Found a typo in 2. Learn the fundamentals of Microsoft Dynamics 365 Finance Accounts Receivable section

Question

I found a typo in the above referenced section. This section should say from not to when defining Accounts receivable. The funds come to the business from the customer, not the other way around

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Answer 1

Hi Beth Reed,

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Answer 2

Hi Beth Reed,

Thank you for posting your question in the Microsoft Q&A forum and I appreciate your attention to this matter.

Accounts Receivable (AR) represents the amount of funds owed to a company for products or services that have been delivered and invoiced. The total value of all accounts receivable is recorded on the balance sheet under current assets. AR is used to track customer invoices and incoming payments. Customer invoices can be created based on sales orders or packing slips, or as free text invoices if they are not related to sales orders. Payments can be received through various methods, including bills of exchange, cash, checks, credit cards, and electronic payments.

Use Case: As an Accounts Receivable Manager, you are responsible for recording all receivable transactions, such as customer invoices and vendor returns, in your ledger. The Accounts Receivable module facilitates the settlement of all receivables through payment transactions and supports various payment methods, payment terms, cash discount rules, payment schedules, and calendars.

The document correctly states that funds come from the customers, not to them, which accurately reflects the accounts receivable process. Additionally, the document outlines various payment methods, payment terms, cash discount rules, and payment schedules, providing a comprehensive view of how receivables are managed and processed in line with accounting standards.