Agenda
The purpose of writing this blog is to understand how to create masters (e.g., Customer, Vendor, Item, GL Accounts and Bank accounts) manually inside the business central/NAV. As you all aware that there are several fields available when you open any master card, and all fields are not important and mandatory to fill. So, which one is mandatory we are going to see that.
Note: For this blog we consider the nature of business is Trading not Manufacturing or Assembling.
Demonstration
Item Card: -
What is Item – The term inventory refers to the raw materials used in production as well as the goods produced that are available for sale. A company's inventory represents one of the most important assets it has because the turnover of inventory represents one of the primary sources of revenue generation and subsequent earnings for the company's shareholders. There are three types of inventories, including raw materials, work-in-progress, and finished goods. It is categorized as a current asset on a company's balance sheet.
How to create Item Card in Business Central – Go to the Item List page and then hit “NEW” button for new item creation:
When you hit new button then item card page will open. Same as Customer Card and Vendor Card, Item card is also a combination of Fast Tab.
In the Item fast tab, below is the important fields which need to be filled and mandatory at the time of creation:
No. – Item No. automatically populated from No. series setup if you set this as default or user can fill this manually at the time of creation.
Description – Fill the Item Name of the Item
Type – In Business Central there are 3 option available – Inventory, Non-Inventory and Service. If you want to keep your inventory and post the costing then for that you select Inventory, for service item you can select Service. Non-Inventory is used when user do not want to keep the inventory.
Base Unit of Measure – Select the unit of measure for the item, e.g. – Pcs, KG, No. etc.
In the Cost and Posting fast tab, below is the important fields which need to be filled and mandatory at the time of creation:
Costing Method – Costing method is automatically come from the Inventory setup whatever business is fix. User also can change if want the costing method.
Gen. Prod. Posting Group – This is most important field on Item card, if this will not be selected then at the time of making any Inventory related transaction error will be encountered. This field will be use on Gen. Posting Setup, based on this Inventory (COGS) account and other Gls will be impacted.
Inventory Posting Group – This is also most important field on Item card, condition same as above for Gen. Prod. Posting Group. With the help of Inventory posting group related Gls will be impacted.
GST Group Code – For Indian localization User select the GST group code, when you select this then at the time of creating purchase and sales document this will come automatically. (Below all three fields available only for Indian localization).
GST Credit – Business needs to decide the if GST credit avail for this item or not.
HSN/SAC Code – User select the related to HSN code for the item and SAC code for the service item.
In the Item Tracking fast tab, below is the fields which need to be filled but depend upon the business need. If business want to track their goods, then this field can be utilized:
Rest other fields can be filled based on information provided and Business requirement.
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