ap daily procdure

Chapter 9: Accounts Payable Daily Procedures

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CHAPTER 9: ACCOUNTS PAYABLE DAILY PROCEDURES Objectives

The objectives are:

• Explain the different invoice journals • Register an invoice journal • Approve an invoice register journal • Create an invoice excluding posting • Create an invoice journal • Use a voucher template to create vouchers • Create a payment proposal • Run a payment proposal for a marked settlement • Create a payment journal • Generate a payment • Describe invoice matching. • Edit open transactions • Reverse a closed transaction • Define print management settings

Introduction This chapter discusses the various Invoice Journals in the Accounts Payable module of Microsoft Dynamics AX® 2009. It describes what to use each Invoice Journal for and how to enter transactions into each journal.

Purchasing goods for resale or as materials for manufacturing or services is a large responsibility. Tracking those purchases and paying the vendors that supply the goods is just as challenging.

Companies must monitor Accounts Payable closely and implement procedures to enable management to easily obtain the financial information that they must have to stay informed about changes in the costs of goods. To give an accurate view of the financial condition of the business, all the expenses that affect the net profit are included in Accounts Payable.

Microsoft Official Training Materials for Microsoft Dynamics ® Your use of this content is subject to your current services agreement

Financials I in Microsoft Dynamics® AX 2009

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Invoice Journals in Accounts Payable The procedure for handling invoices varies from company to company, depending on the company's size, structure and organization. Typically the invoices are:

• Registered • Approved • Paid

Microsoft Dynamics AX 2009:

• Supports several methods of managing incoming invoices to cater to different company procedures

• Has a different invoice journal depending on the need of the company

The different invoices available are:

• Invoice Register • Invoice Approval Journal • Invoice Pool excluding Posting • Invoice Journal

Invoice Register The purpose of the invoice register journal is to pre-register invoices when they arrive at the company and transfer them to an invoice pool for approval. In the invoice register journal, an employee registers the:

• Vendor account • Invoice number • Amount • Person who approves the invoice

The same employee validates and posts the journal to the accounts specified in the posting profile. Usually the accounts are pending accounts where the amounts await the manual approval and reclassification by the person specified in the journal line.



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Procedure: Register an Invoice

Follow these steps to register an invoice for approval.

1. Click Accounts payable, click Journals, click Invoices, and then click Invoice register.

2. In the Show field, select to view Open, Posted, or All journals. The default view is Open journals.

3. Press CTRL+N to create a new journal. 4. Enter the name of the journal in the Name field or select the name

from the selection list that contains journal names with the relevant journal type. If only one journal name is defined for this kind of journal, information in the Name field is entered automatically.

HINT: Create and define journal names in the Journal names form. To access the Journal names form, click General ledger, click Setup, click Journals, and then click Journal names.

5. The number and description are entered automatically in the Journal number and Description fields. These values default from the Journal names form, but you can overwrite them. All subsequent ledger transactions created in this journal contain the same journal number. This feature enables you to print a list of ledger transactions created in a specific journal. Journal numbering is controlled by a number sequence.

FIGURE 9.1 JOURNAL FORM



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Procedure: Register an Invoice - General

Most of the fields on the General tab inherit data from the Journal names form. Follow these steps to view or define additional posting parameters for the journal.

1. From the Journal form click the General tab. In the Identification and Journal areas, you can view information that was defined on the Overview tab.

2. The kind of transactions that you can post in this journal display in the Posting layer field.

3. Select the summation level from the Detail level list. Select from the following: o Details - to post every instance of an account number in the

journal lines as a separate account transaction o Summary - to combine the journal lines into one transaction

during posting if vouchers have the same date, account number, dimension, and currency code values, and the Payment reference field is blank.

4. Select to delete journal lines when posting is completed by selecting the Delete lines after posting check box. When you delete journal lines, however, you also lose the ability to inquire into journal lines later.

5. Enter the maximum number of lines in a journal in the Lines limit field. If this number is exceeded, the posting process distributes the lines into several smaller journals. This value defaults from the Journal names form but you can overwrite it.



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NOTE: Most of the fields on the General and the Setup tabs are inherited from the Journal names form and the Exchange rate form. Explanations of these fields are available in the topic about journal names and exchange rates.

FIGURE 9.2 JOURNAL FORM, GENERAL TAB

Prcoedure: Register an Invoice - Setup

Most of the fields on the Setup tab inherit data from the Journal names form and Exchange rates form, but you can overwrite them. Follow these steps to view or change posting parameters for the journal.

1. From the Journal form, click the Setup tab. 2. View the account type that the journal uses as the default offset

account type in the Account type field. 3. View the default offset account that copies automatically to all lines

in the journal in the Offset account field. 4. Enter the number of the external document in the Document field.

The number copies to the journal lines. 5. View the voucher number allocation in journals at the time of

posting in the Number allocation at posting field. 6. Enter the currency code in the Currency field. The code appears in

the Currency field in the journal lines. If you leave the field blank, the default currency is inserted in the journal lines.



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7. Select the Forced rate check box to use an exchange rate other than the rate that you usually would use according to the posting date for the selected currency code.

8. Select the Triangulation check box to include the exchange rate in triangulation.

9. Enter the currency exchange rate that applies to the transaction in the Exchange rate field. The exchange rate is expressed as the number of units of the foreign (non-company) currency that displays in the Express exchange rate field on the Ledger tab in the General ledger parameters form.

10. Enter the secondary exchange rate in the Secondary exchange rate field.

11. Select the Amount incl. sales tax check box if the amount in the journal line includes sales tax.

12. Select the default bank account for the journal lines in the Bank account field.

FIGURE 9.3 JOURNAL FORM, SETUP TAB

Procedure: Register an Invoice - Blocking

Follow these steps to enter and view parameters that indicate how the selected journal can be blocked by the system for use.

1. From the Journal form, click the Blocking tab. 2. View the name of the user who is using the journal currently in the

Used by user field.



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3. If the system has blocked the journal, the Locked by system check box is selected, and you cannot post in the journal. You also can select this check box manually. To release a blocked journal, clear this check box.

4. To exclude users or user groups from the journal, select the Private check box.

NOTE: For security reasons, only one user at a time can enter lines in a particular journal.

5. If you select the Private check box, the Private for user field contains your user identification.

6. To exclude users or user groups from the journal, select a group in the Private for user group field. Only the users associated with the selected group can access the journal.

FIGURE 9.4 JOURNAL FORM, BLOCKING TAB

Procedure: Register an Invoice - Dimension

Follow these steps to select dimension values to propose on the journal lines for the selected journal.

1. From the Journal form, click the Dimension tab. 2. Select a dimension value in any of the dimension fields. These

values display on the journal lines but you can change them.



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Procedure: Register an Invoice - History

View details about the approval procedure, if any, for the selected journal on the History tab.

Procedure: Register Invoice Lines

Follow these steps to create journal vouchers to validate, print, and post.

1. From the Journal form, click the Lines button. 2. Enter the posting date in the Date field. The system date displays,

but you can change it. 3. The Voucher series is entered automatically, because it is attached

to the journal name in the Voucher series field in the Journal names form. If you set the number sequence code with the Continuous option selected and no user changes are enabled, the field is skipped.

4. Select the vendor to register the invoice by in the Account field. 5. Enter the invoice number in the Invoice field. You cannot post the

invoice register, if you do not specify an invoice number. 6. Select the text regarding the transaction in the Transaction text list.

When you specify an offset account, the system uses the same text, until you specify offset transaction text.

7. Enter the appropriate amount in the given currency in the Debit or Credit fields. Enter an amount in the Credit field if you are entering an invoice. Enter an amount in the Debit field if you are entering a credit note.

8. In the Offset account type list, specify the account type as one of the following: o Ledger o Customer o Vendor o Project o Fixed assets o Bank



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Use Ledger, Customer, and Vendor when you post the transaction in the respective account. When, for example, you record a vendor invoice and specify Vendor in account type, posting occurs in the current vendor account. At the same time, posting automatically occurs in the vendor summary account in General Ledger. Use Project and Fixed assets to post to a specific project number or asset number. Use Bank if a bank account transaction is involved, and the transaction is used later for reconciliation in the Bank management module.

