Accounts Payable and Accounts Receivable

The Accounts Payable and Accounts Receivable modules within Microsoft Dynamics AX ERP solution are integrated with each other to create a seamless and user-friendly accounting system.

The Accounts Payable module allows tracking of all purchases and expenses. Set up vendor groups and payment options. Define cost parameters relating to vendors, purchase orders, discounts, supplementary items, deliveries, etc. Settle invoices, create and manage purchase orders and planned purchase orders with various journals.

The following Accounts Payable features are available in Microsoft Dynamics AX enterprise resource planning system:

• Bridge accounts with three-way matching.

• Allow for and set up price variances.

• Support flexible terms of payments and cash discounts for advanced payment schedules, promissory notes, and multiple payments.

• Use multiple invoice entry options for separate handling of approved and unapproved invoices.

• Match invoices to physical deliveries.

• Create import and export formats for electronic payments.

The Accounts Receivable module allows tracking of all sales and incoming payments from customers. Set up customer groups and payment options. Create interest notes and collection letters. Define parameters relating to customers, sales orders, prices, discounts, supplementary items, deliveries, etc. Settle customer invoices and make inquiries from all available data in the Accounts Receivable module.

The following Accounts Receivable features are available in Microsoft Dynamics AX enterprise resource planning system:

• Manage and collect for overdue transactions with a centralized collection management functionality.

• Calculate interest and generate collection letters.

• Define flexible terms of payments and cash discounts.

• Create payment proposals with adjustable payment options.

• Set up credit parameters and payment terms; handle prepayments.

• Authorize credit card payments.

• Handle multiple currencies with exchange rate adjustments.