I want to set up a simple trading company in a Navision.The company purchases computers and accessories and resale it with a profit margin.I want to create computers and its accessories as items.I have designed chart of accounts with trading inventory G/L account (Balance sheet) as its current assets where all purchases should go at its cost price. And when the same item is sold i want to have its effect on the cost of goods sold account which is a income statement type.Can anyone please help how to setup for inventory items in this case.What are the different areas that i should go through for this set up.Please kindly advise me.
Examine the Demo (Cronus) company - part of Cronus Items are just PCs & accesories. If you are a reseller only, then you can overtake settings from there, adjusted to your CoA.
If you “manufacture” your PC`s from components, then Kitting from NAV v5 may be your choice, but its available in selected countries only - really don’t know why…
Here I am again, seeking for your help. I am trying to post my opening balance through Item Journals (this is a raw material to be precise), but an error prompts me that General Posting Setup does not exists. General Bus. Posting Group="Gen. Prod. Posting Group=RM-AWCU. I checked my posting groups for that item and i cant find any problem. When I try to post the same item from Purchase Invoice, it was successfully posted.
You have to setup account numbers for posting of transactions related to sales, purchases, inventory and jobs in combination of general business and general product posting groups…
Finance Management ====> Setup ====> Posting Groups ====> Posting Setup
The message is telling you the issue. In the Posting Setup you need a line where the Business Posting Group is BLANK. This will be in combination of your Product Posting Group RM-AWCU. When you post from a purchase invoice the vendor has a Business Posting Group, when you post from an item journal there is no “Business” and therefore you need a blank line in the setup matrix to handle this form of posting.