How To Set Up A General Ledger In Korea

Transcription

1 MODULE 6: RECEIVABLES AND PAYABLES MANAGEMENT: PAYMENT DISCOUNT AND PAYMENT TOLERANCE Mdule Overview Granting payment discunts prvides an incentive fr custmers t quickly pay their utstanding amunts in full. Micrsft Dynamics NAV 2013 uses payment terms t keep track f payment discunts that are given t custmers r received frm vendrs. Additinally, the payments are prcessed crrectly by using the payment discunt amunt. Setting up a payment discunt includes selecting between calculating a payment discunt n amunts that bth include r exclude the value-added tax (VAT). Differences can ccur when the payment discunt date passes, r when the payment amunt r payment discunt amunt des nt match the charged amunt. Micrsft Dynamics NAV 2013 uses the payment discunt tlerance and the payment tlerance t prcess payment differences in a structured and autmated manner. This setup applies t bth the receivables and the payables applicatin area. Even withut setting up a payment discunt tlerance and a payment tlerance, yu can prcess payment differences n a manual and individual case basis. Objectives The bjectives are: Set up Micrsft Dynamics NAV 2013 t use payment discunts. Prcess transactins fr varius situatins that benefit frm payment discunts. Set up Micrsft Dynamics NAV 2013 t use a payment discunt tlerance. Prcess transactins fr varius situatins that benefit frm using a payment discunt tlerance. Set up Micrsft Dynamics NAV 2013 t use a payment tlerance. Prcess transactins fr varius situatins that benefit frm using a payment tlerance. Review hw a payment discunt tlerance and a payment tlerance are reflected in the detailed custmer and vendr ledger entries. 6-1

2 Finance Essentials in Micrsft Dynamics NAV 2013 Set Up Payment Discunts Granting payment discunts prvides an incentive fr custmers t quickly pay their utstanding amunts in full. The different methds that are available t set up payment discunts fr an invice include the fllwing: If the payment discunt is knwn at the time the invice rder is entered, d ne f the fllwing: Select an existing payment term. Enter a new payment term fr the invice r rder. If the payment discunt is nt determined until the invice is paid: The custmer can reduce the payment withut negtiating a payment discunt. If the discunt is acceptable, adjust the payment discunt fr the invice after it is psted, but befre the payment is psted and applied. Payment discunt amunts can als be calculated n credit mems. Then, users can autmatically reduce the payment discunt given n invices that the credit mem is applied t. A payment discunt can be calculated n amunts that bth exclude and include VAT. The setup is determined by the fields selected n the General Ledger Setup page. Pmt. Disc. Excl. VAT Excluding VAT Adjust fr Payment Discunt Including VAT Nte: On the General Ledger Setup page, the Pmt. Disc. Excl. VAT and the Adjust fr Payment Disc check bxes are mutually exclusive. This means that nly ne can cntain a check mark. Hwever, bth can be empty at the same time. The general ledger accunts fr payment discunts must be set up differently, depending n whether payment discunts are calculated n amunts including r excluding VAT: Custmer Psting Grups and Vendr Psting Grups Excluding VAT General Psting Setup Including VAT 6-2

3 Mdule 6: Receivables and Payables Management: Payment Discunt and Payment Tlerance Nte: Payment discunt accunts cannt be entered n the Custmer r Vendr Psting Grups page if the Adjust fr Payment Disc. check bx is selected n the General Ledger Setup page. Similarly, payment discunt accunts cannt be entered n the General Psting Setup page if the Pmt. Disc. Excl. VAT check bx is selected. Set Up Payment Discunts Calculated n Amunts Excluding VAT General Ledger Setup Yu must first set up the Micrsft Dynamics NAV 2013 database t calculate payment discunt n amunts excluding VAT. T access the General Ledger Setup page, fllw these steps. 1. In the Search bx, enter General Ledger Setup, and then click the related link. 2. Expand the General FastTab. FIGURE 6.1: GENERAL LEDGER SETUP GENERAL FASTTAB 6-3

4 Finance Essentials in Micrsft Dynamics NAV Pmt. Disc. Excl. VAT Select the check bx if yu want t calculate payment discunts n amunts excluding VAT. Therefre, there will be n VAT calculated n the payment discunt amunt, and the VAT will be calculated n a lwered base amunt. A VAT difference will then ccur between the calculated VAT and the VAT under typical circumstances. When the check bx is selected, the payment discunt is calculated n: The Amunt field in sales and purchase dcuments. The Sales/Purch. (LCY) field in jurnals. When the check bx is cleared, the payment discunt is calculated n: The Amunt Incl. VAT field in sales and purchase dcuments. The Amunt field in jurnals. Nte: If jurnals are used t enter sales r purchase transactins and the Pmt. Disc. Excl. VAT check bx is selected an amunt must be entered in the Sales/Purch. (LCY) field in the jurnal. If an amunt is nt entered, the payment discunt is zer. 4. VAT Tlerance % - When the Pmt. Disc. Excl. VAT check bx is selected, yu must als determine the maximum VAT difference that is allwed t make sure that the VAT suggested n the invice r the rder is the VAT calculated n the lwered base amunt. Nte: Make sure that the percentage filled in in the VAT Tlerance % field is the largest payment discunt percentage. Fr example, if yu grant a payment discunt f tw percent t a custmer, and yu nly allw fr a ne percent VAT difference, the VAT suggested n the invice r the rder will nly differ ne percent frm the regular VAT. If the invice r the rder is fr a ttal amunt f lcal currencies (LCY), the payment discunt is 2.00 LCY, and the suggested VAT is LCY, instead f the expected LCY. Nte: The VAT Tlerance % field is nt available n the General Ledger Setup page. Yu must add it thrugh the Object Designer. 5. Click OK t clse the General Ledger Setup page. 6-4

5 Mdule 6: Receivables and Payables Management: Payment Discunt and Payment Tlerance Set Up Custmer and Vendr Psting Grups T set up the payment discunt accunts fr custmer psting grups, fllw these steps. 1. In the Search bx, enter Custmer Psting Grups, and then click the related link. 2. Fr each custmer psting grup that uses payment discunts, d the fllwing: In the Payment Disc. Debit Acc. field, click the drp-dwn list and select the payment discunt accunt. The general ledger accunt is used t pst granted payment discunt amunts when yu are psting sales payments fr the selected custmer psting grup. In the Payment Disc. Credit Acc. field, click the drp-dwn list and select the payment discunt accunt. The general ledger accunt is used t pst reductins in payment discunt amunts when yu are psting sales payments fr the selected custmer psting grups. FIGURE 6.2: CUSTOMER POSTING GROUPS WINDOW T set up the payment discunt accunts fr vendr psting grups, fllw these steps. 1. In the Search bx, enter Vendr Psting Grups, and then click the related link. 2. Fr each custmer psting grup that uses the payment discunts, d the fllwing: In the Payment Disc. Debit Acc. field, click the drp-dwn list and select the payment discunt accunt. The general ledger accunt is used t pst reductins in payment discunt amunts 6-5

6 Finance Essentials in Micrsft Dynamics NAV 2013 when yu are psting purchase payments fr the selected vendr psting grup. In the Payment Disc. Credit Acc. field, click the drp-dwn list and select the payment discunt accunt. The general ledger accunt is used t pst granted payment discunt amunts when yu are psting purchase payments fr the selected vendr psting grups. FIGURE 6.3: VENDOR POSTING GROUPS WINDOW Set Up Payment Discunts Calculated n Amunts Including VAT General Ledger Setup If payment discunts are calculated n amunts including VAT, then VAT recalculatins might have t be made if the payment discunt is taken. T set up the prgram t recalculate tax amunts when payment discunts are psted, fllw these steps. 1. In the Search bx, enter General Ledger Setup, and then click the related link. 2. Expand the General FastTab. 3. Select the Adjust fr Payment Disc. field t s that the feature becmes available. 6-6

7 Mdule 6: Receivables and Payables Management: Payment Discunt and Payment Tlerance FIGURE 6.4: GENERAL LEDGER SETUP WINDOW GENERAL FASTTAB 4. Click Ok t clse the General Ledger Setup page. Set Up VAT Psting Grups 1. In the Search bx, enter VAT Psting Setup, and then click the related link. 2. Use the Chse Clumns feature t add the Adjust fr Payment Discunt field. 3. Fr each relevant VAT Psting Grup cmbinatin, select the Adjust fr Payment Discunt field. 6-7

8 Finance Essentials in Micrsft Dynamics NAV 2013 FIGURE 6.5: VAT POSTING SETUP WINDOW 4. Clse the VAT Psting Setup windw. Set Up General Psting Grups T set up the payment discunt accunts fr general psting grups, fllw these steps. 1. In the Search bx, enter General Psting Setup, and then click the related link. 2. Fr each general psting grup cmbinatin that uses a payment discunt, d the fllwing: In the Sales Pmt. Disc. Debit Acc. field, click the drp-dwn list and select the payment discunt accunt. This is the general ledger accunt that is used t pst granted payment discunt amunts when yu are psting payments fr sales with the selected cmbinatin f general business and prduct psting grups. In the Sales Pmt. Disc. Credit Acc. field, click the drp-dwn list and select the payment discunt accunt. This is the general ledger accunt that is used t pst reductins in payment discunt amunts when yu are psting payments fr sales with the selected cmbinatin f general business and prduct psting grups. 6-8

9 Mdule 6: Receivables and Payables Management: Payment Discunt and Payment Tlerance In the Purch. Pmt. Disc. Debit Acc. field, click the drp-dwn list and select the payment discunt accunt. This is the general ledger accunt that is used t pst reductins in payment discunt amunts when yu are psting payments fr purchases with the selected cmbinatin f general business and prduct psting grups. In the Purch. Pmt. Disc. Credit Acc. field, click the drp-dwn list and select the payment discunt accunt. This is the general ledger accunt that is used t pst payment discunt amunts given by vendrs when yu are psting payments fr purchases with the selected cmbinatin f general business and prduct psting grups. FIGURE 6.6: GENERAL POSTING SETUP WINDOW 3. Click Clse t clse the General Psting Setup page. 6-9

