One of the most controversial questions when running workshops with clients surrounds which costing method will be used for inventory. For users in the finance department, the inventory valuation comprises a large portion of their balance sheet reporting; and if salesperson bonuses are based on sales profitability, it’s very important to them as well.
One of the many helpful features for ERP users in Microsoft Dynamics Business Central is Inventory Adjustment. This feature makes it fast and easy to make adjustments to your inventory, while making appropriate journal entries in the back end. Watch this brief video to see how to use this time-saving feature in Dynamics 365 Business Central.
Prior to Microsoft Dynamics NAV 2013 R2, developers had to customize Dynamics NAV to disable posting negative inventory, but in NAV2013R2 Microsoft have starting offering this feature as standard. One can now set up so that outbound posting that brings inventory below zero is blocked. This can be set up per item or for all items. We can put a check mark in Prevent Negative Inventory field, which specifies if you can post transactions that will bring inventory levels below zero.
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.
Many clients have been asking recently about Microsoft Dynamics NAV’s capabilities for handling seasonal forecasting. Most clients already know that Dynamics NAV can automate your inventory replenishment by maintaining minimum quantity on hand, but many are not yet aware that you can take it a step further and set sales/production forecasts for inventory over a period.
Most of the projects that I have worked on were on North American version of Dynamics NAV. I’ve worked on version 2.0 and up. There were a couple of W1 projects as well and a couple of European localization. If you have worked with any implementation where the the databases are large. By large I mean more than 100 gig in size and more than 100 million gl transaction, you probably have dealt with performance issues.