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[Amanda Mayer]

I recently came across a company that is using the Payment Registration window to process their Customer deposits.

Apparently this has been around since version 2013. Is anyone else using this? And if so, why do you use this over Cash Deposits or Cash Receipts Journal?

#Accounts Payable or Receivable
#CFO or Controller
#Finance and Accounting??

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Amanda Mayer
New View Strategies
Milwaukee WI
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[Holly Kutil]

we are not, I didn’t even know it was a thing!  But…..you have opened my eyes and now I am expecting a webinar to learn such things from you oh’ wise one :)?

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Holly Kutil ~ NAVUG All-Star
American Ring/Business Intelligence Dir.
Solon, OH 44139
**Great Lakes Chapter**
?? Women In Dynamics ??
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[David Wiser]

I’ve looked at this with clients before.  Unfortunately, it does not give the same level of functionality as either the Deposits page or the Cash Receipts Journal.  The one major factor is that a lot of companies use the customer check number as the document number and the payment registration page does not allow manual entry of a document number.  So the user would need some sort of mapping list to tie the generated document number back to the customer check number.

Also, the Post as Lump Sum function only works when posting to one customer.  If you are posting in lump sum to multiple customers, you would have to post each customer separately.

With that being said, there may be use in certain circumstances for this option.

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Dave Wiser
Controller
Beckwith & Kuffel
Seattle WA
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[Amanda Mayer]

,

You’ve hit the nail on the head, exactly. I have a blog already started (not yet published) to discuss the possible benefits of the Payment Registration compared to Deposits and Cash Receipts Journal and ?will follow up with the Payment Reconciliation Journal. I just couldn’t figure out in what circumstances the Payment Registration might be useful. 🙂

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Amanda Mayer
New View Strategies
Milwaukee WI
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[Ken Sebahar]

Agreed. My perception is that this might be most useful in an electronic banking scenario (import of data from bank)

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Ken Sebahar
Vice President – Operations
Solution Systems, Inc.
Rolling Meadows IL
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[Sue Barrett]

Thank you for posting this question – I have asked the same thing.
I figure that if Microsoft have added it – then I should be able to understand when I would use it.
I can only imagine that it would be for a business who receive checks with remittances and have a user who may struggle with the cash receipt journal and find this more “QuickBooksie”.

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ES Barrett
NAV Project Manager
Sudbury
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[Barbara Gillett]

I love NAVUG and utilize their resources whenever possible.  As a NAV user I have also benefited from the resource that Microsoft provides through Microsoft Customer Source – IT Academy.  With your NAV license, you have access to these Courses at no charge and receive a certificate for completion. This may  be a resource that can provide you some insight as to the setup and functionality of the Payment Registration feature. 

https://mbs.microsoft.com/customersource/northamerica/NAV

 

Once you have logged in, go to Learning, e learning. You will need to log into the IT Academy where you can add courses and begin learning about NAV.

The course that has the Prepayment Registration is Finance Essentials in Microsoft Dynamic (You can choose the course that pertains to your version). 

 

 Module 4: Cash Management – Receivables and Payables

I have found these courses very helpful.  A wonderful resource from Microsoft.
I hope this helps!

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Barbara Gillett
IT Manager
LorAnn Oils Inc (www.lorannoils.com)
Lansing MI
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