Cost Accounting

A cost statement is a function that provides information on the costs of doing business. The function enables the analysis of data such as cost types and plan of cost types, cost centers / basic data of cost accounting, cost objects and allocations.

The cost account in the Microsoft Dynamics NAV ERP system allows you to create any number of cost budgets. Budgets have a similar function to the general ledger budget, so the budget can be copied to the general ledger budget or vice versa, and the budgeted costs can be converted into real costs.

Allocations consist in assigning costs and revenues to types, centers and cost objects. The Microsoft Dynamics NAV system provides the possibility of flexible allocation definition. Each allocation consists of an allocation source and one or several allocation purposes. For example, all costs for the cost type Building (allocation source) can be allocated to the cost centers Workshop, Production and Sales (three allocation goals).