Set up the General FastTab
The General FastTab contains the basic setup defaults. To display all fields, select Show more. You can read a short description by selecting the field name.
The most-used fields on the General FastTab are:
Allow Posting From/Allow Posting To - These fields specify a date range that all users can post transactions in. Because a specific accounting period can’t be closed in Business Central, setting the posting date range prevents users from posting entries outside that date range. Other than specifying these dates in the general ledger setup, you can also assign them to users on the User Setup page.
Local Address Format - Specifies the format in which addresses must appear on printouts. For example, City+State+ZIP Code. Besides the local address format, you can specify the address format for each country on the Countries/Regions page. When you select the Require Country/Region Code in Address field on general ledger setup, the ZIP Code, City, and State fields will change when the value in the Country/Region Code field is changed. This provides users more control over address information.
Local currency settings - On the General FastTab, you can specify the company's local currency and related settings:
LCY Code - Specifies the local currency (LCY) that the company works with.
Inv. Rounding Precision - Specifies the size of the interval to be used when you're rounding invoice amounts in LCY. On the Currencies page, you can specify how to round invoices in foreign currencies.
Inv. Rounding Type - Specifies how to round invoice amounts. The contents of this field determine whether the invoice amount to be rounded will be rounded up or down to the nearest interval as specified in the Invoice Rounding Precision field. If you select Nearest, digits that are higher than or equal to five will be rounded up, and digits that are lower than or equal to five will be rounded down.
Amount Rounding Precision - Specifies the size of the interval to be used when you're rounding amounts in LCY. On the Currencies page, you can specify how amounts in foreign currencies are rounded.
Amount Decimal Places - Specifies the number of decimal places to show for amounts in LCY. This field covers amounts that are created with all types of transactions and is useful in helping you avoid inconsistencies when you're viewing or summing different amounts. The default setting is 2:2, which specifies that all amounts in LCY will show with a minimum of two decimal places and a maximum of two decimal places. You can also enter a fixed number, such as 2, which also means that amounts will show with two decimals. On the Currencies page, you can specify how many decimal places to show for amounts in foreign currencies.
Unit-Amount Rounding Precision - Specifies the size of the interval to be used when you're rounding unit amounts, items, or resource prices for each unit in LCY. Examples of unit-amounts are item prices and resource prices. On the Currencies page, you can specify how unit amounts in foreign currencies are rounded.
Unit-Amount Decimal Places - Specifies the number of decimal places to show for unit amounts, items, or resource prices for each unit in LCY. On the Currencies page, you can specify how many decimal places to show for unit amounts in foreign currencies.
Local Currency Symbol - Specifies the symbol for the local currency that you want to appear on checks and charts, such as the dollar ($) symbol for US dollars (USD).
Local Currency Description - Specifies the description of the local currency.
Tax/VAT Rounding Type - Specifies how the program will round tax/VAT when it's calculated for the local currency. When you enter an amount that includes tax/VAT in a document, the system first calculates and rounds the amount excluding tax/VAT and then calculates by subtracting the tax/VAT amount because the total amount must match the amount including tax/VAT that was entered manually. In that case, the tax/VAT rounding type doesn’t apply because the amount excluding tax/VAT is already rounded by using the amount rounding precision.
Bank Account Nos. - Specifies the code for the number series that will be used to assign numbers to bank accounts.
Bank Rec. Adj. Doc. Nos. - Specifies the document number of the bank reconciliation adjustment for general ledger setup. You can select the document number from the No. Series table.
Bank Recon. with Auto. Match - Specifies the feature to use for reconciling bank accounts. If you turn on this toggle, you’ll use the Payment Reconciliation Journals page, which supports the import of bank statement files. If it’s turned off, you’ll use the Bank Rec. Worksheet page, which is better for checks and deposits.
Enable Data Check - Specifies whether Business Central validates the data you enter in documents and journals while you type. For documents, you can turn on the check and messages will be shown in the Document Check FactBox. For journals, messages are always shown in the Journal Check FactBox. You can find more information on the Enable Data Check feature in a following unit in this module.