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An Overview of the Chart of Accounts in Microsoft Dynamics NAV

The chart of accounts is a listing of all accounts used in the general ledger of an organization. The chart is used by the accounting software to aggregate information into an entity's financial statements. The chart is usually sorted in order by account number, to ease the task of locating specific accounts. The accounts are usually numeric, but can also be alphabetic or alphanumeric.  Sample Chart of Accounts Accounts are usually listed in order of their appearance in the financial statements, starting with the balance sheet and continuing with the income statement. Thus, the chart of accounts begins with cash, proceeds through liabilities and shareholders' equity, and then continues with accounts for revenues and then expenses. Many organizations structure their chart of accounts so that expense information is separately compiled by department; thus, the sales department, engineering department, and accounting department all have the same set of expense accoun...
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Fixed Assets - Series 1: Fixed Assets Setup in Microsoft Dynamics NAV


A company can keep track of all information relevant to fixed assets, such as maintenance costs and schedules, acquisition costs, and related insurance information.

Fixed Assets in Microsoft Dynamics NAV has an unlimited number of depreciation books that track depreciation expenses reliably. You can have one book integrated with the general ledger to reconcile your fixed asset transactions with the general ledger, and another book, not integrated with the general ledger, for internal fixed asset calculations that you do not want to be reflected in the general ledger. Depreciation books define various depreciation rules. In addition to all the ordinary methods of depreciation, Fixed Assets can create custom depreciation methods. With the flexibility and real-time nature of the fixed assets functionality, the periodic income and expense figures are always accurate and up to date.

Use the Fixed Assets Setup page to select the default settings for Fixed Assets.
To open the Fixed Assets Setup page, in the navigation pane, click Departments > Financial Management > Fixed Assets > FA Setup.
 The page has the following two FastTabs:
  • ·         General
  • ·         Numbering



General FastTab


The General FastTab contains the basic and general information about fixed assets, for example, the default depreciation book, posting period, and number series which are used for the fixed assets and are relevant to correctly track maintenance costs, manage insurance policies related to fixed assets, post fixed asset transactions, and generate various reports and statistics.

The Default Depr. Book field contains the default depreciation book on journal lines and purchase lines and when you run batch jobs and reports. You can enter one of the depreciation book codes in this field. Be aware that having a default depreciation book in the setup does not prevent you from creating multiple depreciation books.

If the asset is one main asset that consists of multiple component assets, you can select whether you want to be able to post only to the components or to the main asset as well. Select the Allow Posting to Main Assets option to post to a main asset.

Use the Allow FA Posting From and Allow FA Posting To fields if you want to restrict posting to the fixed assets from a certain date, to a certain date, or in a specific time interval, for example, to restrict posting to the fixed assets within the current year or any previous period. If you leave these fields empty, no time restriction is applied to posting to the fixed assets.

If your configuration includes insurance facilities, enter a code in the Insurance Depr. Book field to enable posting of insurance coverage ledger entries.

If the Automatic Insurance Posting field is selected, the program allows for the acquisition costs posted to fixed assets to automatically post to the insurance coverage ledger.


    Numbering FastTab
    The Numbering FastTab has two fields:
    • ·         Fixed Assets Nos.
    • ·         Insurance Nos.

    Use both these fields to assign number series to fixed assets and the insurance policies that cover them.
    To see the number series that are set up in the field, select the field.

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