Accounting
-
Inventory value in foreign prepayment scenarios
I have this client who operates in very specific conditions: majority of their vendors are foreign companies which invoice them in a foreign currency (USD) and…
-
Not-so-elementary costing: The Change
They say the only constant is change. I’d say that the only other constant is error. We humans tend to err. Give a repeatable task to a human, and they’ll mess…
-
Purchasing Services: Inventory Value Zero
I’ve stumbled recently upon a support request, where a partner asked if there was a possibility to register purchases of services in Microsoft Dynamics NAV.…
-
Elementary costing 3: FIFO, LIFO, UFO…
Due to fluctuations in market prices, purchase cost of goods may vary from one purchase to another. Also, you rarely just purchase goods and immediately sell…
-
Elementary costing 2: Know your costs
When you buy a sheep, how much is it worth to you, what is its value? For starters, its value is at least what you paid for it, but that’s not quite it. Say…
-
Elementary costing 1: Sheep and bricks
Unless you are a non-profit, the point of the business is making money. It is surprising how many different ways of making money there are out there, but if…
-
Accounting vs. ERP: The saga continues
Running a business using only accounting data can be pretty much the same as driving a car using rear-view mirror only. The purpose of accounting is to provide…
-
Accounting vs. ERP: Sticks and carrots
When referring to their ERP systems, it is pretty common that customers refer to it as accounting software. While it is true that every ERP system embeds some…