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Removing paid transactions

  • 1.  Removing paid transactions

    Posted 6 days ago
    Is there a way as soon as there is no balance it can automatically move to history or do we have to run this routine? So if we apply a credit to an open invoice and there is no more balance or it gets written off that it can move?

    We are just curious if we have to run that routine every time.  Also if that is the case what is the general best practice? When and how often?

    Thanks for assistance.

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    Michael Bender
    Senior Product Owner
    Service Express
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  • 2.  RE: Removing paid transactions

    TOP CONTRIBUTOR
    Posted 5 days ago
    Hi Michael.

    There is no way in Dynamics GP to automatically move a RM transaction to history when it is fully applied.  You must run Paid Transaction Removal (PTR) to do that.
    When you move a RM payment to history, you can no longer mark the payment NSF (Insufficient Funds) as the button will be inactive.  You can still void the transaction.
    There are several reasons you may want to use the NSF button instead of voiding a payment returned by the bank as insufficient.
    1. NSF history is tracked in the Customer Summary window
    2. NSF differentiates returned items from transactions voided for other reasons.
    3. Multiple NSF items are a warning sign for credit worthiness issues.
    4. Using the NSF button enables automatically generating a returned payment charge to your customer if that feature is configured.
    5. Using NSF is faster than voiding the payment when its use is appropriate.

    The NSF feature was designed this way because the time it takes to return an insufficient funds payment can vary widely, especially for international payments.  I have seen payments returned after more than 8 weeks, though that was an outlier and transaction fulfillment has improved over time.  The PTR feature allows companies to adjust the timing of this routine to the performance history of their bank.
    I use a 60 day cut off when running PTR and I run it at least once per quarter and as often as monthly.  A 30 day cutoff is probably fine for many users.  Companies with very high payment volume may want to run PTR more often.   I recommend  running PTR after business hours after running a backup and reviewing the PTR report when completed, especially if it has been many months since the last time PTR was run.  That said, I have never had to restore a backup after running PTR and I have been using Dynamics GP for more than 20 years.


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    Lou Spevack
    American Council on Education
    Washington DC
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  • 3.  RE: Removing paid transactions

    GPUG ALL STAR
    Posted 5 days ago
    Hi @Michael Bender

    There is no way in Sales with out-of-the-box GP ro run the Remove Paid Transactions automatically.

    It is also not something I would recommend you have "automated" either as it does require some manual decisions to be made during the process.

    For instance, choosing NOT to move checks to history allows you to be able to NSF them later in the event the Customer gave a bad payment.

    That said, it is driven by SP's in the SQL database and there are users who have automated this over the years.  Here is a link to someone who has automated it:

    CAVEAT:  I HAVE NOT TESTED OR REVIEWED THIS SCRIPT AT ALL AND I HIGHLY RECOMMEND YOU HAVE YOUR GP CONSULTANT REVIEW THIS BEFORE PUTTING IT INTO PLACE:

    https://opalbiz.com/dynamics-gp/how-to-run-the-rm-paid-transaction-removal-on-a-schedule/


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  • 4.  RE: Removing paid transactions

    Posted 5 days ago
    There is no way to have it done automatically.

    I do the following routines on a daily basis after confirming all payments has been entered in GP for the prior day.

    • Sales - Routines - Paid Transaction Removal
      • Moves all open transactions with a $0.00 to history
    • Sales - Routines - Aging
      • Moves all open transactions (invoices, credits, etc) to the correct aging buckets.

    If we receive an NSF notification from our bank, I use the Professional Services Tools Library to unapply the check and move the transaction from history to open status. Once this is done, I am able to do an NSF and the original invoice(s) will show on the account / statements / aging.

    Please feel free to reach out if you need further assistance.



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    Maria Rito
    Allen Flavors Inc
    Edison NJ
    mrito@allenflavors.com
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