Microsoft Dynamics NAV “Navision” ERP system is a robust Business Management System used by over 80,000 customers worldwide. Below are some functionality examples within the system which is available in 2 versions; Business Essentials and Advanced Management. This could be a great accounting software for your small to medium sized wholesale distribution or even manufacturing company!
Arrange financial reports based on the figures in the chart of accounts and budgets, but using a different arrangement of financial figures, texts, or details than in the chart of accounts. Choose the accounts you want to include (or exclude), change the order of the accounts, combine figures in various ways, and set up which columns to print. In addition, you can make simple calculations.
Allocate general ledger entries to combinations of accounts, departments, and projects using allocation keys based on amount, percentage, or quantity.
Basic General Ledger (Includes 1 User )
This granule includes all the basic functionality necessary for setting up a company and posting to the general ledger, chart of accounts, general journals, VAT facilities, recurring journals, and source codes. Also includes:
• Facilities for internal and external reporting.
• Approval of sales and purchase documents.
• Posting and reporting in your company’s base currency.
• Posting and reporting in an additional currency with the addition of the Multiple Currencies granule.
• Capability to export data from any form to Microsoft Word or Microsoft Excel® using style sheets.
• Capability to link to external documents.
• Two languages—U.S. English and one other.
• Set up sales and purchase documents archiving.
Export documents from Microsoft Dynamics NAV in XBRL (Extensible Business Reporting Language) format and import XBRL taxonomies into Microsoft Dynamics NAV from the Internet, email, or other systems. XBRL is an XML-based specification that uses accepted financial reporting standards based on standardized, underlying data tags. The granule includes:
• Capability to map your general ledger to XBRL taxonomies so that the same XBRL document instance can be used for various purposes, independent of the format required by the receiver of the document.
• Support for the XBRL 2.0 Specification released by the XBRL Consortium.
Work with budgets in general ledger accounts. After you have created a budget, you can print a balance that shows variances to the budget by percentage. Work with multiple budgets at one time. For example, work with a 100 percent budget, a 110 percent budget, and so on. Budgets are generally entered per period for the relevant general ledger accounts.
Log user changes made to Microsoft Dynamics NAV master data. You can log all direct modifications a user makes to the data in the database, except for changes to “working documents” such as journals, sales orders, and purchase orders. The change log functionality makes it possible to get a chronological list of all changes to any field in any table (except those “working documents” just mentioned) and to identify by user ID who made the changes.
Consolidate companies in Microsoft Dynamics NAV. The companies can come from one or from several different Microsoft DynamicsNAV databases or other files, and you can import and export financial information in this granule. If data used is retrieved from several Microsoft Dynamics NAV solutions, use this granule only in the parent company.
Manage accounting for more than one company in the same posting process. The companies can be in the same or in one of several different Microsoft Dynamics NAV databases. You can also send documents to partner companies. Users control the document flow through an Inbox/Outbox feature, and transactions are completed as general journal transactions or through receivables and payables, which enables the use of currencies and correct reconciliation.
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.
Basic Fixed Assets
Keep track of fixed assets such as buildings, machinery, and equipment. You can also post various fixed-asset transactions: acquisitions, depreciation, write-downs, appreciation, and disposal. For each fixed asset, you set up depreciation books in which the methods and other conditions used for calculating depreciation are defined. You can set up an unlimited number of depreciation books to satisfy legal requirements, and for tax and internal accounting purposes. This granule is well suited for international companies that need to use many depreciation methods.
Fixed Assets Allocations
Allocate different percentages of fixed asset transactions, such as acquisition cost and depreciation, to different departments or projects by using allocation keys. Useful for when several departments share a fixed asset.
Keep track of insurance coverage and annual insurance premiums for your fixed assets and easily determine whether your assets are under-insured or over-insured. You can attach each asset to one or more insurance policies and also index insurance amounts.
Record maintenance and service expenses for each fixed asset. Get the detailed information you need to analyze and make decisions about the renewal and disposal of fixed assets. This granule integrates with General Ledger.
*Only available a la carte for the Advanced Management version.
Reclassify a fixed asset or part of a fixed asset—for example, from one department to another. You can split one fixed asset into several fixed assets, or combine several fixed assets into one fixed asset. When you need to dispose of one part of a fixed asset, you can split it into two assets and then dispose of the appropriate one.
Bank Account Management
Manage an unlimited number of bank accounts in both local and foreign currencies.
Reconcile your bank accounts in Microsoft Dynamics NAV with your statements. Apply amounts from your bank account ledger to the reconciliation form and keep track of all bank statements.
Generate printed checks with unique number series for each bank account. You can also void or reprint an already printed check, and specify on the journal line whether you want this payment to be made with a computer or a manual check.