<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=2171605496452306&amp;ev=PageView&amp;noscript=1">

83 - Posting Groups in Dynamics NAV 2017 - Part 5

83 - Posting Groups in Dynamics NAV 2017 - Part 5       

Today we are going to keep going on the posting groups. It’s a super important topic so I’m going to make a few of these its sort of like the foundations of NAV, if you don't know posting groups you'll never fully understand how things flow in the system. It’s the ABC’s, you gotta know the ABC’s

What I’m going to go through today, I’m still going on the balance sheet posting groups, the entity posting group, but I’m dialing in on the bank account posting group. So here we can see the entity posting groups we have like I said before, customer posting group posting the accounts receivable part of the balance sheet, vendors - the accounts payable to balance sheet, posting group, Items the Inventory valuations basically to the balance sheet, and then the bank, of course, the balance of the bank to the balance sheet.

So these are all ties with the posting groups and basically what I wanted to talk about specifically in this video is how we set up the bank posting group because that is a little bit different, or actually a lot different than the customer, vendor, and Items.

If I go in here into NAV and I go into cash management and I take a look at the bank account, for example, the operating bank account, I can see that the bank account posting group for here is called operating, and it’s putting everything into 22100 and so you might think, well if we have two operating accounts we can put both of those operating accounts into 22100 and just have the bank post directly through there and because that would be a sensible or similar thinking to customer if I have domestic customer and put them all into a domestic posting group and that posts all into accounts receivable, so you group them together.

But with respect to bank accounts, you can't do that, it's a big no-no, and there is only one serious reason why, and I’m gonna show you why. Because I can't just tell you not to do it without explaining.

So if I go into the bank account reconciliation or bank recs, and I’ve created one for the operating account, here we have the standard bank reconciliations; and I actually have a video on that for I think 2015 version, which I feel like I need to redo one of these days but in any case; in a bank account reconciliations once you are reconciling the bank to your statement, to the bank account statement, it actually does a little bit more than that.

If I go ahead here into actions and hit test report and preview, it's actually running a test report on the current bank rec telling you the status of this bank rec whether you balanced it out or not. And there is a reason why I’m bringing it up here because it clearly shows you what's going on, so in here I can see for example balance statement thing like that and the important part here is GL balance is 561,000 GL balance.

Ok, so even though we are reconciling the statement of the bank to the bank ledger entries NAV likes to reconcile it also to the GL and if you had two banks going into the same GL, then you would never be able to reconcile one Bank to the GL, unless there are no transactions in the other bank account or something like that.

And you’d have obvious problems, so this is a key aspect, so you would have to set up a separate posting group for each one of the bank accounts by going into a separate GL account, and that is actually set up like that in standard NAV or in the Cronus database but nowhere does it really tell you that this is the case, so people that may set up the system might have a rather inconvenient realization when they start reconciling their banks and nothing matches out if they actually did group them together.

So I hope you learned something from this. It's a pitfall to avoid    



Get the Latest Video Tutorials in your inbox:

More Videos: