Learn how to optimize vendor payment processes in Microsoft Dynamics 365 Finance by setting up tailored payment terms, methods, and calendars for each vendor group or individual vendor. Discover the best practices for efficient and customized payment processing.
Table of Contents
Question
Adventure Works Cycles has vendors that require different payment terms and methods. They want to optimize their payment process. You need to configure vendor payments to meet the specific needs of each vendor while maintaining efficient payment processing. What should you do?
A. Apply a single standard payment term for all vendors to simplify the payment process.
B. Configure the system to delay all payments until the last possible date to improve cash flow.
C. Manually process each vendor payment to ensure that the specific needs of each vendor are met.
D. Set up payment terms, methods of payments, and payment calendars specific to each vendor group or individual vendor.
Answer
D. Set up payment terms, methods of payments, and payment calendars specific to each vendor group or individual vendor.
Explanation
Setting up specific payment terms and methods for each vendor group or individual vendor allows for customization and efficiency in the payment process. A single standard payment term does not accommodate the needs of different vendors. Manual processing is inefficient and prone to errors. Delaying all payments could damage vendor relationships and is not a sustainable strategy.
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