What is general ledger setup?
What is general ledger setup?
The setup of the general ledger is at the core of financial processes because it defines how you post data. On the General Ledger Setup page, you specify how to handle certain accounting issues in your company, such as: Invoice rounding details. Address formats. Financial reporting.
How do I create a new GL in Navision?
Go to Chart of Accounts and create new GL Account. In customer Discount group you can customize discount for each customer. and Go to Gen. Business posting group and click on setup.
What is General Journal in Navision?
In Microsoft Dynamics® NAV 2013, general journals are used to post information into the general ledger and other accounts. The general journal is also used to post cost allocations and other adjustments to the accounts and then users can reverse and correct incorrect entries, when you have to.
How do I use a general ledger?
To keep your books accurate, post every transaction from your journal to your general ledger. Use your ledger to classify and organize transactions. When posting entries to the ledger, move each journal entry into an individual account. Transfer the debit and credit amounts from your journal to your ledger account.
How many columns are in a general ledger?
In contrast to the two-sided T-account, the three-column ledger card format has columns for debit, credit, balance, and item description. The three-column form ledger card has the advantage of showing the balance of the account after each item has been posted.
How can I run GL Report in GP?
Hi, Go to Reports –> Financial –> Trail Balance choose Detailed option, choose the date range to get the Journal entries for the certain date range.
Why is general ledger important in Dynamics NAV?
Dynamics NAV includes a standard chart of accounts that is ready to support your business. The setup of the general ledger is at the core of financial processes because it defines how you post data. In the General Ledger Setup window, you specify how to handle certain accounting issues in your company, such as:
What to do in general ledger setup window?
In the General Ledger Setup window, you specify how to handle certain accounting issues in your company, such as: Similarly, in the General Posting Setup window, you specify how you want to set up combinations of general business and general product posting groups.
How to set up posting date in general ledger?
Some of the features available in the window are optional. In this tab you can fill all the General features of the General Ledger Setup. In this most import one is that Posting Date Allowed option, where you can fill out from which date to which date the posting date should allow. To setup posting date you have to fill out the fields,
What is the general posting setup table in NAV?
To determine these accounts, NAV looks to the “General Posting Setup” table. The “General Posting Setup” table represents the intersection of “General Business Posting Groups” and “General Product Posting Groups.” The former are normally associated with vendors and customers while the latter is associated with things like items and resources.