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I have a requirement to discuss.
User sometimes receives free services from vendors.
For tracking all the free services, user need to book the expense and then settle 100% discount.
Now user makes payable invoice journal and book the expense and then need to use cash discount functionality in the same invoice journal(for reporting purpose of tracking vendor cash discounts).
Currently, when booking the invoice journal, no discount entry is getting posted. Is there any way to also post the 100% discount when i am posting the invoice journal.
If its not possible, user can make a payment journal and settle the invoice. But the problem is that, settled amount will be zero as it is 100% discount and payment journal will not get posted.
What are the options for 100% cash discount ?
Can you be sure that you will never receive an invoice even in the future? In other words, do you have a kind of confirmation from the vendor that they are not going to charge you later on?
Irrespective of this, I assume that you have an purchase order created for the services ordered/received. Is that right?
If so, why you use an invoice journal and why you have to record a 100% discount in that journal?
Can't you simply post the invoice in the pending vendor invoice form and relate it to the purchase order. When doing that you can enter your 100% discount.
Would be great if you could review those questions and provide some additional information.
So some services are not ordered and done on demand by vendor.
So to reduce the PO cycle, Finance user directly creates an invoice journal with vendor & offset with expense main account.
Now the user need to book cash discount for the same date. So user will put 100% discount code in invoice journal also.
Now this cash discount is only calculated and will not get posted when i post invoice journal. If possible, i want the cash discount to get posted along with invoice journal posting.
Second if not possible, user can create one payment journal and settle the created invoice. Now as debit and credit will come zero. The entry will not be allowed to post. So I am stuck there also.
I have a report with list of VendTransCashDisc entries and user want these amounts to be coming there, showing the amount and original document id.
I don't understand why you create an invoice journal if there is no invoice.
I mean what is the main purpose of this whole process?
To track not invoiced services or ... ?
The purpose is to book the service as maintanence expense from a vendor and same time show as cash discount.
This will give idea of actual maintanence expense we had in the fiscal year and how much we covered through vendor benefits.
Cash discounts are not available this way.
Can't you simply post an invoice line with a positive sign and a second one - on a different P&L account - for the 'discount' that you received?
Doing that would allow you identifying the information how much 'discount' you got.
Before doing that, I would however recommend clarifying this kind of transaction with your auditors. In my home country we might get into difficulties if we do something like this. Don't know the rules in your country, so please check them out first.
Thanks for the feedback.
The idea is good. I need check with auditors.
Even its not using Cash discount functionality, for sake of GL report - it will ok.
Now if I post such an invoice with vendor balance zero, how can i settle the invoice later to clear from open invoices. So that it will not show in vendor open transactions.
One option to get these plus/minus invoices settled would be to do that from the settlement form that you have available from the vendor.
This is, however, not the smartest way in my opinion as this requires a manual selection.
Please try the following:
For those plus/minus invoices specify a criteria for which you can filter later on when you make a vendor payment run.
This filter criteria can be e.g. a new payment method that has a 'dummy account' setup as payment account.
Post the invoices as usual with this criteria.
Once that is done, create a new vendor payment journal and filter for those invoices that add up to $0.00 in total.
This can be achieved by making use of a payment proposal with filters.
Once the lines are selected post the journal.
This will end up in settlements that ensure that the invoices don't come up in other payment run and are closed.
Also the payment account used in the method of payment - the 'dummy account' that I mentioned, will be zero and things should be fine.
Would be great if you could give this a try.
Ludwig Reinhard, thanks for explanation. Talking about all these payments and how they work, and technical issues as well - sometimes it also depends on each specific payment platform and how developers adjusted and developed it's inner components. Talking of that, I've discovered some positive reviews about new payment system called STICPAY ( url: https://sticpay.com ), and people say that it's one of the most reliable payment systems nowadays, which allows to create global e-wallets and make money transfers all around the world. Do you any experience of testing it?
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