What is Payment Tolerance?
You can set up a payment tolerance to close an invoice when the payment does not fully cover the amount on the invoice.You can use payment tolerances so that every outstanding amount has a set maximum allowed payment tolerance. If the payment tolerance is met, then the payment amount is analyzed.
How to setup payment Tolerance in Business Central/NAV?
1. Go to general ledger and setup to set payment tolerance
2. Put the payment tolerance
Payment Tolerance %:- Maximum percentage to allowed to post to the payment tolerance account.
Max. Pmt. Tolerance Amount:- This is the maximum amount the tolerance will be posted.
Customer Posting Group will have the account where payment tolerance will be posted.
What is customer posting group?
This posting group maps the accounts receivable account, payment discount accounts, invoice and application rounding accounts, interest and fee accounts relating to customers.
3. Let us adjust the Invoice of amount 990.25 against payment of 990. The system will post .25 to payment tolerance account.
4. System would prompt for payment tolerance warning.
5. After posting the payment, Tolerance will be posted to tolerance account.
You can set up a payment tolerance to close an invoice when the payment does not fully cover the amount on the invoice.You can use payment tolerances so that every outstanding amount has a set maximum allowed payment tolerance. If the payment tolerance is met, then the payment amount is analyzed.
How to setup payment Tolerance in Business Central/NAV?
1. Go to general ledger and setup to set payment tolerance
Max. Pmt. Tolerance Amount:- This is the maximum amount the tolerance will be posted.
Customer Posting Group will have the account where payment tolerance will be posted.
What is customer posting group?
This posting group maps the accounts receivable account, payment discount accounts, invoice and application rounding accounts, interest and fee accounts relating to customers.
3. Let us adjust the Invoice of amount 990.25 against payment of 990. The system will post .25 to payment tolerance account.
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