FIGURE 9.5 JOURNAL VOUCHER FORM

Procedure: Register Invoice Lines - Sales Tax

Follow these steps to view or edit sales tax information for the journal vouchers.

1. In the Journal voucher form, select a sales tax group for the transaction in the Sales tax group list. The value defaults from the Sales tax group field on the Setup tab of the Vendors form.

2. Specify the item sales tax group for each journal line in the Item sales tax group list. The value defaults from the Item sales tax group field in the Chart of Accounts form. If this field is empty, the system retrieves the group from the Item sales tax group field on the Sales tax tab in the General ledger parameters form. View the sales tax amount that calculates on the invoice in the Sales tax amount field.

NOTE: If the Exempt field in the Chart of Accounts is selected, the field is always empty, but you can enter a value manually.



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3. To view, edit, or enter additional sales tax to the transaction, click the Sales tax button. Edit or view the calculated taxes for the current line.

4. To edit the sales tax, enter either an adjusted amount in the Adjusted amount field or open the Adjustment tab and enter the corrections.

5. To save the changes, click the Apply button. To cancel the changes, click the Reset button.

6. Close the window to return to the journal.

Procedure: Register Invoice Lines - Invoice

Follow these steps to view or edit invoice information for the journal vouchers.

1. In the Invoice area of the Journal voucher form, specify in the Approved by list which employee approves the transaction. Restrict the approval function to a specific User group in the Approve field on the Setup tab of the Journal names form.

2. Enter the terms of payment for the current invoice in the Terms of payment list.

3. Enter the due date for the invoice in the Due date field. The due date calculates by the terms of payment, but you can change it manually. The calculation of the due date only occurs if an invoice number appears in the Invoice field.

4. Enter the payment identification used upon payment in the Payment ID field. If a payment proposal is used, the system suggests the payment ID from the invoice or credit note, but you can change it.

5. Specify the purchase order numbers regarding this invoice in the Purchase order list. This field is informational only.

Procedure: Register Invoice Lines - Payment

Follow these steps to view or edit payment information for the journal vouchers.

1. In the Payment area of the Journal voucher form, select the payment method to use on the current payment, invoice, or credit note in the Method of payment list.

2. Specify the payment specification, if any, for the current method of payment in the Payment specification list.



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Procedure: Register Invoice Lines - Currency

Follow these steps to view or edit currency information for the journal vouchers.

1. In the Currency area of the Journal voucher form, specify the currency to use in the Currency list. By default the system populates this field from the currency defined in the order listed from the following forms: o Chart of accounts o Vendors o Journal names o Company information

2. If the currency code is included in triangulation, select the

Triangulation check box. 3. The currency exchange rate that applies to the transaction displays in

the Exchange rate field. The rate defaults from the set up in the Exchange rates form. The exchange rate displays as the number of units of the foreign (non-company) currency that is indicated in the Express exchange rate field on the Ledger tab in the General ledger parameters form.

4. View the secondary exchange rate in the Secondary exchange rate field.

5. View the cross rate for the two exchange rates in the Cross rate field.

6. View the basis for the calculation of the cross rate in the Calculation method field.

NOTE: In the Validate currency code field in the Chart of Accounts form, you can set up validation rules for the currency.

Procedure: Register Invoice Lines - Cash Discount and Bank

Follow these steps to view or edit cash discount information for the journal vouchers.

1. In the Cash discount area of the Journal voucher form select the code for the cash discount in the Cash discount list.

2. Enter the latest payment date to qualify for a cash discount in the Cash discount date field. The discount date is calculated based on the cash discount setup, but you can change it manually.



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3. Enter the cash discount amount in the Discount amount field. When you make a payment before the cash discount date, the discount amount is redeemed and posted automatically. You also can set up the cash discount information on the Cash discount tab.

4. Identify the bank account in the Account identification list.

NOTE: Create the vendor's bank account in the Bank accounts form, which can be accessed by clicking Accounts payable > Vendors > Setup > Bank accounts.

Procedure: Register Invoice Lines - General

Follow these steps to enter additional information for the journal vouchers.

1. From the Journal voucher form click the General tab. 2. Select the posting profile for the transaction in the Posting profile

list. The posting profile defaults from the setup for the vendor. 3. Select the account number for the current offset account transaction

type in the Offset account list.

NOTE: In the Chart of Accounts form, you can set up a default offset account that appears automatically in the Offset account field.

4. Select an offset transaction text in the Offset-transaction text list. 5. Enter the number or name of the document that is the basis of the

transaction in the Document field. 6. Enter a date for the document in the Document date field. 7. Enter or view the amount to report on the 1099 form in the 1099

amount field. 8. Select the location on the 1099 form where you want to print the

1099 amount in the 1099 box list. 9. Specify the state for the delivery in the State field. 10. Enter the amount to report in the 1099 form in the 1099 state

amount field.



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Procedure: Register Invoice Lines - Dimension

On the Dimension tab, set up the dimensions for the invoice register transaction. If you designate dimensions in the Journal form, they default on each transaction. Override any of those defaults now or enter dimensions if no defaults are set up in the Journal form.

Procedure: Delete an Invoice

To delete an unposted journal line, highlight the line and either click the Delete button from the Toolbar or click the Functions button and select Delete journal lines.

Procedure: Post an Invoice

After you enter all the invoice journal lines, click the Post button to post the invoice journal.

The lines posted in the invoice register transfer to the invoice pool and the physical invoices are given to the person who must approve them. The person approves with a signature or a stamp and returns the invoices to the Accounting Department. When invoices return, the accountant registers the approvals in the invoice approval journal and posts them. After that, the invoice is ready to be paid, and the amounts post to the real cost accounts.

HINT: If the invoice register is not being used or if most of the incoming invoices do not require approval, enter the vendor invoices directly into an invoice journal.

When the invoice is registered, the tax authorities can refund the tax as long as the invoice is registered. This means the tax handling associates with the invoice and not the actual payment. This is relevant for non-U.S. tax handling.

Invoice Approval Journal After you post the lines of the invoice register, the postings display in the invoice pool.

Scenario

April, the Accounts Payable Clerk, registers an incoming invoice in the invoice register and posts the registration. April sends the physical invoice to Phyllis, the Accounting Manager, for approval. Phyllis approves the invoice with a signature or a stamp and returns the invoice to April. April registers and posts the approval in the invoice approval journal. Now the invoice is ready to be paid.



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Invoice Pool

To view the postings in the invoice pool click Accounts Payable, click Inquiries, and then click Invoice pool. When you work with the invoice pool:

• The invoice pool displays the relevant information about the invoices awaiting approval.

• The invoice pool holds invoices originating from a purchase order that originate from an invoice register. Click the Purchase order button to select and approve the purchase orders.

NOTE: All tabs and fields in the Invoice pool form are discussed in the Invoice Register lesson.

FIGURE 9.6 INVOICE POOL FORM

Procedure: Print Invoices Not Approved

The Invoices not approved report displays a list of invoices awaiting approval. For example, you may want to run this report by employee, and then give the report to the relevant people. The report reminds them to approve the invoices.



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Follow these steps to print the Invoices not approved report.

1. Click Accounts payable, click Reports, click Status, and then click Invoices not approved.

2. In the query window, you can specify: o Vendor account o Employee o Due date

3. Click the OK button.

Procedure: Approve an Invoice Register Journal - Fetch Vouchers

Follow these steps to create an approval journal.

1. Click Accounts Payable, click Journals, click Invoices, and then click Invoice approval journal.

2. Press CTRL+N to create a record. 3. Select the approval journal in the Name list. 4. Enter in the other relevant information. Refer to the Invoice Register

lesson to view the field explanations. 5. Click the Lines button to open the Journal voucher form. 6. To transfer the voucher to the journal for approval, click the Fetch

vouchers button. 7. Select the approved invoice vouchers, and then click the Select

button to move them to the lower pane. To select all the vouchers, click the Select all button.

HINT: If a voucher incorrectly displays in the Vouchers to be fetched area of the Fetch vouchers form, click the Remove button to move the voucher(s) from the Vouchers to be fetched area to the Vouchers available for fetching area.

8. With the correct vouchers appearing in the Vouchers to be fetched area, click the OK button.



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Procedure: Approve an Invoice Register Journal

After the vouchers have been fetched, follow these steps to continue to process the invoice register.

1. In the Journal voucher form, select one of the vouchers in the upper pane. In the lower pane, view the transaction lines that are created when the voucher posts. Ledger accounts from the temporary posting are selected already for these lines, but you must select the appropriate ledger account for the open line.

2. Click the Validate button, and then click Validate voucher only to run a check to verify that the invoice in the upper pane is ready for posting.

3. Select the next invoice in the upper pane, and enter the account information in the lower pane.

4. Repeat steps 1-3 until you have entered and validated account information for all the invoices.

HINT: Instead of validating each line, click the Validate button, and then click Validate when the account information is complete for all the invoices.

5. Click the Post button, and then click Post. You can now settle the posted invoices in the Payment journal.

Test Your Knowledge

After you post the lines of the invoice register, the postings display in the payment proposal.

( ) True ( ) False



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Lab 9.1 - Register an Invoice Scenario

April, the Accounts Payable Clerk at Contoso, creates invoice registers and approves invoices. April's typical workflow is to create invoice registers on Monday, view the invoices to be approved in the invoice pool on Tuesday, and if there are enough to process, approve the invoices by using the invoice journal on Tuesday and Wednesday.

These are the details:

Field Value Invoice register Inv_R

Vendor account 3002

Invoice number INV123

Transaction text Invoice

Credit 150

Approved by BKD

Terms of payment D30

Cash discount 7D4

Invoice approval Inv_A

Invoice approval description

Invoice approval

Invoice offset account 601500

Challenge Yourself!

Use the invoice register, invoice pool, and invoice approval journal to complete the workflow outlined in the scenario.

Need a Little Help?

1. The invoice register and the invoice approval journal are in journals. 2. The invoice pool is in inquiry. 3. The approver must be specified in the Approved by field in the

invoice register.



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Step by Step

Follow these steps to pre-register the invoice and transfer it to an invoice pool.

1. Click Accounts payable, click Journals, click Invoices, and then click Invoice register.

2. Press CTRL+N to create a new register. 3. Click the Name arrow, and then click APInvReg. 4. Click Lines. 5. Click the Account arrow, and then click 3002. 6. In the Invoice field, type INV123. 7. Click the Transaction text arrow, and then click Invoice. 8. In the Credit field, type 150. 9. Tab off the lines. 10. Click the Approved by arrow, and then click BKD. 11. Click the Terms of payment arrow, and then click D30. 12. Click the Cash discount arrow, and then click 7D4. 13. Click the Post button, and then click Post. 14. Close the form

Follow these steps to view the invoice in the invoice pool.

1. Click Accounts payable, click Inquiries, and then click Invoice pool.

2. Locate the line for the invoice previously created. 3. Close the form.

Follow these steps to create and post an invoice approval journal.

1. Click Accounts payable, click Journals, click Invoices, and then click Invoice approval journal.

2. Press CTRL+N to create a new invoice approval journal. 3. Click the Name arrow, and then click APInvApp. 4. Click the Lines button. 5. Click the Fetch vouchers button. 6. Click the voucher for INV123. 7. Click the Select button. The voucher appears in the Vouchers to be

fetched area. 8. Click the OK button. 9. In the Journal voucher form, click the Account arrow, and then

click 601500. 10. Click the Post button, and then click Post. 11. Click Close to close the Infolog. 12. Close all the forms



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Invoice Pool Excluding Posting Invoice pools excluding posting have the following characteristics:

• The invoice register excl. posting is another kind of journal available in the Accounts Payable module.

• Using the invoice journal represents another procedure for handling incoming invoices, although it is similar to the invoice register with posting. The difference is that you cannot post the lines. They go directly into the invoice pool.

• To post the lines, create a new invoice journal, and then click Functions. Then select Invoice pool and accept the individual invoices in the pool after you approve them.

• If you activate the invoice pool by accessing the invoice pool excl. posting item in the Accounts Payable menu, the invoices shown on the window are registered, unapproved invoices. Although the invoices are unposted, they are registered in the system.

• Use the invoice journal to transfer the invoices for approval and posting.

Scenario

April, the Accounts Payable Clerk at Contoso, registers the incoming invoice in the journal invoice pool excluding posting. April sends the invoice to Phyllis, the Accounting Manager, for approval. Phyllis approves the invoice with a signature or a stamp and returns the invoice to April. April creates a new invoice journal, uses the Function button to fetch the invoice from the invoice pool, and posts the journal. Now the invoice is ready to be paid.

Procedure: Create an Invoice Excluding Posting

Follow these steps to create an invoice without posting it.

1. Click Accounts payable, click Journals, click Invoices, and then click Invoice Pool Excl. Posting.

2. Enter the information necessary to create an invoice excluding posting. The fields are the same as described in the invoice register lesson.



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Procedure: Approve and Post an Invoice Excluding Posting

Follow these steps to approve and post the invoice excluding posting journal.

1. Click Accounts payable, click Journals, click Invoices, click Invoice journal to open the Journal form.

2. Press CTRL+N to create a new journal. Refer to the topic Procedure: Approve an Invoice Register Journal for more information.

3. Click the Lines button to open the Journal voucher form to transfer the invoice pool excluding posting record for approval and posting.

4. To fetch the invoice from the invoice pool excluding posting form, click the Functions button, and then click Invoice pool excl. posting.

5. Select one or more invoices in the Invoice pool excl. posting form, and then click the Accept button to transfer the invoices to the Journal voucher form.

6. To post the transactions click the Post button, and then click Post.

After the invoice posts, it is ready to be paid.

Test Your Knowledge

You can use the invoice pool to view registered invoices that are ready for posting.

( ) True ( ) False



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Lab 9.2 - Invoice Pool Excl. Posting Scenario

Phyllis, Accounting Manager at Contoso, has asked April, the Accounts Payable Clerk, to enter invoices to the invoice pool excluding posting. Phyllis wants to review April's work.


Field Value Vendor account 3002

Transaction text Invoice

Credit 1000


Invoice journal name Vend_I

Invoice journal description

Vendor invoice

Approver BKD

Offset account 601500

Challenge Yourself!

Help April enter the invoices into the invoice pool excluding posting. Then help Phyllis review and approve them in an invoice journal.

Need a Little Help?

1. Designate an approver from the Invoice pool excl. posting form. 2. Approve the invoice from the invoice journal.

Step by Step

1. Click Accounts payable, click Journals, click Invoices, and then click Invoice pool excl. posting.

2. Press CTRL+N to create a new journal. 3. In the Date field, type today’s date. 4. Click the Vendor account arrow, and then click 3002. 5. Click the Transaction text arrow, and then click Invoice. 6. In the Credit field, type 1000. 7. In the Invoice field, type INV777. 8. Click the History tab.



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9. Click the Approved by arrow, and then click BKD. 10. Close the form. 11. Click Accounts payable, click Journals, click Invoices, and then

click Invoice journal. 12. Press CTRL+N to create a new journal. 13. In the Name field, type Vend_I. 14. In the Description field, type Vendor invoice. 15. Click Lines. 16. Click the Functions button, and then click Invoice pool excl.

posting. 17. Click the line for INV777. 18. Click Accept. 19. Click the Invoice tab. 20. Select the Approved check box. 21. In the Offset account field that is to the far right of the form on the

Overview tab, enter 601500. 22. Click the Post button, and then click Post. 23. Click Close to close the Infolog. 24. Close all the forms.



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Invoice Journal A third option for processing incoming invoices is to enter them directly into the invoice journal.

• By default, the user who is logged in and who enters the journal lines approves the invoices.

• The invoice journal is designed for users to enter the invoices they receive from vendors without using the approval journal. As soon as the user enters the incoming invoices, the user can post.

Scenario

April, the Accounts Payable Clerk at Contoso, enters the invoice directly into a new invoice journal, and then approves and posts the journal. Now the invoice is ready to be paid.

Procedure: Create an Invoice Journal

Follow these steps to create an invoice journal.

1. Click Accounts payable, click Journals, click Invoices, and then click Invoice journal.

2. Press CTRL+N to create a new invoice journal. 3. Select a journal name in the Name list. 4. Enter the other relevant information. Refer to the Invoice Register

lesson for field explanations.

Procedure: Create Invoice Journal Lines

Follow these steps to add invoice journal lines.

1. From the Journal form, click the Lines button. 2. Enter any other relevant information. Refer to the Invoice Register

lesson for field explanations.

