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Dynamics 365 Business Central – How to quickly split the balance of a General Ledger account across Dimensions using a Recurring General Journal
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… Read more
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Dynamics 365 Business Central – How to manage different VAT rates when posting Sales Prepayment Invoices
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 → Read more
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Dynamics 365 Business Central – How to post a Payment in one company and apply to an invoice in another company using Intercompany functionality
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 → Read more
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Dynamics 365 Business Central – Why can’t I see all of the General Ledger accounts in the General Posting Setup page
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… Read more
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Dynamics 365 Business Central – How I post opening balances for the General Ledger in Business Central
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.…… Read more
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Dynamics 365 Business Central – A couple of methods I use when posting opening balances for Sales and Purchase Ledger
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.… Read more
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