Tuesday, November 25, 2014

Sales Order Accounting For Packign Slip, Customer Invoices, Commission & Discounts

I'm going to explain the Dynamics AX Standard Accounting entries for a sale order.The ledger accounts listed on the Sales order tab pertain only to the item group selected on the Overview tab. Use Packing slip accounts used only if Microsoft Dynamics AX is set to post to the ledger when goods are delivered to a customer. Once the invoice is generated, Microsoft Dynamics AX reverses the Packing slip postings. You use Commission accounts used only if commissions are set.
Let's have a look on the posting and nature of accounts that have been used.
Sales Order Accounting For Packing Slip:

Voucher No.
Posting Type
Dr.
Cr.
Purpose
Voucher # 1
Packing Slip
Dr.
 
To record the Inventory dispatched to Customer.
 
Packing Slip Offset
 
Cr.
Nature of Packing Slip
The inventory clearing account for shipped sales non-invoiced items. The account in this field is credited with the running average or standard cost of the item(s) when the sales order is packing slip posted. The offset to this is the account in the Packing slip offset field.
Nature of Packing Slip Offset
This account is a control account and value in this field is debited with the value of the item when the sales order is packing slip posted. This is the offset to the account in the Packing slip field.
Sales Order Accounting For Customer Invoices:
Voucher No.
Posting Type
Dr.
Cr.
Purpose
Voucher # 2
Packing Slip Offset
Dr.
 
Reversal of Voucher # 1.
 
Packing Slip
 
Cr.
Voucher # 3
Consumption
Dr.
 
Accounting entry to record the actual inventory consumption.
 
Inventory Issue
 
Cr.
Voucher # 4
Customer Balance
Dr.
 
To record the revenue for the customer invoice.
 
Sales Order Revenue
 
Cr.
Sales Order Accounting For Sales Commission & Discounts:
Voucher No.
Posting Type
Dr.
Cr.
Purpose
Voucher # 5
Commission Expense
Dr.
 
To record the Commission Expense and Payable.
 
Commission Payable
 
Cr.
Voucher # 6
Discount on Sales
Dr.
 
To record the Discount on sales against customer balance.
 
Customer Balance
 
Cr.


Enjoy the DAXING !!!!

5 comments:

  1. Very useful information thanks for sharing

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