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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / Net AR/AP Transact...
Microsoft Dynamics GP (Archived)

Net AR/AP Transactions

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Posted on by mquez 390

In working with our collections agency we received a net payment.  Meaning we owed them a commission on some accounts that sent thier payment directly to us and we were owed the balance (after commission) of a payment that was sent to them.  How should this be entered into GP since we should really be recording both the full invoice to them and recovery from the customer?

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  • Richard Whaley Profile Picture
    Richard Whaley 25,195 on at
    Re: Net AR/AP Transactions

    First, yes, enter the payables voucher and the receivables invoice if these are not already in the system.  The next steps depend on the software license/modules you own.

    There is a transaction called Customer/Vendor Transactions.  If you own a BRL-AM license, you should have this function and may need to configure it.  Using that transaction, you match a customer record to a vendor record and then net out payables vouchers against receivables vouchers, leaving the appropriate balance. 

    Without that transaction, you would make an appropriate debit and credit memo to the vendor side and customer side to move one balance to the other side, either leaving a payable or recievable depending on the balance.  The Customer/Vendor Transaction does exactly this but makes the process easier for you.

    These kinds of transactions are covered in our book Confessions of a Dynamics GP Consultant.  You may want to check out our web site and get a copy.

  • mquez Profile Picture
    mquez 390 on at
    Re: Re: Net AR/AP Transactions

    Thanks Richard.  I not sure what a BRL-AM license is, so I doubt I have one of those.  However, I was able to make it all work with debit and credit memos.  It was not fun, but it all worked.  Thanks.

  • Richard Whaley Profile Picture
    Richard Whaley 25,195 on at
    Re: Re: Re: Net AR/AP Transactions

    BRL-AM = Business Ready Licensing -- Advanced Mangement

     Currently, GP is sold in two bundles, Business Essentials (BE) and Advanced Mangement (AM).  With these bundles you get a wide variety of modules usefull in many buisnesses.  If you purchased GP prior to the offering of these bundles, you can upgrade for a small fee and get lots of fun stuff like the ones I mentioned above.

  • Richard Whaley Profile Picture
    Richard Whaley 25,195 on at
    Re: Re: Net AR/AP Transactions

    Mr. Mariano:

     What does receivables factoring and Fixed Assets have to do with this man's questions????

     

     

  • Richard Whaley Profile Picture
    Richard Whaley 25,195 on at
    Re: Re: Re: Re: Net AR/AP Transactions

    That would take decades.....

     If your article title does not suggest how it applies to the question, take a moment and explain the reference.   That's all.

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