Questions regarding new implemenation - Ideas needed!

nverma

Hey guyz,

We are doing a brand new implementation for a client. Do you have any ideas as to how we can overcome these issues.

1) Is it possible to setup a default expense account for(to) a vendor? So, whenever a transaction occurs for this vendor, the G/L Account no. comes in automatically? Therefore, whenever we create a purchase invoice and we select a vendor, system should automatically assign the G/L account no. associated with the vendor in the lines fasttab.

2) Lets say a company issues a cooperate credit card to and employee. He/she goes to staples (vendor in nav) and uses that credit card to buy office supplies. Now, to keep track of the transaction, a payment invoice is created for the expense (at staple) and payment journal is used to apply a payment against the invoice. But, technically speaking, payment was made using a credit card(vendor); So the payment should be made to the credit card merchant and not staples.

How can I show the invoice to me made to one vendor (staples), and we paid for this invoice to another vendor (CC Merchant) without double booking??

Any ideas or suggestions??

Sog

Have you ever worked with NAV?
Because these are simple (Yes simple!) questions that can all be handled by standard W1 NAV...
Posting setup and a designated posting group for that vendor can give any vendor any g/l account.


How can I show the invoice to me made to one vendor (staples), and we paid for this invoice to another vendor (CC Merchant) without double booking??

Just like the sell-to and bill-to options on a sales order you have a buy-from, and pay-to vendor.
However, since you have a creditcard and other payment options should be available, I'd suggest double booking, why? Because it's the law, (here anyway), NAV can handle that transaction easily, it's not the end of the world, and accountants would love it.
I would however not handle the credit card company as a vendor, but as a bank. Because then you can pay with that bank the vendors debt, and when you receive the invoice form the CC company, it can be balanced back to 0 (disregarding the costs). The costs that the CC company takes into account, those I would subscribe to an actual vendor.

All in all, contact an accountant.

nverma

What I ment was, when we create a purchase invoice, it should automatically assign G/L Account associated with the Vendor (in the vendor card) in the line FastTab. Rather than manually entering it (selecting account type as G/L and Account no. as w.e). This will help reduce the no. of potential errors.

Regarding the CC suggestion you have made. I understand most of it. How would i do the last part (I bolded it for you)? I am assuming by actual vendor you mean staples.

Sog wrote:

Have you ever worked with NAV?
Because these are simple (Yes simple!) questions that can all be handled by standard W1 NAV...
Posting setup and a designated posting group for that vendor can give any vendor any g/l account.


How can I show the invoice to me made to one vendor (staples), and we paid for this invoice to another vendor (CC Merchant) without double booking??

Just like the sell-to and bill-to options on a sales order you have a buy-from, and pay-to vendor.
However, since you have a creditcard and other payment options should be available, I'd suggest double booking, why? Because it's the law, (here anyway), NAV can handle that transaction easily, it's not the end of the world, and accountants would love it.
I would however not handle the credit card company as a vendor, but as a bank. Because then you can pay with that bank the vendors debt, and when you receive the invoice form the CC company, it can be balanced back to 0 (disregarding the costs). The costs that the CC company takes into account, those I would subscribe to an actual vendor.

All in all, contact an accountant.

Sog

If you mean standard purchase lines, please look into Standard Purchase Codes and Standard Sales Codes.

The vendor I mean is the CC vendor.
Where you bill-to and pay-to to staples when their invoice comes. You pay them with the CC bank account.
Later when the invoice from the CC company arrives, you can split that into a bank statement and costs. The bank statement part (i.e. the money that was credited to you so you could pay at staples) goes to the bank, while the costs from the CC company are assigned to a CC vendor.

nverma wrote:

What I ment was, when we create a purchase invoice, it should automatically assign G/L Account associated with the Vendor (in the vendor card) in the line FastTab. Rather than manually entering it (selecting account type as G/L and Account no. as w.e). This will help reduce the no. of potential errors.

Regarding the CC suggestion you have made. I understand most of it. How would i do the last part (I bolded it for you)? I am assuming by actual vendor you mean staples.

Sog wrote:

I would however not handle the credit card company as a vendor, but as a bank. Because then you can pay with that bank the vendors debt, and when you receive the invoice form the CC company, it can be balanced back to 0 (disregarding the costs). The costs that the CC company takes into account, those I would subscribe to an actual vendor.

All in all, contact an accountant.