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Introduction
This course describes the different Accounts Payable setup options in Microsoft
Dynamics AX. It shows setup procedures and defaults used throughout the
Accounts Payable module. This course explains topics such as payment options,
vendor setup and posting profiles.
Payment schedules
Payment days
Terms of payment
Cash discounts
Methods of payment
Payment fees
This course also explains the vendor setup for efficient management of vendors
and vendor transactions.
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Payment Schedule
Use payment schedules to pay invoices in installments. Define the following to
set up a payment schedule:
Number of installments
Amount of each installment
Due date of each installment
A set amount
A specified number of payments in which the amount owed is
divided to create equal payments
For example, an invoice of 10,000 USD is recorded. It is paid at 2,000 USD each
month until the balance is paid. During this period the invoice is not considered
past due if the scheduled payments are made on time. This is also known as a
finance plan, or contract payments.
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Chapter 9: Accounts Payable Setup
Depending on the value selected in the Allocation list, different fields are
enabled on the General and Payment lines FastTabs.
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Terms of Payment
Use the Terms of payment form to define all the terms of payment used by a
company and the vendors. Use a term of payment for calculation of a due date
based on the date of the invoice.
Scenario
Contoso has a standard vendor payment term of Net 30 days. If an invoice with a
Net 30 payment term ships goods on September 15, and the invoice is dated
November 15, then payment is due December 15. With a Net 30 Days settlement,
Contoso must pay the net due within 30 days of the invoice date, according to the
settlement. After that date, if the payment is not completed, an interest charge of
a specified percent per month may be added to the invoice. Other services
charges may also apply.
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1. Click Accounts payable, click Setup, click Payment, and then click
Terms of payment.
2. Click the New button to create a new record.
3. In the Terms of payment field, enter a code or a short name for the
term of payment.
4. Enter a descriptive name for the current terms of payment in the
Description field.
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6. Select a payment day to be used for calculation of the due date in the
Payment day list. The due date is always rounded up to the nearest
specified date. The payment day can be specified:
o For a specific day in the week
o For a specific day in the month
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Payment Days
Use payment days to define the payment day used for calculating due date. The
due date always is rounded up to the nearest specified date.
1. Click Accounts payable, click Setup, click Payment, and then click
Payment days.
2. Click the New button to create a new record.
3. In the Payment day field, enter a short identification of the payment
day and enter a description of the payment day identification in the
Description field.
4. On the Payment day lines FastTab, click the Add button to add a
new line to the payment day.
5. Select between Week and Month in the Week/Month field. If
Week is selected, enter a value from the Day of Week field, and if
Month is selected, enter in the Day of month field a value between
1 and 31.
Set up the payment day in the Terms of Payment form on the Setup FastTab to
define the payment date used for calculation of the due date.
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Cassie, the Accountant at Contoso, has been asked to set up a new term of
payment for a vendor that Contoso has been slow in paying. The vendor,
Southbridge Insurance Co., now requests that payments are paid in 12 days.
Challenge Yourself!
Help Cassie create the new term of payment titled N012 and assign it to the
vendor.
Step by Step
Create the new term of payment and name it N012.
1. Click Accounts payable, click Setup, click Payment, and then click
Terms of payment.
2. Click the New button.
3. In the Terms of payment field, type N012.
4. In the Description field, type Net 12 days.
5. Click the Setup FastTab.
6. Click the Payment method arrow, and then click Net.
7. In the Days field, type 12.
8. Close the form.
Assign the new term of payment to the vendor Southbridge Insurance Co.
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Chapter 9: Accounts Payable Setup
Cash Discounts
The following information applies to cash discounts:
Scenario
Contoso obtains a cash discount if it pays vendor invoices within certain dates.
Contoso has set up the following codes:
The three cash discounts occur sequentially as the cash discount date nears.
However, only one cash discount is granted.
