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Understanding Expected Cost for Microsoft Dynamics NAV™

 

Choosing the appropriate costing method is a key factor to successfully managing costing information. Each costing method has different peculiarities inherent to the costing method. We are not speaking of peculiarities in Dynamics Business Central, but of the costing method itself. The important part is that once you have selected a costing method for an Inventory Item, and have posted the first transaction, it is not easy to change costing method.

It is worth the effort to make sure you start out on the right foot, when deciding on costing methods.

 

Costing Method choices

Your choices of costing methods  are

  • No costing
  • Weighted Average costing
  • Standard Costing
  • FIFO
  • Specific (only if you work with serialized inventory)
  • LIFO (Not acceptable in most accounting environments).

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Why your business needs EDI

A growing business dealing with repeating trade with a party could benefit from EDI. Examples could be ordering supplies from a vendor, sales via a merchants, wholesale customers, or having to deal with third parties such as insurance paying medical claims, tax authorities and shipping carriers.

Advantage can be derived, especially if the effort of entering transactions becomes too time consuming or manual capturing is prone to accuracy errors. Electronic Data can reduce process costs and raise satisfaction levels with you Customers. Often one or more business processes can become too resource intensive, costly, or delays in manual handling does not keep up with demand. For businesses looking to maximize growth, while securing compatibility with dominant trade partners, the solution is to implement EDI.View more…