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does NAV support double ledger entry ?!

barakkorbarakkor Member Posts: 2
Hi to all,

Is there a way to manage 2 ledger entries?
I need to manage in the same company 2 kinds of g/l accounts and ledger entries... (like g/l and budget) but with the same functionallity to both accounts..(double Booking)

Thank You,
Barak

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    chengalasettyvsraochengalasettyvsrao Member Posts: 711
    Can you explain your business scenerio with an example ?
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    David_SingletonDavid_Singleton Member Posts: 5,479
    barakkor wrote:
    Hi to all,

    Is there a way to manage 2 ledger entries?
    I need to manage in the same company 2 kinds of g/l accounts and ledger entries... (like g/l and budget) but with the same functionallity to both accounts..(double Booking)

    Thank You,
    Barak

    Hi Barak,

    A number of companies do this, for example for management of subsidiaries, which can also be handled with Consolidation. Also it is common in Not For Profits that require fund management. It does depend though on your specific need. I have also seen this done to run multiple accounts so that certain transactions can be kept hidden from audits, but this is not something I would condone or help with.

    If you can't use consolidation, then common solutions are to have dual Charts of accounts with a single GL Entry that cross references both Sets of accounts, the other is one chart of accounts with two ledger entries. I have also seen solutions with dimensions, and posting multiple entries for each journal transaction.
    David Singleton
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    Alex_ChowAlex_Chow Member Posts: 5,063
    barakkor wrote:
    Hi to all,

    Is there a way to manage 2 ledger entries?
    I need to manage in the same company 2 kinds of g/l accounts and ledger entries... (like g/l and budget) but with the same functionallity to both accounts..(double Booking)

    Thank You,
    Barak

    Are you talking about setting up a different company?

    Are you doing this for having another currency for reporting?
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