To specify the cash discounts following the 5D10% code, the 10D5% code is
selected in the Next discount code list. On the 10D5% code, the 14D2% code is
selected in the Next discount code list. Finally, on the 14D2% code the Next
discount code is left blank.
1. Click Accounts payable, click Setup, click Payment, and then click
Cash discounts.
2. Click the New button.
3. Enter an alphanumeric code for the cash discount in the Cash
discount field. For example, enter 7D4 to indicate the company
receives a four percent discount if payment is made seven days
before the due date.
4. Enter a brief description for the cash discount in the Description
field. For example, enter 7 days - 4% Discount for the discount code
7D4.
5. Select the cash discount code used when the criteria for obtaining the
current cash discount is exceeded in the Next discount code list.
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This selection lets you to define a set of cash discounts that are
sequential.
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Payment Fee
Use payment fees to do the following:
Scenario
Contoso electronically transfers invoice amounts (that are due to the vendor) to
its bank. The bank then transfers the money directly into a vendor's designated
banking account. After the invoice amount is transferred, a paper remittance
invoice is sent automatically to each vendor explaining the specific account the
payment is posted to and the amount of the payment issued.
To manage the payment fees from the bank, Contoso decides to set up payment
fees for vendor invoices.
1. Click Accounts payable, click Setup, click Payment, and then click
Payment fee.
2. Click the New button to create a new record.
3. Enter an identification in the Fee ID field.
4. Enter a brief description in the Description field.
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1. From the Payment fee form, click the Payment fee setup button.
2. Select the kind of bank information that is required to start the fee in
the Grouping field. The fee is valid for each field for:
o Table - the bank account selected in the field Bank relation
o Group - the bank group selected in Bank relation
o All - all the bank accounts
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7. Enter the size of the fee in the percentage of the payment or the
amount for one payment in the Fee amount field.
8. Select the currency code for the fee in the Currency field.
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1. From the Payment fee setup form, click the General tab.
2. Enter the minimum transaction amount to enable the fee in the
Minimum field.
3. Enter the maximum transaction amount to enable the fee in the
Maximum field.
4. Enter the date the date interval starts for fee calculation in the From
date field.
5. Enter the ending date for date interval for fee calculation in the To
date field.
6. If the calculated fee is less than the value entered in the Minimum
fee field, it will not be applied.
7. If a financial cost is selected, you can select a Sales tax group and
an Item sales tax group to generate the relevant taxes.
NOTE: If sales tax is calculated, the net amount is posted on a ledger account,
and the sales tax amount is posted on a sales tax account.
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1. From the Payment fee setup form, click the Interval tab.
2. Enter the number of days between the posting date (discounting date)
of the remittance and the due date of the promissory note in the Days
field.
3. Select whether the specification is a percentage or an absolute
amount in the Percentage/Amount field.
4. Enter the size of the fee in percent of the payment or amount for one
payment in the Fee amount field.
Methods of Payment
Many companies offer several methods to pay due invoices, such as the
following:
Credit
Cash in advance
Bill of exchange
Check and electronic payments
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In the Methods of payment form, specify all the methods of payment the
company uses to pay its vendors. For each method of payment, enter information
that states how payments should be summarized and posted.
Vendors
Journals
Purchase orders
1. Click Accounts payable, click Setup, click Payment, and then click
Methods of payment.
2. Click the New button to create a new record.
3. Enter a name for the new method of payment in the Method of
payment field.
4. Select whether the system should total the invoices in an automatic
payment proposal. Options include the following:
o Invoice - creates one payment transfer for each invoice
o Date - combines the payment for all invoices for vendors with
the same due date
o Week - combines all invoices for vendors with a due date within
the same week
o Total - combines all invoices from vendors for the same
payment
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Chapter 9: Accounts Payable Setup
Format Action
Export Specify the format to export payment, for example, a
format promissory note or a check format. The export format tells the
system how to communicate with the bank.
Return Enter a format to return a message from the export format, if
format the bank supports an electronic return file.
