Tuesday, April 7, 2020

Setting up Gen Posting Setup on Microsoft Dynamics Nav Business Central

Dear Friends,

This tutorial will provide you an overview on how to configure the General Posting Setup. This setup is done by doing a combination of the Gen. Business Posting Group and Gen. Product Posting Group and their associated G/L Account.

Step 1:

To proceed with the configuration of the General Posting Setup, go on the following menu:

Main Menu --> Department --> Financial Management --> Setup --> Gen. Posting Setup


Step 2: 

Click on the button New and add the following details.

Gen. Bus Posting GroupEnter the Gen. Business Posting Group
Gen. Prod Posting GroupEnter the Gen. Product Posting Group
DescriptionEnter a description
Sales AccountIf it is a sales invoice enter the sales G/L account
Sales Credit Memo AccountIf it is a sales credit memo then enter the sales credit memo G/L Account
Sales Line Disc. AccountIf on the sales invoice line there is a discount enter the sales line discount G/L Account
Sales Inv. Disc. AccountIf the sales invoice contain a discount enter the sales invoice discount G/L Account
Sales Prepayments AccountIf prepayment is being done on sales invoice enter the sales prepayments G/L Account
Purch. AccountIf it is a purchase invoice enter the purchase G/L Account
Purch. Credit Memo AccountIf it is a purchase credit memo then enter the purchase credit memo G/L Account
Purch. Line Disc. AccountIf on the purchase invoice line there is a discount enter the purchase line discount G/L Account
Purch. Inv. Disc AccountIf the purchase invoice contain a discount enter the purchase invoice discount G/L Account
Purch. Prepayments AccountIf prepayment is being made on purchase invoice enter the purchase prepayments G/L Account
COGS AccountEnter your cost of good sold / cost of sale G/L Account
Inventory Adjmt. AccountIf adjustment is being done on inventory, enter the inventory adjustment account
Direct Cost Applied AccountThis G/L Account is linked with purchase transaction
Overhead Applied AccountEnter the G/L account to post indirect post to income statement
Purchase Variance AccountEnter the purchase variance G/L Account
COGS Account (Interim)If you wish to pass through an interim account before impacting the COGS account, enter the interim G/L Account
Invt. Accrual Acc. (Interim)Enter the G/L Account for inventory expected cost transaction
Purch FA Disc. AccountEnter the G/L Account when giving a discount on a requisitioning of a Fixed asset

Setting up Gen. Product Posting Group on Microsoft Dynamics Nav Business Central

Dear Friends,

In this tutorial, we will learn how to setup the General Product Posting Group. This setup specifies what is being sold (item and resources) and what is being purchased (item).

Step 1:

To proceed with the setup go on the following page:

Main Menu --> Department --> Financial Management --> Setup --> Gen. Product Posting Group.


Step 2:

Click on the button New and add the following information.

CodeEnter a code for the posting group
DescriptionEnter a description for the posting group
Def VAT Prod Posting GroupIf you wish to add a default VAT Posting Group
Auto Insert DefaultAlways check this field

Setting up Gen. Business Posting Group Microsoft Dynamics Nav Business Central

Dear friends,

Today's tutorial is on how to setup the General Business Posting Group. This setup shows who is sold to (Customer) and who is purchased from (vendor).

Step 1:

To proceed with the setup go on the following menu:

Main Menu --> Department --> Financial Management --> Setup --> Gen. Business Posting Group.


Step 2:

Click on the button New and add the following information.

CodeEnter a code for the posting group
DescriptionEnter the description of the posting group
Def. VAT Bus. Posting GroupIn case you wish to default a VAT posting group here
Auto Insert DefaultAlways ticked this field