10 Finance Essentials in Micrsft Dynamics NAV 2013 Set Up Payment Terms with Payment Discunt Payment discunts granted t custmers r ffered by vendrs are determined by the payment terms. After the payment terms are created, the Payment Terms Cde is assigned t the relevant custmers and vendrs and, r entered in the header f the sales r purchase dcuments. T access the Payment Terms page, fllw these steps. 1. In the Search bx, enter Payment Terms, and then click the related link. FIGURE 6.7: PAYMENT TERMS WINDOW 2. In the Discunt Date Calculatin field, fill in a date frmula by which the payment must be received t subtract the payment discunt amunt. Meaning, t calculate the due date f the payment discunt. 3. In the Discunt % field, fill in the discunt percentage that is granted when the payment is received within the perid specified by the discunt date. 4. Select the Calc. Pmt. Disc. n Cr. Mems check bx, if yu als want t calculate the payment discunt n credit mems with this payment term. The nly payment term that is currently set up with discunt capabilities is 1M(8D). This payment term is set up as fllws: Payments are due within ne mnth f the Dcument Date specified n the psted invice. 6-10

11 Mdule 6: Receivables and Payables Management: Payment Discunt and Payment Tlerance If full payment is received within eight days f the Dcument Date specified n the psted invice, a tw percent discunt is available. A payment discunt cannt be calculated n credit mems with this payment term because the Calc. Pmt. Disc. n Cr. Mems check bx is cleared. Assign Payment Terms with a Payment Discunt t Custmers and Vendrs When payment discunts are granted fr specific custmers r are ffered by specified vendrs, the apprpriate Payment Terms Cde is assigned t the custmer r vendr. Then, when an rder r invice is created the fllwing actins ccur: The Payment Terms Cde is transferred t the header, tgether with the Payment Discunt % and Pmt. Discunt Date. The applicable discunt terms are autmatically applied t the rder during psting. T assign a Payment Terms Cde t a custmer, fllw these steps. 1. In the Search bx, enter Custmers, and then click the related link. 2. Lcate and select the custmer t assign a payment term. 3. Click Edit t pen the Custmer Card page. 4. Expand the Payments FastTab. 5. In the Payment Terms Cde field, click the drp-dwn list and select the relevant payment term. 6-11

12 Finance Essentials in Micrsft Dynamics NAV 2013 FIGURE 6.8: CUSTOMER CARD WINDOW PAYMENTS FASTTAB 6. Click OK t clse the Custmer Card page. T assign a Payment Terms Cde t a vendr, fllw these steps. 1. In the Search bx, enter Vendrs, and then click the related link. 2. Lcate and select the vendr t assign a payment term. 3. Click Edit t pen the Vendr Card page. 4. Expand the Payments FastTab. 5. In the Payment Terms Cde field, click the drp-dwn list and select the relevant payment term. 6. Click OK t clse the Vendr Card page. Or, yu can als assign payment terms n the rder r the invice header if the Payment Terms Cde is nt assigned n the custmer r vendr, and, r different terms must be assigned t a specific sales rder r invice. 6-12

13 Mdule 6: Receivables and Payables Management: Payment Discunt and Payment Tlerance Prcess Sales Payment Discunts After a sales dcument is psted, the payment discunt infrmatin fr the Pmt. Discunt Date, Original Pmt. Disc. Pssible, and the Remaining Pmt. Disc. Pssible is recrded n the custmer ledger entry. Micrsft Dynamics NAV 2013 checks the payment discunt date f the applied custmer ledger entry r entries when users apply payments, refunds and credit mems. If the psting date f the applicatin is the same r earlier than the payment discunt date f the applied entry, the remaining discunt amunt is subtracted autmatically frm the remaining amunt f the applied entry, if the applied entry is fully applied. Adjust a Custmer Payment Discunt Yu can adjust the Pmt. Discunt Date and the Remaining Disc. Pssible discunt fields n the custmer ledger entries. Yu can adjust the payment discunt dates and the amunts when the invice is psted withut discunt infrmatin, the discunt date passed and yu apprve the date change, and the discunt amunt is calculated incrrectly. Demnstratin: Pst a Custmer Payment with a Payment Discunt Scenari: The Cannn Grup PLC, custmer 10000, in CRONUS Internatinal Ltd, is set up with payment terms. These payment terms include a tw percent payment discunt if it pays within eight days f the dcument date that is shwn n the invices. On January 26, 2014, Arnie, the accunts receivables administratr at CRONUS Internatinal Ltd., receives a payment f 8, LCY frm custmer 10000, fr invice The full amunt f invice is 8, LCY. Hwever, because The Cannn Grup PLC paid the invice within eight days, it has taken the tw percent discunt and reduced the payment by LCY. T prcess the discunted payment, fllw these steps. 1. In the Search bx, enter Cash Receipt Jurnals, and click the related link. 2. Make sure that the BANK jurnal batch is selected. 3. In the Psting Date field, enter 01/26/

14 Finance Essentials in Micrsft Dynamics NAV In the Dcument Type field, click the drp-dwn list and select Payment. 5. In the Accunt Type field, click the drp-dwn list and select Custmer. 6. In the Accunt N. field, enter Leave the Amunt field blank. 8. On the Actins tab, click Apply Entries. 9. Select the line fr invice On the Navigate tab, click Set Applies-t ID. 11. On the bttm f the Apply Custmer Entries page, ntice the fllwing fields: Amunt t Apply Cntains the full remaining amunt f the invice, withut cnsidering the payment discunt. Pmt. Discunt Amunt When the payment is made within the discunt perid, the remaining discunt amunt will be shwn here. Applied Amunt The amunt that will be applied t the jurnal line, as sn as the jurnal is psted. When there is n amunt filled in n the jurnal line, the Applied Amunt will autmatically be suggested n the jurnal line, as sn as the Apply Custmer Entries page is clsed. Available Amunt The amunt that is filled in n the jurnal and the maximum that can be applied t. Balance The difference between the applied amunt and the available amunt. Ntice that the Pmt. Disc. Amunt field n the bttm f the windw cntains the discunt amunt f and the Balance field cntains a zer balance. This is the result f the discunt being subtracted frm the payment amunt. 12. Click OK t clse the Apply Custmer Entries page. 13. The Amunt field n the jurnal line is nw ppulated. 14. On the Actins tab, click Pst. 15. Click Yes t pst the jurnal lines. 16. Click OK. 17. Click OK t clse the Cash Receipt Jurnal. T review the psted custmer ledger entries fr this payment, fllw these steps. 1. In the Search bx, enter Custmers, and then click the related link. 2. Lcate and select custmer On the Navigate tab, click Ledger Entries. 6-14

15 Mdule 6: Receivables and Payables Management: Payment Discunt and Payment Tlerance 4. Review the line fr invice : The Original Amunt and Amunt fields cntain the full amunt f the invice. The Remaining Amunt and Remaining Pmt. Disc. Pssible fields are zer. 5. Review the line fr the payment dated 01/26/14: The Original Amunt cntains the payment amunt. The Amunt field cntains the payment amunt plus the discunt amunt. The Remaining Amunt is zer. 6. Select the line fr the payment and n the Actins tab, click Navigate. 7. Select the line fr the general ledger entries and then click Shw. The payment discunt amunt is psted t the 9250 accunt, as it is specified by the custmer psting grups. 8. Click Clse t clse the General Ledger Entries page. 9. Click Clse t clse the Navigate page. 10. Click OK t clse the Custmer Ledger Entries page. Demnstratin: Psting Partial Custmer Payments with Payment Discunts Scenari: Custmer 40000, Deerfield Graphics, has an utstanding invice fr payment f 1, LCY. If the invice is paid by December 17, 2013, the custmer can take a LCY discunt. On December 12, 2013, a payment f LCY is sent. This payment is half f the discunted amunt (1, / 2 = ). On December 17, 2013, the remaining half f the payment is sent. Arnie can successfully pst bth payments, by using the discunt, because bth payments are received by December 17, Nte: Entries are psted in the year 2013 in this demnstratin. T prcess the first partial payment n an invice with an available discunt, fllw these steps. 1. In the Search bx, enter Cash Receipt Jurnals, and then click the related link. 2. Make sure that the BANK jurnal batch is selected. 6-15

16 Finance Essentials in Micrsft Dynamics NAV In the Psting Date field, enter 12/12/ In the Dcument Type field, click the drp-dwn list and select Payment. 5. In the Accunt Type field, click the drp-dwn list and select Custmer. 6. In the Accunt N. field, enter In the Amunt field, enter On the Actins tab, click Apply Entries. 9. On the Navigate tab, click Set Applies-t ID. 10. At the bttm f the page, ntice the fllwing: The Pmt. Disc. Amunt field cntains a zer balance. The Balance field at the bttm f the page is ut f balance by LCY. This is the amunt fr the ther half that is due and the full discunt amunt. 11. Click OK t clse the Apply Custmer Entries page. 12. On the Actins tab, click Pst. 13. Click Yes t pst the jurnal lines. 14. Click OK. T prcess the remaining partial payment n an invice with an available discunt, fllw these steps. 1. In the Psting Date field, enter 12/17/ In the Dcument Type field, click the drp-dwn list and select Payment. 3. In the Accunt Type field, click the drp-dwn list and select Custmer. 4. In the Accunt N. field, enter In the Amunt field, enter On the Actins tab, click Apply Entries. 7. On the Navigate tab, click Set Applies-t ID. 8. At the bttm f the page, ntice the fllwing: The Pmt. Disc. Amunt field cntains the remaining payment discunt pssible f LCY. The Balance field at the bttm f the page is nw zer. 9. Click OK t clse the Apply Custmer Entries page. 10. On the Actins tab, click Pst. 11. Click Yes t pst the jurnal lines. 12. Click OK. 13. Click OK t clse the Cash Receipt Jurnal page. 6-16

17 Mdule 6: Receivables and Payables Management: Payment Discunt and Payment Tlerance Because bth payments are received by the date specified in the Pmt. Discunt Date field, the partial payment structure is acceptable. Nte: If an invice is nt fully paid within the discunt date perid, the discunt is nt available. If yu still want t grant the discunt, yu can d the fllwing: Change the Pmt. Discunt Date befre the payment is prcessed. Add an additinal general ledger line t the cash receipt jurnal fr the payment discunt amunt and als apply this with the invice. If the payment is already prcessed and the payment discunt amunt remains as an pen amunt n the custmer ledger entry, yu can manually pst this amunt t the payment discunt accunt thrugh a general jurnal. Demnstratin: Add Discunts After Psting Sales Transactins Scenari: On January 21, 2014, custmer set up a payment discunt agreement with CRONUS Internatinal Ltd. It will take a tw percent discunt if payments are received within eight days f invicing. That same day, invice is psted befre the terms changed n the Custmer Card. On January 29, 2014, Arnie receives a payment f 6, LCY. This payment is LCY less than the invice amunt. When Arnie reviews the invice, he realizes that the crrect payment terms are nt applied and that the difference is the tw percent discunt. Arnie changes the discunt fields n the custmer ledger entries fr this invice and then psts the discunted payment. T change the custmer ledger entries t specify acceptable discunts, fllw these steps. 1. In the Search bx, enter Custmers, and then click the related link. 2. Lcate and select custmer On the Navigate tab, click Ledger Entries. 4. On the line fr invice , click the Pmt. Discunt Date field. 5. Enter 01/29/ In the Remaining Pmt. Disc. Pssible field, enter LCY. Ntice that this amunt must be entered in the same currency as the invice. 7. Click OK t clse the Custmer Ledger Entries page. 6-17

