an insight into financial performance and plan strategically. You will be able to make informed decisions through the handling of revenue, payments, receipts, and cash flow. You can access real-time information across the organisation; Dynamics AX has easy-to use inquiry tools, plus powerful analysis and reporting capabilities. Throughout the course of a Microsoft Dynamics AX implementation, you may need advice on how to best utilize the software to meet your specific business needs. Microsoft Dynamics AX Financial Management is a complete solution to all of your implementation queries, and it shows you how to fully utilize Dynamics AX to suit your specific financial management needs. This book is a practical guide that aims to give you a comprehensive insight into financial management using Microsoft Dynamics AX. Throughout this book, you will find discussions of the functionality provided by Dynamics AX as well as basic setups, configurations, integration points, and controls. This book covers opening balances migration best practices, closing procedures, and bank reconciliation, which are common topics that arise during the implementation of any project. You will also learn about cash flow models and transactions, inventory costing models, the DAX costing mechanism, and financial dimension business values to ensure the accuracy of data entry and to monitor company performance through reporting and analysis. What you will learn from this book Examine the business logic behind Microsoft Dynamics AX financial functionality Set up and configure the core modules of financial management See the impact of control points on daily transactions Plan and execute an opening balances migration and use the inventory costing mechanism Understand the essential business needs of financial dimensions, reporting, and analysis Approach This book is a practical, hands-on guide that covers both the basic and advanced concepts of financial management using Microsoft Dynamics AX. Who this book is written for Microsoft Dynamics AX Financial Management is for Microsoft Dynamics AX solution architects, application consultants, support engineers, pre-technical sales consultants, and project managers on the partner side, as well as chief financial officers, financial controllers, accounting managers, key users, business analysts, and chief information officers on the customer side. A basic knowledge of financial terms, concepts, and Microsoft Dynamics AX terminologies will help you better understand the concepts covered in this book.