Procedure: Validate a Journal

After you enter transactions into Microsoft Dynamics AX 2009, you must post them to update the vendor's balance in the subsidiary ledger and the general ledger account balances.

You can validate and post from two forms, and the process is the same regardless of which window you use.

• Journal form • Journal voucher form



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Validate the Journal before it posts. The validate process ensures that the journal is correct. For example, the system verifies that all mandatory fields have information entered and that the journal balances.

To validate a journal, click the Validate button from either of the forms, and then click either Validate to validate all the journals or Validate voucher only to validate only the selected line.

If Then The journal is correct A window appears with the message: Journal

is OK.

The journal is incorrect A window appears with details of what is incorrect. If a journal does not validate correctly, it cannot be posted.

Procedure: Post a Journal

After you validate the journal, it is ready to be posted. To post the journal, click the Post button from either of the previous windows. There are two options to select from:

• Post - Posts the journal (provided it has no errors). • Post and transfer - Posts all correct vouchers in the journal and

transfers the lines with errors to a separate journal.

Test Your Knowledge

You must validate the journal before you post.

( ) True ( ) False



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Lab 9.3: Invoice Journal Scenario

April, the Accounts Payable Clerk at Contoso, has been asked by Phyllis, the Accounting Manager, to enter an invoice into an invoice journal, validate the journal, and then post it.


Field Value Invoice journal name APInv

Vendor account 3002


Credit 1300

Offset account type Ledger

Offset account 211320

Challenge Yourself!

Help April enter, validate, and post a journal.

Step by Step


2. Press CTRL+N to create a new journal. 3. Click the Name arrow, and then click APInv. 4. Click the Lines button. 5. Click the Account arrow, and then click 3002. 6. In the Invoice field, type INV879. 7. In the Credit field, type 1300. 8. Click the Offset account arrow, and then click 211320. 9. Click the Validate button, and then click Validate. 10. Click Close to close the Infolog. 11. Click the Post button, and then click Post. 12. Click Close to close the Infolog.



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Voucher Template Use a voucher template as the basis of future vouchers. You can use voucher templates with an accounts payable invoice journal.

Scenario

Phyllis, the Accounting Manager, is entering a voucher to record interest expense on a fixed-rate long-term note. The voucher debits Interest Expense and credits Interest Payable for 350 U.S. dollars (USD) each.

Phyllis must record this voucher for the same amount each month. To reduce future data entry time, Phyllis decides to save the voucher as a voucher template by amount.

The next time Phyllis records an interest expense, she selects the Load voucher template action and chooses the interest entry. The original ledger accounts and amounts load into the form.

Scenario

April, the Accounts Payable Coordinator, receives a telephone bill that she must enter. At Contoso the telephone expenses are distributed across all departments equally. April enters the voucher with the appropriate departments. The following table is an example of the distributions for an invoice in the amount of 600.00 U.S. dollars (USD).

Account Debit amount Credit amount Telephone Expense - Sales

150 USD

Telephone Expense - Accounting

150 USD

Telephone Expense - Production

150 USD

Telephone Expense - Administration

150 USD

Accounts Payable 600 USD

April chooses to save this entry as a Voucher template by percent. This will hold the value assigned to each account as a percentage of the total. In this case, she will assign each department 25 percent.

The next time April receives the telephone bill she must retrieve the Voucher template and enter only the amount of the telephone bill. The distributions will be created automatically based on the original percentage.



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Procedure: Create a Voucher Template

Follow these steps to create a voucher template.

1. Enter a transaction through the Invoice journal lines form as described in the Invoice Journal lesson.

2. Click the Functions button, and then click Save voucher template. 3. From the Template type list, select one of the following:

o Percent - Uses the percentage of the original voucher total represented by each voucher line.

o Amount - Uses the original voucher total and line amounts.

4. Click OK.

Procedure: Use a Voucher Template

After you create a voucher template, follow these steps to use a voucher template to create a new accounts payable invoice journal.


2. Press CTRL+N to create a new journal. Refer to the Invoice Journal lesson for more field information.

3. Click the Lines button. 4. Click the Functions button, and then click Select voucher template. 5. In the Voucher templates form, select the correct template. 6. Click OK. 7. If a percent voucher template is selected, enter the Amount of the

new transaction. When you create a new voucher based on a percent-type voucher template, the percentage calculated for each new line is applied automatically to the value in the Voucher amounts dialog. The percentage determines the amount for the new voucher line.

Test Your Knowledge

Which voucher template type lets users re-create a voucher for the same accounts and values as the original entry?

( ) Percent ( ) Division ( ) Aggregate ( ) Amount



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Payment Journals After you register, approve, and post the invoice, it is time to pay the invoice.

Payment journals have the following characteristcs:

• You can create payments through the payment journal. • Use the payment journal to enter and post payments. Make payments

and enter them into Microsoft Dynamics AX 2009 according to the terms of payment established with the vendors. In the payment journal there are several ways to create payment lines: o Click Payment proposal. o Click Functions and select Settlement. o Create a journal line and enter the payment details manually.

• There are two methods for selecting the invoices to pay through the

payment journal. o The Payment proposal option searches for invoice lines that

meet selected search criteria. o Use the Settlements option to select the specific invoice lines to

pay.

• After you create all the payment lines, use the Generate payments command on the Functions button to generate the payment. This is the selected method of payment and the setup of controls if Microsoft Dynamics AX 2009 should, for example, print checks or create a payment file.

NOTE: To learn more about all the tabs and fields on the Journal window, review the Invoice Register lesson.

Payment Proposal

You must post payments made to vendors to ensure the Accounts Payable subsidiary ledger matches the General Ledger.

• The payment proposal function searches for payment lines that either are due or have a maximum date for receiving a cash discount.

• The payment proposal function verifies vendor transactions that are open and approved.

The system includes in the search only transactions with either a due date or a cash discount date. As soon as the payment lines generate, edit them in the payment journal.



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Procedure: Create a Payment Proposal

Follow these steps to create a payment proposal.

1. Click Accounts payable, click Journals, click Payments, and then click Payment journal.

2. Press CTRL+N to create a new journal. Enter the additional information as necessary. Refer to the Invoice Register lesson for more information about the fields.

3. Click the Lines button. 4. Click the Payment proposal button, and then click Create payment

proposal.

FIGURE 9.7 VENDOR PAYMENT PROPOSAL FORM

Procedure: Create a Payment Proposal - Options

Follow these steps to designate options for vendor payment proposal.

1. In the Vendor payment proposal form select the kind of payment proposal to create in the Proposal type field. Select from the following options: o Per due date - transfers the set of vendor payments for due

invoices



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o By cash discount - transfers the set of vendor payments that fulfills the criteria for obtaining a cash discount

o Due date & cash discount - transfers the set of vendor payments that fulfills the criteria for obtaining a cash discount and after that, transfers vendor transactions proposed after the due date

2. Click the Select button to select specific vendors or a range of vendors.

3. Select the Generate check box to open the Edit payment suggestions form that displays invoices to be paid.

4. Enter the total amount to selected for payment in the Amount limit field.

5. Enter the maximum lines to pay in the Transaction limit field. 6. Enter the period for the customer transactions to include in the

payment proposal in the From date and To date fields. 7. Enter the lowest date for the payment in the Minimum date field. 8. Enter the date the payment is due in the Total payment date field. 9. Add other criteria as appropriate in the other fields on the Vendor

payment proposal form, and then click the OK button.

Procedure: Create a Payment Proposal - Payment Proposal Lines

After you select options and then click the OK button in the Vendor payment proposal form, the form will display the following information for you to verify:

• Payment proposal lines that meet the criteria appear in the lower Payment proposal pane.

• When you select a payment proposal line, view the open invoice transactions that contribute to the payment proposal line in the upper Open transactions pane.

• Review each proposal line and the associated open transactions before settlement. For example, delete an open invoice from the open transactions lines if you are unsatisfied with the items and you do not want to pay the invoice. To delete a line, put the pointer on the line and press ALT+F9. To change certain fields on several lines in one operation, select the lines, click the Multiple change button, and enter the values to be implemented.



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HINT: Select the Link check box to synchronize the two parts of the form. When this option is selected the Open transactions pane only shows transactions related to the current payment suggestion. When you move between paymet suggestions, the system updates open transactions.

