Maybe you can help?
I am looking for business case examples for new functionality coming to Business Central, General Availability in October 2023. The feature is listed as the ability to use different general ledger accounts for payables, receivables and called Multiple Posting Groups.
Multiple Posting Groups – Feature Explained
Currently in Preview, what I have been able to ascertain is that once configured, users will be able to select a different vendor or customer posting group on a transaction. The ability to do this is enabled globally, and then specifically for a vendor or customer on their card. Through setup on Vendor and Customer Posting Groups, alternative groups are defined for alternative selection if this feature is enabled for a vendor or customer.
The example of “bad debt” provided in the release notes, doesn’t make sense to me. Use the link here to see the release notes.
An Accounts Payable Business Case?
When a sales tax penalty is incurred, the amount due is not sales tax collected and the controller may want to see this amount in a different payables account. For example, in Accounts Payable G/L Account instead of Sales Tax Payable G/L Account where payables for this tax authority are normally posted.
How it would work with Multiple Posting Groups
- In Purchase & Payables Setup – Allow Multiple Posting Groups, Check Multiple Posting Groups is automatically set to Alternative Groups
- In Vendor Posting Groups – Assign the Vendor Posting Group used for trades as an Alternative Posting Group to the Vendor Posting Group assigned for tax authorities.
- On the Vendor, enable Allow Multiple Posting Groups (Invoicing FastTab).
- When entering the purchase transaction, the Vendor Posting Group field is enabled and can be changed, allowing this transaction to post to a different payables account.
Now it’s your turn
In comments, please share your idea either for purchase or sales of how this feature will benefit users of Business Central. Go for it! There are no wrong answers here.
