I got the requirement from many Clients that they want to manage Fixed Deposits / Terms Deposits in D365 Finance and Operations.
I created a workaround using Fixed Asset Module. Please provide your comments (in favour or disagreement) with this approach.
Master's that need to be created: -
Fixed Asset Group
Fixed Asset Posting Profile
Only following transaction types can be used: -
1. Acquisition
2. Acquisition Adjustment
3. Disposal
User can record the transactions as follow: -
1. Initial Deposit Creation with Bank --> Acquisition --> Daily Journal (Journal Control Fixed Asset and Bank) Fixed Asset Dr Bank Cr.
2. Interest --> Acquisition Adjustment --> Daily Journal Fixed Asset Dr Bank Cr.
3. Closing of Term Deposit --> Disposal Sales --> In Posting profile we mention only the Bank account.
Why daily Journal
We can also leverage functionality of Bank Transaction Type using Interest as type and we can also use payment reference.
As I found these fields available when using daily journal.
Customization can also be made possible. we can capture interest rate and compounding methods to create an interest proposal.
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