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 […]
There are many inventory model options available in Ax. Companies select inventory model of their choice based on their business nature. Let’s have a look on available inventory models in Ax and their meaning; In the following example, we can understand how […]
In previous blogs, we have seen how to use following Summary update options for sales order invoice posting; Automatic Summary, Invoice account, Order The same process goes with Purchase order posting, though for PO invoice posting, this feature is not available at PO invoicing form and it follows a different […]
Ax 2012 has introduced a major change in the accounting framework for recording the purchase receipts & Invoices. In Ax 2012 the system provides 2 new accounts Purchase expenditure, un-invoiced & Purchase expenditure for product. Purchase expenditure, un-invoiced – This has been introduced as a control account to offset main […]
This feature is available when we confirm, post a packing slip or invoice a SO/PO. The use of this feature is to summarize all selected orders according to the criteria that is set in the Summary update parameters form, but only if summary updating is specified in the Summary update form. If not, […]