When choosing your next or even upgrading your existing ERP system, there are normally key “must have” business management system requirements. When we discuss ERP Evaluations, one of the more popular systems is Microsoft Dynamics 365 Business Central, formerly Microsoft Dynamics NAV “Navision”. Microsoft Business Central is a true Enterprise Resource Planning System with vast business functionality around advanced financial, inventory/supply chain management, sales/CRM, project management, service management, warehousing, manufacturing, and more! In reference to Financial Management Features, this post will highlight ERP Functionality with Cash Management in Microsoft Business Central.
In Microsoft Dynamics 365 Business Central, you can keep track of numerous financial management capabilities; everything from Multiple Currencies, Fixed Assets, Cash Flow Forecasts, Budgets, Check Writing and Much More. The Cash Management Features in Microsoft Business Central is a broad set of ERP capabilities to manage your company’s financials listed below:
Bank Account Management: Create, operate, and manage multiple bank accounts to cater to diverse business needs and across different currencies.
Electronic Payments and Direct Debits: Create payment proposals based on vendor documents and generate bank payment files in ISO20022/SEPA format or use the AMC Banking Service to generate electronic payment files in the format your banks require. Create direct debit collections for a bank direct debit file in the ISO20022/SEPA format.
Easy Payment Process for your customers: Give customers an efficient way to submit payments by adding links to online payment services to invoices in the online version of Business Central. Use the PayPal extension for access to a trustworthy global payment service that offers multiple ways to accept payments, including credit card processing and PayPal accounts.
Reconciliation of Incoming and Outgoing Bank Transactions: Import bank transaction data from electronic files sent from your bank in ISO20022/SEPA format or other file types. Apply transactions automatically to open customer and vendor ledger entries and create your own matching rules. Review proposed applications and account matches. Change the algorithm behind the record matching by modifying, removing, or adding rules. Reconcile bank payments from the Payment Reconciliation Journal in one step, and in one place.
Check Writing: Print checks as automated electronic checks or write them manually, both with flexible options for voiding, and reprinting, using check forms with preprinted stubs, and testing before printing. Consolidate payments to a vendor in a single check.
Your organizations can streamline their financials with Cash Management in Microsoft Business Central along with other financial management features included in this powerful Business Management/ERP System. Importantly to also mention; Microsoft Dynamics 365 Business Central is built to integrate with other popular cloud business productivity tools such as Outlook, Power BI, CRM, Office. and 365/Microsoft 365. Furthermore, Microsoft AppSource is a growing business application (Apps) resource to add specific functionality to your Business Central system. Microsoft Dynamics 365 Business Central is a highly customizable ERP solution that can integrate with other common and specific business application that allows your company to scale as your business grows to meet demands.
Learn more about Microsoft Dynamics 365 Business Central
Download the Microsoft Dynamics 365 Business Central Capabilities Guide
Posted by iCepts Technology Group, Inc. a Microsoft Business Central ERP Partner in Pennsylvania