field and the entry number of the Item Ledger Entry corresponding to the inventory decrease in the Outbound Item Entry No. NAV records the entry number of the Item Ledger Entry corresponding to the inventory increase in the Inbound Item Entry No. All these applications between incoming and outgoing quantities in the Item Ledger Entries are stored in the Item Application Entry table as links between inventory increase and inventory decrease in an Item Ledger Entry. More entries in the Value Entries table can be applied with the same entry in the Item Ledger Entry.Įach Item ledger entry is applied against each other. Each entry in Value Entries table is linked with entry in the Item Ledger Entries table.
Value posting describes the change in inventory value and this transaction is stored in Value Entries. Quantity posting describes the change in quantity on inventory and this transaction is stored in Item Ledger Entries. This posting results entries as quantity and as value. The next common thing is way of the posting all incoming and outgoing entries. When the quantity on inventory is zero, the inventory value must also be zero. But, regardless of what costing type you use, all of them have minimum one common thing. Stock can be quickly and easily re-valued if necessary.Ī detailed example of how costing in Dynamics NAV 2013 works can be found HERE.Costing methods usually differ in the way that they value inventory decreases. The costs of sales are retrospectively adjusted if the cost of the purchases that relate to them changes. Posting to accounting ledgers is automated thus reducing the chance of errors being made.Ĭosts are re-adjusted based on actual invoiced costs. Recording of costs when items are received or shipped as opposed to when they are invoiced and paid for. Offering a number of different costing methods including FIFO, LIFO, Standard cost and costing by specific item serial nos. Microsoft Dynamics NAV 2013 does this by:
This is important not just for accounting purposes but also to be able to gauge the profitability of each transaction. Not all businesses value their stock in the same way and it is important that the material costs of each sales transaction accurately reflect their costs, which can change long after stock has been sold. Accurate costing of stock transactions is essential to managing a business successfully but it is not as easy to do this as you might think.
As you would expect, the package offers rich functionality within an easy to use interface. Microsoft Dynamics NAV® 2013 is the latest release of the well-known and established ERP solution for all kinds of businesses of whatever size.
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