Ax2012 Enus Fini 09 Accounts Payable Setup

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Ax2012 Enus Fini 09 Accounts Payable Setup
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  Chapter 9: Accounts Payable Setup 9-1 CHAPTER 9: ACCOUNTS PAYABLE SETUP Objectives The objectives are: ã   Create a payment schedule. ã   Create terms of payment. ã   Create a payment day. ã   Set up a cash discount. ã   Create a payment fee. ã   Create a method of payment. ã   Set up vendor groups. ã   Set up posting profiles. ã   Create a new vendor. 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. Microsoft Dynamics AX offers extensive functionality for setting up different vendor payment options. These global payment options are used in the Accounts Payable and Accounts Receivable modules, and include the following: ã   Payment schedules ã   Payment days ã   Terms of payment ã   Cash discounts ã   Methods of payment ã   Payment fees This course also explains the vendor setup for efficient management of vendors and vendor transactions.  Financials I in Microsoft Dynamics ®  AX 2012 9-2 Payment Schedule Use payment schedules to pay invoices in installments. Define the following to set up a payment schedule: ã    Number of installments ã   Amount of each installment ã   Due date of each installment A payment schedule consists of consecutive payments in set time intervals. The  payments can be a: ã   A set amount ã   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. Procedure: Create a Payment Schedule Perform the following to create a payment schedule: 1.   To access the Payment schedules  form, click Accounts payable , click Setup , click   Payment , and then click Payment schedules . 2.   Click the New  button to enter a new record. 3.   Enter a name to be used as identification of the payment schedule in the Payment schedule  field. 4.   Enter a description in the Description  field. 5.   Click the General  FastTab. 6.   In the Allocation  list, select an allocation method: o   Total - total amount outstanding on the invoice due. o   Fixed amount - a specific, fixed amount is due for each payment on the specified payment dates. o   Fixed quantity -  payment of the total amount is divided into a fixed quantity of payments. o   Specified - a specified amount is due on each specified payment date. If Specified is selected, the payment schedules and amounts must be defined on the Payment   lines  FastTab.  Chapter 9: Accounts Payable Setup 9-3 Depending on the value selected in the Allocation  list, different fields are enabled on the General  and Payment lines  FastTabs. FIGURE 9.1 PAYMENT SCHEDULES FORM Procedure: Create a Total Payment Schedule If Total  is selected in the Allocation  list, no other fields are enabled on the General  FastTab. Procedure: Create a Specified Payment Schedule If the Specified option is selected in the Allocation  list, Perform the following to complete the payment schedule setup: 1.   From the Payment schedules  form, click the General  FastTab, in the Payment per  list, select the date interval in Days , Months , or Years . The system uses this information when it calculates the due date of each installment. 2.   Use the  Sales tax allocation  list to distribute the sales tax amount to the payment schedule installments. 3.   Click the Payment lines FastTab to define the line information for the payment schedule, to designate how many different payments there should be, and to divide how much of the total should be paid in each payment. 4.   Enter the time interval for each installment in the Quantity  field. 5.   Enter the value of the installment in the Amount in transaction currency  field. Enter either the value of the installment as a  percentage of the amount invoiced or as an absolute amount, depending on the value in the Percentage/Amount  field. 6.   Select whether the value entered is a percent or an absolute amount in the Percentage/Amount  list.  Financials I in Microsoft Dynamics ®  AX 2012 9-4 Procedure: Create a Fixed Amount or Quantity Payment Schedule If Fixed amount or Fixed quantity is selected in the Allocation  list, Perform the following to complete the payment schedule setup. 1.   From the Payment schedules  form, on the General  FastTab, in the Payment per  list, select the date interval in Days , Months , or Years.  The system uses this information when it calculates the due date of each installment. 2.   In the Change  field, enter the number of units related to the payment  per value between the due dates of each installment. 3.   If the Allocation field is set to fixed quantity, enter the fixed number of installments in the Number of payments  field. 4.   If the Allocation  field is set to fixed amount, enter the fixed amount in the Amount currency  field. 5.   In the Minimum  field, enter the minimum installment amount. Minimum amounts override calculated payment amounts. 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. Specify terms of payment for each of the following: ã   Vendor in the Vendors  form. ã   Customer in the Customers form. ã   Purchase order in the Purchase order  form. ã   Sales order in the  Sales order  form. 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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