18 Finance Essentials in Micrsft Dynamics NAV 2013 T prcess the discunted payment, fllw these steps. 1. In the Search bx, enter Cash Receipt Jurnals, and then click the related link. 2. Make sure that the BANK jurnal batch is selected. 3. In the Psting Date field, enter 01/29/ In the Dcument Type field, click the drp-dwn list and select Payment. 5. In the Accunt Type field, click the drp-dwn list and select Custmer. 6. In the Accunt N. field, enter In the Amunt field, enter -6, On the Navigate tab, click Apply Entries. 9. Select the line fr invice On the Navigate tab, click Set Applies-t ID. 11. At the bttm f the page, ntice the fllwing: The Pmt. Disc. Amunt field cntains LCY, the discunt amunt. The Balance field cntains a zer balance because the discunt is available within this psting date range. 12. Click OK t clse the Apply Custmer Entries windw. 13. On the Actins tab, click Pst. 14. Click Yes t pst the jurnal lines. 15. Click OK. 16. Click OK t clse the Cash Receipt Jurnal page. Demnstratin: Apply Psted Payments t Sales Dcuments that Use Discunts When yu apply a payment r refund t entries while the payment r refund is psted, Micrsft Dynamics NAV 2013 autmatically includes payment discunt infrmatin. This payment discunt infrmatin is included n bth invice and credit mem entries when it calculates the payment amunt r the refund. Nte: When yu are applying psted payments and refunds t entries with payment discunt amunts, it is recmmended t apply ne payment r refund with each applicatin f psted entries. 6-18

19 Mdule 6: Receivables and Payables Management: Payment Discunt and Payment Tlerance Scenari: On January 25, 2014, a payment f 4, LCY is received frm custmer It is the end f the day and Arnie cannt match this exact amunt with an invice in the custmer ledger entries. Therefre, he decides t pst the payment t the accunt and pst the applicatin when he can determine the difference. After psting the payment, he realizes that the payment is fr invice The payment applies as fllws: The invice amunt is 4, LCY. The tw percent discunt amunt f LCY is taken incrrectly as LCY. The payment amunt is then 4, LCY (4, LCY LCY). Arnie als ntices that the payment is tw days past the discunt date. He discusses the situatin with Phyllis, the accunting manager, wh instructs him t give the discunt because this is ne f the cmpany's best custmers. Because CRONUS Internatinal Ltd. currently is nt set up with payment tlerance percentages, Arnie adjusts the Remaining Pmt. Disc. Pssible amunt t match the discunt taken and als changes the Pmt. Discunt Date t January 25, T save time, Arnie changes the payment discunt values in the Apply Custmer Entries page and then applies and psts the applicatin. T prcess the payment, fllw these steps. 1. In the Search bx, enter Cash Receipt Jurnals, and then click the related link. 2. Make sure that the BANK jurnal batch is selected. 3. In the Psting Date field, enter 01/25/ In the Dcument Type field, click the drp-dwn list and select Payment. 5. In the Accunt Type field, click the drp-dwn list and select Custmer. 6. In the Accunt N. field, enter In the Amunt field, enter -4, On the Actins tab, click Pst. 9. Click Yes t pst the jurnal lines. 10. Click OK. 11. Click OK t clse the Cash Receipt Jurnal page. 6-19

20 Finance Essentials in Micrsft Dynamics NAV 2013 T adjust, apply, and pst the payment discunt, fllw these steps. 1. In the Search bx, enter Custmers, and then click the related link. 2. Lcate and select custmer On the Navigate tab, click Ledger Entries. 4. On the line fr invice , click the Pmt. Discunt Date field, and enter 01/25/ In the Remaining Pmt. Disc. Pssible field, enter Select the payment line dated 01/25/14, fr On the Actins tab, click Apply Entries. 8. Click the line fr Dcument N On the Navigate tab, click Set Applies-t ID. 10. At the bttm f the page, ntice the fllwing: The Pmt. Disc. Amunt field cntains the LCY, the discunt amunt. The Balance field cntains a zer balance. This results frm the discunt being adjusted t match the discunt and fr i available within this psting date range. 11. On the Navigate tab, click Pst Applicatin. 12. Click OK. 13. Click OK t the message that the applicatin psted. 14. Click OK t clse the Custmer Ledger Entries page. Applying Sales Credit Mems with Payment Discunts When yu are psting a credit mem with a payment discunt amunt that is applied t an invice, the Remaining Pmt. Disc Pssible amunt fr the invice is reduced by the payment discunt amunt fr the credit mem. T apply a psted credit mem with a payment discunt amunt t an invice, fllw these step. 1. In the Search bx, enter Custmers, and then click the related link. 2. Lcate and select the relevant custmer. 3. On the Navigate tab, click Ledger Entries. 4. Select the line with the relevant credit mem. 5. On the Hme tab, click Apply Entries. 6. Select the line with the relevant invice. 7. On the Navigate tab, click Set Applies-t ID. 8. On the Navigate tab, click Pst Applicatin. 9. Click OK t apply the entries. 10. Click OK t the message that the entries are psted. 6-20

21 Mdule 6: Receivables and Payables Management: Payment Discunt and Payment Tlerance 11. Click OK t clse the Apply Custmer Entries page. 12. Review the applied entries in the Custmer Ledger Entries page. Ntice that the amunt in the Remaining Pmt. Disc. Pssible field n the invice line is reduced by the payment discunt amunt n the credit mem. 13. Click OK t clse the Custmer Ledger Entries page. 6-21

22 Finance Essentials in Micrsft Dynamics NAV 2013 Lab 6.1: Pst a Custmer Payment with a Discunt Scenari On January 8, 2014, the accunts payable clerk fr custmer 10000, cntacts yu. The clerk wants t knw whether the tw percent discunt can still be taken n Dcument N if the payment is received n 01/09/14. This date is ne day past the payment discunt date. Yu state that it is acceptable, because this is ne f yur best custmers. On January 9, 2014, yu receive a payment f 49, LCY. Adjust the payment discunt date while applying the payment. Exercise 1: Pst a Custmer Payment with a Discunt Task 1: Pst a Custmer Payment with a Discunt High Level Steps 1. Enter the infrmatin as it is specified in the scenari. 2. Adjust and apply the invice as it is specified in the scenari. 3. Pst the Cash Receipt Jurnal. Detailed Steps 1. Enter the infrmatin as it is specified in the scenari. a. On the navigatin pane, click Departments. b. Click Financial Management, click Receivables, and then click Cash Receipt Jurnals. c. Make sure that the BANK jurnal batch is selected. d. In the Psting Date field, enter 01/09/14. e. In the Dcument Type field, click the drp-dwn list and select Payment. f. In the Accunt Type field, click the drp-dwn list and select Custmer. g. In the Accunt N. field, enter Adjust and apply the invice as it is specified in the scenari. a. On the Actins tab, click Apply Entries. b. Select the line fr invice c. In the Pmt. Discunt Date field, enter 01/09/14. d. On the Navigate tab, click Set Applies-t ID. e. Click OK t clse the Apply Custmer Entries page. 6-22

23 Mdule 6: Receivables and Payables Management: Payment Discunt and Payment Tlerance 3. Pst the Cash Receipt Jurnal. a. On the Actins tab, click Pst. b. Click Yes t pst the jurnal lines. c. Click OK. d. Click OK t clse the Cash Receipt Jurnal. 6-23

24 Finance Essentials in Micrsft Dynamics NAV 2013 Lab 6.2: Apply Psted Partial Custmer Payments with Discunts Scenari On January 8, 2014, yu receive a payment f 33, LCY frm custmer Even thugh yu cannt determine what the payment applies t, yu pst the payment t the custmer accunt. Afterward, yu learn that the payment is fr Dcument N Because the payment is made n January 8, 2014, the full discunt f LCY is available. Hwever, a small errr is made in the discunt calculatin and this has resulted in the custmer taking a larger discunt. Because this is a gd custmer, adjust the discunt t match the amunt taken: LCY. First, pst the payment but d nt apply it t an invice. Then, adjust the discunt amunt while applying the invice t the payment. Exercise 1: Apply Psted Partial Custmer Payments with Discunts Task 1: Apply Psted Partial Custmer Payments with Discunts High Level Steps 1. Pst the payment as it is specified in the scenari. 2. Apply the psted payment t the invice as it is specified in the scenari. Remember t adjust the payment discunt amunt. 3. Pst the applicatin. Detailed Steps 1. Pst the payment as it is specified in the scenari. a. On the navigatin pane, click Departments. b. Click Financial Management, click Receivables, and then click Cash Receipt Jurnals. c. Make sure that the BANK jurnal batch is selected. d. In the Psting Date field, enter 01/08/14. e. In the Dcument Type field, click the drp-dwn list and select Payment. f. In the Accunt Type field, click the drp-dwn list and select Custmer. g. In the Accunt N. field, enter h. In the Amunt field, enter -33, i. On the Actins tab, click Pst. 6-24

25 Mdule 6: Receivables and Payables Management: Payment Discunt and Payment Tlerance j. Click Yes t pst the jurnal lines. k. Click OK. l. Click OK t clse the Cash Receipt Jurnal. 2. Apply the psted payment t the invice as it is specified in the scenari. Remember t adjust the payment discunt amunt. a. On the navigatin pane, click Departments. b. Click Financial Management, click Receivables, and then click Custmers. c. Lcate and select custmer d. On the Navigate tab, click Ledger Entries. e. Select the line fr invice f. In the Remaining Pmt. Disc. Pssible field, enter g. Select the payment line dated 01/08/14, fr -33, h. On the Actins tab, click Apply Entries. i. Click the line fr Dcument N j. On the Navigate tab, click Set Applies-t ID. k. At the bttm f the page, ntice the fllwing: The Pmt. Disc. Amunt field cntains LCY, the discunt amunt. The Balance field cntains a zer balance because the discunt is adjusted t match the discunt and fr it t be available within this psting date range. 3. Pst the applicatin. a. On the Navigate tab, click Pst Applicatin. b. Click OK. c. Click OK t the message that the applicatin psted. d. Click OK t clse the Custmer Ledger Entries page. Prcess Purchase Payment Discunts In the Suggest Vendr Payments batch jb f the Payment Jurnal, there are sme differences in the criteria that are used t make a payment when the Find Payment Discunts check bx is either selected r it is cleared. Based n this, Micrsft Dynamics NAV 2013, suggests the fllwing: If this check bx is selected, then payments are made fr: All pen entries that have a Due Date n r befre the date entered in the Last Payment Date field. Any pen vendr ledger entry that has a Pmt. Discunt Date between the Psting Date and the Last Payment Date. 6-25

