Streamline Vendor Invoice Automation Dynamics 365 for NPOs with airSlate SignNow

Vendor invoice automation dynamics 365 for NPOs

hi everyone hope you are doing good welcome to the next video on my YouTube channel this is the platform where I come and share my knowledge and experience with you all my name is sarti Microsoft dynamx 365 Professional without further delay let's start the today's topic so today we are going to talk about one of the feature which Microsoft has released in d65 finance and operations and this feature is uh is around the vendor recurring invoices so we are going to talk about this feature uh what this feature is similar feature was available in uh account receivable for the customer using the free text invoices but now Microsoft has released this feature for the suppliers as well so let's start and understand what this feature is so uh when recing invoices uh uh are the I mean is the functionality which uh helps you to create the invoices uh on a on a on a based on a frequency which you can Define on your template and this will reduce the effort by your in invoicing uh you invoice user so that that person need not to enter the information again and again for each and every month uh invoice the use case uh a typical use case we can think about it let's say your company has rented a place and there is a rent agreement with the vendor and so now you know that every month you are going to receive the similar invoice with the similar amount and with the with the same vendor only the date is going to change right now if you take this example now your vendor uh I mean your invoice user need to enter the same amount of data uh again and again every month so how we can automate this process so let's talk about the and how this process can uh help us in reducing this manual data entry for the invoice users before we start with the uh process here uh one thing which we need to understand that how it will work so we need to enable the feature in the feature management uh there is a setup uh uh for the number sequence which will create for which which will be created for the recurrence ID we so and and once we do this once we run this process so it is going to use the pending vendor invoices feature so it is going to create the pending vendor invoices and the lines can be created for the invoice in the template for both the procurement categories and the items so let's see that how the end to end process looks like so the end to end process will be first you create a template apply that template with the vendor account and then you can use that template and process your invoices so let's move to the system demo and see that how it will work in Microsoft Dynamics so as I said uh first thing is that we need to enable the feature in the feature management so there is a feature called as enable recurring AP invoices so you need to enable this feature once this feature is enabled what you can do is that you can go to accounts payable and under accounts payable you have got the invoices uh uh uh menu it in the group and there you have something called as recurring invoices now when you have when you expand this recurring invoices you have got something called as Fender invoice template and this is where you define the uh template for your recurring invoices now if you see that I you can Define the name and the description here I have taken the similar example which I was talking just now that let's say it is a rent uh recurring invoice which I need to record so I have given the name as as rent then the posting profile and the common attributes of the invoice for example payment terms method of payments and other things if you want to Define you have also got an option of applying the financial dimensions on all the lines and on this invoice so you define that and then you can add the lines so when you add the lines you have a option of defining the description so I can Define the description for this then I can Define the applicable tax attributes I can select either the item or the procurement category so I have selected all all all three different types of line one is the against the category uh second one is the service item and then is the stock item but one thing to note here is that this stock item is also going to behave as a non-stock and it is going to hit your pnl uh uh only not the inventory so what I understand right now is that you cannot have the inventory invoices recorded against this again for that you need to go with a purchase order process only so once you define this template uh you need to uh go to uh your vendor master and then when you go to vendor Master you uh click on the all vendors and there on the vendor form if you go to invoice tab you will find something called as recurring invo voices and here you can click on new and map your uh uh that invoice template recing invoice template which you have created you start the billing date and all all the information here you define the frequency that on what frequency you want to generate this recurring invoice so I have selected monthly and every month and uh in the bottom you also get that when the next Generation date is when the last time it was generated I have already test dat for one or two months so that's why it is showing the dates here now you can also look at the history here so it will show you like all the invoices which have been generated using this template what is the status so all these informations are available for you now if you go back to your template there also you can see that uh this template has been assigned uh to how many vendors so which means you can use the same template for multiple vendors as as well if if if it is required and it also tells you the history that how many invoices has been raised using this template for this vendor and whether it is a uh active template or not so all this information is uh uh defined and your template is ready right now and you have assigned to your supplier now how do you generate this so you go to accounts payal U and then under the accounts payal you have this invoices option at s so now here you expand this recurring invoice and click on the generate invoices so I have generated only till already till 31 30th April now I will generate on 31st of May so I will select this and then I can select the template the another thing is let's say if in your case if you have got multiple templates and every month it's a month end activity and you are going to process multiple templates so you can select multiple templates here and you can process them in a batch way B batch uh uh process as well so you define this and then you click on okay now once you click on okay this is going to uh create your uh recurrence ID and recurrence invoice number so the recurrence invoice number is usmf high 003 now this can be uh set up in your uh number sequences that what format you require so as I said this is also another prere which you need to have it now once this is done let's go and look at that how this will uh how this invoice looks like so I can go and check one place is that post vendor pending vendor invoice is here so if I click here I have two invoices already posted this is the third one so if I see this uh I have got this invoice here okay so it is just showing me the totals here now if I click on the details it is going to show me the details about this particular invoice and this when I click on the details if you obser this takes me to the pending vendor invoices now what it is also doing is that it is also populating the uh vendor invoice number automatically so it is taking the recurrence ID and hyphen 1 now you might ask that when it will be hyphen 2 so if let's say there were multiple template and the same recurrence if you are generating multiple invoices it will assign the number ingly hyphen 1 2 3 4 5 6 7 and all it has taken all the invoice receed date invoice date and everything if you see the lines are populated ingly the amount has been picked up so all this information has been generated automatically now I can go back and if I have to let's say uh post my invoices so I can just click on post vendor invoices so I have this option so I can click on the post and transfer and the moment I click on the post and transfer it is going to post this particular invoices to my vendor account so if you see this has been posted the status is yes now I can go and check this validate this invoice posting in my all the invoices like which is your invoice Journal so if I go to my invoice Journal I can go and check whether uh it has posted this invoice or not I'll go and sort by the new now so if you see this is my invoice it has been posted I can go and click here and check that whether it has uh generated the suger transaction so it has generated the subledger transaction uh if I go and see the lines it will show me all the lines which I had in my uh template and with the amount and the text calculation has this uh posted the post sales Tex yes it has posted the sales tax so I can go and check the posted sales tax for this uh apart from that if I want to see the voucher uh accounting entry so right now it is showing me blank uh and it is because it has not been transferred yet so I am going to transfer this manually and check that what uh accounting entry it had generated so if I just go and refresh this so if you see based on my category and the mapping what I have for the item in the procurement category it had generated the accounting entry and credited my vendor debited my tax and the expenses so that's it for this video hope this feature will help you in um uh in uh configuring and uh designing the solution for your customers who are having these recurring invoices on the supplier and they have to enter these invoices manually every month and this can be automated uh another thing which we can do is that uh these invoices uh can also be u i mean processed along with our subscription billing the deferrals and other things and also we can think of the invoice process automation the moment it is created it can be submitted automatically to the vendor vender invoice Journal if the approval is required and then through that we can just automate the entire process so if you see you would not go and manually create any o any of these things you just need to run your couple of batches and the invoice process automation to automate this end to end so that's it for this uh video hope this helps you to solve this problem for your customer and thank you for watching uh this and see you in the next one thank you