Chapter 7: Use and Design of the Accounts Receivable and Accounts Payable ModulesCHAPTER 7: USE AND DESIGN OF THE ACCOUNTS RECEIVABLE AND ACCOUNTS PAYABLE MODULES Objectives The objectives are: • • • • • • • • • • • • • Describe the activities and transactions that can be created for customers. Review the customer data model. Describe the activities and transactions that can be created for customers. Describe how free text invoices are used. Review the data model and framework that is used for processing free text invoices. Review the various ways that vendor invoices can be generated. Describe the set up that is required for payments and review the data model for payment set up. Describe how customer and vendor payments are made. Review the customer payment data model and discuss the framework that is used for making and generating payments. Describe how collections and interest notes are used. Review the data model and framework for interest notes. Describe the functionality that is available for bill of exchanges. Describe the functionality that is available for promissory notes. Introduction The Accounts receivable and Accounts payable modules offer similar functionality for customers and vendors. The modules are used to maintain the customer and vendor information and the transactions that occur for each. This chapter reviews the functionality that is available for customers and vendors and the primary transactions that occur for each module. Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement 7-1 Development IV in Microsoft Dynamics® AX 2012 Customers Accounts receivable is used to track customer invoices and incoming payments. You can create customer invoices for a sale that is based on sales orders or packing slips. You can also enter free text invoices that are not related to sales orders. Additionally you can generate customer invoices from a project. You can receive payments by using several different payment types. These include bills of exchange, cash, checks, credit cards, and electronic payments. If your organization includes multiple legal entities, you can use centralized payments to record payments in a single legal entity on behalf of the other legal entities. You can use the Settle open transactions form to settle invoices with payments or credit notes. You can also enter payments and settle them in the Enter customer payments form. To view customer information, use the All customers list page and related forms. You can manage overdue balances, calculate interest, and generate collection letters by using the Collections list page and related forms. Accounts Receivable Processes The main tasks supported by the Accounts receivable module include the following. • • • • • • • • • • Maintain customers Free text invoice Request payment Register payment Bill of exchange Account statement Collection letter Interest calculation Exchange adjustment Reconciliation 7-2 Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement Chapter 7: Use and Design of the Accounts Receivable and Accounts Payable Modules The following figure shows the Accounts receivable business process. FIGURE 7.1 ACCOUNTS RECEIVABLE BUSINESS PROCESS Maintain Customers Creating new customers and maintaining existing customer information is an ongoing task. Make sure that customer setup is correct to guarantee smooth communication and to avoid calculation errors. Some customers are transferred from the Prospects form in the Sales and marketing module. However, other customers must be created manually in the Accounts receivable module. The customer forms and list pages are available from the Accounts receivable and the Sales and marketing modules. Customer sales prices and discounts for items sold should be maintained. Prices can be set up specifically for individual items and customers, for a group of customers or for all customers as one group. The price structure also includes line, multiline, and total discounts. The actual value of invoices due in a foreign currency can change over time as the result of exchange rate fluctuations. Because an invoice’s value is calculated in the accounting currency when the transaction is posted, you could have to make periodic exchange rate adjustments to revalue foreign currency receivables. Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement 7-3 Development IV in Microsoft Dynamics® AX 2012 Reconciliations guarantee that registrations about customer transaction status are correct. The reconciliation process includes different kinds of reporting to analyze open transactions and to make sure that they are reflected correctly in the General ledger module. It is also important that the customer has the same opinion of the current status of the financial relationship. Accounts Receivable Integrations The Accounts receivable module helps monitor relationships between the company and its customers. The following figure shows interfaces with other Microsoft Dynamics AX 2012 modules. FIGURE 7.2 ACCOUNTS RECEIVABLE INTEGRATIONS The Accounts receivable module handles customer-related transactions. The primary focus of the module is to keep track of open invoices and to register payments. The Sales and marketing module handles administration of potential customers or prospects. This includes submission of quotations. When a quotation is accepted, it is then transferred to a sales order. At this point, the potential customer is created as an actual customer. 7-4 Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement The customer’s expected sales can be forecast and used in master planning.Chapter 7: Use and Design of the Accounts Receivable and Accounts Payable Modules Trade agreements (terms and conditions) made with the customer are registered and maintained in cooperation with the Inventory and warehouse management module. When a sales order or project is invoiced. All customer financial movements are replicated in the General ledger module. the information is passed to the Accounts receivable module that administers payment collection. and so on) is represented by one record in the CustTrans table. Payment transactions are recorded in the Cash and bank management module that controls the company’s bank accounts.3 CUSTOMER DATA MODEL Each transaction (invoice. payment. Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement 7-5 . FIGURE 7. Customer Data Model The following figure shows the data model for customers and customer transactions. The General ledger module keeps track of all company financial transactions. The information includes the date of the settlement. vendor invoice policies. If your organization includes multiple legal entities. and workflow to automate the review process so that invoices that meet certain criteria are automatically approved. you can review and approve the invoices by using an invoice approval journal or the Vendor invoice form. CustSettlement contains information about settlement between transactions in CustTrans. and the remaining invoices are flagged for review by an authorized user. You can settle invoices with payments or credit notes by using the Settle open transactions form. After the invoices are entered or received. you can pay vendors. promissory notes. These include checks. • • • • • • 7-6 Maintain vendors Register invoice Invoice approval Payment proposal Register payment Promissory notes Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement .Development IV in Microsoft Dynamics® AX 2012 CustTransOpen contains one or more records for all transactions in CustTrans that are not completely settled against other transactions. This information is stored in a separate table. or your vendor can enter the invoices by using a vendor portal. you can use centralized payments to pay all invoices from a single legal entity. You can use invoice matching. To view vendor information. The record refers to the two transactions (TransRecId and OffsetRecId) and specifies the amount settled between the two transactions. This data structure allows you to retrieve a customer balance at any point in time as it transitions from the open to the closed state. The relation between