Setting up Accounts Payable in Microsoft Dynamics 365 for Finance and Operations

Setting up Accounts Payable in Microsoft Dynamics 365 for Finance and Operations involves several steps. Here's a step-by-step guide:

1. Prerequisites for Accounts payable setup: Before you can set up Accounts payable, you must complete the following setup:

- In the General ledger: If you plan to use payment journals, set up payment journals. If you plan to run exchange rate adjustments, set up currency codes on the Currencies page, set up exchange rate types on the Exchange Rate Types page, and set up currency exchange rates on the Currency Exchange Rates page.

- In Cash and bank management, set up bank accounts to use with payment methods.

2. Setup pages for Accounts payable: Use the following pages to set up the basic functionality of Accounts payable for each legal entity:

- On the Terms of Payment page, define the payment terms assigned to sales orders, purchase orders, customers, and vendors, and that determine invoice due dates.

- On the Methods of Payment - vendors page, create and maintain information about how the organization pays its vendors.

- On the Vendor Groups page, create and maintain groups of vendors that share important parameters for posting, settlement and payment, reporting, and forecasting.

- On the Vendor posting profiles page, define how vendor transactions are posted to the general ledger.

- On the Accounts Payable parameters page, set up default settings that are applied if a more specific setting isn't specified, parameters for various kinds of functionality, and the various number sequences for Accounts payable¹.

- On the Form setup page, define the format of various documents related to vendors, which the organization uses to keep track of receipts from vendors and enter reasons for the flow of payments to vendors.

- On the Vendors page, create and maintain vendor accounts, and also the tax authorities that your organization reports sales taxes.

3. Optional setup pages for Accounts payable: In addition to the basic functionality, Accounts payable has other functionality that you can set up:

- On the Vendor invoice policy page, set up vendor invoice policies.

- On the Invoice totals tolerances page, set up tolerances for invoice totals.

#MicrosoftDynamics #D365 #FinanceAndOperations #AccountsPayable #Setup #D365fo #wearedxc #dxc