Item Opening Balance Migration in Dynamics Nav 5.0

Business Central/NAV User Forum
1

Dear All

we have a situation here. we recently migrated from 3.7 to 5.0. On the Go Live day, consultants posted dummy Item quantity and values as an opening balance in order to start with Dynamics Nav 5.0. After a month, we finalised the inventory after closing the year. Now we have correct Item Qty and Values. These Qty and Values needs to be replaced with the dummy Qty and Values posted previously as an Open Balance. The dummy opening entries are already applied with the sales transaction. The consultants are suggesting to do stck take and correct the cost from now onwards, which is practically not feasible at the moment.

Is there a way out that we can post the correct inventory balance and revalue the cost from the go live date onwards? quick reply will be highly appreciated.

Thanks

Faisal

2

once you post the any transactions then system will update the Ledger entries.

so you cannot replace that ledger entries , but u have to make adjustments to that ledger entries.

so when ti comes to your query if you have taken excess qty then use the Negative adjustment on same date.

if you have taken that less quantiy then use the postive adjusment on same date.

when it comes to Value then use the revalueation journal to adjust the cost for Opening balance.

You can fill the revaluation journal manually in the revaluation journal for that item, use “applies-to entry no” and select the positive entry to revalue for which quantity is not remaining,

then system will post that entries to Value entry and Inventory accounts will effect.

3

Thanks Reema for your quick reply. But there are sales entries already affected by the wrong cost. Will those cost will be corrected as well?

4

what you mean sales entries already effected by wrong cost ?

are u talking about sales amount (Actual) or Cost amount (Actual) in item Ledger entry ?

5

I mean to say that the subsequent sales entries are already valued with the wrong cost uploaded as an opening balance. So this valuation of the sales entries can be corrected with this revaluation process?

6

Yes,u will have to run adjust cost entries and post inventory cost go G/L batch jobs respectively, but ask ur accountants which period they would think they r allowed to get it posted (i mean adjustments), in the month in which u posted the opening or the current month.

7

BTW what costing method u have ? In any case first do this on a local copy of ur db, verify the outcome, if everything seems fine then do it on production db.

8

Thanks Kapil. We are using FIFO method.

9

Thanks Reema and Kapil

I managed to resolve the issue in the following way:

  1. Reversal of old migrated opening balance with exact qty and cost.
  2. Upload of correct opening balance with correct qty and cost.
  3. Removal of applied sales with the old opening balance and reapplication
    of the same with new opening balance.
  4. Reapplication of old opening balance with the corresponding reversals, to
    knock off each other.
  5. Run adjust cost item batch to correct the cost of sales with the new
    opening bal migrated.
10

Hi, i have a problem on entering opening balance using Item Journals. WHen i try to post item journal line, it says that General Posting Setup does not exists. General Bus. Posting Group='Gen.Prod.Posting Group=RM-AWCU. I guess I have checked everything and I cant see any problem. Since when I tried to post from Purchase Invoice using the same item it works.

Hope someone can accomodate my question.

Thanks a lot.

11

In the posting setup insert aline with Gen Business Posting Group = ‘’ and Gen product posting Group = RM-AWCU