In this post, i am going to describe how debit and credit entries are recorded in Subledger journals of Free Text Invoices.
I am using COM data set here.
Go to Accounts Receivable > Common > Free text invoices > All free text invoices
Click New> Free text invoice button on action pane
Set Customer account = RCUS000001
Set Billing Classification = General [Note: Billing classification field only enables when Public Sector license is loaded and when Public Sector license is loaded then Billing classification field is mandatory and i have to enter a value in order to proceed further]
Click Add line button
Set Main account = 45999 [In COM data, the accounts that starts with 4 are revenue accounts. I am using revenue account here because we are collecting money from Customers. All Accounts receivable transactions are revenue transactions]
Set Unit price = 100
Click Subledger journal button on Accounting action pane
Subledger journal entries:
45999 is the Main account ledger dimension attribute used in FTI line as shown in 1st screenshot.
999 is the Fund ledger dimension attribute picking up from Financial dimension line as shown in 1st screenshot.
154 is the Department dimension attribute picking up from Financial dimension line as shown in 1st screenshot.
Credit entry against 999-45999-154 is recorded because 45999 is a revenue account and credit entries are recorded against revenue accounts. Customer are going to pay that money and the amount does not belong to customer that's why credit entry is recorded against the transaction of customer.
Debit entry against 999-11530 is recorded because this is a balancing entry as sum of all debits should be equal to sum of all credits in double entry accounting systems and this is also being implemented in AX.
999-11530 is picking up from posting definitions and transaction posting definitions forms. I will discuss posting definitions in my next posts in detail.
Financial dimensions on FTI line and Customers:
You can set your own Financial dimension values as per your choice on Financial dimension line
Each FTI line can have different financial dimension values and as per dimension values on each FTI line, Subledger journal entries are recorded.
By default, Financial dimensions on Financial dimension line are captured from Customer financial dimensions. If no Financial dimension values are set on Customer financial dimensions then empty records are shown on Financial dimension line.
Customer financial dimension values can be set from the following path.
Accounts Receivable > Common > Customers > All Customers
Select any Customer
Click Edit button
Expand Financial dimensions tab
In the above screenshot Fund = 999 and Department = 154 was set on Customer financial dimensions so it was picked up on FTI financial dimension line by default and i didn't need to set the financial dimension values on FTI financial dimension line.
Happy Daxing!
I am using COM data set here.
Go to Accounts Receivable > Common > Free text invoices > All free text invoices
Click New> Free text invoice button on action pane
Set Customer account = RCUS000001
Set Billing Classification = General [Note: Billing classification field only enables when Public Sector license is loaded and when Public Sector license is loaded then Billing classification field is mandatory and i have to enter a value in order to proceed further]
Click Add line button
Set Main account = 45999 [In COM data, the accounts that starts with 4 are revenue accounts. I am using revenue account here because we are collecting money from Customers. All Accounts receivable transactions are revenue transactions]
Set Unit price = 100
Click Subledger journal button on Accounting action pane
Subledger journal entries:
45999 is the Main account ledger dimension attribute used in FTI line as shown in 1st screenshot.
999 is the Fund ledger dimension attribute picking up from Financial dimension line as shown in 1st screenshot.
154 is the Department dimension attribute picking up from Financial dimension line as shown in 1st screenshot.
Credit entry against 999-45999-154 is recorded because 45999 is a revenue account and credit entries are recorded against revenue accounts. Customer are going to pay that money and the amount does not belong to customer that's why credit entry is recorded against the transaction of customer.
Debit entry against 999-11530 is recorded because this is a balancing entry as sum of all debits should be equal to sum of all credits in double entry accounting systems and this is also being implemented in AX.
999-11530 is picking up from posting definitions and transaction posting definitions forms. I will discuss posting definitions in my next posts in detail.
Financial dimensions on FTI line and Customers:
You can set your own Financial dimension values as per your choice on Financial dimension line
Each FTI line can have different financial dimension values and as per dimension values on each FTI line, Subledger journal entries are recorded.
By default, Financial dimensions on Financial dimension line are captured from Customer financial dimensions. If no Financial dimension values are set on Customer financial dimensions then empty records are shown on Financial dimension line.
Customer financial dimension values can be set from the following path.
Accounts Receivable > Common > Customers > All Customers
Select any Customer
Click Edit button
Expand Financial dimensions tab
In the above screenshot Fund = 999 and Department = 154 was set on Customer financial dimensions so it was picked up on FTI financial dimension line by default and i didn't need to set the financial dimension values on FTI financial dimension line.
Happy Daxing!
