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Mohamed Aamer - Microsoft Dynamics AX 2012 Financial Management

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Mohamed Aamer Microsoft Dynamics AX 2012 Financial Management
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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.

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Microsoft Dynamics AX 2012 Financial Management

Microsoft Dynamics AX 2012 Financial Management

Copyright 2013 Packt Publishing

All rights reserved. No part of this book may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, without the prior written permission of the publisher, except in the case of brief quotations embedded in critical articles or reviews.

Every effort has been made in the preparation of this book to ensure the accuracy of the information presented. However, the information contained in this book is sold without warranty, either express or implied. Neither the author, nor Packt Publishing, and its dealers and distributors will be held liable for any damages caused or alleged to be caused directly or indirectly by this book.

Packt Publishing has endeavored to provide trademark information about all of the companies and products mentioned in this book by the appropriate use of capitals. However, Packt Publishing cannot guarantee the accuracy of this information.

First published: November 2013

Production Reference: 1151113

Published by Packt Publishing Ltd.

Livery Place

35 Livery Street

Birmingham B3 2PB, UK.

ISBN 978-1-78217-720-3

www.packtpub.com

Cover Image by Aniket Sawant (<>)

Credits

Author

Mohamed Aamer

Reviewers

Kamalakannan Elangovan

Wim Vanhoorne

Acquisition Editors

Llewellyn Rozario

Gregory Wild

Commissioning Editor

Manasi Pandire

Technical Editors

Rosmy George

Ankita Thakur

Copy Editors

Deepti Kapadia

Lavina Pereira

Gladson Monteiro

Aditya Nair

Project Coordinator

Suraj Bist

Proofreader

Ameesha Green

Indexer

Priya Subramani

Graphics

Sheetal Aute

Ronak Dhruv

Valentina Dsilva

Yuvraj Mannari

Production Coordinator

Manu Joseph

Cover Work

Manu Joseph

About the Author

Mohamed Aamer is a Microsoft Dynamics AX Support Engineer for EMEA region with Microsoft, Egypt. In 2013, he was awarded Microsoft Dynamics AX MVP, and is the first AX MVP in the Middle East and Africa. His main focus is on implementing Microsoft Dynamics AX to fit customers' needs. He uses his time to understand customer business cycles and solve customer business problems through a combination of business process re-engineering and utilization of the application functionalities. He is a Microsoft Certified Professional (MCP) specialized in financial management and supply chain management. In addition to this, he is a Microsoft Certified Trainer (MCT).

Mohamed has varied consultation experience in dealing with Microsoft Golden Partners and Microsoft customers. He has worked as a consultant in many industries such as Retail Fashion, Retail Electronics, Cement Manufacturing, Trading, and Ready Mix. He has carried out multiple implementations of Microsoft Dynamics Retail Management System and Microsoft Dynamics AX in numerous capacities, such as Project Manager, Solutions Architect, and Lead Consultant. His consulting skills are complemented by his business, management, and interpersonal skills.

He is also a column author of AX-Excellence at MSDynamicsWorld.com community, an official blogger at Microsoft Dynamics Community, and a blogger on his own blog www.blog.mohamedaamer.com. He delivers evangelizing sessions to Microsoft Student Partners (MSPs) to introduce Microsoft Dynamics AX and Microsoft Dynamics Sure Step to them. He has been ranked in the top 100 influential people in DynamicsWorld.co.uk for two consecutive years. He has obtained other badges from Microsoft, such as Microsoft Community Contributor (MCC) and Microsoft Dynamics Community Expert.

When not working on complex business processes, he attends live Sufi shows and music concerts.

Acknowledgments

My sincere thanks to all the people who directly/indirectly taught, guided, supported, and advised me to become a consultant. I am doing my best to improve myself. This acknowledgment is for the people who have made a massive impact on my career. I'd like to thank all of them as I cannot thank them enough.

I dedicate this book to the memory of my father and my uncle Hamza; both of them invested in my brother and myself the seed of concepts and beliefs and now we are harvesting them. My father always said to me, "I believe in you when you say you can do; you can achieve more than what you target, just focus", and my uncle Hamza said to me after my graduation, "You just met your lifetime teacher who will guide you through your entire life".

My older brother Ramy, who is my inspiration, gives me his time, effort, daily advice, coaching, and leadership. He always gives me support and encourages me. He is my mentor. Ramy put me on the Information Technology track and gave me the chance to choose which gate I will pass through. He helped me to finish my college and convinced me to attend the first e-commerce seminar in the Middle East; that was the first spark. I consider Ramy as my source of energy.

I cannot forget my mother's support and her prayers for me.

Also, my wife sacrificed so much of our personal life during the development of my career, and I cannot thank her enough for that.

Dr. Salah El Kashef is the Corporate Training and Consulting DirectorMiddle East and North Africa Region Governors Consulting Services, LLC. Salah was my first instructor who introduced the e-commerce subject to me in 2002 and helped me become a certified e-commerce consultant before my graduation. He helped me by directing my career to Information Technology Management.

Shaimaa Farid is an IT Administrator at The Alexandria Trust. I have worked with her as an application consultant for Microsoft Dynamics RMS. She is the one who provided me with information on an opportunity to take up Microsoft Dynamics AX scholarship in 2008 with Microsoft. She provides a lot of support and encouragement to me to focus on my career as a consultant. Shaimaa is one of the best customer-oriented people I have worked with.

Mohamed Samy is a Chief Technology Officer. He is the one who introduced me to the community as a speaker at Cairo Code Camp. I used to deliver sessions with him as a co-presenter evangelizing Microsoft Dynamics AX and Microsoft Dynamics Sure Step to the Egyptian community. He predicted that I will be an AX MVP. He is a very talented IT geek with unique creative solutions. I enjoy our community activities together.

Ahmed Abuelmaged is an Academic Developer Evangelist with Microsoft. He used to manage and schedule the Microsoft Dynamics AX and Microsoft Dynamics Sure Step sessions with Microsoft Student Partners (MSPs). I believe we did a good job, especially when I see students joining that field.

Ahmed Kazem is a Development consultant. He is an artistic developer. He can absorb any technology in a very short time. He is the one who develops, maintains, and supports my blog technically. I have never met a smart and gifted developer like him.

Dr. Nezar Samy is the Director of Information Systems Department, Nile University. He was my instructor for Information Technology Management Professional Certificate at America University in Cairo. He taught me the perspective of the IT role as a business enabler, and gave me a chance to improve my presentation skills.

Chandru Chankar is an EMEA & LATAM ERP Lead with Microsoft. He has given me a lot of motivation and support during my career. I can always approach him for an advice and to share ideas. I am very proud to meet a person like him and consider him as a family friend. He is my career role model.

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