26 Finance Essentials in Micrsft Dynamics NAV 2013 If this check bx is cleared, then payments are made fr: Only thse entries that have a Due Date n r befre the Last Payment Date. Adjust Vendr Payment Discunt Yu can adjust the Pmt. Discunt Date and the Remaining Pmt. Disc. Pssible discunt fields n the vendr ledger entries. Yu can adjust the payment discunt dates and the amunts when the invice is psted withut discunt infrmatin, the discunt date passed and the vendr apprves the date change, and when the discunt amunt is calculated incrrectly. Demnstratin: Suggest Discunted Vendr Payment Lines Scenari: On January 25, 2014, a payment f LCY is received frm vendr 40000, Lewis Hme Furniture, fr invice The invice is fr nine wden drs, item This vendr has granted a tw percent payment discunt if the payment is received within eight days f the invice. On February 1, 2014, April runs the Suggest Vendr Payments batch jb fr this vendr with a last payment date f 02/15/14. The first time she runs the batch jb, she frgets t add a check mark in the Find Payment Discunts and the payment is nt suggested. She runs the batch jb again and inserts a check mark in the Find Payment Discunts check bx. The discunted payment is suggested. Nte: In the General Ledger Setup page, the Pmt. Disc. Excl. VAT and Adjust fr Payment Discunt check bxes are bth cleared. T pst the invice, fllw these steps. 1. In the Search bx, enter Purchase Invices, and then click the related link. 2. Click New. 3. In the Buy-frm Vendr N. field, enter In the Psting Date field, enter 01/25/ In the Vendr Invice N. field, enter Expand the Invicing FastTab. 7. In the Payment Terms Cde field, click the drp-dwn list and select 1M(8D). 8. Expand the Lines FastTab. 6-26

27 Mdule 6: Receivables and Payables Management: Payment Discunt and Payment Tlerance 9. In the Type field, click the drp-dwn list and select Item. 10. In the N. field, enter In the Quantity field, enter On the Actins tab, click Pst. 13. Click Yes t pst the invice. 14. Click OK t clse the Purchase Invice page. T suggest vendr payments withut finding discunts, fllw these steps. 1. In the Search bx, enter Payment Jurnal, and then click the related link. 2. Make sure that the BANK jurnal batch is selected. 3. On the Navigate tab, click Suggest Vendr Payments. 4. Expand the Optins FastTab. 5. In the Last Payment Date field, enter 02/15/ Make sure that the Find Payment Discunts check bx is cleared. 7. In the Psting Date field, enter 02/01/ In the Bal. Accunt Type field, click the drp-dwn list and select Bank Accunt. 9. In the Bal. Accunt N. field, click the drp-dwn list, select WWB- OPERATING and then click OK. 10. In the Bank Payment Type field, click the drp-dwn list and then select Cmputer Check. 11. Expand the Vendr FastTab. 12. In the N. filter, enter Click OK t run the Suggest Vendr Payments batch jb. 14. Ntice that the payment is nt suggested. Because the invice is nt due until 02/25/10, it is nt suggested because the Find Payment Discunt check bx did nt prmpt Micrsft Dynamics NAV 2013 t search fr any discunts befre the due date. 15. Click OK t clse the Payment Jurnal page. T suggest vendr payments with discunts, fllw these steps. 1. In the Search bx, enter Payment Jurnal, and then click the related link. 2. Make sure that the BANK jurnal batch is selected. 3. On the Navigate tab, click Suggest Vendr Payments. 4. Expand the Optins FastTab. 5. In the Last Payment Date field, enter 02/15/ Make sure that the Find Payment Discunts check bx is selected. 6-27

28 Finance Essentials in Micrsft Dynamics NAV In the Psting Date field, enter 02/01/ In the Bal. Accunt Type field, click the drp-dwn list and select Bank Accunt. 9. In the Bal. Accunt N. field, click the drp-dwn list, select WWB- OPERATING and then click OK. 10. In the Bank Payment Type field, click the drp-dwn list and then select Cmputer Check. 11. Expand the Vendr FastTab. 12. In the N. filter, enter Click OK t run the Suggest Vendr Payments batch jb. One jurnal line is created fr the invice In the Amunt field, a payment amunt fr LCY is suggested. The riginal invice amunt is LCY. The tw percent discunt f 5.96 LCY is subtracted frm the payment amunt because the Psting Date is within the payment discunt range. 15. In the Applies-t Dc. N. field, click the drp-dwn list t pen the Apply Vendr Entries page. 16. Review the amunt fields at the bttm f the page. Amunt t Apply Cntains the full remaining amunt f the invice, withut cnsidering the payment discunt. Pmt. Discunt Amunt When the payment is made within the discunt perid, the remaining discunt amunt will be shwn here. Applied Amunt The amunt that will be applied t the jurnal line, after the jurnal is psted. Available Amunt The amunt that is filled in n the jurnal line and t which the maximum can be applied. Balance The difference between the applied amunt and the available amunt. 17. Click OK t clse the Apply Vendr Entries page. 18. Delete the suggested payment jurnal line. 19. Click OK t clse the Payment Jurnal page. Demnstratin: Suggest Vendr Payment Lines withut a Discunt Scenari: On February 15, 2014, April runs the Suggest Vendr Payments batch jb t find discunts fr all payments due n r befre February 28, She reviews the payment fr vendr Because the payment is nt suggested within the payment discunt date, the discunt is nt applied t the payment. 6-28

29 Mdule 6: Receivables and Payables Management: Payment Discunt and Payment Tlerance T suggest vendr payments withut discunts, fllw these steps. 1. In the Search bx, enter Payment Jurnals, and then click the related link. 2. Make sure that the BANK jurnal batch is selected. 3. On the Navigate tab, click Suggest Vendr Payments. 4. Expand the Optins FastTab. 5. In the Last Payment Date field, enter 02/28/ Make sure that the Find Payment Discunts check bx is selected. 7. In the Psting Date field, enter 02/15/ In the Bal. Accunt Type field, click the drp-dwn list and select Bank Accunt. 9. In the Bal. Accunt N. field, click the drp-dwn list, select WWB- OPERATING and then click OK. 10. In the Bank Payment Type field, click the drp-dwn list and then select Cmputer Check. 11. Expand the Vendr FastTab. 12. In the N. filter, enter Click OK t run the Suggest Vendr Payments batch jb. One jurnal line is created fr invice In the Amunt field, a payment amunt fr LCY is suggested. This is the full amunt f the invice. 15. In the Applies-t Dc. N. field, click the drp-dwn list t pen the Apply Vendr Entries page. 16. Review the amunt fields at the bttm f the page. 17. Click OK t clse the Apply Vendr Entries page. 18. Delete the suggested payment jurnal line. 19. Click OK t clse the Payment Jurnal page. Demnstratin: Add Discunts after Psting Purchase Transactins Scenari: On February 3, 2014, April remembers t suggest vendr payments fr vendr She realizes that the payment discunt date passed. Therefre, April calls the vendr t ask whether she can still take the discunt. The vendr apprves the discunt, but April must send the payment by using vernight mail. She changes the payment discunt date n the vendr ledger entry and then she runs the Suggest Vendr Payment batch jb again. 6-29

30 Finance Essentials in Micrsft Dynamics NAV 2013 T change the payment discunt date n the vendr ledger entry, fllw these steps. 1. In the Search bx, enter Vendrs, and then click the related link. 2. Lcate and select vendr On the Navigate tab, click Ledger Entries. 4. On the invice line, in the Pmt. Discunt Date field, enter 02/03/ Click OK t clse the Vendr Ledger Entries page. T run the Suggest Vendr Payments batch jb, fllw these steps. 1. In the Search bx, enter Payment Jurnal, and then click the related link. 2. Make sure that the BANK jurnal batch is selected. 3. On the Navigate tab, click Suggest Vendr Payments. 4. Expand the Optins FastTab. 5. In the Last Payment Date field, enter 02/28/ Make sure that the Find Payment Discunts check bx is selected. 7. In the Psting Date field, enter 02/03/ In the Bal. Accunt Type field, click the drp-dwn list and select Bank Accunt. 9. In the Bal. Accunt N. field, click the drp-dwn list, select WWB- OPERATING and then click OK. 10. In the Bank Payment Type field, click the drp-dwn list and then select Cmputer Check. 11. Expand the Vendr FastTab. 12. In the N. filter, enter Click OK t run the Suggest Vendr Payments batch jb. One jurnal line is created fr invice In the Amunt field, a LCY payment is suggested. The riginal invice amunt is LCY. The tw percent discunt f 4.77 LCY is subtracted frm the payment amunt because the Psting Date is within the payment discunt range. 15. Delete the suggested payment jurnal line. 16. Click OK t clse the Payment Jurnal page. 6-30

31 Mdule 6: Receivables and Payables Management: Payment Discunt and Payment Tlerance Set Up a Payment Discunt Tlerance and a Payment Tlerance Smetimes, a custmer can underpay r verpay an invice amunt. When this ccurs, the fllwing tw ptins are available: Pst the payments with a remaining amunt. With this ptin, yu must clse the remaining amunt using ther methds, such as psting an adjustment and, r by cntacting the custmer fr additinal payment. Set up payment tlerances t clse entries where there is a difference between the amunt wed and the amunt paid. With this ptin, parameters f acceptable differences are used t pst the amunts t G/L accunts. Fr accunts payables, payment tlerances are used t make payments t vendrs that have a slightly different invice amunt. When yu use a payment tlerance, yu can d the fllwing: Set the payment tlerance percentage, payment discunt grace perid, and the maximum payment tlerance amunt. Determine whether t receive a warning when an applicatin is made within the payment tlerance parameters set. Determine t which accunt t pst the difference t keep track f amunts and their frequency. Set up different payment tlerances fr different currencies. Wrk with a payment tlerance n invices and payments, credit mems and refunds. Determine the custmers wh can use r be blcked frm payment tlerances. In Micrsft Dynamics NAV 2013, there are tw types f payment tlerance: Payment Discunt Tlerance: This takes a payment discunt even if the payment discunt date has passed. Payment Tlerance: This accepts a slightly larger r smaller amunt as full settlement f an utstanding invice. Set Up n Custmer Cards As a default, a payment tlerance can be used fr all custmers. This default can be changed fr a specific custmer. 6-31

