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NAVUG Summit Q&A

Couldn’t make it to NAVUG Summit 2016? No problem, we have captured some of the most compelling questions and answers from the “Stump the Finance Experts” session.

Students raising hands

Q: How do you issue a credit memo without also crediting the inventory back (say the inventory was damaged, lost, or the company just doesn’t want to add it back to inventory)?

A: Create a location code for Field Destroy and bring in the credited inventory at a zero value then use the physical inventory journal to make a manual count adjustment to zero it out.

 

Q. How do you categorize Accounts Receivable based on inventory (inventory of what the customer purchased)?

A. Use Product Categories, or use a customization from your partner, or create Dimensions on the Item, or use Dimensions and Jet Reports to filter for the information.

 

Q. How do you split vendor payment terms, such as 1/3 of full payment is due at 30 days, the next 1/3 is due at 60 days, and the final 1/3 is due at 90 days?

A. Have 4 GL account lines at the bottom of the invoice; 3 for each 1/3 payment and a 4th to reverse the items.

 

Q. How do you run a report or find the daily Cash in Transit (e.g., outstanding checks)?

  1. Run the bank reconciliation daily. You could also run bank ledger entries from the bank account card and filter for open.

If you would like to know more about what was discussed at NAVUG Summit, contact one of ArcherPoint’s consultants today. And, for more Dynamics NAV-related information, be sure to visit our resource center and subscribe to our NAV developer blog.

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