Provisional Entry Functionality in D365 BC:
(1) What is Provisional Entry? Provision entries are entries that are made to account for expenses that have not been accounted for in the period to which it relates. Hence the provision is created by debiting the expenses and crediting the party account or liability account. Provisions help companies plan for these expenses by allocating money in advance. Provisions are marked as current liabilities on the company’s balance sheet and are included within the appropriate expense category on the company’s income statement.
(2) Now for this, ERP Consultors developed a custom solution for the customer. For steps of development refer to this link → Provisional Entry Feature Development Steps in D365 BC.
(3) In this blog we will get to know the functionality of the custom solution of Provisional Entry in D365 BC.
(4) Open D365 BC and type “Provisional Entry Voucher”, as shown.
(5) After that, Provisional Entry Voucher opens and enters the entry as per the business requirement. For Field detailing refer to the link → How to Create Journal Voucher in D365 BC.
(6) After that, Post the entry by using Option Post (Shortcut Key F9), as shown.
(7) Now press Yes option in the confirmation message, as shown.
(8) Now after posting, the entries will be shown in the Posted Provisional Entries, as shown.
(9) After that posted entries page opens. On that page, you can reverse the entries as per the business and accounting standards, as shown.
(10) After using the above feature, the system auto-creates the reversal entries, Press the “Yes” button, as shown.
(11) System asks for posting reversal entry at which date and press “OK”, as shown.
(12) System posts the reversal entry as per the defined posting.