> For the complete documentation index, see [llms.txt](https://kb.bevica.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://kb.bevica.com/bevica-select/bevica_select_training/bevica_select_training_-_general_ledger_part_1.md). # General Ledger Part 1 General Ledger Part 1 for Bevica Select: chart of accounts, dimensions, journals, VAT, posting groups, currencies, and key checks before go-live. General Ledger (Part 1) is the base layer for finance in Bevica Select. It’s where you learn journals, dimensions, currencies, and core posting review. ### Before you start * Access to Bevica Select * [Introduction to Business Central](/bevica-select/bevica_select_training/bevica_select_training_-_introduction_to_business_central.md) ### Training outcomes After you complete this module, validate your learning using [Outcomes - General Ledger Part 1](/bevica-select/bevica-select-outcomes/bevica_select_training_outcomes_-_general_ledger_part_1.md). You should be able to: * Navigate from documents to **G/L Entries** and subledger entries * Post, reverse, and correct **general journals** * Set up and apply **dimensions** (including default dimensions) * Use **Find Entries** to understand what entries a posting created * Set up and maintain **currencies** and **exchange rates** (if used) * Run **Adjust Exchange Rates** (if used) * Understand **VAT** dates and VAT settlement basics (if used) ### Chart of accounts The chart of accounts in Bevica Select is mostly predefined so you shouldn't need to create many new accounts. The Bevica Chart of Accounts file below lists the General Ledger Accounts in Bevica, what they are used for and which accounts you can delete or rename. {% file src="/files/ljrqS3NXULfvBBPGWPRI" %} You still need to understand key account fields and drill-down behaviour. **Read / complete** * [Set up the chart of accounts (Microsoft Learn)](https://docs.microsoft.com/en-us/learn/modules/chart-accounts-dynamics-365-business-central/) (Est. 45mins) ### Dimensions Dimensions drive management reporting. They also stop bad postings if you enforce them. Bevica Select comes with a number of predefined dimensions (Cost Centre, Customer Group, Duty, Item Group and Salesperson). As part of the data migration you will need to populate your dimension values later in the project. This module explains the concepts of dimensions and how to set up and use them. See the reporting section of the finance training to find more about how you can report on dimension data. {% hint style="danger" %} Do not delete or amend the **DUTY** dimension. Do not set it as a default dimension on master data or manually enter it onto a transaction. {% endhint %} **Read / complete** * [Set up dimensions (Microsoft Learn)](https://docs.microsoft.com/en-us/learn/modules/dimensions-dynamics-365-business-central/) (Est. 1hr 15mins)
Microsoft Learn module breakdown
ModuleMinutesTypeNotes
Introduction - Set up dimensions and dimension values12Mandatory
Manually enter dimensions on a sales order5Mandatory
Set up global and shortcut dimensions5MandatoryDUTY is set up as shortcut dimension 8.
Set up default dimensions9MandatoryYou’ll do this during data migration.
Set up default dimensions for account types5MandatoryYou’ll do this during data migration.
Set up dimension combinations7Out of scope
Exercise - Set up a dimension with dimension values10MandatoryYou’ll create your own dimension values.
