Microsoft Dynamics GP Payable Management. Series GP 2018

Transcription

1 Microsoft Dynamics GP Payable Management Series GP 2018

2 Contents Course Objectives 7 Payables Management Setup Payables Management Setup Payables Setup Options Creditor Class Maintenance Creditor Class Accounts Setup Creditor Maintenance Creditor Maintenance Options Creditor Address Maintenance Creditor Account Maintenance EFT Creditor Maintenance Creditor Remittance Maintenance Activating EFT Creditor Auditing Options 42 Daily Procedures Introduction Batches Payables Transaction Entry Workflow Payables Management Approval Workflow Document Attachment Scheduled Payments Entry Post Scheduled Payment 74 Entering Payments Introduction Payables Manual Payment Entry 78 2

3 Contents 3.3 Apply to Specific Documents Distribute to Posting Accounts EFT & Chequw Payment Run Build Payment Batch Edit Payment Batch (OPTIONAL) Edit Creditor Payment Print and Post Payments Create EFT file, Print Remittances and Post EFTs Apply Payables Documents Batch Recovery 115 Maintaining Records Introduction Creditor and Transaction Holds Creditor Holds Transaction Holds Void Open Payables Transactions Void Historical Transactions Voiding an EFT Payment that as been reconciled Edit Payables Transaction Change or Delete Creditor Records Change or Delete Creditor Address Records Mass Creditor Delete Creditor Modifier and Combiner Change Creditor Class Information Reconcile 136 Enquiries 138 3

4 Contents 5.1 Introduction Payables Transaction Enquiry - Creditor Purchasing All in One Payables Transaction Enquiry Document Creditor Credit Summary Enquiry Creditor Yearly Summary Enquiry Creditor Period Summary Enquiry Creditor Enquiry Payables Summary Enquiry EFT Payment Enquiry 150 Reports Report Options and Printing Historical Aged Trial Balance Creditor Cheque Register Report Groups Combined Report Groups 162 Period End Procedures Introduction Closing a Period Reconcile to General Ledger Closing Financial Periods Closing the Calendar Year Closing the Financial Year Closing the Tax Year 174 4

5 Contents Payables Management GP2018 Evaluation Form 176 5

6 IMPORTANT This training manual is not a process document but rather a generic training document that helps facilitate Professional Advantage training objectives. Each company using Dynamics will utilize the functionality in a wide variety of ways. Your specific company processes will be discussed during training. Please make notes in this manual so you can refer back to the way your company processes utilise the discussed functionality. This manual should be used alongside the Printable Manuals found under the Dynamics Help Menu. These can be accessed by using ALT-H and selecting Printable Manuals 6

7 Course Objectives Section Objectives Payables Management Setup This course covers the following criteria: Use the setup windows in Payables Management to personalise Payables Management for your organisation Assign default document descriptions, numbers and set other defaults Add Creditor Classes to organise and ease data entry Set up Creditors to track creditor information appropriately for your organisation Set up new creditor records and related information Set additional defaults and selections for a creditor Enter multiple creditor addresses Enter default accounts to use for a creditor Enter EFT Creditor and Remittance Information for creditors and activate audit trail control for new/modified EFT details Daily Procedures Enter batches in Payables Management Enter creditor invoices, credit memos, and other creditor transactions Print a cheque from Payables Transaction Entry Enter, track and process scheduled payment transactions Post individual schedule payments to creditor accounts Entering Payments Enter manual payments and apply them to other documents Pay creditors using computer cheques and/or EFTs Select invoices for payments Edit batches of computer cheques/efts Remove or add a creditor from a computer cheque / EFT batch Remove or add an invoice from a computer cheque / EFT batch Print, post and/or process remittances for a computer cheque / EFT batch Apply payments and credits to invoices or other debit documents Recover from a posting interruption in Payables Management Maintaining Records Place or release Creditor Holds Place or release Transactions Holds 7

8 Void transactions that are not paid or applied (open transactions) Void paid or fully applied transactions (historical transactions) Edit posted transactions Modify or change creditor records Run the reconcile process and examine how it works Enquiries Payables Transaction Enquiry Creditor Purchasing All in One Document Payables Transaction Enquiry Document Creditor Credit Summary Enquiry Creditor Yearly Summary Enquiry Creditor Period Summary Enquiry Creditor Enquiry Payables Summary Enquiry Reports Create report options and print reports Historical Aged Trial Balance Cheque Register Report Print reports using groups or combined groups Period-End Procedures Identify the recommended steps to close a period in Payables Management Identify the recommended steps to close the calendar year in Payables Management Identify the recommended steps to close the financial year in Payables Management 8

9 Data Flows Collection Management Bank Reconciliation PRO Fixed Assets Receivable Management BANK PRO General Ledger Payables Management PRO BANK PRO Sales Order Processing PRO Inventory Management Purchase Orders PRO 9

10 Account Distribution Flows Payables Transaction DR distribution = Expense Account DR distribution = Tax CR distribution = Trade Creditor Control Account Cheque Run CR distribution = Cash Account DR distribution = Trade Creditor Control Account Reconciliation Path Payables ENQUIRY >> PURCHASING >> PAYABLES SUMMARY CALCULATE ENQUIRY >> FINANCIAL >> SUMMARY 10

11 Payables Management Setup Objectives The Objectives are: Discuss basic concepts and features in Payables Management Use the setup windows in Payables Management to personalise Payables Management for the organisation Assign default document descriptions, numbers and set other defaults Add Creditor Classes to organise and ease data entry Set up creditors to track creditor information appropriately for the organisation Set up new creditor records and related information Set additional defaults and selections for a creditor Enter multiple creditor addresses Enter default accounts to use for a creditor Enter beginning balances for creditors when implementing Payables Management View creditor history and summary information INTRODUCTION Payables Management is an integral component of the Microsoft Dynamics GP financial management system. The Purchasing Series is comprised of the key modules Payables Management and Purchase Order Processing. These modules are a part of the Microsoft Dynamics GP streamlined solution to a business's total needs. They assist with purchasing financial information quickly, efficiently, accurately, and also provide the insight needed to help make better, timely management decisions. The best way to get started with Payables Management is to use the setup checklist provided with the system. To access the system checklist, click Microsoft Dynamics GP, point to Tools, point to Setup, and then click Setup Checklist. Assign setup tasks to users, and track which steps are completed. As each step is selected in the checklist the appropriate window used to complete that procedure appears. 11

12 FEATURES AND BENEFITS Payables Management includes a variety of flexible features and benefits discussed briefly here, and in more detail later in this training. SET UP CREDITORS Creditor records are used to enter and store information about a company's suppliers. Address and billing information is stored with the creditor, and information such as the typical payment terms default when transactions are entered in Payables Management and Purchase Order Processing. Many informational reports can be generated to analyze account information by creditor. Customise CREDITOR Classes A creditor class is used to group creditors according to shared characteristics, such as business type or location. This feature provides defaults for new creditor records, speeding data entry, and facilitates reporting for a specific group of creditors quickly and easily. By using the class roll down feature, information can be changed for an entire class of creditors quickly and easily. Tailor User-Defined Fields Although Microsoft Dynamics GP tracks comprehensive information about creditors, additional information might need to be tracked that is specific to the business. With Payables Management two fields can be defined in the Creditor Maintenance window any way desired - one of these fields might be used to track the types of merchandise purchased. A report can then be printed comparing creditors of each specific type being tracked. Creditor & Transaction Holds Placing a creditor on hold prevents any payment from being recorded or cheques from being printed from a particular creditor. Credit memos and returns can still be applied and other transactions can be posted for the creditor. A transaction can also be placed on hold so it cannot be paid or applied. Customise transactions entry and posting Transactions can be entered in single-use or recurring batches. Recurring batches are useful for transactions that occur frequently. Weekly, monthly, or a specified number of days for how often transactions are posted can be assigned. The capability to enter intercompany transactions to distribute expenses among companies efficiently also exists. 12

13 Scheduled Payments Payment schedules can be set up for creditor invoices that are paid on an instalment basis. Interest and amortisation amounts can be calculated, and what if analysis can be performed to assist in determining the best interest rate, payment amount, number of payments, and their frequency. Calculate Taxes Automatically Microsoft Dynamics GP can calculate taxes automatically for transactions entered in the Payables Transaction Entry window. Tax details can be set up, which define each tax that may apply to the company and then those details can be grouped into schedules. When tax schedules are assigned to creditors, Microsoft Dynamics GP calculates the applicable taxes during transaction entry. Enter Manual Cheques, Cash, Credit Card and Prepayments A cheque, cash or credit card payment can be entered, and the payment applied to an existing document, or a payment can be issued for an invoice that is not yet entered. Recording payments helps to accurately reflect the current status of each transaction. Record Write-offs and Discounts If an amount on an invoice is not going to be paid you may write-off this amount. Discounts can also be taken on all invoices, based on payment terms, or a set amount Trade Discount. Process Computer Cheques Microsoft Dynamics GP provides the flexibility to print groups of cheques, or to print a single computer cheque at the time an invoice is entered. By creating batches of computer cheques specific creditors and vouchers can be selected for payment, and batches can be edited to fit payment needs. The cheque format can be customized and the cheques printed in the order that best fits the business's needs. Print Analysis and Audit Reports Creditor analysis reports can be sorted, restricted, and printed in a variety of ways, providing up-to-date analysis of the payables activity. Many different reports and lists can be printed in Payables Management to create a permanent audit trail of the transactions. 13

14 Print a Historical Aged Trial Balance In addition to the Aged Trial Balance, which separates open transactions into aging periods, a Historical Aged Trial Balance can be printed to view an aged trial balance of documents as they existed as of a previous date. Query Information Use Microsoft Dynamics GP to perform inquiries on unposted, posted, and historical transactions, as well as on creditor credit and creditor summary information. Unique querying tools provide a total financial picture by zooming on the origin of a particular transaction to view it as it was originally entered into the system. This is especially helpful if an error is suspected in a transaction and it needs to be traced back to its origin. Use Payables inquiry windows to view both detailed and summary creditor balances. 14

15 1.1 Payables Management Setup MICROSOFT DYNAMICS GP>> TOOLS >> SETUP >> PURCHASING >> PAYABLES NAVIGATION PANE >> PURCHASING >> SETUP >> PAYABLES Use the Payables Management Setup window to set default entries that appear throughout Payables Management. These defaults help to speed creditor, transaction, and payment entry. 1. Payables Management Setup window Aging Periods: Aging is the process that determines the age of the creditor accounts. The aging periods defined here appear throughout Payables Management and on the aged trial balances. Options exist in Payables Management to age creditor records by due date or document date. If Document Date is selected, the aging process calculates how many days old each document is, according to the aging periods defined. If Due Date is selected, the aging process calculates how many days past due each document is, according to the aging periods defined. 15

16 Age by Document Date Age by Due Date: $100 Invoice $100 Invoice Invoice date: 15/01/2018 Invoice date: 15/01/2018 Due date: 15/02/2018 Due date: 15/02/2018 Aging date: 28/02/2018 Aging date: 28/02/2018 Invoice is 44 days old Invoice is 13 days past due If aging by document date, the following aging periods are commonly used. Changes can be made to the aging periods by highlighting the To field for an aging period and changing the number of days displayed. The To field for the last aging period must be 999. Aging Period From To Current Days Days and Over If aging by due date, the following aging periods are very common. Changes can be made to the aging periods by highlighting the To field for an aging period and changing the number of days displayed. The To field for the last aging period must be 999. Aging Period From To Current Days Days and Over Apply by: Document date or Due Date: Selecting either Document Date or Due Date, determines the order that vouchers are applied when using the Auto-Apply feature in the Apply Payables Documents window. This selection is used to apply credit memos, returns, or payments. Credit 16

17 memos, returns, and payments can be applied automatically by document date or due date. If apply automatically by document date is selected, the payments and credits are applied first to documents with the oldest document date. If applying by Document Date: Document Date Payment Term Due Date 01/01/2017* 2% 10 Net 30 31/01/ /01/2017 Net 15 18/01/ /01/2017 Net 30 27/02/2017 *Payment is applied automatically to this document first If apply automatically by due date is selected, payments and credits are applied first to documents with the oldest due date. If applying by Due Date: Document Date Payment Term Due Date 01/01/2017 2% 10 Net 30 31/01/ /01/2017* Net 15 18/01/ /01/2017 Net 30 27/02/2017 *Payment is applied automatically to this document first Defaults: Select a Default Summary View to use when accessing summary windows. This choice serves only as a default, and can be changed once a summary window is accessed. In the Creditor Summary inquiry windows, there is an option to view summary information for the financial year, calendar year, or amounts since the last time the Payables Management module was closed. To make data entry quicker, specify the Chequebook ID most often used to write cheques to creditors. The chequebook selected appears as the default chequebook for all transaction entry and payment windows. This default chequebook can always be changed when entering a transaction or payment. Select the Cheque Format that is used most often when printing computer cheques. This default format can be changed when printing cheques. You can choose in which order cheques will be printed by default when performing a cheque run. You can still change the sort order to another option during a payment run if required. 17

18 List Documents on Remittance: Select the information to be printed on the remittances and cheque stubs. This default information can be changed when selecting or editing cheques. Assume the following documents are entered for a creditor: Selection Invoices Only What will print: Invoices, Finance Charges, and miscellaneous charges. Using the previous example, the following documents appear in this order: Invoice #1 Invoice #2 The cheque amount is $125 All Documents All documents selected for payment. Using the previous example, the following documents appear in this order: Invoice #1 Invoice #2 The cheque amount is $125 Applied Order Each invoice, along with the cheque, credit memo, or return applied to it. Using the previous example, the following documents appear in this order: Invoice #1 Credit Memo Invoice #2 The cheque amount is $125 Totals Only Total cheque amount only. No documents appear. Using the preceding example, no documents appear. The cheque amount is $125 Passwords: Use passwords to control access to sensitive Payables activities, such as removing a creditor hold or entering an invoice that exceeds the maximum invoice amount allowed for a creditor. For example, if an employee attempts to enter an invoice for more than the maximum invoice amount specified for the creditor, an alert message is displayed. At this point, if a manager's approval is needed to continue with the transaction, the manager can enter the password, allowing the transaction to be completed. Enter passwords to limit a user's ability to: Remove a creditor hold. Enter transactions that exceed the creditor s maximum invoice amount. Write-off amounts that exceed the creditor s maximum write-off amount. 18

19 Options: A number of options are available providing flexibility and customisation capabilities to processing in Payables Management. Select any of the options that apply to the company. Mark the Override Voucher Number at Transaction Entry option to change the default voucher number when entering transactions and the default payment number when entering payments. A voucher number is an internally generated number that identifies: An invoice A credit memo A return A miscellaneous charge A finance charge A payment number is an internally generated number that identifies a payment. The voucher number and payment number appear on: Edit lists Posting journals Audit trail reports If a duplicate voucher number is used when entering transactions or a duplicate payment number is used when entering payments, Payables gives a system alert and does not allow posting of the transaction. The voucher number displayed in the Payables Transaction Entry window or the payment number in the Payables Manual Payments Entry or Edit Creditor Payment windows cannot be changed if Override Voucher Number at Transaction Entry is not selected. Select Track Discounts Available in General Ledger to track the monetary value of terms discounts available in a separate account in General Ledger. The terms discounts available to the company are posted to the account assigned to Discounts Available on the creditor card or in Posting Accounts Setup. 2. $100 Invoice with 2% 10/Net 30 Terms 19

20 If Track Discounts Available in General Ledger is not selected, the discounts are posted to the Accounts Payable accounts along with the purchases amount. If Track Discounts Available in General Ledger is not selected, the discounts are posted to the Accounts Payable accounts along with the purchases amount. Class ID s are great for speeding up data entry or for grouping reports. 3. $100 Invoice with 2% 10/Net 30 Terms Select the Print Historical Aged Trial Balance box to print aged trial balances for transactions that are fully paid and transferred to history. If selected, transaction history is automatically maintained for all creditors, since this information is necessary to print the Historical Aged Trial Balance. Select the Delete Unposted Printed Documents box to delete documents even if they are printed. If this is not selected, once the document is printed, the document needs to be posted and voided for a complete audit trail. Select the Print Tax Details on Documents box for detail information to print on the documents printed from transaction entry. If this is not selected, only the total tax schedule amount prints on the documents. Select the Age Unapplied Credit Amounts box for the system to age any unapplied credit amounts during the aging process in Payables Management. The aging is based on the document date in relation to the aging date and how the aging periods are set up in Payables Management Setup. If this is clear, unapplied credits remain in the current aging bucket when printing the Aged Trial Balance. Select the Exclude Expired Discounts from Payments box if you wish to exclude invoices from the payment run. If you mark this option, and you select checks for a computer cheque run by using a range for due date\discount date cutoffs, the discount date for invoices is compared with the apply date entered in the Build Payment Batch Window. If the apply date is after the discount date for an invoice, the invoice isn t included in the computer cheque batch. Select the Warn if Creditor has existing Purchase Order option if you would like to display a warning if open Purchase Orders exist in the Company for the Creditor on screen. If this option is ticked then the system will 20

21 check for open purchase orders and display the warning before saving the document. This avoids entering a transaction into the incorrect module. Allow Duplicate Invoices Per Creditor: The invoice number refers to the Creditor s invoice number provided. Select Yes to allow duplicate invoice numbers from the same creditor. Select No to never allow duplicate invoice numbers from the same creditor. Select Recurring Transactions Only to allow duplicate invoice numbers only for transactions that are entered in a recurring batch. It might be necessary to duplicate invoice numbers for creditors who do not have specific invoice numbers or who have invoices that recur over a period of time. An example of a recurring invoice is monthly rent payments. However, by not allowing duplicate invoice numbers, accidental duplicate entry of invoices is avoided. If the Recurring Transactions Only option is selected, duplicate invoice numbers can be used for recurring monthly rent payments, but the safeguard of stopping duplicate invoice numbers in single use batches is still present. Microsoft Dynamics GP allows up to seven aging periods, but only the first four appear by default on Aged Trial Balance reports. Additional aging periods can be added to the reports using Report Writer. If Microsoft Dynamics GP is registered for Multicurrency, the chequebook specified does not default for computer cheque batches in Payables Management Discounts are recorded in the Creditor Summary windows regardless of how the option to Track Discounts Available in General Ledger is set. For the Next Number Fields, if a combination of letters and numbers are used, place the letters at the front; for example, VCH The letters do not increment, only the numbers increment. 1.2 Payables Setup Options MICROSOFT DYNAMICS GP>> TOOLS >> SETUP >> PURCHASING >> PAYABLES >> OPTIONS BUTTON NAVIGATION PANE >> PURCHASING >> SETUP >> PAYABLES >> OPTIONS BUTTON Use the Payables Setup Options window to enter a description for each document type, assign a code and set up the next document number for the transaction type. 21

22 4. Payables Setup Options Window. This window is also used to define the Creditor IDs used for temporary Creditor, and to enter default sales tax schedules and the prompts for the two Creditor User-Defined fields in Creditor Maintenance. Type, Description, and Code: A list of the Payables Management transaction types and descriptions is displayed in this window. The transaction description is used on some reports and inquiry windows. The transaction code is used when there is not room for the entire transaction description to be displayed on reports or on inquiry windows. These codes and descriptions can be customized to better reflect the business procedures. Next Number Fields: Voucher numbers and payment numbers are auto-generated numbers used to track individual transactions. Schedule numbers are auto-generated numbers used to track scheduled payment transactions. Enter a starting document number for each of these fields. Each time transactions are entered within Payables, the appropriate default document number is incremented by one. The next document number can be changed during transaction entry if allowed; however, the same number cannot be posted twice. Next Temp. Creditor ID: A temporary creditor is a person or company with whom there is a shortterm relationship and for whom minimal information is kept. The number entered here is the default when adding a temporary creditor in: Payables Transaction Entry Manual Payment Entry Edit Creditor Payment windows Default Tax Schedules: Default tax schedules can be entered for taxes charged on purchases, freight, and other miscellaneous charges. These schedules are used as defaults when entering transactions in the Payables Management Transaction Entry windows. Information about setting up 22

23 tax schedules and details and how taxes are calculated is available in the Financial Controller training course. User-Defined Fields: Enter prompts for user-defined fields, which can be used to track special information about each creditor and to sort information on reports. For example, if the types of creditors should be tracked that you purchase from, such as retail, wholesale, or service, enter Type in the User-Defined 1 field. In the Creditor Maintenance Options window, Type will be a prompt for one of the fields. You also see creditor Type as a sorting option on some creditor reports. The User-Defined 2 field can be used to track an additional piece of information about each creditor; it is not a default sorting option on reports, but it can be added to reports by using Report Writer. 1.3 Creditor Class Maintenance MICROSOFT DYNAMICS GP>> TOOLS >> SETUP >> PURCHASING >> CREDITOR CLASS NAVIGATION PANE >> PURCHASING >> SETUP >> CREDITOR CLASS Use the Creditor Class Setup window to set up creditor classes. 5. Creditor Class Setup Window. 23

24 When accessing the Creditor Class Maintenance window from the Payables Management Setup window, the default class displays in the window. To enter a new class, select the Clear button to clear the default class entries. Creditor classes are typically used to group creditors according to similar characteristics. For example, group creditors by business type, location, or any other similar characteristic. Creating creditor classes is optional, but can speed data entry. Benefits of Classes: The benefits of using classes in Payables Management are: Organize and speed up entering creditor records by providing defaults for new creditor records Change groups of creditor records easily and quickly if information for a class changes Group and sort creditors on some Payables Management reports, including the Aged Trial Balance reports Select cheques by creditor class When changing information on existing class records, the information for all creditors assigned to the class can be quickly changed. This is referred to as rolling down changes. A roll down can be made when the information changed needs to be reflected on every creditor record associated with the class. For example, the payment priority for a class is changed on the class record. If the changes are rolled down, the payment priority is changed for all creditors in the class. If the changes are not rolled down, existing creditors are not changed. After changing the class, new creditors added (and assigned to this class) have the new payment priority. Class ID and Description: Enter a Class ID using up to ten characters to identify the class. The description is used to further identify the code for reference and can be up to 30 characters long. For example, if setting up creditor classes by purchase type, RETAIL for retail creditors and WHSLE for wholesale creditors could be used. Microsoft Dynamics GP allows a default creditor class to be designated. The default class is a template for subsequent classes. The entries made for the default class appear as defaults for all new classes. If the Default check box is checked on a class, any other class previously designated as the default class, is no longer the default class. Multicurrency Fields: Use the following steps to enter a Currency ID and Rate Type ID: 1) Assign a Currency ID and Rate Type ID for this class. These fields are used with the Multicurrency Management module. 2) Enter the ID of the currency creditors in this class typically use. During transaction entry, the currency entered for the creditor s class - and rolled down to creditors in the class - is the default in payables transaction entry windows. For this reason, the recommendation is to enter a currency other than the functional currency only for those classes of creditors who typically use Multicurrency. 3) Click the Currency ID link to view more information. During transaction entry, the rate type entered for a creditor s class and rolled down to creditors in the class is the default in payables transaction entry windows. 4) Click the Rate Type ID link to view more information. If a creditor class is set up and later, the rate type or default currency is changed, the changes can be rolled down to the creditors already assigned to this class. In the future, the new values are assigned to all creditors that are assigned to the class. 24

