Learn how to use a new feature that became available in Microsoft Dynamics NAV 2017, Account Categories, which automatically creates account schedules and financial statements.
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.
To help companies maintain an overview of their items and to help them sort and find items, it is useful to assign item attributes to items and to organize them in item categories. When customers inquire about an item, either in correspondence or through a web shop, they can then ask or search according to attributes, such as height and model year. In such a system, a category is a parent in a hierarchy of loosely coupled child attributes.
I recently have explored some of the new features that Dynamics NAV 2017 has available, and the Account Subcategories deserves a closer look. In a prior blog I mentioned how the Account Category in Dynamics NAV 2017 can be used to set the Income/Balance Field. In this blog, we will discuss Account Subcategories.