Saturday, April 25, 2015

Deep inside Dynamics AX 2012 Payment Settlement scenarios (1st Scenario)


In this series I am going to illustrate 8 scenarios about how we can settle a customer payment with invoice in Dynamics AX 2012.

We will start with the basic scenario, then move on to more complex scenarios each time. the following list illustrate the roadmap for the series:

First Scenario: Settle a customer payment with an invoice.
Second Scenario: Automatic settlement and prioritization.
Third Scenario: Cash discount handling for over payments.
Fourth Scenario: Settle a partial customer payment and settle the final payment in full before the discount date.
Fifth Scenario: Settle a partial customer payment before the discount date with a final payment after the discount date.
Sixth Scenario: Settle a partial customer payment that has multiple discount periods.
Seventh Scenario: Use one customer payment to settle multiple invoices that span multiple discount periods.
Eighth Scenario: Settle a partial customer payment that has discounts on credit notes.


Today we will start with the 1st scenario to learn how we can settle a customer payment with an invoice using Dynamics AX 2012.
This scenario illustrates three simple examples of a settlement in which one payment is settled with one or more invoices.

Prerequisites:

You Need to Sell products to customer Two Times and invoiced the customer two times.

In my case i created the following Invoices for the same SHA Company.

Invoice Number   Invoice Date Invoice Amount
FTI-000002       04/20/2015   100.00
FTI-000003       04/21/2015   500.00

The SHA Company Balance is 600.00 as of April 22.

To settle this Invoices you can use one of the following three options:

Option 1: Enter and settle a payment with transactions.

On April 22, I received a payment from the SHA Company for 100.00. I settles this payment with the first invoice, FTI-000002, by following these steps.

1- Go TO  Accounts receivable --> Journals --> Payment journal --->  create a journal, and then click Enter customer payments.

2- In the Enter customer payment information field group, enter the payment information. Then Select to pay grid, select invoice FTI-000002.

4- Click Save in journal.

5- Close the form.

6- In the Payment journal form, click Post --> Post to post the payment journal.

7- SHA Company balance is now 500.00.


Option 2: Enter and settle a payment for a single invoice in a payment journal.

On April 22, I received a payment from SHA Company for 500.00. I settles this payment with the second invoice, FTI-000003, by following these steps.

1- Go TO  Accounts receivable --> Journals --> Payment journal --->  create a journal, and then click Lines.

2- In the Invoice field, enter FTI-000003. Information about the customer is displayed automatically.

3- Click Post > Post to post the payment journal.

4- SHA Company balance is now 100.00.

Option 3: Enter and settle a payment for a single invoice in a payment journal.

On April 22 I create two new Invoices FTI-000004 100 USD, FTI-000005 500 USD for SHA Company, Then on April 23 I received a payment from SHA Company for 600.00. I settle this payment with invoices FTI-000004 and FTI-000005 by following these steps.

1- Go TO  Accounts receivable --> Journals --> Payment journal --->  create a journal, and then click Lines.

2- In the Account field, enter SHA Company account, JO-001. Then Click Functions > Settlement.

4- In the Settle open transactions form, select the Mark check box on the line for both the FTI-000004 and FTI-000005 SHA Company invoices.

5- Close the Settle open transactions form.

6- Click Post > Post to post the payment journal.

7- SHA Company balance is now 0.00.

Congratulations we finished the 1st Scenario. in the next post we will discuss the second Scenario (Automatic settlement and prioritization).

See Also