I have a question about transaction about Bridging Account
I have done the setup and everything is fine like i am able to post the transaction from General journal - Functions Select Bridging Accct Transaction.
My quesiton is suppose i receieved a cheque and entered in the Payment journal as BRIDGING (Method of Payment)
and posted it then i my Bank informed me that the Cheque had bounced, now I don’t want to post the Bridging Transaction, but rather prefer to CANCEL/ REVERSE the same. Is this i should do? or is there any other way?
Have u reversed the posted transaction and tested the scenario because in any case you have to reverse the transaction. Since customer is involved i think you have to make manual entry.
In A/R, i had selected the transaction and CANCELLED THE PAYMENT.
Now in GL in the Functions Bridging Transcations it will be there and will stay there for ever. I don’t want to POST this becuase of obvious reason. But my issue is i am not able to REMOVE it also. Is there any way to remove it. This is the question
I could able to understand the product functionality of Bridging account , but i did not understand the business requirement , it means in which business scenerio we need to sugges this solution to client ?
Bridging transaction functionality could be used if you want to monitor your check transactions such as Unreleased checks or Undeposited Fund in AR or AP module for example:
AP Module
payment journal:
A/P Debit
Unreleased Check Credit
then go to GL module to reversed the entries and update the Cash in Bank.
GL journal: Using the Select Bridging Transaction.
Good afternoon, yes I work here in the philippines, because the company I’m working with have lot of accountants, its an accounting firm, but im in system department handling Microsoft Dynamic AX with my other colleagues. [:)]
I have a query regarding Bridging account & offset bank account.
At the time of setup under Method of payment (customers) we have to specify the bridge account as well as Bank Account.
My question is in case of the company is having multiple bank accounts and they decide to deposit depend on their requirement to particular bank account. But while receiving from customer we have to receive the cheque and credit the customer account.
Is it possible to change the offset bank account while clearing from bridging account?
I have a query regarding Bridging account & offset bank account.
At the time of setup under Method of payment (customers) we have to specify the bridge account as well as Bank Account.
My question is in case of the company is having multiple bank accounts and they decide to deposit depend on their requirement to particular bank account. But while receiving from customer we have to receive the cheque and credit the customer account.
Is it possible to change the offset bank account while clearing from bridging account?