(USA) Create a payment journal and validate the credit limit for a bank
Applies To: Microsoft Dynamics AX 2012 R3, Microsoft Dynamics AX 2012 R2, Microsoft Dynamics AX 2012 Feature Pack, Microsoft Dynamics AX 2012
Before you can make a payment to a vendor or customer, you must enter all necessary company, vendor, or customer bank account details. When you set up company, vendor, or customer bank accounts, you must enter a valid bank account number and routing number.
The bank account number must contain 7 to 14 digits. The length of the routing number is based on the routing type selected, as shown below:
Routing type |
Length |
|---|---|
FW (Fed Wire transfers) |
Nine digits |
CP (Chip Participant code) |
Six digits |
CH (Chip Universal identifier) |
Four digits |
Based on the cash credit or overdraft limit that the company has with the bank, you can set the credit limit in the Bank accounts form. You can also select the notifications to be displayed when you make a payment that exceeds the credit limit in the Bank parameters form.
Set up bank parameters
You can select the notification to be displayed when the payment transaction exceeds the cash credit or overdraft limit.
Click Cash and bank management > Setup > Cash and bank management parameters.
In the Bank credit limit tolerance field, select form the following options the notification to be displayed when the credit limit is reached:
None – If you have exceeded the credit limit, a notification is not displayed.
Warning – If you have exceeded the credit limit, a warning message is displayed when you post the payment journal.
Error – If you have exceeded the credit limit, an error message is displayed and you cannot post the journal.
Close the form to save your changes.
Set up a bank account credit limit
Use the Bank accounts form to enter a valid bank account number, routing type, and routing number, and enter your cash credit or overdraft limit for payment transactions.
Click Cash and bank management > Common > Bank accounts.
Click Bank account to open the Bank accounts form.
In the Bank account field, enter the unique bank account number. Enter the name of the bank in the Name field.
In the Routing number type field, select the routing number type as FW, CP, or CH.
In the Routing number field, enter the routing number for the bank. The routing number is validated based on the routing type selected.
In the Bank account number field, enter a bank account number that contains 7 to 14 digits.
In the Credit limit field, enter the credit limit. This is a negative number.
Close the form to save your changes.
Set up a bank account for a vendor or customer
Enter a valid bank account number, routing type, routing number, and other bank details for a vendor or customer account.
Click Accounts receivable > Common > Customers > All customers.
–or–
Click Accounts payable > Common > Vendors > All vendors.
Select a vendor or customer account, on the Action Pane, in the Setup group, click Bank accounts.
In the Bank account and Name fields, enter the unique ID that you use to identify the vendor or customer bank account and name of the bank.
In the Routing number type field, select the routing number type as FW, CP, or CH.
In the Routing number field, enter the routing number for the bank. The routing number is validated based on the routing type selected.
In the Bank account number enter a vendor or customer bank account number that contains 7 to 14 digits.
Close the form to save your changes.
Post a payment journal for a bank account
You can create a payment journal to record a fixed asset purchase, service purchase, expense transaction, vendor payment, or customer payment. The payment journal is posted only after the payment transaction is validated against the credit limit specified by the bank.
Click Accounts receivable > Journals > Payments > Payment journal.
–or–
Click Accounts payable > Journals > Payments > Payment journal.
Press CTRL+N to create a new journal.
In the Name field, select the journal name and click Lines to open the Journal voucher form.
In the Date field, select the transaction date.
In the Account field, select the general ledger, vendor, or customer account number.
In the Debit field, enter the amount to be paid.
In the Offset account type field, select Bank.
In the Offset account field, select the bank account number.
Click Post > Post to post the journal. If you have exceeded your credit limit, a message is displayed. If you specified the Bank credit limit tolerance field as Warning in the Bank parameters form, the journal is posted. If the Bank credit limit tolerance type field is specified as Error, the journal is not posted.
Close the form to save your changes.