A sales price or an invoice amount is easy to track and report on.  Once a sales transaction is done the total amount is the total sale.  That’s it.  But when we look at the cost of that sale in order to arrive to a profit the equation becomes a lot more fuzzy.

If we do not keep our eye on the profit, then there is not much need for a sophisticated ERP.  So let’s dive a little bit into one aspect of costing as it pertains to NAV.

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We recently had a discussion with one of our customers regarding foreign currency.  The customer has a bank account in US dollars (USD) but has a few customers that they invoice in Canadian Dollars (CAD).  They in turn get payments in Canadian Dollars that they deposit straight into their USD account. Read the rest of this entry »