Summary
This chapter covered the Accounts payable module in Microsoft Dynamics AX 2012 R3, its integration with other modules, procurement, and inventory, and then looked into exploring the vendor master data and the characteristics that affect vendor transactions. We also learned about the controls for invoice matching, three-way matching for products and two-way matching for services, putting vendors on hold, and invoice numbering. Then, we moved on to exploring the accounts payable transactions vendor invoice, the prepayment invoice and its processing, advance payments, and the settlement mechanism.
In the next chapter, we will discuss accounts receivable master data, control, and transactions.
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