There are a lot of places were you need to set ledger accounts in Dynamics AX 2012. This post is about setup regarding sales. I walk you through setting you need to make sales postings accurate.
1. Inventory accounts
The most complicated setup is for inventory management.
1.a. Packing slip
- This account should be the one which holds selling assets.
- The account is credited when a packing slip is posted. The account is debited when the sales order is invoiced.
- Posting type is “Order packing slip”.
1.b. Packing slip offset
- Usually this account is asset account that holds amount ready to receive.
- The account is debited when packing slip is posted and credited when the sales order is invoiced.
- Posting type: “Order offset account packing slip”.
- Must be asset account (or a valuation account for the asset account) that holds the amount of inventory sold.
- Credited when the sales order is invoiced.
- Posting type: “Sales order issue”.
- This account is an expense account and collects cost of goods sold.
- The account is debited when invoice is posted.
- Posting type: “Sales order consumption”.
- The account is revenue one and holds revenue from sales.
- The account is credited when the invoice is posted.
- Posting type: “Sales order revenue”.
- This is an expense account.
- The account is debited when sales invoice is posted
- Posting type: “Sales, commission”.
1.g. Commission offset
- This is a liability account.
- The account is credited when sales invoice is posted.
- Posting type: “Sales, commission offset”.
Accounts receivable used to record the debt of the customers.
Here you need to specify at least “Summary account” for the profile.
- This account is an asset account and holds receivables.
- The account is debited when sales invoice is posted and credited when a payment is received.
- Posting type is “Customer balance”.
Charges are used to track amount in addition to the sales order.
A charge code can debit customer/vendor account and credit a ledger account. It means that it debits the account specified for the receivable module in the customer posting profile and credited a specified ledger account for the charge code.
Another option is to debit a specified ledger account and credit a receivable account. In this case the system decreases the debt of the customer and records expense or asset.
Posting types is applied in accordance with the value in the “Posting” field.
4. Sales taxes
Sales tax accounts are applied in accordance with the sales tax code used.
In the ledger posting group you need to have at least sales tax payable account.
- This is a liability account.
- The account is credited when sale is invoiced.
- Posting type “Sales tax”.
In case you have properly set all accounts described in the post and set accounts for currency revaluation and account for automatic transactions, then your sales should go smoothly. They should not be interrupted because of lack of ledger accounts setup.
Please feel free to share in comments any other accounts must be specified for sales.