Remittance Enter a format for remittance to a specific bank.
format
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NOTE: If the format list is empty, click the Setup button and select from the
available formats.
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April, the Accounts Payable Clerk at Contoso has been asked to set up a new
method of payment called special cash discount (SCD). The SCD was requested
by Lake Electronics, a vendor with whom Contoso collaborates. The vendor has
asked Contoso to pay cash with a special discount, for the next few months to
help them with some accounts receivable shortfalls. Lake Electronics is offering
good terms with a two percent cash discount if the invoice is paid within seven
days and net payment due in 14 days.
Field Value
Payment status None
Account type Bank
Payment account EUR OPER
Bank transaction type 03
Export Format 1 (Test)
Return Retur. Format 1 pr. payment
Challenge Yourself!
Help April set up the method of payment. Attach the new terms of payment and
cash discount to the vendor.
Step by Step
Create a new method of payment called SCD, Special Cash Discount.
1. Click Accounts payable, click Setup, click Payment, and then click
Methods of payment.
2. Click the New button to create a new method of payment.
3. In the Method of payment field, type SCD.
4. Click the Period arrow, and then click Invoice.
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Assign the new method of payment to the vendor. Also assign the N014 Terms of
payment to the vendor, which specifies that the balance is due in 14 days.
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Vendor Groups
Use vendor groups to set up certain information that always defaults when you
enter a new vendor.
For example, use the vendor group to set up automatic posting to General Ledger
accounts for consumption generated by vendor transactions.
In the Vendor groups form, set up vendor groups. You must set up at least one
vendor group, because a vendor group must be specified when you create a new
vendor.
Scenario
Contoso has multiple vendors to monitor. To simplify the management of
vendors, Contoso has set up several vendor groups to do the following:
1. Click Accounts payable, click Setup, click Vendors, and then click
Vendor groups.
2. Click the New button to create a new record.
3. Enter a short name for the vendor group in the Vendor group field.
This name is used throughout the system.
4. Enter the full name of the vendor group in the Description field. The
name acts as additional specification of the vendors included in the
vendor group. To view the name of the vendor in all dialog boxes
that display a vendor group move the pointer over the vendor group
and wait until the name is displayed.
5. Specify a payment term that corresponds to the default time interval
between the purchase of an item and the invoice due date in the
Terms of payment field. Use the Terms of payment list for cash
flow forecasting.
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For example, the payment term is used for vendor payment coverage
based on one purchase budget per vendor group. If a purchase budget
is set up for vendor group X and a purchase of 10,000 USD is
budgeted for June 15, a payment term is specified to correspond to
the current month + 30 days. On this basis, coverage is arranged so
that the budgeted item price of 10,000 USD is due for payment on
July 30.
6. Specify a term of payment that corresponds to the default interval
between the due date and the actual payment time in the Settle
period field. Use the payment terms with vendor payment coverage
based on one purchase budget for each vendor group. Use the Settle
period field in cash flow calculations.
7. Enter or select the default tax group for the selected vendor group in
the Default tax group field.
1. From the Vendor groups form, click the Item posting button.
2. Set up general posting rules for all items, accounts, and sales-tax
codes by selecting one of the following in the Item code field.
o Table - This option is the highest in the hierarchy. By selecting
Table, the posting in ledger only applies to a specific item
number.
o Group - The posting in the ledger only applies to a particular
item group.
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o All - Each transaction is posted for all item numbers in the same
account in the ledger. The first matching account is used for
posting.
Based on the kind of business that you run, decide which accounts you must set
up. The focus of finance is related to consumption and revenue accounts, whereas
the focus of logistics is the issue, receipt, and packing slip accounts.
For example, set up the Primary receipt posting list to prioritize the Item. If
you buy some of item type B-R14 from vendor 3000, which is part of vendor
group 50, the system posts the transaction to account number 510120, because
the item relation is more specific than the account relation.
