How were Opening Entrys made in Cronus Demo Database?

jorgebraga

Hi all

I want to know how the opening entrys to GL Accounts were made in the Cronus Database. I'm using NAV4 SP3 and there are several entries refering to a Journal called G/L OPEN. I cant find the journal (probably deleted i guess) and there is no Bal. Account No. for these entries.

Thanks in advance for your help.

Alex_Chow

If the Bal. Account No. is not used during the entry of a Journal, then you wouldn't get the bal. account no. on the G/L entry.

jorgebraga

Txs for your reply.
But my question is more of a user nature probably. How do you post you balance to a new company. Lets say you're migrating to NAV and want to post currrent values to G/L accounts. Whats the correct procedure? Can anyone give an example?
Txs in advance.

jannestig

Just as a rough Outline

Once you have created your GL accounts, you create a GL Journal with the balance from your old system to post to the account in NAV.

How you do it may differ depending how much hictorical detail you want nav to EG Balanace at date for each moth for the last year or you could just have a 1 line entry for summed amount

You have to discuss with your partner or business leaders how they want it

jorgebraga

Txs for the reply.

Thats what i thought would happen. But where can i find a more detailed help for that(step by step guide would be great)? A user manual would be great? I have user manuals for 3.60 from Navision (the original company) and need to update to 4.0 SP3?

(is it me or Navision help system for final users is getting thinner?!?!)

David_Singleton

jorgebraga wrote:

But where can i find a more detailed help for that(step by step guide would be great)?

\

jannestig wrote:

You have to discuss with your partner or business leaders how they want it

8)

jorgebraga

Txs for your reply.

Yes! I do get it David ... talk to NSC they'll solve your problem...

I'm just trying to learn a little bit more about company configuring.

But txs for the help anyway.

DenSter

jorgebraga wrote:

(is it me or Navision help system for final users is getting thinner?!?!)

Yeah I have the same impression. The pdf's in the traditional Doc folder have all been merged into the online help, and a LOT of it was apparently not important enough to make it in the new documentation. Personally I think that was the worst thing they could do, because it was really nice to have single printable documents for different areas as reference material.

David_Singleton

jorgebraga wrote:

I'm just trying to learn a little bit more about company configuring.

It does depend a lot on why you are doing this.

There are many different ways to post opening entries, and its not really possible to say "this is the correct way to do it". In fact the different processes really have nothing to do with Navision, they are general business issues.

Also the opening entries in Cronus were a bit hap-hazard, they were the results of three or four different companies attempts all merged, so not an ideal thing to copy. That's why I bumped the "contact your partner" post because really someone needs to analyze your needs and then make BUSINESS DECISIONS, not programmer like decision and it could be very dangerous to get advise from people that don't know your full company's background.

On the other hand if you are just learning for your own knowledge (which is a great thing) that's a differnt story. But lately I am seeing a lot of clients with badly damaged systems because of good advise used out of context.

jorgebraga

Txs for your(both) reply.

To make an informed decision you need to know what is going on in the backround(and i do not mean code).
The most "suggested" way would be to use a suspense account and then balance the other accounts based on this suspense account.

I do understand that the process of doing this (and even the timing) is crucial and depends of a lot of factors (ad is to be done by a financial manager and NOT a programmer)

I'm following your approcach to learning NAV - try do get a real good grasp of everything the app does and then go to C\SIDE. I started (in your opinion - wich i agree) the wrong way - learn app specific code and started from there. That solved my immediate problem .. but not my long term problem.

Starting with Cronus and course 8384A you can learn the basis about using NAV and get a little grasp about configuring.

The tip about Cronus is very important because i found the entries to have the field System-Created Entry = Yes and was trying to determine how was that done but Journal used isnt in the company (INIC CONT?!?!).

In conclusion i'm just focused on the way this initial setting of the company state was done in Cronus.
Maybe u could dedicate a page to this in your Wiki?

David_Singleton

jorgebraga wrote:

Txs for your(both) reply.

To make an informed decision you need to know what is going on in the backround(and i do not mean code).
The most "suggested" way would be to use a suspense account and then balance the other accounts based on this suspense account.

I do understand that the process of doing this (and even the timing) is crucial and depends of a lot of factors (ad is to be done by a financial manager and NOT a programmer)

I'm following your approcach to learning NAV - try do get a real good grasp of everything the app does and then go to C\SIDE. I started (in your opinion - wich i agree) the wrong way - learn app specific code and started from there. That solved my immediate problem .. but not my long term problem.

Starting with Cronus and course 8384A you can learn the basis about using NAV and get a little grasp about configuring.

The tip about Cronus is very important because i found the entries to have the field System-Created Entry = Yes and was trying to determine how was that done but Journal used isnt in the company (INIC CONT?!?!).

