Categories

What’s New in NAV 2016 Chart of Accounts and Dimensions

Ready to Upgrade?In Microsoft Dynamics NAV 2016, the Chart of Accounts and Global Dimensions tabs are useful for your data analysis.

The Chart of Accounts’ section is laid out with headers and totaling accounts which come in handy for viewing a quick trial balance onscreen and for creating financial reports. However, it only includes the natural account so it is very flat. It does not include references to divisions, departments, customer types, or product lines.

This brings us to NAV 2016 dimensions, which tracks these references for the Chart of Accounts.

Dimensions provide us with the ability to add additional analysis levels to NAV Transactions. It is very flexible, as it is not tied to your GL Account Structure, you can add new dimensions at any time, and you can set default dimensions for master files. This means that a lot of distribution to these dimensions are automatic and happen behind the scenes.

When you need to add new analysis to track more information within NAV 2016, you don’t need to restructure your Chart of Accounts or add new General Ledger Accounts, you simply add the new dimension you need. This is much easier than a Segmented Chart of Accounts, which requires you to restructure by adding more segments.

The NAV 2016 Dimensions are also unrestricted, as you can have as many dimensions as you want, with as many dimension values as you need within your dimensions. In your financial reports, you are able to view the effects of these dimensions, view the details of the data, and filter the dimensions as you go. Using dimensions in NAV 2016 allows you to break out your data the way you need to see it without having to clutter up your chart of accounts.


X