BBCG.05.06.D365.2.PDF: Configuring Accounts Receivable within Dynamics 365 for Operations (Second Edition) - Module 6: Configuring Deduction Management (Digital)
The Waterdeep Trading Company is the purveyor of all the finest adventuring supplies to travelers, rogues, wizards, and clerics in all Faerûn and is headquartered in the great city of Waterdeep on the Sword Coast.
Recently they have been experiencing a huge upswing in the traffic through their store and have realized that the old quill and scroll-based financial system is not going to scale anymore. Their manual supply chain management processes that they are using will not handle their forecasted future demand.
As a result, they have taken the step to modernize their finance and supply chain systems and implement Microsoft Dynamics 365 to manage all their legal (and not so legal) entities. And the following is a journal of how they set up their system and how they tweaked the system to make it work perfectly. The Accounts Receivable area is one of the three foundation financial modules within Dynamics 365 that we will want to set up. It allows us to manage all our customer information, post our invoices, and receive in our cash payments and allows us to manage your collections, track deductions, and much more.
It's not hard to configure either. This module is designed to give us step-by-step instructions to show us how to configure the receivables area and how some of the basic transactions work to get us up and running and working with our customers. Unfortunately, customers don't always pay the amount that we ask them to, and tracking the discrepancies can be a chore because you may have given an incentive to the customer that they are taking as a valid deduction, the customer may be penalizing us for one reason or another, or they may be wrong. We don't want to have the invoices sitting out there waiting to be investigated and cluttering up the aging's, though, which is where the Deduction Management feature comes into play.
The Deductions Management function allows us to record deductions as we receive cash and close out the invoices. Then the deductions are set aside for someone to investigate them and decide if they are valid or not.
In this module, we will show how to set up and use the Deduction Management features.
- Configuring a Deduction Journal Name
- Configuring Trade Allowance Management parameters for Deductions
- Configuring Deduction Types
- Configuring Deduction Denial Reasons
- Configuring Deduction Write-Off codes
- Entering Customer Payments with Deductions
- Working with Deductions within the Deduction Workbench
Series: Dynamics Companions Bare Bones Configuration Guides
Guide: Configuring Accounts Receivable within Dynamics 365 Finance
Digital: 221 pages
Publisher: Blind Squirrel Publishing (March 2, 2021)
Product Dimensions: 8.5 x 11 inches
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