Introduction
Dynamics 365 Finance offers extensive functionality for setting up various vendor payment options.
These payment options are set up and used in the Accounts payable and Accounts receivable modules:
- Payment schedules
- Payment days
- Terms of payment
- Cash discounts
- Methods of payment
- Payment fees
This module explains the basic setup of accounts payable and the vendor setup for efficient management of vendors and vendor transactions in Finance.
In this module, you will learn how to:
- Configure accounts payable components.
- Create and maintain a vendor.
- Configure vendor payments.
- Set up vendor posting profiles.
- Configure accounts payable charges.
Prerequisites for Accounts payable setup
Before you can set up Accounts payable, you must have completed the setup of the General ledger and Cash and bank management modules.
For example, you must create payment journals. You use payment journals to pay the vendor invoices. To run exchange rate adjustments, you need to set up:
- Currency codes on the General ledger > Currencies > Currencies page.
- Exchange rate types on the General ledger > Currencies > Exchange rate types page.
- Currency exchange rates on the General ledger > Currencies > Currency exchange rates page.
Finally, you need to ensure that the bank accounts have been set up to use the banks with methods of payment.
For more information, see Configure currencies in Dynamics 365 Finance and Configure cash and bank management in Dynamics 365 Finance.