25 5) Decide whether to allow users to revalue multicurrency documents for creditors in this class by marking the Revalue Creditor check box. Also, decide which account to post to when revaluing documents. Payment Terms and Grace Periods: Enter or select a payment term. If a date or end-of-month (EOM) payment term is being used, then enter the appropriate grace periods; discount grace period and due date grace period. Payment Priority: By entering a payment priority, it can be easier to identify the creditors that should be paid first. Use the payment priority to easily select to pay the creditors previously prioritised, instead of having to determine that information at the time cheques are being issued. When assigning payment priorities, be sure that each payment priority has the same number of characters. The characters are sorted from left to right and numbers take priority over letters. For example, if the following creditor classes were assigned these payment priorities, they would be selected in this order: Creditor Class Payment Priority Wholesale 1 Inventory 1A Retail A1 Minimum Order Amount: Enter a minimum order amount if the creditor specified one. A system alert is generated if an invoice is entered for less than this amount. The invoice can still be entered and posted even if it is less than the minimum order amount specified. Trade Discount: If the creditor offers a trade discount for every purchase, enter the percentage. This is a flat discount amount the creditor offers and reduces the amount posted to the Accounts Payable account. This percentage appears as a default on every invoice entered for that creditor in the Payables Transaction Entry window, but can be adjusted as needed. Tax Schedule and Shipping Method: Enter the tax schedule used to calculate taxes on purchases made from creditors in this class. Because taxes are calculated at the point of exchange, the shipping method is important for determining which taxes are calculated. If the selected shipping method is assigned a shipping type of pickup, the tax schedule from the creditor is compared to the Purchase Tax Schedule ID in the Payables Setup Options window. Taxes are only calculated on the details that match. If the selected shipping method is assigned a shipping type of delivery, the tax schedule from the company is compared to the tax schedule assigned to the Purchase Tax Schedule ID in the Payables Setup Options window. Taxes are only calculated on the details that match. 25

26 Shipping Method Pickup Purchase Tax Schedule ID compared to: Creditor Tax Schedule ID Delivery Company Tax Schedule ID Chequebook ID: Enter the ID for the chequebook that is typically used to pay the creditors in this class. Click the Chequebook ID link to view more information about the selected chequebook. If the chequebook is inactive, it does not appear as a default in transaction entry windows. User Defined Fields: Enter information about the creditors in this class. The prompts can be changed in the Payables Setup Options window. FOB (Free on Board): Select when the transfer of title passes to the buyer. The options are none, origin and destination. This field is informational only and is not used in any calculation by Microsoft Dynamics GP. One Payment Per: Select whether a Creditor payment should be produced per creditor or invoice. This option should be set at Creditor Level and the option selected will default to the Build Payment Batch window as Use Creditor Option. Minimum and Maximum Amounts: If the creditors in this class require a minimum payment each month, enter the percentage or amount required. If selecting the minimum payment, during computer cheque processing the system uses the amount or percentage entered here to determine how much to pay a creditor. Select a maximum invoice amount, and enter the amount, if required. If an invoice is for more than the maximum amount, a message is generated by the system. A password may be required to be entered to continue with an invoice that exceeds the maximum amount. This occurs if a password is entered in the Payables Setup window for this feature. Credit Limit and Writeoffs: A credit limit can be entered if the creditors have set a credit limit for the company. This field is informational only; no warning message in Payables Management displays if this credit limit is exceeded. Select how to handle write-offs and enter those amounts, if required. Write-offs provide the capability to writeoff portions of an invoice when entering or applying a payment. This may be helpful if there are rounding differences and the entire amount of the invoice is not going to be paid. 26

27 If Not Allowed is selected, a write-off amount cannot be entered in the Apply Payables Documents window. If a maximum amount is entered in this window, a message displays if a transaction exceeds this amount. It may be necessary to enter a password, if one is assigned in the Payable Management Setup window, before it is possible to write off more than the maximum write-off amount. Maintain History: Payables Management provides the option to keep detailed and summary history. Calendar and financial year history are summaries of posted transactions for each period in the calendar and financial year. Transaction and distribution history includes detailed information about transactions and the distributions entered. If calendar-year history is selected to be maintained, information for creditors is saved by calendar months. If financial-year history is selected, creditor information is tracked for each of the periods defined for the financial year. This information allows the printing of reports that accurately reflect purchasing activity in each financial period and can be useful in determining whether a company's budgetary goals are met. If transaction history is selected, information about fully paid vouchers is kept. This information can be used to print history reports, view information about paid vouchers using the inquiry windows, and void cheques and transactions. The Historical Aged Trial Balance report can be printed for the creditors. By selecting distribution history, posting account distributions for each transaction are kept. If the option to reprint posting journals in Posting Setup is selected, distribution history is kept regardless of the selection in this window. Information does not have to be entered in every field in the window. However, the more information entered, the faster data entry is when new creditor records are set up. When setting up Minimum and Maximum Amounts, remember that credit card companies typically have minimum payment requirements. It might be valuable to create a default class first. That way, when subsequent classes are entered, posting accounts and other class information appear as defaults, and save data entry time. If the financial year is the same as the calendar year, it is not necessary to keep both calendar and financial-year history. The Maintain History option does not affect what is posted in General Ledger. This option only affects the distribution history saved in Payables Management. 1.4 Creditor Class Accounts Setup MICROSOFT DYNAMICS GP>> TOOLS >> SETUP >> PURCHASING >> CREDITOR CLASS >> ACCOUNTS BUTTON NAVIGATION PANE >> PURCHASING >> SETUP >> CREDITOR CLASS >> ACCOUNTS BUTTON Use the Creditor Class Accounts Setup window to enter default accounts for the selected class. 27

28 6. 28

29 Creditor Class Acocunts Setup Window. Default accounts can be entered and then rolled down to creditors to help streamline the set up of creditors in Microsoft Dynamics GP. Use Cash Account from: Select whether to use the cash account from the chequebook or the creditor record as the default when entering transactions for creditors in this class. If creditor is selected, enter a cash account; if chequebook is selected, the cash account from the chequebook is used instead. If the Bank Reconciliation module is being used for reconciliation purposes, use the cash account from the chequebook, otherwise balancing the business chequebooks is extremely difficult. Posting Accounts: Enter posting accounts. These accounts appear as defaults for creditors assigned to this class. If General Ledger is being used, transaction amounts are posted to these accounts. If General Ledger is not being used, print the Distribution Breakdown Register; this report displays the distributions made to individual posting accounts. These amounts can be entered in another system. 29

30 Additional Creditor Accounts: Open the Additional Creditor Accounts window by clicking the Ellipsis button in the Purchases Account Description field. These additional purchase accounts can be used during transaction entry when amounts to posting accounts are distributed. 7. Additional Creditor Accounts Window. For example, assume two employees are working in separate departments who both purchase office supplies from the same creditor, and the creditor sends one invoice for both purchases. By assigning different accounts for each employee's department, the expenses can be tracked by department. Enter the additional purchase accounts to use for this class. Select the Default on Trx box for the accounts that need to default on the transaction. During transaction entry, these accounts appear in the Payables Transaction Entry Distribution window and default with $0. If this is not selected, the account does not default on the transaction, but a list of purchasing accounts in the Accounts lookup window is available during transaction entry. 30

31 1.5 Creditor Maintenance CARDS >> PURCHASING >> CREDITOR NAVIGATION PANE >> PURCHASING >> CARDS >> CREDITOR Use the Creditor Maintenance window to enter and track creditor information about creditors. 8. Creditor Maintenance Window. The foundation of the Payables Management module is the collection of creditor records. This information is used to track the status of creditors and to print reports. It is important to keep this information up-to-date to reflect a company's current activity. 31

32 Creditor ID and Name Fields: Enter a Creditor ID using up to 15 characters, and a creditor Name using up to 30 characters. Many reports in Payables Management can be sorted by creditor name or ID. To ensure reports are printed in the correct order, be sure each creditor code has the same number of characters. Characters are sorted from left to right, and numbers take priority over letters. Click the Note icon to the right of the Creditor ID to access the creditor note window. This window is used to enter notes regarding the creditor. This field is accessible and can be edited throughout the system. Attach documents relating to the Creditor using the Document Attach icon The Short Name can be used on reports if the creditor name is too long to be printed on reports. For example, enter AMX, for American Express. The short name is also used as a sorting option for some reports. Enter a Cheque Name if something other than the creditor's name, as it appears in the creditor Name field, needs to be printed on computer cheques. Cheque names are often used to print the creditor's first name first on cheques. For example, enter Jane Smith as the cheque name for the creditor Smith, Jane. Hold: Place a creditor on hold if, for example, charges made to the company are being disputed. If a creditor is on hold, payments cannot be posted; however, vouchers can still be applied and transactions can be posted for the creditor. If a password is assigned in the Payables Management window for this function, it is necessary to enter the password when the creditor hold is removed. Use the Hold Payables Transactions window if only one of a creditor's transactions needs a hold status. Status: When creditor records are created or changed, there are three creditor types to select from: An active creditor - A person or company with whom there is a long term relationship, and detailed information must be kept. A temporary creditor - A person or company with whom there is, or there is a plan to have, a short-term relationship with and want to be able to delete easily. An inactive creditor - A person or company with whom business is no longer being conducted with. Typically these are creditors whose records cannot be deleted because historical information is being maintained for them. 32

33 Select the creditor status that fits the creditor. Use the following charts to determine which creditor status is the most appropriate for a particular creditor. Area/Info Active Inactive Temporary Definition There is the desire to have a long term business relationship with this creditor and keep detailed information There is no longer a business relationship with this creditor. Most likely, the creditor will not be entered as inactive during setup. There is going to be a short term relationship with this creditor, and the record needs to be related easily. Transaction Entry Transactions and payments can be entered, saved and posted, and cheques can be printed. Transactions and payments cannot be saved or posted, and cheques cannot be printed. Transactions and payments can be entered, saved and posted, and cheques can be printed. Vouchers or cheques can be voided as long as the temporary creditors are not yet deleted. Deletion An active creditor record can be deleted if the creditor does not have a current balance, no transaction or payment history and, or no open purchase orders. An inactive creditor record can be deleted if the creditor has no transaction or payment history. A temporary creditor record can be deleted if the creditor does not have a current balance, and there are no open purchase Orders in Purchase Order Processing. This creditor type can have records in history, and still be deleted. There are some limitations to switching statuses for a creditor. Refer to the following tables for information on changing a creditor's status. Active Inactive Temporary An active creditor can be changed to inactive if the creditor has no current balance, and no open purchase orders in Purchase Order Processing. The record can have transactions or payments in history. An inactive creditor can be changed to an active creditor at any time to resume business activity A temporary creditor can be changed to an active creditor at any time if there is a desire to have a long-term business relationship. An active creditor can be changed to temporary at any time. An inactive creditor can be changed to temporary at any time. A temporary creditor can be changed to inactive if the creditor does not have a current balance and there are no open purchase 33

34 orders in Purchase Order Processing. Class ID: To assign this creditor to a creditor class, enter a Class ID. The entries made in the Creditor Class Setup window appear as the defaults for the creditor record. Use these default entries or change them on the creditor record. Click the Class ID link to view more information about the class. If entries were made for the creditor and then a class is assigned to the creditor record, earlier entries are replaced by the entries for the Class ID. For that reason, the recommendation is to enter a Class ID prior to entering other information about the creditor. Address ID and Internet Information: Enter the creditor's main or primary Address. It can be helpful to enter an ID such as MAIN OFFICE or PRIMARY. When the primary Address ID is entered, it appears as the default ID for the purchase address, remit-to address (which is printed on cheques) and ship-from address. If there is more than one address for a creditor, such as purchase, remit to, and ship from, enter additional addresses in the Creditor Address Maintenance window, which can be accessed by clicking the Address button on the Creditor Maintenance window. If it is necessary to add additional addresses for this creditor in the future, the window can also be opened from the Purchasing Cards menu. Click the Internet button to enter Internet information specific to this Address ID. Internet Information prompts are specified in the Internet User Defined Setup window accessible through the Company Setup window. MapPoint Icon: Click the MapPoint icon, which looks like a push pin, to select and display a map, driving directions, or to plan a driving route using MapPoint. This button is available if the mapping buttons are selected to display by the user in the User Preferences window. Tax Schedule and Shipping Information: The Tax Schedule and Shipping Method fields default from the creditor class. Make any necessary changes to these fields. Enter the tax schedule to be used to calculate taxes on purchases made from this creditor. Because taxes are calculated at the point of exchange, the shipping method is important for determining which taxes are calculated. If a shipping method that is assigned a shipping type of pickup is selected, the tax schedule from the creditor is compared to the Purchase Tax Schedule ID in the Payables Setup Options window. If a shipping method that is assigned a shipping type of delivery is selected, the tax schedule assigned to the company is compared to the tax schedule assigned to the Purchase Tax Schedule ID in the Payables Setup Options window. 34

35 Shipping Method Pickup Purchase Tax Schedule ID compared to: Creditor Tax Schedule ID Delivery Company Tax Schedule ID Default Address ID's: Enter the default Address IDs for Purchase, Remit To (which prints on cheques), and Ship From. Additional Address IDs can also be entered at this time. The Remit to address can be entered on transactions in Payables Management and Purchase Order Processing. Cheques can be printed separately for each Remit to address entered on transactions in Payables Management. Enter a Remit to Address ID for an address to be printed on cheques. A remit to address can be entered to use an address other than the primary address. Click the Remit To link in the transaction windows to view additional information. The remit to address assigned to the creditor record is used if transferring funds using the European Electronic Funds Transfer module. Creditor Account and Comments: Enter a creditor account number in the Creditor Account field. Typically this is the account number the creditor assigned to the company. Comments entered here in the Creditor Maintenance window appear on the Creditor Detail List report and the Creditor Inquiry window. When entering addresses, preface the address with MailTo:. This provides the ability to click the zoom and automatically address an to the creditor. 1.6 Creditor Maintenance Options CARDS >> PURCHASING >> CREDITOR >> OPTIONS BUTTON NAVIGATION PANE >> PURCHASING >> CARDS >> CREDITOR >> OPTIONS BUTTON Click the Options button on the Creditor Maintenance window to open the Creditor Maintenance Options Window. Use this window to set additional defaults and selections for a creditor. 35

36 9. Creditor Maintenace Options Window. Most of the fields in this window default from the Creditor Class Setup window if the creditor is assigned to a class on the Creditor Maintenance window. Verify the Creditors ABN by clicking the to access the ABR website 36

37 10. When a valid ABN is added check the various tabs to verify the Creditor. An ABN should be entered for every Creditor To verify the Creditors ABN click the icon to access the ABR website Field Information: The following fields default from the creditor class: Currency ID Rate Type ID Payment Terms Discount Grace Period Due Date Grace Period Payment Priority Minimum Order Trade Discount Chequebook ID User-defined fields Tax Type FOB 37

38 Minimum Payment Maximum Invoice Amt Credit Limit Writeoffs Revalue Creditor Maintain History options Make the necessary changes to any of these fields. These fields were already discussed in the Creditor Class Maintenance lesson of this training. 1.7 Creditor Address Maintenance CARDS >> PURCHASING >> ADDRESSES CARDS >> PURCHASING >> CREDITOR >> ADDRESS BUTTON NAVIGATION PANE >> PURCHASING >> CARDS >> ADDRESSES 11. Creditor Address Maintenace Window. 38

39 If there is more than one address for a creditor, such as purchase, remit to, and ship from, enter the additional addresses in this window. A unique tax schedule and shipping method can be entered for each address. This is valuable when a company has multiple plants in different taxing localities. Enter an Address ID and enter the address information and click Save. Delete addresses from this window by clicking Delete. Additional Information: Click the Internet button to enter Internet Information specific to this Address ID. Internet Information prompts are specified in the Internet User Defined Setup window accessible through the Company Setup window. If additional addresses for this creditor need to be added in the future, this window can also be opened from the Purchasing Cards menu. 1.8 Creditor Account Maintenance CARDS >> PURCHASING >> CREDITOR >> ACCOUNTS BUTTON NAVIGATION PANE >> PURCHASING >> CREDITORS >> ACCOUNTS BUTTON Use this window to enter default accounts for each creditor record. 12. Creditor Account Maintenance Window. 39

40 If this creditor is assigned to a class, the accounts entered for the class in the Creditor Class Accounts Setup window appear as defaults here. The Cash Account fields are available if Creditor is selected in the Use Cash Account From field. Click the Purchases Account Expansion button to open the Additional Creditor Accounts window. If any additional purchase accounts are selected on the class, they also default. Make any necessary changes. These accounts appear as defaults when entering transactions. If posting accounts are not entered in this window, the accounts set up in Posting Accounts Setup are used instead. 1.9 EFT Creditor Maintenance CARDS >> PURCHASING >> EFT CREDITOR SETUP NAVIGATION PANE >> PURCHASING >> CARDS >> EFT CREDITOR SETUP Use this window to enter the EFT details for a Creditor. 13. EFT Creditor Setup Window. 40

41 Fields: Selecting the EFT Creditor tick box will enable the EFT function for a creditor. Selecting the Direct Entry button if the creditor is being paid electronically via EFT. Only select the Bank Cheque button if the bank will print bank cheques for the creditor (this option only works in conjunction with Westpac bank). The BSB Number must be in the format XXX-XXX, and only applies to Direct Entry creditors. Pressing the Delete button for a creditor only removes the creditor from the EFT list. The Bank Account No. is the creditors bank account, including zeros and must not have any spaces or - s The EFT Reference is the what appears on the Creditors bank statement and is generally your company name. The creditor s main details are still active and are not removed. Press the Print button to print out an EFT Creditor Listing Report. If EFT Approval has been activated in the Bank Pro Enhancement setup window, a user MUST have security granted before they can check the Creditor Approved for EFT Transactions. A creditor cannot be paid using an EFT payment if EFT Approval has been activated and the Creditor Approved for EFT Transactions option has not been checked during the Creditor setup. You can apply security to the EFT Creditor Setup window to restrict selected users/roles to entering EFT information for a Creditor and also for viewing the information only Creditor Remittance Maintenance CARDS >> PURCHASING >> CREDITOR NAVIGATION PANE >> PURCHASING >> CARDS >> CREDITOR 41

42 14. Address for Creditor Set up Window. To; Cc and Bcc can be used in the same way we send an Activating EFT Creditor Auditing Options MICROSOFT DYNAMICS GP >> TOOLS >> UTILITIES >> FINANCIAL >> BANKPRO >> BANKPRO CONFIGURATIONS NAVIGATION PANE >> FINANCIAL>> UTILITIES >> BANKPRO >> BANKPRO CONFIGURATIONS Use this window to activate Creditor Auditing of entered or modified EFT details for a Creditor 42

43 15. The BankPro Enhancements Window. Changes to EFT Creditor information can be tracked by switching on the Creditor Auditing tick box. BankPro will track if any new information is added or any existing information is changed or deleted. BankPro will record the user who made the change and the date when the changes occurred (see the Reporting Section of this manual on how to produce the Creditor Audit Report). Checking the EFT Approval will allow Creditors to be approved as EFT Creditors before the creditor can be included on an EFT payment run. Checking the Batch Security option will allow a user to be set up with an EFT Approval Limit. When the end-user clicks the left print button in the print payables cheques window (Transactions > Purchasing > Print Cheques). They will be prompted for a GP user & password. The Batch Total will be what is verified against the user s approval authority. If the userid and/or password is incorrectly entered they will receive the pop up message The UserID or password you have entered is invalid. Please try again and cannot print. 43

44 If the userid selected has zero approval authority they will receive the pop up message This User cannot be selected for Approval. Please try again and cannot print. If the userid selected has less authority than the batch total they will receive the pop up message The Batch Total has exceeded this user s approval authority. Please try again and cannot print 44

45 Daily Procedures Section Outcomes At the end of this section participants will be able to: Daily Procedures Enter batches in Payables Management Enter creditor invoices, credit memos, and other creditor transactions Print a cheque from Payables Transaction Entry Enter, track and process scheduled payment transactions Post individual schedule payments to creditor accounts 45

46 2.1 Introduction There are two ways to enter transactions in Microsoft Dynamics GP: Batches (Recommended & may be your only option) Use batches to: Group similar transactions for entry and posting. Assign the transactions to a batch, to be posted later. Save and print an edit list (edits can be made at a later time, prior to posting). Remove a Batch ID if desiring to post at the transaction level or change the batch. Single Transaction Use a single transaction: To enter and post one transaction at a time. To post immediately. With a single transaction: The transaction cannot be saved, nor can an edit list be printed. Enter a Batch ID to save a transaction. When posting from other modules, the transaction does not post all the way through General Ledger. Posting journals are printed when the transaction entry window is closed. Posting Transactions: Microsoft Dynamics GP provides several different methods and windows for posting transactions, including using batches, or single transactions. The methods available are: Transaction Posting - Single transactions not entered in batches. Batch Posting - Transactions entered in a batch; the individual batch is posted. Series Posting - Transactions entered in a batch; batches from the same series can be posted at the same time. Master Posting - Transactions entered in a batch; batches from any series can be posted at the same time. 46

47 2.2 Batches TRANSACTION >> PURCHASING >> BATCHES NAVIGATION PANE >> PURCHASING >> TRANSACTION >> BATCHES Use batches to group similar transactions and to post all transactions at once into both Payables Management and the General Ledger. Use the Payables Batch Entry window to create batches to record: Invoices Credit memos Returns Miscellaneous charges Finance charges Payments 47

48 Batch ID, Comment and Origin: A Batch ID is an identifier for a batch. Use an ID that is descriptive and easily recognized (for example your initials and the date is a commonly used Batch ID). Enter a comment to further identify the batch. An example can be to use an individual's initials and a date. The comment entered for a batch remains with the batch when it is posted to General Ledger. Select whether this batch is for entry of transactions, computer cheques or manual payments using the Origin field. Batches are specific to the type of transaction entered. The selection made here determines which transaction entry window opens when the Transactions button is clicked on this window. Frequency: Select a batch frequency to assign to the batch. The selections available are: Single Use Weekly Biweekly Semi monthly Monthly Bimonthly Quarterly Miscellaneous If a batch frequency other than single use is selected, a recurring batch is created. A recurring batch remains in the system after it is posted and it can be posted again periodically, on a weekly or monthly basis. Recurring batches can be posted repeatedly and they save valuable data entry time if it is certain the same entries are going to be made again in the future. The following table explains how each of the frequencies work: Frequency Single Use Description Transactions entered into a single use batch are posted once and the batch is removed from the system. Weekly The transaction date is incremented by seven days. For example, if the posting date is January 1, the next posting dates are January 8, January 15, and so on. This batch remains in the system until the number of postings is reached or until it is deleted. Bi-weekly The transaction date is incremented by 14 days. For example, if the posting date is January 1, the next posting dates are January 15, January 29, and so on. This batch remains in the system until the number of postings is reached or until it is manually deleted. Semi monthly The transaction date increments from the 1st to the 15th of every month or from the 15th to the 1st of the next month. Warning: if the posting date is January 13, the next posting dates are January 15, February 1, and so on. So be careful to use the correct starting 48

49 posting date when using this frequency. This batch remains in the system until the number of postings is reached or until it is manually deleted. Monthly The transaction date is incremented by one month. For example, if the posting date is November 15, the next posting date increments to December 15. If the posting date is January 25, 2017, the next posting dates are February 25, 2017, March 25, 2017, and so on. This batch remains in the system until the number of postings is reached or until it is deleted. Bimonthly The transaction date is incremented every other month. For example, if the posting date is January 1, the next posting dates are March 1, May 1, and so on. This batch remains in the system until the number of postings is reached or until it is deleted. Quarterly The transaction date is incremented by three months. For example, if the posting date is August 31, 2017, the next posting dates are November 30, 2017 and February 28, 2018, and so on. This batch remains in the system until the number of postings is reached or until it is manually deleted. Miscellaneous If Miscellaneous is selected as the batch frequency, specify the number of days to increment the transaction date. This batch remains in the system until the number of postings is reached or until it is manually deleted. Recurring Posting: If a frequency other than single use is selected, enter the number of times to post the batch. For example, if a monthly frequency batch is entered with three recurring postings and the first posting date is January 1, the batch posts with the following dates: January 1, February 1, and March 1. After the March 1 batch is posted, the batch is removed from the system. If the batch needs to remain in the system for unlimited postings, enter 0 for recurring postings. Recurring batches can be deleted at any point. When a recurring batch is posted, Microsoft Dynamics GP increments the voucher number for each transaction using a three-character extension to the normal 17-digit number; this ensures the voucher numbers for recurring transactions are unique. If the voucher number is not currently 17 digits long, it is expanded accordingly with the three-character extension on the end. For example, if the next voucher number is VCH00125 in Payables Management Setup, the voucher number assigned to a transaction in a recurring batch is VCH The next time this batch is posted, the voucher number assigned is VCH Days to Increment: If a frequency of Miscellaneous is selected, specify a number of days to increment the transaction date. If a frequency other than miscellaneous is selected, the posting date is incremented according to the type. For example, the posting date is incremented by seven days if Weekly is selected as the frequency. 49

50 Other Fields: The Times Posted and Last Date Posted fields are updated by Microsoft Dynamics GP as the recurring batch is posted. The last date posted is the system date that was posted, not the user date or the posting date. The current user date defaults for the Posting Date. If using the posting date from the batch (as defined in Posting Setup), enter the date that is going to be used when transactions are posted to General Ledger. If using the posting dates from transactions, this field is unavailable. If Multicurrency Management is used, enter the cheque date. Use this date to determine which exchange rate is to be used for this batch of cheques. This field cannot be edited after a batch of cheques is created. If a multicurrency batch is entered, the corresponding field in the Print Payables Cheques window is also not available. If the batch origin is Payables Transaction Entry or Manual Payment, the Cheque Date field is unavailable. Enter the chequebook these transactions need to be recorded in. The chequebook entered in Payables Management Setup appears as the default in the Chequebook ID field. If using Multicurrency Management, enter the currency for this batch of computer cheques. The functional currency is the default entry. Only one currency can be used for all cheques in this batch. If the batch origin is Payables Transaction Entry or Manual Payment, the Currency ID field is unavailable, but the Currency ID can be entered in those windows. Transactions and Batch Total Controls: Control fields are available to enter the number of transactions and the total amount of the transactions entered in the batch. Use these fields to compare against the Actual fields to verify the correct number of transactions and batch total are entered before posting. The Actual fields are automatically updated as transactions are saved into the batch. The Control fields work in conjunction with settings in the Posting Setup window. If Verify Number of Trx on the Posting Setup window is selected, then the control for Transactions must match the actual number of transactions in the batch before it can be posted. If Verify Batch Amounts is selected, then the control total for Batch Total must match the actual batch total before the batch can be posted. If only one or none of these options are selected in Posting Setup, the corresponding Control fields on the Batch Entry window is for reference only. The batch total for Payables Management batches is the absolute value of all transactions in the batch. For example, if the batch contains an invoice for $100 and a credit memo for $50, the batch total is $150. Password Approval: If Require Batch Approval is selected in the Posting Setup window, the batch needs to be approved before it can be posted. To approve a batch, the password must be entered. The password is case-sensitive. Do not select the Password Approval box until all transactions are entered and verified and the batch is ready for posting. Once the batch is approved, it cannot be edited. However, a batch can be un-approved and then re-approved to allow for edits. 50

51 A batch can be approved even though the control totals do not match. If Verify Number of Trx and, or Verify Batch Totals are selected in Posting Setup, the batch does not post. In this case, un-approve the batch and either change the control totals to match the actual or edit the batch to match the control totals. Then reapprove the batch. When a batch requires approval but it is not yet approved, it has a posting status of Unapproved. A status of Unapproved indicates the batch requires approval, but it is not yet approved and it is available for editing. When a batch is approved it has a status of Approved. A batch that requires approval must be approved before it can be selected for posting. Once a batch is approved, the User ID field is updated with the User ID of the person who approved the batch. The Approval Date is also filled with the current system date at the time of approval. Transactions Button: Click the Transactions button to open the Payables Transaction Entry window if the batch origin is Payables Trx Entry. If the batch origin is Manual Payment, the Payables Manual Payment Entry window opens when this button is clicked. If the batch origin is Computer Cheques, a Go To window opens when this button is clicked, which then opens the Select Payables Cheques, Edit Payables Cheques, or Print Payables Cheques window. The Batch ID lookup window lists all unposted batches in Payables Management. A recurring batch is not automatically posted by Microsoft Dynamics GP. A recurring batch needs to be manually posted each month for example, if the batch frequency selected is Monthly. The following transactions cannot be entered in recurring batches in Payables Management: Returns, credit memos, payments, and transactions with payments. 2.3 Payables Transaction Entry TRANSACTIONS >> PURCHASING >> TRANSACTION ENTRY NAVIGATION PANE >> PURCHASING >> TRANSACTIONS >> TRANSACTION ENTRY Use the Payables Transaction Entry window to enter many creditor related transactions. 51

52 16. Payables Transaction Entry Wndow. Many different transaction types can be entered in Payables Transaction Entry. They include: Invoices Credit memos Returns Miscellaneous charges Finance charges Payments with invoices For payments with invoices, a cheque can be printed directly from the Payables Transaction Entry window. Voucher No. A voucher number identifies an invoice, credit memo, return, miscellaneous charge, or finance charge. The voucher number appears on the Transaction Edit List and audit trail reports. Use these voucher numbers on audit trail documents to trace the history of any specific document. The next voucher number specified in the Payables Options Setup window appears as the default. Each time vouchers are saved or posted, the default voucher number increments by one. The number can be changed here, but the system continues defaulting numbers based on the entry in 52

53 the Payables Management Setup window. However, the same voucher number cannot be posted twice Click the Note icon to the right of the voucher number to open the Note window. This provides the ability to enter extended information regarding the transaction. This note is accessible and can be edited throughout the system, even after the transaction has been posted. Document Type and Description: The following types of transactions can be entered using this window: Document Type Invoice Description An invoice is a bill for goods and/or services received or ordered from a creditor. This is the most common transaction entered in Payables Transaction Entry. A payment amount can be entered with an invoice if the invoice is paid or partially paid when it is entered. Credit Memo A credit memo is a reduction in the amount owed a creditor on account, for something other than the return of merchandise (that is, a price adjustment or correction). Return A return of merchandise is used to offset the amount of the original transaction by receiving a credit in the form of cash or a cheque, or a credit on the credit card statement or the account with the creditor. Miscellaneous Charge A miscellaneous charge is a service charge that is not part of the normal purchasing process, such as a charge for installation or repair of merchandise Finance Charge A finance charge is the cost of borrowing money, or a late charge for not making payments on time to a creditor. Enter a description to help identify the transaction. If posting transactions to General Ledger, the transaction description appears as the reference in the General Ledger module. Batch ID: Enter the Batch ID for the batch this transaction needs to be assigned to. This is done by either clicking the Batch ID lookup button or selecting the batch from the list, manually typing the Batch ID, or entering a new Batch ID. When entering a new Batch ID, follow the prompt to add it. To post this transaction using transaction-level posting, leave the Batch ID field blank. If a batch is created in the Payables Batch Entry window with an origin of Payables Trx Entry and then the Transactions button is clicked, the Batch ID is automatically displayed in this field. Click the Batch ID expansion button to open the Payables Batch Entry window where information about a specific batch can be viewed, added, or changed. Document Date: This is the date the transaction is posted in Payables Management. The selections made in Posting Setup determine what date is used when the transaction is posted to the General Ledger. If selecting to 53

54 post to the General Ledger using the transaction date or using transaction-level posting, the Date expansion button is available. Click the expansion button to open the Payables Date Entry window. In this window, a posting date can be entered that is different than the document date. Otherwise, the posting date defaults to the document date. If selecting to post to the General Ledger using the batch date and a Batch ID is assigned to this transaction, the Date expansion button is unavailable. The posting date for this transaction uses the date assigned to the batch in the Payables Batch Entry window. Creditor ID and Name: Enter a Creditor ID for this transaction, or select it from the lookup. The creditor name defaults into this field. A new creditor record can also be added by entering a new Creditor ID. The system provides prompts to enter the information needed to add the creditor record. After a transaction is saved or posted, the field defaults with the ID used in the previous transaction. This default ID can be changed before tabbing off the field. Temporary Creditor: To add a temporary creditor, place the insertion point in the Creditor ID field and then select Temporary Creditor from the Options Menu. The next temporary creditor number specified in the Payables Setup Options window appears as the default. Each time a temporary creditor is added, the default temporary number increments by one. Address IDs: This helps determine how taxes are calculated. If the shipping method is set to pickup then the tax schedule from the creditor at this Address ID is used. If the shipping method is set to deliver then the tax schedule from the company is used. The Remit-To ID provides users with the capability to specify a remit to address for each creditor invoice. Separate creditor records do not need to be set up to send cheques to multiple addresses for a creditor. During the cheque selection process separate cheques are created for each remit to address associated with the invoices selected for payment. Payment Terms: Enter or select the payment terms that apply to this invoice. The entries made for this creditor in the Creditor Maintenance Options window appear as defaults. Click the Payment Terms expansion button to open the Payables Payment Terms Entry window. This window shows the due dates and the amount of the discount. These fields can be adjusted for the chosen transaction. If pre-defined payment terms do not work for a creditor, this window can still be used to record due date and discount information per transaction. Currency ID: If Multicurrency Management is used, enter or select the Currency ID for this transaction. The functional currency is the default currency when the window is first opened. If a Creditor ID is selected that has another currency assigned, the default currency changes to the one assigned to the creditor. Click the Currency ID link to view more information. 54

55 If the Currency ID is an alternate currency, a rate type and associated exchange rate table are assigned to the transaction. The rate type is based on the rate type assigned to the selected creditor; if a rate type is not assigned to the creditor, the default rate type for Purchasing specified in the Multicurrency Setup window is used. If a cheque is printed for this transaction, the Currency ID cannot be changed because the currency must be the same for the cheque and the transaction. Document Number and P.O. Number: The Document Number field stores the transaction number assigned by the creditor, such as the invoice number. This is a required field. Based on selections made in Payables Management Setup, this field can or cannot allow a duplicate number to be entered for a creditor. Enter the purchase order number associated with this transaction. This field contains the purchase order number from Purchase Order Processing if the transaction originated there. Shipping Method: Enter or select the shipping method that applies to this invoice. The entry made for this creditor in Creditor Maintenance appears as the default. If the shipping method chosen requires picking up the merchandise, the tax schedule from the creditor is used. If the shipping method selected requires the creditor to deliver the merchandise, the tax schedule from the company is used. Tax Schedule ID: Enter the ID for the tax schedule to be used on this transaction. Tax schedules are used to determine which tax details are needed to calculate tax on the transaction. If entering a return or credit memo, no Tax Schedule ID appears as a default. However, a Tax Schedule ID can be entered or selected for a return or credit memo to credit back a tax amount. The default tax schedule is based on the type of shipping method. If the shipping method has a shipping type of delivery, the company tax schedule appears as the default entry. If the shipping method has a shipping type of pickup, the Tax Schedule ID assigned to the creditor appears as the default entry. Some countries do not tax purchases. To avoid calculating taxes on purchases, do not enter a Tax Schedule ID. Click the Tax Schedule ID expansion button to open the Payables Tax Schedule Entry window. Use this window to specify separate schedules for purchase, freight and miscellaneous amounts. These fields default from entries made in the Payables Setup Options window. These schedules are compared to the tax schedule on the transaction to determine which tax details are calculated. Transaction Amounts: Enter the purchase amount. Trade discounts are calculated automatically for invoices if a discount percentage is entered for the selected creditor in the Creditor Maintenance Options window. A discount amount can be entered for any other type of transaction, but no amount is calculated automatically. To merge the trade discount distributions with the purchase distributions, select Merge Trade Discount Distributions in Purchasing in the Company Setup Options window. For example, assume that a payables invoice transaction of $100 with a trade discount of $15 is entered. 55

56 If this option is selected trade discount distributions are merged as follows: Account Debit Credit Purchases $85.00 Accounts Payable $85.00 If this option is not selected, the trade discount distributions are separated from the purchase distribution as follows: Account Debit Credit Purchases $ Trade Discount $15.00 Accounts Payable $85.00 Enter any freight and miscellaneous charges that apply to this purchase. Freight and miscellaneous charges can have a unique tax schedule assigned instead of the one used for purchases. By entering freight and miscellaneous charges these amounts can be tracked separately from the purchase amount. For example, if $500 of equipment is purchased from a creditor and the freight to ship it to the company is $50, there are two options on how to enter the transaction: Enter a purchase amount of $550. Enter a purchase amount of $500 and a freight amount of $50. In the second case, freight amounts can be viewed and analysed. In the first case, the freight amount is included in the purchase of the equipment. Accounting laws and generally accepted accounting principles in a country should be used to determine how to handle this type of transaction. Tax Amounts: Taxes are calculated automatically, based on tax schedules and shipping information. Click the Tax expansion button to open the Payables Tax Detail Entry window. 56

57 17. Payables Tax Entry Window. Use this window to: View the tax details applied to the transaction. Change or add details. Change the posting account. Change the tax amount. Change the total purchase and total taxable purchase amounts if Show Details is selected. When the system calculates tax on a transaction, it compares the tax schedules assigned to the transaction (which defaults in the Tax Schedule field of Payables Transaction Entry based on the shipping method) to the Tax Schedules defined in Payables Setup Options (accessible by clicking the Tax Schedule expansion button). Shipping Method Pickup Purchase Tax Schedule ID compared to: Creditor Tax Schedule ID Delivery Company Tax Schedule ID 57

58 The system then checks for tax details that match between the two tax schedules. Taxes are calculated only for the tax details that match. Payment Information: If a payment is made for all or part of the purchase amount, and the payment is not on account, enter the amount as cash, cheque or a credit card payment. If a cash amount is entered, the Payables Cash Entry window opens where detailed information about the payment can be entered. The payment number generated by the system can be adjusted and a document number can be entered for the payment, this usually is a receipt number. When a Cheque is issued, the Payables Cheque Entry window opens where the Cheque Number can be entered and a payment number can be assigned. The payment number defaults; based on settings in the Payables Setup Options window. If a Credit Card is used as payment for the transaction, the Payables Credit Card Entry window opens. Select the Card Name, enter the credit card number, and assign a payment number. A receipt number can also be entered for the credit card, typically the confirmation or authorization number which appears on the credit card receipt. Once payment information is recorded, click OK to close the window and return to the Payables Transaction Entry window. 58

59 Print a Cheque: If a cheque amount is entered, click Print Cheque to open the Print Payables Transaction Cheques window and generate a computer cheque. If Print Cheque is not selected, the cheque is recorded as a manual cheque. 18. Cheque Entry Window. Select Chequebook ID Accept the cheque number displayed or change the cheque number, if the chequebook is set up to allow cheque numbers to be overridden. Select Cheque Date 59

60 Click on Print Check to open the Print Payables Transaction Cheque 19. Print Payables Transaction Cheque Window. Accept the cheque number displayed or change the cheque number, if the chequebook is set up to allow cheque numbers to be overridden. Select a cheque format. The format selected in Payables Management Setup appears as the default. To print a remittance separately, mark the Separate Remittance box. A remittance prints after the cheque and shows the same detail as the cheque stub. Select to print a Stub Alignment Form or the print a cheque. The default is to print a cheque. Printing an alignment form first ensures the cheque form is properly aligned in the printer. Xs are printed in place of the actual cheque information. When the form is aligned correctly, select the Cheque button, and then click Print to print the cheque. 60

61 Select to print the Remittance Form and the Destination. Both Print Document and Send Document in can be selected, then Click Process. Voiding a cheque can be necessary if the cheque is not printed properly. To void the cheque, click the Print button again. The first cheque printed is voided and a new cheque can be printed. Enter the new cheque number. If it is not necessary to void the cheque, close the window. Apply Credit Memos or Returns: When a credit memo or return is entered, the amount credited or returned can be assigned to the original transaction or to another transaction to reduce the liability. Click Apply on the Payables Transaction Entry window to open the Apply Payables Documents window. 20. Apply Payables Document Window. 61

62 Only posted transactions appear in the scrolling window. Apply a credit memo or return using one of the following methods: Apply Method Auto Applying Information Click Auto Apply to apply the credit memo or return to all or as many documents as the amount of the credit memo or return allows. Any available discount is taken if the unapplied amount is large enough to pay off the transaction. Documents are applied according to the method selected in the Payables Management Setup Window: Document Date or Due Date. Applying to specific information To apply the document to specific transactions, select the check box in front of each transaction. Select as many documents as desired until the entire amount is applied. Applying specific amounts To divide the credit memo amount or return between transactions, or to apply only a part of the credit memo or return, enter the amount to apply in the Applied Amount field. Use the Hide and Show buttons to enter a discount taken or write off amount. Distribute to Posting Accounts: To view or change the distributions, click the Distributions button on the Payables Transaction Entry window to open the Payables Transaction Distribution Entry window. 21. Payables Transaction Entry Distribution Window. 62

63 Check that the invoice amounts are allocated to the correct posting accounts, and make any adjustments. The distributions are based on the amounts entered in the Payables Transaction Entry and Apply Payables Documents windows and are displayed as defaults. Use the Show Details button to access the Distribution Reference field. Use this field to record a reference specific to each individual distribution. These references appear on the General Ledger Trial Balance reports. The transaction is distributed automatically to the posting accounts assigned in the Creditor Account Maintenance window when setting up creditor records. If no accounts are assigned when setting up creditor records, the accounts assigned in the Posting Accounts Setup window are used instead. If no accounts are defined in either location, then no accounts default in the distribution window. The Type field on the distribution window must match the figures from the Payables Transaction Entry and Apply Payables Documents windows. For example, if $5.00 for freight is entered on the first window, there must be a distribution for $5.00 with a costing account and type of FREIGHT on the distribution window or the transaction cannot be posted. The two ways to edit the distributions are: Manually change the figures in the distribution window. Click the Default button to reset all distributions to the default posting accounts and types. Each method can be used to change the General Ledger distribution accounts and amounts. However, the second method does not work if, previously, the posting accounts are changed because they revert to the original default accounts. If accounts and amounts are entered incorrectly, use this method to start the process over again from the initial defaults. To enter an account number using the account alias, click the Account Number expansion button and enter the alias. This pulls the account number on the Payables Transaction Entry Distribution window. If additional purchase accounts are set up to appear as default entries during transaction entry, those accounts appear in this window with a $0.00 amount. The following table shows the accounts and amounts that default when transactions are entered. Purchase Accounts that default when entering transactions: 63

64 Purchase account exists in Creditor Account Maintenance Additional Purchase Creditor Account Exist Purchase Accounts exist in Posting Account Setup Default Accounts when transactions are entered Yes No Yes or No Purchase account from Creditor Account Maintenance with the purchase amount. Yes Yes, with no accounts chosen to Default on Trx Yes or No Purchase account from Creditor Account Maintenance with the purchase amount Yes Yes, with some accounts chosen to Default on Trx Yes or No Purchase account from Creditor Account Maintenance with the purchase amount. Purchase accounts from the Additional Creditor Accounts window that are chosen to Default on Trx default with zero amounts No No No Purchase account is blank with the purchase amount No Yes, with no accounts marked to Default on Trx Yes or No Purchase account is blank with the purchase amount No Yes, with some accounts selected to Default on Trx Yes or No Purchase account from the Additional Creditor Accounts window that are selected to Default on Trx with zero amounts No No Yes Purchase Account from Posting Setup with Purchases amount Print Documents and Edit Lists: To print documents for record keeping purposes, select the document and click Print. When using batch posting, always print an edit list before posting to verify the accuracy of the batches entered. Edit lists can be printed only for transactions entered in a batch. To print an edit list, select Print from the File menu or click the Printer icon. Print an edit list from either the Payables Transaction Entry window or the Payables Batch Entry window, as long as a Batch ID is entered in the window. If errors are identified on the edit list, (system errors are denoted by an asterisk, and include errors such as Distributions do not balance and Financial Period for posting date is closed), correct the transactions and print another edit list before posting. 64

