Financial Management with Microsoft Dynamics 365 Business Central

The financial management feature of the ERP soft­ware Dynamics 365 Business Central does not just include financial accounting func­tions, but also combines various aspects of finance, cost and activity ac­counting, as well as internal and external reporting.
The current data of all company areas such as purchasing, sales, ware­house and wages/salaries are merged in financial manage­ment of Microsoft Dynamics 365 Business Central (formerly Dynamics NAV). You can access the core data at the push of a button to deter­mine and analyse sources and corre­lations at any time.

Accounting & Finance

Financial accounting is the central element in Microsoft Dynamics 365 Business Central (formerly Dynamics NAV). All data regarding financial accounting are processed, evaluated and saved here. The daily processes in financial accounting (general ledger and sub-ledger) are supported effectively by various features:

  1. Make informed decisions: Connect data across accounting, sales, purchasing, inventory, and customer interactions to get an end-to-end view of your business. Chart financial performance in real time with built-in Power BI dashboards.

 

  1. Accelerate financial close and reporting: Streamline accounts receivables and payables, and automatically reconcile accounts to close and report on financials quickly and accurately, while maintaining compliance.

 

  1. Improve forecast accuracy: Refine financial forecasts by modelling and analysing data across multiple dimensions. Customize reports using seamless Microsoft Excel integration.

 

  1. Basic General Ledger: Set up a company and start posting to the general ledger, chart of accounts, general journals, VAT facilities, recurring journals, and source codes.

 

  1. Budgets: Work with budgets in general ledger accounts.

 

  1. Deferrals: Set up deferral templates that automate the process of deferring revenues and expenses over a pre-defined schedule.

 

  1. Basic fixed assets: Keep track of fixed assets and related transactions such as acquisitions, depreciations, write-downs, appreciations, and disposals.

 

  1. Basic receivables: Post sales transactions in journals and manage receivables; register customers and manage receivables using general journals.

 

  1. Dimensions: Add unlimited dimensions to any ledger for advanced transaction analyses.

 

  1. Audit trails: The system automatically assigns audit trails and posting descriptions to every transaction. In addition, users can define reason codes to create complementary audit trails.

 

  1. Bank account management: Create, operate, and manage multiple bank accounts for catering to your diverse business needs and across different currencies.

 

  1. Reconciliation: Reconcile your bank statement data automatically to open bank account ledger entries end to keep track of all your bank statements.

 

  1. Currencies: Manage multiple currencies throughout the system, including payables and receivables, general ledger reports, resource and inventory items, and bank accounts.

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