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Introduction When creating multiple payments in the payment journal you can have the system create one bank ledger entry per payment or alternatively one bank account ledger entry for the whole batch of payments. The decision as to whether to have one bank account ledger entry or multiple bank ledger entries is largely driven by…
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Introduction There might be occasions when you wish to write off the amount of an invoice. For example if a customer has underpaid and you don’t wish to leave the balance on the invoice. You can achieve this using a payment tolerance. Please note there’s an updated post here that shows under and over payments…
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As I’ve mentioned several times on my blog I originally come from a Dynamics GP background so making the transition to Dynamics 365 Business Central has been a real learning journey for me, and one that is still ongoing. Along the way I’ve managed to learn some important concepts which I hope to share in…
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Introduction When posting a payables invoice in Dynamics 365 Business Central you can specify payment discount that can be taken if the invoice is paid early. You define this using the option below Please note this can also be defaulted for you onto the purchase invoice from the payment terms on the vendor. However what…
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I came across an interesting situation today that I thought was worth documenting to see if there’s any known reason for this behaviour or if I’ve misunderstood something. I’m unsure if this is a software issue, or by design, however I noticed that even though I’d set the dimension value posting to “No Code” on…
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Introduction This is another blog in a series I’ve been writing comparing functionality in Dynamics GP to Dynamics 365 Business Central. In this post I’m looking at multi currency revaluation in Dynamics GP compared with adjust exchange rates in Dynamics 365 Business Central. Both routines perform the same task of revaluing foreign currency entries, and…
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I came across a situation where a user needed to post a credit card payment via a payment journal with a VAT element so I thought I’d document on my blog 🙂 In order to do this first create a Payment Journal batch with the relevant balancing account, in my case a credit card, and…
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Introduction This is another blog in a series I’ve been writing comparing functionality in Dynamics GP to Dynamics 365 Business Central. In this post I’m looking at account segments in Dynamics GP compared with dimensions in Dynamics 365 Business Central. The configuration of Dimensions and Account Segments can become quite a in depth subject, so…
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Introduction Its good practice to periodically reconcile the General Ledger control accounts to the sub ledgers. In this post I’ll highlight the reports and enquiries that can be used in Dynamics GP versus the reports and enquiries that can be used in Dynamics 365 Business Central to achieve this task. Dynamics GP On the General…
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Introduction Dynamics GP and Dynamics 365 Business Central both have great options to manage financial periods therefore controlling what date ranges users can post into. In this post I’ll explore how this is achieved in both products, and point out what I think are the key benefits of each solution. Dynamics GP In Dynamics GP…
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