CustTransOpen and CustTrans is made by the RefRecId in CustTransOpen that is a foreign key to the RecId of the related CustTrans. Accounts Payable Processes The main tasks supported by the Accounts payable module include the following. Both open and settled parts of a customer transaction can have related cash discount information. use the All vendors list page and related forms. CustTransCashDisc. Multiple payment formats are supported. because each transaction part can have multiple cash discount specifications. and Single Euro Payments Area (SEPA) electronic payments. Vendors Accounts payable is used to track vendor invoices and outgoing expenditures. The reason for this design is that one open transaction can be distributed across several due dates by using payment schedules. This makes it possible to backdate or future date a transaction’s settlement status in CustTrans. After vendor invoices are approved. You can enter vendor invoices manually or receive them electronically through a service. Chapter 7: Use and Design of the Accounts Receivable and Accounts Payable Modules • • Exchange adjustment Reconciliation The following figure shows the Accounts payable business process. or for all vendors as one group. for a group of vendors. Make sure that vendor setup is correct to guarantee smooth communication and to avoid calculation errors. Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement 7-7 . multiline. Prices can be set up specifically for individual items and vendors. The price structure also includes line.4 ACCOUNTS PAYABLE BUSINESS PROCESS Maintain Vendors Creating new vendors and maintaining existing vendor information is an ongoing task. and total discounts. Purchase prices and discounts for items purchased should be maintained. FIGURE 7. Therefore. 7-8 Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement . FIGURE 7. The data model for vendors and vendor transactions resembles the customer data model.5 ACCOUNTS PAYABLE INTEGRATIONS The Accounts payable module handles vendor-related transactions. The following figure shows interfaces with other Microsoft Dynamics AX 2012 modules.. When a purchase order invoice is recorded. and the customer data model tables begin with Cust. The primary focus of the module is to keep track of invoice approval and payment processing. the data model for vendors is not reviewed. All vendor financial movements are replicated in the General ledger module. the information is passed to the Accounts payable module that administers invoice approval and payment processing. Trade agreements (terms and conditions) made with vendors are registered and maintained with the Inventory and warehouse management module. Payment transactions are recorded in the Cash and bank management module that controls the company’s bank accounts. The General ledger module keeps track of all company financial transactions. The primary difference between the data models is that the vendor data model tables begin with Vend.. Expected purchases can be forecast and used in master planning.Development IV in Microsoft Dynamics® AX 2012 Accounts Payable Integrations The Accounts payable module helps monitor relationships between the company and its suppliers. Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement 7-9 . because the standard application only handles basic scenarios. Free Text Invoice Data Model A free text invoice is an invoice that is not attached to a sales order. free text invoices are a good option when integration to other functions is required. or for a miscellaneous fee for an event reimbursement. A free text invoice contains a header and one or more lines for items or services that are not tracked in inventory. Then you can run a simple job to create the invoice. Implementing free text invoices as the primary invoice engine will typically require some additional programming. This lack of integration makes the use of free text invoices simpler and creates fewer database records. Although sales order invoices are integrated with the Inventory and warehouse management module. Additionally.Chapter 7: Use and Design of the Accounts Receivable and Accounts Payable Modules Free Text Invoices The Accounts receivable module has its own invoice function. Therefore. With recurring free text invoices you can create templates that are linked to one or more customers to be invoiced at set intervals. the free text invoice includes source document support and subledger journal distributions. and another job to post the invoices. Free text invoices in Microsoft Dynamics AX 2012 introduce a new recurring free text invoice feature. you can use a free text invoice for a consulting fee or services fee. For example. Use a free text invoice for sales that do not require a sales order and packing slip. A new corrections feature and workflow for free text invoices is also introduced. free text invoices are not related to inventory items. TIP: Project related invoices go into the ProjInvoiceJour and ProjInvoiceTrans tables instead of the CustInvoiceJour and CustInvoiceTrans tables. The CustRelatedInvoice table contains the relationship between the original. PrintMgmtSettings and PrintMgmtIdentificationText. parent. The invoice report is shared with the Sales and marketing module.Development IV in Microsoft Dynamics® AX 2012 The following figure shows the free text invoice data-model. whereas CustInvoiceLine contains details about invoice lines. FIGURE 7. The setup is included in the tables PrintMgmtDocInstance. 7-10 Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement . corrected and adjusting invoice. Printing setup and copies can be specified individually for each customer. When an invoice is posted. This means that the journal and the invoice report already contain quantity and price fields. CustInvoiceJour and CustInvoiceTrans also contain invoices posted in the Sales and marketing module. its information is copied to the invoice journal with the header in CustInvoiceJour and the lines in CustInvoiceTrans. This setup can be overridden in a specific Free Text Invoice.6 FREE TEXT INVOICE DATA MODEL The CustInvoiceTable contains invoice headers. Each free text invoice template must be linked to one or more customers. Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement 7-11 . FIGURE 7. One template can be assigned to multiple customers. This record serves as a batch or "journal" header type record for the free text invoices that are created. The CustRecurrenceInvoice table contains the information about the templates that are assigned to a customer. The CustRecurrenceInvoiceGroup table contains information about each of the free text invoices that are created from the batch. and each customer can have multiple templates assigned. The lines of the templates are stored in the CustInvoiceLineTemplate table. When the recurring free text invoices are posted.Chapter 7: Use and Design of the Accounts Receivable and Accounts Payable Modules Recurring Free Text Invoice Data Model The following figure shows the recurring free text invoice data model. Every time that the Generate recurring invoices job is run. Periodically. When the job runs the CustInvoiceTemplate table records are copied into the CustInvoiceTable as a standard free text invoice.7 RECURRING FREE TEXT INVOICE DATA MODEL Each free text invoice template record is stored in the CustInvoiceTemplate table. the transactions are copied to the CustInvoiceJour and CustInvoiceTrans tables in the same manner that a regular free text invoice is processed. The lines are copied from the CustInvoiceLineTemplate table to the CustInvoiceLine table. you must run the Generate recurring invoices job to create the recurring free text invoices for each customer. a new record is inserted into the RecurrenceInvoice table. • • • • • Ledger transactions by using the LedgerVoucher class. However. Tax transactions by using the CustInvoiceCalcTax class. if an invoice is created in another system. Vendor Invoices Invoices can originate from purchase orders. CustPostInvoiceJob The CustPostInvoiceJob class handles the selection of which records in the CustInvoiceTable to post. This status is changed when the invoice is approved.Development IV in Microsoft Dynamics® AX 2012 CustPostInvoice Classes CustPostInvoice The CustPostInvoice class handles the posting of a single free text invoice specified by one record in the CustInvoiceTable and one or more records in the CustInvoiceLine. or for products and services that are not recorded in a purchase order. the transaction will be recorded as an invoice. The posting includes the generation of the following data. Printing of the invoice report by using the FormLetter framework classes. then it can be recorded manually in Microsoft Dynamics AX. You can also enter vendor invoices that are not associated with purchase orders. A vendor invoice finishes the purchase order. and vendor invoice cycle. You do this with a status that displays that the invoice is awaiting approval. product receipt. 