How to be familiar and know for sure which GL account is for which in Navision 2018?

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Posted on by joshtechsolutions

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Hi Community,

Not sure if this is an accounting question of more towards Navision, how to be familiar which GL account is for which in Navision 2018?

When I ask some of the accounts, they also cannot be sure which accounts to set up, unless I ask my Financial controller.

So my question would be how can I know it for myself? How can I know for sure how to set up for which GL account?

Thank you!

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RE: How to be familiar and know for sure which GL account is for which in Navision 2018?

Josh,

Being a CMA Accountant and Implementer/Architect of NAV/BC, you should only ask your Controller which Chart of Accounts to use in Posting Groups and entries. If a user or you do not know, do not guess nor speculate. This is why when implementing NAV, Controllers/Accounting Team helps setup all the Posting Groups so entries posts to the correct GL Account.

Cronus is a nice demo database to use and play with. It is good for that purpose but depending on industry, country statutory regulations, public company, private company and management the Chart of Accounts would be different so the Finance Controller and Team know best.

Hope this helps.

Thanks,

Steve

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Inge M. Bruvik 1,035 Moderator on at

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RE: How to be familiar and know for sure which GL account is for which in Navision 2018?

In my country there is a standard chart of accounts that most companies use either directly or with individual adjustments.

Maybe there is something like that in your country as well?. We also have reference books available that describe the most common use of the different accounts.

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YUN ZHU 92,067 Super User 2025 Season 2 on at

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RE: How to be familiar and know for sure which GL account is for which in Navision 2018?

Hi, Although each country has a prescribed chart of accounts, each company should have a different chart of accounts, (different No., different name...). I think it is up to the accounting staff of this company to decide.

But if you are still not sure how to set up G/L Accounts.
You can refer to the settings of Cronus (Demo Database), and then modify it slightly according to your needs.

Hope this will help.

Thanks.

ZHU

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JAngle 117 on at

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RE: How to be familiar and know for sure which GL account is for which in Navision 2018?

In the context of? Does this relate to posting setups? Accounts for expenses?

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