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Best Practice - Non PO related Vendor Invoice

  • 1.  Best Practice - Non PO related Vendor Invoice

    Posted 20 days ago
    Good Afternoon. hope everyone is well. I wanted to get opinon on what you see has the best practice in handling invoices from vendors that are not linked to a purchase order, ie phone bills, office supplies, miscellaneous

    Would you use Vendor Invoice, Invoice Register or Invoice Journal? Pros and cons to each.

    Thanks so much!

    ------------------------------
    Andrea Smiley
    Product Manager
    TrueCommerce
    Providence RI
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    Academy - Online Interactive Learning from Experts


  • 2.  RE: Best Practice - Non PO related Vendor Invoice

    SILVER CONTRIBUTOR
    Posted 20 days ago
    Hello,

    I have implemented both the Invoice Journal and Vendor invoice. I guess it all depends on how your company is structured and how you want to record and approve those invoices. In my opinion Invoice Journal is the fastest way to get an invoice into the system, you can add approval workflows very rapidly as well. The Con with this method is that your AP clerks must know the GL codes each invoice goes to.

    Vendor Invoice allows you to use procurement categories to map to GL accounts so AP clerks must not know all the GL accounts. You can also record invoice lines to add more detail to the invoice. The approval workflow here can be more robust and use employee hierarchies and spending limits.

    The one I have never used and in my opinion does not add value is the invoice register.

    Regards,


    ------------------------------
    Juan Sebastian Grijalba
    Berkowitz Pollack Brant
    Miami
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    Academy - Online Interactive Learning from Experts


  • 3.  RE: Best Practice - Non PO related Vendor Invoice

    Posted 19 days ago
    Hello,

    I would like to add that there a couple of options for making the Invoice Journal more user friendly.
    • You can assign a handful of acceptable GL codes to the vendor to limit the selection options when entering an invoice via the Invoice Journal.
    • You can also designate one of the assigned GL codes as a default GL code.  The default GL code will automatically populate the Invoice Journal line when entering an invoice for that vendor. The user can change it to one of the other codes assigned to the vendor.  
    • You can save a voucher template that has the GL codes memorized and then recall the template when you're entering an invoice via the Invoice Journal.  
    I hope this helps.

    Best regards,

    ------------------------------
    Donna Cribbin
    DXC
    New York NY
    ------------------------------

    Academy - Online Interactive Learning from Experts


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