Managing Customer Receivables in Dynamics 365 Business Central
I don’t remember what I was looking for in Customer Ledger Entries, but what I found certainly taught me about some great hidden gems in Business Central. In this post, I’ll review four of the five features I learned about – the fifth feature will be covered in an upcoming article.
Dispute Status Values
Did you know that you can setup your own Dispute Status values and use them to update customer ledger entries for tracking purposes?
Checking the “Overwrite on hold” in the above Dispute Status setup will update the on hold field for the customer ledger entry when you choose the associated dispute status.
Promised Pay Date
How about setting a date in the customer ledger by which the customer promises to pay? Yes, that’s also available and editable.
Exclude from Payment Practices
Based on the above, I wondered what else I may be missing. So I decided to investigate the Customer Master Record. I had seen the field for Exclude from Payment Practices but never utilized it.
I wanted to know how to use Payment Practices, so I searched for it and found that you can set up different analyses.
You can choose two different aggregation types (company size and period), three header types and any date range.
There is a Company Sizes table where you can define the size ranges that you want to track. And, of course, you would need to populate the associated field on the customers and/or vendors to utilize this aggregation type.
I even edited the ending date and re-generated the data.
Payment Practice Data List
It’s very interesting to see how payments are trendings. Each of the values on the Statistics fast tab is ‘drillable’ to see the data used in the calculation. For example:
Want a report for management on how well collections are doing, or how well payments to vendors or from customers are being handled? The Payment Practices Report and its associated data are excellent. Remember that you can exclude customers or vendors from the calculation on an individual basis.
Report example:
There is also a predictive web service provided by Microsoft to report on expected Late Payments. You might have noticed a tile on the Business Manager Role Center that will display a total number of open customer ledger entries with a drill-down into the entries. I will cover this feature in an upcoming article.