7-12 Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement . It also handles the printing of the invoices if it is specified. The class extends from the RunBase-framework. It is important to register invoices as quickly as possible. Invoice journal and lines (CustInvoiceJour and -Trans). Customer transactions by using the CustVoucher class. When you manually enter a vendor transaction and specify a vendor account and an invoice number. It contains a header and one or more lines for items or services. Invoicing Methods Purchase Order Invoicing A vendor invoice for a purchase order is an invoice that is attached to a purchase order. by using the General journal or an Invoice journal in the Accounts payable module. The company receives invoices from its vendors. To make sure that received invoices are correct and valid. incoming invoices are typically sent through an approval workflow. structure and organization. Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement 7-13 . • • It supports several methods of managing incoming invoices to cater to different company procedures. Usually the accounts are pending accounts where the amounts require the manual approval and reclassification by the person specified in the journal line. In the invoice register journal. The following types of invoices are available. • • • • Vendor account Invoice number Amount Person who approves the invoice The same employee validates and posts the journal to the accounts specified in the posting profile. an employee registers the following information. It has a different invoice journal depending on the need of the company. • • • • Invoice Register Invoice Approval Journal Invoice Pool excluding Posting Invoice Journal Invoice Journal Types Invoice Register The purpose of the invoice register journal is to pre-register invoices when they arrive at the company and transfer them to an invoice pool for approval. depending on the company's size.Chapter 7: Use and Design of the Accounts Receivable and Accounts Payable Modules Invoice Journal The procedure for handling invoices varies from company to company. The invoices are typically one of the following: • • • Registered Approved Paid Consider the following about Microsoft Dynamics AX. and then click Functions. create a new invoice journal. unapproved invoices. Click the Purchase order button to select and approve the purchase orders. The following applies to the invoice pools. Although the invoices are unposted. By using the invoice journal represents another procedure for handling incoming invoices. Select Invoice pool and accept the individual invoices in the pool after you approve them. The lines go directly into the invoice pool.Development IV in Microsoft Dynamics® AX 2012 Invoice Approval Journal After you post the lines of the invoice register. • • • Invoice Journal A third option for processing incoming invoices is to enter them directly into the invoice journal. although it resembles the invoice register with posting. To view the postings in the invoice pool click Accounts Payable. Vendor Invoice Pool Excluding Posting Details Invoice pools excluding posting have the following characteristics: • • The invoice register excluding posting is another kind of journal available in the Accounts payable module. The difference is that you cannot post the lines. the postings display in the invoice pool. the user who is logged on and enters the journal lines approves the invoices. The invoice pool holds invoices originating from a purchase order that originate from an invoice register. • • The invoice pool displays the relevant information about the invoices awaiting approval. the user can post. Use the invoice journal to transfer the invoices for approval and posting. 7-14 Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement . and then click Invoice pool. The invoice journal is designed for users to enter the invoices they receive from vendors without entering them into the approval journal. • • By default. To post the lines. If you activate the invoice pool by accessing the invoice pool exclude posting item in the Accounts Payable menu. they are registered in the system. the invoices shown on the window are registered. click Inquiries. As soon as the user enters the incoming invoices. o o Day in the week Day in the month Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement 7-15 . You must define the following to set up a payment schedule. Similarly. if you do not make payments to your vendors for the items that you purchase. Payments The collection of customer payments and generation of vendor payments is one of the most important tasks in the finance process. • Payment schedules: Use payment schedules to pay invoices in installments. several system setups must be completed. For more information about the journal and posting framework. However. If you do not receive payments from your customers. your vendors could stop sending you items that keep your business running. Before any payments can be made or received. These global payment options are used in the Accounts payable and Accounts receivable modules. you might not have cash to make payments to vendors and keep your business running. Most of the payment setup is shared between the Accounts receivable and Accounts payable modules. For this reason the details of the data model and posting framework are not reviewed here. Payment days can be specified for one of the following. The posting logic is also handled through the LedgerJournalCheckPost framework. o o o • Number of installments Amount of each installment Due date of each installment Payment days: Use payment days to define the payment day used for calculating the due date. refer to the Use and Design of the Ledger Module chapter in this course. Payment Set Up Microsoft Dynamics AX offers extensive functionality for setting up different vendor payment options.Chapter 7: Use and Design of the Accounts Receivable and Accounts Payable Modules Invoice Journal Data Model Invoice journals use the LedgerJournalTable and LedgerJournalTrans tables in the same manner that a general journal is created. and include the following. and there are many similarities in the processing of payments for each module. They control the flow of cash into and out of your business. there are small differences in the validation that occurs for an invoice journal versus a general journal. The due date always is rounded up to the nearest specified date. Development IV in Microsoft Dynamics® AX 2012 • • Terms of payment: Use a term of payment for the calculation of a due date based on the date of the invoice. Methods of payment: Methods of payment are used to define how payments should be summarized and posted. a vendor might add a fee for issuing a promissory note or a company might be charged a vendor bank remittance fee. o o o o Credit Cash in advance Bill of exchange Check and electronic payments • • 7-16 Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement . Payment fees: Use payment fees to specify if any additional charges are added to the vendor invoice. such as the following. Many companies offer several methods to pay due invoices. For example. or give them to customers when they pay their invoices in a specified period. Cash discounts: Use cash discounts to accrue and reward discounts if a company meets the vendor payment terms on time. 8 PAYMENT SET UP DATA MODEL VendPaymFormat contains payment formats that are selected by using the Setup button on the File formats tab page (in the form used for setting up payment methods). VendPaymModeTable contains defined payment methods. These include related file formats that are represented by an ID of the class implementing the format.Chapter 7: Use and Design of the Accounts Receivable and Accounts Payable Modules Payment Set Up Data Model The following figure shows the data model for setting up customer payment information. Each payment method can be related to other information. FIGURE 7. Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement 7-17 . specifying whether the individual payments are processed or canceled. CashDisc: This table is used to store the definition of cash discount terms. customers. a variant of the general journal used in the General ledger module. Payment Journals Payment registration is one of the Customer module’s main tasks. because payments are drawn automatically without the customer’s individual approval. It determines which information should be specified to process the payment. VendPaymModeSpec contains specifications of different record formats in the file that is used for requesting payments (Export format). VendPaymModeFee specifies fees related to the payment method. VendPaymModeFeeInterval specifies fee amounts as a function of the number of days between a remittance and a bill of exchange’s due date. customers. PaymDay and PaymDayLine: These tables are used to store payment days. The following tables are shared between Accounts receivable and Accounts payable. The payment journal. 7-18 Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement .Development IV in Microsoft Dynamics® AX 2012 VendPaymMethodVal contains validation rules for the payment method. Cash discounts can be linked to customers or vendors. Similar tables that begin or end with Cust are used for customer payment set up. Banks typically respond with corresponding electronic information. You can do this manually by entering information into the payment journal. The different kinds of fees that include the setup of ledger postings are set up in the table VendPaymFee. Payment days can be linked to terms of payment. • • • Customer Payments Request Payments Some companies request customer payment by submitting electronic information to a bank. Terms of payment can be linked to customers or vendors. PaymTerm: This table stores each of the terms of payment. or vendors. Payment schedules can be linked to terms of payments. • PaymSched and PaymSchedLine: These tables are used to store the payment schedules. This requires agreement with the customer. is used to register customer payments. or vendors. This automatic approach to customer payment is typically used by companies with high sales volumes to regular customers. such as subscriptions. Chapter 7: Use and Design of the Accounts Receivable and Accounts Payable Modules Some companies receive payment information electronically from banks. Payment Journals Payment registration is usually performed by posting the payment proposals entered in the journal. payments are then typically generated. When the payment proposal is reviewed and approved. the electronic payments received from the bank. is imported to the same kind of journal that is used for manual payment entry. whereas other types of payments require the generation of a file that is transferred electronically to a bank. The payment generation process is different. This requires that customer invoices contain payment information that must be attached to the customer’s bank payment. depending on the method of payment. Some payments have related fees that customers should pay to the bank. when it is received by the company from the bank. Registration of these fees is an integrated part of payment registration. This payment information. Some banks deliver a response to electronic payments as a receipt. Key tasks related to payment registration are to match invoices with their specific payment. The Accounts payable module includes a function for automatic proposals of those invoices that have to be paid. Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement 7-19 . By doing this. For check payments. Delaying journal posting until arrival of the bank receipt is optional. a physical check must be printed and mailed. should settle and pay the appropriate invoices. You do this by entering the payments in a journal with the specifications for those invoices that will be settled. Vendor Payments Payment Proposal Open vendor invoices are reviewed periodically to select specific invoices to pay. and to recognize outstanding invoices to be able to calculate interest charges and submit collection letters. this design uses the usual ledger journal posting. Each payment fee can generate a new record in LedgerJournalTrans that will contain the fee. Fee transactions cannot be viewed or edited in LedgerJournalTrans.9 PAYMENT JOURNAL DATA MODEL LedgerJournalName contains different journal names. A new record is created in this table every time that the user creates a new journal in the form that displays the list of journals. 7-20 Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement . because this is replicated from the information in CustVendPaymJournalFee. Each payment can have related fees. The fees are stored in the CustVendPaymJournalFee table. FIGURE 7. One of the journal types is customer payments. LedgerJournalTrans contains individual journal lines. Each journal name is related to one specific type of journal. based on how they are set up in the General Ledger module.Development IV in Microsoft Dynamics® AX 2012 Payment Journal Data Model The following figure shows the data model for the customer payment journal. To post payment fees. LedgerJournalTable contains records that are headers for individual journals. Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement 7-21 . SpecTrans can contain information other than settlements from the customer payment journal. This root class is associated to the class extending from CustOutPaym/VendOutPaym by overriding the method custVendOutPaymRecordRootClassId. it can be related to an import file format. CustOutPaymRecord and VendOutPaymRecord The files generated can contain different types of records to handle several ways of processing the payment. This typically requires a form of agreement with the customer and the banks involved. The payment proposals are removed from this table at the end of the process. The information in the received file will usually contain a reference to the invoice covered by the payment. CustOutPaym is used to generate a file of payments to be collected from the customers. If multiple record types will be implemented. and the import should make a settlement against the open invoices while generating the payment journal. The individual types of records in the file are implemented by creating a class extending from CustOutPaymRecord/VendOutPaymRecord. VendOutPaym is used to generate a file of payments to be sent to the vendors. CustInPaym Class The CustInPaym class forms a framework for the import of payments from customers. This function will display all classes extending from CustInPaym. the desired transaction settlement can be specified when it is posted. The function involves reading the file and creating a new journal that contains the payments. The file is typically received from the company bank. CustOutPaym and VendOutPaym Classes The CustOutPaym and VendOutPaym classes form a framework for exporting payment information to a file. Each record in SpecTrans defines a settlement between a line in the payment journal and an open transaction part in CustTransOpen. The settlement is stored in the SpecTrans table. they should be implemented as extensions from one root class extending from CustOutPaymRecord/VendOutPaymRecord. and will be reflected in the CustSettlement table when the journal is posted. This file is typically sent to the company bank for processing. The