32 Finance Essentials in Micrsft Dynamics NAV 2013 T disable payment tlerances, fllw these steps. 1. In the Search bx, enter Custmers, and then click the related link. 2. Lcate and select the custmer t disable the payment tlerance, and then click Edit. 3. Expand the Payments FastTab. 4. Select the Blck Payment Tlerance check bx. 5. Yu will receive a message that asks whether the payment tlerance is t be remved frm all pen entries. Click Yes t remve the payment tlerance n pen entries and t restrict it frm future invices. Click N t maintain the payment tlerance n pen entries but restrict it frm future invices. 6. Click OK t clse the Custmer Card page. Nte: The Blck Payment Tlerance check bx applies t bth the payment discunt tlerance and the payment tlerance. T make a disabled payment tlerance available, clear the Blck Payment Tlerance check bx n the Custmer Card. Set Up n Vendr Cards As a default, a payment tlerance can be used fr all vendrs. This default can be changed n the Vendr Card. T make the payment tlerances unavailable, fllw these steps. 1. In the Search bx, enter Vendrs, and then click the related link. 2. Lcate and select the vendr t make the payment tlerance unavailable, and then click Edit. 3. Expand the Payments FastTab. 4. Select the Blck Payment Tlerance check bx. 5. Yu will receive a message that asks whether the payment tlerance is t be remved frm all pen entries. Click Yes t remve the payment tlerance n pen entries and t restrict it frm future invices. Click N t maintain the payment tlerance n pen entries but restrict it frm future invices. 6. Click OK t clse the Vendr Card page. Nte: The Blck Payment Tlerance check bx is applied t bth the payment discunt tlerance and the payment tlerance. 6-32

33 Mdule 6: Receivables and Payables Management: Payment Discunt and Payment Tlerance T make a payment tlerance unavailable, clear the Blck Payment Tlerance field n the Vendr Card. Set Up and Assign Payment Tlerance G/L Accunts T pst a tlerance t a G/L accunt that differs frm the usual payment discunt accunt, the accunts must be created in the Chart f Accunts and set up n the fllwing: Custmer Psting Grups and Vendr Psting Grups When the Adjust fr Payment Discunt check bx is cleared n the General Ledger Setup page. General Psting Setup When the Adjust fr Payment Discunt check bx is selected n the General Ledger Setup page. Nte: The payment tlerance accunts can be used fr bth the payment discunt tlerance and the payment tlerance. Set Up Custmer and Vendr Psting Grups T set up the payment discunt accunts fr custmer psting grups, fllw these steps. 1. In the Search bx, enter Custmer Psting Grups, and then click the related link. 2. Fr each custmer psting grup that uses payment discunts, d the fllwing: In the Payment Tlerance Debit Acc. field, click the drp-dwn list and select the payment tlerance accunt. The general ledger accunt is used t pst the payment tlerance when yu pst payments fr sales. In the Payment Tlerance Credit Acc. field, click the drp-dwn list and select the payment tlerance accunt. The general ledger accunt is used t pst the payment tlerance when yu pst payments fr sales. T set up the payment discunt accunts fr vendr psting grups, fllw these steps. 1. In the Search bx, enter Vendr Psting Grups, and then click the related link. 2. Fr each custmer psting grup that uses payment discunts, d the fllwing: 6-33

34 Finance Essentials in Micrsft Dynamics NAV 2013 In the Payment Tlerance Debit Acc. field, click the drp-dwn list and select the payment discunt accunt. The general ledger accunt is used t pst the payment tlerance when yu pst payments fr purchases. In the Payment Tlerance Credit Acc. field, click the drp-dwn list and select the payment discunt accunt. The general ledger accunt is used t pst the payment tlerance when yu pst payments fr purchases. Set Up General Psting Grups T set up the payment discunt accunts fr general psting grups, fllw these steps. 1. In the Search bx, enter General Psting Setup, and then click the related link. 2. Fr each general psting grup cmbinatin that uses payment discunt, d the fllwing: In the Sales Pmt. Tl. Debit Acc. field, click the drp-dwn list and select the payment tlerance accunt. This is the general ledger accunt that is used t pst the payment tlerance when yu pst payments fr sales with this particular cmbinatin f business grup and prduct grup. In the Sales Pmt. Tl. Credit Acc. field, click the drp-dwn list and select the payment tlerance accunt. This is the general ledger accunt that is used t pst the payment tlerance when yu pst payments fr sales with this particular cmbinatin f business grup and prduct grup. In the Purch. Pmt. Tl. Debit Acc. field, click the drp-dwn list and select the payment tlerance accunt. This is the general ledger accunt that is used t pst the payment tlerance when yu pst payments fr purchases with this particular cmbinatin f business grup and prduct grup. In the Purch. Pmt. Tl. Credit Acc. field, click the drp-dwn list and select the payment tlerance accunt. This is the general ledger accunt that is used t pst the payment tlerance when yu pst payments fr purchases with this particular cmbinatin f business grup and prduct grup. 6-34

35 Mdule 6: Receivables and Payables Management: Payment Discunt and Payment Tlerance Set Up a Payment Discunt Tlerance Fr a payment discunt t be taken after the payment discunt date passed, the fllwing setup is available: Set up the payment tlerance general ledger accunts n custmer/vendr psting grups r general psting grups. Set up cmpanywide payment discunt tlerance parameters n the General Ledger Setup page. The payment discunt tlerance can be made available r unavailable fr individual custmers r vendrs. Set Up a Payment Discunt Tlerance in General Ledger Setup T access the cmpanywide payment discunt tlerance parameters, fllw these steps. 1. In the Search bx, enter General Ledger Setup, and then click the related link. 2. Expand the Applicatin FastTab. FIGURE 6.9: GENERAL LEDGER SETUP WINDOW APPLICATION FASTTAB 3. Pmt. Disc. Tlerance Warning If this field is selected the system generates a warning message when an applicatin is made between the payment discunt date and the payment discunt tlerance date. Select t accept r decline the payment discunt tlerance. 6-35

36 Finance Essentials in Micrsft Dynamics NAV 2013 If the payment discunt tlerances are usually allwed, clear this check bx. Micrsft Dynamics NAV 2013 will then autmatically pst the applicatin as a payment discunt tlerance. 4. Pmt. Disc. Tlerance Psting Identifies the type f G/L accunts t pst the payment discunt tlerance. There are tw selectins fr psting: Payment Tlerance Accunts The payment discunt tlerance is psted t a special G/L accunt set up fr the payment tlerance. Payment Discunt Accunts The payment discunt tlerance is psted as a payment discunt. 5. Payment Discunt Grace Perid Determines the number f days that a payment r refund can pass the payment discunt due date and still receive the payment discunt. Specified as a date frmula. Fr example, t allw five days, enter 5D. 6. Yu will receive a message that asks yu t change all pen entries fr all custmers and vendrs that are nt blcked. (Where the Blck Payment Tlerance check bx is clear.) Yes The Pmt. Disc. Tlerance Date field n all applicable pen custmer and vendr entries is updated. The payment discunt tlerance date is calculated as the payment discunt date plus the payment discunt grace perid. N The payment discunt tlerance will nly be calculated fr future custmer and vendr entries. 7. Click OK t clse the General Ledger Setup page. Demnstratin: Set Up a Payment Discunt Tlerance Scenari: Cassie, the accuntant at CRONUS Internatinal Ltd., is asked t set up a payment discunt tlerance because f the many late payments with payment discunts. The cmpany is als being requested t d the fllwing: Receive ntificatin if there is a payment discunt tlerance. Use special accunts fr the tlerance pstings. Give a payment discunt grace perid f five days. T set up the payment discunt tlerance parameters, fllw these steps. 1. In the Search bx, enter General Ledger Setup, and then click the related link. 2. Expand the Applicatin FastTab. 3. Select the Pmt. Disc. Tlerance Warning check bx. 6-36

37 Mdule 6: Receivables and Payables Management: Payment Discunt and Payment Tlerance 4. Make sure that the Pmt. Disc. Tlerance Psting field is set t Payment Tlerance Accunts. 5. In the Payment Discunt Grace Perid field, enter 5D. 6. Click Yes t update the change t existing custmer and vendr ledger entries. 7. Click OK t clse the General Ledger Setup page. Prcess the Payment Discunt Tlerance Adjust the Payment Discunt Tlerance Yu can adjust the Pmt. Disc. Tlerance Date field n the custmer and vendr ledger entries: Yu can adjust the payment discunt tlerance dates when the fllwing actins ccur: The invice psted withut discunt infrmatin. When payment discunt tlerance parameters are nt set up and the discunt date passed and yu apprved the date change. When payment discunt tlerance parameters are set up and the discunt tlerance date passed and yu apprved the date change. Nte: Yu can change the Pmt. Discunt Date r the Pmt. Disc. Tlerance Date field. When yu change the Pmt. Discunt Date, the discunt amunt will be autmatically subtracted and it will be psted n the Payment Discunt Accunts. When yu change the Pmt. Disc. Tlerance Date, the discunt amunts must be manually subtracted. A payment discunt warning can appear, depending n the setup. Additinally, the discunt amunt will be psted n the Payment Tlerance Accunts r n the Payment Discunts Accunts, depending n the setup n the General Ledger Setup page. Demnstratin: Custmer Payment Discunt Taken Past the Discunt Date Scenari: On January 10, 2014, Arnie, the Accunt Receivable assistant, receives a payment f 49, LCY frm The Cannn Grup PLC, fr invice Hwever, the inviced amunt is 50, LCY. 6-37

