Tip of the Day: In Microsoft D365 Finance and Supply Chain (D365 F&SC), Part 8 What’s in Credit Management? This blog is the next part of a multi-part blog series detailing the Credit Management functionality in Dynamics 365 for Finance and Operations. Look for additional releases in this series!
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What are Credit Limit Adjustments?
At first glance, Credit limit adjustments look at act like a journal. . .and in many ways they are like a journal but the reason that “journal” is not part of the menu option name is because they don’t create financial transactions. So, what are Credit limit adjustments and how are they used?
Credit limit adjustments are used to update a customer or a group of customer’s Credit limits and to create Temporary credit limits.
Note 1: Credit limits can be manually updated (based on the flag setting in Credit and collections parameters)on the Customer or through Credit limit adjustments, but Temporary credit limits can only be updated through Credit limit adjustments.
Note 2: Credit limit adjustments can also be accessed from the customer record. This is a print screen of where to access Credit limit adjustments on the customer record.
To create a Credit limit adjustment, go to Credit and collections > Credit limit adjustments > Credit limit adjustments.
There are 2 Credit limit adjustment types:
o Credit Limit – Use this option if you want to update the customer’s Credit limit.
o Temporary credit limit – Use this option if you need to enter a new Temporary credit limit.
Here’s an example of the Credit limit adjustment type = Temporary credit limit. To create a new record, click New > select Credit limit adjustment type = Temporary credit limit > enter a Description > click Lines.
To add Temporary credit limit for a customer, click Add customer adjustment. To add Temporary credit limit for a customer credit group, click Add credit group adjustment.
You also have the options of generating the lines using the Generate menu. Once the List has been generated, you can then manually add, edit, delete the lines on the adjustment.
Note: To see how to setup the logic for the Automatic credit limits, see the Automatic credit limits section.
If a workflow is active, once the lines have been added (or generated), you can now submit the adjustment for approval by clicking Workflow > Submit.
Once approved (if a workflow is not active, you can post without an approval), Post the adjustment.