Fields in Customer and Vendor Posting Groups in D365 Business Central - CloudFronts

Fields in Customer and Vendor Posting Groups in D365 Business Central

CUSTOMER POSTING GROUPS

Customer Posting Groups determines the account receivables account.

 1. In the search option, enter Customer Posting Groups and then choose related link.

2. In the Code Field, type unique identifier.

3. In the description field, type description of Customer posting group.

4. In each relevant account field, enter the G/L account  that will post the transaction accordingly.

Receivable Account: This is a summary account where all the entries from customers will end up in balance sheet.

Service Charge Account: This is a fee account where any fee you Charge to the customer when invoicing will end up here.

Payment Discount Dr. Account: This account represents cash discounts given to the customers, then the sum representing the difference in original amount and what they’ve actually paid. This will be in debit field.

Payment Discount Cr. Account: This account represents cash discounts given to the customers, then the sum representing the difference in original amount and what they’ve actually paid. This will be in credit field.

Interest Account: It is an account to which, if you issue reminders or finance charge memos with interest on them, this interest revenue will be posted to this account.

Additional Fee Account: This is where the reminder fees and finance charge momos will be posted when they are issued.

Add. Fee per line Account: This is where reminder account will be posted if you have a reminder amount on each line of your remainders.

Invoice rounding Account: This is where invoice rounding will be posted.

Debit Curr. Appln. Rndg. Acc/ Credit Curr. Appln. Rndg. Acc: Both accounts are same except one is Dr and other is Cr. This account is particularly used when you are applying an entry on your customers from different currencies. E.g. Invoice is in USD but payment is in EUROS, in this case rounding difference will be posted to this account.

Debit Rounding Account/ Credit Rounding Account: This is same as above mention field except the difference is of same currency and needed a slight adjustment. These accounts will therefore be used to Debit or Credit respectively. 

Payment tolerance Debit account/ Payment tolerance Credit account:  These accounts are used to have a payment tolerance towards customers.

e.g. If the customers is Invoiced USD 105 but customer pays only USD 100, and you have set a tolerance for 5USD which means the difference will be posted to these two accounts. 

Assign Customer Posting Groups to Customers

1. In the search option, enter Customers and then choose related link.

2. Open a Customer Card.

3. Expand Invoicing Tab, in Customer posting group field enter relevant details.

VENDOR POSTING GROUPS

Vendor Posting Groups determines the account payable account.

1. In the search option, enter Vendor Posting Groups and then choose related link.

2. In the Code Field, type unique identifier.

3. In the description field, type description of Vendor posting group.

4. In each relevant account field, enter the G/L account  that will post the transaction accordingly,

Payables Account: This is a summary account where all the transaction from vendors will end up in balance sheet.

Service Charge Account: This is a account where you can put any service charge that might come from the vendor.

Payment Discount Dr. Account: If you pay your vendor ahead to time and get a cash discount, a debit entry will end up in this account.

Payment Discount Cr. Account: This account represents cash discounts given to the customers, then the sum representing the difference in original amount and what they’ve actually paid. This will be in credit field.

Invoice Rounding Account: This account is used when an invoice from the vendor has to be rounded.

Debit Curr. Appln. Rndg. Acc/ Credit Curr. Appln. Rndg. Acc: This account is used when the different Currencies have to be applied to each other and rounding has to be carried out.

Debit Rounding Account/ Credit Rounding Account: This is used when you settle the outstanding amount in same currency but a little rounding off is to be done.

Payment tolerance Debit account/ Payment tolerance Credit account: These accounts are used to have a payment tolerance towards vendors.

Assign Vendor Posting Groups to Vendors

1. In the search option, enter Vendors and then choose related link.

2. Open a Vendor Card.

3. Expand Invoicing Tab, in Vendor posting group field enter relevant details.


Share Story :