This Dynamics NAV Coffee Break provides simple, easy to follow instructions that explain how to create default expense accounts for vendors in Dynamics 365 Business Central. Many companies have vendors who send invoices monthly, and always with the same GL account. In this video, we show you how to skip the step of having to enter that account every time with step by step instructions on how to set up default general ledger accounts by Vendor for purchase invoices.
At the end of every month, we will inevitably get some questions on why their inventory valuation figures does not match the G/L inventory account. We would investigate and find out why and provide solutions on how to fix them.
Some of the reasons are pretty common so I’d thought I compile a list of reasons why your inventory valuation does not match your general ledger, and how to fix them.
Dynamics NAV provides a very time efficient tool to generate financial reports on the fly. The functionality is called: “Account Schedules”. A very NAV specific term (so I understand if you don’t know what it is).
I can tell you this, it takes about 30 seconds to generate a P&L and a Balance Sheet via Account Schedules and maybe a few more minutes if you want to format the columns to make it look nicer.
Previously each G/L account was identified as either a Balance Sheet or Income Statement account, then based on your chart of accounts grouping would give you the reporting layout. In NAV 2017 using account categories, you can assign to the G/L account level, regardless of the begin and end total accounts ranges. For example, grouping together any operating and non-operating expenses.
This article and video continues the series of articles dedicated to Dimensions and explains how to assign Dimensions and Dimension Values to master data and G/L Accounts. In this article, the term “master data” is used to refer to such data as Customers, Vendors, and Items.