65 Correcting Transactions: To correct a transaction prior to posting a batch, pull up the transaction either by entering the voucher number or clicking the voucher number lookup window to select it from the list. Also, use the browse buttons to browse through all of the batched documents. To edit a transaction before posting, select the transaction, make the necessary edits, and save the transaction. To delete a transaction, select it and click Delete. A transaction can be reassigned to a new batch by pulling up the transaction and changing the Batch ID. It might be advantageous to transaction-level post a transaction that is previously assigned to a batch. To do this, pull up the transaction, remove the Batch ID, and click Post. Post Single Transaction or Save to a Batch: If entering transactions individually (without a Batch ID), they must be posted selecting the Post button. To post at the transaction level, select Allow Transaction Posting in the Posting Setup window. If entering transactions in a batch, click Save to save the transaction in the batch. When the Payables Transaction Entry window is closed, the transaction posting journals are printed for all transactions posted using the transaction-level method since the window was opened. Turn off the printing of any of these posting journals in the Posting Setup window. Post Batches: Payables Transaction Entry batches can be posted from the Payables Batch Entry, Purchasing Series Posting or Master Posting windows. Depending on the way the Microsoft Dynamics GP system is set up, posting journals can or cannot be printed when batches are posted. These audit trail reports are optional; select to print them when setting up the Microsoft Dynamics GP system. These reports can be turned off in the Posting Setup window. If using General Ledger and Payables Management and the selection made is to post the batch to General Ledger, information is posted from Payables Management into a batch in General Ledger. If the selection made is to post transactions through General Ledger, the transactions post directly to the General Ledger files and appear on General Ledger reports. Transactions typically update the Payables Open Transaction file during the posting process. However, if the invoice is fully paid or fully applied (credit memo, return or payment), the documents update the History file during the posting process. To keep the numbering scheme for temporary creditors similar to active creditors, it is not necessary to use this feature. Set up the temporary creditor in the same manner as active creditors, but select a status of temporary. If the payables transaction is entered in a recurring batch, payment information cannot be recorded for it. Only transactions on account can be saved in a recurring batch. If the invoice total is paid in full, both the invoice and the cheque are transferred to history during the posting process. 65

66 To see separate distributions for the document and the payment, select Separate Payment Distributions in the Company Setup Options window. For example, assume that a payables invoice transaction of $100 with a cash payment of $20 is entered. The payment is distributed as follows: Account Debit Credit Purchases $ Accounts Payable $ Accounts Payable $20.00 Cash $20.00 If this option is not selected, the distributions of the same type with the same account number are combined as follows: Account Debit Credit Purchases $ Accounts Payable $ Accounts Payable $20.00 Cheques cannot be printed for transactions that are entered in recurring batches. When using the apply to window to enter amounts to write off GST discounts taken (used in New Zealand) or write off a withholding amount (used in Australia), enter these amounts manually. You can zoom from the Discount Taken, Discount Available or Write off fields to the Additional Tax and Write off Distributions window to enter these amounts. For more information about entering a GST discount and a withholding amount deduction, refer to the online Payables Management reference manual. When using the Apply to Window, if the invoice total is applied in full, both the invoice and the credit memo or return is transferred to history when you post. When transactions are moved to history, they are still accessible but no longer appear on the Aged Trial Balance. If the distribution window is used to enter distributions, and then later changes are made on the transaction entry window, open the distribution window again to change the distributions and match the changes made. This window is not continuously updated as the transaction is being edited in the transaction entry window. 66

67 To remove an entire line from the distribution window, select Edit then Delete Row from the Edit menu. Unit accounts can be distributed to Payables Transaction Entry; however these distributions do not affect the totals or balance of a transaction. All unposted Payables Transaction Entry transactions saved in a batch appear in the Vouchers lookup window. When posting at the transaction level, transactions do not post through General Ledger; instead they post to General Ledger, regardless of how it is selected in Posting Setup. The audit trail reports for individually posted transactions are generally the same as the audit trail reports for transactions posted in batches. The reports for individually posted transactions, however, contain information only for those transactions entered and posted since the transaction entry window was opened. All Payables Posting Journals can be reprinted at any time, as long as history is being maintained. Click the Hide Details button to easily locate the document in the Apply Payables Documents window. 2.4 Workflow Payables Management Approval ADMINISTRATION > SETUP > COMPANY > WORKFLOW > WORKFLOW MAINTENANCE MICROSOFT GP > SETUP > COMPANY > WORKFLOW > WORKFLOW MAINTENANCE 67

68 Workflow in Microsoft Dynamics GP enables you to define approval processes that must be completed before the task or process that's approved can be completed. Each workflow defines how a document "flows" through the system by showing who must approve it, and the conditions under which they must approve it. In additional to the many Workflow approvals released in GP2015, GP2015 R2 now offers a workflow type for Payables Management Invoice approval in Workflow Maintenance. 68

69 The Payables Transaction Approval workflow type will allow you to submit and approve each transaction in the Payables Transaction Entry window. Approval is also available through the notification and the navigation lists. The PM Batch Approval workflow type is still available as well. 2.5 Workflow Document Attachment ADMINISTRATION > SETUP > COMPANY > WORKFLOW > WORKFLOW MAINTENANCE > WORKFLOW STEP MICROSOFT GP > SETUP > COMPANY > WORKFLOW > WORKFLOW MAINTENANCE > WORKFLOW STEP 69

70 When a document has been added to a transaction or record using the Microsoft Dynamics GP Document Attachment feature, these attachments can be sent with the workflow task notification . This feature is available for PM Batch Approval, Purchase Order Approval, Purchase Requisition Approval, Creditor Maintenance, and the new workflow type, Payables Transaction Approval. For example, you can now enter a payables invoice, scan in and attach the record from the Creditor, then submit the invoice for approval. When the approver receives the , they will get the invoice information and the attachment will show the scanned invoice from the Creditor. 2.6 Scheduled Payments Entry TRANSACTIONS >> PURCHASING >> SCHEDULED PAYMENTS NAVIGATION PANE >> PURCHASING >> TRANSACTIONS >> SCHEDULED PAYMENTS Use the Payables Scheduled Payment Entry window to: Create payment schedules for creditor invoices that are paid on an instalment basis. Calculate interest and amortisation amounts. Perform what-if analysis in determining the viability of different interest rates, payment amounts and frequencies, and number of payments. 22. Payables Scheduled Payments Window. 70

71 When making large purchases or purchases that are delivered over time, it might be necessary to make payments to a creditor on an instalment basis. With Scheduled Payment functionality it is possible to select the interest rate, payment frequency, and other information when a payment schedule is created and a payment schedule can be created using any posted document. Payment schedules may vary based on the creditor or the kind of goods or services that are being purchased. Any information can be edited on unposted payment schedules, as well as the interest and number of payments for posted payment schedules. Schedule Number and Description: The next schedule document number defaults from the Payables Management Options Setup window and can be edited before moving away from the Schedule Number field. Each scheduled payment is required to have a unique number; therefore duplicate schedule numbers cannot be used. Enter a description for this scheduled payment. The Schedule Description field is 30 characters in length, and should be used to easily identify the schedule. Original Document Information: Enter or use the lookup window to select the original payables transaction used to create a payment schedule. Transactions are selected by the Original Document Number. An original creditor invoice cannot be entered in this window; it must be posted previously in Payables Management. Once the document is selected, the Document Type, Creditor ID and Creditor Name are displayed in the window. Schedule Document Date/Schedule Amount: When an invoice is selected, the General Ledger posting date from the original transaction defaults as the schedule document date. The schedule amount is the original amount of the invoice, net of any applied credit memos or payments. Payment and Calculation Fields: Interest Type Select Compound if this payment schedule is calculated using compound interest. Select Simple if this payment schedule is calculated using simple interest. Simple interest is calculated from the first payment rather than the schedule date. Schedule Interest Rate Enter the interest rate being paid on this scheduled payment. The rate entered here is the annual interest rate and is used when calculating the amortisation schedule. Number of Payments and Payment Frequency Enter the number of payments for this payment schedule and the frequency of those payments. Numerous frequencies are supported. 71

72 Calculated Payment Amount After information is entered in the fields for Interest Rate, Number of Payments and Payment Frequency, click Calculate to get a calculated payment amount. If a data entry error is made on a field such as the number of payments, make the correction and click Calculate again for the system to recalculate the payment amount. To recalculate the payment amount, change the data in the Interest Rate, Number of Payments or Payment frequency field and select Calculate. The payment amount can be recalculated an unlimited number of times until the schedule is posted. By analysing many rates, frequencies and payment amounts, determine the schedule most suitable for the company. Amortisation Schedule: An amortisation schedule is generated when the monthly payment amount is calculated for a payment schedule. To view the amortisation amounts click the Amortisation button in the Payables Scheduled Payments Entry window. 23. Payables Amortisation Schedule Window. To print the amortisation schedule click the Printer icon in this window or select Print from the File menu. Click OK to close the Payables Amortisation Schedule window. Invoice Document and Due Dates: The First Invoice Document Date is the date of the first invoice in the payment schedule. The date defaults from the General Ledger posting date of the original invoice and also defaults as the Schedule Document Date. Used in conjunction with the payment frequency selected, this determines the document date for each invoice within the payment schedule, and can be edited until the schedule is posted. For example, if the First Invoice Document Date is 7/16/2017, and the payment frequency selected is monthly and the number of payments is 12, the document date for each invoice in the schedule is as follows: 72

73 Invoice Number Document Date 1 16/7/ /8/ /9/ /10/ /11/ /12/ /12/ /1/ /2/ /3/ /3/ /4/2018 The system calculates the First Invoice Due Date based on the payment terms associated with this creditor. For example, if the payment terms with this creditor are Net 30 and the invoice date is 07/16/2017, the First Invoice Due Date is 8/16/2017. This date can be changed until the payment schedule is posted. Posting Accounts: When payment schedules are created, specific accounts must be defined to distribute the interest and principal portions when payments are posted. The following chart shows what accounts to use and how they are debited and credited when the Payment Schedule is posted. Account Debit Credit Accounts Payable Schedule Amount Payables Offset Schedule Amount The following chart shows what accounts are used and how they are debited and credited when Payments are posted. 73

74 Account Debit Credit Accounts Payable Principal portion of the total amount + Interest portion of the total amount Payables Offset Principal portion of the total amount Interest Expense Interest portion of the total amount The Accounts Payable account defaults from the Posting Accounts Setup window. The Payables Offset and Interest Expense accounts may vary for each transaction. For example, if a computer system is purchased, select the Computer Equipment account as the Payables Offset account and Interest Expense as the Interest Expense account. Saving and Posting: Once a payment schedule is created, it can be posted immediately or saved and posted at a later date. If the scheduled payment is saved, post the scheduled payment as a single transaction at a later time to create the individual scheduled payments for posting. Scheduled Payments are entered as single transactions and are posted by selecting the Post button. During the posting process a credit memo for the amount remaining on the invoice is applied to the original document resulting in a $0.00 balance and the scheduled payments replace the original document. 2.7 Post Scheduled Payment MICROSOFT DYNAMICS GP >> TOOLS >>ROUTINES >> PURCHASING >> POST SCHEDULED PAYMENTS NAVIGATION PANE >> PURCHASING >> ROUTINES >> POST SCHEDULED PAYMENTS Use the Post Scheduled Payment Entry window to post individual payments in a payment schedule. 74

75 24. Post Scheduled Payments Window. Each individual payment in the payment schedule must be posted to the creditor account based on the payment frequency of the schedule. For example, if a schedule for a monthly car payment is created, then the payment needs to be posted each month to accurately reflect the amount owed to the creditor. Use the Post Payables Scheduled Payments window to post the payment. Payments can also be posted for future scheduled payments, instead of posting them individually each month. Range: All scheduled payments are displayed in the Post Payables Scheduled Payments window. Filter the items shown in the window by clicking the drop-down menu and selecting either Schedule Number or Creditor ID and restricting the number of items in the window. Click Redisplay after selecting a range. Due Date Cutoff: To view payments that are due by a certain date, enter a Due Date Cutoff and select Redisplay. Only the payments due up until the date entered are displayed in the window. Select the payments to be posted. Use the Mark All or Unmark All buttons to select a range of documents. Payments marked and posted appear on the aged trial balance report and other creditor account reports. Once payments are selected, change the Display from All to Marked and only items selected for posting appear in the scrolling window. 75

76 An edit list is not available since batches are not used in this window, so displaying only the selected payments is a good method to ensure the correct entries are selected. Once the payments to be posted are selected, click Post. When the payment is posted the Payables Offset and Interest Expense accounts are debited and the Accounts Payable account is credited. An invoice with the transaction type of SCHED is posted to the creditor account. Depending on the way the Microsoft Dynamics GP system is set up, the posting journals can or cannot be printed when the scheduled payment is posted. 76

77 Entering Payments Section Outcomes At the end of this section participants will be able to: Entering Payments Enter manual payments and apply them to other documents Pay creditors using computer cheques, Credit Cards and/or EFTs Select invoices for payments Edit batches of computer cheques/efts Remove or add a creditor from a computer cheque / EFT batch Remove or add an invoice from a computer cheque / EFT batch Print, post and/or process remittances for a computer cheque / EFT batch Apply payments and credits to invoices or other debit documents Recover from a posting interruption in Payables Management 77

78 3.1 Introduction Payments can be entered several different ways in Microsoft Dynamics GP Payables Management. Manual payments can be entered and applied to invoices, and can take the form of cash, cheque or credit card. Prepayments can also be entered as manual payments, and then left unapplied until the invoice is entered. Payments can also be recorded by generating an EFT file or by cheque using several different windows in Payables Management, and the payments by cheque can also be entered in Payables Transaction Entry when recording an invoice. These payments are discussed in the Daily Procedures section of this training. Manual Payments and Prepayments are the focus of this training. 3.2 Payables Manual Payment Entry TRANSACTION >> PURCHASING >> MANUAL PAYMENTS NAVIGATION PANE >> PURCHASING >> TRANSACTION >> MANUAL PAYMENTS Use the Payables Manual Payment Entry window to: Enter, change, or delete credit card payments, cash payments, manually written cheques or manual EFTs. Record payments against previously posted invoices, miscellaneous charges, or finance charges. Record prepayments or deposits. If writing a manual cheque, creating a manual EFT, or paying by cash or credit card, it is recommended that the payment is recorded to ensure a duplicate payment is not made when it comes time to pay vouchers using computer cheques. USE batches to group similar transactions and to post all transactions at once into both Payables Management and the General Ledger. Create a batch in the Payables Batch Entry window (recommended) or enter a manual payment as a single transaction. Refer to the training on batch entry for information on creating batches in Payables Management. A new batch can also be added from Payables Manual Payment Entry by entering a new Batch ID. 78

79 25. Payables Manual Payment Entry Window. Manual payments entered can be applied to existing invoices using the Apply button or they can be posted and then applied later in the Apply Payables Document window. Prepayments can also be recorded using this window. Enter an amount and post the payment unapplied to record a prepayment to a creditor. A cheque cannot be printed from this window. If a cheque needs to be printed, use the computer cheque windows to generate a cheque document. Payment Number A payment number identifies any cheque, cash, or credit card payment. The payment number appears on the edit lists, posting journals and audit trail reports. Use these numbers on the audit trail documents to trace the history of any specific document. The next payment number specified in the Payables Setup Options window appears as the default for manual payments and computer cheques. The payment number can be changed, but the system continues defaulting numbers based on the entry in the Payables Setup Options window. However, the same payment number cannot be posted twice. Date Enter the date of the payment. This is the date the payment is posted in Payables Management. The selections made in Posting Setup determine which date is used when the payment is posted to the General Ledger. If posting to the General Ledger using the transaction date or, if posting using transaction-level posting, the Date expansion button is available. 79

80 Click the expansion button to open the Payables Date Entry window. In this window, a posting date different than the document date can be entered. Otherwise, the posting date defaults to the document date. If selecting to post to the General Ledger using the batch date and a Batch ID is assigned to this transaction, the Date expansion button is not available. The posting date for the transaction uses the date assigned to the batch in the Payables Batch Entry window. Batch ID and Batch Total Enter the Batch ID for the batch to save this payment to. Do this by clicking the Batch ID lookup button and selecting the batch from the list, manually typing in the Batch ID, or entering a new Batch ID. When entering a new Batch ID, follow the system prompts to add the batch. To post a transaction using transaction-level posting leave the Batch ID field blank. If a batch is created in the Payables Batch Entry window with an origin of Manual Payment and the Transactions button is clicked, the Batch ID is automatically displayed in this field. Click the Batch ID expansion button to open the Payables Batch Entry window and then add, change or view information about the selected batch. The Batch Total field displays the amount of all the payments in the batch selected. Creditor ID Enter a Creditor ID or select it from the lookup list. Add a new creditor record by entering a new Creditor ID. Follow the system prompts to enter the information needed to add the creditor record. To add a temporary creditor, place the insertion point in the Creditor ID field and then select Temporary Creditor from the Options menu. The next temporary number specified in the Payables Setup Options window appears as the default. Each time a temporary creditor is added, the default temporary number increments by one. Currency ID If Multicurrency Management is being used, enter the Currency ID for this manual payment. The functional currency is the default when the window is opened. If a Creditor ID is selected that has another Currency ID assigned, the default currency changes to the one assigned to the creditor. Click the Currency ID expansion button to open the Exchange Rate Entry window. Use this window to view or modify exchange rate information for the transaction. Payment Method Select the appropriate payment method. The selections are cash, cheque or credit card. If entering a credit card payment, enter the card name or select it from the Credit Cards lookup list. If entering a cash or cheque payment, enter the Chequebook ID or select it from the chequebook lookup window. 80

81 Document No. and Amount Enter a document number for the payment. The document number is the identifying number assigned to each payment. If paying by cheque, the next available cheque number for the specified chequebook is the default document number. If making the payment using cash or a credit card, the payment number defaults as the document number. If desired, the default document number can be changed. Enter the payment amount in the Amount field. The amount entered here defaults as the unapplied amount. Comment Enter the comment that appears on the cheque or payment. If posting transactions to General Ledger, the transaction comment appears as the reference in General Ledger. Discount and Amount Fields The Terms Discount Available and Terms Discount Taken fields display the payment terms available and the amounts taken for the vouchers this payment is applied to. The Writeoff field displays any amount written-off for applied vouchers. The Unapplied, Applied, and Total fields display the total amount paid to the creditor, broken out by the applied and unapplied amounts of the payment. For example, if the full payment amount of $75.00 is applied to a voucher, the applied amount is $75.00, the unapplied amount is $0 and the total is $ Apply the Payment When a payment is entered, the payment amount can be assigned to a specific transaction or group of transactions to reduce liability. When making a manual payment, click the Auto Apply button on the Payables Manual Payment Entry window to apply the payment to as many documents as the amount of the payment allows. Documents are applied according to the option selected in the Payables Management Setup window; either by document date or due date. For additional information on applying documents in Payables Management, review the lesson on applying documents found later in this training. To record the invoice and payment at the same time, use the Payables Transaction Entry window instead of this window to record the payment (except for EFTs they cannot be invoiced and paid at the same time through the Payables Transaction Entry window. Payments cannot be entered into a recurring batch. To keep the numbering scheme for temporary creditors similar to active creditors, do not use this feature. Set up the temporary creditor in the same manner as active creditors, but use a status of Temporary. 81

82 3.3 Apply to Specific Documents TRANSACTION >> PURCHASING >> MANUAL PAYMENTS >> APPLY BUTTON NAVIGATION PANE >> PURCHASING >> TRANSACTION >> MANUAL PAYMENTS >> APPLY BUTTON To pay specific outstanding transactions, click the Apply button to open the Apply Payables Documents window. 26. Apply Payables Documents Window. Only posted transactions for the specified creditor appear in the scrolling window. Payments can be applied using one of the following methods: 82

83 Apply Method Auto Applying Apply Information Click the Auto Apply button to apply the payment to all or as many documents as the amount of the payment allows. Any available discount is taken if the unapplied amount is large enough to pay off the transaction. Documents are applied according to the method selected in the Payables Management Setup window: Document Date or Due Date. Applying to specific transactions To apply the document to specific transactions, select the check box in front of each transaction. Select as many documents as desired until the entire amount is applied. Applying Specific Amounts To divide the payment between transactions or to apply only a part of the payment, enter the amount to apply in the Applied Amount field. Use the hide and show buttons to enter a discount taken or write-off amount. If documents are fully applied, they are transferred to history when posted. If the payment entered is a prepayment, do not apply it to any documents. Instead, apply it at a later date using the Apply Payables Documents window. To keep the numbering scheme for temporary creditors similar to active creditors, do not use this feature. Set up the temporary creditor in the same manner as active creditors, but use a status of Temporary. 3.4 Distribute to Posting Accounts TRANSACTION >> PURCHASING >> MANUAL PAYMENTS >> DISTRIBUTION BUTTON NAVIGATION PANE >> PURCHASING >> TRANSACTION >> MANUAL PAYMENTS >> DISTRIBUTION BUTTON To view or change the distributions, click the Distribution button to open the Payables Transaction Entry Distribution window. Be sure the payment amounts in this window are allocated to the correct posting accounts, and make any necessary adjustments. The distributions are based on the amounts entered in the Payables Manual Payment Entry and Apply Payables Documents windows and are displayed as defaults. 83