CustVendPaymProposalLine table contains the payments that are proposed by the payment proposal creation and edit processes.Chapter 7: Use and Design of the Accounts Receivable and Accounts Payable Modules When a payment is entered in the journal. When a payment method is set up. and inserted into the LedgerJournalTrans table. The same table is used for other settlement specifications in the Customer and Vendor modules. The data fetched is controlled by a query on the CustTransOpen/VendTransOpen table and the payments generated are saved in a ledger journal (LedgerJournalTrans).” The second group of methods describes payment receivers. when you implement a new specific format. • • • The first group of methods describes payment senders (the company exporting payments).” CustVendCreatePaymJournal Class The CustVendCreatePaymJournal class is used to generate journals with payments or journals handling bills of exchange and promissory notes. The processing is complex because the settlement can include some of the following tasks.Development IV in Microsoft Dynamics® AX 2012 The following classes form a tutorial that displays an implementation of an arbitrary format. CustPaym and VendPaym The details of a payment can be retrieved from many tables in the Vendor module. • • • • Read open transaction editing information in SpecTrans table Calculation and posting of cash discount Reversal of posted tax on cash discount Calculation and posting of conditional tax 7-22 Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement . All information is available by calling corresponding methods. The class searches for open invoices that will be paid by using a cash discount and due date criteria. The VendPaym class contains a payment’s consolidated information. All these methods have the prefix “senders. All these methods have the prefix “paym. All these methods have the prefix “receivers. The methods can be grouped into three categories. • • • • VendOutPaym_Format1 VendOutPaymRecordFormat1 VendOutPaymRecordFormat1Spec1 VendOutPaymRecordFormat1Spec2 You can make a duplication of these classes. The generated journal can be exported to a file by using the Cust-/VendOutPaym classes described earlier. CustVendSettle Class The CustVendSettle class handles the update of a settlement between an invoice and a payment.” The last group of methods describes payments. CustTransOpen custTransOpen.DataAreaId. you can do this by using the following code sample.CurrencyCode). specTransManager. specTransManager = SpecTransManager::construct(custTable). _tableId.insert(_ledgerJournalTrans. specTransManager.tableId. _ledgerJournalTrans. SpecTransManager specTransManager CustTable custTable. _recId. specTransManager. protected void createSpecTrans( LedgerJournalTrans _ledgerJournalTrans.amount(). . custTransOpen = …. TableId _tableId.DataAreaId. _ledgerJournalTrans. Suppose that the amount in the journal transaction must be settled against a specified tableId (Cust-/VendTransOpen) and recId. RecId _recId) { SpecTransManager specTransManager. } If the task is to settle several open transactions without creating a new transaction. custTransOpen.deleteAll().Chapter 7: Use and Design of the Accounts Receivable and Accounts Payable Modules • • • • Calculation and posting of exchange rate adjustment Handling of over/underpayment Update information in CustSettlement/VendSettlement Centralized Customer /Vendor payments The processing is automatically activated when you post customer or vendor transactions in the ledger journal.insert(custTransOpen. specTransManager = SpecTransManager::construct(ledgerJournalTrans). If the journal transaction is created by X++ the open transaction editing can be controlled by creating records in SpecTrans as illustrated earlier. The following method will create the information in SpecTrans. Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement 7-23 . specTransManager. 7-24 Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement .custTrans(). custTransOpen.currencyCode).Development IV in Microsoft Dynamics® AX 2012 custTransOpen. custTransOpen = ….insert(custTransOpen. custTransOpen.custTrans(). CustTrans::settleTransact(custTable).AmountCUR. This resembles the manual transaction editing that can be controlled by the enduser.AmountCUR.recId.recId.DataAreaId.currencyCode). custTransOpen. custTransOpen. custTransOpen. custTransOpen.tableId. Payment ID Date Currency Amount Filler Description 001 Bank Registration (routing) ID Bank account number Payment identification YYYYMMDD ISO 2 decimals. The total size of the file is 200 bytes for each transaction. One record is used for bank transfers and another record layout is used for checks. right adjusted. The file should contain one record for each payment. This lab is designed for self-study. Each record is separated by Carriage Return Line Feed (CR LF). Completing this lab takes approximately 45 minutes.Chapter 7: Use and Design of the Accounts Receivable and Accounts Payable Modules Lab 7. The length of each record is 198 bytes. zero fill Spaces Start 1 4 8 18 38 46 49 64 End 3 7 17 37 45 48 63 198 Length 3 4 10 20 8 3 15 135 Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement 7-25 .1 . no separator. The file can consist of two kinds of records. The record layout for a bank transfer is as follows. Scenario The solution should contain a function for exporting payments to a file. and the records should have a fixed length. Field Type Bank Reg.Export Vendor Payments This lab demonstrates how to use the framework to implement a specific file format related to the exchange of payment information between the company and their bank. Bank Acc. The extension should implement the following methods. All classes extending from VendOutPaym will be available when you set up export formats related to payment methods. • • • • • • • • • interfaceName open close custVendOutPaymRecordRootClassId dialog pack unpack validate ::description (Scope resolution operator determines the method is static) The interfaceName method should return a string (type PaymInterfaceName) that describes the format. zero fill Space Start 1 4 34 64 94 124 144 152 155 170 End 3 33 63 93 123 143 151 154 169 198 Length 3 30 30 30 30 20 8 3 15 29 Technical Issues VendOutPaym The VendOutPaym class defines the framework used to implement individual formats for exporting vendor payments. 7-26 Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement .Development IV in Microsoft Dynamics® AX 2012 The record layout for a check payment is as follows. Field Type Name Address 1 Address 2 Address 3 Reference Date Currency Amount Filler Description 002 Name of receiver Address line 1 Address line 2 Address line 3 Payment reference YYYYMMDD ISO 2 decimals. right adjusted. Use the following code sample to guide you. The method is used in the user interface to represent the payment method. no separator. outFieldDelimiter(''). Use the following code sample to guide you. private int codepage() { #Localcodepage . } The close method is called when all payments are exported to the file. The LocalCodePage macro lists code pages defined. then an additional empty call to file. } public void open() { file = CustVendOutPaym::newFile(filename.write() can be included in this method. } Codepage Codepage is a list of selected character codes in a certain order. Codepages are usually defined to support specific languages or groups of languages that share common writing systems. return #cp_1252. this. file.filename)). If the last record should be followed by a record delimiter.Chapter 7: Use and Design of the Accounts Receivable and Accounts Payable Modules The open method should initialize data member files that are defined in the super class. classId custVendOutPaymRecordRootClassId() { return classNum(VendOutPaymRecord_AXA). The custVendOutPaymRecordRootClassId method returns the ID of the root class implementing the different record types. The method can also send information to the created file’s infolog. codepage 1252 provides character codes required in the Latin writing system. public PaymInterfaceName interfaceName() { return "AXA export". Use the following