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This blog highlights the new functionality in the Dynamics GP 2016 R2 release that makes it easier for the end user to trace credit card payments back to the original vendor/invoice document behind the associated invoice for the credit card vendor.
When a credit card payment is entered in the Dynamics GP Payables Management module, a second invoice is created for the credit card vendor.
Prior to Dynamics GP 2016 R2 there was no visible connection between the two invoices, which made it difficult to trace the original vendor/credit card vendor link via the Payables Transaction Inquiry window without reviewing multiple documents.
Having no official invoice link also caused credit card payments to be displayed as 'Unmatched Transactions' in the 'Reconcile to GL' report.
In this example, a $1,500 invoice is created via the Payables Transaction Entry window (Purchasing | Transactions | Transaction Entry) for 'ACETRAVE0001':
Next, the Payables Manual Payment Entry window (Purchasing | Transactions | Manual Payments) is used to create and apply a manual payment to the Invoice:
This creates a new $1,500 invoice to be paid for the vendor (WOODGROV001) associated to the credit card used for the payment. Prior to Dynamics GP 2016 R2 the invoice displayed as the following in the Payables Transaction Inquiry - Vendor window (Purchasing | Inquiry | Transaction by Vendor):
In the Dynamics GP 2016 R2 release, the inquiry window is displayed as follows (note the Transaction Description field):
In regards to Reconcile to GL functionality the code change also makes this process much more straightforward in reconciling credit card vendor invoices and payments.
Prior to the new release if you performed the routine for PM account with credit card vendors included, the Unmatched Transaction section of the report would display the original invoice only. In the new version you will see the offsetting transactions for the both the original invoice and Credit Card payment included (with the Document Number field referencing the initial invoice for additional reference).
Click HERE for more detailed documentation for Dynamics GP 2016 R2 features. Dynamics GP 2016 R2 feature VIDEO click HERE!
Be sure to check back to the Microsoft Dynamics GP 2016 R2 Feature Blog Series Schedule page to review posted blog articles and upcoming blog posts to help you gear up for What's New in Microsoft Dynamics GP 2016 R2 with great content, documentation, and videos.
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