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Microsoft Dynamics AX 2012 Financial Management by Mohamed Aamer

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Understanding financial management in action

Here we will understand the process of financial management through the opening balance and various daily transactions.

Opening balance

When a company migrates from a legacy ERP solution to Microsoft Dynamics AX, one of the important data migration tasks is creating opening balances in the new Dynamics AX system based on the closing balances of the previous closed period (often the fiscal year) from the legacy system.

In order to ensure the accuracy of your Dynamics AX's opening balances, it is important to take a systematic approach to the process of planning, designing, and executing the migration of data for trial balances and subledgers, as well as validation and reconciliation of these elements along ...

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