code sample to guide you. } file. For example. } Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement 7-27 .codepage()).status() != IO_Status::OK) { throw error(strFmt("@SYS73665".outRecordDelimiter('\r\n'). if (!file || file. This class is described in the following text. this. If the only field is the name of the file. protected Object dialog(DialogRunbase _dialog = null. true). ::description is a static method that returns the same information as the object method interfaceName. boolean _forceOnClient = false) { DialogRunbase dialog. Each record type is implemented as an extension of the class that is specified as the root in the custVendOutPaymRecordRootClassId method described earlier.dialogAddPrintDocument(PaymDocumentType::ControlReport . . then the method should be such as this. dialog. The validate method should. The pack and unpack methods should be implemented by using the usual contents. dialog = super(_dialog. You can use “abstract” classes in the hierarchy with the purpose of sharing code between some record formats. Each payment format extending from VendOutPaym should be associated with a class extending from VendOutPaymRecord. return dialog. this. 7-28 Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement . The rule is that you should only implement the interfaceName method on classes that implement an actual record type. The CurrentVersion and CurrentList macros are defined in the super class. The following is a sample of this method. } VendOutPaymRecord The VendOutPaymRecord class defines the framework for implementing individual record types in an export file. contain validation of the specified file name.interfaceName(). _forceOnClient). The method. as a minimum. client server public static ClassDescription description() { return new VendOutPaym_AXA().dialogAddFileName(dialog). } Notice that the method also adds functionality to print a control report.Development IV in Microsoft Dynamics® AX 2012 The dialog method is overridden to specify those fields to include in the dialog box. txt file. classDeclaration (declare variables as required for the class) b. You can do this by calling file. a. Use the code samples provided in the sample file to guide you. dialog Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement 7-29 . Both methods checkValues and output methods are called automatically for each record to export. Create a new class called VendOutPaym_AXA that extends the VendOutPaym class. You can copy and paste these code samples into the correct methods. Implement the following methods as described in the "Technical Issue" section of this lab.write() or file.Chapter 7: Use and Design of the Accounts Receivable and Accounts Payable Modules Each record type should implement the following methods.writeExp(). The output method writes the record type to the file. Among other things. If the validation fails. interfaceName c. An example of the method follows. TIP: The code samples for this lab can be found in the AX2012_ENUS_DEVIV_07_01_LAB_CODE. The method is used in the user interface to represent payment specification. open d. public PaymInterfaceName interfaceName() { return "Bank transfer". custVendOutPaymRecordRootClassId f. This is achieved by using the usual “return checkFailed()” pattern. Implementation Perform the following steps to export the vendor payments to a file of a fixed length as it is specified in the “Scenario” section of this lab. 1. then the method returns false and errors will be reported to the infolog. close e. All information about the payment will be available through the data member custVendPaym. it verifies that mandatory information is present. • • • interfaceName checkValues output The interfaceName method will return a string (type PaymInterfaceName) that describes the type of record. } The checkValues method implements record type validation. based on the VendPaym class described in the following text. Export the payments. interfaceName b. Select the file format in the Export format field on the File formats tab page and save the record. Create two new classes that extend the VendOutPaymRecord_AXA class. Close the form. 3. Create a new payment method by using the path Accounts payable > Setup > Payment > Methods of payment. and that credit amounts are not allowed. Create a new payment journal. and the second class is for bank transfers. Create a new method of payment that uses the new export format. TIP: You can import the AX2012_ENUS_DEVIV_07_01_LAB_SOL. output (This method should build the fixed length string as defined in the "Scenario" section of this lab. d. b. Close the forms. 7-30 Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement . j.Development IV in Microsoft Dynamics® AX 2012 g. Remember to specify the Export format for each record type. This class should override the checkValues method and contain logic to validate that the payment specification is entered. Locate the new AXA export format in the list of available formats and move it to the left (Selected). Create a new class called VendOutPaymRecord_AXA that extends the VendOutPaymRecord class. Click the Payment specification button and create two records related to the two record formats (Bank transfer and Check) implemented.xpo file to verify and compare your solution. pack unpack validate description 2. 3. complete the following steps. Set the payment account (USA OPER). 1. Test To test the implementation. The first class is for checks. h. a. c. Specify the account type (Bank) b. Each class should implement the following methods. Create two payment specifications and relate them to the corresponding classes. 4. 2. Click the Setup button on the File formats FastTab. complete the following steps. i. a. To test the implementation. a. Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement 7-31 . The calculated interest can be printed on an interest note that is submitted to the customer. then transaction open-editing must be up to date. Open the journal lines by clicking Lines. Manually create another payment for vendor “8500” with a debit amount of 474. An alternative to submitting collection letters is the calculation of interest on unpaid invoices. Account statement printouts are followed by a reconciliation to make sure that they are correct. 7. reminders could be in order. 5. Select the other record format compared to the line earlier. Specify the payment method and record the format in the Method of payments and Payment specification fields. Submission of a collection letter frequently includes a related fee to be paid by the customer. Specify the bank account “USA OPER”. because you added validation to check for credit amounts.50 using the United States dollar (USD). This is usually done periodically. Create a new payment journal by using the path Accounts payable > Journals > Payments > Payment journal. set the status of the lines back to None by selecting Payment status and clicking the None button. Click the Dialog button and specify the name of the file to be generated. TIP: If you want to repeat the test.86 USD. and typically involves the progression through predefined steps. 6. This error is expected. Customers usually receive periodic account statements. Collections and Interest The account statement provides credit to customers on invoices. When customer invoices are overdue. Specify the payment method and record format in the Method of payments and Payment specification fields. “8500” with a debit amount of 766. NOTE: You will receive an error about credit amounts when you generate the file.Chapter 7: Use and Design of the Accounts Receivable and Accounts Payable Modules 4. To correct the error you can change the credit amount in the journal line to a debit amount and then generate payments again. The interest note can also have a related fee to be paid by the customer. Submitting collection letters is a supported process that includes the status registration of individual open invoices. If account statements are to specify those invoices that are outstanding. Create a payment for vendor. Click the Functions > Generate payment button and select the implemented Export format in the dialog box. Each calculated interest note has a header in the CustInterestJour table. The table is also used to specify a minimum interest that should be calculated. The CustInterestFee table is used to specify a fee that will be included in the interest calculation.Development IV in Microsoft Dynamics® AX 2012 Interest Data Model The following figure shows the data model covering setup and the calculation of interest. The CustInterestRange table contains information about the interest that is applicable by the ranges of an overdue balance or the time on the customer transactions and is specific to a customer currency. The interest code used for each customer is determined by the posting profile that can be accessed by the path Accounts receivable > Setup > Posting profiles > Setup. The reason for this separate table is the need to specify a specific fee for each currency. 