Clients that recently migrate in to NAV, often experience the above issue when posting transactions through documents – purchase/sale or through journals. NAV users may interpret this error in various ways and the easiest way to resolve this would be to define a “Gen. Posting Type” against the G/L account card.
However, before fixing this issue, it is very important to understand what is causing the issue and what is the right resolution to prevent this error from occurring.
When user’s setup a new G/L account, the “Gen. Posting Type” field should be filled in only for revenue and expense accounts where GST is involved. If the transaction will impact your BAS (GST Reporting) then this field must be populated with either Purchase or Sale. If not, then it must be blank.
The Posting Groups consists of “Gen. Bus. Posting Group”, “Gen. Prod. Posting Group”, “GST Bus. Posting Group” and “GST Prod. Posting Group”. If the “Gen. Posting Type” field is defined, then we need to define the Posting Groups to correctly calculate the GST and post correct transactions to general and sub-ledger entries. If the transactions do not involve any GST, then the “Gen. Posting Type” and Posting Groups must be “blank”.
This post was written by Rishi Kanojia, Solution Specialist at Evolution Business Systems.
If you have out-dated business software that’s limited in its reporting and analytical capabilities – then you should to talk to EBS about a powerful business management software solution – Microsoft Dynamics NAV. To find out more about our suite of Microsoft business management software solutions, please call Paul Woods at EBS for an obligation free discussion on 1300 303 973.
Subscribe here to get our free EBS monthly enewsletter to get valuable blog articles from EBS and the latest updates on the Microsoft Dynamics product suite.