38 Finance Essentials in Micrsft Dynamics NAV 2013 The Cannn Grup PLC has taken the payment discunt tw days past the discunt date f January 8, Because CRONUS Internatinal Ltd. has set up a grace perid f five days, this discunt is acceptable. T pst the payment by using the tlerance, fllw these steps. 1. In the Search bx, enter Cash Receipt Jurnals, and then click the related link. 2. Make sure that the BANK jurnal batch is selected. 3. In the Psting Date field, enter 01/10/ In the Dcument Type field, click the drp-dwn list and select Payment. 5. In the Accunt Type field, click the drp-dwn list and select Custmer. 6. In the Accunt N. field, enter In the Amunt field, enter -49, On the Actins tab, click Apply Entries. 9. Select the line fr Dcument N On the Navigate tab, click Set Applies-t ID. Ntice that the Balance field at the bttm f the windw cntains a difference f -1, LCY. 11. Click OK t clse the Apply Custmer Entries page. The Payment Discunt Tlerance Warning page appears, with the ptins f accepting r declining the late payment discunt. 12. T accept the late payment discunt, select the Pst as Payment Discunt Tlerance ptin. 13. Click Yes t clse the Payment Discunt Tlerance Warning page 14. On the Actins tab, click Pst. 15. Click Yes t pst the jurnal lines. 16. Click OK. 17. Click OK t clse the Cash Receipt Jurnal page. Demnstratin: Vendr Payment Discunt Taken Past the Discunt Date Scenari: As f February 5, 2014, the invice fr vendr is nt yet paid. April cntacts the vendr wh guarantees her that it is fine t take the discunt. Instead f adjusting the discunt fields, and because a payment tlerance is set up, April suggests vendr payments and then changes the amunt t the discunted amunt f 292,16 LCY. 6-38

39 Mdule 6: Receivables and Payables Management: Payment Discunt and Payment Tlerance In this demnstratin, the payment is nt printed r psted. T suggest vendr payments with discunts, fllw these steps. 1. In the Search bx, enter Payment Jurnal, and then click the related link. 2. Make sure that the BANK jurnal batch is selected. 3. On the Navigate tab, click Suggest Vendr Payments. 4. Expand the Optins FastTab. 5. In the Last Payment Date field, enter 02/25/ Make sure that the Find Payment Discunts check bx is selected. 7. In the Psting Date field, enter 02/05/ In the Bal. Accunt Type field, click the drp-dwn list and select Bank Accunt. 9. In the Bal. Accunt N. field, click the drp-dwn list, select WWB- OPERATING and then click OK. 10. In the Bank Payment Type field, click the drp-dwn list and then select Cmputer Check. 11. Expand the Vendr FastTab. 12. In the N. filter, enter Click OK t run the Suggest Vendr Payments batch jb. One jurnal line is created fr invice In the Amunt field, a payment fr LCY is suggested. This is the full amunt f the invice. Change the amunt t LCY and press TAB r ENTER. The Payment Discunt Tlerance Warning page appears, with the ptins f accepting r declining the late payment discunt. 15. T accept the late payment discunt, select the Pst as Payment Discunt Tlerance ptin. 16. Click Yes t clse the Payment Discunt Tlerance Warning page. 17. When the payment is psted, the invice and the payment are clsed withut remaining amunts. Hwever, fr the fllwing demnstratins, delete the payment jurnal line. 18. Click OK t clse the Payment Jurnal page. 6-39

40 Finance Essentials in Micrsft Dynamics NAV 2013 Set Up a Payment Tlerance Set Up a Payment Tlerance in General Ledger Setup T access the cmpanywide payment discunt tlerance parameters, fllw these steps. 1. In the Search bx, enter General Ledger Setup, and then click the related link. 2. Expand the Applicatin FastTab. 3. Payment Tlerance Warning If this field is selected, the system generates a warning message when an applicatin is made and a balance is within the allwed payment tlerance amunt. Yu can accept r decline the payment tlerance. If payment tlerances are usually allwed, clear this check bx. Micrsft Dynamics NAV 2013 will then autmatically pst the applicatin as a payment tlerance. 4. Payment Tlerance Psting Identifies the G/L accunts t pst a payment tlerance. There are tw selectins fr psting: Payment Tlerance Accunts The payment tlerance is psted t a special G/L accunt set up fr a payment tlerance. Payment Discunt Accunts The payment tlerance is psted as a payment discunt. The Payment Tlerance Percentage and Maximum Payment Tlerance Amunt fields cannt be edited, and they can nly be changed thrugh the Change Payment Tlerance batch jb. T change the payment tlerance, fllw these steps. 1. On the Actins tab, click Change Payment Tlerance. 2. Select the All Currencies check bx, if the Payment Tlerance Percentage and Max. Payment Tlerance Amunt applies fr all currencies. 3. If the All Currencies check bx is clear, yu can indicate a specific currency in the Currency Cde field fr which the Payment Tlerance Percentage and Max. Payment Tlerance Amunt is applicable. If yu leave this field blank, the parameters are applicable fr the lcal currency. 4. Payment Tlerance Percentage Determines the percentage that the payment r refund can differ frm the amunt n the invice r credit mem. 5. Max. Payment Tlerance Amunt Specifies the maximum allwed amunt that the payment r refund can differ frm the amunt n the invice r credit mem. 6-40

41 Mdule 6: Receivables and Payables Management: Payment Discunt and Payment Tlerance FIGURE 6.10: CHANGE PAYMENT TOLERANCE BATCH JOB 6. Click OK t clse the Change Payment Tlerance page. 7. Yu will receive a message that asks yu t change all pen entries fr all custmers and vendrs that are nt blcked. (Where the Blck Payment Tlerance check bx is clear.) Yes The Max. Payment Tlerance field n all applicable pen custmer and vendr entries is updated. The payment tlerance percentage is calculated and taken as the payment tlerance amunt, unless the maximum payment tlerance amunt is a reduced amunt. N The payment discunt tlerance will nly be calculated fr future custmer and vendr entries. 8. After the payment tlerance is set up fr the lcal currency, the Payment Tlerance Percentage and Max. Payment Tlerance Amunt will appear n the General Ledger Setup page. 9. Click OK t clse the General Ledger Setup page. Set Up a Payment Tlerance n a Currency Card The General Ledger Setup page nly displays the payment tlerance parameters set up fr the lcal currency. The payment tlerance parameters set up fr the freign currencies can be viewed n the Currencies page. 6-41

42 Finance Essentials in Micrsft Dynamics NAV 2013 T access the Currencies page, fllw these steps. 1. In the Search bx, enter Currencies, and then click the related link. 2. The Payment Tlerance % and Max. Payment Tlerance Amunt fields are available, but they can nly be edited thrugh the Change Payment Tlerance batch jb. (Yu can access this thrugh the Ribbn.) Demnstratin: Set Up a Payment Tlerance Scenari: Cassie, the accuntant at CRONUS Internatinal Ltd., is asked t set up a payment tlerance because f the many underpayments received based n payment discunts. Yur cmpany has decided t give a ne percent payment tlerance fr payment amunts. Hwever, the tlerance cannt exceed LCY. The cmpany is als requesting t receive ntificatin if there is a payment tlerance and t use special accunts fr tlerance pstings. T set up the tlerance parameters, fllw these steps. 1. In the Search bx, enter General Ledger Setup, and then click the related link. 2. Expand the Applicatin FastTab. 3. Select the Payment Tlerance Warning check bx. 4. Make sure that the Payment Tlerance Psting field is set t Payment Tlerance Accunts. 5. On the Actins tab, click Change Payment Tlerance. 6. Clear the All Currencies check bx. 7. Leave the Currency Cde field blank. 8. In the Payment Tlerance % field, enter In the Max. Pmt. Tlerance Amunt field, enter Click OK t run the batch jb. 11. Click Yes t update the change t existing custmer and vendr ledger entries. 12. Ntice that the Payment Tlerance % and Max. Pmt. Tlerance Amunt fields n the General Ledger Setup page cntain the values entered in the Change Payment Tlerance batch jb. 13. Click OK t clse the General Ledger Setup page. 6-42

43 Mdule 6: Receivables and Payables Management: Payment Discunt and Payment Tlerance Lab 6.3: Set Up a Payment Tlerance Scenari The Chief Financial Officer (CFO) at CRONUS Internatinal Ltd. discvered that the existing tlerance is t strict and he r she created t many pen balances fr amunts that are nt significant. As the accunting manager, yu are asked t change the existing tlerance t allw a three percent verpayment, and, r underpayment f invices, with a maximum tlerance f LCY. The ther tlerance parameters d nt have t change. But all pen ledger entries must be updated t reflect the new tlerance. Exercise 1: Set Up a Payment Tlerance Task 1: Set Up a Payment Tlerance High Level Steps 1. Set Up a Payment Tlerance in General Ledger Setup. Detailed Steps 1. Set Up a Payment Tlerance in General Ledger Setup. a. On the navigatin pane, click Departments. b. Click Administratin, and then click Applicatin Setup. c. On the Applicatin Setup page, click Financial Management, click Finance, and then click General Ledger Setup. d. Expand the Applicatin FastTab. e. Make sure that the Payment Tlerance Warning check bx is selected. f. On the Actins tab, click Change Payment Tlerance. g. Clear the All Currencies check bx. h. Leave the Currency Cde field blank. i. In the Payment Tlerance % field, enter 3. j. In the Max. Pmt. Tlerance Amunt field, enter 200. k. Click OK t run the batch jb. l. Click Yes t update the change t existing custmer and vendr ledger entries. Ntice that the Payment Tlerance % and Max. Pmt. Tlerance Amunt fields n the General Ledger Setup page cntain the values entered in the Change Payment Tlerance batch jb. m. Click OK t clse the General Ledger Setup page. 6-43

44 Finance Essentials in Micrsft Dynamics NAV 2013 Prcess a Payment Tlerance Adjust a Payment Tlerance Yu can adjust the Max. Payment Tlerance field n the custmer and vendr ledger entries. Yu can adjust the payment tlerance amunt, when n payment tlerance parameters are set up and yu apprve the change fr the amunt. Yu can als adjust the payment tlerance amunt when the payment discunt is calculated incrrectly and yu apprve the change fr the amunt, and when the payment tlerance parameters are set up and the payment amunt differs frm the parameters, and yu apprve the change fr the amunt. Nte: When the paid discunt amunt is incrrect, yu can change the Remaining Pmt. Disc. Pssible r the Max. Payment Tlerance field. When yu change the Remaining Pmt. Disc. Pssible the discunt amunt will be autmatically subtracted, and the discunt amunt will be psted n the Payment Discunt Accunts. When yu change the Max. Payment Tlerance field, the difference in the discunt amunt must be manually subtracted. A payment warning can appear, depending n the setup, and the difference in the discunt amunt will be psted n the Payment Tlerance Accunts r the Payment Discunt Accunts, depending n the setup n the General Ledger Setup page. Demnstratin: Prcess an Incrrect Custmer Payment Scenari: On January 30, 2014, Arnie receives a payment fr 63, LCY frm The Cannn Grup PLC, fr invice Hwever, the invice amunt is 63, LCY. Althugh a discunt f 1, LCY existed, the discunt due date, and the discunt tlerance due date have expired. Arnie realizes that the difference in the payment amunt is an errr. Hwever, because CRONUS Internatinal Ltd. set up a three percent payment tlerance, this payment difference is acceptable. T pst the payment by using the tlerance, fllw these steps. 1. In the Search bx, enter Cash Receipt Jurnals, and then click the related link. 2. Make sure that the BANK jurnal batch is selected. 3. In the Psting Date field, enter 01/30/