84 27. Payables Transaction Entry Distribution Window. The transaction is distributed automatically to the posting accounts assigned in the Creditor Account Maintenance window when setting up creditor records. If accounts are not assigned when setting up creditor records, the accounts assigned in the Posting Accounts Setup window are used instead. If accounts are not defined in either location, then no accounts default in the distribution window. The Type field on the distribution window must match the figures from the Payables Manual Payment Entry and Apply Payables Documents windows. For example, if a $50.00 write-off is recorded, there must be a distribution for $50.00 with a posting account and type of WRITE on the distribution window. Two options are available to edit the distributions. One option is to manually change the figures in the distribution window. The other option is to click the Default button to reset all distributions to the default posting accounts and types. However, this method does not work if the posting accounts are previously changed because they revert to the original default accounts. 84

85 Post Single Transactions or Save to Batch If entering payments individually (without a Batch ID), they must be posted at this point by clicking the Post button. To post at the transaction level, select Allow Transaction Posting in the Posting Setup window for this origin. If entering transactions in a batch, click Save to save the transaction in the batch. When the Payables Manual Payment Entry window is closed, the posting journals are printed for all payments posted using the transaction-level method since the window opened. Turn off the printing of any posting journals in the Posting Setup window, if journals are not needed. Print an Edit List When using batch posting, always print an edit list before posting to verify the accuracy of the batches entered. Edit lists can be printed only for manual payments entered in a batch. To print an edit list, select Print from the File menu or click the Printer icon. An edit list can be printed from either the Payables Manual Payment Entry window or the Payables Batch Entry window, as long as a Batch ID is entered on the window. To correct a payment prior to posting a batch, pull up the payment either by typing in the payment number or clicking the payment number lookup window to select it from the list. The browse buttons can also be used to browse through all of the batched documents. To edit a payment before posting, select the payment, make the necessary edits, and save the payment. To delete a payment, select it and click Delete. A payment can also be reassigned to a new batch by pulling up the payment and changing the Batch ID. To transaction-level post a payment that is previously assigned to a batch, pull up the payment, remove the Batch ID, and click Post. Post the Batch Payables Manual Payment Entry batches can be posted from the Payables Batch Entry, Purchasing Series Posting, or Master Posting windows. Depending on how the Microsoft Dynamics GP system is set up, posting journals can be printed when batches are posted. These audit trail reports are optional; select to print them when the Microsoft Dynamics GP system is set up. These reports can be turned on or off in the Posting Setup window. If using General Ledger and Payables Management and the batch is posted to General Ledger, debit and credit information is posted from Payables Management into a batch in General Ledger. If transactions are posting through General Ledger, the transactions post directly to the General Ledger accounts and appear on General Ledger reports. 85

86 If the distribution window is used to enter distributions, and then later changes are made on the Payables Manual Payment Entry window, the distribution window must be opened again to change the distributions to matchthe changes made on the main window. This window is not continuouslyupdated as transaction information is edited. Unit accounts can be distributed to; however they do not affect the totals or balance of a transaction. When posting at the transaction level, payments do not post through General Ledger, but instead post to the General Ledger, regardless of what is selected in Posting Setup. All unposted Payables Manual Payment Entry transactions saved in a batch appear in the Manual Payment lookup window. 3.5 EFT & Chequw Payment Run Build Payment Batch TRANSACTION >> PURCHASING >> BUILD PAYMENT BATCH NAVIGATION PANE >> PURCHASING >> TRANSACTION >> BUILD PAYMENT BATCH Use Payables Management computer EFT and/or cheque processing to select which invoices to pay and how much to pay on specific invoices, review a Computer EFT/Cheque Edit List, and to also print cheques and/or remittances quickly. Before paying creditors, print the Aged Trial Balance or Cash Requirements report to determine which payments need to be made to take advantage of discounts and avoid late payments, and how much cash is required to do so. If a report is not going to be printed, use the enquiry windows to help decide which creditors and invoices to pay. Apply any payments, returns and credit memos that are unapplied using the Apply Payables Documents window. If this step is not going to be performed, have the system automatically apply these using the Build Payment Batch window. The Apply Payables Document window is covered later in this training. Apply documents during the transaction entry process, or by using the Apply Payables Document window after the transactions are posted. Finally, create a batch in the Payables Batch Entry window. Refer to the training on batch entry for information on creating batches. 86

87 Build Payment Batch Multiple options are available via a drop down for selecting creditors and invoices to create computer Cheques/EFTs. Use the Build Payment Batch window to quickly select ranges of creditors and invoices to pay. 87

88 Batch ID Enter the Batch ID for the batch of computer cheques. If the Batch ID exists click the lookup button and select the Batch ID from the list, If this is a new Batch ID manually type in an ID in the Batch ID field. When entering a new ID, follow the system prompts to add the batch. Click on Add to add the batch Select the Chequebook ID then press the SAVE button. You now get a pop-up window asking you to select the batch type Click OK 88

89 Make your payment selection based on how you wish to pay. 28. The BankPro EFT Batch Status Window. There are 4 options in this window to select from for batch payment processing: EFT & Cheque Run (Recommended Option) Select this option when you want to pay all your selected creditors in the payment run. When you build a batch, the system will automatically generate payments for EFT Creditors and put them in the EFT Batch and then generate payments for Cheque Creditors and put them in the Cheque Batch. The Batch ID you originally entered in creating the payment batch is automatically the EFT Batch ID. You need to enter a Cheque Batch ID which is not the same as the EFT Batch ID when you select this option. EFT Run Select this option when you want to pay only selected creditors for payment that use EFT for payment processing. Your Original Batch ID is the Batch ID for the EFT run. Cheque Run Select this option when you want to pay selected creditors for payment by cheques only. Your Original Batch ID is the Batch ID for the Cheque run. All Cheques (Ignore EFT) Select this option when you want to pay all selected creditors for payment by cheques only, even if your creditors are marked to be paid by EFT. This option ignores the EFT settings for creditors and pays all selected creditors by Cheque. An example of this option would be for when EFT banking systems are down and you need to release payment to clients right away. Your Original Batch ID is the Batch ID for the Cheque Run. 89

90 Saving the Batch ID will close this window and enable you to select the creditors you wish to pay. 29. Build Payment Batch Window. Unapplied payments and credit memos can be applied automatically. To generate a cheque and/or an EFT for an individual creditor or invoice, use the Edit Payment Batch window; this window can also be used to edit a batch that is created in the Build Payment Batch window. Use either window to create as many batches of cheques and/or EFTs as needed. Use the Payment Option ID field to save entered restrictions for easy recall at a later date. If you do more complex batch building, such as using Creditor Class, Payment Priority, or a combination of restrictions, then this option will save you a little time on every payment batch created. You will be prompted to save your Payment Option ID when you click on the Build Batch button 90

91 Select by Creditors and Documents To pay a limited number of creditors, a range of creditors can be selected to pay. Creditor ranges can be restricted by: Creditor ID Creditor Name Class Payment Priority Select a range of documents by voucher number or by document number. Only vouchers for the creditors selected in the previous step are included in the range. 91

92 Select Due Date and Discount Date Cut-offs If Due Date is selected in the drop down, all the vouchers for the selected creditors that are due on or before the date specified are included in the batch. NOTE: You must Insert the Restriction If a due date cut-off is selected, the Discount Date Cutoff field becomes available. If Discount Date is selected as the discount cut-off date, all vouchers for the selected creditors with a discount date on or before the date specified are included in the batch. If All is selected, all vouchers with discounts available are included in the batch. Select Documents If Multicurrency Management is being used, make a selection in this field. This provides an opportunity to narrow the range of documents to pay. To be paid, documents must meet all the other criteria specified in this window and the option selected here. The options change depending on whether the Currency ID assigned to this batch is the functional currency or a foreign currency. One Cheque Per Select whether to issue one cheque per creditor regardless of the number of invoices it pays, or a separate cheque prints for each invoice selected. Apply Fields Select to have any available posted and unapplied payments, credit memos and returns applied automatically to the vouchers in the batch. Documents are applied in Payables Management according to the Apply By method selected in the Payables Management Setup window; either Document Date or Due Date. The currency of the documents automatically applied can also be specified. Depending on whether the batch currency is the functional currency or another currency, this currency selection prompts change to how any documents are applied. The Apply Date field displays the date used to determine whether discounts are available when processing cheques. Other Options If the Take Non-Qualifying Discounts option is selected, all discounts are calculated for the vouchers selected, regardless of the discount date. If this option is not selected, only discounts available on or before the discount date are taken. If the Pay Only Minimum option is selected, then the minimum payment entered in the Creditor Maintenance window is used to calculate the cheque amount for each selected creditor in the batch. If the Pay Only Minimum option is not selected, cheques are printed for the total amount of the vouchers included in the batch. Remittance Options Use the List Documents field to select the information that appears on the remittance and cheque stub. A remittance shows the same detail as the cheque stub and is printed on blank paper after the cheques are printed. The default selection for this field is set up in the Payables Management Setup window. 92

93 Select how the documents appear on the remittance or cheque stub by using the Sort Documents field. This defaults to the setting specified in the Payables Management Setup window. If Date is selected, the documents are listed in document date order. If Number is selected, the documents are listed in document number order. If the Print Previously Applied Documents option is selected, documents such as credit memos, returns or earlier payments can be shown on the remittance for the computer cheque. If a due date cut-off is used in the selection process, a due date cut-off can also be used for documents previously applied that should print on the remittance. This option initially defaults from the setting on the Payables Management Setup window. Build Batch After the selections are made in the Build Payment Batch Window, click Build Batch to create the batch of cheques to process. The information entered in this window is saved. Print an edit list by selecting Print from the File menu or click the Printer icon located on the window. The cheques in the batch are ready to be edited or printed. Continue to select cheques by entering new ranges and information and clicking the Add to Batch button, if necessary. Buttons Click Edit Creditor Payment to open the Edit Creditor Payment window to modify or remove payments that are created using the Build Payment Batch Window. (Recommended) Click Edit Creditor Payment Batch to open the Edit Payment Batch Window to modify or remove payments. This window streamlines the process compared to the Edit Creditor Payment window. Click Print Cheques to open the Print Payables Cheques window and print cheques for a batch. A batch is required for processing computer cheques. Payments cannot be entered into a recurring batch. Multiple ranges of creditors and documents can be entered in a single batch. To do this, enter the first range and related information and click Build Batch. Then enter the second range and related information and click Add to Batch. Continue to do this until all creditors and documents for the batch are selected. Only posted documents are selected to be paid. The system prompts to automatically print a remittance form if there is a zero amount cheque in the batch, or if more than 12 documents are listed on a single cheque. 93

94 3.6 Edit Payment Batch TRANSACTION >> PURCHASING >> EDIT PAYMENT BATCH NAVIGATION PANE >> PURCHASING >> TRANSACTION >> EDIT PAYMENT BATCH OR PRESS THE EDIT PAYMENT BATCH BUTTON FROM THE BUILD PAYMENT BATCH WINDOW Use the Edit Payment Batch window to edit, delete, or add a creditor or voucher to the payment batch created using the Build Payment Batch window. 30. Edit Payment Batch Window. This window streamlines the editing of computer cheque batches. Use this window or the Edit Creditor Payment window to modify cheques prior to printing them in Payables Management. This window can also be used to select creditors and invoices to be paid, instead of using the Build Payment Batch Window. A batch can be created in the window and invoices selected to be paid. Select the Batch ID to edit using the Batch ID lookup window. In addition to this window, batches are built in the Batch Entry or Select Cheques windows. 94

95 When cheques are printed for invoices in Payables Management, they are applied during the posting process. The Apply Date field is the apply date assigned. This date is usually designated as the cheque date. Selecting Creditors and Vouchers to Pay Select creditors to pay with this cheque processing run. Unmark any previously selected creditors that do not need to be paid. Add any additional columns of information needed using the Columns icon. Column information can also be rearranged using the List Customisation window. The Edit Creditor Payment window can also be used to select or remove creditors from a Payables cheque batch in addition to this window. Select a creditor in the Creditor scrolling window and display all outstanding invoices for the creditor. Select any documents to pay with this cheque run. Documents selected previously can be unmarked. The same column options are available in the documents portion of the window. Edit Creditor Payment and Print Payment Buttons Click the Edit Creditor Payment button to access the Edit Creditor Payment window. Most of the options available in the Edit Creditor Payment window are the same as the options available in the Edit Creditor Payment Batch window. Click the Print Payment button to print cheques for the selected creditors and vouchers. Print an Edit List Always print an edit list to verify the accuracy of the batches entered. To print an edit list, select Print from the File menu or click the Printer icon. An edit list can be printed from the Build Payment Batch Window, Edit Payment Batch Window, Edit Creditor Payment Batch Window, Print Payment Window, or Payables Batch Entry windows, as long as a Batch ID is entered. If errors are identified on the edit list (system errors are denoted by an asterisk, and include errors such as Distributions do not balance and Financial Period for posting date is closed), correct the payments and print another edit list before posting. Make sure that for documents, you remove the column header voucher and replace it with Document Number. Make sure that for creditors, you remove the column header Creditor ID and replace it with Creditor Name. 95

96 3.7 (OPTIONAL) Edit Creditor Payment TRANSACTION >> PURCHASING >> EDIT CREDITOR PAYMENT NAVIGATION PANE >> PURCHASING >> TRANSACTION >> EDIT CREDITOR PAYMENT OR PRESS THE EDIT CREDITOR PAYMENT BUTTON FROM THE BUILD PAYMENT BATCH WINDOW 31. The Edit Creditor Payment Window NOTE: You only need to go through this section if: You are partially paying a creditor s invoice You are going to apply a writeoff amount to a remaining invoice amount (you cannot writeoff unapplied payments/credit/return balances only a debit memo or offsetting invoice can be applied to these) You are going to amend a discount amount taken on an invoice. Skip this section if the above does not apply to your current cheque and/or EFT payment run. 96

97 Use the Edit Creditor Payment window to edit, delete, or add a creditor or invoice to a payment batch created using the Build Payment Batch Window. If a creditor or a voucher does not fall within the ranges entered, enter the creditor or voucher in the batch using this window. Payments created using the Selected Payables Cheques window can be edited or deleted in this window. This window can also be used to enter new payments for a single voucher or small groups of creditors one at a time. Payment Number If editing payments selected using the Build Payment Batch Window, use the lookup list to select the payment to edit. If creating a new batch of payments using this window enter or accept the default payment number. Batch ID Enter the Batch ID for the batch of computer cheques to edit. This can be accomplished by either clicking the lookup button and selecting the batch from the list, manually typing in the ID, or entering a new ID. When a new Batch ID is entered, follow the system prompts to add the batch. If a batch in the Payables Batch Entry window is created with an origin of Computer Cheque and then the Transactions button is clicked, and then Edit Creditor Paymentis selected, the Batch ID is automatically displayed in this field. Click the Batch ID expansion button to open the Payables Batch Entry window where information about a specific batch can be added, changed, or viewed. Batch Total, Chequebook ID and Currency ID These fields display information related to this batch. The Batch Total displays the monetary amount paid if the cheques are printed for the creditors and vouchers currently selected in the batch. The Chequebook ID and Currency ID are those selected for this batch. Apply Date Displays the date used to determine whether discounts are available when processing cheques. Creditor ID and Cheque Name Enter a Creditor ID or select it from the lookup list. To add a new creditor record, enter a new Creditor ID and add the necessary information to add the creditor record. The cheque name for the selected creditor displays in the Cheque Name field. To add a temporary creditor, place the insertion point in the Creditor ID field and then select Temporary Creditor from the Options menu. The next temporary ID number specified in the Payables Setup Options window appears as the default. Each time temporary creditors are added, the default number increments by one. 97

98 Comment Use this field to enter a comment that can be printed on the cheque, if it is formatted to print on the cheque in Report Writer. If posting transactions to General Ledger, the transaction comment appears as the reference in the General Ledger Transaction Entry window. Amount Fields Enter an amount in the Unapplied field to enter a prepayment. A prepayment can be made to a creditor even if no vouchers are being paid off for that creditor. The Applied and Cheque amount fields are display only. The apply amount and cheque amount is calculated according to the documents and the amounts applied using the Apply Payables Documents window and any amount entered in the unapplied field. Remittance Options Select the information that appears on the remittance and cheque stub. A remittance shows the same detail as the cheque stub and is printed on blank paper after the cheques are printed. The default selection for listing documents is set in the Payables Management Setup window. Select how the documents appear on the remittance or cheque stub. If Date is selected as the sorting option, the documents are listed in document date order. If Number is selected as the sorting option, the documents are listed in document number order. Terms and Writeoffs The Terms Discount Available and Terms Discount Taken fields display the payment terms available and taken for the vouchers this payment is applied to. The Writeoff field displays any amounts writtenoff, for the vouchers this payment is applied to. Apply Documents Click Auto Apply in the Edit Creditor Payment window for the system to total all the posted and outstanding transactions for the selected creditor. If an unapplied amount is entered, the system adds that amount to the cheque amount. To select specific outstanding transactions or view the transactions before paying them, click the Apply button to display the Apply Payables Documents window. Only posted transactions for the specified creditor appear in the scrolling window. 98

99 Apply payments using one of the following methods: Apply Method Auto Applying Apply Information Click the Auto Apply button to apply the payment to all outstanding documents. Any available discounts are taken if the Apply Date falls before the discount date. Documents are applied according to the method selected in the Payables Management Setup window; Document Date or Due Date. Applying to specific transactions To apply the document to specific transactions, select the check box in front of each transaction. Select documents until the entire amount is applied. Applying Specific Amounts To divide the payment between transactions, or to apply only a part of the payment, enter the amount in the Applied Amount field. Use the hide and show buttons to enter a discount taken or writeoff amount. Cheque Stub Open the Payables Cheque Stub Documents window by clicking the Cheque Stub button. Use the Payables Cheque Stub Documents window to determine what documents appear on the cheque stub. 32. The Cheque Stub Window. 99

100 The documents that appear in this window are those the cheque is paying off, as well as any documents that have not appeared on a cheque stub before. The documents that are selected appear on the cheque stub and remittance. The Print Previously Applied Documents on Remittance setting from Payables Management Setup (or from Select Cheques if a batch of cheques is built from Select Cheques) determines which documents are selected. If a document is printed on the cheque stub, it no longer appears in this window to be printed on future cheque stubs and remittance forms. For example, if a $ invoice with a return of $10.00 applied to it appears, there is the option of having these two documents appear on the cheque stub and remittance of the next cheque that prints. If the documents are not included, the documents do not appear in the Payables Cheque Stub Documents window to be included on another cheque stub. Distributions To view or change account distributions, click the Distributions button to open the Payables Transaction Entry Distribution window. Verify the payment amounts are allocated to the correct posting accounts, and make any necessary adjustments. The transaction is distributed automatically to the posting accounts assigned in the Creditor Account Maintenance window when setting up creditor records. If the accounts are not assigned when setting up creditor records, the accounts assigned in the Posting Accounts Setup window are used instead. If accounts are not defined in either location, then no accounts default in the distribution window. The Type field on the distribution window must match the figures from the Edit Creditor Paymentand Apply Payables Documents windows. For example, if a $50.00 write-off is recorded, a distribution for $50.00 with a posting account and type of WRITE must be present on the distribution window. There are two options to edit the distributions. One option is to manually change the figures in the distribution window. The other option is to click the Default button to reset all distributions to the default posting accounts and types. However, this option does not work if the posting accounts are previously changed because they revert to the original default accounts. To enter the account number using the account alias, click the Account Number expansion button and enter the alias. This pulls the account number on the Payables Transaction Entry Distribution window. With Multicurrency, each combination of currency and exchange rate must have its own General Ledger distribution. Select the Show the Payment Distribution Information option to view the distributions related to the payment. Select Show Apply to display distributions for any discounts taken or lost, any write-offs, gains or losses, or rounding differences associated with any debit document that the cheque is applied to. This option is available only if the Payables Transaction Entry Distribution window is opened from the Edit Creditor Payment window. Click the Print Cheques button to open the Print Payables Cheques window to print cheques for this batch. 100

101 Print an Edit List Always print an edit list to verify the accuracy of the batches entered. To print an edit list, select Print from the File menu or click the Printer icon. An edit list can be printed from the Select Payables Cheques, Edit Creditor Payment, Print Payables Cheques, or Payables Batch Entry windows, as long as a batch ID is entered. If errors are identified on the edit list (system errors are denoted by an asterisk, and include errors such as Distributions do not balance and Financial Period for posting date is closed), correct the payments and print another edit list before posting. To view a list of the documents selected for payment, click the lookup button next to the Payment Number field to access the Payment Number lookup list. Payments cannot be entered into a recurring batch. Payments in this window are entered one creditor at a time. To keep the numbering scheme for temporary creditors similar to active creditors, do not use this feature. Set up the temporary creditor in the same manner as active creditors, but choose a status of Temporary. If an amount is entered in the Unapplied Amount field, this amount increases the cheque amount. The cheque amount also includes any documents that are selected to be paid in the Apply Payables Documents window. The system prompts to automatically print a remittance form if there is a zero amount cheque in the batch, or if more than 12 documents are listed on a single cheque. Make sure that for creditors, you remove the column header Creditor ID and replace it with Creditor Name. Select and clear documents as appropriate; however, the documents the current cheque or EFT payment run is paying off cannot be cleared. If the distribution window is used to enter distributions, and then later changes are made on the Edit Creditor Payment window, open the distribution window again to change the distributions to match the changes made or click default to reset based on the changes. This window is not continuously updated as transactions are edited in the Edit Creditor Payment window. Unit accounts can be distributed to; however they do not affect the totals or balance of a transaction. 101

102 3.8 Print and Post Payments (SKIP TO NEXT SECTION TO CREATE EFT FILE, PRINT REMITTANCES AND POST EFTS) TRANSACTION >> PURCHASING >> PRINT PAYMENT DOCUMENTS NAVIGATION PANE >> PURCHASING >> TRANSACTION >> PRINT PAYMENT DOCUMENTS OR PRESS THE PRINT PAYMENT DOCUMENTS BUTTON FROM THE BUILD PAYMENT BATCH WINDOW, EDIT PAYMENT BATCH WINDOW, OR EDIT CREDITOR PAYMENT WINDOW NOTE: ENSURE THAT THE AMOUNTS ON INVOICES TO BE PAID TO CREDITORS IS CORRECT BEFORE PERFORMING THE INSTRUCTIONS IN THIS SECTION. YOU CANNOT ADD/REMOVE/EDIT INVOICES ONCE YOU HAVE STARTED THE PRINT CHEQUE PROCESS. SEE SECTIONS 3.9 OR 3.10 IF YOU NEED TO EDIT DOCUMENTS PRIOR TO PERFORMING THE CHEQUE PAYMENT RUN. Use the Print Payment Documents window to print the cheque created in the Build Payment Batch Window and the Edit Creditor Payment window. After the cheques print, individual cheques can be voided or reprinted, if necessary. If the printed cheques are correct, post the cheques. 33. The Print Payment Window. 102

