Finance and accounting

Your business has grown
from the accounting program?

Welcome! I’ll tell you how Microsoft Dynamics 365 Business Central revolutionized my accounting.

Business Command Center

The increasing complexity of the processes taking place in the company, as well as the changing legal environment meant that traditional accounting software ceased to work. And yet financial and accounting management must be based on reliable and up-to-date data! In the 21st century, most of my work still involved entering data from documents manually into subsequent accounting and HR systems. I was strongly limited by the lack of integration with other areas in the company, and thus the lack of access to up-to-date and correct information.

From the consultants responsible for the implementation of the ERP system, I learned that after proper design of the processes, over 90% of accounting operations are automatic.

Despite the initial skepticism, it turned out that in my company we managed to achieve a similar result without major organizational changes. The system is currently responsible not only for automatic accounting, but also handles cash flows, thanks to the integration with electronic banking, and automatically generates and sends e-invoices or requests for payment.

Microsoft Dynamics 365 Business Central offers a range of features that are particularly beneficial in the area of finance and accounting. The most important ones include:

General Ledger Management: Business Central allows for easy creation, management, and monitoring of general ledger accounts. Users can quickly view account balances, generate reports, and track spending patterns, facilitating more informed financial decision-making.
Automation of Accounting Processes: The system automates many routine tasks, such as invoicing, payment posting, and overdue payment reminders. This significantly reduces the time required to handle these processes and minimizes the risk of errors.
Financial Reporting and Analytics: Business Central provides advanced tools for generating financial reports, such as balance sheets, profit and loss statements, and cost analyses. Real-time data access enables users to monitor the financial health of their organization more effectively.
Budget Management and Forecasting: Users can create and track budgets as well as make financial forecasts based on historical data analysis. This feature enhances planning and control over expenses and revenues.

Ease of integration, flexibility and adaptability to your business needs, as well as stability and comprehensive functionality in the financial and accounting area are the main aspects that influenced the choice of Microsoft Dynamics NAV, an integrated ERP solution.

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Finance with Microsoft Dynamics 365 Business Central

Analytical tools of the Microsoft Dynamics 365 Business Central system (previously Microsoft Dynamics NAV) allow for conducting detailed analyzes and generating reports based on data collected in all areas of the company’s activity integrated with the system. The system enables the creation of a profit and loss account, both in the calculation and comparative system, detailed records of revenues and costs, taking into account profit and cost centers, product groups or sales channels, as well as analysis of the profitability of orders and projects.

With access to a complete picture of the data generated in the company, it is possible to effectively plan and manage finances.

Curious about what else you can gain from implementing an ERP system? Contact us to schedule a free consultation! Together, we’ll analyze your company’s needs and show you how ERP can take your business to the next level.

Discover new capabilities with Microsoft Dynamics 365 Business Central

Watch a video showing how to define new document numbering in the system

Numbering series must be defined for all files and documents. You can create as many numbering series as you want. In this example, we will show you how to define a numbering series for vendors and purchase invoices. You will learn, among others also, how to define the starting date and starting number, and how to avoid exhausting the series of numbers, and how to define several numbering series for invoices depending on the currency and connect them with a relations.

Your business has grown from the accounting program?