FIGURE 9.8 VENDOR PAYMENT PROPOSAL FORM

Procedure: Create a Payment Proposal - Transfer, Validate, and Post

Follow these steps after you are satisfied with the results in the Vendor payment proposal form and are ready to transfer the proposal lines to the payment journal.

1. After you inspect all the proposed lines click the Transfer button to move the proposal lines to the payment journal when.

2. In the Payment journal lines form, continue to edit the lines in the payment journal if necessary.

3. Verify the balances of company bank accounts to ensure you can make the payments. To view the balances, click the Inquiries button, and then click Balance control.

4. Click the Validate button to validate the payment lines. 5. Click the Post button, and then click Post to generate the payments.



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Procedure: Mark Settlements

Use the settlement option as a second option for selecting invoice lines to pay.

Follow these steps to run a payment proposal for a marked settlement.



3. Click the Lines button. 4. Select a vendor account in the Account field.

NOTE: The Vendor account and Currency fields must contain values to select the Settlements option.

5. Click the Functions button, and then click Settlement to open the Open transaction editing form.

FIGURE 9.9 OPEN TRANSACTION EDITING FORM



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Procedure: Mark Settlements - Open Transaction Editing

Follow these steps to mark invoices for settlement.

1. From the Open transaction editing form select the Mark check box to transfer the invoice to the Vendor payment proposal form. Mark one or several invoices for settlement.

NOTE: A red mark displays in the Is marked field if a transaction already is marked for settlement.

2. Select the Payment proposal check box. 3. Close the form after you mark the invoices for payment. When you

close the Open transaction editing form, the Vendor payment proposal form opens and shows the payment proposal and the open transactions.

Procedure: Mark Settlements - Transfer, Validate, and Post

Follow these steps after you are satisfied with the results in the Vendor payment proposal form and are ready to transfer the proposal lines to the payment journal.

1. Click the Transfer button to move the proposal lines to the payment journal after you inspect all the proposed lines.

2. In the Payment journal lines form, continue to edit the lines in the payment journal if necessary.

3. Verify the balances of company bank accounts to ensure that you can make the payments. To view the balances, click the Inquiries button, and then click Balance control.

4. Click the Validate button to validate the payment lines. 5. Click the Post button, and then click Post to generate the payments.

Procedure: Create a Manual Payment Journal

You can create a payment journal by entering the invoice information. Follow these steps to create a manual payment journal.



3. Click the Lines button.



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4. Enter values in the relevant fields in the first line on the Overview tab of the Journal voucher form. Some fields may be entered automatically with values from fields in the Journal form. Make entries in the following fields: o Account o Transaction Text (This is optional, but it eases the entry of lines

in the journal because the pointer automatically goes to the appropriate Debit or Credit field.)

o Enter an appropriate amount in the Debit or Credit field. o Select an Offset Account Type in the Offset account type list. o Select an offset account in the Offset Account list. o Press the down arrow key to create a new line, and then enter

information about the next voucher.

Procedure: Create a Manual Payment Journal - Validate and Post

Follow these steps to check the entry and post the payment.

1. From the Journal voucher form click the Validate button after you enter all the voucher lines, and then click Validate or Validate voucher only. This verifies that all the lines or the selected lines are ready for posting.

2. Post the lines in the Journal voucher form or in the Journal form. Click the Post button, and then click Post.

NOTE: Click the Inquiries button, and then click Balance control to ensure that the bank account has funds available to pay the vendor.

Procedure: Generate Payments

After you create the payment journal, it is ready to be paid. The procedure on how to generate payments is the same for:

• Payment proposals • Settlements • Manual payment journals



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Follow these steps to generate a payment.

1. From the Journal voucher form, click the Functions button, and then click Generate payments.

2. Select the method of payment for the invoice lines you are paying in the Method of payment list. For example, if you are making a check payment, select the method of payment for checks. Or, select an export format in the Export format list.

3. Select the bank account from which to withdraw the payment in the Bank account list.

Procedure: Generate Payments - Print Checks

Follow these steps to print checks.

1. From the Generate payments form, click the Dialog button to pay with checks.

2. Fill in the fields and then click the Document button to print the check.

3. Click OK to print the checks.

NOTE: To print checks, before you run the generate payments process, run the create checks process in bank management. For information about this refer to the Bank Management course.

HINT: Before checks print, ensure that the printer has the correct checks ready to print.

NOTE: To void checks after they are printed, click Payment status and select Reject.

CAUTION: As soon as checks are printed, the journal lines cannot be deleted unless the checks are voided.

Procedure: Generate Payments - Post

Follow these steps to post the payment.

1. View the status of the payment in the Status field in the Payment journal lines form. After the payment generates, the status is set to Sent automatically.

2. Click Post to update the vendor account balance in the subsidiary ledger and General Ledger account balances.



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Lab 9.4 - Payment Journals Scenario

Sara, the CFO at Contoso, has returned from the annual Microsoft conference called Convergence. She has submitted her expenses using an outside travel agency called Margie's Travel. April, the Accounts Payable Clerk at Contoso, must register and post the invoices in Microsoft Dynamics AX 2009, each in a separate journal. She must then validate and post each journal.


Airfare for trip to Convergence

Option Value Date 4/1/2008 Invoice number 1000 Amount 550 USD Approver Ezio Alboni

Hotel for trip to Convergence


Car Rental for trip to Convergence


Challenge Yourself!

Help April with the following tasks:

1. Register the invoices. 2. Post the approvals for all three of these transactions in one journal.



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3. Enter the expense accounts to balance each line item: o For the Airfare line, use account 601500 o For the Hotel line, use account 601500 o For the Car Rental line, use account 601500

4. After you complete the required steps, validate and post this journal. 5. Make the appropriate edits and validate the journal again. 6. Post the journal. 7. Generate the payment(s) for this invoice. 8. Print, validate, and post the payments.

Step by Step

Follow these steps to enter invoices in Accounts Payable.

Airfare Invoice

1. To register the invoice, use the Invoice Register. Click Accounts payable, click Journals, click Invoices, and then click Invoice register.

2. Press CTRL+N to create a new journal. 3. Click the Name arrow, and then click APInvReg. 4. Click the Lines button. 5. Enter 4/1/08 for the date. 6. In the Account field select 8005 - Margie's Travel. 7. In the Invoice field enter 1000. 8. In the Transaction text field enter Airfare for Convergence. 9. Enter $550 in the Credit field. 10. Click the Approved by arrow, and then click 2100 - Brooke Drynan. 11. Click the Validate button, and then click Validate. 12. In the Infolog click the Close button. 13. Click the Post button, and then click Post. 14. In the Infolog click the Close button. 15. Close the Journal voucher form.

Hotel Invoice

1. From the Journal form, press CTRL+N to create a new journal. 2. Click the Name arrow, and then click APInvReg. 3. Click the Lines button. 4. Enter 4/1/08 for the date. 5. In the Account field select 8005 - Margie's Travel. 6. In the Invoice field enter 1001. 7. In the Transaction text field enter Hotel for Convergence.



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8. Enter $600 in the Credit field. 9. Click the Approved by arrow, and then click 2100 - Brooke Drynan. 10. Click the Validate button, and then click Validate. 11. In the Infolog click the Close button. 12. Click the Post button, and then click Post. 13. In the Infolog click the Close button. 14. Close the Journal voucher form.

Car Rental Invoice

1. From the Journal form, press CTRL+N to create a new journal. 2. Click the Name arrow, and then click APInvReg. 3. Click the Lines button. 4. Enter 4/1/08 for the date. 5. In the Account field select 8005 - Margie's Travel. 6. In the Invoice field enter 1002. 7. In the Transaction text field enter Car Rental for Convergence. 8. Enter $150 in the Credit field. 9. Click the Approved by arrow, and then click 2100 - Brooke Drynan. 10. Click the Validate button, and then click Validate. 11. In the Infolog click the Close button. 12. Click the Post button, and then click Post. 13. In the Infolog click the Close button. 14. Close the Journal voucher form. 15. Close the Journal form.

Follow these steps to use the invoice approval journal.

