Hey boys!
You know a way to delete all what I would consider not transitional data, that is to bring the balances to 0 from all the accounts contained in the Inventory part of the Product Posting setup card?? We made huge mistakes at the beginning like buying raw materials at 1 billion dollars and so, so those accounts are now of no use for us.
Thaaaanks!
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You will in most cases not be able to delete the accounts once the posting has been gone through those, NAV will check for that. If the are really zeroed, you can rename them and use in future periods, or you can block them and filter out in the page so that the user will not see them.
Please refer to the following info when account can be actually deleted:
Also, what would you think about reverseling the accounts and once their balance is 0, delete them and create new ones?
Thanks, what I have done is to start a new fiscal year with all that this entails, including new inventory period and so on..I expected that by doing so , the accounts, not the accruals or inventory, would go reset. Even the accruals accounts after making the payments still are hit but the amount already paid and I dont understand why, perhaps they will always have a balance , since the first day we started using them, and in order to not show it all what one must do is filter the chart of accounts by date?
As other members mentioned, it is better not to delete the data from the system, however there are options for direct editing the data through direct SQL or inside NAV itself. Remember that in accounting you always have double entry, thus if you have incorrect item cost at one side, there should always be something the same incorrect on the other side (e.g., accounts payable). Thus, you can't just reduce the cost of items, you need to do it in a correspondence with some other account which is also incorrect.
Do this wither by reversing the entries or posting corrective transactions in item journal, which you can calculate manually. Another option is to write-off the items to cost and zero the stock balance both in quantity and amount, and then correct that cost account to a needed value.
The Russian localization feature, that has been available starting from early versions - the preview of posting - is now available in W1 version of NAV 2016. Very handy tool to avoid mistakes and see what books with what records will be generated before you actually post something.
thanks, but we are like a month in, and refreshing it is not possible..
Hello Pollux,
The amount of reversal entry should be exact the amount of transaction. You can do it many times but the total amount you reverse should be equal to the actual transaction amount.
In your case you can reverse again with the remaining amount.
Good Practice: Always check the Test report. And in latest version of NAV (2016) we have an option called "PREVIEW POSTING" that helps you see the future outcomes of the Post Event.
Ups i clicked post and they all dissappeared, the income recon, account got charged though, a COGS account I checked lowered its balance but not enough, and when I clicked on the balance there were still postings from June..? Is that because I didnt do it one per one?
Hi,
One more Perspective to the solution.
If you have recently setup the company and did some wrong transaction and want to start the fresh then you can always start all over again by the use of Configuration package. Follow: community.dynamics.com/.../127600
This should be only done if you recently configured the Company in NAV and you have more ledger entries and you don't want to reverse it instead want to start fresh.
Hello Pollux,
I just would like to add some comments on the process.
That's how NAV works. It's a transaction-based accounting system at the core, and posting means recording as in "chiseling into stone". This is required for the auditors to accept it as an accounting system. There are ways to reverse transactions, but some have so many dependencies that the designers decided not to implement it. This is also due to the fact that all reversal functionality wasn't included when the core system was designed. In Modern NAV System we have many ways to Reverse Entry. All have their own Specifications.
The Best Practice is to Flow with the System. Its like Never Step back. If something is wrong then reverse it and cancel its effect.
Yes. You need to post them manually. :)
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