Create more efficient processes within your business and accelerate growth with Microsoft Dynamics 365 Finance and Operations Enterprise Edition, featuring robust reporting and analytics and a raft of features that will enable you to make smarter decisions and grow at your pace.
Decrease time-to-value and facilitate confident decisions using roll-based workspaces, adapt to changing business requirements by tailoring chart of accounts and dimensions, provide checks and balances using process automation budget planning, budget control and three-way matching.
You can enter vendor invoices manually or receive them electronically through a data entity. After the invoices are entered or received, review and approve the invoices by using an invoice approval journal or the Vendor invoice page. Use invoice matching, vendor invoice policies, and workflow to automate the review process so that invoices that meet certain criteria are automatically approved, and the remaining invoices are flagged for review by an authorised user.
Create customer invoices that are based on sales orders or packing slips, or enter free-text invoices that are not related to sales orders. You can receive payments by using several different payment types such as bills of exchange, cash, cheques, credit cards, and electronic payments.
If your organisation includes multiple legal entities, centralised payments can be used to record payments in a single legal entity on behalf of the other legal entities.
Cash and bank management can be used to maintain the legal entity’s bank accounts and the financial instruments that are associated with those bank accounts. These instruments include deposit slips, cheques, bills of exchange, and promissory notes. You can also reconcile bank statements and print bank data on standard reports.
Collect data from various sources, such as the general ledger, sub-ledgers, budgets, and statistical information which can then be analysed, summarised and evaluated, so that management can make the best possible decisions for price updates, budgets, cost control, and so on. The source data that is used for cost analysis is treated independently in Cost accounting.
Set up and enter acquisition information for fixed assets, and then manage them by setting a capitalisation threshold to determine depreciation. You can calculate adjustments to the fixed assets, and also dispose of them. View the current value of all fixed assets by using the General ledger together with Fixed assets.
The Fixed assets functionality incorporates many international and regional standards and rules. The way in which fixed assets are handled must correspond to both international accounting standards and the accounting legislation in each country/region. Requirements might include rules for recording acquisition and disposal transactions, depreciation, lifetimes, and write-ups and write-downs of fixed assets.
You can allocate or distribute monetary amounts to one or more accounts or account and dimension combinations based on allocation rules. There are two types of allocations: fixed and variable. You can also settle transactions between ledger accounts and revalue currency amounts.
At the end of a fiscal year, you must generate closing transactions and prepare your accounts for the next fiscal year. You can use the consolidation functionality to combine the financial results for several subsidiary legal entities into results for a single, consolidated organisation. The subsidiaries can be in the same Microsoft Dynamics 365 for Finance and Operations database or in separate databases.
In Finance and Operations, users can create budget plans either directly in the Finance and Operations client (by using a configurable budget plan document page) or through Excel. Excel provides several additional capabilities.
For example, you can use external data as a source for a budget plan, perform custom calculations, and use Microsoft PivotTable and charts. Most of the variables in the budget planning process can be configured.
If you would like to make your accounting processes more efficient and help transform the performance of your business and accounts tasks, talk to etaCsolutions today about Dynamics 365 for Finance and Operations Enterprise Edition.
Lynn Wellings MAAT
Senior Dynamics Consultant
etac Solutions are long established suppliers of Microsoft Dynamics NAV and now provide Microsoft Dynamics 365 Business Central as part of our ERP services. We pride ourselves in taking a different approach in order to craft the most appropriate solutions for our customers. We are a technology partner who can integrate, implement and then support your ERP solution at every step.