Dynamics 365 Business Central
Category
Mar 27, 2024
Published date
Text
Article Type
AI Summary
- The article discusses the importance of managing sales prepayments for businesses seeking to optimize cash flow and maintain healthy customer relationships.
- Microsoft Dynamics Business Central, a comprehensive ERP solution, offers robust features that simplify the process of setting up and invoicing sales prepayments.
- The article provides a step-by-step guide on how to manage sales prepayments within Business Central, covering everything from configuring the general ledger to creating sales prepayment invoices.
- Sales prepayments are essential tools that help businesses maintain a steady cash flow and ensure they have the necessary funds to fulfill orders and deliver products or services.
- Using Business Central for sales prepayments provides real-time visibility into cash flow and outstanding prepayment balances, enabling businesses to make informed decisions and take necessary actions promptly.
- Sales prepayments can be managed as journals in simple accounting software, but larger companies require a comprehensive solution to maintain the link between the accounting side of prepayments and the customer service side.
- Prerequisites for setting up sales prepayments in Business Central include configuring number series for prepayments, setting up customer prepayment accounts, and applying prepayment percentages to items, customers, or sales documents.
- The process of managing sales prepayments in Business Central involves creating sales orders with prepayments, posting prepayment invoices, registering and applying payments to prepayment invoices, and fulfilling the order and posting the final sales invoice. The accounting side of sales prepayments includes general ledger and customer sub-ledger entries for prepayment invoices, as well as cash receipt and allocation entries for payments, and prepayment reversal entries for sales invoices.
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