1. Click Accounts payable, click Journals, click Invoices, and then click Invoice approval journal.

2. Press CTRL+N to create a new journal. 3. Click the Name arrow, and then click APInvApp. 4. Click the Lines button. 5. Click the Fetch Vouchers button. 6. To select all three vouchers, click theSelect All button, and then

click OK. 7. With the Airfare line is highlighted, go to thelower section of the

screen. Enter 601500 in the Account field. 8. Highlight the Hotel line in the upper section and add a new line item

in the lower section of the screen. 9. Enter Account 601500. 10. Highlight the Car Rental line in the upper section and add a new line

item in the lower section of the screen. 11. Enter Account 601500.



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12. Click the Validate button, and then click Validate. 13. In the Infolog click the Close button. 14. Click the Post button, and then click Post. 15. In the Infolog click the Close button. 16. Close the forms.

Follow these steps to make payments for the invoices.


2. Press CTRL+N to create a new journal. 3. Click the Name arrow, and then click APPay. 4. Click the Lines button. 5. Click the Payment proposal button, and then click Create Payment

Proposal. 6. In the Proposal type list, select Due date & cash discount. 7. Click the Select button. 8. Enter 8005 (Margie's Travel) in the Criteria field for the Vendor

account, and then click OK. 9. Enter 5/15/08 in the To Date field. 10. Click OK. 11. In the Vendor Payment Proposal form, click the Transfer button. 12. Click OK. 13. Click the Functions button, and then click Generate payments. 14. Select the Method of Payment of USAUSD_CHK, and then click

OK.



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Invoice Matching Accounts payable invoice matching is the process of matching the vendor invoice, purchase order, and packing slip information. Vendor invoices frequently are based on packing slips that represent actual shipments, instead of on purchase orders. Sometimes the invoiced amounts do not match the purchase order amounts, and sometimes the shipped quantities do not match the invoiced quantities. To manage this information, Microsoft Dynamics AX enables you to do the following things:

• Create an accounts payable invoice based on packing slips. Packing slips automatically are suggested for invoicing, and you can select which packing slips to use. You also can select specific packing slip line items from multiple purchase orders, if necessary.

• Enter and save an invoice before a shipment arrives. After the packing slip that represents the shipment arrives, you can match the appropriate packing slip lines to the invoice lines.

• View and approve quantity differences between the invoiced quantity on the invoice and the received quantity on the packing slip. If there is a difference, you can save the invoice and later match it to a different packing slip or change the invoice quantity to match the received quantity.

• Enter invoice amounts that were not included on the original purchase order so that the invoice information matches the invoice that you received from your vendor. You can compare the miscellaneous charges for purchase orders with the miscellaneous charges for invoices. If necessary, you can add miscellaneous charges to invoices and allocate them to invoice lines.

• View and approve price match discrepancies between the invoice net unit price and the purchase order net unit price. You can set up price tolerance percentages for companies, vendors, and items. If the vendor invoice line price is not within the acceptable price tolerance, you can save the invoice until it is approved for posting, or until you receive a correction from the vendor.

Scenario

Alicia, the Buyer at Contoso, enters a purchase order with one line item for 50 bulbs at a price of 2.00 U.S. dollars (USD) each. The purchase order is approved and submitted to the vendor.

The vendor ships only 30 bulbs. Sammy, the Shipper, enters a packing slip for 30 bulbs.



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April, the Purchasing Agent, receives the invoice in the mail for 50 bulbs at a price of 2.00 USD each for a total of 100 USD, but the totals that April is viewing reflect 30 bulbs at 2.00 USD each, for a total of 60 USD. April examines the vendor invoice and notices that the quantity is 50, not 30 as the system defaulted. She changes the invoice quantity to 50. The system flags April with a Quantity matching discrepancy, because the quantity on the invoice does not equal the total matched quantity for the invoice line.

April cannot post the invoice, but she chooses to put it on hold so she can check with Alicia or Sammy to inquire why the invoice has arrived for a quantity that differs from the packing slip quantity currently posted in the system.

Procedure: Define Parameters

Invoice Matching enables the set up of price tolerance percentages that you can use to identify discrepancies among purchase order line prices, packing slip line quantities, and invoice line prices and quantities.

Follow these steps to enable invoice matching.

1. Click Accounts Payable, click Setup, and then click Parameters. 2. Select the Updates tab. 3. Select the Use invoice matching for this company check box. 4. In the Post invoice match discrepancies field, select from the list to

require approval before posting an invoice that contains invoice matching discrepancies by selecting one of the following options: o Allow with warning o Require approval

5. In the Display price match icon field, select from the list to display

an icon: o If line prices are greater than allowed tolerance o If line prices are greater than or less than allowed tolerances

For example, if the tolerance is five percent and the purchase order unit price is 10.00 U.S. dollars, a price match icon is shown if the invoice unit price exceeds 10.50 U.S. dollars. If the Display price match icon field is set to If line prices are greater than or less than allowed tolerances, an icon displays if the invoice unit price is less than 9.50 U.S. dollars.

NOTE: These fields are available only if the Invoice matching configuration key is selected.



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Procedure: Modify an Inventory Model Group for Invoice Matching

Price discrepancies between the price of an item on a packing slip and the price on a corresponding invoice may affect the recorded inventory cost of the item. To help ensure that users record inventory costs correctly, require that packing slip information be posted before invoice information can post.

1. Click Inventory management, click Setup, click Inventory, and then click Inventory model groups.

2. Select an inventory model group. 3. On the Setup tab, select the Receiving requirements check box to

designate that users must update item receipts physically before they can update the receipts financially. Users must enter and post a packing slip before they can post the corresponding vendor invoice. If there is a difference between the received quantity on the packing slip and the invoiced quantity on the invoice, an icon displays in the Packing slip quantity match column in the Posting invoice form.

4. Select the Deduction requirements check box. When selected, users must update item deductions physically before they update them financially. Users must enter and post a packing slip before they post a corresponding vendor invoice. If there is a difference between the deducted quantity on the packing slip and the negative invoiced quantity on the invoice, an icon displays in the Packing slip quantity match column in the Posting invoice form.

5. Repeat steps 2 through 4 for the inventory model groups for which you want to use invoice matching.

Procedure: Create Item Price Tolerance Groups

You can set up price tolerance information for all items in your company, for item price tolerance groups, or for individual items. To set up item price tolerances by group, first create item price tolerance groups and then assign each item to the appropriate group. For example, you might set up three item price tolerance groups: High, Medium, and Low.

Follow these steps to set up price tolerance information.

1. Click Inventory management, click Setup, click Price/Discount, and then click Item price tolerance groups.

2. Press CTRL+N to create a new item price tolerance group. 3. Enter an identifier for the item price tolerance group and a name. 4. Repeat steps 2 and 3 for the remaining item price tolerance groups. 5. Click Inventory management, and then click Item details.



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6. Select an item. 7. On the General tab, select an item price tolerance group. 8. Repeat steps 6 and 7 for the remaining items.

Procedure: Create Vendor Price Tolerance Groups

Set up price tolerance information for all vendors in your company, for vendor price tolerance groups, or for individual vendors. To set up vendor price tolerances by group, first create vendor price tolerance groups and then assign each vendor to the appropriate group. For example, set up two vendor price tolerance groups: 10 percent and 5 percent.

Follow these steps to set up price tolerance information for vendors.

1. Click Accounts payable, click Setup, click Price/Discount, and then click Vendor price tolerance groups.

2. Press CTRL+N to create a new vendor price tolerance group. 3. Enter an identifier and a name for the vendor price tolerance group. 4. Repeat steps 2 and 3 for the remaining vendor price tolerance

groups. 5. Click Accounts payable, and then click Vendor Details. 6. Select a vendor. 7. On the Setup tab, select a Vendor price tolerance group. 8. Repeat steps 6 and 7 for the remaining vendors.

Price Tolerance Setup

Set up price tolerance percentages for your company, items, and vendors. When the system compares vendor invoices with purchase order information, it searches for the applicable price tolerance percentage in the following order.

Item code Account code Table Table

Table Group

Table All

Group Table

Group Group

Group All

All Table

All Group

All All



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The default company price tolerance is zero percent and it applies to all items and all accounts (All, All). You cannot delete the default company price tolerance record.

For example, you can set up the following price tolerance percentage records.