If the posting is set up as illustrated in the following table, and the Primary
receipt posting list is set to Vendor, and you bought some of item type B-R14
from vendor 3000, the transaction is posted to account number 510100 because
of the Accounts Payable parameter setup.
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Phyllis, the Accounting Manager, has asked April, the Accounts Payable Clerk,
to create a new vendor group. Phyllis will use the vendor group to group vendors
who require Contoso to pay cash on delivery. The new group should be called 83,
and the description should be cash vendor group. After April creates the vendor
group, she must set up automatic posting of receipts to General ledger accounts.
The posting should have the account relation of 80 (other vendors), and post to
account number 211300.
Challenge Yourself!
Help April create a new vendor group that has automatic posting.
Step by Step
Create a new vendor group, which is titled 13 for cash vendors. Assign a cash
terms of payment and COD settle period.
1. Click Accounts payable, click Setup, click Vendors, and then click
Vendor groups.
2. Click the New button to create a new group.
3. In the Vendor group field, type 83.
4. In the Description field, type Cash Vendors for the description.
5. Click the Terms of payment arrow, and then click P007.
6. Click the Settle period arrow, and then click P007.
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All vendors
Groups of vendors
Single vendor
When you post a vendor transaction automatically, the system searches for the
ledger accounts shown in the previous order. Consider the following examples:
A posting profile line exists for the vendor, this line is used.
No posting profile line exists for the vendor, however, the line
specified for the vendor group that the vendor is attached to is used.
Neither of these exists, the posting profile line for all vendors are
used.
In the Vendor posting profiles dialog box, you can set up many vendor posting
profiles. If all vendor transactions are processed together, set up only one posting
profile for all vendors.
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7. Select the Cancel check box to indicate whether you want to be able
to cancel transactions created that have this posting profile.
8. Select the name of any other posting profile to change to when
transactions with this posting profile are closed in the Close list. A
transaction automatically becomes closed when it is settled in full.
1. From the Vendor posting profiles form, click the Setup FastTab.
2. Click the Add button to add a new line.
3. Select an Account code:
o Table
o Group
o All
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5. Select the account number of the ledger account that is used as the
vendor summary account for the vendor(s) to whom the posting
profile relates in the Summary account field.
If you use an invoice register and invoice approval journal, all
vendor invoices recorded as having arrived but not yet approved are
posted in the Arrivals account and the Arrivals offset account. When
these invoices are approved, the debt is transferred to the vendor
summary account. If your company does not use an invoice register
and invoice approval journal, all vendor invoices are updated directly
in the vendor summary account.
6. Select the liquidity ledger account that is used for cash flow forecast.
Cash flow forecast in the Settle account field. For more about Cash
flow forecast refer to the Microsoft Dynamics AX Financials II
course.
7. Select the account used for Sales tax prepayments.
8. Select a ledger account number that is used to make temporary
postings of unapproved vendor invoices, which are updated through
invoice register in the Arrival list.
9. Select in the Offset account list, the ledger account number that is
used for offsetting unapproved vendor invoices, which are updated
through the invoice register. The offset account acts as the offset
account for arrival and contains unapproved vendor purchases.
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Phyllis, the Accounting Manager has asked April, the Accounts Payable Clerk, to
set up a new posting profile for a group of vendors to be paid from a different
cash account than other vendors. Phyllis explained that the profile should be
selected for automatic settlement and should allow for cancellation. The
following details apply:
Field Value
Posting Profile COD
Description Cash on Delivery Profile
Account Code Group
Account/Group Number 80 - Other Vendors
Summary Account 211100
Settle Account 110180
Arrival 211310
Offset Account 211320
Challenge Yourself!
Help April create the new vendor posting profile for group 80.
Step by Step
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Enter as much data as possible when you set up Microsoft Dynamics AX because
the data is used throughout the system for:
Invoices
Payments
Reports
The base data automatically appears as the default for all transactions involving
the vendor.
