Setup General Ledger Setup on Microsoft Dynamics Nav Business Central

Hello Guys,

Today's tutorial is about setting up the general ledger setup.  This configuration is essential due to its impact on various parts of the ERP.

To proceed with the setup, go on the following menu:

Main Menu --> Department --> Financial Setup --> Setup --> General Ledger Setup

Allow Posting From	Enter when the user can post transaction
Allow Posting To	Enter till when the user can post transaction
Register Time	This field allows a user to register time on the system
Local Address Format	Enter the format of the employer local address
Local Cont. addr format	Always select after company name
inv. rounding precision (LCY)	This will show the rounding of amount for invoices
inv. rounding type (LCY)	Always choose nearest
Amount rounding precision (LCY)	Rounding of amount in the system
Amount decimal places (LCY)	Specify the decimal place for amount
Unit-amount rounding precision (LCY)	Rounding of unit amount in the system
Unit-amount decimal places (LCY)	Specify the unit amount decimal places
Allow G/L Acc deletion before	If you want to prevent delete a G/L as from a date
Check G/L Acc Usuage	This will check if the G/L has been used before deletion
EMU currency	This will convert any amount to EUR currency
LCY Code	Enter the local currency code
Local currency symbol	Enter the symbol of the local currency
Local currency description	Enter the description of the local currency
pmt. disc excl VAT	Exclude VAT on payment discount
Adjust for payment disc	Adjustment on payment discount
Unrealised VAT	If you wish to post VAT amount to a temporary account first then when the transaction is completed the amount will be transfer to the VAT account
Prepayment unrealised VAT	If you wish to post prepayment VAT to a temporary account first then after completing the transaction the amount will transfer to the prepayment VAT account
Max vat difference allowed	This will show you the range allow to change vat amount in invoices
Tax invoiced renaming threshold	Let the threshold amount be 0.00
Vat rounding type	Specify the vat rounding type
Bank Account Nos	No series for bank account number
Bill-to / Sell-to vat calc	VAT will be calculated on bill-to or sell-to
Print vat specification on LCY	If this field is checked, the system will set the vat amount in local currency
use legacy G/L Entry locking	This field lock the G/L entry table when posting date, this prevent data mixing.
show amount	Set this to amount only

Setting up global dimension

Dimension is used for analytical analysis

To add a global dimension click on the button Change Global Dimensions

Enter the global dimension 1 and global dimension 2 then click on the button start.

Setting up shortcut dimension code

                            

Enter the dimension directly.

I hope that this tutorial has been of help to you.  Follow me for more tutorials.

Create an accounting period on Microsoft Dynamics Nav Business Central

Dear friends,

In today's tutorial, I will show you how to create an accounting period. It is very important to create an accounting period because this defines the period when transaction can be done.

To proceed with the creation on the accounting period,

Step 1:

Go on the following menu:

Main Menu --> Department --> Financial Management --> Setup --> Accounting Period.

Click on the button New

Step 2:

Click on the button Create Year.

a) Enter the start date of the financial year

b) Enter the no of period (normally 12 months)

c) Enter the period length (1 M = 1 Month)

d) Then click on OK

After clicking on OK, you will see the system will generate the 12 month period.

Add a currency on Microsoft Dynamics Nav Business Central

Hello friends,

Currency on Microsoft Dynamics Nav Business Central is used for the automatic conversion of foreign currencies.  In today's tutorial, we will learn how to set up Currencies on the system.

Step 1:

To add a currency go on the following path:

Main Menu --> Department --> Financial Management --> Setup --> General --> Currencies

Add the following information:

Code	Enter a code for the currency
Description	Give a description to the currency

Step 2:

After creating the currency we need to enter the exchange rate for the currency so that the system can do the conversion.

To create an exchange, click on the button Exch. Rate and then on the button New.

Now add the following information:

Starting Date	The date the exchange rate will be effective
Currency Code	The currency code
Relational Currency	Let this field be blank
Exchange Rate Amount	Use 1.0
Relation Exch. Rate Amount	Enter the currency exchange rate
Adjustment Exch Rate Amount	Let the amount to 0.0
Relational Adjmt Exch Rate Amt	Let the amount to 0.0
Fix Exchange Rate Amount	Let the field be Currency

Note: whenever you need to change the exchange rate, do not discard the old one.  Just add a new line with a new effective date. The aim is to keep a history of the exchange rate.

Hopefully, this tutorial answers your questions. Follow me for more tutorials on Microsoft Dynamics NAV Business Central and get cracking!

Add a No. Series and No. Series Line on Microsoft Dynamics Nav Business Central

Hello Friends,

In this tutorial, we will learn how to add a no. series and no. series line. No. series is an important setup on NAV which will allow the system to generate document no when doing a transaction.

To proceed with the setup, go on the following menu:

Step 1:

Main Menu --> Department --> Administration --> Application Setup --> General --> No. Series

Step 2:

Click on the button new

You need to add the following information:

Code	Give a code to the no. series
Description	Give a description to the no. series
Starting No	This setup will be done in line
Ending No	This setup will be done in line
Last date used	the last date the no. series has been used on the system
Last no. used	The last number used on the system
Default nos	Default number will prevent someone entering a document no by their own
Manual nos	Manual number will allow the user to enter a specific document no by their own
Date Order	This field will allow us to order the date

Step 3:

To add a line for this no. series click on the button line.

Enter the following information:

Starting Date	Date when the number will be effective
Starting No	The first number the system will generate
Ending No	The last number you wish to generate from the system
Last date used	The last date the no. series has been used on the system
Last no. used	The last number used on the system
Warning No	The last number which will alert the user that no series is near over
Increment by no	States the number that the system will increment
Open	Indicates that the no series line is open

Close page.

Change Company Information on Microsoft Dynamics Nav Business Central

Hello Friends,

In today's tutorial, I will show you how to change company information on Microsoft Dynamics Nav Business Central.

Steps:

• Open Navision and go on the following menu:
• Main Menu --> Department --> Administration --> Application Setup --> General --> Company Information

• Fill all necessary information such as Name, Address and etc.
• Close the page Company Information.