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In this post, we cover posting a single bank ledger entry for multiple customer payments, common with credit card companies like American Express. Using the “Cash Receipt Journal”, the cash is entered and applied to individual customers, then balanced to the bank account. This ensures accurate bank reconciliation in Business Central.… Continue reading →
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If your business leases a car, you can only reclaim 50% of the input VAT, unless it’s exclusively for business. Use “Non-Deductible VAT” feature in Business Central to manage this. Switch on the feature, create a new VAT product posting group, assign it to GL code, and configure VAT posting setup to reclaim the correct…
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The Business Central Admin Centre allows you to find out when an environment was created. Accessible through the “Settings” option or by adding “Admin” to the Business Central URL, it provides details on environment creation date, user, updates, and more. This feature was developed based on community input via the Microsoft Ideas site.… Continue reading…
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This post discusses using the Recurring Journal in Business Central to split the balance of a General Ledger account across dimensions. It explains the “Recurring Method” of “Balance” and provides a worked example of splitting costs across different departments. This method reduces errors and saves time compared to using a normal “General Journal.”… Continue reading…
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In Business Central, Sales Prepayment Invoices are used to invoice before delivering goods or services, requiring a specified Sales Prepayment General Ledger code. When faced with different VAT rates, a workaround involves creating and configuring additional General Ledger codes. The solution allows for posting Sales Prepayment Invoices with varying VAT amounts.… Continue reading →
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In Business Central, when a customer pays cash to a different company than the one where the sales invoice is posted, use Intercompany functionality. Record the payment in the receiving company and close the open invoice in the selling company using Intercompany Journals. This process ensures accurate reconciliation and customer account management.… Continue reading →
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The “General Posting Setup” page in Business Central is crucial for defining General Ledger codes based on business and product posting groups. However, default filters can limit the displayed GL accounts. To view and select all accounts, tick the “View All Accounts on Lookup” option. This simple step ensures visibility of all posting accounts for…
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The writer discusses methods for posting opening balances in Business Central for various modules, addressing the General Ledger in particular. They outline three approaches, emphasizing the importance of detail and historical financial reporting. Despite time and labor considerations, the writer favors Method 2 for its comparison reporting upon system implementation. They conclude by expressing gratitude.……
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The author discusses methods for posting opening balances for Sales and Purchase Ledger. Method 1 balances entries to the Accounts Receivable control account, but can cause issues if a balance is reversed. Method 2 balances to a Suspense Code and then reverses the balance to the Accounts Receivable GL Code, mitigating the risk of imbalance.…
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The post discusses different behaviors when accessing the “General Journal” page in different companies in Business Central. It explains that the issue was caused by the presence of duplicate “General Journal Template” and suggests creating multiple batches within a single template as a standard practice to resolve such issues.… Continue reading →
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