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Costing Metho: Nav 2018/ Business Central

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The costing method determines if an actual or a budgeted value is capitalized and used in the cost calculation. Together with the posting date and sequence, the costing method also influences how the cost flow is recorded. The following methods are supported in Microsoft Dynamics NAV: Costing method Description When to use FIFO An item’s unit cost is the actual value of any receipt of the item, selected by the FIFO rule. In inventory valuation, it is assumed that the first items placed in inventory are sold first. In business environments where product cost is stable. (When prices are rising, the balance sheet shows greater value. This means that tax liabilities increase, but credit scores and the ability to borrow cash improve.) For items with a limited shelf life, because the oldest goods need to be sold before they pass their sell-by date. LIFO An item’s unit cost is the actual value of any receipt of the item, selected by the LIFO rule. In inventory val
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Recurring Sales Journal: Navison

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Master Data Item Card For demo, we will create one item named as ‘Internet Line’. Customer Card Then for the demo, we will create 3 customers. PRAN RFL Brac Bank Ltd ABC Software Ltd Recurring Sales Journal Process Standard Sales Code Go to Financial Management > Receivables > Setup Or Sales & Marketing > Order Processing > Setup Then, select ‘ Standard Sales Code ’. Click ‘ New ’ Fill the lines with this, Code : ‘INTLINE’ Description : ‘Recurring bill for Internet line’ Currency Code : BDT In Lines, Add the ‘Internet Line’ item. We set the ‘ Quantity’ field to 10 and ‘ Unit of Measure Code ’ as ‘ MBPS ’. Set Sales code for the customers Now, we set this sales code for the customers. Open any customer cad. Go to NAVIGATE > Recurring Sales Lines And fill the lines with necessary information. Code: ‘INTLINE’ Valid From Date: ‘’ [Starting date of bill] In the lines, ‘ Cus
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General Ledger (GL) Card: Navison

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General No. The number of the G/L account. Notice that number series are not used for G/L accounts so this number is entered manually. Name A short description of the G/L account. Income/Balance Indicates whether the account is an income or balance sheet account. This field is important in determining what accounts are closed at the fiscal year end. Account Category: This select categories and the G/L accounts that are assigned to them. Category can be Assets Liabilities Equity Income Cost of Goods sold Expense Account Sub Category: This select subcategories, and the G/L accounts that are assigned to them. We can create new subcategories and assign those categories to existing accounts from G/L Account Categories  window. Debit/Credit The type of entries that are usually posted to this account. The selection made does not restrict the type of transactions posted to the account. It only enhances the reporting capabilities. Account Type The purpose
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