General Journal on Microsoft Dynamics Nav Business Central

Hello Friends,

Today's tutorial is about doing a journal.  The aim of doing journal is to make adjustment in the system. On Microsoft Dynamics Nav Business Central, you can do a journal in different way and you can do it as follows.

1. G/L Account to G/L Account
2. Vendor to G/L Account
3. Customer to G/L Account
4. Bank Account to Bank Account
5. Vendor to Bank Account
6. Customer to Bank Account
7. G/L Account to Bank Account

Step 1:

To open the journal, go on the following menu:

Main Menu --> Department --> Financial Management --> General Ledger --> General Journal.

Step 2:

Fill all the necessary information.

Batch Name	Choose the Batch Name
Line No	The line no will display automatically
Posting Date	Enter the date of the transaction
Document Type	Enter the document type of the transaction
Document No	Document no will be display automatically if no of series has been setup
Account Type	Enter the account Type for the debited amount
Account No	Enter the account No for the debited amount
Account Name	Upon Choosing the account no, the name of the account will display automatically
Description	Enter a description for the transaction
Amount	Enter the amount (if amount to be credited then negative amount else if amount to be debited then amount is positive)
Amount (LCY)	If foreign currency has been used, the amount will be converted to local currency here
Bal. Account Type	Enter the destination account type (Account to be credited)
Bal. Account No	Enter the destination account no (Account to be credited)
Deferral Code	Enter a deferral code if you need to use
External Document No	Add an external document no
Currency Code	enter the currency code you are using.

Step 3:

After entering all the date click on the button POST to validate the date and post it to the correct G/L account.

Click on OK to close

Creation of G/L Budget on Microsoft Dynamics Nav Business Central

Dear Friends,

In this tutorial we will learn how to create a budget for a G/L Account. Budgeting is done when a specific amount is assigned to a specific G/L account in order to have a better control when the amount is being credited or debited.

Step 1:

To create a budget click go on the following menu:

Main Menu --> Department --> Financial Management --> General Ledger --> G/L Budgets

Step 2: 

 Click on the button New and fill the following information

Name	Enter the name of the budget
Description	Give a description for the button
Global Dimension 1 Code	Global Dimension 1 will display automatically
Global Dimension 2 Code	Global Dimension 2 will display automatically
Budget Dimension 1 Code	If you want to put another dimension
Budget Dimension 2 Code	If you want to put another dimension
Budget Dimension 3 Code	If you want to put another dimension
Budget Dimension 4 Code	If you want to put another dimension
Blocked	If the budget is not longer in use

Step 3:

Click on the button Edit Budget and add the following information

General
Budget Name	The Budget name will appear automatically
Show as Lines	Let it be G/L Account
Show as Column	Let it be period
View By	The frequency you want to see, here we have chosen month
Rounding Factor	If you have any rounding factor
Show column Name	Instead of month and year, you can display the name of the month completely
Budget Matrix
Budget Amount	This will represent the total amount of all the amount from months
Month (JAN 2020, FEB 2020)	You will need to enter the amount budget for the specific G/L
Filters
Date Filter	If you want to filter by a specific date
G/L Account Filter	If you want to filter per G/L Account
G/L Account Category Filter	If you want to filter by Account Category
Income/Balance G/L Account Filter	If you want to filter by Income statement or Balance sheet
Global Dimension 1 Code	Choose a global dimension if you need
Global Dimension 2 Code	Choose a global dimension if you need
Budget Dimension 1 Code	Upon creating the budget if you have enter budget dimension it will appear here automatically
Budget Dimension 2 Code	Upon creating the budget if you have enter budget dimension it will appear here automatically
Budget Dimension 3 Code	Upon creating the budget if you have enter budget dimension it will appear here automatically
Budget Dimension 4 Code	Upon creating the budget if you have enter budget dimension it will appear here automatically

Click on OK to close.

Creation of G/L Account on Microsoft Dynamics Nav Business Central

Hello Friends,

In this tutorial, we will learn how to create a G/L account on business central. A general ledger account is used to debit and credit amount while a list G/L Account is know as a chart of account.

Step 1:

To create a G/L Account go on the following menu:

Main Menu --> Department --> Financial Management --> General Ledger --> Chart of account.

Step 2: 

Click on the button New and fill the required information

General
No	Enter the number of the G/L Account
Name	Enter the name of the G/L Account
Name 2	If the name is long, split the name and enter the second part here
Vendor Name	If the G/L account is linked with a vendor enter the vendor name
Bank Account No	If the G/L account is linked with a bank account no enter the account no
Income/Balance	Precise whether the account is an income statement or a balance sheet
Account Category	Select an account category
Account Subcategory	Select an account subcategory
Debit/Credit	Always enter both
Account Type	Select an account type
Totaling	When you will indent the chart of account the totaling field will be populated automatically
Search Name	If you want to enter a search name for the G/L account
Direct Posting	If this field is checked, mean you can post transaction in the G/L Account
Blocked	If the G/L account is no longer in use, you can blocked it so that it will not appear in trial balance
Posting
Gen. Posting Type	Enter a General Posting Type
Gen. Bus. Posting Group	Enter a General Business Posting Group
Gen. Prod Posting Group	Enter a General Product Posting Group
VAT. Bus. Posting Group	If the G/L Account is taxable enter the VAT Business Posting Group
VAT. Prod. Posting Group	If the G/L Account is taxable enter the VAT Product Posting Group
Consolidation
Consol. Debit Acc.	If consolidation need to be done, enter the Debit Account
Consol. Credit Acc.	If consolidation need to be done, enter the Credit Account

Click on OK to close.