Question Status

Verified
Gaurav Chandak asked a question on 8 May 2013 2:29 AM

Hi AX Champs,

Can someone help me to map this scenario in AX 2012 R2.

For example; Yearly rent paid in advance for value of AED 12,000

Amount

Prepaid rent A/c

Dr

12,000

Bank A/c

Cr

12,000

Each month recurring entry of this prepayment amount should be posted automatically.

Rent A/c

Dr

1,000

Prepaid rent A/c

Cr

1,000

Thanks in advance,

KInd Regards,

Gaurav Chandak

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Suggested Answer
André Arnaud de Calavon responded on 8 May 2013 2:55 AM

You can use a periodic journal for the monthly amounts. When this is setup, you can retrieve the line in a general journal from the periodic journal and the next date in the periodic journal is updated. Please note that you have to take care of the end date (last  monthly posting) yourself in standard AX. If the yearly amount is recurring this is not that big problem. If the amount changes per year, you can change the periodic amount as well and then continue...

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Gaurav Chandak responded on 8 May 2013 3:01 AM

Hello Andre,

Thanks for the quick reply. I created Perodic journal and crated a line in that. However, i did not found any "post" button over there to post the periodic journal.

Is only i have to create the periodic journal and keep it open and at the given data, system will post monthly expense ? If yes, then where i would be able to see the automatic posted journal.

Thanks in advance,

Kind Regards,

Gaurav

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Verified Answer
André Arnaud de Calavon responded on 8 May 2013 3:25 AM

Hi Gaurav,

As mentioned in my previous reply, you have to use a standard general journal for retrieving the periodic journal lines. There is a function for it. Everytime you retrieve the lines, the date on the periodic journal will be set one month later. You can setup the period interval on or the periodic lines.

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Gaurav Chandak responded on 8 May 2013 3:35 AM

Thanks Andre, Got it ....

Thanks  a lot Genius....

Have a great day ahead,

Kind Regards,

Gaurav Chandak

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Mohit Khanna responded on 9 Aug 2013 1:32 AM

The best option you can use is Ledger Accrual Scheme. In this, you do not required to even post the journal as well. System will post it automatically.

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lally responded on 9 Aug 2013 1:44 AM

Yes , I also agree with Mohit .

@ André Arnaud de Calavon

Can i know why did you suggest the Periodic journal . I think there might some reason if you suggest Periodic journal instead of ledger accrual schemes.

Expecting the reason from your end .

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André Arnaud de Calavon responded on 9 Aug 2013 4:41 AM

Hi Lally,

The ledger accrual can be useful as well. With the periodic journal you have no end date and you can change the amount when needed.

Also the accruals have the requirement that the ledger periods for all future periods do exist and are open for transactions.

If you have the rent paid yearly afterwards, you can better use the periodic journal for the monthly amounts. These figures are needed for monthly reporting.

Certainly, there are scenarios for using the ledger accruals.

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lally responded on 9 Aug 2013 7:13 AM

Thanks Andre for your detail explanation .

Could i know the business scenarios for using the ledger accruals as per your AX implementation experience. ?

Reply
André Arnaud de Calavon responded on 9 Aug 2013 3:01 PM

Hi Lally,

An example:

We have a subscription of a magazine which will be paid in advance per quarter. When posting the invoice you can specify the ledger accruals. Then the costs are spread across the three months of the quarter.

Note that a year and twelf months is also possible.

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AXLearner responded on 18 Dec 2013 8:48 AM

Hello AX Champs,

I have same question, if you don't mind can you forward the previous reply.

Thank you,

AXlearner

Reply
Verified Answer
André Arnaud de Calavon responded on 8 May 2013 3:25 AM

Hi Gaurav,

As mentioned in my previous reply, you have to use a standard general journal for retrieving the periodic journal lines. There is a function for it. Everytime you retrieve the lines, the date on the periodic journal will be set one month later. You can setup the period interval on or the periodic lines.

Reply
Suggested Answer
André Arnaud de Calavon responded on 8 May 2013 2:55 AM

You can use a periodic journal for the monthly amounts. When this is setup, you can retrieve the line in a general journal from the periodic journal and the next date in the periodic journal is updated. Please note that you have to take care of the end date (last  monthly posting) yourself in standard AX. If the yearly amount is recurring this is not that big problem. If the amount changes per year, you can change the periodic amount as well and then continue...

Reply