In my last posts about MS Dynamics AX 2012 Prepayment function I have explored with you an overview about MS Dynamics AX 2012 prepayment, posting profiles setups, and prepayment assignment by procurement admin.
Today we will move forward when the vendor submit the prepayment invoice, the accounts payable post the Prepayment invoice, enter invoice number, and description. MS Dynamics AX 2012 automatically flag prepayment invoice.
MS Dynamics AX 2012 – Prepayment Invoice – Settlement
(*)As per posting profile setup in the MS Dynamics AX 2012 demo company the genereated entry is:
Dr. Prepaid other expenses 100
Cr. Prepaid other expenses -100
The vendor balance have been affected by the invoice amount and shown in vendor Open transaction editing, and/or vendor balance. This amount is ready to be paid.
The bank accountant creates a payment journal, mark it is a prepayment in order to change posting profile, afterwards select vendor account, and then settles the open invoice with the payment. The bank accountant will find the prepayment invoice, mark it for payment.
MS Dynamics AX 2012 Prepayment – Invoice – Settlement(*)As per posting profile setup in the MS Dynamics AX 2012 demo company the genereated entry is:
Dr. Prepaid other expenses 100
Cr. Bank account -100
(*) genereated entries could be changed according to posting profile setup.
User group: DynamicsArabia
