Invoice registration in Microsoft Dynamics AX 2012 is used to record the arrival all vendor invoices received by your organization which then allows the invoice to be transferred to the invoice pool, giving an opportunity to approve the invoice before it becomes an official accounts payable. Described below is the AX 2012 process of registering invoices, transfer to the invoice pool, then posting the approval of the invoice resulting in a payable due to the vendor.
There are 3 main steps that occur during the invoice registration and approval process:
- Registering Vendor Invoice for Approval
- Ready Registered Invoice for Approval
- Approving the registered invoice.
Once the steps above have been completed the vendor invoice(s) will be released to the invoice pool for payment officially creating the payable for the vendor. Details for each step are outlined below:
Registering Vendor Invoice for Approval
- The first step of vendor invoice approval is to create the invoice. This can be done by navigating to Accounts Payable > Journals > Invoice > Invoice register
- Click ‘New’ to create a new journal select journal name and enter a description
- Click Lines button to open lines of the invoice registration.
- Enter the necessary invoice line information
- The “Approved By” field denotes which user will have the ability to approve to deny the invoice. The user must manually select the party who will be approving the journals.
- Click validate to check the invoice
- Then click Post to post the invoice registration. The invoice is now transferred to the invoice pool for approval.
- The invoice will then be created and posted but will not be able to be paid until it is approved by the selected approval party.
Ready Registered Invoice for Approval
Invoices waiting for approval can be found by navigating to Accounts payable > Inquiries > Invoice Pool.
- In order for a registered invoice to be approved and released for payment, an invoice approval journal must be created. To create an invoice approval journal navigate to Accounts payable > Journals > Invoice Approval Journal
- Create a new journal and select a Name and a Description.
- Navigate to the lines
- Click find vouchers to find invoices to approve.
- Select the voucher(s) and click Select to pick one voucher or Select all to choose all vouchers found.
- Once selected the line will automatically be created for the voucher.
Approving Registered Invoice
- Once the lines have been created the invoice can be accepted and ready for approval by selecting>Approval>Report as ready.
- The approval user can now review, approve, validate and post the approval journal. Once posted the vendor invoice is available for payment.