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.
Reconciling the Dynamics NAV inventory against the G/L can prove to be quite complicated. The number of elements influencing the inventory span across most of the application, and include:
In an earlier blog, we explained the setup for Microsoft Dynamics NAV Subcontracting, and now we will explain the General Ledger Postings for a Sub Contract Production Order.
To reconcile inventory and capacity ledger entries with the general ledger, the related value entries are posted to different accounts in the general ledger. From the Inventory Ledger The below table shows the relationship between different types of inventory value entries and the accounts and balancing accounts in the general ledger.
Have ever look for a option in Microsoft Dynamics NAV to reconcile the cash accounts or any other liquid accounts before posting the transaction to the ledgers?
If you have, then you need to activate the Reconciliation Functionality in the Chart of Accounts. Reconciliation option in the General Ledger Account allows you to see the current balance, and the balance that will be after porting the transaction.
I have previously described how production orders are posting into the general ledger which I have received a lot of positive feedback on. This time I will described how assembly orders are posting into the general ledger in Microsoft Dynamics NAV (which is a lot simpler).
Microsoft Dynamics NAV 2015 (Navision) includes several batch jobs that are provided to help in the transfer of legacy account balances to a newly configured company. You can easily import data for the customer journal, the vendor journal, the item journal, and the G/L journal by using RapidStart. The first step is to create a configuration package that includes the setup tables for those journals.