Item code

Item relation

Account code

Account relation

Price tolerance percentage

Notes

All All 1% This percentage applies to all items and all vendors, unless one of the other scenarios applies. This is the company price tolerance percentage.

Table Battery All 1% This percentage applies to the Battery item from all vendors.

Group Low All 2% This percentage applies to all items whose item value model group has the “Low” item price tolerance group assigned to their item value model groups, and all vendors.

Group Medium All 6%



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Item code

Item relation

Account code Account

relation

Price tolerance percentage

Notes

Group High All 15%

All Group 5 percent 5%

All Group 10 percent

10% This percentage applies to vendors who are assigned to the “10 percent” group, and All items.

Procedure: Set Up Price Tolerance

Follow these steps to set up price tolerance.

1. Click Accounts payable, click Setup, click Price/Discount, and then click Price tolerance setup.

2. In the first row, you can change the default company price tolerance. 3. Press CTRL+N to create a new price tolerance percentage. 4. Enter information about the item and vendor combination that the

price tolerance applies to, and the price tolerance percentage. 5. Repeat steps 3 and 4 for the remaining price tolerance percentages.

NOTE: You cannot enter negative price tolerance percentages. By default, Microsoft Dynamics AX 2009 allows negative price discrepancies. To track negative price tolerance percentages, select If line prices are greater than or less than allowed tolerance in the Display price match icon field in the Accounts payable parameters form.



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Test Your Knowledge

Invoice matching is the process of matching information from what documents? (Select all that apply.)

( ) Purchase Order ( ) Vendor Invoice ( ) Packing Slip ( ) Vendor Checks

Edit Open Transactions Use the Open transactions editing form to make changes in transactions for vendors or customers. Only unapplied transactions are available for editing. Use the Open transaction editing form, for example, to settle invoices and payments that are unsettled in the payment journal.

When you settle invoices and payments:

If Then The amount paid is greater than the amount due

The invoice is settled and a payment transaction is created for the amount by which the payment exceeded the amount due

The amount paid is less than the amount due

The payment is subtracted from the amount due and the invoice remains open

The amount paid equals the amount due

A payment transaction is generated for the payment amount, and the transaction is closed.

Procedure: Settle Invoices and Payments

Follow these steps to settle invoices against payments or make corrections to open transactions.

1. Click Vendor Details. 2. Select a vendor record. 3. Click the Functions button, and then click Open transaction

editing. 4. Select the relevant postings to settle.



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NOTE: In the Is marked field, a red icon appears if a transaction is already selected for settlement.

When the transactions are settled they disappear from this form and can be found on the Closed-transaction editing form.

5. Place the pointer on the primary payment line, if any, and select the

Primary payment check box. The purpose of a primary payment is to get a more correct history or select the basis currency used for cross rate.

6. Click Update. The selected vouchers offset each other. If a voucher is not settled in full, it is recorded as Open.

FIGURE 9.10 OPEN TRANSACTION EDITING FORM

Procedure: Enable Automatic Settlement

In some cases, it is more convenient to use automatic settlement of invoices and payments, for example, if a company must handle many small vendors with few payments. Follow these steps to enable automatic settlement.

1. Click Accounts payable, click Setup, and then click Posting profiles.

2. Select the relevant vendor posting profile. 3. Click the Table restrictions tab. 4. Select the Settlement check box.



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Test Your Knowledge

In the Is marked field, a red icon appears if a transaction already is selected for settlement.

( ) True ( ) False

Reverse a Closed Transaction When you work with reverse settlements:

• Use the Closed-transaction editing form to edit fully applied or settled transactions that are in history.

• Use reverse settlements if the bank does not honor a payment or if you use the wrong date or settlement amount.

• Note that a settlement is not a transaction, but it is a link between the payment and the invoice.

• Note that the system considers an unsettled invoice unpaid.

Scenario

Phyllis, the Accounting Manager at Contoso, reviews and approves the Accounts Payable transactions. Phyllis realizes that a consulting fee was paid twice and she wants to reverse the settlement.

Procedure: Reverse a Closed Transaction

Follow these steps to reverse a closed transaction.

1. Click Accounts payable, and then click Vendor Details. 2. Select a vendor record. 3. Click the Functions button, and then click Closed-transaction

editing. 4. Select the Mark check box to reverse the invoice or payment that is

associated with the settlement. The Mark field of the transaction that offsets the transaction marked is selected automatically.



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5. Click the Reverse button. The system changes the settlement amount, makes corrections, and changes the status. History displays an overview of settlements for the current voucher.

FIGURE 9.11 CLOSED TRANSACTION EDITING FORM

Test Your Knowledge

For what is the closed transactions editing functionality used?(Select all that apply.)

( ) Editing settlements ( ) Reversing settlements not honored by the bank ( ) Reversing settlements with incorrect information, such as dates ( ) Editing fully applied or settled transactions



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Lab 9.5 - Reverse a Closed Transaction Scenario

April, the Accounts Payable Clerk at Contoso, realizes the last transaction posted for vendor account 5001 should have been posted to vendor account 2001. She must reverse the transaction and check history to ensure she reverses the transaction. She then will make a note to enter the transaction correctly in the morning.

Challenge Yourself!

Help April reverse the transaction and check history to ensure she reversed it correctly.

Need a Little Help?

You can reverse closed transactions by using the closed transaction editing function.

Step by Step

1. Click Accounts payable, and then click Vendor Details. 2. Click Vendor account 5001. 3. Click the Functions button, and then click Closed transaction

editing. 4. Click the last line in the form. 5. Select the Marked check box. 6. Click the Reverse button. 7. Click the Inquiry button, and then click History to view the

reversed transactions.



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Print Management You can define print management original records, copy records, and conditional settings at the module, account, or transaction level. You can control various activities that include the following:

• Number of copies to produce • Multilingual document footer text • Print destination

How Print Management Works

When you are printing documents such as invoices or packing lists, use defined settings for the original or copy records in print management. The effective records are the records established in Print management that control the printed output of original and copy records. An original or copy record contains the information that print management uses to print the document. The record that is used to print a document determines the footer text for the document, the printer to use, and how many copies to print. For example, to print three copies of the sales order packing slip, each with different footer text, set up an original record and two copy records.

You can define the print management setup information for each document type in a hierarchical list that consists of modules, accounts, and transactions. At each level of the hierarchy, define print management original records, copy records, and settings for any of the available document types.

When a document generates, it prints according to the effective original record and effective copy records. An effective record can inherit information from a higher level in the hierarchy or create a new record for the current level in the hierarchy, or it can override an inherited record that has the same name.

Each original record or copy record can associate with a default setting that specifies the footer text, printer destination, and number of identical copies to print. If the Default setting check box in the Print management setup form is selected, a document prints according to the specifications for the default setting. If this field is not selected, a document prints only if a query for an associated conditional setting successfully returns results.

Each original record or copy record can have up to 19 conditional settings associated with it. Each conditional setting has a related query. For example, you can create a query to print footer text in a different language for a specific vendor. When the document generates during posting, the queries that associate with the conditional settings are evaluated automatically in the order in which the settings appear in the Print Management setup form. The setting that associates with the first successful query is used to print the document.



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Procedure: Print Management at the Module Level

You can define print management settings for each module, account, transaction, or any combination of these three. You can create up to 99 original or copy records for every document type. You can create up to 19 conditional settings for each original or copy record, in addition to the default setting.

Setting up print management at the module level requires the least amount of setup and minimizes the maintenance work when settings change, such as installation of a new printer. However, if business needs require, settings for specific accounts or individual transactions can override module settings.

NOTE: You can use print management settings when you reprint documents. Select Preview/Print > Use print management to reprint a document that uses the effective print management settings.

Procedure: Set Up Print Management

Follow these steps to set up print management at the module level.

1. Click Accounts Payable, click Setup, click Forms, and then click Form Setup.

2. Click the Print management button. The hierarchical list in the left pane displays the module, documents, original or copy records, and conditional settings. The fields in the right pane are the options that you can specify for each type of record. The displayed fields vary, depending on the selected record. When the hierarchy list is unexpanded, a plus (+) icon in front of the document type indicates that a setup record exists.

3. To create a new record, right-click a document name and select New. A new original or copy record is created and is displayed in the list automatically.

4. In the right pane in the Original/copy field, select to create an original or copy record. You can create only one original record for each document, but you can create multiple copy records for each document.

