Learn how to set up payment terms in Microsoft Dynamics 365 Business Central to effectively manage due dates and calculate possible payment discounts. Discover the correct configuration for streamlining financial processes and improving cash flow management in your organization.
Table of Contents
Question
Your company uses Microsoft Dynamics 365 Business Central for its financial processes. Your company wants to manage due dates and calculate possible payment discounts.
You need to set up a feature that will allow the company to manage due dates and calculate possible payment discounts.
What should you do?
A. Set Up Payment Terms
B. Set Up Payment Methods
C. Set Up Posting Groups
D. Set Up Value-Added Tax (VAT)
Answer
A. Set Up Payment Terms
Explanation
Setting Up Payment Terms allows the company to manage due dates and calculate possible payment discounts. Setting Up Payment Methods is incorrect because it specifies how the company wants to be paid by customers and how it wants to pay vendors. Setting Up Posting Groups is incorrect because it maps entities like customers, vendors, items, resources, and sales and purchase documents to general ledger accounts. Setting Up Value-Added Tax (VAT) is incorrect because it defines how the company reports VAT amounts collected for sales to the tax authorities.
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