Breaking news from around the world
Get the Bing + MSN extension
Now Available in Community - MBAS 2019 Presentation Videos
Catch the most popular sessions on demand and learn how Dynamics 365, Power BI, PowerApps, Microsoft Flow, and Excel are powering major transformations around the globe. | View Gallery
2019 release wave 2 Discover the latest updates to Dynamics 365Release overview guides and videos Release Plan | Early Access Availability
Ace your Dynamics 365 deployment with packaged services delivered by expert consultants. | Explore service offerings
Connect with the ISV success team on the latest roadmap, developer tool for AppSource certification, and ISV community engagements | ISV self-service portal
The FastTrack program is designed to help you accelerate your Dynamics 365 deployment with confidence.
FastTrack Program | Finance TechTalks | Customer Engagement TechTalks | Talent TechTalks | Upcoming TechTalks
New legislation came into effect on April 1st of this year for businesses of a certain size in the UK with a duty to report on their payment practices, policies and performance. This new requirement was introduced to protect smaller businesses that suffer from late payments, which can adversely affect their cash flow and jeopardize their ability to trade. Companies that fall into a certain criteria for reporting will be required to publish information publicly about their payment terms to suppliers for a financial year. In order to meet these requirements, a new field was needed to record the actual date that the invoice was physically received in your office.
Many of you have been able to utilize the User Defined fields in a majority of Dynamics GP windows to track this date, however, you were not able to do this in Payables Management. Due to your feedback, we have added the new date field to allow users to track the date the invoice was received where they need to.
A new field named Invoice Receipt Date was added to the 2017 Mid-Year update for Microsoft Dynamics GP 2013, Microsoft Dynamics GP 2015, and Microsoft Dynamics GP 2016. This new date field is available in the following windows:
•Payables Transaction Entry (Transactions >> Purchasing >> Transaction Entry)
•Receivings Transaction Entry (Transactions >> Purchasing >> Receivings Transaction Entry )
•Purchasing Invoice Entry (Transactions >> Purchasing >> Enter/Match Invoices)
Note: This new Invoice Receipt Date field is available in Microsoft Dynamics GP installations for United Kingdom (UK) installations only. Therefore, it is not available on a U.S. or Canada installation as an example.
The Invoice Receipt Date is stored in the InvoiceReceiptDate column in the following tables:
• PM10000 – PM_Transaction_WORK
• PM20000 – PM_Transaction_OPEN
• PM30200 – PM_Paid_Transaction_HIST
• POP10300 - POP_Receipt
• POP30300 – POP_ReceiptHist
The InvoiceReceiptDate field is populated in the above tables by default with the Microsoft Dynamics GP User date for all 'invoice' type documents, but the user is free to modify it at time of entry. The field is not available for non-invoice type documents.
***Important Note:*** If you install this mid-year update and start to use the new field (InvoiceReceiptDate), you cannot upgrade until the '2017 Year-End Update' patch has released (November 2017), so the data in this field is retained.
You will need to extract the data from Microsoft Dynamics GP, and input it into the web-based government portal, which is available to the public. For more information on thresholds, reporting and guidance in general, refer to the Duty to Report on Payment Practices and Performance guide published by the UK Department for Business, Energy & Industrial Strategy.
I hope this new field will be helpful to all UK users in order to comply with this new regulation. For any other suggestions or enhancements you would like to see added in the future, please post your suggestions in MS CONNECT . We encourage you to take the time to enter new suggestions or vote on existing suggestions as well to help voice your opinion on what you'd like to see for future enhancements.
Cheryl WaswickSr. Technical Support EngineerMicrosoft Dynamics GP
Business Applications communities