Introduction

The one-day Microsoft Business Solutions – Navision® 3.70 Inventory Costing course covers all aspects of the Inventory Costing granules available for Microsoft Navision, as well as conceptual information on costing in general. This course provides the background information to set up inventory costing, how costing works, and how to set up costing in Microsoft Navision.

A thorough understanding of these topics allows you to efficiently set up customers’ handling of their inventory.

Audience
The intended audience for this course is partners wishing to learn how to set up Inventory Costing in Microsoft Navision for their customers.

The class is targeted toward sales people, consultants and implementers needing to understand the technical aspects of Microsoft Navision Inventory Costing and gain foundational knowledge of the application functionality.

This course is also targeted at anyone who wants to become certified in Microsoft Navision 3.70 Financial Management, as there are questions on the Financial Management test related to the Inventory Costing area.

At Course Completion
After completing this course, students should familiar with:

Costing concepts and terminology
Inventory costing principles in Microsoft Navision
Inventory costing functionality in Microsoft Navision
Setting up Inventory Costing in Microsoft Navision

Prerequisites
Before attending this course, students must have:

General knowledge of Windows
Completed the Microsoft Navision Financial Management Training or on-line Tutorials
Some knowledge of basic accounting principles

Course Outline
Chapter 1: Introduction
The purpose of this chapter is to give students a general overview of how the Inventory Costing course fits into the Microsoft Navision curriculum and the approach used in teaching the course. Additionally, it provides information on how to install Microsoft Navision and Cronus, the demo company.

Main Topics
Inventory Costing and the curriculum
The approach used in the course
Installing Microsoft Navision

After completing this chapter, students should able to:

Understand how the course fits into the curriculum and certification program.
Install Microsoft Navision on their own machine.

Chapter 2: Concepts & Terms
This chapter focuses on general inventory costing concepts and terminology. We examine the basics of inventory accounting, cost categories, inventory valuation, cost objects, inventory acquisition and cost flow assumptions.

Main Topics
The role of inventory accounting
The concept of cost categories
The bases of inventory valuation
The basics of cost objects
The basics of acquisition of inventory
The basics of cost flow assumptions

After completing this chapter, students should familiar with the basics of:

Inventory accounting
Cost categories
Inventory valuation
Cost objects
Inventory acquisition
Cost flow assumptions

Chapter 3: Inventory Costing Principles in Microsoft Navision
This chapter focuses on how the inventory costing concepts presented in the previous lesson are used in Microsoft Navision. We examine how Microsoft Navision determines the values of Inventory, the posting flow and posting inventory to the General Ledger.

Main Topics
Determining the Value of Inventory
Inventory Posting Flow
Inventory Posting to G/L

After completing this chapter, students should able to:

Determine the value of inventory
Understand the inventory posting flow in Microsoft Navision
Understand how inventory posts to the G/L in Microsoft Navision

Chapter 4: Inventory Costing Functionality
This chapter focuses on the inventory costing functional in Microsoft Navision. We examine inventory acquisition, adjustment, valuation and revaluation, in addition to COGS, transfers and returns, posting inventory costs to the G/L and physical inventory.

Main Topics
Inventory Acquisition
Cost of Goods Sold
Inventory Adjustment
Rounding
Inventory Transfers and Returns
Inventory Valuation
Posting Inventory Costs to the General Ledger
Inventory Revaluation
Physical Inventory

Example 1– Item Valuation with Direct Costs Only
Create a new item and assign Direct Costs valuation

Example 2– Item Cost with Direct and Indirect Costs
Create a new item and assign both Direct and Indirect Costs

Example 3 – Item Value Based on Standard Costs
Create a new item and assign Standard Costs

Example 4 – Correcting Wrong Posting
Correct a transaction that was posted incorrectly

Example 5 – Valuation Date for Sales and Purchases
Create a valuation date for sales and purchases

Example 6 – Valuation Dates for Transfers
Set the valuation date for transfers

Example 7 – Sales of Inventory Valued According to FIFO
Use FIFO for inventory valuation

Example 8 – An Item is Valued at Average Cost
Use Average Cost for inventory valuation

Example 9 - Sale Occurs before Purchase
Sale of an item occurs before the item is purchased

Example 10 – Handling Rounding for the Average Valued Item
Rounding on an item with Average Value

Example 11 – Valuation of a Transfer Entry
Assigning value to a transfer entry

Example 12 – Inventory Valuation
Valuing Inventory

Example 13 – Inventory Posting to G/L
Posting inventory to the G/L

Example 14 – Expected Inventory Cost Posting
Posting an expected inventory cost

Example 15 - Inventory Revaluation
Revaluing inventory

Example 16 – Handling Physical Inventory Differences
Handling differences in physical inventory

After completing this chapter, students should able to:

Value their inventory
Work with different methods of figuring COGS
Make adjustments to their inventory costs
Handle inventory transfers and returns
Post costs and expected costs to the G/L
Revalue their inventory
Handle their physical inventory

Chapter 5: Setting up Inventory Costing
This chapter focuses on how to set up Microsoft Navision to handle inventory costing

Main Topics
Inventory Costing Setup in Microsoft Navision

After completing this chapter, students should able to:

Set up inventory costing in Microsoft Navision
Conclusion
After covering the above, we discuss the key points that have been covered throughout this course and leave time for questions.

For more information or to give feedback, send e-mail to info@OneApex.com or call 949-597-2100