A company procures raw materials from various suppliers to manufacture its products.
As part of the accounts payable process, the finance team reimburses suppliers to ensure timely settlement of accounts.
You need to reimburse a supplier.
Which type of journal entry should you use?
This item tests the candidate’s knowledge of journaling concepts in Dynamics 365 Finance and the various journal entry types available for recording a transaction. The vendor payment journal is correct as it records all disbursement transactions made by a company to its vendors to settle any accounts payable. The vendor invoice pool
is used for incoming vendor invoices where they are temporarily stored in a queue before they undergo further processing and approval. The invoice approval journal provides structure to the review and approval of incoming vendor invoices before they are processed for payment. The fixed asset journal is only used to record transactions related to fixed assets.