"Applying Entries" in General Ledger

NoiK00

Hi All,

Since migrating to Dynamics NAV( 2009 SP1, version 6.1 the NL localization), i'm getting more and more questions from the financial departement on "How to work with the General Ledger" (regarding accounts and entries).

Recently i received a question on how to find out what the specification is on a interim account.
I'm not a financial expert but i look at this as a TEMPorary ledger, which after a periode must go to 0,00, and if not it must be traced which lines must be corrected.(correct me if i'm wrong). The question i received is how to find out which entries make up this amount(Question 1). Initially i forwarded the question to my partner, but after a few weeks we still don't get a satisfying answer, so i'm trying the community.

When i look at the entry lines i see the "open" column, which states the line is open or not. This functionality works using the "applying entries" function in NAV. Does this only work when a user executes this functionality? Or are there similar periodic function who will close lines FOR you?(Question 2) When using this field we could filter what is open or not, and see what the amount is made up from. Is this a normal practice whicht other companies user too, or are there other solutions?(Question 3)

For example in the flow of purchases;

When Receiving a purchase order it creates a purchase receipt.(this creates a ledger entries for the items with the receipt documentnumber)

When we recieve the invoice, we use the function "Get Receipt lines" and invoice it(this will create a correction line for the receipt, but doesn't applies it to this lines so it stays open)

After it's being paid, the vendor ledger entry isn't open anymore, but the lines in the general ledger, keeps staying "open".

What are the ways to work with this situations?

Thanks in advance,
Kees

bbrown

Your post title says "General Ledger" but you seem to be talkign about the subsidiary ledgers. Could you clarify?

You also say that the response from your partner as "...we still don't get a satisfying answer...". Is that because you feel it is wrong, incomplete, or not the answer you are expepcting? It might be helpful to sumarize their response here.

udayrmer

Question 1: In trim account will be zero at a time when you had made all the invoices, of your all the receipts, i.e. you have zero posted receipt which invoice is pending

Question 2: apply entries function only available for subsidiary ledgers like vendor ledger, customer ledger, item ledger, not for G/L ledger, this should be clear to you

Question 3: Have you ever seen field like open in G/L Entry ?

NoiK00

bbrown wrote:

Your post title says "General Ledger" but you seem to be talkign about the subsidiary ledgers. Could you clarify?

I meant the entries also found in table 17 "G/L Entry".

bbrown wrote:

You also say that the response from your partner as "...we still don't get a satisfying answer...". Is that because you feel it is wrong, incomplete, or not the answer you are expepcting? It might be helpful to sumarize their response here.

I think it's because i feel it's not the complete answer. The answer they gave looked like there aren't much tools in Dynamics NAV, but to export to excel and like correcting and finding errors "by hand".

The response they gave was that in case of the receipts and invoicing, applying entries must be done by finding the receipt used on a invoice. And in the applying enties form filter on the 2 of more documentnumbers(1 invoice number and N receipts), and then choose the right receipt lines. When doing this for a few invoices it's ok, but with the numbers we have it's to much.

With this post i'm hoping to see how other companies work with this issue and find the best way for our company.

udayrmer wrote:

Question 1: In trim account will be zero at a time when you had made all the invoices, of your all the receipts, i.e. you have zero posted receipt which invoice is pending

Then i have the right idea about how it works.

udayrmer wrote:

Question 2: apply entries function only available for subsidiary ledgers like vendor ledger, customer ledger, item ledger, not for G/L ledger, this should be clear to you

When looking at the screenshot i provided you´ll see a function to apply entries, so what do you mean with "not for G/L ledger, this should be clear to you". Is this because of the mixup bbrown is talking about?

udayrmer wrote:

Question 3: Have you ever seen field like open in G/L Entry ?

When looking at the screen shot you see a field "Open".

Thanks,

Marije_Brummel

Applying G/L Entries is dutch localisation and also exists in some other countries.

udayrmer

Sorry but in my Indian Localization/ or w1 database this open field does not exist, have you made this customization from your partner ?

Can you please make me clear what you exactly want ?

udayrmer

Mark Brummel wrote:

Applying G/L Entries is dutch localisation and also exists in some other countries.

Ok thanks Mark