Every successful organization adopts a sales process that is best suited to meet its business goal of revenue generation. From generating leads to converting them to paying customers, D365 for Finance and operations is flexible and highly capable of facilitating simple to complex sales processes.
This a three-part series blog that details out how to use D365 Finance and Operations to effectively manage the entire cycle of the sales process.
Let us look at how D365 F&O can be used effectively to manage the sales process of a company.
Alpine systems Ltd sells car audio and other digital entertainment products. The diagram below describes the sales cycle at Alpine systems.
Quick recap
In the first part of the Order to Sales process blog series, we learnt how to create a new lead and convert the lead to an Opportunity, raise a quote from the opportunity and finally convert the opportunity to customer.
Sales order creation and Prepayment
In this blog, we are going to learn how to create a sales order from the quote and then create a prepayment for the sales order.
Arnie is a Salesclerk at Alpine systems ltd. Arnie is responsible for raising Sales orders for customers who purchase products from Alpine systems ltd.
As a standard practice of the company’s payment terms, a fraction of the total amount is collected from customers as a deposit when the sales order is confirmed. Debbie is the Accounts receivable clerk at Alpine systems ltd and records the deposit amount as a prepayment against the sales order.
Confirmation of Sales quote and Sales order generation
When a sales quote is confirmed, a sales order is generated automatically. To confirm the Sales quotation, click on Followup> Generate> Confirm.
To view the generated Sales order, click on General> Related information> Sales orders in the action pane.
When all information is updated in the sales order, you can confirm the sales order by clicking on Sell> Generate> Confirm sales order.
Prepayment towards Sales order
The next step is to create a prepayment and associate it with the Sales Order. To do this click on Accounts receivables> Payments> Customer payment journal. Click New and select a customer payment journal name and then click on Lines.
Enter the customer account ID, deposit amount, Method of payment, and then type the Sales order number in the Reference field.
Click on the Payment tab and set the Prepayment option to Yes.
You can now click on Post to post the payment journal.
You can view the Payment against the Sales order by clicking on Sell> Prepayment> Prepayment in the action pane within the Sales Order.
This brings us to the end of the second part of this blog series. In the next part, we will look at how to create a purchase order from the sales order and fulfillment and final settlement of the sales order.