Cost Accounting in Microsoft Dynamics NAV

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Today we're talking about an underutilized feature in Dynamics NAV called Cost Accounting. With Cost Accounting, we're going to show you how to track things like non-financial Unit Accounts, dynamically allocate cost across your organization using those unit accounts or traditional financial measures, and how to budget and report on that data, and manage the allocations.

First, Cost Accounting can enable you to track non-financial accounts and unit accounts such as square footage and FTEs. Next, it enables automatic cost allocations using either those non-financial accounts or your traditional financial accounts from your General Ledger. You can allocate costs to groups (called objects in NAV) that are NOT in your chart of accounts—such as locations or product lines, geographies or other groups. You can also allocate costs based on product unit sales.

Watch the video above for the complete Cost Accounting tutorial.

If you have any questions or you would like a little deeper dive into this functionality, call us at (859) 252-6225 and let us know. If you’d like the slide deck, I’d be happy to share that with you as well.

by TrinSoft, LLC a Microsoft Dynamics NAV "Navision" Enterprise Partner in Kentucky

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