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Microsoft Dynamics NAV Financial Management by Laura Nicolàs Lorente, Cristina Nicolàs Lorente

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Chapter 3. Accounting Processes

So far we have seen the accounting tasks that require most of the time of an accountant, because they are the bulkiest tasks: posting sales, purchases, and payments. But there are many other accounting tasks that have to be performed. In this chapter we will see the following accounting processes:

  • Payroll accrual entries, provisions, and others
  • Taxes
  • Fixed assets
  • Inventory valuation
  • Annual accounting close
  • Consolidation with other companies

Posting accounting transactions

The system can automatically create and post many accounting transactions such as the ones regarding sales and purchase invoices, for instance. There are many other transactions that end up in an accounting entry automatically created by the system. We ...

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