For further information on how this can help you, or for any other Business Central thoughts, contact your Inside Account Manager.
Tips and Tricks
Blocking Payment Tolerances
It's not uncommon that customers short-pay their invoices by a small amount (some might even over-pay!). While some organisations continue to control the debt for the unpaid amount, many simply "write-off" these small amounts; it's not worth chasing up. The decision to write-off the amount depends on many factors such as the value of the short fall and the relationship between the organisation and the customer.
In Business Central, these short payments are called "Payment Tolerances".
General Ledger Setup
It is not the purpose of this article to walk through, in detail, the entire process of setting up Payment Tolerances - that is the job of your friendly neighbourhood PA consultant. But here are some of the main areas to look.
Disallowing Payment Tolerance for Some Customers
Many organisations have "preferred" customers and, to put it nicely, "less-preferred" customers. While you may want to tolerate short-payments from your "preferred" customers, you may want to ensure that some customers pay every cent owing. In Business Central this concept is called "blocking" the tolerance.
On the Customer Card, Payment FastTab, turn on Block Payment Tolerance if you want to force the customer to pay every cent of what they owe.
Of course, even with Block Payment Tolerance turned on, you can still use a journal to manually write-off any short payments from the customer.