Here’s how you can post inventory cost with general ledger in Dynamics 365 Business Central

Inventory management is critical for small and medium sized businesses. Be it eCommerce, retail or any product based business, having the right amount of stock, in the right place; at the right time equip your business for long term growth.
Dynamics 365 Business Central’s inventory management feature makes it easier to manage inventory.

Here’s how you can manage inventory in Business Central

inventory cost

Once you entered all inventory information such as sales shipments, purchase invoices, or inventory adjustments, the changed item costs are recorded in item value entries. For reflecting this change in your financial books, Business Central automatically posts it into related inventory accounts in the general ledger.

For every inventory transaction that you post, the appropriate values are posted to the inventory account, adjustment account, and COGS account in the general ledger.

Business Central also lets you audit the reconciliation between the inventory ledger and the general ledger. Here’s what the inventory – G/L reconciliation offers-
  • Exposes reconciliation differences by comparing what is recorded in G/L and what is recorded in the inventory ledger (value entries).
  • Displays un-reconciled cost amounts in the value entries in the inventory ledger as if they were mapped to corresponding inventory-related accounts in G/L and compares those to the totals actually recorded in the same accounts in G/L.
  • Reflects the double entry structure of G/L by visually presenting data as such. For example, a COGS entry has a corresponding inventory entry.
  • Lets users drill down and see the entries that make up the cost amounts.
  • Includes filters to narrow the analysis by date, item, and location.
  • Explains reasons for reconciliation differences in informative messages.

As you can see, Dynamics 365 Business Central offers you the ability to effortlessly manage your business’ inventory. Thinking about transitioning your organization to dynamics 365? Contact Square International Consulting today.

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