- Microsoft Dynamics 365 Finance offers automatic prepayment functionality to simplify the payment process for vendor invoices.
- Prepayments are advance payments made to vendors tied to specific purchase orders.
- The system automatically applies prepayments to invoices upon receipt, streamlining the reconciliation process.
- The application of prepayments can vary depending on the arrangement of invoices and purchase orders.
- If automatic application fails, the system can be set to either hold the invoice pending manual application or continue processing without stopping other processes.
- Manual application of prepayments can be done by setting the invoice to manual processing and applying the prepayment.
- To bypass a prepayment entirely, the invoice can be temporarily set to manual processing and the prepayment can be ignored.
- The automatic application of prepayments improves financial management by reducing manual tasks, enhancing accuracy, and improving efficiency.
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