Archive

Posts Tagged ‘Dynamics AX Automatic Settlement of Invoice’

How to create Cash Sales in Microsoft Dynamics AX 2009

April 15th, 2010 Craig Griffith No comments

Very often customers need to record a cash sale where you don’t want the customer balance to increase when you post the sale as you are recording both the sale and the payment at the same time. Microsoft Dynamics AX ERP has a very elegant but not-so-well-known solution for this. When you post a sales invoice, Dynamics AX can automatically also post the payment and settle it against the invoice. Therefore, two transactions the invoice and the payment are posted when you post the invoice. Below are the detailed steps to do this in Dynamics AX.

“Cash” sales may be created in both Free Text and Sales Order. This method bypasses the second step of creating a payment journal and settling it against the original invoice. With a cash sale, AX automatically creates the payment journal and settles it against the invoice.

Here are the steps to setup and use cash sales in AX:

  1. Setup a method of payment as “Cash”

    Method of payment form

    Figure 1 Method of payment form

    • Set the Posting Account Type as Bank and select the bank account

      Assign a Payment Journal ID to the Method of payment

      Figure 2 Assign a Payment Journal ID to the Method of payment

    • Select the Payment journal name on the File formats tab.
  2. Create a Free Text Invoice

    Figure 3 Free Text Invoice

    Set the Method of payment to 'Cash' on the Free Text invoice

    Figure 4 Set the Method of payment to ‘Cash’ on the Free Text invoice

    • Set the Method of Payment as Cash on the payment tab

      Enter the Free text line details

      Figure 5 Enter the Free text line details

    • Add the line detail information and post the invoice
  3. Invoice and Payment are generated together during posting

    Posting creates the payment journal

    Figure 6 Posting creates the payment journal

  4. View the Customer transactions to view the settled invoice and payment

    Customer transactions showing invoice and payment journal as settled

    Figure 7 Customer transactions showing invoice and payment journal as settled

This also works for Sales orders

  1. Create a sales order

    Sales order form

    Figure 8 Sales order form

  2. Set the Method of payment as cash on the Prices discount tab

    Method of payment as cash on the Prices discount tab

  3. Set the item and post the invoice

    Adding Method of payment to the Sales order

    Figure 9 Adding Method of payment to the Sales order

    Invoice Posting message

    Figure 10 Invoice Posting message

  4. View the customer transactions

    Customer transactions showing invoice and payment journal as<br /><br /><br /><br /><br /> settled

    Figure 11 Customer transactions showing invoice and payment journal as settled

This post is written by Craig Griffith. Craig 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