Financial Reports in Microsoft Dynamics NAV 2017

Did you know the most commonly used financial statements are available upon your first login to Microsoft Dynamics NAV 2017?

It really is easy. Sign in to your Microsoft Dynamics NAV 2017 account and then follow these few steps to run your financial statements in a matter of moments.

1. From Home, select the actions tab in the upper left corner, and then choose Financial Statements.

2. Choose the financial statement you wish to view. You will have a choice of the 4 most commonly used statements; Balance Sheet, Income Statement, Statement of Cash Flows, and Statement of Retained Earnings. We have chosen the balance sheet for our example.

3. Specify date, or date range, you wish to report on and then select Preview.

And just like that, you are now viewing financial statements in Microsoft Dynamics NAV 2017!

Microsoft Dynamics NAV 2017 also gives you full control over your chart of accounts and how you want your accounts to appear on the financial statements. By using the G/L Account Categories feature, you are able create new categories and map accounts to those categories, providing personalization of the structure of your financial statements. Here is an example of how you can provide more details on your financial statements for your cash accounts.

4. From Home, select the search icon in the upper right corner of the page.

5. Once the search window appears, enter Account Categories. The search results listed will be reduced as you type. Select G/L Account Categories from the search results.

6. Select the row on the page that has a description of Cash, select the Edit List action from the ribbon, and select the New action from the ribbon. A new record will appear in the list.

7. Enter in a description of Checking Account and tab to the G/L Accounts in Category column. In this field, select the … icon. A listing of your chart of accounts will appear. Select G/L Account number 10100 and select OK at the bottom right of the page.

8. Tab to the Additional Report Definition column and from the drop down list, select Cash Accounts. This lets our system know which financial statements this category should be used with. Once the new category is defined, select the Indent Action from the ribbon.

9. Let’s create 2 additional categories for cash. Select New from the ribbon and add additional categories, one for Savings Account and the other for Petty Cash. Map the categories to G/L Account 10200 and 10300 respectively, assign them to the Cash Accounts under Additional Report Definition and Indent the new categories.

10. Select the Generate Account Schedule action from the ribbon. This will regenerate the layout of the financial statements to include the newly added categories.

11. Follow steps 1 – 3 to render the Balance Sheet. Notice the new breakdown of your cash accounts and the new subtotal that was automatically created.

This is just one of many examples of how Microsoft Dynamics NAV 2017 makes you more productive.

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