In conclusion i'm just focused on the way this initial setting of the company state was done in Cronus.
Maybe u could dedicate a page to this in your Wiki?

oooorrr maybe if I got bored one night, I might do something like this.....

Cronus Widgets

idiot

jorgebraga wrote:

The most "suggested" way would be to use a suspense account and then balance the other accounts based on this suspense account.

A good consultant would never need to create Suspense account if it does not exist on the Chart of Accounts provided by the client.

AdamRoue

However a good consultant would ask the client how they want this done, and would state the suspense account as an option. Many accountants have never gone through a system implementation, do not know how to design a chart of accounts or create go live entries, it is just something they have never encountered. Once they understand the options they can then chose which way to go themselves. I have found the recent trend in the UK is to create a take on account for ease of reconciliation, it is how they have preferred to manage the take on, nothing more.

idiot

However a good consultant would ask the client how they want this done, and would state the suspense account as an option.

IMHO, using a Suspense account when it doesn't exist in the first place is [-X . If the accounts balance this shouldn't even come to mind. Maybe you can describe cases where Suspense account is needed when the G/L accounts balance?

Many accountants have never gone through a system implementation, do not know how to design a chart of accounts or create go live entries, it is just something they have never encountered.

I'm not sure how in your area accountants are defined, but from where I work, if to be classified as an accountant, they must be accredited ACCA, which I believe designing a Chart of Accounts is as easy as ABC to them. The only issue here is how to map their CoA to how Nav refers to its mandatory accounts. Creating go-live entries is the job of the consultant, providing the go-live entries or opening balances is the job of the accountant.

AdamRoue

I do not disagree with you with regards to a suspense account, but the data take on account is not a suspense account in the traditional sense, it is a one off reconciliation account.

With many many NAV implementations the accountant has come froma back ground of smaller sites, Quickbooks, Sage etc. In these systems there are wizards to create the COA. They use this for 10 years, then you give them a blank piece of paper and say design the COA your business would best benefit from and understandably many struggle. Yes these are fully qualified people, but it is also experience and the personal qualities that make up a big part of what they can do. A few years ago I had a phone call from a NAV site who had employed an accountant of 10 years experience, she had worked in a large organisation and had moved to a smaller business. She had not in 10 years had anything to do with a VAT return or Intrastat, and simply did not know how to do them - this was naturally irrelevant of the system.

I am not saying every implementation is like this, there are many accountants with experience of implementations and designing COA's and in recent years the preference of these accountants is to also use a take on account at go live purely for reconciliation reasons and to spot where balances are not matching.

I have not given my personal preference, and I am not advocating an approach, just saying what I have experienced in recent years actually implementing NAV.

David_Singleton

Whilst a suspense or take on account is not recommended, there are many cases where it is the only, or at least the best option. For example for companies that have their supply chain and General ledger in separate systems. Those systems must be reconciled, and a suspense account is often the best way to do this for auditing purposes. If you simply posted both to the correct accounts, they would not balance.

Alex_Chow

Suspense account is needed also when the inventory value from the legacy system does not match what was physically count, but cannot be amortized within a period.

http://dynamicsuser.net/blogs/alexchow/ ... lance.aspx
:whistle:

idiot

David Singleton wrote:

Whilst a suspense or take on account is not recommended, there are many cases where it is the only, or at least the best option. For example for companies that have their supply chain and General ledger in separate systems. Those systems must be reconciled, and a suspense account is often the best way to do this for auditing purposes. If you simply posted both to the correct accounts, they would not balance.

Alex Chow wrote:

Suspense account is needed also when the inventory value from the legacy system does not match what was physically count, but cannot be amortized within a period.

http://dynamicsuser.net/blogs/alexchow/ ... lance.aspx
:whistle:

These cases fall into the category where the accounts do not balance in the first place, where balance from one system does not equal another system & definitely need the Suspense account if accepted by the consultant as opening balances.

kapil4dynamics

However a good consultant would ask the client how they want this done, and would state the suspense account as an option.

True and it is choice of client then. As i have done this sometimes as asked by the client. That is why in this post http://www.mibuso.com/forum/viewtopic.php?f=23&t=33369

i said , it depends and i got the reply that

What u mean by changes every now, so u cannot have it standard.
Opening entries process will change every time based on the person
Let me know

So i thought better to move out of topic as it is all about what we have seen during the implementations, may be we haven't seen any other option as well if it exists.

hansika

Hi experts,


can i know how many ways i can update the opening balances .

Because

David Singleton wrote:

There are many different ways to post opening entries, and its not really possible to say "this is the correct way to do it". In fact the different processes really have nothing to do with Navision, they are general business issues.

posting.php?mode=quote&f=23&p=169939


please throw some use ful information .