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Archive for November, 2009

Customer check payments in Dynamics AX as a two step process of apply payments and deposit checks

November 21st, 2009 Yogesh Kasat 1 comment

For businesses like Ignify that still receive checks from customer (and we are glad that we do), it is important to differentiate the two elements of receiving a customer payment.

1. Applying the payment to an invoice.

2. Depositing the check.
From an accounting perspective this distinction is important as one reduced the customer balance while keeping the check in the undeposited funds GL account while the second step moves the undeposited check into the deposited state.  These could be two different dates and potentially different periods.  I noticed that several consultants implement customer payments as a single step only mechansmis.

Explaining this further – the GL entry looks like this When check is received
Cr – Customer Receivable
Dr – Undeposited funds

When check is realized after deposit (which could be a few days later and another period)
Cr – Undeposited funds
Dr – Bank Account

Dynamics AX has a nice way of handling this through bridging accounts – however it is not the most intuitive and your consultant needs to know this well hidden feature. .
I've outlined the steps to do this.

 

1. Set up of Bridging accounts

Go to AR > Set up > Payment > Method of Payment

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Create a Method of Payment “Check”.

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Go to General Tab > Posting and select Account type as “Bank” and select the Payment account.

Check “Bridging account” and select Bridging account as “Un deposited Funds” (1130)

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2. Posting AR Payments (When the Check is received but not realized in the Bank)

Go to AR > Journal > Payment Journal

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Create AR Payment Journal Header and Click Lines

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On the Journal line, Select Customer, Invoice Number and the Invoice amount will be populated.

Select Method of Payment as “Check “and enter the Check number in the “Payment reference” field.

The Bridging account “Un deposited Funds” (1130) will be automatically populated upon selection of Method of Payment as “Check “.

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Validate & Post the Journal.

3. Posting of Bridging transactions of AR Payments  (When the Check is realized in the Bank)

Go to GL > Journal > General Journal

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Create a new General Journal line and Click Lines

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On the Journal lines Click Functions > Select Bridged transactions

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Following form will open.

Select the relevant Transaction (the Check amount has been realized) and accept it.

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The Date will be the Date of creating the General Journal.

Credit will automatically be the Bridging account “Un deposited Funds” (1130) and Debit will be the Bank.

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Validate & Post the General journal.

Note:

We can use the past dates in AR Payment Journal as well as in GJ Journal.

If the AR Payment Journal is posted on 9/1/2009, when we accept the Bridging transactions in General Journal, the automatically created journal line with bridging transactions will have the AR Payment journal posted date i.e. 9/1/2009.However we can change this to past date i.e. 9/3/2009 before posting it.

Please refer screenshot below which is created & Posted on 10/13/2009 (AR Payment date 9/1/2009, GJ posting date 9/3/2009):

AR Payment journal line:

12


General Journal line:

 13

Now you have achieved the the two step process of applying a payment to a check and then depositing the check to a separate step. Of course more and more businesses are moving to a single step electronic payment process such as lockbox (where the bank codes the deposits for you) or wire transfers and ACH as has Ignify also.

This post is jointly written by Yogesh Kasat and Partha Chattopadhyay. Yogesh is a Senior Manager and Partha is a Senior Business Analyst in the Microsoft Dynamics AX Practice at Ignify . Ignify is a Global Microsoft Dynamics Inner Circle Partner specializing in Dynamics AX for Retail, Distribution, Manufacturing and Chemicals verticals. For help on Microsoft Dynamics ERP email us at dynamics@ignify.com

Automatic Calculations in MS Dynamics AX

November 9th, 2009 Partha Chattopadhyay No comments

Use AX fields to calculate formulas

We can use formulas in Dynamics AX fields to calculate the end result values desired in the field. I have used a simple example to demonstrate the same. The same method can be applied to any of the fields which accept numerical values.

Let us take an example to explain this.

Suppose we are setting up Item Price and the rule is

Base Cost Price is 50 % more than Base Purchase Price and Base Sales Price is 40% more than the Base Cost Price.

Suppose Base Purchase Price is $ 10.

Enter $ 10 in Inventory Management > Item details > Price/Discount tab > Base Purchase price > Price.

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Go to Base Cost Price > Price and enter the calculation $ 10 + 50/100* ($ 10) (as Base cost Price = Purchase price + 50 % of Purchase price) just like in your calculator.

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Click to any other field and notice Ax calculates the value automatically.

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Go to Base Sales Price > Price and enter the calculation $ 15 + 40/100* ($ 15) (as Base Sales Price = Cost price + 40 % of Cost price) just like in your calculator.

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Click to any other field and notice Ax calculates the value automatically

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This post is written by Yogesh Kasat. Yogesh is a Senior Manager in the Microsoft Dynamics AX Practice at Ignify . Ignify is a Global Microsoft Dynamics Inner Circle Partner specializing in Dynamics AX for Retail, Distribution, Manufacturing and Chemicals verticals. For help on Microsoft Dynamics ERP email us at dynamics@ignify.com

Using “Intertable” Relations in Dynamics AX

November 9th, 2009 Khushhal Garg No comments

In Dynamics AX, development team members use QueryBuildDataSource and QueryBuildRange class fairly frequently. These make it easy to apply relations between different tables and apply ranges on data source. But many developers are not familiar with intertable relations. These allow you to apply an range within the same table on different columns and relate columns within the same table. Here is a code example of the use of an Intertable relations in Dynamics AX

Query q = new Query(); // Initialize query
QueryBuildDataSource qbdsTableA; // Declare variables 
// Add datasource TableA
// Add Range on field1 and TableA.field1 should be greater than TableA.field2
; qbdsTableA= q.addDataSource(tablenum(TableA)); 
qbdsTableA.addRange(fieldNum(TableA,Field1))
    .value(strFmt("%1 > %2" fieldStr(TableA,Field1),fieldStr(TableA,Field2)));