(EEUR) Activate storno accounting [AX 2012]

Updated: February 4, 2014

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

Use these procedures to set up storno accounting in Microsoft Dynamics AX. In storno accounting, you reverse the sign on amounts to reverse incorrect original transactions. For example, the following transactions are incorrectly recorded.

Description

Debit

Credit

Sales revenue

100.00

Accounts receivable

100.00

To reverse the transactions and post the reversing transactions as storno transactions, you enter the following information.

Description

Debit

Credit

Sales revenue

-100.00

Accounts receivable

-100.00

Each reversing transaction appears in the same debit or credit column as the original transaction. By keeping amounts in their original columns and reversing the sign on the amounts, you effectively “zero out” the original transaction.

After you complete the following procedure, Microsoft Dynamics AX automatically creates transaction reversals as storno transactions.

You must activate storno accounting in General ledger before you can set up storno parameters in any module.

  1. Click General ledger > Setup > General ledger parameters.

  2. In the Ledger area, on the Accounting rules FastTab, in the Transaction reversal field group, select the Correction check box.

After you activate storno accounting in General ledger, you can set up parameters in the application modules. The parameters that are specific to a module typically use storno accounting by default for various processes in the module. You can change the default setting when it appears in a form. However, the setting does not appear in all forms. Some forms always use the default setting during processing, and you cannot change the setting.

  1. Click Accounts payable > Setup > Accounts payable parameters.

  2. In the Invoice area, in the Invoice field group, select the Credit note as correction check box. By default, credit notes are now posted as storno transactions.

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

  2. In the Updates area, in the Advance invoice field group, select the Credit note as correction check box. By default, credit notes for advance invoices are now posted as storno transactions.

  3. Select the Reversal as correction check box. By default, reversals for advance invoices are now posted as storno transactions.

  4. In the Invoice field group, select the Credit note as correction check box. By default, credit notes for invoices are now posted as storno transactions.

  1. Click Inventory management > Setup > Inventory and warehouse management parameters.

  2. In the General area, in the Correction field group, select the Inventory adjustment – correction check box. By default, adjustments to inventory are now posted as storno transactions.

  1. Click Project management and accounting > Setup > Project management and accounting parameters.

  2. In the General area, in the Adjustment field group, select the Adjustment of project transactions – correction check box. By default, adjustments to project transactions are now posted as storno transactions.

  3. In the Journals area, in the Ledger posting field group, select the Negative transactions – correction check box. By default, project journal entries that have a negative cost amount are now posted as storno transactions.


Announcements: To see known issues and recent fixes, use Issue search in Microsoft Dynamics Lifecycle Services (LCS).

Community Additions

ADD
Show: