Dynamics NAV - Chart of Accounts
Watch this video for an overview of the Chart of Accounts in Dynamics NAV!
To find the Chart of Accounts in Dynamics NAV simply search ‘Chart of Accounts’ in the ribbon and select the first option. The Chart of Accounts is basically a list of accounts that are used by members of the finance team to record any transactions in a company. To add a new account, select ‘New’ located in the ribbon. Fill in the relevant fields for the account to be created such as number, name, whether the account will correspond with the income statement or balance sheet, general posting type, the general business posting type and general product posting group. Then simply click on ‘OK’ once your input of data is complete. Now your account has been created.
If you go back to the ribbon and select ‘Indent Chart of Accounts’, then select ‘Yes’, you can now see the account has been indented. You can also edit the Chart of Accounts by selecting the relevant account and then click ‘Edit’ in the ribbon. You can input any changes you wish to make. You can also delete an account by clicking ‘Delete’ in the ribbon, however you cannot delete an account with transactions associated with it.
You can also set filters; say perhaps you want to see a specific day’s transactions, you would set a filter for ‘Net Change’ of ‘Not Equal to 0’ so it will take out any 0 balances. By setting a date filter to ‘W’, which is work date, you can instantly see the day’s ingoings and outgoings all in one place.