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99 - Cash Receipts in Dynamics NAV 2018 Pt. 2


99 - Cash Receipts in Dynamics NAV 2018 Pt. 2        

I’m gonna keep going on the cash receipts, in the previous video, we showed how to apply a cash receipt on a customer ledger entry. But now I’m actually gonna take a look at how we can get a cash receipt into the system so, I’m logged in here as the accounting manager and this might be a little confusing with NAV and it's just to the fact that inside NAV we can do things sometimes in multiple ways and it's up to the comfort level of the user what they pick.

To actually post something or posting a cash receipt in NAV there are several ways. The most direct ways are using the cash receipt journal, so you can see here I have edit cash receipt journals o a deposit. In this video I’m gonna actually focus on the cash receipt journals, just do one, and show you how that works.

How we can get a cash receipt into the system
If I click on the cash receipt journals, I get into a journal like a form. Just simple journal, like if used for any other transactions, and in here I can actually just go in and say that this is a payment, we are getting paid from a customer, I am going to pick the Cannon group.

Just payments of invoice, let's say its a check, we have to put in negative, so paying -10,000 because its gonna reduce the asset we have with the customer and increase the asset, the credit customer bank account. So the balancing account here it's automatically set up to be a bank account, that comes from actually the general journal batch bank so, here we can set up that the balancing account is bank account always etc.

Every single line that I’m actually typing in here, will automatically populate with that, and you setup which bank account so, you can have the batch for a certain bank account, so all the cash receipts that are coming in for that batch are gonna go for that bank account. Here we have that, now this is just one check

What's important is that you want to add a column in here it's not standard setup, which is called external document number and you can quickly throw that in here, and it will pop up, so here what you can do is actually put the reference number and I like to put the check number here, you can say this is check number 561.

Apply a payment to a transaction
Now when you apply this payment to a transaction, there are two ways to do that, there are always multiple ways, if this goes straight to one invoice, I can just go here apply to document type, pick invoice and then just look up the open invoices or the open transactions for the customer.

We saw last time, you can see its a similar application form and we had previously seen. But in this case it's a little bit complicated, I’m actually gonna split the applications 50/50 between the invoices, let's do the more complicated one. So I actually take this out and I go up here, so if I need to do multiple ones I go into the apply entries.

I get a similar screen except now I have applies to ID on the side, and I'm gonna go ahead and set the app to ID here and it does put in the document number for the transaction so that's how it identifies the applications, it does that automatically as I click that set to applies, here I see a month to apply and it takes the entire invoice, I’m actually gonna change that to 5,000 and then if I go to the next one here, set app to ID and I’m gonna set that to 5,000, Alright.

So you have other things in here of course payment discounts, if you pay in time you can see how payment discount is possible, not possible; that's almost a subject for a different video; but that comes in the application so if you have payment discount on something, it makes a differences when you apply this because you have to get in for the date of the payment discount.

For example, we are not getting apply payment discount because the payment discount date is the 8th and we are actually putting this on the 18th, actually we do get payment discount here but we might have to have a complete payment which we don't have; in any case that's a separate video; so well leave that for that;

Now I’ve actually applied this and I can just go ahead and post the journal lines and now it's gone so, If I actually go back here into customers and take a look at the cannon group so, ledger entries, I can see that this payment came in of 10,000 and it’s been applied to the other invoices, that has reduced that so you can actually see that the 52,000 in here is now 47,000 and the 97,000, 92,000.Another way that you can see that also, is over here you see applied entries, if I click on that, I can see which entries we applied it to, and there's also a link up here for that. 

So that was a cash receipt journal, one way of actually receive receipts or cash receipts. We’ll jump into deposits next time just to give you a comparison

 

 

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