Microsoft’s continued commitment and development of Enterprise Resource Planning Systems (ERP) has resulted in the release of Microsoft Dynamics NAV 2017. Dynamics NAV is a robust business solution from Microsoft that continues to be enhanced which is quick to implement, easy to use and has the power to support your business ambitions. Key for Dynamics NAV 2017 is integration and simplicity. This latest ERP solution offers significant enhancements to the core application including new Financial Management Enhancements:
Financial Management Enhancements:
Account Schedules: The new default Account Schedules means that no set up is required, making it quick and intuitive to produce the financial reports that you need, and “point-in-time” reporting means you can view the financial state of your business for any given time.
Account Categories: Reporting is also made easier with the new Account Categories that provide structure to your chart of accounts. You can use Account Categories to map your chart of accounts to a set of predefined categories. Easy to use and easy to understand, account categories support financial and in addition you can create categories to fit your business needs. Lastly, you can automatically update Account Schedules when you update your Account Category mapping.
Payment Reconciliation Journal: You can reconcile your bank payments in the Payment Reconciliation Journal, completing payments and reconciliation in one place and in one step. This feature gives you the ability to match customer payments, vendor payments, and bank transactions all in the Payment Reconciliation journal. You can also filter the statement information to view only the transactions that need attention, hiding those that do not.
Furthermore, you can see a summary of outstanding bank information and drill-down to see the detail in payment reconciliation. To verify before posting the reconciliation, you can print the outstanding bank information on a test report.
Cash Flow Forecasts: You can understand your cash flow and can look ahead to predict the highs and lows in your cash balance, helping to improve margins and ensure profitability.
Easily create a basic cash flow forecasting set up, which can be extended as required, and is quick to adjust. Use a wizard to help you complete most of your tasks, and take advantage of automatic daily or weekly data updates. In addition, more data sources are supported, including jobs and tax data.
Financial Reports: You can use Financial Reports to quickly view financial performance. The new default Account Schedules makes it quick and intuitive to produce the financial reports that you need, including:
- Balance Sheet
- Income Statement
- Cash Flow Statement
- Retained Earnings Statement
The new Financial Management Enhancements in Dynamics NAV 2017 allow you to work with ready-to-use financial statements and gain accessible insights into the financial performance of your business.
Learn more the Microsoft Dynamics NAV 2017 Features