Creation of Vendor Posting Group on Microsoft Dynamics Nav Business Central

Dear Friends,

Today we will learn how to create vendor posting group. This setup shows which G/L account will post the transaction involving the vendor. This posting group defines account for payable, service charge, payment discount account, interest, additional fees and invoice rounding amount.

Step 1:

To create the posting group, go on the following menu:

Main Menu --> Department --> Financial Management --> Setup --> Vendor Posting Group

Step 2: 

Click on OK and fill all the necessary information.

Code	Enter a code for the vendor posting group
Description	Enter a description
Payable Account	Enter the payable G/L account
Service Charge Account	Enter the service charge G/L account
Debit Rounding Account	Enter the rounding G/L account when doing a debit
Credit Rounding Account	Enter the rounding G/L account when doing a crebit
Debit Curr. Appln. Rndg. Account	Enter the G/L Account to post rounding differences when applying different currencies
Credit Curr. Appln. Rndg. Account	Enter the G/L Account to post rounding differences when applying different currencies

Click on OK to close

Creation of Customer Posting Group in Microsoft Dynamics Nav Business Central

Dear Friends,

In this tutorial, we will learn how to create a customer posting group and which G/L account to associate with the posting group. 

The customer posting posting group determines which G/L Account will post the transaction involving the customer. The customer posting group specifies the G/L Account for customer receivable, service charge, payment discount amount, interest, additional fees and invoice rounding amount.

Step 1:

To create a customer posting group, go on the following menu:

Main Menu --> Department --> Financial Management --> Setup --> Customer posting group.

Step 2:

Click on the button New and filled all the required information.

Code	Enter a code for the customer posting group
Description	Enter a description
Receivable Account	Enter the receivable G/L account
Service Charge Account	Enter the service charge G/L account
Debit Rounding Account	Enter the rounding G/L account when doing a debit
Credit Rounding Account	Enter the rounding G/L account when doing a credit
Debit Curr. Appln. Rndg. Account	Enter the G/L Account to post rounding debit differences when applying different currencies
Credit Curr. Appln. Rndg. Account	Enter the G/L Account to post rounding credit differences when applying different currencies

Click on on OK to close.

Creation of a Deferral Template in Microsoft Dynamics Nav Business Central

Dear Friends,

In today's lesson, we will learn how to create a deferral template but first of all lets see what is the word deferral means in the world of accounting. A deferral is always consider as a amount that was paid or received but it cannot be reported on the current income statement, since it will be an expense or revenue for a future accounting period.

The amount will be deferred to a balance sheet account until a future accounting period when it will be transferred to the income statement.

Step 1:

To create a deferral template go on the following menu:

Main Menu --> Department --> Financial Management --> Setup --> Deferral Template.

Step 2:

Click on the button new to create a template and fill all the required information

Deferral Code	Enter a code for the deferral
Description	Enter a description
Deferral Amount	Enter the deferral Amount
Deferral %	Enter the deferral % normally we deferred at 100%
Calc. Method	Enter the calculation method of the deferral template
Start Date	Enter when the deferral template will start
No of Periods	Enter the number of period
Period Desc	Add a description for the period

Click on OK to close.