Rent in advance function to be automatically allocate to Rent Revenue in correct period

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Posted on by ReganMitchell

105

Hey guys,

With a previous accounting system we had to charge our customers rent in advance future periods and then it when the period came it would automatically allocate the rent as revenue in the correct period. Accounting would be;

Invoice raised - Debit Rent Debtors, Credit Rent in Advance
Period occurs for the rental period - Debit Rent in Advance, Credit Rent Revenue

The advantage of doing this is so that invoices could be dated and raised before the rent would actually be applied without opening up future periods for AR. Is it possible to do this same function in D365 F&O?

Cheers,

Regan