45 Mdule 6: Receivables and Payables Management: Payment Discunt and Payment Tlerance 4. In the Dcument Type field, click the drp-dwn list and select Payment. 5. In the Accunt Type field, click the drp-dwn list and select Custmer. 6. In the Accunt N. field, enter In the Amunt field, enter -63, On the Actins tab, click Apply Entries. 9. Select the line fr Dcument N On the Navigate tab, click Set Applies-t ID. Ntice that the Balance field at the bttm f the page cntains the 3.13 LCY difference. 11. Click OK t clse the Apply Custmer Entries page. 12. The Payment Tlerance Warning page appears, with the ptins f psting the difference as a payment tlerance r leaving it as a remaining amunt n the custmer accunt. T accept the tlerance, click the Pst the Balance as Payment Tlerance ptin. 13. Click OK t clse the Payment Tlerance Warning page. 14. On the Actins tab, click Pst. 15. Click Yes t pst the jurnal lines. 16. Click OK. 17. Click OK t clse the Cash Receipt Jurnal page. Demnstratin: Custmer Payment Discunt Calculated Incrrectly Scenari: On January 7, 2014, Arnie receives a payment f 66, LCY frm The Cannn Grup PLC, fr invice Hwever, the invice amunt is 67, LCY. Arnie reviews the pssible discunt amunts and ntices that, althugh the payment is received within the discunt perid, the amunt is calculated incrrectly. The Cannn Grup PLC has taken a tw and ne quarter percent discunt instead f tw percent. Hwever, because CRONUS Internatinal Ltd. has set up a three percent payment tlerance, this discunt is acceptable. 6-45

46 Finance Essentials in Micrsft Dynamics NAV 2013 T pst the payment by using the tlerance, fllw these steps. 1. In the Search bx, enter Cash Receipt Jurnals, and then click the related link. 2. Make sure that the BANK jurnal batch is selected. 3. In the Psting Date field, enter 01/07/ In the Dcument Type field, click the drp-dwn list and then select Payment. 5. In the Accunt Type field, click the drp-dwn list and then select Custmer. 6. In the Accunt N. field, enter In the Amunt field, enter -66, On the Actins tab, click Apply Entries. 9. Select the line fr Dcument N On the Navigate tab, click Set Applies-t ID. Ntice that the Balance field at the bttm f the page cntains the -1, LCY difference. 11. Click OK t clse the Apply Custmer Entries page. 12. The Payment Tlerance Warning page appears, with the ptins f psting the difference as a payment tlerance r leaving it as a remaining amunt n the custmer accunt. T accept the tlerance, click the Pst the Balance as Payment Tlerance ptin. 13. Click OK t clse the Payment Tlerance Warning page. 14. On the Actins tab, click Pst. 15. Click Yes t pst the jurnal lines. 16. Click OK. 17. Click OK t clse the Cash Receipt Jurnal page. Nte: Instead f handling the incrrect discunt amunt as a payment tlerance, yu can als change the Remaining Pmt. Disc. Pssible field n the custmer ledger entry fr invice Then, the access discunt amunt is handled as a regular discunt amunt and it is autmatically subtracted frm the initial amunt f the invice, and it psts n the Payment Discunt Accunts. 6-46

47 Mdule 6: Receivables and Payables Management: Payment Discunt and Payment Tlerance Demnstratin: Incrrect Ttaling f Tw Sales Invices Scenari: On January 30, 2014, Arnie receives a payment f 116, LCY frm the Jhn Haddck Insurance C. fr the fllwing invices: Dcument N , LCY Dcument N , LCY When Arnie psts the payment, he realizes that the payment is 2.97 LCY less than the ttal f the tw invices. Hwever, because this is within the payment tlerance range, he cntinues with psting t clse the entries. T pst the payment by using the tlerance, fllw these steps. 1. In the Search bx, enter Cash Receipt Jurnals, and then click the related link. 2. Make sure that the BANK jurnal batch is selected. 3. In the Psting Date field, enter 01/30/ In the Dcument Type field, click the drp-dwn list and then select Payment. 5. In the Accunt Type field, click the drp-dwn list and then select Custmer. 6. In the Accunt N. field, enter In the Amunt field, enter -116, On the Actins tab, click Apply Entries. 9. Select the line fr Dcument N On the Navigate tab, click Set Applies-t ID. 11. Select the line fr Dcument N On the Navigate tab, click Set Applies-t ID. Ntice that the Balance field at the bttm f the windw cntains the 2.97 LCY difference. 13. Click OK t clse the Apply Custmer Entries page. The Payment Tlerance Warning page appears. 14. T accept the tlerance, select the Pst the Balance as Payment Tlerance ptin. 15. Click OK. 16. On the Actins tab, click Pst. 17. Click Yes t pst the jurnal lines. 6-47

48 Finance Essentials in Micrsft Dynamics NAV Click OK. 19. Click OK t clse the Cash Receipt Jurnal page. T review the psted entries, fllw these steps. 1. On the Receivables page, click Custmers. 2. Lcate and select custmer Click Ledger Entries. Ntice that the Remaining Amunt is zer fr: Dcument N Dcument N Payment line dated 01/30/10 4. Click the payment line and in the Hme tab, click Detailed Ledger Entries. 5. Review the entry lines: The first line is the Initial Entry f the payment and it cntains the payment amunt. The secnd line is the Payment Tlerance and it cntains the accepted payment tlerance amunt. The third line is the Applicatin and it cntains the net amunt f the tw lines that match the actual net amunt f the tw invices. 6. Clse the Custmer Ledger Entries windw. If the difference is nt psted as a payment tlerance, then the 2.97 LCY balance is displayed as a remaining amunt n the line fr invice because it is the last invice applied. Accept the tlerance t clse the invices and payment. Demnstratin: Adjust the Vendr Payment Amunt t Reflect a Payment Tlerance Scenari: Invice frm vendr 30000, ClWd Technlgies, psted n January 13, 2014, withut discunts. As f January 1, 2014, all invices receive a ne percent discunt if the invice is paid within 10 days. On January 21, 2014, the Suggest Vendr Payments reprt is run fr this vendr. Yu check the amunt t make sure that the discunt is taken and yu find that it is nt set up n the invice. Because the discunt amunt is within the tlerance, yu decide t change the amunt n the Payment Jurnal and accept the tlerance. 6-48

49 Mdule 6: Receivables and Payables Management: Payment Discunt and Payment Tlerance T suggest vendr payments with discunts, fllw these steps. 1. In the Search bx, enter Payment Jurnals, and then click the related link. 2. Make sure that the BANK jurnal batch is selected. 3. On the Navigate tab, click Suggest Vendr Payments. 4. Expand the Optins FastTab. 5. In the Last Payment Date field, enter 01/31/ Make sure that the Find Payment Discunts check bx is selected. 7. In the Psting Date field, enter 01/20/ In the Bal. Accunt Type field, click the drp-dwn list and then select Bank Accunt. 9. In the Bal. Accunt N. field, click the drp-dwn list and then select WWB-OPERATING. 10. In the Bank Payment Type field, click the drp-dwn list and then select Cmputer Check. 11. Expand the Vendr FastTab. 12. In the N. filter, enter Click OK. Ntice that the payment is fr the full amunt f the invice: 19, LCY. 14. Delete the ther lines frm the jurnal. 15. In the Amunt field, enter 19, and press TAB r ENTER. Yu will receive the Payment Tlerance Warning message. 16. T accept the tlerance, select the Pst the Balance as Payment Tlerance ptin. 17. Click OK. The amunt is changed t 19, LCY. When the payment is psted, the invice and the payment are clsed withut remaining amunts. 6-49

50 Finance Essentials in Micrsft Dynamics NAV 2013 Lab 6.4: Prcess a Custmer Payment Tlerance Scenari At the end f December 2013, custmer 20000, Selangrian Ltd., signed an agreement t receive a tw percent discunt n all payment received within eight days f the invice's Dcument Date. Befre the change culd be made n the Custmer Card, Dcument N psted. Yur first step is t add the fllwing t this invice: Discunt date f January 8, 2014 Discunt amunt f LCY On January 7, 2014, yu receive a payment f 37, LCY fr the invice, and this payment is within the discunt perid. Therefre, the discunt amunt taken ( LCY) is larger than the granted amunt ( LCY). Althugh the underpayment falls within the acceptable tlerance range, the accunting manager decides that the custmer is respnsible fr this difference because the custmer used a tw and ne quarter percent discunt instead f the allwed tw percent. Therefre, yu have t pst the payment with a remaining amunt. Later, yu will cntact the custmer fr an additinal payment and remind the custmer f the discunt terms. Review the psted custmer ledger entry fr the payment. Exercise 1: Prcess a Custmer Payment Tlerance Task 1: Prcess a Custmer Payment Tlerance High Level Steps 1. Fr custmer 20000, update the payment discunt date and the amunt as it is specified in the scenari. 2. Prcess the custmer payment as it is specified in the scenari. 3. Review the psted custmer ledger entry. Detailed Steps 1. Fr custmer 20000, update the payment discunt date and the amunt as it is specified in the scenari. a. On the Navigatin Pane, click Departments. b. Click Financial Management, click Receivables, and then click Custmers. c. Select custmer d. On the Navigate tab, click Ledger Entries. 6-50

51 Mdule 6: Receivables and Payables Management: Payment Discunt and Payment Tlerance e. Select the entry fr invice f. In the Pmt. Discunt Date field, enter 01/08/14. g. In the Remaining Pmt. Discunt Pssible field, enter h. Click OK t clse the Custmer Ledger Entries page. 2. Prcess the custmer payment as it is specified in the scenari. a. On the Navigatin Pane, click Departments. b. Click Financial Management, click Receivables, and then click Cash Receipt Jurnals. c. Make sure that the BANK jurnal batch is selected. d. In the Psting Date field, enter 01/07/14. e. In the Dcument Type field, click the drp-dwn list and select Payment. f. In the Accunt Type field, click the drp-dwn list and select Custmer. g. In the Accunt N. field, enter h. In the Amunt field, enter -37, i. On the Hme tab, click Apply Entries. j. Select the line fr Dcument N k. On the Hme tab, click Set Applies-t ID. Ntice that the Balance field at the bttm f the page cntains a difference f LCY. l. Click OK t clse the Apply Custmer Entries page. m. The Payment Tlerance Warning page appears. T decline the tlerance, click the Leave a Remaining Amunt ptin. n. Click Yes t clse the Payment Tlerance Warning page.. On the Actins tab, click Pst. p. Click Yes t pst the jurnal lines. q. Click OK. r. Click OK t clse the Cash Receipt Jurnal page. 3. Review the psted custmer ledger entry. a. On the navigatin pane, click Departments. b. Click Financial Management, click Receivables, and then click Custmers. c. Select custmer d. On the Navigate tab, click Ledger Entries. e. Select the entry fr invice Ntice that the remaining amunt is LCY and nt LCY. Because this is a partial payment, the payment discunt amunt is nt subtracted. 6-51

52 Finance Essentials in Micrsft Dynamics NAV 2013 Lab 6.5: Adjust the Vendr Payment Discunt Amunt Scenari An agreement t receive a tw percent discunt n all payment received within eight days f the invice's Dcument Date, is signed with vendr Befre the change is made n the vendr card, invice psts. Yur first step is t add the fllwing t this invice: Discunt date f January 23, 2014 Discunt amunt f LCY On January 21, 2014, yu run the Suggest Vendr Payments batch jb. Hwever, yu are ntified that the discunt is actually tw and ne-half percent, nt tw percent. Yu adjust the suggested payment amunt frm 15, LCY t the crrect amunt f 15, LCY and accept the payment tlerance warning. Exercise 1: Adjust the Vendr Payment Discunt Amunt Task 1: Adjust the Vendr Payment Discunt Amunt High Level Steps 1. Prcess the vendr payment as it is specified in the scenari. Detailed Steps 1. Prcess the vendr payment as it is specified in the scenari. a. On the Navigatin Pane, click the Departments buttn, click Financial Management, click Payables, and then select Payment Jurnals. b. Make sure that the BANK jurnal batch is selected. c. On the Navigate tab, click Suggest Vendr Payments. d. Expand the Optins FastTab. e. In the Last Payment Date field, enter 01/31/14. f. Make sure that the Find Payment Discunts check bx is selected. g. In the Psting Date field, enter 01/21/14. h. In the Bal. Accunt Type field, click the drp-dwn list and then select Bank Accunt. i. In the Bal. Accunt N. field, click the drp-dwn list and then select WWB-OPERATING. j. In the Bank Payment Type field, click the drp-dwn list and then select Cmputer Check. 6-52

53 Mdule 6: Receivables and Payables Management: Payment Discunt and Payment Tlerance k. Expand the Vendr FastTab. l. In the N. filter, enter m. Click OK. n. Select the payment jurnal line fr invice Ntice that the payment is fr the incrrect discunted amunt f 15, LCY.. In the Amunt field, enter and press TAB r ENTER. The Payment Tlerance Warning page appears. p. T accept the tlerance, select the Pst the Balance as Payment Tlerance ptin. q. Click OK. Review the Psted Payment Discunt Tlerance and the Payment Tlerance Entries When users apply entries and pst balances as a payment tlerance r a payment discunt tlerance, the system psts a separate Detailed Custmer Ledger Entry with the tlerance amunt. The Entry Types fr the tlerance entries include the fllwing: Payment Discunt Tlerance: Cntains the discunt amunt that is allwed even thugh the payment discunt passed. Payment Tlerance: Cntains the underpayment r the verpayment amunt that is accepted t clse the applied entries. If Micrsft Dynamics NAV 2013 is set up t adjust VAT amunts fr payment discunts, the VAT amunts are als adjusted fr any tlerance that is allwed. Demnstratin: Review a Psted Custmer Payment Discunt Taken Past the Due Date T review the psted entries frm the Demnstratin: Custmer Payment Discunt Taken Past the Discunt Date, fllw these steps. 1. In the Search bx, enter Custmers, and then click the related link. 2. Lcate and select custmer On the Navigate tab, click Ledger Entries. 4. Lcate and select the ledger entry fr invice The Remaining Amunt is zer. 5. On the Navigate tab, click Applied Entries. 6-53

54 Finance Essentials in Micrsft Dynamics NAV 2013 The crrespnding payment line dated 01/10/14 is shwn. 6. On the Navigate tab, click Detailed Ledger Entries. 7. Review the lines, and ntice the values in the Entry Type field: The first line is the Initial Entry f the payment and it cntains the payment amunt. The secnd line is the Payment Discunt Tlerance and it cntains the accepted payment discunt amunt. The third line is the Applicatin and it cntains the net amunt f the tw lines that match the invice ttal. 8. Click Clse t clse the Detailed Cust. Ledg. Entries page. 9. Click Clse t clse the Applied Custmer Entries page. 10. Click OK t clse the Custmer Ledger Entries page. If the difference is nt psted as a discunt tlerance, then the 1, LCY balance is displayed as a remaining amunt n the invice line. Accept the late payment discunt t clse the invice and payment. Demnstratin: Review a Custmer Payment Discunt Calculated Incrrectly T review the psted entries frm the Demnstratin: Custmer Payment Discunt Calculated Incrrectly, fllw these steps. 1. On the Receivables page, click Custmers. 2. Lcate and select custmer Click Ledger Entries. 4. Ntice that the Remaining Amunt is zer fr: Dcument N Payment line dated 01/07/10 5. Click the payment line and then click Detailed Ledger Entries. 6. Review the lines, and ntice the values in the Entry Type field: The first line is the Initial Entry f the payment and it cntains the payment amunt. The secnd line is the Payment Tlerance and it cntains the payment tlerance amunt f the additinal discunt taken. The third line is the Payment Discunt and it cntains the riginal payment discunt amunt. The furth line is the Applicatin and it cntains the net amunt f the three lines that match the invice ttal. 7. Clse the Custmer Ledger Entries and Custmer Card windws. 6-54

55 Mdule 6: Receivables and Payables Management: Payment Discunt and Payment Tlerance If the difference is nt psted as a payment tlerance, then the 1, LCY is displayed as a remaining amunt n the invice line. Accept the tlerance t clse the invice and payment. Review Custmer and Vendr Statistics T btain an verview f the payment tlerance that is allwed ver time fr a specific custmer r vendr, statistics prvide peridic and cumulative ttals in relatin t the payment amunts, in the lcal currency (LCY). T view a custmer's statistics, fllw these steps. 1. In the Search bx, enter Custmers, and then click the related link. 2. Lcate and select the custmer t review. 3. On the Navigate tab, click Statistics. 4. Expand the Sales FastTab. The fields related t discunts and tlerances are as fllws: Pmt. Discunts (LCY) Cntains the LCY value f the discunts that are taken n r befre the Pmt. Discunt Date. Pmt. Disc. Tl. (LCY) Cntains the LCY value f the discunts that are taken after the Pmt. Discunt Date but within the payment discunt grace perid. Pmt. Tlerances (LCY) Cntains the LCY value f underpayments and verpayments that are accepted in relatin t the custmer. 5. Click Clse t clse the Custmer Statistics windw. 6-55

56 Finance Essentials in Micrsft Dynamics NAV 2013 Mdule Review Mdule Review and Takeaways Yu can use a payment discunt in sales and purchases t keep track f granted payment discunts and t autmatically prcess payments with discunts. Yu can use a payment discunt tlerance and a payment tlerance in sales r purchases t set up tlerance parameters t autmatically prcess payment differences. Hwever, yu can still intervene and decide n the mst suitable apprach based n each case. Test Yur Knwledge Test yur knwledge with the fllwing questins. 1. On the General Ledger Setup windw, what check bx must cntain a check mark s that yu can enter payment discunt accunts in the Custmer Psting Grups windw? ( ) Adjust fr Payment Disc. ( ) Pmt. Disc. Incl. VAT ( ) Pmt. Disc. Excl. VAT ( ) Use Payment Disc. 2. On the General Ledger Setup windw, what check bx must cntain a check mark s that yu can enter payment discunt accunts in the General Psting Setup windw? ( ) Adjust fr Payment Disc. ( ) Pmt. Disc. Incl. VAT ( ) Pmt. Disc. Excl. VAT ( ) Use Payment Disc. 3. What d yu select in the Payment Terms windw, t grant a payment discunt f three percent if payment is received within ten days f the dcument date? ( ) Enter D10 in the Discunt Date Calculatin field, and 3 in the Discunt % Field. 6-56

57 Mdule 6: Receivables and Payables Management: Payment Discunt and Payment Tlerance ( ) Enter 10D in the Discunt Date Calculatin field, and 3 in the Discunt % Field. ( ) Enter 10D in the Discunt Date Calculatin field, and.03 in the Discunt % Field. ( ) Enter D10 in the Discunt Date Calculatin field, and.03 in the Discunt % Field. 6-57

58 Finance Essentials in Micrsft Dynamics NAV 2013 Test Yur Knwledge Slutins Mdule Review and Takeaways 1. On the General Ledger Setup windw, what check bx must cntain a check mark s that yu can enter payment discunt accunts in the Custmer Psting Grups windw? ( ) Adjust fr Payment Disc. ( ) Pmt. Disc. Incl. VAT ( ) Pmt. Disc. Excl. VAT ( ) Use Payment Disc. 2. On the General Ledger Setup windw, what check bx must cntain a check mark s that yu can enter payment discunt accunts in the General Psting Setup windw? ( ) Adjust fr Payment Disc. ( ) Pmt. Disc. Incl. VAT ( ) Pmt. Disc. Excl. VAT ( ) Use Payment Disc. 3. What d yu select in the Payment Terms windw, t grant a payment discunt f three percent if payment is received within ten days f the dcument date? ( ) Enter D10 in the Discunt Date Calculatin field, and 3 in the Discunt % Field. ( ) Enter 10D in the Discunt Date Calculatin field, and 3 in the Discunt % Field. ( ) Enter 10D in the Discunt Date Calculatin field, and.03 in the Discunt % Field. ( ) Enter D10 in the Discunt Date Calculatin field, and.03 in the Discunt % Field. 6-58