CUSTOMER PREPAYMENT IN AX 2012

Under this chapter, we will see how to book the advance payment received from the Customer through Prepayment functionality and adjust it against a Sales Order Invoice.

Step 1: View the Customer balance

Navigation: Accounts Receivable > Common > Customers > All Customers

• Select the respective Customer Account
• Click on “Balance” button to view the Customer Balance

• You can view the balance for the Customer is Nil

Step 2: Create Posting Profile

Navigation: Accounts Receivable > Setup > Customer Posting Profile

• Create New
• Specify Posting profile Name and Description
• Under the Setup tab – provide the respective ledger accounts
• Save and close the form

Step 3: Setup Prepayment in Parameters

Navigation: Accounts Receivable > Setup > Accounts Receivable Parameters

• Under the Ledger and Sales Tax
• Expand the Payment tab
• Enable the “Sales tax on prepayment journal voucher” to apply sales tax for advance payments
• Select the Posting Profile as “PRE” from the drop down in the “Posting profile with prepayment journal voucher
• Save and close the form

Step 4: Create a Payment Journal

Navigation: Accounts Receivable > Journals > Payments > Payment Journal

• Click on New button
• Select the Name
• Then click on Lines button

• Enter the lines in the “Overview” tab
• The click on the “Payment” tab
• Select the “Prepayment journal voucher” check box
• Once you enable the check box, the Posting profile gets changed to “PRE”
• Validate and Post the Journal

Step 5: Check the Customer Balance

Navigation: Accounts Receivable > Common > Customers > All Customers

• Select the respective Customer Account
• Click on “Balance” button to view the Customer Balance
• You can view the balance as -2000 USD

Step 6: Create a Sales Order and apply the Payment to it

Navigation: Sales and Marketing > Common > Sales orders > All Sales orders

• Under the Sales order tab
• Click on Sales Order
• Select the Customer Account
• Click on OK

• Enter the Sales line details, the Net amount for this Sales Order isUSD 10000
• Confirm the Sales order and also complete the remaining steps such Pick and Pack
• Then click on Invoice tab to apply the advance payment and complete the sales order

• Under the Invoice tab, Click on Open transactions settle

• A new form opens showing the Prepayment amount which was raised for USD 2000
• Select the Mark check
• Click Yes in the dialog box to apply the prepayment
• Close the form

• Click on Invoice button to Post the Invoice

• Select “All” in the Quantity under the head Parameter
• Click on OK

Step 7: Now verify the Customer Net Balance

Navigation: Accounts Receivable > Common > Customers > All Customers

• Select the respective Customer Account
• Click on “Balance” button to view the Customer Balance
• So it’s showing as USD 8000
• Click on Transactions button to view the entries posted

• Transactions posted for the Customer Account