Debit / Credit in Dynamics NAV - Basics

Debit / Credit in Dynamics NAV - Basics

In this particular course I am going to teach the basics of debit and credit in the contest of Dynamics NAV. You do not have to have any experience with debit/credit, but it will help if you do. The course therefore is for the beginner with no debit/credit experience as well as the more experienced user or consultant needing a brush up.

The course consists of two videos where the first video focuses on how to book your debits and credits when you are buying and selling in cash whereas the second video focuses on the same transactions but where you buy and sell on credit.

The first video starts with an explanation of the concepts of Assets, Liabilities, Profit and Loss and once I’ve gone through that, we will look at the following debit/credit transactions:
- The first transaction to start a company.
- Cash Transactions without VAT.
    - Buy a pizza.
    - Buy an iPad for resale.
    - Sell an iPad.
- Cash Transactions with VAT.
    - Buy a pizza.
    - Buy an iPad for resale.
    - Sell an iPad

In the second video we are going through the same transactions, only this time we will be buying and selling on credit.
- Credit Transactions without VAT.
    - Buy a pizza.
    - Buy an iPad for resale.
    - Sell an iPad.
- Credit Transactions with VAT.
    - Buy a pizza.
    - Buy an iPad for resale.
    - Sell an iPad

In addition, we will look at booking the debits and credits when
- Paying our Vendor
- Receiving money from our customer
- Move our profits to the Equity (retained earnings).
- Buy and iPad the NAV way.

When you have completed this course you will have a solid understanding of accounting and debit/credit book keeping. 

Are you working with Dynamics NAV and would you know how basic accounting works? Then this Debit / Credit course is it!

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What you will learn

• You will be learn basic accounting and in the context of Dynamics NAV.

Rating: 4.05

Level: Beginner Level

Duration: 1.5 hours

Instructor: Thomas Terkelsen