MS Dynamics 365 for sales is a great CRM tool that provides businesses with a 360-degree view of their customers. Moreover, it empowers them by facilitating well-informed data-driven decisions based on valuable insights. Similarly, it drives personal engagement, streamlines customer relationships & promotes brand loyalty.
We know that sales order processing is an integral part of the sales cycle for any business. And with Microsoft Dynamics 365 for Sales, businesses can efficiently manage all the aspects of sales order processing, such as order management & invoice processing.
This blog will look at how businesses can effectively manage their sales orders & invoices using MS Dynamics 365 for sales.
What is a Sales Order?
A Sales order is a confirmed request to deliver goods and services once the customer accepts the quote. Using MS Dynamics 365 for sales, businesses can put multiple line items on the sales order. By doing so, they can effectively track the products and their quantities and prices.
Creation of Sales Order from Sales Quote
Using MS Dynamics 365 for sales, businesses can directly create a Sales Order from a sales quote. Moreover, they can easily add the sales quote’s contents to the order record. Likewise, businesses can also edit the items and products on the order record depending on their requirements.
Creation of Sales Order manually
Businesses can manually create sales order with MS Dynamics 365 for Sales without using sales quotes. However, in this case, they must provide details like a potential customer, name, address, price list information, etc.
Working With Pricing
MS Dynamics 365 for sales offers the option of locked & unlocked prices. While on the one hand, it confirms that businesses are using correct pricing. On the other hand, it also ensures that they use only existing products with the current pricing model. Moreover, they can lock the prices by using the “Lock pricing” feature.
What is Locked Pricing?
In MS Dynamics 365 for Sales, whenever businesses create sales orders from a sales quote, the pricing is known as “Locked Pricing”. As a result, in such scenarios, businesses cannot overwrite the pricing information on the sales order. Moreover, they can add products (both write-in and existing) as line items. They can also define the prices of the write-in products while adding them. However, they cannot change the pricing for the existing items.
What is Unlocked Pricing?
With MS Dynamics 365 for Sales, businesses can easily unlock the pricing on the sales order. They can do so by using the “Current Pricing” feature. Once the pricing is unlocked, businesses can overwrite any pricing column depending on their requirement.
Delivering Sales Order
By using MS Dynamics 365 for Sales, businesses can track the status of their sales orders. And based on their tracking status, they can mark the sales order as complete or partial. Moreover, it also offers the option of cancelling an existing sales order. Besides, businesses can do so through the order record itself.
What is a Sales Invoice?
A Sales invoice is an order that records the transaction between the buyer and the seller.
Generation of Sales Invoice from Sales Order
With Ms Dynamics 365 for Sales, businesses can generate a sales invoice directly from a sales order. As a result, the products associated with the sales order are automatically added to the sales invoice. Moreover, businesses can also add or remove additional products as per their requirements. Similarly, businesses also can lock & unlock the pricing information, just like the sales order.
Further, by using MS Dynamics 365 for sales businesses can also generate sales invoices manually.
Closure of Sales Invoices
Businesses using MS Dynamics 365 for sales can mark the sales invoice as paid once the customer is done with the payment. Furthermore, it offers two options: Complete & Partial.
