CRONUS is the sample data company for Dynamics NAV. Several months ago, when I installed the first version and started looking at the new features, I noticed something interesting: the system-generated financial statements were out of balance! Ok, let me back up a second.
Until 2017 version, there wasn’t a utility in NAV to generate a set of financial statements. Even simple statements required more than pushing a button…not a lot more, but more. So I was excited to see that NAV finally had a feature like a lot of other mid-range software. In 2017, there was a function that created rudimentary financial statements: Balance Sheet, Statement of Income, and a Cash Flow Statement. But…and it’s a big but…the financial statements were out of balance.
By the time I realized this, I had already dinked with the Chart of Accounts, so I thought I’d done something and just left it. After all, financials are financials. Nope. They were out of balance.
I realized that the way the system was generating the statements was based on the classifications of the accounts on the Chart of Accounts (COA). That was when I noticed that the classifications on the COA were wonky in the sample data. Depreciation classified as Sales, or was it Sales classified as Depreciation.
Anyway, once you fix the wonkyness in the COA, the financial statement generator is pretty cool. It at least gives you the “vertical” dimension of some standard financials.
Be sure to fix your sample data if you’re going to take a look at this feature.