A regulatory feature update for UK Statistics on payment practices in the United Kingdom version of Microsoft Dynamics 365 for Finance and Operations

Companies in United Kingdom must prepare statistics on payment practices report.

Changes in the hotfix include report with statistics on payment practices. To resolve the issue, you need to download KB4341641 and import the following or a higher version of the ER configurations from LCS shared asset library:

• Statistics on invoices.version.26
• Statistics on invoices model mapping.version.26.17
• Statistics on payment practices (UK).version.26.10

Fix downloading instructions are here:

https://docs.microsoft.com/en-us/dynamics365/unified-operations/dev-itpro/analytics/download-electronic-reporting-configuration-lcs

Businesses in UK in scope of reporting requirement must prepare and publish information about their payment practices and performance in relation to qualifying contracts, for each reporting period in the financial year. The information for each reporting period must reflect the policies and practices which have applied during that period, and the business's performance for that period.

The report must be published on a web-based service provided by or on behalf of the government within 30 days of the end of the reporting period.

In scope of report, there are some narrative descriptions of reporting practices as well as the following statistics:

• The average number of days taken to make payments in the reporting period, from the date of receipt of invoice.
• The percentage of payments made within the reporting period which were paid in 30 days or fewer, between 31 and 60 days, in 61 days or longer.
• The percentage of payments due within the reporting period which were not paid within agreed terms.

The feature introduces a report which calculates and exports statistics on payment practices with the required details.

The report is exported in Excel format and has two tabs:

Payments_made – contains statistics of types (1) and (2) above and details per vendor account. In detailed view, it also contains details per payment made within a reporting period.

Payments_due – contains statistics of type (3) above and details per vendor account. In detailed view, it also contains details per invoice due within a reporting period.

Before generating the report, user should post invoices and payments and settle them properly. Not settled payments can't be exported in the Payments_made tab, since there is no information about invoice to be paid with this payment and number of days taken to make payments can't be calculated.

User has now a possibility to identify the date when purchase invoice was received and further use this date for calculating the number of days taken to make payments. Fill a new field “Receive document date” in the following forms:

On the vendor invoice form – in the Vendor invoice header tab, group of fields Invoice dates, fill during an invoice posting. The Document receive date will be pre-defaulted from the Invoice date when user enters an Invoice date.

On the invoice journal lines – in the General tab, group of fields Receive document date, fill during a journal line creation.

On vendor transactions – in the General tab, fill after an invoice posting and before a full settlement.

Run the Statistics on payment practices (UK) report from the list of all reports in Electronic reporting workspace.

In the dialog Electronic report parameters, fill in the fields:

After user runs the Statistics report on payment practices, the statistics calculated on the report should be used for preparing the full reporting on payment practices.

It's user's responsibility to prepare full reporting and publish it in accordance with official requirements.

If you are encountering an issue downloading, installing this hotfix, or have other technical support questions, contact your partner or, if enrolled in a support plan directly with Microsoft, you can contact technical support for Microsoft Dynamics and create a new support request. To do this, visit the following Microsoft website:

https://mbs2.microsoft.com/Support/newstart.aspx

You can also contact technical support for Microsoft Dynamics by phone using these links for country specific phone numbers. To do this, visit one of the following Microsoft websites:

Partners

https://mbs.microsoft.com/partnersource/resources/support/supportinformation/Global+Support+Contacts

Customers

https://mbs.microsoft.com/customersource/northamerica/help/help/contactus

In special cases, charges that are ordinarily incurred for support calls may be canceled if a Technical Support Professional for Microsoft Dynamics and related products determines that a specific update will resolve your problem. The usual support costs will apply to any additional support questions and issues that do not qualify for the specific update in question.

How to obtain the update

The updates are available for manual download and installation:

Microsoft Dynamics 365 for Finance and Operations

Note This is a "FAST PUBLISH" article created directly from within the Microsoft support organization. The information contained here in is provided as-is in response to emerging issues. As a result of the speed in making it available, the materials may include typographical errors and may be revised at any time without notice. See Terms of Use for other considerations.