Financial Modules Setup Checklist AX2012

As setting up financial modules in Microsoft Dynamics AX is getting more and more complex due to a large set of parameters, a checklist in order to avoid wasting time going back and forth between dependent ones becomes a real need. With some experience in Microsoft Dynamics AX configurations from scratch, hereby, I provide sort of a road map to get essential features up and running. I assume that the legal entity is already created with related Organization administration module setup also configured, although, you can set them up later:

1. Financial Dimensions: General ledger > Setup > Financial dimensions > Financial dimensions
2. Dimension link: Inventory and warehouse management > Setup > Posting > Dimension link
3. Fiscal calendars: General ledger > Setup > Fiscal Calendars
4. Rate Types:  General ledger > Setup > Currency > Exchange rate types
5. Exchange rates:  General ledger > Setup > Currency > Currency exchange rates
6. Chart of Accounts: General ledger > Setup  > Chart of accounts  > Chart of accounts
7. Account structures  General ledger > Setup > Chart of accounts > Configure account structures
8. Ledger: General ledger > Setup > Ledger
9. Number sequences: Organization administration> Common> Number sequences> Number sequences
10. Bank Accounts: Cash and bank management > Common > Bank Accounts
11. Accounts for automatic transactions:  General ledger > Setup > Posting > Accounts for automatic transactions
12. Ledger posting groups:  General ledger > Setup > Sales tax > Ledger posting groups
13. Sales tax authorities: General ledger > Setup > Sales tax > Sales tax authorities
14. Sales tax settlement periods:  General ledger > Setup > Sales tax > Sales tax codes
15. Sales tax groups: General ledger > Setup > Sales tax > Sales tax groups
16. Item sales tax groups:  General ledger > Setup > Sales tax > Item sales tax groups
17. Journal names: General ledger > Setup > Journals > Journal names
18. General ledger parameters: General ledger > Setup > General ledger parameters
19. Terms of payment: Accounts payable > Setup > Payment >Terms of payment
20. Vendor groups: Accounts payable > Setup > Vendors > Vendor groups
21. Posting profiles: Accounts payable > Setup > Vendor posting profiles
22. Accounts payable parameters: Accounts payable > Setup > Accounts payable parameters
23. Terms of payment: Accounts receivable > Setup > Payment > Terms of payment
24. Customer groups: Accounts receivable > Setup > Customers > Vendor groups
25. Posting profiles: Accounts receivable > Setup > Customer posting profiles
26. Accounts receivable parameters: Accounts receivable > Setup > Accounts receivable parameters
27. Item groups: Inventory and warehouse management > Setup >Inventory > Item groups
28. Posting: Inventory and warehouse management > Setup >Posting > Posting
29. Inventory and warehouse management > Setup >Inventory > Item model groups
30. Your comments!