1 Microsoft ® Business Solutions–Axapta ® Axapta Training – Accounts Payable Phase 1

2 Vendor master Vendors are used to create, maintain and inquire about vendors. The base data is automatically displayed as the default for all activities involving the vendor. Before using the vendor table, make sure that you have specified a group for each vendor. Accounts payable > Vendors

3 Exercise We are going to purchase something from a new vendor. Create new vendor with the following details: Vendor name : PT Surya Global Vendor group : DOM Currency : EUR Terms of payment : M15 Methods of payment : cheque EUR Address : Jl. Raya Serang Indonesia No Sales tax

4 Invoice journal You can create invoice without purchase order. The invoices are by default approved by the user who is logged in and who enters the journal lines. Validate and post the lines after entering the necessary information. Now the invoices are ready for payment Accounts payable > Journals > Invoices > Invoice journal

5 Exercise You have just received an invoice from PT Surya Global. Invoice number is SG-001, dated 1/1/2005. Terms of payment = M15. Invoice amount = EUR 250. Transaction text = Pembelian baju seragam. Offset (Office supplies expense) Check the journal voucher created and vendor balance and vendor open-transaction editing

6 Invoice register The purpose of the invoice register journal is to pre- register invoices when they arrive to the company. In this journal, an employee registers the vendor account, the invoice number, the amount, and the person who is going to approve the invoice. The same employee validates and posts the journal to the accounts specified. Accounts payable > Journals > Invoices > Invoice register

7 Exercise You have just received a net of tax invoice from PT Surya Global which requires approval from AJE (your finance and accounting manager). Invoice number is SG-002, dated 1/1/2005. Terms of payment = M15. Invoice amount = EUR Transaction text = Pembelian supplies kantor. Register and post the Check the voucher in the Inquiries > Vouchers window

8 Invoice approval journal The lines posted in the invoice register are transferred to the invoice pool and the physical invoices are given to the person who must approve them. The person approves – with a signature or a stamp – and returns the invoices to the accounting department. When they return, the accountants register the approvals in the invoice approval journal and post them. After that, the invoices is ready to be paid, and the amounts are posted to the real cost accounts Accounts payable > Journals > Invoices > Invoice approval journal

9 Exercise Create invoice register for invoice SG-003 from PT Surya Global on 1/1/2005. It is for purchase of Office stationaries. The invoice amount EUR 1,000. Net of tax. Approver = AJE. Create invoice approval journal for invoice SG-003 from PT Surya Global. It is for purchase of Office stationaries. Debit EUR 1,000 to (Office supplies expense) to the journal after your fetch the invoice voucher Post the journal and check the created voucher

10 Invoice register excluding posting The invoice register excluding posting is another type of journal available in the accounts payable module. Using this represents another procedure for handling incoming invoices, although it is similar to the invoice register with posting. The difference is that you cannot post the lines – they go directly into the invoice pool. In order to post the lines, create a new invoice journal, and click Functions. From here, select Invoice pool and accept the individual invoices in the pool after approving them Accounts payable > Journals > Invoices > Invoice pool excl. posting Accounts payable > Journals > Invoices > Invoice journal > Functions > Invoice pool

11 Exercise Create invoice pool excl. posting journal for invoice SG- 004 from PT Surya Global on 1/1/2005. It is for purchase of Office stationaries. The invoice amount EUR 1,500. Net of tax. It is for purchase of office supplies (60630). Approved by AJE. Payment due date 2/16/2005 Create and post Invoice journal for invoice SG-004 from PT Surya Global by fetching the invoice pool.

12 Working with Payments Make vendor payments in the Payment journal in Accounts payable module. The advantage of using the Payment journal in Accounts payable is that this journal only contains the fields important for entering the payment. You can pay in other currency You can pay not in full and outstanding invoice will automatically calculated Accounts payable > Journals > Payment > Payment journal

13 Exercise Create and post a payment journal for PT Surya Global on 15, February And check vendor balance and voucher created. Check also vendor closed-transaction for editing

14 Exercise Make a partial payment to vendor Select one of the outstanding invoices and pay half in amount and then post

15 Exercise Make payment journal to vendor 3000 without selecting any open invoices, payment amount EUR Settle in the Vendor open-transaction editing

16 Payment by check In the payment journal window, click Functions > Generate payment. Select the check number that you will use. This will ask you to print the check. Accounts payable > Journals > Payments > Payment journal > Functions > Generate payments

17 Exercise Pay one of the open invoices using check for PT Surya Global using bank account BCA-EUR

18 Terms of payment Define all the terms of payment used by your company accounts and by vendors. A term of payment is used for calculation of due date based on the date of the invoice. Accounts payable > Setup > Payment > Terms of payment

19 Exercise §Create the following terms of payment code with the following rules and try it by posting the invoice journal. Invoice date is 1/1/2005 for all of the journal transaction below (offset 60630), journal amount EUR 1000: TOP10dWe pay after 10 days of invoice date TOPMWe always pay at the end of each month from invoice date §Create invoice journal using terms of payment = Cash. See whether accounts payable is recorded or not

20 Payment schedule Set up payment schedules to let your company pay their invoices in installments. To set up a payment schedule, define the following Number of installments Amount of each installments Due date of each installments

21 Exercise Create payment schedule for 5 times installments. Payment schedule code 5Times (using fixed quantity in the payment schedule setup) Record invoice SG-005 in invoice journal with amout net tax EUR 2000 from PT Surya Global on 1/1/2005 Reorganize your open invoice in the open-transaction editing and select 5Times

22 Methods of payment In the methods of payment table, you specify all the methods of payment that your company uses to pay its vendor. For each method of payment, you must enter information that tells the system how payments should be summarized and posted You can specify method of payment for each vendors table. That method of payment will be used when you enter transactions in the payment journals

23 Exercise Check vendor balance before invoice On June 22, 2005, you just receive one invoice from Electro-House (Vendor 3000) for puchase of office lamps for meeting room. Invoice# = INV Terms of payment = 3 days (D3) Create invoice journal using general journal for this vendor Offset account = (Office supplies expense) Invoice amount = EUR 10,000 Check vendor balance after invoice

24 Review exercise Create a new vendor PT Suka karya, currency EUR, vendor group = Local. For Local vendor, payable will go to (AP local) Setup cash discunt SKDisc (Suka Karya cash discount): 10 days 5% 15 days 2% Setup new Terms of payment EOM where we pay this vendor always by the end of this month. We have done the following transactions: §1/1/2005, Receive invoice InvSK001, EOM, EUR 2,500, Cashdiscount SKDisc, No tax §1/2/2005, receive invoice InvSK002, EOM, EUR 5,000,Cashdiscount SKDisc, No tax §1/10/2005, Pay InvSK001, using Check, BCA-EUR §1/15/2005, Receive invoice InvSK003, EUR 1,000, Pay by cash §1/16/2005, Receive information from bank BCA that our check dated 1/10/2005 for payment of invoice InvSK001 is cancelled How much do we owe PT Suka Karya?

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