Settle customer transactions with payment

This articles describes how to settle manually a customer transaction with a payment in Dynamics AX 2012

1/ Customer settlement

Access: Accounts receivable > Common > Customers > All customers

If a payment was entered and posted, but not yet settled with an invoice or other transaction, you can settle the payment and invoice by opening the Settle open transactions form from the Customers forms.

  • Select the customer/vendor whose open transactions you want to settle.
  • Go to the Collect tab and click “Settle open transactions”

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  • Select the “mark check box” on the open transactions to be settled.
  • A red icon indicates that a transaction is already marked for settlement.

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  • Click on Update

Remark:

  • Balance before settlement

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  • Balance after settlement

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2/ Settle transaction with cash discount

For example: Customer B receives an invoice on J (amount = 1350). If he pays under 15 days, he can have 2% of cash discount. On J+1, the company receives a payment (amount = 1323). The accountant records this payment but he forgets to settle it with the original invoice.

  • Customer transactions

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  • Select the customer/vendor whose open transactions you want to settle.
  • Go to the Collect tab and click “Settle open transactions”
  • In the Settlement posting date field, select the date to use for the settlement: latest date, today’s date or selected date

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  • Select the payment transaction and click “Mark payment”. This action mark the selected transaction as the primary payment transaction.

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  • Select the invoice.
  • The amount of the cash discount is calculated by the system.

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  • Click on Update: transactions are settled
  • You can check in the customer transactions, the cash discount is created.

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2 thoughts on “Settle customer transactions with payment

  1. What happens with the currency in which the main accounting is done. The settlement of an invoice of GBP100.– and a payment of GBP100.– , not booked on the same date have a different USD equivelant. What happenst with this exchange difference in my P/L accounts

    Reply

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