Good afternoon. I have a client migrating from Simply Accounting to NAV 2009.
I have some questions on the inventory setup.
Simply and NAV post sales of inventory the same way
But when it comes to purchases ‘Simply’ does this.
NAV does this
CR Direct Cost Applied.
Now what would you recommend I do ?. I think I should just set up an new I/S account for Purchases and a new I/S account for Direct Cost Applied (since they net out anyway).
Since they net out, what is the purpose of both of these accounts ?
Simply Accounting that for is even called “simply”, as it does things simply [;)]
It may be not the only place, where posting schema differs - read, become more complicated - and accounting theory allows doing the absolute minimum OR create more G/L Accounts and more complicated posting schemas to give more traceability and analysis options.
Your previous S.A. system seemingly had a single account for each of: AP, AR, Inventory, etc. Look at the sample CRONUS company - even there CoA is much more detailed, e.g some ~20 accounts for AP only.
So, you must brainstorm with your CFO and Chief Accountant and seriously discuss your new CoA for Navision.