NOTE: In the Other information section, select the language that is used for all
external documents, such as purchase orders in the Language field. The
language code is mandatory.
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NOTE: To display more fields on the General FastTab, click the Show more
fields button.
1. From the Vendors form, enter the vendor's address and contact
details on the Addresses and Contact information FastTabs.
2. If a vendor has more than one address, such as invoice, delivery,
purchase, alternative delivery address, or SWIFT, enter additional
addresses by clicking the Add button.
3. Additionally, enter address, contact information, and parameters for
access from the Internet. Click the Add button on the Contact
information FastTab.
NOTE: This Area is for non-postal contact information for the vendor
organization. Example: Website URL, additional phones numbers
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6. After selecting a type of vendor hold, select the Release date and
Reason code for the vendor hold in the same drop down menu.
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7. Select a buyer group in the Buyer group list. Your selection creates
links between vendors, employees, and items/planned orders when
you create purchases and productions.
For example, use buyer groups to determine which employees are
associated with the current buyer group and to change the buyer
group if an employee changes an area of responsibility.
8. Select a Customer account number if vendor is also a customer and
used in Intercompany transactions.
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NOTE: If you are using one-time suppliers you must set up a number sequence
for one-time suppliers in the Accounts payable parameters form in the Number
sequence section. In the General section of the Accounts payable parameters
form, select a vendor's account number that can serve as the default template for
one-time suppliers. Information is copied automatically when you create a one-
time supplier in the Vendors form. The system automatically creates a one-time
vendor when a purchase order is created for a one-time supplier. Except for the
vendor number, the one-time supplier inherits all base information from the
vendor number specified in this field. The one-time vendor number sequence
must be specified in the Number sequences form. If you have no one-time
suppliers, leave the Default vendor number blank.
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Contoso has begun working with a new vendor, Dakota Travel. April, the
Accounts Payable Clerk, must set up this new vendor. The following details
apply:
Field Value
Vendor group 80 - other vendors
Credit limit 10,000
Method of payment Check payment - USD
Cash discount 4%D10
Terms of payment N015
Challenge Yourself!
Help April create a new vendor.
Step by Step
Create the new vendor.
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Summary
Payment options in Microsoft Dynamics AX are flexible to accommodate
different business processes. You can do the following with payment options:
Set up the cash discounts as multiple (for example, ten days three
percent and 30 days one percent). You can decide whether you want
special ledger accounts to post.
Set up Microsoft Dynamics AX to manage the cash discount with or
without sales tax to comply with the tax legislation in various
countries.
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2. What elements must be defined to create a payment schedule? (Select all that
apply)
( ) Vendor account
( ) Due date of each installment
( ) Amount of each installment
( ) Number of installments
3. What interval can the payment day can be specified? (Select all that apply)
( ) Specific day in a week
( ) Specific date in a month
( ) Specific day in a year
( ) Specific day in a quarter
5. What are some methods of payment a company might use? (Select all that
apply)
( ) Credit
( ) Cash in advance
( ) Check and electronic payments
( ) Bill of exchange
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1.
2.
3.
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Solutions
Test Your Knowledge
1. A payment schedule consists of which of the following?
( ) Payments
( ) Consecutive time intervals
( ) Consecutive payments
() Consecutive payments in set time intervals
2. What elements must be defined to create a payment schedule? (Select all that
apply)
( ) Vendor account
() Due date of each installment
() Amount of each installment
() Number of installments
3. Outline the steps to setting up a term of payment. Place the following steps in
order.
Step:
4 : Enter a description.
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4. What interval can the payment day can be specified? (Select all that apply)
() Specific day in a week
() Specific date in a month
( ) Specific day in a year
( ) Specific day in a quarter
6. What are some methods of payment a company might use? (Select all that
apply)
() Credit
() Cash in advance
() Check and electronic payments
() Bill of exchange
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