72 - Account Schedules In Dynamics NAV 2017 - Part 7
We're still working with account schedules, and there is a lot of things we can do, so that is why it takes several videos to go over sort of the main points, today what I want to do is keep going on budgeting and we want to budget dimensions which is really interesting.
Normally we budget Gl accounts that's kind of the standard stuff, but Gl accounts are not very good to budget for when you are working with for example sales because sales don't think in GL accounts they might think in salespeople o in areas sales, channels, geography, something like that, so not really the way GL is structured.
So this is a good reason to use dimensions, it could be used for many other things, I’m right here into account schedules and just to show you what a normal one is, we have this coffee mug income statement, if I take a look at that It just shows GL accounts with balance and we had created something with budget column layout and so we could see the net change for a period and plus the budget here on the side. We got this column layout here on this GL accounts.
What I also did in one video is I collapsed these sales retail accounts here, domestic, EU and export into one retail account, and I made those dimensions: domestic, EU and export so, if I go into that one, that's where the new retail statement and take a look at the overview, you can see that I'm only looking at sales retail domestic, sales report export and sales retail EU. These are dimensions they are not GL accounts, they are all coming from one Gl account which is the 4450 GL account but they are separated out by dimension, you can see the balance here is different.
So what I wanna do here now is for dimensions set a budget, I’m not budgeting in GL i’m only budgeting in one GL account but within that one GL account I’m going to budget dimensions, alright?, so the journey continues, I will go into budgets and I had created a 2018 budget for Gl accounts.
But and I’m creating a new one just going to call it CMD for dimensions 2018 budget coffee mug dimensions, and in here I have to select the dimension so If I want to budget in dimensions I select the dimension here, which one I want to work with and Inside one budget we are allowed to have four dimensions, but you can pick any dimension it doesn't have to be a shortcut dimension necessarily. So here I had created sales channel as a dimension and in this case, I’m only budgeting that one.
So hit ok, and here I have that its created and if I go into edit budgets I, of course, get the view again that I have GL accounts down as rows and as columns I have quarters or periods, so what I wanna do here, I don't want to put a budget number for a GL account remember I am budgeting the only dimension.
I can actually change here to show us lines, and I can say ok, I want to show the sales channel as lines and now my dimensions come up and I can actually budget. Actually I do have to be careful here, the thing is, if I put in numbers here right now for these dimensions the system doesn't know for which GL account this budget is, so it has to be also tied to a GL account, and this is tide to a gl accounts to the sales account.
We have to specify here the GL account, I'm going to find the one I actually attached the dimension too. sales retail, right here, so I had collapsed these three accounts into that GL account and then used dimension to post into it. So when I’m budgeting I’m budgeting this account which is sale retail, and within that I'm specifying dimensions so its important that I actually select that over here in the GL account filter then whatever I enter in here, is gonna come in proper, I have to do that before I enter any data, so it's a little bit of a technicality but it's super important.
When we budget here, let's say we have -100,000 -50,000 and -25,000 and then -120,000 -60,000 and -30,000 let's say we just do 2 quarters here. So now I’ve budgeted the dimension, a and I've budgeted them with this filter, so if I go out of here and I go into the role center, and go back into analysis and account schedules I can go into my new retail statement right here and hit overview.
I had actually created in the previous video something called coffee mug budget right there, and I'm using the same layout column here, so if you are wondering how that is setup, just go to the previous video and you can see how that its set up.
I’m just specifying the net change, and budget and all I have to do is pick entries in here and budget entries here on the ledger entry. Hit ok. Now I have to make sure I’m in the correct year. So there is one other thing that I actually have to do, which I forgot, and this is a technicality as well.
So, I go into the account scheduled there is something called CM test and If I go into that, that’s the analysis view that is attached to the account schedule, so notice before I didn't get my budget in there and I was wondering where was it?, and then I remembered, oh wait: I have to make sure that my analysis view that I attached to account schedules includes budgets, it's a technically so you just have to come in here it's a very simple one, we just created it, we selected the dimension in here and I check off “include budgets” I'll just update it and then close out. And hopefully, that should fix my issue.
If I go back here, I select the coffee mug budget and always check on it and now its come in. Again I have to make sure that I’m working with the proper budget, so I select that here in the filter, and I’m looking that in the year and that's why the number are so high, If I would have been looking at the quarter, you can see I have some posted on the budget.
An important part here that I actually missed, is the analysis view, it's so important when it comes to dimensions it's kind of the engine that drives dimensions from the entries perspective, so that always need to be set up correctly, and I would actually go into the whole series into analysis view, but just to remember if you go here into analysis view name, and take a look that it has to include budgets.
Alight I hope that I explained something to you and helped you to set budgets for dimensions, dimensions are very powerful I encourage everybody to start using them, they collapse your chart of accounts into much fewer accounts and they are much better to handle and more understandable the charts.
You've learned some of the many ways your business can benefit from using iNECTA Food. It's trusted by other businesses in your industry and can work just as well (or better) for you. iNECTA Food is easy to implement. It's easy on your budget with monthly subscription payments. Take the next step to ensure your food business is running the right kind of business software. Software for your food safety, increased efficiency, and stronger revenue growth.
Curious about implementation costs, training, getting a customized demo & detailed estimate, booking a discovery call?