Bills of exchange: transaction with acceptance

This article describes how to use the BOE journals in Dynamics AX 2012, for the flow with a bill with acceptance :

  • Step 1: Create the BOE with the “Draw BOE journals” and sent the file.
  • Step 2: Customer approve the BOE.
  • Step 3: Remit the BOE to the bank with the “Remittance journal”.
  • Step 4: Settle the payment with the “Settle bill of exchange journal”.

Bill of exchange schema:

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Before using the BOE journals, you need to do several setup. Go to the article “Setup bills of exchange” to have details about the prerequisites.

1/ Step 1: Create a bill of exchange

Access: AR > Journals > Bill of exchange > Draw bill of exchange journal

  • Create a new journal.
  • Go to the line form.
  • Select the customer account.
  • Click on “Function > Settlement”

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  • Select invoice to pay with the BOE

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  • When you close the “Settle open transaction” form, the journal is automatically filled with the invoice informations.

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  • Generate the file to send to the customer : click on “Function > Generate payment”

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  • Select options in the Generate payment form: methods of payment, bank.
  • And select “show format dialog” and click “OK”
  • The Format dialog form is open, you can select a number of blank BOE if necessary.
  • The number in the field “From” is the first number to be used from the created BOE in the Bank modules.

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  • The file is created and the status of the payment is change to “sent”

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  • Post the journal.

2/ Step 2: Bill of exchange accepted

Access: AR > Journals > Bill of exchange > Draw bill of exchange journal

  • Open the journal with the BOE.
  • Go to the lines form.
  • Click on “Payment status > Approved”.
  • Enter the date of the bill approval.

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  • Go to the “Bill of exchange journal” form (AR > Inquiries > Bill of exchange).
  • You can check the status of the BOE, when the BOE is approved, the date of approval is filled.

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3/ Step 3: Bank remittance

Access: AR > Journal > BOE > Remittance journal

This step is to be done when the bill of exchange is presented to the bank.

  • Create a new journal.
  • Go to the tab “BOE”  and select the bank account.
  • Select the option of the remittance : remit for collection or remit for discount.

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  • Go to the lines
  • Enter the customer account and go to “functions > Settlement”.

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  • Click on Function > Generate remittance

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  • If you select “Show format dialog”, the form is open.

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  • The remittance is generated (export format depends of the method of payment setup)
  • The Payment statuts changes to “sent”.
  • If you have setup fees for this methods of payment, the fees are created.
  • Post the journal

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  • You can check the status of the BOE in the Bill of exchange journal form

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4/ Step 4: Bill of exchange settlement

Access: AR > Journals > Bill of exchange > Settle bill of exchange journal

This step is to be done when the bank send the confirmation of the payment.

  • Create a new journal and go to the lines form.
  • Use the proposal functionality : select all BOE with status remitted.
  • Post the journal.

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  • You can check the status of the BOE in the Bill of exchange journal form: the BOE is honored.

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