General journals with template

This article describes how to use general journal templates in Dynamics AX 2012. There are several options avaiable in Dynamics AX to help you to record journal lines. You can choose the one that is the more suitable to your needs.

The options are: Voucher template, Allocation rules, Periodic journal and Accrual Schema.

JournalTemplateGL011

Continue reading

Setup Accrual schemes

This article describes how to setup and use accrual schemes in Dynamics AX 2012. Ledger accruals redistribute the costs or revenues of a journal line so that the costs and revenues are recognized in the appropriate periods. In the first step, you enter the invoice in a temporary account (or a prepaid account). And when you use the accrual scheme functionality, the temporary account is reversed to be allocated in the charge or product account in each appropriate periods. To illustrate this functionality, I will use two examples, one with a vendor invoice and one with a customer invoice:

  • Example 1: I receive a rent invoice from a vendor for the next quarter. Total amount of the invoice is $300. If I enter directly the amount, all the charge are going to be allocated for the same period. But I want to allocate each third in the good period.
  • Example 2: I send a rent invoice to a customer for the next quarter. Total amount of the invoice is $300. If I enter directly the amount, all the product is going to be allocated for the same period. But I want to allocate each third in the good period.

1/ Setup accrual schemes

Access: GL > Setup > Posting > Accrual schemes

  • Click New to create an accrual scheme.
  • Enter an accrual identification and a description of the scheme

AccrualSchemesGL001

Continue reading