Cheque printing in Dynamics 365 is generally made against vendor outstanding balances in vendor payment journal. What if we want to make cheque payments towards ledger accounts from the bank account?
Dynamics 365 allows such a requirement in the standard functionality. An organization has a policy of making payments against employee claims through bank cheques. The employees submit their travel bills and claim the amounts from those bills.
What if the employees are available as a financial dimension and the organization wants to choose the travel expenses ledger account in combination with the employee dimension to record the payment?
Let us see how we can handle such scenario.
The first and foremost thing important is to enable the checkbox to Allow checks for banks or ledger accounts in cash and bank management parameters. Marking yes allows the system to print cheques for both banks or ledger accounts.
To differentiate the non-vendor payments from vendors, create a separate optional journal name under General Ledger | Journal names.
Go to Vendor payment journal under Accounts payable, click new to create a new journal. Choose Lines to open the transaction entry.
Go to the general tab and choose the Account type as a ledger and enter the travel expenses account with employee dimension combination. Enter the debit amount. Choose offset account type as Bank and fill the bank account from which cheque is going to be issued.
The list page shows the ledger account like this in the main form
Go to Payment tab, enter the cheque recipient name.
Generate payments and choose the method of payment Cheque and the required bank for the payment. The offset account type is the bank.