You may ask what is the difference between “Recurring Journal” and “Standard Journal” in Microsoft Dynamics NAV?
The following table will give you an idea difference between these two journals.
Standard Journals are journal entry lines that can be saved as template for the transactions that are posted frequently with few or no changes. It allows you to create a journal entry and save the G/L Accounts, with the option to save the amounts as well.
Let’s confess before I start: getting standard tests to run against your code is by no means rocket science. However, I dare say many peers out there haven’t even touched the Test Toolkit, seemingly looking at it as an unbearable threshold. Too much work. Of no relevance to their code. Unknown = unloved (as my mother used to say).
Recently, I’ve been contacted by one of our readers on why their inventory cost was wrong. This particular company utilizes standard cost and the inventory cost never matched their inventory G/L account. Learning about how they updated standard cost, it was very apparent what went wrong. It was how the user updated their standard cost.
To begin a discussion about setting up time with standard costs in Microsoft Dynamics NAV, we must first examine the dilemma of trying to include setup as part of the “Direct” cost of an item.
Setup is a one-time cost; it is not a cost that reoccurs for each piece that is produced. So the question is, how do you split the one-time cost and assign each item that is produced as part of the setup cost?
If I could save hours and reduce some of the headaches every accountant goes through every month end, you would consider me a genius.
Sadly, I am not a genius, but I would like to introduce you to a Microsoft Dynamics NAV tool that may make some of the repetitive tasks accountants do each month to prepare their financial statements a little easier. The tool is called Standard Journals and was introduced in Dynamics NAV version 5.0. (I will show how this works in Dynamics NAV 2015, but the feature is available in older versions.)