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Post prepayment journal vouchers to prepayment accounts [AX 2012]

Updated: September 12, 2011

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

Accounting practices in many countries/regions require that prepayment journal vouchers, or payments in advance, from a customer or to a vendor not be posted to the usual summary accounts for the customer or vendor. Instead, these prepayment journal vouchers must be posted to special ledger accounts for prepayment journal vouchers. When a sales order or purchase order is made, an invoice is issued to the customer or vendor. When the invoice is paid, the prepayment journal voucher and sales tax prepayment journal voucher on the ledger accounts for the prepayment journal vouchers are reversed. The invoice amounts are then automatically posted to the usual summary accounts.

NoteNote

For more information about prepayments and prepayment journal vouchers, see About prepayments and prepayment journal vouchers.

  1. Click Accounts receivable > Setup > Accounts receivable parameters.

    –or–

    Click Accounts payable > Setup > Accounts payable parameters.

  2. Click Ledger and sales tax.

  3. If sales tax is calculated and posted when you post a prepayment journal voucher, select the Sales tax on prepayment journal voucher check box.

  4. In the Posting profile with prepayment journal voucher field, select a posting profile to indicate the accounts to which the prepayment journal voucher and sales tax prepayment journal vouchers are posted. The posting profile that you select in this field must include a summary account for prepayment journal vouchers. If the Sales tax on prepayment journal voucher check box is selected, the posting profile must also include a ledger account for sales tax prepayment journal vouchers.

  1. Click Accounts receivable > Journals > Payments > Payment journal.

    –or–

    Click Accounts payable > Journals > Payments > Payment journal.

  2. Create a journal.

  3. On the Setup tab, select the Amounts include sales tax check box if you want to post the prepayment journal voucher together with sales tax amounts.

  4. Click Lines, and then create the payment line.

  5. On the Payment tab, select the Prepayment journal voucher check box. The posting profile changes automatically to the posting profile for the prepayment journal voucher.

  6. Post the prepayment journal voucher.

  1. Click Accounts receivable > Journals > Payments > Payment journal.

    –or–

    Click Accounts payable > Journals > Payments > Payment journal.

  2. Click Lines, and then click Functions > Settlement.

  3. In the Settle open transactions form, settle the invoice with the prepayment journal voucher.

    NoteNote

    If you select a prepayment journal voucher for the invoice settlement, you receive a message that the marked payment transaction is a prepayment journal voucher.

The settlement of the invoice reverses the transactions in the summary account and in the sales tax prepayment journal vouchers of the prepayment journal voucher posting profile. At the same time, a payment transaction settles the invoice and posts the amounts to the ledger accounts of the standard posting profile for the customer or vendor.

Date

Action

Sales account

Sales tax account

Customer account

Received prepayment journal voucher

Bank

Sales tax offset account of the prepayment journal voucher

Not applicable

Prepayment journal voucher

Not applicable

-25

Not applicable

-125

125

25

October 31, 2011

Invoice

-100

-25

125

Not applicable

Not applicable

Not applicable

October 31, 2011

Settle prepayment journal voucher

Not applicable

25

-125

125

Not applicable

-25


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