Preconfigured Excel Financial Reports in Dynamics NAV 2018

Microsoft’s continued commitment and development of Enterprise Resource Planning Systems (ERP) has resulted in the release of Microsoft Dynamics NAV 2018.  NAV 2018 is an end-to-end robust business management solution designed to help organizations achieve greater efficiency, streamline business processes, and empower employees to react quickly to changing business needs with intelligent insights-anywhere and on any device.

Microsoft Dynamics NAV 2018 Enhanced Financials, along with its core financial management features give companies a vast array of accounting and financial capabilities for small to medium sized companies. A new feature is the out-of-the-box Preconfigured Excel Financial Reports in Dynamics NAV 2018 for some of the most common  business insights into financials. These are listed below:

Balance Sheet-Open a spreadsheet that shows assets, liabilities and equity.

Income Statement-Open a spreadsheet that shows the company income and expenses.

Cash Flow Statement-Open a spreadsheet that shows the changes in balance sheet accounts and income affect the company’s cash holding.

Retained Earnings Statement-Open a spreadsheet that shows changes in retained earnings based on net income from other financial statements.

Trial Balance-Open a spreadsheet that show a summary trial balance by account.

Aged Accounts Payable-Open a spreadsheet that show a list of aged remaining balances for each period by vendor.

Aged Accounts Receivable-Open a spreadsheet that shows when customers payments are due or overdue by period.

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Microsoft Dynamics 365 Business Central Advanced Financial Management

Financial Management ERP

Microsoft’s continued commitment and development of Enterprise Resource Planning Systems (ERP) has resulted in the release Microsoft Dynamics 365 Business Central.  Business Central is a modern digital end-to-end robust business management solution designed to help organizations achieve greater efficiency, streamline business processes, and empower employees to react quickly to changing business needs with intelligent insights-anywhere and on any device.  Microsoft Dynamics 365 Business Central Advanced Financial Management, along with its core financial management features, give companies a vast array of accounting and financial capabilities for small to medium sized companies.

Advanced Financial Management in Microsoft Dynamics 365 Business Central Include:

Cost Accounting:  Cost Accounting provides an efficient way to control the company’s costs by providing visibility and insight into budgeted and actual costs of operations, departments, products, and projects. Cost Accounting synchronizes cost information with the general ledger, and then allocates that information to different costs centers and cost objects.  These elements together show you a direct cash flow forecast.

Cash Flow Forecast:  Cash Flow Forecast provides a prediction of how a company’s liquidity—cash and other treasure positions—will evolve over time. It consists of two things—cash receipts and cash disbursements—the money you expect to receive and the cash you expect to pay out—plus the liquid funds you have available.

Intercompany Postings:  Manage accounting for more than one company in the same posting process, for example, in different countries/regions, as well as multiple currencies, different charts of accounts, different dimensions, and different item numbering.

Responsibility Centers:  Set up profit centers and/or cost centers. A company can sell items with specific prices and that are related to a responsibility center. You can tie a user to a responsibility center so that only sales and purchase documents related to the particular user are displayed. Users get assistance with entering extra data, such as dimensions and location codes.

Core Financial Management Features in Microsoft Dynamics 365 Business Center include:

  • General Ledger
  • Allocations
  • Account Schedules
  • Consolidations
  • Basic XBRL
  • Change Log
  • Fixed Assets
  • Insurance
  • Maintenance
  • Reclassifications
  • Bank Account Management
  • Check Writing
  • Electronic Payment/Direct Debit (depending upon country)
  • Bank Account Reconciliation
  • Deferrals
  • Advanced Dimensions
  • Multiple Currencies
  • Unlimited Companies

Learn more about Microsoft Dynamics 365 Business Central

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Microsoft Dynamics 365 Business Central Essentials Version Functionality

Cloud ERP

 

Microsoft Dynamics 365 Business Central is an all-in-one business management solution that’s easy to use and adapt, helping you connect your business and make smarter decisions.  Built on functionality within Microsoft Dynamics NAV and adaptable to extend business applications to other Microsoft Cloud Services such as Office 365, Microsoft Flow, Power BI and PowerApps; Microsoft Dynamics 365 Business Central Solution can grow as your business requirements change while taking advantage of the latest technology.  Customers that select Microsoft Dynamics 365 Business Central Versions have a choice of either “Essentials” or “Premium”.  This post will focus on Microsoft Dynamics 365 Business Central Essentials Version Functionality.

The “Essentials” Version of Microsoft Dynamics 365 Business Central is a robust set of functionalities from Microsoft Dynamics NAV: Microsoft’s most popular ERP system.  There are over 100 unique business capabilities in the Essentials Version of Business Central.  Below are some of the highlights of each Key Business Area.

Advanced Financial Management: Cost Accounting, Inter-Company Postings, Bank Account Reconciliation, Insurance, Maintenance, Fixed Assets Allocations, Advanced Dimensions, Cash Flow Forecast.

Customer Relationship Management:  Contact Management, Outlook Client Integration, Dynamics 365 for Sales (CRM) Integration, Opportunity Management, Interaction/Document Management.

Project Management: Jobs, Time Sheet, User Tasks, Multiple Costs, Estimates.

Supply Chain Management:  Requisition Management, Item Cross References, Nonstock Items, Location Transfers, Item Substitutions, Item Categories, Stock Keeping Units, Shipping Agents,

Sales: Pricing, Discounting, Sales Tax/VAT (depending on country), Return Order Management, Invoices, Order Management.

Human Resource Management:  Basic Human Resource Management.

Warehouse Management: Automated Data Capture System (ADCS), Warehouse Management Systems, Internal Picks and Put Aways, Bin Set-Up, Warehouse Receipt, Warehouse Shipment.

Other Business Functionality: Unlimited Companies, Multiple Currencies, Extended Text, Embedded PowerBI (Business Intelligence).

Mobile ERP Technology:  Gain the same ERP powerful and rich functionality  experience  on either your Desktop, Laptop, Tablet or Smart Phone.

Learn more about Microsoft Dynamics 365 Business Central 

Download the Microsoft Dynamics 365 Business Central Licensing Guide

 

Key Benefits of WMS for Small to Medium Business

WMS for SMB

Warehouse Management Systems (WMS) are designed to make the flow of inventory in a warehouse as efficient as possible.  This is accomplished through advanced technology in the areas of warehouse operations from picking, packing to shipping. The below Key Benefit of WMS for Small to Medium business can help streamline your supply chain, and dramatically improve the proper flow of inventory in your warehouse while meeting the needs of your customers.

Increased Accuracy:  Improving accuracy, efficiency, and compliance by just 2-5% can result in increased capacity and hundreds of thousands of dollars in annual savings. This can have a dramatic impact on profitability.

Advanced Technology:  Modular design with integration-friendly architecture makes it simple to upgrade or add new modules, meaning you only pay for what you need.

Improved Stock Management Capabilities:  Most functionality is provided out-of-box, resulting in minimal customization will in turn will help reduce implementation costs.  Stock Management Functionality includes:

  • Rule-based Picking
  • Rule-based Receiving
  • ASN Receiving
  • Inbound Container Building
  • Cartonization
  • Repackaging
  • Counting
  • Cycle Counting
  • Inspection
  • Adjustments
  • Stock Locator
  • Directed Putaway
  • Replenishment

Robust Inventory Management Capabilities:  Additional Warehouse functionality revolves around advanced inventory management such as:

  • Lots/Serial Tracking
  • Expiry Management
  • Order Allocation
  • Wave Planning
  • Order Management
  • Multi-Zone
  • Multi-Location
  • Multi-Company
  • License Plates
  • Kitting
  • Returns Management
  • Order Consolidation
  • Order Entry (Sales and Receipts)
  • Dashboard Analytics and Pivot Tables
  • Reporting

Complete Operations Visibility: Complete warehouse inventory visibility with dashboard analytics, pivot tables, and 75 pre-built warehouse KPIs (e.g. monitor workforce productivity and order cycle time). In addition, a “Web-Centric” design gives you the ability to allow internal and external users visibility into the status of warehouse operations and a “role-based” user-friendly interface that can be customized by the user for specific needs.

Fast ROI:  Warehouse Management Systems users can recognize a cost-savings quickly depending upon the warehouse and scope of operations.  However, a short implementation, in as little as 90 days, means a much faster return on investment with higher profits.

Learn more about the Benefits of Warehouse Management Systems