Revisiting payment reversal parameters

Hello there D.M.-azing D365 Community!

We are heading on another week and on another article for Dynamics 365 for Finance and Operations to read and share.

For this article, we will explore and revisit on how the Reversals parameters under Cash and bank module functions and on how it can help us to make a better recommendation for our D365 F&O client.

By default the parameters use review process for payment reversals and use review process for deposit slip payment cancellations are set to No. This means that cancellation or reversal of deposit slips and check payments are automatically posted.

Use review process for deposit slip payment cancellations is set to No.

Use review process for payment reversals is set to No.

Use review process for deposit slip payment cancellations is set to Yes.

Notice that a deposit slip payment reversal journal has been created which is available for review, approval and posting.

Use review process for payment reversals is set to Yes.

Notice that a check reversal journal has been created which is available for review, approval and posting.

Now that we have seen how payment reversal parameters work, the decision on which one should be used depends primarily on the client’s business process.

There are clients who would prefer a faster process and that may involve automatic posting of transactions involving cancellation of deposit slips and reversal of check payments. And most would prefer to have a process that would undergo verification, review and approval.

Just a quick review of payment reversal parameters for now. I hope that you find this article as a helpful tool for you to better appreciate and understand, everything and anything, about Microsoft Dynamics 365 for Finance and Operations.

It will truly be a privilege if you will allow me to know your thoughts and suggestions for me to further improve the coming featured articles on our blog.

This is Ms. Dynamic Millennial blog. Be equipped. Be informed.

For more related articles, kindly click the below links: https://msdynamicmillennial.wordpress.com or https://community.dynamics.com/365/financeandoperations/b/ms-dynamic-millennial.