Dear All,
I am currently designing chart of account. I will use some of them in the setting of specific posting group, general posting
groups and VAT Posting group.
I have some questions relate to design that are as follows:
1.
In Navision essential I’ve read that there is application rounding account, can I skip this account in creating chart of
account? What are the primary accounts that I should create in the COA…? In the general posting setup, there are 28 field
columns and I want to know what the actually mandatory fields columns that must be mapped to my COA…? If the company is
manufacturing company and its chart of account are set to be manufacturing type.
2.
If I use perpetual FIFO when valuing and calculate COGS, how to create the G/L account card for that, because it’s not a
Navision standard, how to set it in Navision and do I must put the account into inventory posting group I’ve also read
You have this all completely the wrong way around, your COA dictates how the posting groups are configured, you do not let what Navision needs dictate the construction. If you have no idea of what a COA should contain you probably should not be trying to design one anyway, just start with Cronus, look at the COA and see where they use which field, it really is the best way. Otherwise go and take an accountancy course and understand the basic constructs of a BS and P&L and then construct it in Navision and map your posting groups to it.
Once you have the basics you can then start to understand interim accounts and inventory valuation.
You hit the nail on the head. One additional comment would be to leave a little room between numbers on your chart of accounts so if you find you need to add an account later it can fit in between the appropriate accounts, for instance
113 Inventory Balance Sheet Begin-Total
114 Work in Process Balance Sheet Posting
115 Inventory Balance Sheet Posting
116 Reserve for Obsolete Inventory Balance Sheet Posting
117 Inventory inter-branch trans Balance Sheet Posting
118 Total Inventory Balance Sheet End-Total 113…118
Our NSC orginal set our up like this, I need to add an account but have no room to insert it between 113 and 118. I can of coarse set up an account out the this range and change my formula in line 118 to pick it up, but then it doesn’t show up on the chart of accounts in a nice order.
Also I would not make the numbers too long, because then when you do journal entries you will have additional digit to enter. I would base a COA on a four digit number, that will give you plenty of room to add accounts
Renaming is the best long term solution, but I believe it may be impossible to realistically do, as each rename will take a long time to complete, since it will have to search every related posted entry in the system, and that will most likely take longer then I have, since it will lock the tables while renaming it would have to be done after hours.
I tried to just add a dash or a point such as 116.1 or 116-1, but they sort to the bottom of the list. I believe I will end up set up the account out of the range and change the totaling account to pull the info from there also.
I find 4 bit restrictive 6 numbers to be about right and easier for users to remember (as sets of twos or threes, and numbers not too close to each other).
First Charater : Sales,Purchases,Selling &Dist exps,Admin Exps,FA,Stocks,Debtors,Bank,Creditors,Share Capital & reserves (or reverse income and b/s)
Second & third Character: sub-headings as you require
Whilst I generally do something similar to what Richard suggests, it is important to realize that there are no global rules for creatign a Chart of Accounts. Each country has different ways and rules. Some countries evern have rules that define the accoutn numbers. In the Czech Republic for example, the first three digits are legally defined, and they are very accounting oriented, and not business oriented.and make creating Account Schedles difficult.
But anyway most important are the comments made by Steven. If you have to ask how to set up a chart of accounts, then really you sold not be doing the job, but assigning that job to an accountant, because you can be certain that once its set up wrongly, an accountant is goiing to come a long and want it done properly. Ofcourse as a consultant you shuld be working with your cleint to get the accoutns set up correctly, but the starting oint needs to come fromt he business model of the client. Dynamics is flexible enough to work around what ever the client needs.
And David, I know it seems a tough job, but I agree with Ahmed, that you should rename the accounts, if ou don’t the problem will just get worse in the future. Instead of manually renaming the accounts, you could do it in code with a commit after each account rename, and then stop it during business hours, and restart at night.
Mark, it would help you a lot to get good help, if you could please let us know what you do. Are you an End User or and NSC or a consultant, are you a super user, a developer or a project manager etc.
If you rename the Chart of Account, do your basic reports to get figures to print out.
Screen shots of set ups in various areas where the GL account numbers are used.
When you finish renaming them. Run all reports again to compare figures.
Then go to all set ups to confirm the GL’s have changed.
In a test database, process a few transactions from different modules to confirm the right GL Account numbers are getting hit with the $ money.
Good luck.