103 Select the cheque batch to Print Payment Documents for using the Batch ID field. The Batch Total, Chequebook ID and Currency ID fields display information related to this batch. The batch total displays the monetary amount paid if the cheques are printed for the creditors and vouchers currently selected in the batch. The Chequebook ID and Currency ID are those selected for this batch. Cheque Number, Date and Comment Enter the starting cheque number for the batch of cheques. The cheque date defaults according to the user date. This is the date printed on the cheques. A comment can be entered here that appears on all the cheques in the batch, if it is formatted to print on the cheque in Report Writer. This comment prints in addition to any comments entered for specific individual cheques in the Edit Creditor Payment window. Sort Cheques, Cheque Format and Separate Remittance Select how the cheques need to be sorted when printed. Sort the cheques by payment number, name, state and city, or ZIP code. Select whether the cheque needs to be printed with or without a stub by selecting a Cheque Format. To print a remittance document separately from the cheque, select the Separate Remittance box. A remittance shows the same detail as the cheque stub and prints on blank paper after all the cheques are printed. Print Alignment Form/Cheques Printing an alignment form first ensures the cheque forms are properly aligned in the printer. Xs are printed in the place of the actual cheque information. Cheques printed as alignment forms are automatically recorded as voided. When the forms are aligned correctly, the system is ready to print the cheques. When ready to print the cheques, select the Cheques button in the Print: field and click the Print button. NOTE: WHEN CHEQUES ARE PRINTING THE POST PAYABLES CHEQUES WINDOW WILL APPEAR. DO NOT CLICK THE PROCESS BUTTON! EITHER LEAVE THIS WINDOW ON THE SCREEN UNTIL THE CHEQUES ARE COMPLETED OR CLICK THE PROCESS LATER BUTTON TO CONTINUE THE PAYMENT RUN PROCESS ONCE THE CHEQUES HAVE COMPLETED PRINTING. Post Payment Process After the cheques are printed, the Post Payments window opens. Use this window to reprint cheques, void cheques, print an alignment form or post the cheques to complete the cheque process. 103

104 34. The Post Payables Cheque Window when printing cheques. Select Void Cheques to void a cheque if it is incorrect. Enter the cheque or cheques to be voided, and then click the Process button. Voided cheques are not posted to the General Ledger. Select Reprint Cheques to reprint a cheque because of a printer malfunction or if some other problem damaged the original. Enter the cheque or cheques to be reprinted, and then click Process after the cheque forms are inserted into the printer. The original cheque is automatically voided. Select Print Stub Alignment to realign cheque forms to reprint cheques. Click Process after inserting the cheque forms in the printer. Post Cheques Select Post Payments to post the cheque amounts and any of their associated transactions. After selecting the appropriate option, click Process. This performs the process selected. If the process is not ready to be completed at this time, click Process Later. The process can be continued later from the Post Payments window. If selecting to post the payment batch, the posting journals can be printed. It depends upon how the Microsoft Dynamics GP system is set up. These audit trail reports are optional and can be turned off in the Posting Setup window. Any cheque numbers used during the alignment process are noted on the Computer Cheque Register, as well as the numbers for any cheques reprinted or voided. After posting, the entire payment run cannot be voided in one step, all cheques reprinted, or alignment forms printed. If Separate Remittance is selected in the Print Payables Documents window, or there are zero amount cheques in the batch, or if a cheque paid more than 12 documents, the Process Payables Remittance window 104

105 opens, and the remittance forms can be printed from this window. Click Process or Process Later. Once remittances are printed, select Post and click Process to complete the cheque posting process. Reprint Remittances You can reprint remittance forms and cheque stubs for posted payments entered in the Payables Transaction Entry window and for computer cheques. To reprint you must go into the Creditor Transaction Enquiry window and drill down on the payment to view the re-print Always print an edit list before printing and posting cheques to verify that the correct creditors and invoices are selected. Once accuracy of the entries is verified, print the cheques. Payments in this window are entered one creditor at a time. To keep the numbering scheme for temporary creditors similar to active creditors, do not use this feature. Set up the temporary creditor in the same manner as active creditors, but choose a status of Temporary. 105

106 Before printing cheques, be sure the cheque format is set up correctly. Cheque formats can be edited using Microsoft Dynamics GP Report Writer. The Process Remittance window appears automatically if any cheques in the batch include more than 12 documents on the stub. If voiding or reprinting cheques, all the cheques can be voided or printed, or a range of cheques can be specified. 3.9 Create EFT file, Print Remittances and Post EFTs (GO TO PREVIOUS SECTION TO PRINT AND POST PAYMENTS) TRANSACTION >> PURCHASING >> PRINT PAYMENTS NAVIGATION PANE >> PURCHASING >> TRANSACTION >> PRINT PAYMETS OR PRESS THE PRINT PAYMENT BUTTON FROM THE BUILD PAYMENT BATCH WINDOW, EDIT PAYMENT BATCH WINDOW, OR EDIT CREDITOR PAYMENT WINDOW NOTE: ENSURE THAT THE CREDITORS TO BE PAID AND THE CORRESPONDING INVOICES TO BE PAID ARE CORRECT BEFORE PERFORMING THE INSTRUCTIONS IN THIS SECTION. YOU CANNOT ADD OR REMOVE ANY PAYMENTS TO CREDITORS ONCE YOU HAVE STARTED THE CREATE EFT FILE & PRINT REMITTANCES PROCESS. SEE SECTIONS 3.9 OR 3.10 IF YOU NEED TO EDIT DOCUMENTS PRIOR TO PERFORMING THE EFT PAYMENT RUN. Use the Print Payments window to create the EFT file required to import into your banking software and to print remittances for the EFTs that were created in the Build Payment Batch Window and the Edit Creditor Payment window. After the EFT file has been saved, you can then print remittances,reprint if necessary and post the EFTs. 106

107 35. The Print Payments Window when producing an EFT payment run. Note Separate Remittance and EFT Run are both marked for processing. If Batch security has been activated in EFT Enhancements the user will receive a Password prompt when they click the Left hand side Print button. The user must enter the password to continue. If the Batch total is above the users approval limit they will not be able to continue to create the EFT file. 36. The Print Payables Cheques Window when producing an EFT run when Batch Security is activated. 107

108 Select the EFT batch to create the EFT file and print remitancces using the Batch ID field. The Batch Total, Chequebook ID and Currency ID fields display information related to this batch. The batch total displays the monetary amount paid if the EFT file is created for the creditors and vouchers currently selected in the batch. The Chequebook ID and Currency ID are those selected for this batch. EFT Number, Date and Comment The EFT number defaults from the BankPro Configuration Window within the BankPro EFT & Statement Import Setup Window EFT Configuration button. The cheque date defaults according to the user date. This is the date EFTs will be processed as paid in Dynamics GP. The comment field should be ignored when processing EFTs as it has no use when processing EFTs. Sort Cheques, Cheque Format and Separate Remittance Select how the EFTs need to be sorted when the file is created. Sort the EFTs by payment number, name, state and city, or ZIP code. The Cheque Format field should be ignoored when processing EFTs as it has no use when processing EFTs. The Separate Remittance box will be automatically marked for an EFT payment run as it will be required to create the remittance which will be given to the creditor to detail what has been paid on the creditor s account. A remittance shows the same detail as the cheque stub and prints on blank paper after the EFT file has been saved. Create EFT file When ready to create the EFT file click the Print button and select to print the cheques to the screen. You cannot stop Dynamics GP from printing the cheques when performing the Create EFT file process so either print them to screen and then close the print preview screen (recommended) or select to print the cheques to plain paper. Save the EFT file The Export EFT file window will now appear. Do not adjust the Exporting Batch file name. The Payment Release field will display the user date by default. You can change this date which will change the payment release date for the EFT payments when imported into your banking software. The File to Create field will display the default folder location and filename which defaults from the BankPro Configuration Window within the BankPro EFT & Statement Import Setup Window EFT Configuration button. You can change both the File to Create folder location and/or file name if necessary. If EFT Filename with Batch ID has been activated the file name will include the Exporting batch ID+ File ID and File type as defined in the EFT setup window. 108

109 37. The Export EFT File Window. Once you have chosen the name of your EFT filename and your file location to save your EFT file, and selected your Payment Release date, then click the Save button which will then create the EFT file and you will get a window that confirms that the file was created successfully. Click the OK button to continue the EFT payment run process. 38. The EFT file is created successfully when you see this Window. Process the Post Payables Cheques window After the EFT file has been saved, you will need to close the Export EFT File window. The Post Payables Cheques window opens. Click Process to continue the EFT payment run process. 109

110 39. The Post Payments Window when performing the EFT Payment run. Process Remittance You are now ready to print and remittances for your EFT Payment Run. If you are printing remittances only, then ensure the radio button is on Remittance Form If you wish to Send Documents in ensure the box is ticked If you wish to Save Remittances to Creditor Folder ensure the box is ticked Then click the Process button. 40. The Process Payables Remittance Window. 110

111 Once you have printed the remittances, the Process Payables Remittances Window will appear again. Check that all of the remittances have printed correctly. If the remittances did not print correctly, then you can select the Remittance Form radio button again and reprint the remittances as many times as you need to until your remittances are all printed correctly. Ensure you untick the Send Remittances in an tick box when you reprint remittances or you will remittances to your suppliers again! When you have completed printing and/or ing remittances, then you can select the Post radio button to complete the EFT Payment Process Apply Payables Documents TRANSACTION >> PURCHASING >> APPLY PAYABLES DOCUMENTS NAVIGATION PANE >> PURCHASING >> TRANSACTION >> APPLY PAYABLES DOCUMENTS Use the Apply Payables Documents window to apply posted payments, credit memos, prepayments and returns. 41. The Apply Payables Documents Window. 111

112 Select the creditor and then use the Document No. scroll arrows or lookup window to locate the document to apply. If a credit memo, return or payment is applied to a posted transaction, it can be unapplied using this window. It can be necessary to unapply a payment, credit memo or return if it should be applied to another document. For example, assume that a prepayment is applied to an invoice and then it is decided to return the merchandise; in this case unapply the prepayment and void the invoice, or issue a credit memo and apply it to the invoice. It is possible to unapply a payment, credit memo and return only if it is still in the open file. Meaning, it is not fully applied yet. Creditor and Document Information Enter the creditor whose documents need to be applied. The creditor name displays in the Name field. Select the document to apply or unapply. Enter the document number, use the browse buttons or use the lookup list to select the document. The document type is displayed. The choices are payment, credit memo and return. Apply from Currency ID This displays the currency of the document that is being applied to another document. If Multicurrency Management is used, the Currency ID displayed determines how amounts are shown in the scrolling window. If the Currency ID displayed is an originating currency, all amounts are shown in the originating currencies. If the Currency ID is the company's functional currency, all amounts shown in the scrolling window are displayed using the functional currency. Click the Apply From Currency ID expansion button to open the Exchange Rate Entry Zoom window, where exchange rate information can be viewed for the selected transaction. This button is not available if the Apply From Currency ID is the functional currency or if Multicurrency Management is not being used. Apply Date and Apply Posting Date The Apply Date is the date the document is applied. The default apply date is the user date. The Apply Posting Date is the General Ledger posting date. It defaults to the user date. General Ledger is updated only if a discount amount or a writeoff amount is entered in this window or if a discount available remained and the document is fully applied. If Multicurrency Management is being used, General Ledger is also updated when a realized gain, a realised loss or a rounding amount is generated. Original Amount and Unapplied Amount The Original Amount and Unapplied Amount fields display the amount originally posted and the amount that remains to be applied for the selected document. Apply or Unapply a Document Apply and unapply credit memos, returns and payments using the Auto Apply or the Unapply button, by applying or unapplying specific transactions or by applying or unapplying specific amounts. 112

113 Apply Method Auto applying or unapplying Apply Information Click the Auto Apply button to apply the credit memo, return or payment to all or as many documents as the applying document being applied allows. The document is applied to documents with the oldest document date or due date, depending on what is chosen in the Payables Management Setup window. If using Auto Apply, any discount is taken if it is still available and if the unapplied amount is large enough to pay off the transaction. Click the Unapply button to unapply all the documents applied in the scrolling window. When clicking this button, all the discount amounts, write-off amounts and applied amounts for the selected documents are zeroed out and the checkboxes are cleared. Applying or unapplying specific transactions To apply the document to specific transactions, select the check box in front of each transaction. Select as many documents as desired until the credit memo or return amount is fully applied. To unapply the document to specific transactions, clear the check box in front of each transaction. Clear as many documents as desired. The discount taken and write-off amounts are also reduced to zero. Applying or unapplying specific amounts To apply a part of the document to one transaction and a part to another transaction, or to apply only a part of the document, enter the amount to apply in the Applied Amount field. Amounts can also be entered in the Discount Taken and Writeoff Amount fields. To unapply a part of the document, enter the amount to pay in the Applied Amount field. Amounts can also be entered in the Discount Taken and Writeoff Amount fields. Apply To Document Information Information related to the apply to document can be viewed in the scrolling window, such as document number, due date, amount remaining, apply amount, transaction type, original document amount, discount date, terms available, terms taken, write-off amount and currency information. Print an Apply Documents Posting Journal Depending on how the Microsoft Dynamics GP system is set up, the posting journal can be printed when the Apply Payables Documents window is closed. These posting journals are optional; printing can be turned off for any of these reports in the Posting Setup window. Distribute Additional Taxes and Write-off Amounts While the Apply Payables Documents window is open, highlight or enter an amount in the Discount or Writeoff field. Drag the mouse pointer over the Discount or Writeoff column heading and click the mouse to open the additional Tax and Writeoff Distributions window. 113

114 42. The Additional Purchasing Tax and Writeoff Distributions Window. The Additional Purchasing Tax and Writeoff Distributions window is used to view total discounts, unposted discounts, total write-offs and unposted write-off amounts for a creditor and a document. This window is also used to enter unposted write-offs to Withholding. The total write-offs and unposted write-offs for the creditor and transaction are displayed. To write-off the Withholding deduction the company remits to the taxation office, enter the Withholding amount to writeoff. The amount entered is distributed to the write-off account specified for the creditor. If the credit memo, return or prepayment completely pays off the invoice it is applied to, the transactions are moved to history when this window is closed. If entering an Apply Posting Date and apply amounts, then change the Apply Posting Date and apply amounts again; the amounts will have different posting dates. If the transaction balance is zero after applying, the transaction is transferred to history. When the Apply Payables Documents window is closed, the changes to discounts available, discounts taken and write-offs are posted. Posting occurs when applying or unapplying a document that uses any type of discount taken, write-off, tax, unrealized gain/loss, realized gain/loss or rounding. A posting journal details the accounts debited and credited and can be kept as an audit trail. It is recommended that posting journals be at least printed to the screen to check posting accuracy. Posting journals can be viewed later using inquiry and report functionality in Microsoft Dynamics GP. 114

115 3.11 Batch Recovery MICROSOFT DYNMAMICS GP >> TOOLS >> ROUTINES >> BATCH RECOVERY NAVIGATION PANE >> ADMINISTRATION >> ROUTINES >> BATCH RECOVERY If there is a power fluctuation or some other posting interruption, or if any transactions in a posted batch contain errors, use the Batch Recovery window to complete posting for interrupted batches or select the batches containing errors for edit. 43. The Batch Recovery Window. Batches can continue to post completely when this window is used, or they can be returned to the General Ledger or the originating modules for editing. Batches that are interrupted appear in the scrolling window. Mark the batch in the scrolling window to continue the posting process. Use the Mark All button, or click the check box for a batch to continue posting. The Batch Recovery window displays batches interrupted in the posting process from batch entry windows, series posting windows and the master posting window. Transactions that are posted as single transactions do not appear in this window. 115

116 Restore a backup of the company database if a batch this is partially posted to cannot be restarted. For additional information on batch recovery, refer to the printable manuals available from the Help menu in Microsoft Dynamics GP. The following chart provides definitions of each batch status; it also shows which actions must be taken to recover a batch so marked. Status Definition Action you must take Posting Interrupted The batch is interrupted during the actual posting process. Select the batch and click Continue. Printing Interrupted The batch is interrupted during the printing phase. Select the batch and click Continue. Updating Interrupted The batch is interrupted during the clean up phase. Select the batch and click Continue. Recurring Error A posting error is found in a recurring batch. Select the batch; the status changes to Edit Required. Note which of the batches needs edits and click Continue. The batch status changes to Available and the batch can be edited and reposted following normal procedures. Single-use Error A posting error is found ina singleuse batch. Select the batch; the status changes to Edit Required. Note which of the batches needs edits and click Continue. The batch status changes to Available and the batch can be edited and reposted following normal procedures. 116

117 Maintaining Records Section Outcomes At the end of this section participants will be able to: Maintaining Records Place or release Creditor Holds Place or release Transactions Holds Void transactions that are not paid or applied (open transactions) Void paid or fully applied transactions (historical transactions) Void EFT payments that have previously been reconciled Edit posted transactions Modify or change creditor records Run the reconcile process and examine how it works 117

118 4.1 Introduction Use Payables Management has numerous functions and features to help maintain creditor records and balances. This training focuses on managing creditor relationships and the transaction data collected from purchasing transactions. Also included in this training is information about reporting and inquiry on creditors and transactions associated with purchasing. 4.2 Creditor and Transaction Holds During the normal course of business, it can be necessary to place a creditor or a certain transaction on hold. For example, a dispute can arise if goods are not delivered in an acceptable state, resulting in a decision to withhold payment until the creditor makes amends. With Microsoft Dynamics GP creditors and specific transactions can be placed on hold, which stops the payment process in the system until the hold is removed. Refer to the following information on creditor and transaction holds to decide which hold to use. 4.3 Creditor Holds CARDS >> PURCHASING >> CREDITOR >> <SELECT CREDITOR> >> HOLD TICK BOX NAVIGATION PANE >> PURCHASING >> CARDS >> CREDITOR >> <SELECT CREDITOR> >> HOLD TICK BOX A creditor might need to be placed on hold if, for example, the wrong merchandise is received from this creditor several times. If this occurs, the invoices received from this creditor are not to be paid until the order is corrected. 118

119 44. The Creditor Maintenance Window with the Hold box ticked. If a creditor is placed on hold, no new payments can be issued or applied in the Payables Transaction Entry window, the Payables Manual Payment Entry window, the Build Payment Batch Window, the Edit Payment Batchand the Edit Creditor Payment window. However, other transactions from the creditor can be entered, posted, and applied while they are on hold. When appropriate, the creditor can be released from a hold and payments can be issued. To place or remove a hold, first select the creditor to place or release from a hold. To place a creditor on hold, select Hold. Clear the Hold tick box to release the creditor from a hold. Depending on how Payables Management is set up, it can be necessary to enter a password to remove the hold. 119

120 4.4 Transaction Holds TRANSACTIONS >> PURCHASING >> HOLDS NAVIGATION PANE >> PURCHASING >> TRANSACTIONS >> HOLDS Use the Hold Payables Transactions window to place individual documents for a creditor on hold. 45. The Holds Payables Transactions Window. At times an individual transaction might need to be placed on hold. This can include placing on hold a posted transaction that is not yet fully applied or paid. For example, assume it is questionable as to whether the monetary value for a particular transaction amount is correct. You do not want to apply a payment, credit, or return to the transaction until it can be verified that it is entered for the correct amount. If a payables transaction is placed on hold, no payments can be made against it. When you are ready to pay the transaction, release the transaction hold. Once the transaction hold is released, documents can be applied and any payments can be issued. Enter or select the ID for the creditor whose transaction needs to be placed on or released from a hold. Select the Hold box next to each transaction to place them on hold. To place all of the creditor's transactions on hold, 120

121 click Mark All. If the creditor is on hold, no payments can be issued, but documents can still be applied. If a transaction is placed on hold, no payments can be applied to the transaction. To release a transaction from a hold, clear the specific transaction Hold check box. Unlike a creditor hold, removal of transaction holds cannot be password protected. To release all the transactions on hold, click Unmark All and click OK to close the window. A Transaction Hold Edit list can be printed to show all vouchers for the selected creditor that are on hold by selecting Print from the File menu or by clicking the Printer icon. After finishing selecting or clearing transactions, click OK to close the window. 4.5 Void Open Payables Transactions TRANSACTIONS >> PURCHASING >> VOID OPEN TRANSACTIONS NAVIGATION PANE >> PURCHASING >> TRANSACTIONS >> VOID OPEN TRANSACTIONS Use the Void Open Payables Transactions window to void any transaction entered in the Payables Transaction Entry window. 46. The Void Open Payables Transactions Window. 121

122 Enter the Creditor ID for the creditor whose voucher needs to be voided, or select the ID from the lookup list. All of the posted vouchers for the creditor are displayed in the scrolling window. The requirements for voiding a voucher are: It must be posted. It must be totally unapplied. The creditor must be active or temporary. The effects of voiding a voucher are: The voucher is moved to history (if maintaining history). The voucher is flagged with an asterisk (*) indicating it is voided and can be viewed in inquiry windows. Original posting accounts and amounts are reversed in General Ledger. Information stored in the Creditor Period/Yearly Summary fields is updated. Void Date and Posting Date The original document date is displayed as the Void Date and is the date the document is voided in Payables Management. By editing this date, the voucher can be voided in the period the document should be voided. The Historical Aged Trial Balance Report reflects this date. If General Ledger is part of the Microsoft Dynamics GP system, enter the date that needs to appear as the posting date in General Ledger for the reversing entries that are used to offset the original transaction distributions for each document being voided. The Posting Date field determines what period the transaction appears in General Ledger. Mark the Voucher to Void Select each voucher to void. To void all vouchers, click Mark All. A Void Voucher Edit list can be printed to show all the payments selected to be voided by clicking Print from the File menu or by clicking the Printer icon. If a decision is made not to void a voucher, clear the Void check box for that voucher. Click Unmark All if no vouchers should be voided. Voiding the Transaction Click Void to void the document or documents. When a voucher is voided, reversing amounts are posted for the original transaction distributions. The history reports show this payment as voided if transaction history is being kept. Depending upon how the Microsoft Dynamics GP system is set up, the Void Open Payables Transactions Posting Journal and the Distribution Breakdown Registers print when voiding vouchers. These posting journals are optional; printing can be turned off for any of these reports in the Posting Setup window. 122

