This feature specially for the staff who are not much into accounts knowledge or not familiar with chart of accounts structure but are into creation of journal entries or helping out the account staff to create journal entries. This feature also helpful for the executives who look for shortcuts of […]
There are 3 types of unit conversion types in Ax 2012; Standard Conversions Intra-Class Conversions Inter-Class Conversions Standard Conversions – Once define the conversion between two units, it is applicable against all products. Thing to remember here that conversion can be defined only within the units belong to same Unit […]
There are scenarios where vendors want to settle their due invoices payment against one payment voucher. To achieve this functionality, system provides a feature in ‘Methods of Payment’ form. Here you have following 4 options against drop down field ‘Period’ in Method of payments form; […]
Before moving ahead let’s understand first what is Realized Profit/Loss. The gain or loss is based on exchange rate fluctuations between the foreign (transaction) currency and the domestic (accounting) currency at the time the payment was received or issued. Take an example where; Company’s accounting currency is USD Purchase order is created and […]
We have seen scenarios when we want to create a new journal but since there is no journal linked with the respective journal, we can not go ahead unless we create a new journal for the same. For example, In my newly created company, I want to create a General […]
Inventory dimensions in Ax 2012 now consist of 3 classifications: Product Dimension Storage Dimension Tracking Dimension Product dimension: can be referred to a dimension group that mainly focuses on the physical attributes of the product; major constituents: Size Color Configuration Since a product (item) is treated as a the lowest […]
To set up recurring free text invoice in ax 2012, refer the following steps; Create a free text invoice template Assign it to one or multiple customers Generate recurring invoice Post recurring invoice Detailed steps: – Navigate to Accounts receivables -> Setup -> Free text invoice templates Assign template […]
Pro forma invoice – A pro forma invoice is an invoice that is prepared as an estimate of the actual invoice amounts before the invoice is posted. You can print a pro forma invoice for either a customer invoice for a sales order or for a free text invoice. […]
Vendor Prepayment is a scenario where the organization agrees to pay certain/full amount of purchases in advance to the vendor. In Ax 2012, Prepayment process is as follows: Create a PO Mark the PO a prepayment Post a Prepayment Invoice Post a Payment entry Settle the Payment against the Final […]
There are scenarios in business where payment made by check but later on payment entry to be reversed or cancelled. Refer the following video to see how check payment transaction is cancelled in Ax 2012; Related links, http://dynamicsteaching.com/vendor-payment-by-check-in-ax-2012/ http://dynamicsteaching.com/verifying-transaction-posted-against-check-payment-in-ax-2012/ Happy Learning!
In continuation of the following video where we shown how check payment process works in Ax 2012; http://dynamicsteaching.com/vendor-payment-by-check-in-ax-2012/ Let’s verify posted transactions against the Bank a/c and Vendor a/c; Happy Learning!
Here is a small video of making payment to Vendor by Check; Hope this helped you guys! Happy Learning!
One time vendor concept is used to handle the suppliers with whom we transact once. A Separate sequence is maintained in Ax in order to not mixing them with regular vendors. Refer the setups; Assign a separate number sequence for one time vendors in AP @ Accounts Payable -> Setup -> Accounts […]
If you want to settle open vendor transactions, you can use ‘Settle open transactions’ form. In the following example, we have 2 open transactions against a vendor; 1st, credit transaction with an amount of 150 against an open purchase invoice to be paid 2nd, debit transaction with an amount […]
Payment schedules allow users to define custom rules that govern the payments being maintained in the system. In order to use the payment schedules the users must create payment schedules, attach these schedules to Purchase orders/Invoices. When running the payment proposal for the vendor invoices the system automatically considers the […]