Hi,
Can i know how to settlement when vendor is also a customer is there any functionality in ax2009
Thanks
No they are independent records and the link is only a reference, you have to treat these separately.
can you explain in detail how to do in ax2009
1st Solution:
There will be one customer card and one Vendor card for the same party. Create a special ‘Customer Posting group’ and tag a G/L account in the Receivables. Then also create a special ‘Vendor Posting Group’ and tag the same G/L account in Payables. Now, tag the special ‘Customer Posting group’ to the Customer card and the special ‘Vendor posting group’ to the Vendor card.
In this fashion any Purchase made or any sale made, it will go to the same G/L account.
2nd Solution :
Create a Dimension for such a Party. Make it default dimension for both the Customer card and the Vendor Card. Thus through Dimension wise report you can obtain both the purchase/sale or receipt/payment data.
Hi Ameen,
From your sloution point of view: You are settleing the transaction from voucher point of view, but what about transaction settlement in vendor and customer form?
How will you take care of customer and vendor aging report?
What is feel is, customer and vendor will be treated seperately. After AP and AR transaction is passed, pass a manual voucher such that customer is debited and vendor is credited or vice versa as required.
Now use open transaction editing to settle resective transactions. This way you all the transactions will be closed also.
Pranav…
Correct solution :
There will be one customer card and one Vendor card for the same party. Create a special ‘Customer Posting group’ and tag a G/L account in the Receivables. Then also create a special ‘Vendor Posting Group’ and tag the same G/L account in Payables. Now, tag the special ‘Customer Posting group’ to the Customer card and the special ‘Vendor posting group’ to the Vendor card.
In this fashion any Purchase made or any sale made, it will go to the same G/L account.
to nullify the subledgers :
customer and vendor will be treated seperately. After AP and AR transaction is passed, pass a manual voucher such that customer is debited and vendor is credited or vice versa as required
In that case, whenever you run AP or AR Aging, the invoices will alsways show as open which infact is not.
Secondly, from audit point of view, where will you place that ledger in COA. How will you justify when auditor asks this question.
Pranav
It is like paying any vendor account and receiveing cash for any sales invoice. Whilst you relate them as the same organisation AX does not.
Hi Pranav,
There is field on to customer card under remittance “Vendor Account.”
I have created same customer as vendor and attached the same in this field so as to have link with same party as customer and as vendor.
Can you plz suggest which action is require further to transfer the balance to either account.!?
Or what is the use of this field.?
Thanks,
Jainal
If you are on AX2009, there is no use of this field. It just gives you the information that this customer is also a vendor& shows his vendor Account.
If you are on AX2012, You can use reimbursement functionality, to transfer the overpayment of the customer to the linked Vendor Account.
Ex: If customer card has a over payment of 20K, If you run reimbursement, this 20K will be transferred to linked Vendor Account.
Hi Santosh,
I have run “Reimbursement” process after doing basic set up. Batch job runs fine and gave me status that reimbursement has been created but it is no where showing that thing.!!
Can you throw some more light on this.?
Thanks,
Jainal
Have you gone to Vendor Account i.e., linked to your customer card. You must see a transaction posted to your vendor account. Also, you must see a debit transaction posted to your customer account.
What do u mean Customer Card ? Same as Customer in AX 2012 R2. Please let me know the Path.