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129 - Deposits: Easier Payment Registration in Dynamics NAV 2018


Deposits: Easier Payment Registration in Dynamics NAV 2018

We’ve been bouncing around a little bit, artificial intelligence and accounts subcategories, categories a lot of fun stuff but I want to kind of pull back a little bit and go back into bank reconciliations again. It's just one thing that I kind of didn't look into in detail and now realizing it's a little bit important, at least for like knowing things, you know kind of understating where things are coming from.

Deposits
If you’ve worked with the North American version of NAV; what I’m gonna talk about today, by the way, is deposits or cash receipts, in the North American version you can go into deposits. I’m not sure if it’s available in other versions, but it's definitely in the North American one.

The reason for this is because in the US, checks are still used a lots and people will actually deposit and they will fill on the deposit slip, and the idea behind this is to imitate the deposit slip, so here you’ll create a new deposit, pick a bank account so this is an example, then you pick the customer and then you could put another customer in here that you are receiving money from. How much that is, and then you can actually apply it to the customer transaction and then once you are done, you just post this and its posts a lump sum.

One of the issues with this is; I was kind of on defense about this form because it used to at least post on different document numbers, so it posted on this deposit document number, on one side and then I believe it used the check number or something like that on the side, so it was kind of weird, it didn't tie together, they might have fixed that but at the same time this was really only for the US market or North American market.

What you could do instead, you could use the cash receipt journal ;and by the way this is all old stuff,l its been here a while, cash receipt journal definitely has been here forever; so here you can of course just receive payments, go payment from a customer the cannon group and we got 5,000 and then instead of specifying the balancing income you can just go ahead and start getting another check in here from new concepts for 6,000 etc and then finally put in the bank.

I’m sure some of you have already used it like this. Here is the upgrading account for 11,000. And the document is clear, And you just put check number here on this side.
This is good, here you can actually apply it as well, do the exact same thing as the deposit journal, not to bad, but the point on this video is, of course, to highlight these things and then in comparison with the new feature. So what is that? now let's get to it.

Register customer payments
If I Get here into home screen in the business manager, there is something called register customer payments, so how is that different than the other two things that I showed you?, well if I go in here, I get a list of all of the customer ledger entries or outstanding things that we should receive payments from and I can just go ahead and say: ok I receive the Beef house, the Cannon group, I’ve received another cannon group right here and this is the total.

I’m starting from the customer ledger entries and applying them and that's picking up the amount and then it's just telling up the amount, and I can just say post a lump payment or post payments individually. So one of the things with deposit screen its posted a lump payment, something you want to post it individually os it nice that you can select either one.

Then you have things like a preview, you can preview the posting payments and you can set up here which is the default bank account, notice that I’m not specifying a bank account here, so I have to have a default one that I’m working with and this, of course, posts through the payment journal, so ti automatically generates those entries.

So here I just check off post payments done. And these create bank entries and then applies much easier. I actually really like this, this is kind of taking away the whole aspect of filling out the journal, much easier. I hope you actually can compare those three and see which one you like the best. This one is really cool, I don't see really any big negative to this one.

 

 

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