Perform Accounts payable daily procedures in Dynamics 365 Finance

Module
17 Units

Intermediate

Business User

Functional Consultant

Dynamics 365

Finance

Purchasing goods for resale or as materials for manufacturing or services is a large responsibility. Tracking those purchases and paying the vendors that supply the goods is just as challenging. Organizations must monitor accounts payable closely and implement procedures so management can easily obtain the financial information that they need to have to stay informed about changes in the costs of goods. To give an accurate view of the financial condition of the business, all expenses that affect net profit are included in accounts payable.

Learning objectives

In this module, you will learn how to:

Record invoices and process payments.
Manage and apply prepayments.

Prerequisites

Basic understanding of finance and accounting processes
A general understanding of purchase order invoicing
The ability to use Finance for basic processing

Introduction min
Understand invoice types in Accounts payable min
Incoming invoice payments min
Record vendor invoices min
Process accounts payable credit memos min
Process purchase orders and purchase order invoices min
Periodically recurring invoices min
Modify due dates and discount dates min
Work with cash discounts from vendors min
Create vendor payments min
Reverse a vendor payment min
Manage prepayments and prepayment invoices min
Exercise - Record an invoice min
Exercise - Record a vendor invoice that is not associated with a purchase order min
Exercise - Process a vendor payment by using a payment journal min
Check your knowledge min
Summary min