Business Central Introduction Selling and Purchasing Ing.J.Skorkovský,CSc. Department of Business Management Faculty of Business and Administration Masaryk University Brno Czech Republic Most importatnt objects in purchasing and selling •Customer card •Vendor card •Item card •Locations •G/L Account Customer card access List of customers See next slide Customer card –tab General Customer card –tab Invoicing Customer card –tab Payments Relation to G/L accounts-> Pre-accounting of accounts related to sales (předkontace) – one of three approaches Item card (from list to card) Item card – tab General Item card –tab Inventory Item card – tab Costs &Posting Item card – tab Prices & Sales and tab Replenishment Vytváření prodejní objednávky Zboží 3 Zákazník Nutno zadat množství Hlavička prodejní objednávky Řádek (řádky) prodejní objednávky Vytváření nákupní objednávky Zboží 3 Dodavatel Nutno zadat množství Hlavička nákupní objednávky Řádek (řádky) nákupní objednávky See next slide Double-entry booking (Selling process –> Sales Order->Sales Invoice) VAT (25%) Account (5610) Revenue Account (6110) Customer Account (2310) Bank (2920) 125 25 100 125 125 Parameters Item card Parameters Sales Order Header Customer Sales Order Line Invoice (1st) Payment (2nd) Balance on Customer card = 125 ->100+25 Balance on Customer card = 0 ->125-125 Debit Credit Debit Credit Debit Credit Debit Credit Note: the amounts in total entries do not match the amounts in the animated example. It is only an explanation that the relevant entries (transactions) are created gradually during the business example Relace CZ a ENG účtů 311 - 2310 602 - 6110 343 - 5610 221 - 2920 125 125 -100 -100 -25 -25 125 Sales Order The sales order printing will be demonstrated in the classroom and is not part of this presentation Sales Invoice (F9) BC creates all entries Either use the F9 key or find the Post icon. It is easier and therefore faster to use keyboard shortcuts. G/L Entries Item Ledeger Entries Customer Ledger Entries Three possible options Results of posting Sales Order Posted Sales Invoice (after posting by F9 hot key) General Ledger (impacts) – One way to get at it + Sign -> Debit , - Sign -> Credit 719,50+179,88=899,38 Demand creation – Sales Order (only theory so far) •Reasons - instructions for creating the model •Planning - calculation of replenishment and Creation of Purchase Order (PO) •Creation of two different PO covering demand with different costs •Posting both PO (Purchase Order documents) •Partly posting of Sales Order (For example, not everything was delivered by Vendor ) •See applied Item Ledger Entries (this affects stock levels) •See important fields on the Item card •Inventory Adjustment (will be explain at the end of the course PIS1 - and the startd of PIS2 course) •See the impact on item General Ledger Entries •See the impacts on Value entries (will be explain more in detail later – only PIS2 course !!!!) • Logic Parameters Item card Customer card Parameters Sales Order Header Sales Order Line Requisition worksheet Netting Parameters Item card Vendor card Parameters Purchase Order Header Purchase Order Line Sales Item ledger entry Purchase Item ledger entry Purchase Item ledger entry Value entry Business Central supports supply planning for wholesale companies where the resulting supply orders can only be transfer and purchase orders. The main interface for this planning work is the Requisition Worksheet page, Which will be shortly described by tutor (only PIS2 coursce). Value entry Value entry Material Requirement Planning Proposals to replenish warehouse Customer card (already presneted in this show) Customer list Customer card – access to entries from caclulation field Customer ledger entries from the card Customer card Customer entries – part of the file Customer card – already presented New item card (FIFO) Lot-for-lot : The quantity is calculated to meet the sum of the demand that comes due in the time bucket. Lot Accumulation period explanation on the next slide Lot- for- Lot-> Economic Order Quantity EOQ & Wilson Formula Calculation | Free Excel Examples Time Quantity One purchase Time Quantity Instead of three different purchases over time, everything is purchased only once FIFO costing method (home study) An item's unit cost is the actual value of any receipt of the item, selected by the FIFO rule. In inventory valuation, it is assumed that the first items placed in inventory are sold first. New Sales Order To find Sales orders you can use searching window !!!! List of Sales Orders already created but not posted so far Sales Order created It's just a warning based on Sales and Setting warning types in BC Credit limit (LCY) Overdue Both Warning No Warning Options Credit Limit (LCY) Specifies the maximum amount you allow the customer to exceed the payment balance before warnings are issued. Learn more Explanation : LCY=Local Currency (in ourt model = British pound - thanks to the fact that we work with an English demo database, which is used as a demo database worldwide) Sales Order Print confirmation->Preview only It can also be in format pdf Sales Order posting (by use hot key F9)->Result->Sales invoice You can also find it in BC using the search window List of all Posted Sales Invoices Customer Ledger Entries (raw data) - review Ctrl-F7 Item Ledger Entries Item card 1936-S Ctrl-F7 Edit Costs, selling prices, decrease or increase in stock levels) General Ledger Entries Purchase Order – List of Vendors Vendor Card Purchase Order – Vendor Card General Ledger Settings – already presented •Link to the general ledger account settings on which the purchase order, that will become the purchase invoice will be posted See tab Invoicing and options : Show more fields, Select from full list->Edit list->Option Setup Item card –> one card=one chosen parameter Vendor card –> one card = one chosen parameter Purchase Order – document (Header and Lines) Purchase Order (PO) – document (Header and Lines) Where there is an orange asterisk you need to add always the data !!!! PO- Preview PO - preview posting by appropriate icon Invoice (could be modified by personalize feature-adding fields) Inventory (could be modified by personalize feature-adding fields) G/L Entries see next slide General Ledger Registers-> Archive PO – General Ledger Entries - preview PO – F9 posting Use of items journal (in our case to purchase) F9 See created Item entries One partd od the Item card Created item ledger entries (transactions) Máš pravdu. Asi jsme napřed měli postavit ten hrad a teprve potom ten vodní příkop.