Check your knowledge8Mandatory
Summary2Mandatory
### Journals #### Journal templates and batches Templates and batches are the “containers” that control behaviour. All journal templates have been set up for Bevica Select. Some journal batches have been set up but you may want to add your own or modify the existing ones. * You can rename USER-A, USER-B and USER-C according to who will be posting general journals. * VAT will be used to post journals which have a VAT amount. See the VAT section below. * YEAR END will be used when running the Close Income Statement routine. This will be covered in the General Ledger Part 2 training session. * ZZ-DM will be used for your migrating your opening balances. **Read / complete** * [Set up general journal templates (Microsoft Learn)](https://docs.microsoft.com/en-us/learn/modules/general-journal-templates-dynamics-365-business-central/) (Est. 30mins) #### Create, post, reverse, and correct journals This module explains how to use general journals to post to general ledger and other accounts. You can reverse posted journal entries which are not correct. **Read / complete** * [Create and process journal entries (Microsoft Learn)](https://docs.microsoft.com/en-us/learn/modules/create-process-journal-entries-dynamics-365-business-central/) (Est. 1hr) * [Reversing general ledger entries](/bevica-select/faqs/reverse-general-ledger-entries.md) * [Correcting dimensions on posted G/L entries](/bevica-select/faqs/correct-dimensions-on-posted-g-l-entries.md) #### Recurring and periodic journals (if used) You are able to create recurring journals so you can post journal lines on a recurring basis. You can also post cost allocations by using key allocations that are based on percentages or amounts. **Read / complete** * [Post periodic journals (Microsoft Learn)](https://docs.microsoft.com/en-us/learn/modules/periodic-journal-entries-dynamics-365-business-central/) (Est. 1hr) {% hint style="info" %} Use Recurring Frequency of 1M+CM to move the posting date to the end of the following month once the journal has been posted. For more information see [Use Date Formulas](https://learn.microsoft.com/en-us/dynamics365/business-central/ui-enter-date-ranges#use-date-formulas). {% endhint %} ### Posted General Journals If the journal batch you post journals from has the 'Copy to Posted Jnl. Lines' field ticked, each time you post a journal, posted general journal records are created. You can search for **Posted General Journals** to view these. From this page you can recreate the journal lines posted to either repeat the same journal, or correct a mistake that was made if you are unable to reverse the transaction. You are able to: * Highlight the relevant line/s and select to **Copy Selected Line to Journal**. You select the journal batch you'd like the the journal created in, whether to replace the posting date or document number, or reverse the sign * Select **Copy G/L Register to Journal**. This will create journal lines for all G/L entries in the G/L register posted. ### Reviewing posted entries #### Where to look after posting Once entries have been posted, you can view them using the following pages: * **G/L Registers** - each time you post a transaction it will create an entry in G/L Registers. You can view the entries posted to each of the ledgers via the Process action in the ribbon. * **Chart of Accounts** - you can view General Ledger Entries by drilling down on the Net Change, Balance or Balance at Date fields on the Chart of Accounts page * **Specific ledger entries pages** - each of the subledgers have their own ledger entries pages. You can view the ledger entries from the master records or by searching for the page directly. * Customer - Customer Ledger Entries * Vendor - Vendor Ledger Entries * Bank - Bank Ledger Entries * Item - Item Ledger Entries * VAT - VAT Entries * **Find Entries** (formerly Navigate) - on any posted entry or transactions, you can use Find Entries to find all entries that were posted as part of that transaction. See [Find Entries (Navigate)](/documentation/guides/getting-started-and-navigation/find_entries_-navigate.md) ### Multiple currencies (if used) If you trade in more than one currency, you need three skills: 1. Setup currencies and exchange rates 2. Post foreign-currency documents and payments 3. Revalue open entries via **Adjust Exchange Rates** **Read / complete** * [Set up currencies and exchange rates (Microsoft Learn)](https://docs.microsoft.com/en-us/learn/modules/currencies-exchange-rates-dynamics-365-business-central/) (Est. 30mins) * [Process sales and purchase transactions in foreign currency (Microsoft Learn)](https://docs.microsoft.com/en-us/learn/modules/process-foreign-currency-payments-dynamics-365-business-central/) (Est. 40mins) * [Adjust exchange rates (Microsoft Learn)](https://docs.microsoft.com/en-us/learn/modules/adjust-exchange-rates-dynamics-365-business-central/) (Est. 40mins) {% hint style="warning" %} Do not set your base currency as a foreign currency. Base currency transactions always