Draw a promissory note
Important
This content is archived and is not being updated. For the latest documentation, see Microsoft Dynamics 365 product documentation. For the latest release plans, see Dynamics 365 and Microsoft Power Platform release plans.
Applies To: Microsoft Dynamics AX 2012 R3, Microsoft Dynamics AX 2012 R2, Microsoft Dynamics AX 2012 Feature Pack, Microsoft Dynamics AX 2012
You can draw a promissory note automatically or in a journal. A promissory note always is based on an open vendor transaction that has a status of Invoiced on the All purchase orders list page.
Note
If the Public sector configuration key is selected, the payment proposal process interacts with the posting invoice in an additional way. You can distribute the payment of an invoice to multiple vendor bank accounts. In the Vendor invoice form, you can select multiple bank accounts and allocate a percentage to each bank account. Based on the vendor bank accounts that you select, single or multiple open transactions are created for the invoice. You can create payments for each journal line without creating a partial payment for each vendor bank account.
When you draw a promissory note, it appears as an open vendor transaction for the vendor in the Vendor transactions form. (Click Accounts payable > Common > Vendors > All vendors. Select a vendor account. On the Action Pane, click Transactions.) You can identify a promissory note transaction by viewing the Note ID, Status, Sequence number, and Remittance number fields on the Overview tab, and the Company and Vendor bank account fields on the Payment tab.
Note
When you transfer transactions to a journal, the way that due dates are handled depends on how you select the transactions. Click Accounts receivable > Journals > Payments > Payment journal. Click Lines. You can click Payment proposal > Create payment proposal to select transactions by using a query that is set up to select the total number of payments that are due as of a specific date. If you use a payment proposal, the date that you enter in the Total payment date field is used for all transferred transactions. If you select transactions manually in the Settle open transactions form, the latest due date of the selected transactions is used.
Draw a promissory note automatically
You can automatically draw promissory notes for vendor invoices that are posted for a method of payment. To enable this functionality, select the Create and post draw journal automatically when posting invoices check box in the Methods of payment - vendors form. For more information, see Methods of payment - vendors (form).
Draw a promissory note in a journal
To manually draw promissory notes for a method of payment, make sure that the Create and post draw journal automatically when posting invoices check box in the Methods of payment - vendors form is cleared.
Click Accounts payable > Journals > Promissory notes > Draw promissory note journal.
Create a journal, and then click Lines.
Select the vendor account for the invoice, and then click Functions > Settlement.
Select the Mark check box for an open transaction.
Close the Settle open transactions form.
Click Post > Post.
A promissory note and a related line that has a status of Drawn and a sequence number of 1 or greater is shown in the Promissory note journal inquiry form. In the Promissory note statistics inquiry form, the number of promissory notes for the Drawn and invoice-confirmed documents status is increased.
When the journal is posted, the vendor summary account is debited and the promissory note summary account is credited.
Print a promissory note document
You can draw and then print a promissory note document to send to a vendor. You can create promissory note documents in a draw promissory note journal. The process of generating promissory note documents is like generating checks. For more information, see Make a payment by check.
Click Accounts payable > Journals > Promissory notes > Draw promissory note journal.
Create a journal.
On the Promissory note tab, select a bank account that has a layout for promissory note documents set up, and then click Lines.
Note
You can select from only active bank accounts.
Select the vendor account for the invoice, and then click Functions > Settlement.
Select the Mark check box for an open transaction, and then close the form.
Note
To transfer open transactions to the journal, click Payment proposal > Proposal by due date.
Click Functions > Generate payments.
Select a promissory note document method of payment, and then click Dialog.
In the Promissory note document form, enter the first number for the promissory note and the number of blank promissory notes, and then click OK.
In the Generate payments form, click OK to print the promissory note document.
Verify that the promissory note document information is correct.
Note
To cancel the promissory note document, click Functions > Cancel promissory note document. The status of the promissory note changes to Canceled. You can see the status in the Promissory notes form, which is opened from the Bank accounts form.
Click Post > Post.
Note
If you cannot post and you receive a message that mentions posting restrictions, you might be set up to post only journals that you created. For more information, see Posting restrictions (form).
See also
Create and validate journals and journal lines
Methods of payment - vendors (form)
Promissory note statistics (form)
Specify when a vendor bank account is active