123 Voiding Scheduled Payments Payment Schedules cannot be deleted once they are posted. Instead, all the payments included in the schedule must be posted and voided individually, and then the payment schedule is removed from the system. Use the Void Open Payables Transactions window to void the individual scheduled payments. Use the following steps to void a posted payment schedule: 1. Post all the payments for the schedule. 2. Void each invoice using the Void Open Payables Transaction window. 3. Go to the Payables Scheduled Payment Entry window to verify the scheduled payment is removed from the system. Both the void date and the posting date can be changed by clicking on the Void Date or Posting Date field and entering a new date. If entering an Apply Posting Date and apply amounts, then change the Apply Posting Date and apply amounts again; the amounts will have different posting dates. It is possible to view whether a payment have been reconciled in the Bank reconciliation module. This field is informational only and it is strongly recommended that you do not void a payment with a reconciled status. 4.6 Void Historical Transactions TRANSACTIONS >> PURCHASING >> VOID HISTORICAL TRANSACTIONS NAVIGATION PANE >> PURCHASING >> TRANSACTIONS >> VOID HISTORICAL TRANSACTIONS Use the Void Historical Transactions window to void cash, cheque or credit card payments, returns, and credit memos. Select to Void by Creditor or Document Number 123

124 47. The Void Historical Payables Transactions Window using a selected Creditor. 124

125 The requirements for voiding a document are: The document must be fully applied. History must be maintained. The document must still exist in history. The effects of voiding a document are: The document remains in history but is flagged with an asterisk (*) to indicate it is voided. Any vouchers the document is applied to returns to the Payables Open Transaction table, and appears on the Aged Trial Balance reports. Original posting accounts and amounts are reversed in General Ledger. Information stored in the Creditor Period/Yearly Summary fields is updated. Select the Documents Indicate whether it is necessary to void all the documents, or documents for a selected range of document numbers. If creating a range of documents to void, select the first and last documents in the range using the lookup list. All the documents between the two selected documents are included in the range. Remember, credit memos and returns can also be voided here. Posting Date and Void Date If General Ledger is being used, enter the date that needs to appear as the posting date in General Ledger for reversing entries used to offset the original transaction distributions. 125

126 The original document date is displayed as the void date and is the date the document is voided in Payables Management. By having the ability to edit the Void Date, a voucher can be voided in the period a user wants a document voided. The Historical Aged Trial Balance reflects this. Select the Payment to Void Select each payment to void. To void all the payments, click Mark All. A Void Payment Edit list can be printed to show all the payments chosen to be voided by selecting Print from the File menu. If a payment is not going to be voided, clear that payment. If none of the payments are going to be voided, click Unmark All. Voiding the Transaction Click Void to void the document or documents. When a payment is voided, reversing amounts are posted for the original transaction distributions. The history reports show this payment as voided if transaction history is kept. Depending upon how the system is set up, the Void Historical Payables Transactions Posting Journal and the Distribution Breakdown Registers print when payments are voided. These posting journals are optional; printing can be turned off for any of these reports in the Posting Setup window. Voiding if a credit memo or return is applied If credit memo s or returns are applied to an invoice and you want to void a payment that is applied to the same invoice, the credit memo or return is automatically unapplied from the invoice and can be reapplied as needed. Purchasing documents are displayed in the lookup list sorted by document number (cheque number). The sort can be changed to display by Creditor ID or Voucher Number. It is also possible to restrict by document type in the window. When selecting by anything other than document number, the system still uses document number to determine which documents to display. Both the void date and the posting date can be changed by clicking in the Void Date or Posting Date field and entering a new date. It is possible to view whether a payment have been reconciled in the Bank reconciliation module. This field is informational only and it is strongly recommended that you do not void a payment with a reconciled status. 126

127 4.7 Voiding an EFT Payment that as been reconciled TRANSACTIONS >> FINANCIAL >> BANK TRANSACTIONS > INCREASE ADJUSTMENT NAVIGATION PANE >> FINANCIAL >> BANK TRANSACTIONS To void an EFT payment that has been previosuly reconciled MUST be done using a Bank Transaction and a Payables Transaction entry 48. Use the Bank Transaction entry window to create step1 of the EFT Reversal Process. Bank Transaction Create an Increase adjustment entry in the Bank Reconciliation module and distribute to a holding account which will be reversed in the next step. This will create an entry in the Bank Rec module which can be ticked off against the credit on the bank statement from the returned EFT payment. 127

128 128

129 Payables Transaction Enter an invoice with NO TAX in the Payables Management module. The debit entry will reverse the suspense/clearing account entered on the increase adjustment in the bank reconciliation module. This invoice then can be paid during the next cheque run 4.8 Edit Payables Transaction TRANSACTIONS >> PURCHASING >> EDIT TRANSACTION INFORMATION NAVIGATION PANE >> PURCHASING >> TRANSACTIONS >> EDIT TRANSACTION INFORMATION Use the Edit Payables Transaction window to change discount and due date information, P.O Number, Description and Remit-To ID for posted transactions. 49. The Edit Payables Transaction Window. Adjust the discount and due dates, description and purchase order number and the Remit To Id on the posted transactions. Transactions descriptions are also available to edit using this window. Select the creditors to edit. Specify the document type by using the document type drop-down menu, along with the document number. Use the lookup window, or the scrolling arrows to locate the document. The original amount, document date, and document number cannot be changed. To change these fields, void the transaction and re-enter the document. 129

130 Once all the necessary changes are made to the selected document, click Save to record the changes. 4.9 Change or Delete Creditor Records CARDS >> PURCHASING >> CREDITOR NAVIGATION PANE >> PURCHASING >> CARDS >> CREDITOR As businesses grow and change, it may be necessary to change information for creditors or remove creditors that no longer do business with the company. Use the Creditor Maintenance window to remove creditors. 50. The Creditor Maintenance Window. 130

131 The following training discusses how to change, modify and delete creditor records. The Creditor ID field cannot be changed on a creditor record. A creditor record cannot be deleted if: There is a current balance There are any posted or unposted transactions There are any open orders in Purchase Order Processing The creditor s status is active or inactive and there are transactions in history (temporary creditor records can be deleted even if they have transactions in history) Hold or Inactivate Creditors If a creditor cannot be deleted, a solution might be to place the creditor on hold. Select the Hold box to place the creditor on hold. A creditor can be placed on hold at any time. Select the Inactive status to inactivate the creditor record. A creditor record cannot be inactivated if: There is a current balance. There are any posted transactions in the open file. There are any open orders in Purchase Order Processing. Transactions not posted exist. Inactivating a creditor record does not remove the creditor's records from history; a message alerting that the creditor is inactive is generated by the system. The creditor status must be changed to active or temporary to enter a new voucher for the creditor Change or Delete Creditor Address Records CARDS >> PURCHASING >> ADDRESSES NAVIGATION PANE >> PURCHASING >> CARDS >> ADDRESSES Use the Creditor Address Maintenance window to create, modify and delete creditor address information. 131

132 51. The Creditor Address Maintenance Window. All address related fields can be changed on this window with the exception of the Address ID. An ID cannot be deleted if it is assigned as the creditor's primary address or, if it is assigned to a default creditor address on the Creditor Maintenance window. The following fields can be uniquely assigned and changed for each creditor address: Tax Schedule Shipping Method UPS Zone Click the Internet Addresses icon next to the Address ID lookup button to change any Internet related information for the selected address such as the contact's address. Click the MapPoint icon, which looks like a push pin, to access a map or directions to the site based on the address changes entered. 132

133 4.11 Mass Creditor Delete MICROSOFT DYNAMICS GP >> TOOLS >> UTILITIES >> PURCHASING >> MASS CREDITOR DELETE NAVIGATION PANE >> PURCHASING >> UTILITIES >> MASS CREDITOR DELETE Use the Mass Creditor Delete window to delete a large group of creditor records. 52. The Mass Creditor Delete Window. For example, use this procedure to delete any inactive creditor records at once. To delete only inactive creditors, select by Creditor Status in the Range drop-down menu; then select Inactive in the From and To range selection lists. Select the Print Report box to print a Creditor Mass Delete Report. This report displays all the deleted creditor records, and it can be useful for maintaining a historical record of the business relationship with the creditor. Although this window allows a range of creditors to be selected, only those creditors selected in the range who meet the requirements for deleting creditors are removed. Click the Printer icon located on the Mass Creditor Delete window prior to processing to view a report of creditors and to verify which creditors will be removed if the process is completed. The Messages field notes whether a creditor is going to be deleted or what criteria is restricting the record from being removed. Prior to deleting creditors, a backup of the company database is recommended. If the Creditor Mass Delete report is printed any time prior to processing; it shows the selected creditors as deleted even though processing did not yet occur. 133

134 4.12 Creditor Modifier and Combiner MICROSOFT DYNAMICS GP >> TOOLS >> UTILITIES >> Purchasing >> CREDITOR COMBINER AND MODIFIER Navigation Pane >> Purchasing >> UTILITIES >> CREDITOR COMBINER AND MODIFIER Creditor modifier and combiner have been moved to the core GP suite. Use this utility to modify a creditor ID after it has been created or combine creditors if, for example, the same creditor has been accidentaly created twice with two different ID s. If you are combing creditors enter the creditor ID you want to merge from in the Source Creditor ID field and the creditor ID you want to merge to in the Destination Creditor ID field. If you are modifying creditors enter the creditor ID you want to change in the Source Creditor ID field and enter creditor ID you want to modify it to in the Destination Creditor ID field. Once the creditor(s) have been set click process to finalise the changes. 134

135 4.13 Change Creditor Class Information MICROSOFT DYNAMICS GP >> TOOLS >> SETUP >> PURCHASING >> CREDITOR CLASS NAVIGATION PANE >> PURCHASING >> SETUP >> CREDITOR CLASS Use the Creditor Class Setup window to make changes to a class of creditors by using the roll down functionality available in Microsoft Dynamics GP. 53. The Creditor Class Window. When changing information in a class record, the information for all creditors assigned to this class can be changed quickly. This is referred to as rolling down changes. A roll down can be made when the information changed should be reflected on every creditor record associated with the class. 135

136 For example, changing the payment priority for a class. If changes are rolled down, the payment priority is changed for all creditors in the class. If changes are not rolled down, existing creditors are not changed. After changing the class, new creditors added (and assigned to this class) have the new payment priority. Be careful when rolling down class changes. If any class fields for individual creditors were changed, and those same fields change in the class record, the creditor's customized fields are set back to the class defaults if changes are rolled down from the class Reconcile MICROSOFT DYNAMICS GP >> TOOLS >> UTILITIES >> PURCHASING >> RECONCILE NAVIGATION PANE >> PURCHASING >> UTILITIES >> RECONCILE Use the Reconcile Payables Accounts window provides functionality to reconcile Payables Management transaction information. 54. The Reconcile Payables Accounts Window. 136

137 Use the reconcile process to reset any unapplied payments, unpaid finance charges and current balance totals in the Creditor Credit Summary Inquiry window to reflect the posted payments and transactions in Payables Management. A current year can also be reconciled to ensure the amounts on an aged trial balance report match the summary amounts on creditor lists. There is no need to reconcile these totals unless the amounts are manually changed, or some other unusual problem occurred. In addition to reconciling the transaction amounts, the reconcile process updates the On Order field on the Creditor Credit Summary window. In Purchase Order Processing there is also a reconcile utility that affects some financial fields in Payables Management. Select to reconcile all creditor records or those in a specified range. Ranges can be selected by: Creditor ID Creditor Name Creditor Class User-Defined 1 Payment Priority Period Amounts to Reconcile If reconciling the calendar year, a number of period amount options are available. Calendar Year reconcile options include all amounts. Options Select the Print Report box to print a reconcile report, which lists the creditor records and the unapplied payments, unpaid finance charges and the current balances reconciled during the process. Mark the Reconcile option and then click OK to begin the reconcile process and close the window. Before reconciling, it is recommended to make a backup of the company database. If using Purchase Order Processing, run the Reconcile Purchasing Documents utility before reconciling payables accounts. It is important the purchasing documents are correct since purchasing information can be altered and is used when the Reconcile Payables Accounts utility is performed. 137

138 Enquiries Section Outcomes At the end of this section participants will be able to: Enquiries Payables Transaction Enquiry Creditor Purchasing All in One document Payables Transaction Enquiry Document Creditor Credit Summary Enquiry Creditor Yearly Summary Enquiry Creditor Period Summary Enquiry Creditor Enquiry Payables Summary Enquiry 138

139 5.1 Introduction Microsoft Dynamics GP provides the opportunity to maintain transaction and creditor information and display the information either through enquiry windows or on a report. Information can be printed from most enquiry windows; to do so, select File, then Print or click the Printer icon. Use the Enquiry windows to view current year or historical information about creditors and transactions. Changes in the creditor records can be analysed using these windows, and there are often dynamic zooms available to originating information. Use the enquiry feature to review information in detailed or summary form. Because the enquiry windows provide access to information in a quick, efficient manner, there is always a view of the company's financial status. There are a number of features to help scan this information easily. Browse buttons provide the ability to move through a series of records by clicking an arrow button at the top of the window. Summary or detailed information can be viewed for the first record in the list, the previous record, the next record or the final record. All the enquiry windows, except for the Payables Summary Enquiry window, the Creditor Period Summary, and the Creditor Yearly Summary Enquiry window, have a zoom feature that is used to view the information entered when a creditor record, transaction or payment is added, or when a transaction or payment is applied. For example, select a Creditor ID in the Creditor Enquiry window, then zoom to the Creditor Maintenance window to view the posting accounts, creditor addresses and other information that is entered when the record is created. Several windows provide easy access to information about creditors, transactions and financial/calendar activity. 5.2 Payables Transaction Enquiry - Creditor ENQUIRY >> PURCHASING >> TRANSACTION BY CREDITOR >> NAVIGATION PANE >> PURCHASING >> ENQUIRY >> TRANSACTION BY CREDITOR Use the Payables Transaction Inquiry Creditor window to view transactions that are saved, posted or paid for a creditor record. 139

140 55. Payables Transaction Enquiry Creditor Window. When a Creditor ID is selected, the transactions for that particular creditor appear in a scrolling window. Select only the record statuses to be viewed to limit the documents that appear in the window. A range of documents can also be viewed by number, date, or type. To view more detailed information about a particular transaction, highlight it. Drag the pointer over the Document Number column heading or the Voucher/Payment Number column heading and click to zoom to the Payables Transaction Entry Zoom window or the Payables Payments Zoom window, depending on the type of transaction selected. Here, the following can be viewed: Entries as originally entered in Payables Transaction Entry, Payables Manual Payment Entry or Edit Creditor Payment. How the transaction is applied. How the amounts are distributed. How the taxes are calculated. 140

141 The Payables Transaction Entry Zoom window is helpful to view an outstanding transaction or how much of a payment is applied to a document. Select a specific document, drag the pointer over the Unapplied Amount column heading and click to zoom to the Payables Apply Zoom window. This window lists the documents that are applied to the selected document. To print the information displayed in the window, select File, Print from the Menu bar or click the Printer icon. After selecting range and statuses, do not forget to click Redisplay to put the changes into effect. 5.3 Purchasing All in One View all related purchasing documents in the same window. Accessible from the Creditor Maintenance window, many Purchasing Enquiry windows, Navigation lists and even the Home Page this window will save users time in searching for all relevant information for a purchasing document. The most recent documents will default into the window and to see the next set of 5 transactions use the navigation buttons under each column 141

142 To view related documents select the document checkbox to restrict view to only documents related to the document marked 5.4 Payables Transaction Enquiry Document ENQUIRY >> PURCHASING >> TRANSACTION BY DOCUMENT NAVIGATION PANE >> PURCHASING >> ENQUIRY >> TRANSACTION BY DOCUMENT 142

143 Use The Payables Transaction Inquiry - Document window provides the option to view transactions that are saved, posted or paid for all creditors. 56. Payables Transaction Enquiry Document Window. Limit the transactions that appear in the window by selecting a range of document numbers, document dates, and creditors. To view more detailed information about a particular transaction, highlight it. Drag the pointer over the Document Number column heading or the Voucher/Payment Number column heading and click to zoom to the Payables Transaction Entry Zoom window or the Payables Payments Zoom window, depending on the type of transaction selected. Here, the following can be viewed: Entries as originally entered in Payables Transaction Entry, Payables Manual Payment Entry or Edit Creditor Payment How the transaction is applied How the amounts are distributed How the taxes are calculated 143

144 The Payables Transaction Entry Zoom window can be helpful to view an outstanding transaction or how much of a payment is applied to a document. Select a specific document, drag the pointer over the Unapplied Amount column heading and click to zoom to the Payables Apply Zoom window. This window lists the documents that are applied to the selected document. For example, select an invoice then zoom on Unapplied Amount, the payments applied to the invoice are displayed. The invoices paid by the payment are displayed if selecting a payment and zooming on Unapplied Amount. To the right of the Unapplied Amount zoom is an expansion button where the Payables Transaction Revaluation Zoom window can be accessed. This window can be used to view the activity for Euro conversions recorded for an individual document. To print the information displayed in the window, select File, Print from the window menu bar or click the Printer icon. This inquiry is helpful when the document number or date is known, but not the Creditor ID. 5.5 Creditor Credit Summary Enquiry ENQUIRY >> PURCHASING >> CREDITOR CREDIT NAVIGATION PANE >> PURCHASING >> ENQUIRY >> CREDITOR CREDIT Use The Creditor Credit Summary Inquiry window can be helpful in deciding when to pay a creditor or to check the current balance total. 144

145 57. The Creditor Credit Summary Enquiry Window. Use the Creditor Credit Summary Inquiry window to view summary financial information about the purchases made from the selected creditor. A scrolling window displays the amounts of creditor purchases, based on their aging periods. The following can also be viewed: The current balance Information about the most recent payment to and invoice from, the creditor Unapplied payments Highest balance Unpaid finance charges First purchase date Days for cheques to clear Average days to pay life-to-date and year-to-date Number of paid invoices life-to-date and year-to-date 145

146 5.6 Creditor Yearly Summary Enquiry ENQUIRY >> PURCHASING >> CREDITOR YEARLY NAVIGATION PANE >> PURCHASING >> ENQUIRY >> CREDITOR YEARLY Use the Creditor Yearly Summary Inquiry window to view a creditor's yearly activity. 58. The Creditor Yearly Summary Enquiry Window. The information in this window is updated automatically as transactions are posted in Payables Management. This window shows the year to date, last year, and life to date summary amounts for the chosen creditor for numerous fields. The window can also be used to view information for a range of periods. 146

147 The Summary options are: Calendar Year Financial Year Amounts Since Last Close To view Calendar Year, Financial Year, or Amounts Since Last Close, select a Summary View from the dropdown list. The default summary view from Payables Management setup appears when initially accessing the window, but this can be changed. If viewing by calendar or financial year, enter the year and click the Calculate button. Information displayed is based on transaction dates. A period range can also be entered to view quarterly or semi-annual amounts when using the Calendar or Financial Year views. 5.7 Creditor Period Summary Enquiry ENQUIRY >> PURCHASING >> CREDITOR PERIOD NAVIGATION PANE >> PURCHASING >> ENQUIRY >> CREDITOR PERIOD Use the Creditor Period Summary Inquiry window to analyse trends in purchasing activity over a number of financial periods. 59. The Creditor Period Summary Enquiry Window. 147

148 The Creditor Period Summary Inquiry window is also used to view purchasing activity with a creditor by financial or calendar period. Select a creditor, period and year to view and the financial information displays. Grant security access to this window for those individuals who need to view creditor summary information, but are not allowed to change it. 5.8 Creditor Enquiry ENQUIRY >> PURCHASING >> CREDITOR NAVIGATION PANE >> PURCHASING >> ENQUIRY >> CREDITOR Use the Creditor Inquiry window to view demographic and other account information that is entered for a particular creditor in the Creditor Maintenance window. 60. The Creditor Enquiry Window. 148

149 In this window, view the creditor status, primary address, telephone and fax number, tax schedule, shipping method, UPS zone or courier name, creditor account and any comments entered. Click the Options button to display the Creditor Options Inquiry window. Use this window to view the payment priority, minimum order, trade discount, payment terms, Tax ID and tax registration numbers, grace period, minimum payment type, maximum invoice amount for the creditor and the credit limit and write-off amount with the creditor. 5.9 Payables Summary Enquiry ENQUIRY >> PURCHASING >> PAYABLES SUMMARY NAVIGATION PANE >> PURCHASING >> ENQUIRY >> PAYABLES SUMMARY Use the Payables Summary Inquiry window to view the total number of documents for each of the document types in Payables Management, along with the total amount for each type and an aging summary. 61. The Payables Summary Enquiry Window. 149

150 Define the range to view and click Calculate to populate the fields. Ranges available include: Creditor ID Creditor Name Creditor Class User Defined 1 Payment Priority To print the information displayed in the window, select File, and Print from the Menu bar or click the Printer icon EFT Payment Enquiry ENQUIRY >> PURCHASING >> BANKPRO EFT PAYMENT ENQUIRY NAVIGATION PANE >> PURCHASING >> ENQUIRY >> BANKPRO EFT PAYMENT ENQUIRY Use the Bankpro EFT Payment Enquiry to enquire on payments made to suppliers electronically. 62. Bankpro EFT Payment Enquiry Window 150

151 Reports Section Outcomes At the end of this section participants will be able to: Reports Create report options and print reports Historical Aged Trial Balance Cheque Register Report Print reports using groups or combined groups 151