use a blank **Currency Code**. {% endhint %} {% hint style="info" %} We would suggest that you set up your exchange rates as either: * `Exchange Rate Amount` = the rate, e.g. 1.12 * `Relational Exch. Rate Amount` = 1.0 * `Fix Exchange Rate Amount` = Relational OR * `Exchange Rate Amount` = 1.0 * `Relational Exch. Rate Amount` = the rate, e.g. 0.815 * `Fix Exchange Rate Amount` = Currency {% endhint %} ### VAT VAT setup is preconfigured in Bevica Select. It includes a VAT Business Posting Group of OOS (out of scope) which duty free sales and purchase transactions are switched to. You mainly need to understand how it behaves on documents and journals. **Read / complete** * [Set up VAT (Microsoft Learn)](https://docs.microsoft.com/en-us/learn/modules/set-up-vat-dynamics-365-business-central/) (Est. 1hr) *(for context)* * [Process VAT in documents and journals (Microsoft Learn)](https://docs.microsoft.com/en-us/learn/modules/process-vat-dynamics-365-business-central/) (Est. 40mins) * [Calculate and Post VAT Settlement (Microsoft Learn)](https://docs.microsoft.com/en-us/learn/modules/settlements-dynamics-365-business-central/) (Est. 20mins) * [Process a VAT Return](/bevica-select/faqs/process-a-vat-return.md) *(UK / MTD)*
VAT Dates It is possible to control the allowable VAT dates within Bevica. See [VAT Dates](https://learn.microsoft.com/en-gb/dynamics365/business-central/finance-setup-vat#set-up-a-default-vat-date-for-documents-and-journals) for further information. Note that this is the preconfigured setup in Bevica, but it can be amended as required: * `VAT Date Usage` = Enabled * `Default VAT Date` = Posting Date * `Control VAT Period` = Block posting within closed and warn for released period
UK: Making Tax Digital (MTD) setup checklist * **VAT Reports Setup** page: **Enable** Making Tax Digital * **VAT Report Setup** page: check **User IP Address Service** * **Service Connections**: set up **HMRC VAT Setup** * Run **Retrieve VAT Return Periods** to validate the connection See [Set up Making Tax Digital for VAT](https://learn.microsoft.com/en-us/dynamics365/business-central/localfunctionality/unitedkingdom/making-tax-digital-submit-vat-return#set-up-making-tax-digital-for-vat) for further information.
{% hint style="info" %} Within Bevica: * `Allow VAT Difference` is switched on in Purchase & Payables Setup, but not Sales & Receivables Setup. * `Allow VAT Difference` is switched on for the VAT General Journal batch. * The `Max. VAT Difference` allowed is set to 10p. You can change this in General Ledger Setup. {% endhint %} ### Posting groups Posting groups map customers, vendors, items, and bank accounts into the GL. The posting groups have been set up for you as part of Bevica Select. The module is for information only to understand this area. **Read / complete** * [Set up posting groups (Microsoft Learn)](https://docs.microsoft.com/en-us/learn/modules/posting-groups-dynamics-365-business-central/) (Est. 1hr) ### Additional charges and inventory postings (finance context) Setting up and using additional charges and are mainly learned in the operations modules. Finance users should still understand the posting impact. **Read / complete** * [Bevica Inventory Postings](/documentation/guides/items-and-inventory/bevica_inventory_postings.md) *(posting model + additional charges)* * [Document Additional Charges](/documentation/guides/distribution_costs_management/document_additional_charges.md) * [Posted Additional Charges Reconciliation](/documentation/guides/distribution_costs_management/posted_additional_charge_entries_reconciliation.md)
Posting notes: duty, purchase charges, and sales charges From a finance point of view, there are three types of additional charge posting: 1. **Duty** (duty free → duty paid moves) 2. Purchase-side additional charges (landed cost accruals) 3. Sales-side additional charges (non-inventoriable accruals) Duty posting (example): * CR duty account (configured as 5610 in Bevica Select) * DR stock account (increase stock value) * Bevica also creates **Duty Ledger Entries** for audit and reconciliation Purchase-side additional charges (example): * DR stock * CR item charge accrual (configured to 5620 in Bevica Select) Sales-side additional charges (example): * CR sales accrual (configured to 5630 in Bevica Select) * DR COS (configured to 7410 in Bevica Select)
### Data migration (if you’re implementing) You’ll typically import or post: * [Opening trial balance](/bevica-select/opening-balances-inventory/bevica_select_-_trial_balance_opening_balances_template.md) ### Next steps * Validate your learning with [Outcomes - General Ledger Part 1](/bevica-select/bevica-select-outcomes/bevica_select_training_outcomes_-_general_ledger_part_1.md) * Continue to [Purchase Ledger](/bevica-select/bevica_select_training/bevica_select_training_-_purchase_ledger.md) --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://kb.bevica.com/bevica-select/bevica_select_training/bevica_select_training_-_general_ledger_part_1.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.