At the end of a day at a retail store, we need to make sure that all of the transactions are fed back into D365 appropriately. We also need to make sure that our liquid currencies (cash, check, as examples) were taken and counted correctly in the store. In this blog I'll talk about the different options for calculating and posting statements.
Note that I will not be talking about trickle feed functionality here, but the legacy statement posting process.
What Does a Statement Do?
End of day statements do quite a few things. They take all of the retail store transactions and do the following to them:
Optionally aggregate them into less sales orders
Creates sales orders
Invoices the sales order
Creates and posts payment journals corresponding to the payments in the system (can also be aggregated)
Settles the payments against the invoices (except for on terms) so there are no balances on the customer account
Inventory is deducted according to the transactions placed
This is all done behind the scenes, and all we do is calculate the statement and post it.
Calculating Statements
Statements can be calculated a few different ways:
Shift - Calculate all transactions in different payment methods based on the different shifts that were started and ended during the working day (or the last time the statement calculation process has been run)
Date/Time - Calculate all transactions given a specific date and time from the last time the statements were calculated
POS Terminal - This will calculate the transactions for all terminals used in previous transactions separately
Operator ID - This will create lines for each staff member who used the system and has a transaction associated to them
Statements pull in all transactions that have been pulled in from the P-0001 job that haven't already been put on a statement. Keep this in mind because this could mean previous days' transactions if statements were not run appropriately.
End of Business
Some stores (like 24 hour locations) have closing times or "closing" times where their "day" ends after midnight can be configured to say that the end of the day (in a date/time calculation) are at, say, 2 am instead of midnight.
Posting a Statement
After a statement has been calculated, it will need to be posted. Posting the statement does everything mentioned previously. This must be run in batch mode.
The general process for this is to allow the system to aggregate sales orders that have the same customer to save on processing time. However, some companies have different requirements for this. Note that this does not affect the way that things can be returned, it just makes less sales orders in the system. That being said, aggregation can be turned on and off in the Commerce parameters.
Error messages will display if statements don't post. These errors could be anything from a lack of inventory to be deducted to a missed data point in a sales order. A new-ish (about a year old or more) feature is that we have the ability to go in and edit retail statement transactions after they've errored out. Make sure that this is used to enable statement posting and reconciliation of cash.
Currency Reconciliation
At the end of the day, retail stores are there to make money. During statement posting all currencies are posted to their configured GL accounts (through the retail store). We also have the opportunity to count and recount forms of payment that we've determined need to be counted. Generally speaking, this includes cash and checks. Credit cards generally are not counted because the batching process of credit card processors will cover this.
Configurations on the retail store dictate how much of a countable currency discrepancy is allowed per transaction, per statement, and per day. If the difference amount is higher the statement will fail to post and there will either need to be a recount of the incorrect currency, or we need to adjust the limit to allow the statement to post and talk to the employee about cash processes.
This is a very high-level glance at the statement functionality in D365. Please let me know if there are any detailed questions and I'll update this blog post!
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