Hi All,
Today, we have got a new facility from one of our banks, wherein, the Bank will pay to our vendors on our behalf and allows us to pay this amount to bank after..say 30 days. Bank charges us some interest for providing this facility. Further, Bank has provided us a credit limit for using this facility. Its akin to Credit Card Facility. We want the amount payable to Bank to appear in Cash Flow Forecasts.
Now, we are not sure, how to record this transaction in AX.
E.g. We need to pay Vendor X some Amount as an advance Payment, say USD 3000.
Bank Y pays to Vendor X on our behalf and provides us facility to pay USD 3000 after 30 days(wtih some intrest).
We want the amount 3000 to appear in Cash Flow Forecast for the date, 30 days later. If possible, we want to incorporate interest amount too into this payable. Our bank calls this facility as Trust Receipt.
Can anyone guide me to make this entry in AX? We are using AX 2012 CU3?
Any help would be greatly appreciated.