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[Amy Akley]

Is anyone using the Escheatment process in D365F&O that was released in June 2019? I’m having trouble finding any substantial documentation on this.

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Amy Akley
Sr. Financial System Analyst
XTRA Lease
Saint Louis MO
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[Mara Taylor]

Hi Amy, 

I didn’t even know what the word Escheatment meant until i saw it here for the first time, We happen to have our consultants here helping us with our transition from AX2012 to 365 and i asked them about it and they mentioned that its so new that no one really knows anything about it… I had asked if it would be an option we could use as i looked up the word and understood that it would help us with Unclaimed Property money that we had, and they told me it was only an option for public companies… I am not sure if that is 100% true, they also told me it was something that Microsoft would be expanding on in the near future. I will keep a look out at this post as i think this could be a great option if it becomes available to all companies … Not sure i was of any help but….

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Mara Taylor
Credit Manager
Kent Sporting Goods Company, Inc.
Snoqualmie WA
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[Alan Pavkovic]

Hi Amy,

This is a new feature we developed for the Public Sector.  You will need to use posting definitions and have funds enabled in order to use this.  

Once you set it up, you can use a new process to mark checks as “escheated” which are effectively cancelled.  The monies are then moved to another financial dimension (fund in the Public Sector) so you can remit the monies to the agency that ultimately collects unclaimed property.  

You enable the feature in the “cash and bank management” parameters.  After refreshing D365 you will have the ability to add the posting definition you want to use for escheatment to the general ledger transaction posting definition.

You can run the escheatment process at Cash and Bank Management>Periodic tasks>Escheatment process.  First you select the payments you want to escheat via the parameters then after you have highlighted the records you can Post the transactions.

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Alan Pavkovic
Tyler Technologies
Renton WA
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[Amy Akley]

Alan,

Why was escheatment only developed for the Public Sector? All companies are required to turn over abandoned property to the states. This process would make that much easier for all.

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Amy Akley
Sr. Financial System Analyst
XTRA Lease
Saint Louis MO
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[Jonathan Struble]

Can someone give me an example of what the posting definition would look like and then how to attach that definition?  In ‘Transaction posting definitions’ I do not see where I make the connection.   Thank you!

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Jonathan Struble
Campus Management Corp.
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[Alan Pavkovic]

Jonathan,

I recommend you start here in the Microsoft Documentation.  This also has examples on how to setup the posting definitions:
https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/posting-definitions

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Alan Pavkovic
Tyler Technologies
Renton WA
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[Jonathan Struble]

Alan, thanks for your response.

I am good with Posting definitions and use them often.

However, for this process, i can not determine what my posting definition would look like, nor do I understand how I attach it to this escheatment process.

Thanks!

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Jonathan Struble
Campus Management Corp.
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[Shirley Adams]

Hey Jonathan! 

I have it setup and working – the thing that is not documented anywhere is that you have to match the AP account in the posting definitions (it has to be hardcoded somewhere as no other accounts work).  I have been working with Microsoft am I am still not clear why that was the choice made.  My thought was that the idea is move from the cash account (where the money is setting) to an unclaimed cash account.  Then once you move it from there, you pay whatever governing authority from the unclaimed cash account.  It could be that I’m oversimplifying but feel free to reach out if want to discuss – I’d love some other input on this.

The workaround at this point is to match the AP account and then basically do a dummy offset and put the real accounts you want after that.

Hope that helps!

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Shirley Adams
AKA, an HSO company
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