Cost Accounting in Microsoft Dynamics NAV 2013

Cost Accounting in Microsoft Dynamics NAV 2013

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Microsoft Dynamics NAV 2013 delivers compelling application functionality that helps businesses gain greater control of their business through increased visibility and insight into how the business is performing. Cost Accounting in Microsoft Dynamics NAV 2013 gives you an efficient way to control your company’s costs by providing visibility and insight into budgeted and actual costs of operations, departments, products and projects.

Today, more than ever, companies need to be able to identify budget deviations as soon as they occur and take the appropriate action. Synchronizing cost information with the general ledger and then allocating that information into different costs centers and cost objects, Cost Accounting in Microsoft Dynamics NAV 2013 provides management with an accurate and immediate overview of the company’s expenditures, including from where the costs are coming, which departments, projects and items and how much they are spending. Managers can see how the company is doing – whether the company is profitable or not – and have this analysis available at any time rather than at the end of the year. They are able to make informed decisions faster and more efficiently regarding performance, reducing and managing costs, adjusting sales prices for goods and services, or deciding to discontinue a product or project.

The Cost Accounting functionality has different possibilities to manage costs:

  • Transfer costs from general ledger.
  • Enter and post internal charges and allocations directly in the Cost Accounting Cost journal.
  • Predefine recurring cost allocation rules on cost allocation cards and execute in a batch job.
  • Undo allocations.
  • Cost budgets and transfer cost budget entries to actual entries.

The Cost Accounting functionality retrieves data from the general ledger but works independently from the general ledger. As a result, transactions that are posted in Cost Accounting will not affect the data in the general ledger.

Cost Accounting in Microsoft Dynamics NAV 2013 is fully integrated with the rest of the standard application and includes other functionality such as a budget feature for cost accounting. This works like the budget feature for the general ledger. Also included is the ability to import and export cost accounting budget data to Microsoft Excel, create reports, aligning to multiple dimensions, and other enhancements.

-Nuno Bento

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  • But I miss the dimension functionality.

    If I book with several dimension, I can not analyze them in Cost Accounting.

    Are enhancements planned here?

  • Please check the upcoming “NAV 2013 - How To - Video - Cost Accounting” for additional information on how to setup and use Cost Accounting, in particular, the transfer rules and how to link Dimensions to Cost Centers and Cost Objects.

    This posting is provided "AS IS" with no warranties, and confers no rights.

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