5. If you are creating a copy, enter a name in the Name field. 6. If the Do not print check box is selected, the original or copy will

not print. If there is an override of an original or copy record from a higher level in the print management hierarchy, use this option to stop a document from printing instead of only changing the destination, number of copies, or footer text.

7. If the Default setting check box is selected, the original or copy prints even if the queries for any applicable conditional settings do not return any results. The original or copy is denoted in the hierarchical list by the word Default.



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8. By default, the document goes to the printer destination that you specify by clicking Printer setup from the posting form for the document. To change the printer destination, click the Destination field's lookup button > Printer setup and select a destination.

9. When you finish making changes, click OK to return to the Print management setup form.

10. In the Number of copies field, enter the number of identical copies to print, up to 99 copies.

11. In the Footer text field, enter up to 50 characters to include at the bottom of the document. To print footer text in other languages, click the Footer text lookup button and set up footer text for the additional languages.

FIGURE 9.12 PRINT MANAGEMENT SETUP FORM

Scenario

Alicia, the Purchasing Agent at Contoso, is entering a purchase order for a new vendor. Because this is her first time buying from the vendor, the terms are cash on delivery. She must enter the order with the vendor's payment terms so that she receives the material on time.

To speed up establishing an open account with the vendor, Alicia sets up a document copy for the purchase order. She enters “New Vendor - need credit established” as the footer and sets the print destination to the printer that belongs to Connie, the Credit and Collections Manager. She also enters a note that will print on Connie's copy explaining how much business they plan on doing with the vendor. This information will help Connie determine how much credit to request from the vendor.

Alicia posts and prints the purchase order which prints a copy to Connie's printer.



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Procedure: Set Up Print Management for an Account

Follow these steps to set up print management for a specific vendor account.

1. Click Accounts payable, and then click Vendors. 2. Select an account. 3. Click Setup, and then click Print management. 4. In the left pane, expand the list for a document that is listed under the

customer or vendor account. Any original or copy records display. An icon with a blue arrow indicates that the original or copy record inherits information from the module level of the hierarchy. This print management information is used for the customer or vendor, unless you perform an override to make changes at the account level.

5. Review the original or copy record information. If changes are necessary, override the inherited record, copy an inherited record, create a new record, or create a new setting. o To override, right-click an original or copy record and select

Override. The icon changes to display a red X to indicate that the record is now an override record.

o To copy, right-click an original or copy record and select Copy. A copy displays in the list. The copy must have a new name.

o To create a new original or copy record, right-click a document type in the list and select New. A new record displays in the list.

o To create a new conditional setting, right-click an original or copy record and select New. A new conditional setting displays in the list. The conditional setting must have a description and select query information.

Procedure: Set Up Print Management for a Transaction

Set up print management original or copy records and conditional settings for a transaction, such as a purchase order. This may be necessary if you use a different printer for a specific transaction.

Refer to the following table for the complete list of documents supported in Accounts Payable and the path that gives access to the print management setup for each document.

Document Path Purchase order Purchase order invoice Purchase order packing slip Purchase order receipts list

Accounts payable > Purchase order > Advanced > Setup > Print management

Request for quote Accounts payable > Request for Quote > Setup > Print management



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Document Path

Request for quote - Accept Request for quote - Reject Request for quote - Return

Accounts payable > Periodic > Request for Quote > RFQ reply > Setup > Print management

1. In the left pane of the Print management setup form, expand the list of documents. Any original or copy records display.

2. Review the original or copy record information. If changes are necessary, override or copy an inherited record, or create a new record or a new conditional setting. o To override, right-click an original or copy record and select

Override. The icon changes to display a red X to indicate that the record is now an override record.

o To copy, right-click an original or copy record and select Copy. A copy displays in the list. The copy must have a new name.

o To create a new original or copy record, right-click a document in the list and select New. A new record displays in the list.

o To create a new conditional setting, right-click an original or copy record in the list and select New. A new conditional setting displays in the list. The conditional setting must have a description, and you must select query information.

Conditional Print Management Settings

Customize the document output by using conditional settings that apply based on the results of a query.

NOTE: Although conditional settings and queries provide flexibility in the print management settings, be aware that complex queries or many conditional settings can affect posting performance.

Procedure: Set Up Conditional Print Management Settings

Follow these steps to create a conditional print management setting.

1. In the left pane of the Print management setup form, right-click an original or copy record and select New.

2. Enter a Description for a conditional setting. 3. Click the Select button. 4. In the Query - Setting form, enter query information in the Criteria

field. 5. When the query is complete, click OK.



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Test Your Knowledge

1. How are print management settings defined?

( ) for each module ( ) for each account ( ) for each transaction ( ) for each module, account, transaction, or any combination of these

three.

2. Which of the following activities are uncontrollable with print management settings?

( ) Number of copies to produce ( ) Page orientation ( ) Multilingual document footer text ( ) Print destination



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Summary Microsoft Dynamics AX 2009 offers several important features for managing Accounts Payable. For example:

• Several options for recording vendor invoices including a two-step posting for separate handling of approved and unapproved invoices, and the option to match vendor invoices to physical deliveries of goods.

• Payment proposals.

Microsoft Dynamics AX 2009 enhances the preferred procedures for handling financial interactions with both simple and advanced options. If you record invoices for every date, do so in the invoice pools. Record approved invoices directly in the invoice journal.



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Test Your Knowledge Test your knowledge with the following questions.

1. What are the different invoices available in Microsoft Dynamics AX 2009? (Select all that apply.)

( ) Invoice register ( ) Invoice approval journal ( ) Invoice journal ( ) Invoice pool excluding posting

2. What does validation do? (Select all that apply.)

( ) Ensures that everything is correct prior to posting. ( ) Ensures that you have selected the correct vendor. ( ) Verifies that the journal balances. ( ) Verifies that all mandatory fields are filled in.

3. How do you create payment lines in the payment journal? (Select all that apply.)

( ) Manual payment journal ( ) Payment transfer ( ) Settlement ( ) Payment proposal



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Quick Interaction: Lessons Learned Take a moment and write down three key points you have learned from this chapter:

1.

2.

3.



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Solutions Invoice Approval Journal

Test Your Knowledge

After you post the lines of the invoice register, the postings display in the payment proposal.

( ) True (•) False

Invoice Pool Excluding Posting

Test Your Knowledge

You can use the invoice pool to view registered invoices that are ready for posting.

(•) True ( ) False

Invoice Journal

Test Your Knowledge

You must validate the journal before you post.

( ) True (•) False

Voucher Template

Test Your Knowledge

Which voucher template type lets users re-create a voucher for the same accounts and values as the original entry?

( ) Percent ( ) Division ( ) Aggregate (•) Amount



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Invoice Matching

Test Your Knowledge

Invoice matching is the process of matching information from what documents? (Select all that apply.)

(√) Purchase Order (√) Vendor Invoice (√) Packing Slip ( ) Vendor Checks

Edit Open Transactions

Test Your Knowledge

In the Is marked field, a red icon appears if a transaction already is selected for settlement.

(•) True ( ) False

Reverse a Closed Transaction

Test Your Knowledge

For what is the closed transactions editing functionality used? (Select all that apply.)

( ) Editing settlements (√) Reversing settlements not honored by the bank (√) Reversing settlements with incorrect information, such as dates (√) Editing fully applied or settled transactions



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Print Management

Test Your Knowledge

How are print management settings defined?

( ) for each module ( ) for each account ( ) for each transaction (•) for each module, account, transaction, or any combination of these

three.

Which of the following activities are uncontrollable with print management settings?

( ) Number of copies to produce (•) Page orientation ( ) Multilingual document footer text ( ) Print destination

Test Your Knowledge

1. What are the different invoices available in Microsoft Dynamics AX 2009? (Select all that apply.)

(√) Invoice register (√) Invoice approval journal (√) Invoice journal (√) Invoice pool excluding posting

2. What does validation do? (Select all that apply.)

(√) Ensures that everything is correct prior to posting. ( ) Ensures that you have selected the correct vendor. (√) Verifies that the journal balances. (√) Verifies that all mandatory fields are filled in.

3. How do you create payment lines in the payment journal? (Select all that apply.)

(√) Manual payment journal ( ) Payment transfer (√) Settlement (√) Payment proposal


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