Been wanting to record a video on this for a while.
Account Schedules remains one of the most powerful, but least used tools in Dynamics 365 Business Central (or Dynamics NAV).
Coming from other smaller accounting software where the income statement and balance sheet is predefined, Business Central does require a little bit of setup.
The Predefined Account Schedules
The out-of-the-box account schedules are not really useful in that it utilizes the predefined G/L accounts from their database. The problem is that the majority of people that are implementing Dynamics 365 Business Central would’ve already have an existing Chart of Accounts that they want to use.
Instead of spending time to make the existing Account Schedules fit their chart of accounts, it’s much easier to just create new ones to your liking.
Here’s a quick 4 minute video where I try to address the quickest and the easiest way to create a balance sheet and income statement.