Payment schedules in Mirosoft Dynamics AX

Payment schedules allow you to define custom rules that govern the payments being maintained in the system. In order to use the payment schedules you must create payment schedules, attach these schedules to Purchase orders and/or Vendor Invoices.

When running the payment proposal for the vendor invoices using invoice journals the system automatically considers the payment schedule at the invoice and suggests the payments accordingly. If you are using Vendor Invoice document at the time of posting the system automatically considers the payment schedule.

To create a Payment Schedule navigate to Accounts Payable à Setup à Payment à Payment Schedule.

In this example I will create 3 types of Payment schedule & see the impact on the payment entries.

When the Payment entries are to be distributed on a monthly basis & based on some %. For instance, 10% in 1st month, 20% in 2nd month, 50% 3rd month and 20% on the 4th month.

In the above setup, the payments are to be made on a monthly basis and on specific percentage.

When creating a Purchase order or Vendor Invoice the payment schedule is defined at the Header. Create a Payment Journal and on the lines select payment proposal

Assuming you choose a proper vendor whom for which you have selected the payment schedule for and there are no other invoices and the total invoice amount is 100 USD the system will propose the Payment entries as below.

When the Payment entries are to be distributed on a monthly basis and on fixed amount

When creating a Purchase order or Vendor Invoice the payment schedule is defined at the Header. Create a Payment Journal and on the lines select payment proposal

Assuming you choose a proper vendor whom for which you have selected the payment schedule for and there are no other invoices and the total invoice amount is 100 USD the system will propose the Payment entries as below.

When the Payment entries are to be allocated on Total

When creating a Purchase order or Vendor Invoice the payment schedule is defined at the Header. Create a Payment Journal and on the lines select payment proposal

Assuming you choose a proper vendor whom for which you have selected the payment schedule for and there are no other invoices and the total invoice amount is 120 USD the system will propose the Payment entries as below.

 

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