Work with accounts payable in Dynamics 365 Finance
Accounts payable are a liability due to a creditor when you order goods or services without paying in cash up front, which means that you buy goods on credit. Learn how to configure accounts payable in Dynamics 365 Finance, record vendor invoices, and distribute expenses, tax, and charges across accounts.
Prerequisites
- Basic understanding of finance and accounting processes.
- A general understanding of purchase order invoicing.
- The ability to use Finance for basic processing
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Modules in this learning path
You can enter vendor invoices manually or receive them electronically. You'll learn how to configure the Accounts payable module in Dynamics 365 Finance to empower accounts payable staff to perform their daily activities.
Purchasing goods for resale or as materials for manufacturing or services is a large responsibility. Tracking those purchases and paying the vendors that supply the goods is just as challenging. Organizations must monitor accounts payable closely and implement procedures so management can easily obtain the financial information that they need to have to stay informed about changes in the costs of goods. To give an accurate view of the financial condition of the business, all expenses that affect net profit are included in accounts payable.
Accounting distributions are used to define how an amount is accounted for. For example, how the expense, tax, or charges are accounted for on a vendor invoice. Every amount must be accounted for when the vendor invoice is journalized has one or more accounting distributions.
Optical character recognition (OCR) is a technology that enables organizations to automate data extraction from scanned documents or images. You can convert text from the source document to machine-readable data within Dynamics 365 Finance.