152 6.1 Report Options and Printing REPORTS >> PURCHASING >> <SELECT REPORT> NAVIGATION PANE >> PURCHASING >> REPORTS >> <SELECT REPORT> Use Reports can be used to analyse creditor, transaction and payment activity and pinpoint errors in transaction entry. Payables Management reports provide excellent audit tools for tracking transactions and simplifying audits. Use Microsoft Dynamics GP to create a report option once and print it again at any time without having to redefine the option. As a result, the reports printed are always up-to-date and can be printed easily at any time. At least one report option must be created for each report to be printed. Follow the procedures outlined in this topic to set up report options for all Microsoft Dynamics GP reports. Save the reports used most often to My Reports, making it easy to locate these key reports. Click the Report List icon located on the shortcut bar or select a report type from the purchasing Reports content pane. For example, if Analysis from the Purchasing series is selected, there is the option of selecting different purchasing analysis report types. 63. The Payables Trial Balance Reports Window. 152

153 Create or Modify Report Options Create a new report option or modify an existing report option. At least one report option must be defined to print a report. To create a new option for the selected report type, click New to display the Report Options window. Then enter a name and use the following steps to define the option. The selections available for defining report options vary depending on the report type selected. A sorting method can be selected, and ranges of selected items can be printed, such as Creditor ID or Creditor Class. If a report option previously created needs to be changed, highlight the option name in the Options window and click Modify. Then make the appropriate changes and save the option. 64. Historical Aged Trial Balance Report Options Window. Enter Range Restrictions Use the Ranges list to display items ranges can be set for. Limit the amount of information that appears on reports by specifying ranges of items that are included on the report. The items included in the list vary depending upon the type of report being printed. 153

154 For example, if printing an Invoicing Sales Analysis Report, the range of information to be printed can be restricted by item number, Customer ID, and document date. When entering a range if finished, click Insert and the range appears in the Restrictions list box. If necessary, another range can be added to the report. To remove an existing range from the list, highlight the range and click Remove. One range can be entered for each of the available range types. 65. The Report Destination Window. Select a Report Destination To select printing destinations, click Destination. Reports can be printed to the screen, to the printer or to an export file, or to any combination of these options. With Microsoft Dynamics GP the report destinations can be set to default to either the screen or the printer each time the Report Destinations window is used. If Ask Each Time is selected, printing options can be selected each time there is a need to print. If printing destinations do not need to be selected each time this option is used, leave Ask Each Time cleared and the report is automatically printed to the destination previously selected. Reports can be exported - or saved as a file - to be printed or inserted into another application, such as a spreadsheet, and they can be saved in five different file formats. Each of the file formats allow the report to be read by other applications, such as spreadsheets, where it can be further modified. 154

155 Report File Formats Microsoft Dynamics GP reports can be saved in the following file formats: Tab - Tab-delimited Fields - Tab-separated ASCII character format used by many software applications. Comma - Comma-delimited Fields - Standard comma-separated ASCII character format used by database programs, such as dbase and 4th Dimension. Text - Text File - Reports are saved as text without the formatting. This option is used when the application this document is being converted to is unable to read any of the other file formats. HTML file - This allows placing information onto a Web page and accessing it from the Internet or from the company's Intranet. Adobe PDF file - This is available if the Acrobat PDF Writer print driver installed. This driver is part of the Acrobat package available from Adobe. PDF (Portable Document Format) files can be read using the Acrobat Reader software available from Adobe. To export a report, select File in the Destination column. Click the File button to open the Save to Export File window which is used to name the file and enter a pathname. Select a file format and then click Save to return to the Report Destination window. If an existing file name is entered, select whether to append (add the new report to the bottom of the existing file) or replace the information in the existing file. Click OK and the Report Options window becomes active. Save the report option. Print the Report The report option can be printed from the Report Options window before saving it. If the option does not need to be printed at this time, click Save and close the window. The Reports window then becomes active. Select the report options to print and click Insert to insert them into the Print list. One or more report options can be printed from this window by inserting them in the Print list and clicking Print. The same option cannot be used by multiple reports. If the objective is to have identical options for two or more reports, separate options must be created for each report. When entering range restrictions for reports, either the To or From field can be left blank; Microsoft Dynamics GP assumes the blank field indicates the beginning or the ending of the range, respectively. Whenever possible, use dynamic date ranges like Beginning of Month and End of Month. These choices use the user date to determine the date range for the report, rather than the Current Date which requires modifying the option each time to enter the dates. 155

156 When printing reports, after clicking the Print button, the report immediately begins processing in the background; however, there can be difficulty realizing the report is processing. To check what is processing in the background, select Process Monitor from the File menu. 6.2 Historical Aged Trial Balance REPORTS >> PURCHASING >> TRIAL BALANCE >> HISTORICAL AGED TRIAL BALANCE NAVIGATION PANE >> PURCHASING >> REPORTS >> TRIAL BALANCE >> HISTORICAL AGED TRIAL BALANCE The Historical Aged Trial Balance is an Aged Trial Balance for a previous period. This report displays all documents that were outstanding in the date range you select, along with payments and aging periods. Keep the printed copy as a part of your audit trail and as a valuable reference if questions should arise about past transactions. 66. The Historical Aged Trial Balance with Options Window. 156

157 The following provides a description of the fields within this window: Option Enter a name for your report option. Common examples are: Monthly Summary, Monthly Detail, Current Summary, Current Detail. In Detail Mark this option to print the report in detail. If you don't mark this option, the report is printed in summary. This option isn t available when you re printing the Quick Aged Trial Balance. Sort Creditors Select how to sort the creditor records on the report. Selections vary depending on the report you re printing. Sort Documents Select a sorting order for records on the report. Sorting options vary depending on the report you're printing. Print/Age as of Select how to age the documents included in the report. Select Transactions For Report Using Mark GL Posting Date or Document Date to determine the transactions that should appear on the report. This option is available only when you re printing the Historical Aged Trial Balance. The posting date might be different from the document date of the entered transactions. For example, assume you enter and post a transaction with January 15, 2007, as the document date and January 20, 2007, as the posting date. If you print a trial balance with a posting date range of January 20, 2007, to January 20, 2007, the transaction would be included on the report. If you print a trial balance report with a document date range of January 20, 2007, to January 20, 2007, the transaction wouldn t be included on the report. Exclude Mark the following options to exclude that information from appearing on the report you're printing. These options are only available when you re printing the Aged Trial Balance with Options and the Historical Aged Trial Balance. The options available depend on the report you're printing. Credit Balance Mark this option to exclude creditor records with credit balances from the report. Zero Balance Mark this option to exclude creditor records with zero balances from the report. 157

158 Unposted Applied Credit Documents Mark this option to exclude posted, unapplied payments from the report. Fully Paid Documents Mark this option to exclude fully paid documents from the report. No Activity Mark this option to exclude creditor records with no activity for the Print/Age as of date from the report. Multicurrency Info Mark this option to exclude multicurrency information from the report. This option is available only if you're printing in detail. To print the Multicurrency versions of those reports, don't mark this option; instead, mark In Detail. Print Currency In Select whether to print the functional currency or reporting currency on selected reports. This field is available only if you are registered for Multicurrency Management and you re printing the Aged Trial Balance with Options or the Historical Aged Trial Balance. If you select Reporting, the rate calculation method and exchange rate information from the Multicurrency Setup window or the Modify Reporting Rate window appears. You must have a reporting currency entered in the Payables Trial Balance Report Options window to select Reporting. You can print the multicurrency report listed, and multicurrency versions of the other two reports listed, only if you marked Include Multicurrency Info in the Posting Setup window. Exchange Rate Displays the exchange rate if you have Multicurrency Management registered and you selected to print the report in the reporting currency. If you marked to Allow Override Reporting Rate in the Multicurrency Setup window, you can change the exchange rate. This field is only available when you re printing the Aged Trial Balance with Options or the Historical aged Trial Balance. Rate Calculation Method Displays the calculation method for the exchange rate if you have Multicurrency Management registered and have selected to print the report in the reporting currency. If you marked Allow Override Reporting Rate in the Multicurrency Setup window, you can change the rate calculation method. This field is available only when you re printing the Aged Trial Balance with Options or the Historical Aged Trial Balance. Ranges Specify a range to restrict information on the report. Selections in the list will vary depending on the report you're printing. 158

159 From Enter the start of a range to restrict the information that will appear on a report. If you don't enter anything, the first record in the range type will be the default entry. To Enter the end of a range to restrict the information that will appear on a report. If this field is blank, the last record will be the end of the range. Restrictions Displays the restrictions for the report option. 6.3 Creditor Cheque Register REPORTS >> PURCHASING >> CHEQUE INFORMATION >> CREDITOR CHEQUE REGISTER NAVIGATION PANE >> PURCHASING >> REPORTS >> CHEQUE INFORMATION >> CREDITOR CHEQUE REGISTER The Creditor Cheque Register Report provides a record of computer, manual, and voided cheque issued within a given month or period. You can compare this report with your bank statement. 67. The Creditor Cheque Register Report Options Window. 159

160 The following provides a description of the fields within this window: Option Enter or select the name of a report option for the report or journal you re creating or modifying. Sort Select a sorting order for records on the report. Sorting options vary depending on the report you're printing. Exclude Voided Mark this option to exclude information about voided cheques. Only non-voided cheques are included on the report. This option is available only if you're printing a Creditor Cheque Register Report. Voided Only Mark this option to print information about voided cheques only. This option is available only if you're printing a Creditor Cheque Register Report. Include Alignments Mark this option to include cheque numbers that tested the alignment of cheque forms in your printer. This option is available only if you're printing a Creditor Cheque Register Report. Include Multicurrency Info Prints the multicurrency version of the Creditor Cheque Register Report. Ranges Specify a range to restrict information on the report. Selections in the list will vary depending on the report you're printing. From Enter the start of a range to restrict the information that will appear on a report. If you don't enter anything, the first record in the range type will be the default entry. From Enter Date field Enter the starting date for your range, if you selected Cheque Date in the Ranges list and Enter Date in the From list. To Enter the end of a range to restrict the information that will appear on a report. If this field is blank, the last record will be the end of the range. 160

161 To Enter Date field Enter the ending date for your range, if you selected Cheque Date in the Ranges list and Enter Date in the To list. Restrictions Displays the restrictions for the report option. 6.4 Report Groups REPORTS >> PURCHASING >> GROUPS NAVIGATION PANE >> PURCHASING >> REPORTS >> GROUPS At various times, a procedure can require printing several different reports in a single step. All report options created within a series can be saved in groups and printed together from the Groups window for that series. 68. The Purchasing Report Groups Window. For example, a report group can be created to print all the purchasing analysis reports. The following can be accomplished from the Purchasing Report Groups window: A report group can be printed. An existing group can be modified. 161

162 A new reports group can be created. Printing Report Groups To print a group that is already created, select the group name from the Groups list and click Print. To add a report to an existing group, select the group name from the Groups list and complete the following steps for adding a report. Select a Report Type. Select the Report. Select the Report Option. Click the Insert button to add it to the group. Click the Save button to save entries. Enter a Group Name. Click Save to save the Group. To remove a report from an existing group, select the report name in the Group Members scrolling window and click Remove. The same option cannot be used by multiple reports. If the objective is to have identical options for two or more reports, separate options must be created for each report. If the Ask Each Time printing option is selected when creating any of the individual report options included in a group, the system generates prompts to be followed for printing instructions before any of the reports are printed. A group may contain any combination of report categories and report types. Up to 32 reports can be included in a single group. 6.5 Combined Report Groups REPORTS >> COMBINED GROUPS At various times, a procedure can require several different reports to be printed from several different modules in a single step. All Microsoft Dynamics GP reports can be saved in individual series report groups, which can then be added to a Combined Group and printed together from the Combined Report Group window. 162

163 69. The Combined Report Groups Window. For example, a combined report group can be created to print a purchasing analysis report from the Purchasing series as well as a trial balance for the sales accounts from the Financial series. From the Combined Report Group window: A combined report group can be printed. An existing combined report group can be modified. A new combined report group can be created. Printing Combined Groups To print a combined group that is already created, select the combined group name from the Combined Groups list and click Print. To add a report group to an existing combined group, select the group name from the Groups list and complete the following steps for adding a report. Select the Report Group. Click the Insert button to add it to the combined group. Click the Save button and enter a Combined Group name. To remove a group from an existing combined group, select the report name in the Combined Group Members list and click Remove. Report Groups must be set up before they can be added to a Combined Report Group. 163

164 If the Ask Each Time printing option is selected when creating any of the individual report options included in a combined group, the system generates prompts to be followed for printing instructions before any of the reports are printed. 164

165 Period End Procedures Section Outcomes At the end of this section participants will be able to: Period-End Procedures Identify the recommended steps to close a period in Payables Management Identify the recommended steps to close the calendar year in Payables Management Identify the recommended steps to close the financial year in Payables Management 165

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167 7.1 Introduction Period-end procedures in Payables Management consist of: Period-end closings Financial year closings Calendar year closings This training discusses each of these closings and the recommended steps that need to be completed at each closing. Many of the steps are optional. 7.2 Closing a Period Many businesses print certain reports at the end of each period as part of the period-end procedures. These include the Aged Trial Balance, Historical Aged Trial Balance, and Creditor Summary reports. Refer to the sample reports that come with the product for reports to include as part of the period-end process. There are also a number of typical steps businesses take when closing a period in Payable Management. However, none of the steps to close a financial period are necessarily required in the system. Periods can be left in an open state throughout the financial year if so desired. Determine the steps to require when a period is closed, and follow these steps each period. 7.3 Reconcile to General Ledger MICROSOFT DYNAMICS GP >> TOOLS >> ROUTINES >> FINANCIAL >> RECONCILE TO GL NAVIGATION PANE >> FINANCIAL >> ROUTINES >> RECONCILE TO GL Use the Reconcile to GL window to reconcile Payables Management to the General Ledger. 167

168 70. The Reconcile to GL Window. The main benefits of the reconciliation feature include: It automatically matches transactions for users. It identifies any transaction discrepancies between the sub-ledger and General Ledger. For example, the reconcile process identifies any Payables Management transactions that do not have a corresponding transaction distribution line in General Ledger, and it also reduces the amount of time spent reconciling the Payables Management sub-ledger to General Ledger. This feature does not automatically fix imbalances between Payables Management and General Ledger. The reconcile process does not automatically do the following: Correct posted transactions Back out posted transactions Void existing transactions Create new adjusting transactions to balance the sub-ledger and General Ledger 168

169 Reconcile Processing Select each of the Accounts Payable accounts in General Ledger that creditors outstanding balances are posted to. In addition to Accounts Payable accounts, other accounts can be entered such as Discounts Available. The balance of all the accounts entered in this window is the amount the sub-ledger balance is reconciled against. Only sub-ledger and General Ledger transactions posted within the specified date range display in detail for the reconciliation process. For payables transactions, the General Ledger posting date is used to determine if a transaction falls within the date range entered. The balances listed on the report include: Beginning balances The difference between the beginning balances Transactions entered during the date range specified The total ending balances The difference between the ending balances During this process, Microsoft Dynamics GP also matches transactions from Payables Management to the distribution lines in General Ledger. The process identifies the following: Transactions that exist in both the sub-ledger and General Ledger Transactions that exist in either the sub-ledger or General Ledger, but not both Transactions that potentially match, but do not meet all the matching criteria During this process the sub-ledger and General Ledger balances can match, but the system can still find exceptions. For example, an invoice for $75.00 is posted into Payables Management, but the distributions are not posted to General Ledger because the posting settings are not correct. Once the mistake is found a journal entry can be entered manually into General Ledger. In this example $75.00 is in both Payables Management and General Ledger, but the transactions are not linked through an audit trail code, document number, and so on. The transactions can be identified as potential matches, but they are also identified as exceptions. Analysis of the reconciliation report is an important aspect of the process. The results are sent to a Microsoft Excel spreadsheet to provide the appropriate tools to perform an analysis. Excel provides the typical functionality of any spreadsheet, such as re-sorting the data, adding comments to the data, adding totals, and more. Save each spreadsheet to record how exceptions are handled. For example, an exception on a Payables Management transaction can be addressed through a journal entry made in the General Ledger. A comment can be added to the transaction, noting the action taken to fix the problem is the entry of a General Ledger transaction. 169

170 Some issues or process errors that can cause the two modules to be out of balance include: Transactions in Payables Management are not posted to the correct General Ledger account. Not all Payables Management batches are posted in General Ledger. Not all the Accounts Payable accounts in General Ledger are included in the reconciliation process. Batches from Payables Management are edited in General Ledger prior to posting causing the Accounts Payable balance to differ between the two modules. Some adjustments are made to the Accounts Payable accounts directly in General Ledger. These adjustments are not reflected in Payables Management. If discounts available in General Ledger are being tracked, do not forget to add the Discounts Available accounts to the Accounts Payable accounts for the General Ledger balance. Payables Management documents are voided in a different period in General Ledger than Payables Management. Prior periods are not reconciled making the period's beginning balance incorrect. There can be posting interruptions that caused Payables Management batches to not update the General Ledger properly. 7.4 Closing Financial Periods MICROSOFT DYNAMICS GP >> TOOLS >> SETUP >> COMPANY>> FINANCIAL PERIODS NAVIGATION PANE >> ADMINISTRATION >> SETUP >> FINANCIAL PERIODS Use the Financial Periods Setup window to select the period that is being closed for the Purchasing series. 170

171 71. The Financial Periods Window. Once the period is closed, transactions can no longer be posted to it. Completing this step is optional. A financial period can be reopened at any time to allow transactions to be posted to it. A trial balance can be printed for closed periods since the detailed transactions are still available. The scrolling window provides the ability to close individual series for specific periods or for all periods. Select the check box for the series and period to close. For example, to close the Purchasing series so no more cheques or invoices are entered for the previous period, select Purchasing, but keep the Financial series open and continue to enter any necessary adjusting entries. Click the Mass Close button to open the Mass Close Financial Periods window. Microsoft Dynamics GP provides the option to close specific transaction origins within a series. For example, close all Purchasing series origins except the Payables Trx Entry origin. Transactions for this period are only allowed in the Payables Trx Entry window. Restrict the view by period, series, and origin and decide which origins to close. Remember to leave the series open on the main Financial Periods Setup window when using the Mass Close feature. 171

172 7.5 Closing the Calendar Year MICROSOFT DYNAMICS GP >> TOOLS >> ROUTINES >> PURCHASING >> YEAR END CLOSE NAVIGATION PANE >> PURCHASING >> ROUTINES >> YEAR END CLOSE Closing the calendar year is not required in Australia and is optional. This procedure is generally performed before entering transactions for a new calendar year, although it is not necessary. Microsoft Dynamics GP automatically posts to the correct calendar year according to the dates of the transactions. Closing the year only affects the Amounts Since Last Close view within the Creditor Yearly Summary window. It is recommended to print an Aged Trial Balance with Options report or the Historical Aged Trial Balance if transactions have been posted to the new year, to show the status of each creditor account. This report should be kept with permanent records as part of the audit trail. If closing the financial year along with the calendar year, it is recommended to print the Creditor Period Analysis Report and the Creditor Year-to-Date Summary reports for your permanent records because these amounts are transferred to last year during the year-end closing process. 72. The Payables Year-End Closing Window. Select which year to close. If the calendar year coincides with the financial year, select All. If they do not coincide, close the financial year separately. Refer to the topic on closing the financial year in this training for additional information about closing a financial year. 172

173 Select the Print Report box to print the Payables Year-end Closing Report after the closing process is complete. This report lists the amounts that are transferred to history for each creditor. The Year-end Closing Report is part of the audit trail and needs to be saved with the company's permanent records. Click the Close Year button to begin the closing process. The Year-End Closing Report is printed after the year is closed, if the report is selected to be printed. Also, the Last Closing Dates is updated. The calendar year-end closing process clears out 1099 year-to-date amounts in the Creditor Yearly Summary window. 7.6 Closing the Financial Year MICROSOFT DYNAMICS GP >> TOOLS >> ROUTINES >> PURCHASING >> YEAR END CLOSE NAVIGATION PANE >> PURCHASING >> ROUTINES >> YEAR END CLOSE Closing the financial year transfers all the summary amounts tracked in Payables Management other than the 1099 amounts to last year. This procedure is generally performed before transactions are entered for a new financial year, although it is not necessary. Microsoft Dynamics GP automatically posts to the correct financial year according to the dates of the transactions. Closing the year is only going to affect the Amounts Since Last Close view within the Creditor Yearly Summary window. It is recommended to print an Aged Trial Balance with Options report or the Historical Aged Trial Balance if transactions are posted to the new year, to show the status of each creditor account. Keep this report with the permanent records as part of the audit trail. If the financial year is being closed along with the calendar year, it is recommended to print the Creditor Period Analysis Report and the Creditor Year-to-Date Summary reports for the permanent records because these amounts are transferred to last year during the year-end closing process. 173

174 73. The Payables Year-End Closing Window. The last closing date for each year is displayed so a year is not closed by mistake. Select which year to close. If the calendar year coincides with the financial year, select All. If they do not coincide, close the financial year separately. Refer to the previous topic Calendar Year-end Closing for additional information about closing a calendar year. Select the Print Report box to print the Payables Year-end Closing Report after the closing process is complete. This report lists the amounts that are transferred to history for each creditor. The Year-end Closing Report is part of the audit trail and needs to be saved with the company's permanent records. Click the Close Year button to begin the closing process. The Year-end Closing Report is printed after the year is closed, if the report is selected to be printed. Also, the Last Closing Dates are updated. The financial year-end closing process clears out all fields and updates the history column in the Creditor Yearly Summary window. 7.7 Closing the Tax Year MICROSOFT DYNAMICS GP >> TOOLS >> ROUTINES >> COMPANY >> TAX YEAR END CLOSE NAVIGATION PANE >> ADMINISTRATION >> ROUTINES >> TAX YEAR END CLOSE Use the Tax Year-End Closing window to close the sales tax year and print the Tax Year-End Closing report. 174

175 74. The Tax Year End Closing Window. The Last Date Closed field displays the most recent date the tax year-end closing process is performed. Select the Close Year option to close the tax year. This procedure cannot be performed unless this option is selected. The tax yearend close process moves the Total Sales/Purchases, Taxable Sales/Purchases and Sales/Purchases Taxes amounts from the Year to Date column to the Last Year column for each tax detail. Select the Print Report option to print a report that contains year-end tax amounts. It is recommended to print this report and store it with the company's permanent records as part of the audit trail. To review and compare year-to-date and previous year tax figures periodically, choose only to print the report without closing the tax year, if so desired. Only complete this procedure after the year-end closing procedures for all sales and purchasing modules are completed. The tax year-end close can be performed at calendar year-end or financial year-end, but only complete this step once a year. 175