Inventory to GL Reconciliation – WIP
Inventory reconciliation for companies using production orders is not complete without discussing production order work-in-process (WIP). Flushing methods can impact when entries are made to WIP as can subcontract purchase orders. The following flow is based on manual flushing. Consumptions against a production order add dollars to WIP (debit for you accountants) and reduce amounts […]
Recurring Journals – Reverse Date Calculation
If you have been using Business Central, you are probably acquainted with Recurring Journals. I’ve been using them for years, and users always get upset when I tell them that reversing journals are posted one day after the posting date in the journal. So a reversing journal posted 12/31/21 will reverse 1/1/22. The question is […]
Recurring Journals – Balance by Dimension
If you have been using Business Central, you are probably acquainted with Recurring Journals. But wow, the new options for BD Balance by Dimension and RBD Reverse Balance by Dimension have so many uses! Need to allocate an amount posted to one dimension to many dimensions? Maybe you record professional fees to a Corporate department […]
Recurring Journals – A few more things
Recurring Journals have features that you may not be using but can be helpful. I just finished two blogs, one on Balance by Dimension and one on Reverse Date Calculation. Let’s review Allocations and Expiration Dates; two features that can be very useful even if used often. A scenario where you an amount to writeoff […]
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Free webinar meetings for BC/NAV Users. Check NAVUG.com and community.dynamics.com/usergroups for more information. Meeting times are 12:00-1:30 cst. Come join and learn. Interested in a specific topic, let us know. Want to share your knowledge, let us know.
Make Month End Easier – Use Deferrals – Setups Explained
Ever been told ‘take a minute to do it right the first time’? This old adage keeps you from having to redo things over and over. And exactly what using deferrals in BC can do. Rather than having to remember to post recurring journals for all those prepaid expenses, why not process them when you […]
Inventory to GL Reconciliation – Chapter 6 – Abnormal Date
First thought, is ‘how can a date be abnormal?’ A date is a date, right? Well, the point is that it’s abnormal to have an invoice date on a purchase order before the receipt date of the product. Okay, I realize that for many of us this is not true, we are required to pay […]
Make Month End Easier – Use Deferrals – Transactions Explained
(Note: Release 2022 Wave 1 will have some date improvements in both Setup and in Transactional processing) Be sure you’ve read the Deferrals Setup and have worked through the steps. As transactions are to be processed. The examples in this blog use purchase transactions but the same functions and features apply to sales transactions as […]
Inventory to GL Reconciliation – Chapter 8 – Purchase Orders
First, I tell you that you might have abnormal dates and now I’m saying that your purchase orders can cause an out of balance issue. You’re probably thinking what? How? Let’s think through this flow: PO has quantity and unit cost on each line Purchase Order Receipt – creates an item ledger entry, value ledger […]
Inventory to GL Reconciliation – Chapter 7 – Adjust Cost
The most common reaction I see, when telling someone that your out of balance issue is related to Adjust Cost is, “but I have Automatic Cost Posting turned. and with Automatic Cost Posting, I thought it took care of Adjust Cost and you didn’t have to run manually.” What does Adjust Cost Really Do? It […]