How to Suggest Vendor Payments in Business Central
Posted on: December 9, 2020 | By: Josie Mah | Microsoft Dynamics Business Central
In order to pay vendor invoices in Business Central, the Payment Journal must be used to generate paper checks, ACH payments, or manual checks. While this journal can be filled out manually or using Edit in Excel, this task can become very time-consuming if there are dozens or hundreds of invoices to pay. In light of an increasingly digital marketplace, we highlight Business Central’s Suggest Vendor Payment functionality that allows users to programmatically create payments!
On the Payment Journal page, the Suggest Vendor Payments batch job can be used to suggest payment lines. Based on your settings, payments are suggested based on the due date or existing payment discounts. If the user is utilizing Payment Priority on the vendor card, this will also be taken into consideration. The Suggest Vendor Payments job can be used to create payment lines for all vendors with 1 or more priority numbers assigned to them.
If a user would like to take advantage of payment discounts after entering an available amount, the amount will be used for:
- Prioritized overdue vendor entries in order of priority.
- Overdue vendor entries that are not prioritized.
- Open vendor entries that qualify for payment discounts, arranged by vendor number.
To use the Suggest Vendor Payments function:
- Navigate to the Payment Journals
- Open the relevant journal, and then select the Suggest Vendor Payments
- Fill in the fields as necessary. Hover over a field to read a short description, as listed below:
- Last Payment Date – Specifies the latest payment date that can appear on the vendor ledger entries to be included in the batch job. Only entries that have a due date or a payment discount date before or on this date will be included. If the payment date is earlier than the system date, a warning will be displayed.
- Find Payment Discounts – Specifies if you want the batch job to include vendor ledger entries for which you can receive a payment discount.
- Use Vendor Priority – Specifies if the Priority field on the vendor cards will determine the order in which vendor entries are suggested for payment by the batch job.
- Available Amount ($) – Specifies a maximum amount (in $) that is available for payments.
- Click OK
Business Central will now create the payment journal lines based on the criteria provided that will be ready to process immediately.
Logan Consulting has helped various brands transform their business using Microsoft Dynamics 365 Business Central and other similar services. If you are interested in Business Central or want to find out how Logan Consulting can help you optimize your business, contact us today for a consultation.
Top 10 Inventory & Operations Decisions Distributors Are Making Blind
2020 Nucleus Research Report on ERP Technology