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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / Posting cash receipt i...
Microsoft Dynamics GP (Archived)

Posting cash receipt in AP?

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Posted on by Chris Milledge 35

We have a vendor with a negative balance (e.g. there's a return posted for $1,000, and 2 invoices posted for $100 each, leaving a negative balance of $800). We have sinced terminated our agreement with the vendor, whereby they issued a cheque to settle the balance owed of $800

How do I post the cash so that;

a) The vendors balance returns to $0.00

b) The payment can be allocated

 Any other advice regarding this process would also be appreciated.

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  • Sandip Chudha Profile Picture
    Sandip Chudha 175 on at

    Chris 

    Pretty simple if you have Cashbook module via Transactions > Financial > Banbk Management > Batches  on the batch entry make sure you click on "Deposit"  on the next screen change the "Type" to "AP".

    If you don't have  cashbook then the only other option is post as MISC CHARGE however change the distribution to "Debit" the receiver (i.e. BANK) and "Credit" the giver (i.e. Vendor / Acounts Payable)

     Try both in PRAC first though to see if this is what you want.

    Hope this helps.

    Sandip 

     

     

  • Community Member Profile Picture
    Community Member on at

    If you don’t have cashbook module, other way of doing this  is by voiding the return and re-entering it with check details. 
    1. To void the partially applied return process a fake invoice for $800, apply the remaining balance of the return
    2. Void the return from Void Historical Payables Transactions and then the fake $800 invoice.
    3. Then reenter the Return of $1000, enter the check amount ($800) in the Check field on bottom right side of the window. You can enter the payable check information using the blue arrow button to next to Check field. Apply the remaining $200 invoices on which return was initially applied

    Entering the MISC CHARGE using cash account will update the cash account balance but not the checkbook balance(Checkbook Reconcilation Issue)

     

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