Purchase Setup in Business Central

Number Series:

For each company that you set up, you need to assign unique identification codes to things such as general ledger accounts, customer and vendor accounts, invoices, and other documents. Numbering is important not only for identification.

In below example create new number series for vendor.

you can also set a number series up to allow that you manually enter the new number. You specify this with the Manual Nos. check box.

The number series line contains information such as the first and last number in the series and the starting date.

To set up where a number series is used:

1. Choose the search icon, enter purchases&Payable, and then choose the related link.
2. In the purchases&Payable window, on the Number Series Fast Tab, select the desired number series for vendor.

 

Vendor Posting Group:

The primary purpose of posting groups is to identify the balance sheet account for each subsidiary, or supporting ledger.The financial value of any purchase transaction must post to dedicated accounts in the general ledger.

Maps the accounts payable account, payment discount accounts, invoice and application rounding accounts, and interest and fee accounts relating to vendors.

Setup vendor posting group go to purchases&Payable and click Vendor posting Groups Button.

Assign Vendor Posting Groups:

To assign Vendor Posting Groups open the vendor card, expand the invoicing fast tab and In the Vendor Posting Group field, enter the appropriate posting group.

Check Vendor Posting Entry:

Create new purchase Order and click button on post.

After post purchase Order it will open Posted Purchase invoice. In posted purchase invoice click Navigate button to view G/L entry.

After click on navigate button below screen will display and click G/L entry.

Below screen shot you will see Vendor posting group entry in G/L entry.

Check General Posting Entry:

The General Posting Setup page is a matrix that combines business and product posting groups. For each combination of business and product posting groups, users can assign a different set of G/L accounts.

In the Gen. Bus. Posting Group field, enter the relevant business group.  In the Gen. Prod. Posting Group field, enter the relevant product group to complete the combination.  In each relevant account field, enter the G/L accounts used to post transactions for the selected general posting combination.

Assign Gen. Bus. Posting Groups:

G/L entry:  

See above general posting setup purchase G/L account number and in G/L entry G/L account number is same.

Other two entry for direct cost applied for purchase amount one for positive entry and other negative.