Automatic Application of Payments – NAV

In NAV you can enter a Balancing Account Type and Balancing Account Number against a Payment Method to automatically create a payment entry. 

If a Payment Method has a Bal.Account Type and a Bal. Account No and this payment method is used on documents such as a Sales Orders, upon posting this document NAV will automatically create a payment entry and apply it to the posted document.  (In this instance the Posted Invoice).

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This functionality is ideal to use when customers pay in full at the time of the sale.

If you’re using the RoleTailored Client, go to Departments > Administration> Application Setup > Financial Management > Finance > Lists >Payment Methods.

In the Classic Client, you can find the Payment Methods form in Administration> Application Setup > Financial Management > Payment Methods.

NB.  The Payment Methods in application setup are used for both Customers and Vendors.

 

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