Reverse interest on customer transactions (form)
Applies To: Microsoft Dynamics AX 2012 R3, Microsoft Dynamics AX 2012 R2, Microsoft Dynamics AX 2012 Feature Pack, Microsoft Dynamics AX 2012
Click Accounts receivable > Common > Customers > All customers. Select a customer account. On the Action Pane, click the Collect tab, and then click Transaction interest > Reverse.
You can reverse, or roll back, the interest transactions that are part of interest notes. If you reverse interest, the amount is no longer due. You might reverse interest if, for example, the wrong interest rate was selected. You can then select a new interest rate and recalculate the amount that the customer owes. For more information, see Interest calculation (class form).
This form displays a list of interest transactions that were not previously reversed for the customer. You can select the Reverse check box for the interest transaction that you want to reverse. If you have to reverse multiple interest transactions, start with the most recent interest transaction.
When interest is reversed, a credit note, or adjustment invoice, is created for the customer. This is used to automatically settle the amount that is due. The amount that is reversed is the total interest, minus any previous payments by the customer. Any interest on transactions that were previously waived, written off, or reversed for the interest note, is also subtracted. For previously settled interest notes where a refund is due to a customer, you can convert the credit note to a vendor payment. You can then give a refund to the customer. For more information, see Reimburse customers.
When you reverse interest, a historical record is created that lists the user who made the adjustment, the date and time of the adjustment, and other details. To view this record, click History on the Collect tab on the All customers list page. For more information, see Interest note adjustment history (form).
Tasks that use this form
Waive, reinstate, or reverse interest or fees
Navigating the form
The following tables provide descriptions for the controls in this form.
Buttons
Button |
Description |
|---|---|
View interest note |
View the details of the interest note that the transaction is a part of. |
Reverse |
Reverse the selected interest transaction. You can reverse only one interest transaction at a time. If you have to reverse multiple interest transactions, start with the most recent interest transaction. |
Fields
Field |
Description |
|---|---|
Reverse |
Select the check box for the interest transaction that you want to reverse. |
Transaction |
The identifier for the interest transaction. |
Date |
The date of the interest transaction. |
Type |
The type of business document, such as a sales order, payment, invoice, or interest note. |
Start date |
The first date that is included in the interest note that this interest transaction is part of. |
End date |
The last date that is included in the interest note that this interest transaction is part of. |
Interest amount |
The amount of interest that is owed by the customer. |
Interest note |
The identifier of the interest note that this interest transaction is part of. |
Write off |
The amount of any charges that were previously written off for the customer. Writing off is a separate process that is used for bad debts. This process marks all customer transactions for settlement instead of only making adjustments to interest notes. For more information, see Collections and credit in Accounts receivable and Key tasks: Collections. |
Notes |
Optional: Enter notes about the action. |
See also
Interest note adjustment history (form)
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