7-32 Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement .10 INTEREST DATA MODEL The CustInterest table defines the different interest codes that have the related specification of the interest calculation that includes the percentages and accounts that are used for posting. The calculation is specified in CustInterestTrans that contains a record for each original transaction that has contributed to the interest calculation. FIGURE 7. Chapter 7: Use and Design of the Accounts Receivable and Accounts Payable Modules Even though the relation between CustTrans and CustInterestTrans is not specified on an extended data type or as a relation on the CustInterestTrans table. This includes the creation of ledger and customer transactions. Bills of Exchange A bill of exchange. However. it resembles a check written from the buyer to the seller. is an instrument used to administer agreements to make payments. The CustInterestPost class handles the posting of an interest note. The class has two important methods. CustInterestCreate and CustInterestPost Classes The CustInterestCreate class handles how to create an interest note. These different kinds of journals are collected in the submenu Journals > Bills of exchange. When the interest is posted one or more new interest transactions are created in the CustTrans table. The CustInterestVersion and CustInterestVersionDetail tables contain the versions of interest codes that are charged and paid. The document is created by the selling company. Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement 7-33 . there is a conceptual relation between the two tables. • • • • • Draw Protest Redraw Remittance Settlement Separate journals for each step handle registration. The printing and posting of the interest note updates information in the CustInterestJour. • • checkOpenTrans checkSettlement They evaluate whether an open or closed transaction should be included in the interest calculation. The CustInterestWriteOffUnPostedJournal journal is used when write-off transactions are created in the Collections form. Administration of bills of exchange can be divided into the following steps. also known as a draft. Remittance One of the purposes of bills of exchange is for sellers to use them to obtain bank credit. Protest A bill of exchange is created by the selling company. The customer transaction that originated the protested bill of exchange is settled and replaced by a new. open transaction representing the redrawn bill of exchange. the customer transaction that originated the invoice. Invoice transactions are selected when you enter information into the journal.Development IV in Microsoft Dynamics® AX 2012 Draw This step creates the document. open transaction representing the remitted bill of exchange. When the journal is posted. is settled and replaced by a new. the bill of exchange’s status is changed from Drawn to Protested. Redraw A protested bill of exchange can be re-drawn. the bill of exchange’s status is changed from Drawn/Redrawn to Remitted. the transaction representing the drawn bill of exchange is selected when you enter the information into the journal. The customer transaction that originated the drawn bill of exchange is settled and replaced by a new. To do this. When the journal is posted. the transaction representing the protested bill of exchange is selected when you enter the information into the journal. When the journal is posted. For a protest. open transaction represented by the bill of exchange. open transaction represented by the protested bill of exchange. When the journal is posted. The transaction representing the drawn or redrawn bill of exchange is selected when you enter the information into the journal. 7-34 Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement . the bill of exchange’s status is changed from Protested to Redrawn. The customer transaction that originated the drawn or redrawn bill of exchange is settled and replaced by a new. A buyer can protest the bill of exchange if he or she does not accept it. The transaction representing the honored promissory note is selected when you enter the information into the journal. 3. open transaction represented by the promissory note. Redraw A settled promissory note can be re-drawn. 1. When the journal is posted. When the journal is posted. Draw This step creates the document. 4. the status of the bill of exchange is changed from Remitted to Honored. Promissory Notes A promissory note is an instrument used to administer agreements to make payments. Invoice transactions are selected when you enter information into the journal. This step represents the customer’s final payment of the invoice that is the basis for the bill of exchange. Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement 7-35 . The transaction representing the remitted bill of exchange is selected when you enter the information into the journal. When the journal is posted. the promissory note status is changed from Honored to Redrawn. 2.Chapter 7: Use and Design of the Accounts Receivable and Accounts Payable Modules Settlement Final settlement of a bill of exchange ends the payment workflow. The different kinds of journals are collected in the submenu Journals > Promissory notes. the customer transaction that originated the invoice is settled and replaced by a new. open transaction representing the honored bill of exchange. Administration of promissory notes can be divided into the following steps. The customer transaction that originated the remitted bill of exchange is settled and replaced by a new. The document is created by the buying company and states that the buyer has agreed to make a payment in the future. Draw Redraw Remittance Settlement Each of the steps are handled and registered by using a journal dedicated to each step. Settlement Final settlement of the promissory note ends the payment workflow. Remittance A drawn or redrawn promissory note can be remitted. The transaction representing the drawn or redrawn promissory note is selected when you enter the information into the journal. When the journal is posted. When the journal is posted. open transaction representing the redrawn promissory note. the promissory note status is changed from Remitted to Honored.Development IV in Microsoft Dynamics® AX 2012 The vendor transaction that originated the honored promissory note is settled and replaced by a new. The transaction representing the remitted promissory note is selected when you enter the information into the journal. open transaction representing the honored promissory note. The vendor transaction that originated the drawn or redrawn promissory note is settled and replaced by a new. open transaction representing the remitted promissory note. This step represents the vendor’s final payment of the invoice that is the basis for the promissory note. 7-36 Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement . the promissory note status is changed from Drawn/Redrawn to Remitted. The vendor transaction that originated the remitted promissory note is settled and replaced by a new. Implementation To find and settle customer and vendor open invoices of the same currency. Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement 7-37 . Only invoices in the same currency can be settled against one another. Calculate the settlement between the two transactions as the minimum amount of the two. this will be created in both tables.Transfer Balances This lab demonstrates how to update open transactions editing information directly from X++. Find an open vendor transaction with the same currency and calculate the remaining amount. 3. c. 2. Implement the method run. If both the customer and vendor have open invoices. but when buying from and selling to the same business relation. follow these steps. Find an open customer transaction and calculate the remaining amount. Import the project AX2012_ENUS_DEVIV_07_02_LAB. the invoices from the purchase and sales order could be set off one another. follow these steps. Do not be concerned about the dialog and so on. Create two lines in a ledger journal and update the related settlement specifications. A new function should find customers and vendors related to one another (the same business relation). and the customers. are recorded in the accounts payable table.txt file. This is already implemented so that you can focus on the Accounts receivable and Accounts payable modules. Estimated time to complete: 45 minutes Scenario The business relations. TIP: The code samples for this lab can be found in the AX2012_ENUS_DEVIV_07_02_LAB_CODE. If the company is buying from and selling to the same business relation.xpo. The project contains a framework for the class AXACustVendTransferBalance. 1. b. a. An invoice is usually settled by a payment. For each customer who has a related vendor. d. You can copy and paste these code samples into the correct methods. used as vendors.Chapter 7: Use and Design of the Accounts Receivable and Accounts Payable Modules Lab 7. they should be set off one another.2 . to find and create the settlements. and select the number sequence that you created in step 2 for the voucher series. 4. and select the number sequence that you created in step 2. click Functions > Settlement on each line. 7-38 Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement . 2. This message can be ignored. The journal type should be daily. and then click No to not remove the settlements. Run the class by right-clicking selecting Open. but is should be marked as continuous. TIP: If you want to repeat the test. by using the path Accounts receivable > Customers > All customers in the Vendor account field on the Miscellaneous details FastTab in the Customer details form. Create a number sequence by using the path Organization administration > Common > Number sequences > Number sequences. in the Voucher series field. you should delete the journal generated. open General ledger > Journals > General journal. Test To test the implementation. This number sequence should not be marked as manual.Development IV in Microsoft Dynamics® AX 2012 TIP: You can import the AX2012_ENUS_DEVIV_07_02_LAB_SOL. 3. 1. 5. select journal name that you created in step 3. in the Name field.xpo file to verify and compare your solution. NOTE: You may receive warnings that the number sequence you created does not allow reservations. To view the journal. On the dialog box. To view the settlements that were created. Click OK. and then click Lines. Create a reference between customer 3001 and vendor 3004. follow these steps. Select the journal number that was created in the infolog message. Create a journal name by using the path General ledger > Setup > Journals > Journal name. The Accounts receivable module has functionality for free text invoices. The Accounts payable module is used to track vendor invoices and outgoing expenditures. you can use payment journals in both modules to propose. generate. interest notes. • • • • Invoice Register Invoice Approval Journal Invoice Pool excluding Posting Invoice Journal The collection of customer payments and the generation of vendor payments is one of the most important tasks in the finance process. The Accounts payable module uses invoice journals to process invoices that are not related to inventory. and post payments. Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement 7-39 . create. The Accounts payable module offers functionality to create and process promissory notes. They control the flow of cash into and out of your business.Chapter 7: Use and Design of the Accounts Receivable and Accounts Payable Modules Summary The Accounts receivable module is used to track customer invoices and incoming payments. The following types of invoice journals are available. and bill of exchanges. The Accounts receivable module offers functionality for collection letters. Free text invoices are useful because they are not related to inventory items and provide a simple invoice mechanism. After the payment set up is complete. Development IV in Microsoft Dynamics® AX 2012 Test Your Knowledge Test your knowledge with the following questions. b. f. _____ 6. Used to add more charges to a transaction. _____ 5. _____ 2. c. Used to pay invoices in installments. _____ 4. Categorize the following items. a. Used to define how payments are summarized and posted. _____ 3. Used to calculate due dates of transactions. Used to make a payment on a specific day. Which of the following transactions are supported in the Accounts receivable module for customers? (Select all that apply) ( ) Free text invoice ( ) Payment journals ( ) Promissory notes ( ) Bill of exchanges 7-40 Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement . 1. d. Which tables are used for vendor invoice journals? ( ) CustInvoiceTable and CustInvoiceTrans ( ) VendInvoiceTable and VendInvoiceTrans ( ) LedgerJournalTable and LedgerJournalTrans ( ) VendJournaTable and VendJournalTrans 4. _____ 1. Payment Schedules Cash Discount Terms of Payment Payment Fees Method of Payment Payment Days 2. What is the primary difference between free text invoices and sales order invoices? 3. e. Used to accrue and reward discounts when payment terms are met. Which of the following frameworks and classes are used by the free text invoice generation process? (Select all that apply) ( ) CustVoucher ( ) LedgerVoucher ( ) CustInvoiceCalcTax ( ) FormLetter framework Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement 7-41 .Chapter 7: Use and Design of the Accounts Receivable and Accounts Payable Modules 5. 3. 2.Development IV in Microsoft Dynamics® AX 2012 Quick Interaction: Lessons Learned Take a moment and write down three key points you have learned from this chapter 1. 7-42 Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement . Used to add more charges to a transaction. c 3. Which tables are used for vendor invoice journals? ( ) CustInvoiceTable and CustInvoiceTrans ( ) VendInvoiceTable and VendInvoiceTrans (•) LedgerJournalTable and LedgerJournalTrans ( ) VendJournaTable and VendJournalTrans 4. Used to calculate due dates of transactions. e 5. f 1. b. Which of the following transactions are supported in the Accounts receivable module for customers? (Select all that apply) (√) Free text invoice (√) Payment journals ( ) Promissory notes (√) Bill of exchanges 5. e. Used to define how payments are summarized and posted. Used to pay invoices in installments. Categorize the following items. 3. a 2. b 6. What is the primary difference between free text invoices and sales order invoices? MODEL ANSWER: Free text invoices cannot be related to inventory items.Chapter 7: Use and Design of the Accounts Receivable and Accounts Payable Modules Solutions Test Your Knowledge 1. Which of the following frameworks and classes are used by the free text invoice generation process? (Select all that apply) (√) CustVoucher (√) LedgerVoucher (√) CustInvoiceCalcTax (√) FormLetter framework Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement 7-43 . Used to make a payment on a specific day. Used to accrue and reward discounts when payment terms are met. d 4. a. and sales order invoices can be related to inventory items. Payment Schedules Cash Discount Terms of Payment Payment Fees Method of Payment Payment Days 2. d. c. f. Development IV in Microsoft Dynamics® AX 2012 7-44 Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement .