Export (0) Print
Expand All

Set up postdated checks [AX 2012]

Updated: July 31, 2013

Applies To: Microsoft Dynamics AX 2012 R3, Microsoft Dynamics AX 2012 R2, Microsoft Dynamics AX 2012 Feature Pack, Microsoft Dynamics AX 2012

This topic explains how to specify whether to post journal entries for postdated checks and which posting journals to use for clearing entries and vendor payments. You can also specify clearing accounts for issued checks, received checks, and withholding tax. Postdated checks are checks that are issued to make and receive payments on a future date. You can specify whether the check must be reflected in the accounting books before its maturity date. Before you set up postdated checks, make sure that the Postdated checks configuration key is selected in the Configuration form.

Complete the following tasks before you use postdated checks:

  • Set up postdated checks parameters.

  • Set up a method of payment for postdated checks.

Use the Cash and bank management parameters form to set up postdated checks. For more information, see Cash and bank management parameters (form).

  1. Click Cash and bank management > Setup > Cash and bank management parameters.

  2. Click the Postdated checks link.

  3. Select the Enable postdated checks check box.

  4. Select the Post journal entries for postdated checks check box to post the financial transactions to clearing accounts for vendors and customers. This field is available only if you select the Enable postdated checks check box.

  5. In the Clearing account for issued checks field, select a clearing account for checks issued to vendors. This field is available only if you select the Post journal entries for postdated checks check box.

    A clearing account is a temporary account that contains the amounts in the postdated checks.

  6. In the Clearing account for received checks field, select a clearing account for checks that are received from customers. This field is available only if you select the Post journal entries for postdated checks check box.

  7. In the General journal for clearing entries field, select the journal to use to settle postdated check transactions. This field is available only if you select the Post journal entries for postdated checks check box.

  8. In the Transfer postdated checks to this vendor payment journal field, select the vendor payment journal that the postdated check transactions are transferred to.

  9. In the Withholding tax clearing account field, select a clearing account that the withholding tax for vendors is posted to.

Use the Methods of payment - vendors and Methods of payment - customers forms to set up a method of payment for postdated checks. For more information, see Methods of payment - vendors (form) and Methods of payment - customers (form).

  1. Click Accounts payable > Setup > Payment > Methods of payment.

    -or-

    Click Accounts receivable > Setup > Payment > Methods of payment.

  2. In the Method of payment field, enter the method of payment for a customer or a vendor. For more information, see Set up a method of payment for checks.

  3. In the Account type field, select Bank.

  4. In the Payment account field, select the bank account that is used to deduct the invoice amount.

  5. Select the Postdated check clearing posting check box to indicate that the check amount is posted to a clearing account. (Select the clearing account in the Clearing account for issued checks or Clearing account for received checks field in the Cash and bank management parameters form.) The Bridging posting check box is selected.

    A bridging account or a clearing account is a temporary account that is used to post a transaction until the transaction is reconciled.


Announcements: To see known issues and recent fixes, use Issue search in Microsoft Dynamics Lifecycle Services (LCS).
Was this page helpful?
(1500 characters remaining)
Thank you for your feedback

Community Additions

ADD
Show:
© 2014 Microsoft