In this module, you learned about payment options in Dynamics 365 Finance, and examined how flexible they are in accommodating different business processes.

By using the Accounts receivable module in Finance, you can do the following tasks:

  • Define terms based on:
    • The number of months or days
    • A current period (for example, current month or current quarter), with or without additional months or days
  • Set up terms of payment for a cash payment so that the payment posts automatically when you issue the invoice.
  • Set up advanced payment schedules and use them as terms of payment based on many factors, including:
    • Percentage allocation of the actual invoice amount
    • Allocation based on a fixed number of installments
    • Combined amounts and percentages of the invoice amount
  • Set up cash discounts based on a current period or a number of net days. If you require cash discounts, you can set them up as multiple (for example, ten days 3 percent and 30 days 1 percent).
  • Manage the cash discount with or without sales tax to comply with tax legislation in various countries or regions.

You can also group customers to categorize information so that it is meaningful.

By grouping customers, you can:

  • Set up automatic posting rules for customer transactions to ensure that the transactions affect the correct accounts.
  • Become aware of situations and trends more quickly by grouping customers who have a common identifier that enables you to view and analyze financial results in more detail. For example, you can group customers by the types of products you sell to them or by the dollar.

Additionally, this module showed you how to configure the Accounts receivable module, create and maintain a customer, configure customer payments, set up customer posting profiles, and configure accounts receivable charges.