General Posting Setup

General Posting Setup in NAV is combination of:

  1. General Business Posting Group

    Essentially this is the WHO we deal with? When setting up business posting groups, you must consider:

    • How many groups you need for breaking down sales by customers and
    • How many groups you need for breaking down purchases by vendors.
    • The business groups can be set up to group customers and vendors by geographical area (Domestic, EU countries/regions, Overseas, and so on) or type of business, or to distinguish between private entities and government agencies.

    Typically, you can attach a default GST Business Posting Group, which determines calculation and posting of GST according to the location (country/region) of the customer or vendor involved in the transaction.

  2. General Product Posting Group

    Essentially this is the WHAT we deal with? When setting up product groups, you must consider:

    • How many groups you need for breaking down sales by items and resources and
    • How many groups you need for breaking down purchases by items.

    Typically, you can attach a default GST Product Posting Group, which determines calculation and posting of GST according to the type of item being purchased or the type of item or resource being sold.

For each combination, you can fill in account numbers for posting of transactions related to sales, purchases, inventory and jobs. This includes accounts for posting of discounts, inventory adjustment, and so on. You can enter as many combinations as necessary.

About Paresh Sharma

https://au.linkedin.com/in/itspareshsharma

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