Sales,Purchases,Inventory,jobs Accounts in NAV

gulamdastagir

On the general posting setup card we have accounts for Sales,Purchases,Inventory,Jobs
for eg for sales we have Sales Account,Sales CR/Adj Note Acc...Sales Pmt. Disc Credit.

1.i would like to know if all ERPS have these same accounts?
2.And should we take into consideration these accounts when we are creating the chart of accounts?

AdamRoue

I would expect most systems to have a sales account but whether all systems then give you the ability to separate out credits is another manner.

Yes you must consider these accounts, and the posting groups. How you want to see the sales in your GL affects the configuration of these posting groups, although you can have many posting groups pushing transactions to one account and use the division for reporting pueposes.

This setup is quite fundamental, so you need to understand it and hopefully get it right!

Alex_Chow

gulamdastagir wrote:

On the general posting setup card we have accounts for Sales,Purchases,Inventory,Jobs
for eg for sales we have Sales Account,Sales CR/Adj Note Acc...Sales Pmt. Disc Credit.

1.i would like to know if all ERPS have these same accounts?
2.And should we take into consideration these accounts when we are creating the chart of accounts?

Honestly, I would expect a system like SAP or Oracle to have more than what NAV has.

However, for most of the companies that is implementing NAV, those account setups are overkill.

In the end, it's probably best to create a chart of account so you can easily create a financial statement so your CPA can easily certify for your bank and auditors.