Financial health of your business is the difference between success and survival. Hence, total control over finances is a prerequisite to make your business successful. Financial management is the core of Microsoft Dynamics 365 Business Central which allows you to perform the entire financial administration. From customer data, automatic invoicing, budgets and real-time visibility into cash flow, to general ledger chart of accounts and online banking… Always insight into your financial situation!
Functionality in Dynamics 365 Business Central Finance
All your financial processes are available in Microsoft Dynamics 365 Business Central:
Purchase invoice approval workflow and booking, automatic payments (SEPA) and settlement of overdue items, colourful analyses and adjustable blocks.
Invoices, receipts, reminders, clearing of posts.
Financial transactions / Accounting
Extensive options to capture booking settings for domestic and foreign tax rates, pushed, entrepot, discounts, purchasing- and payment differences, valuation, etc. So, all transactions fill the ledger smooth and correctly.
Create accounts – quick and easy – in Dynamics 365 Business Central.
Manage bank accounts
Create, use and manage multiple accounts in different currencies, import payment runs and bank statements (MT940 / SEPA CAMT), including automatic clearence of open items.
All your logistics services linked to a (entrepot) booking course. So, cost centres and other dimensions are controlled and your ledger account confined.
Manage fixed assets
Control fixed assets, including maintenance and insurance items. Add your assets together or split them up. Standard booking courses such as revaluations and disposals.
Automatic currency service
Currency rates can be read automatically in Dynamics so that you always work with the latest currency rate.
A preview of the ledger mutations that will take place when booking for example invoices, prevents errors and exposes a possible incorrect setting in customer, supplier or booking group.
VAT/ ICP declaration
VAT and ICP declaration via a secured XBRL (extensible Business Reporting Language).
Cash and Cost accounting
Keep insight in your logistics costs, make simple cash flow forecasts and use default KPI charts.
Period / postponement templates
Assign costs and revenues automatically to the load- or delivery date in the corresponding accounting period (period / month / year) instead of the period in which the transaction is booked.
Use one solution to manage the accounts of multiple companies. Manage your accounts receivable, accounts payable, general ledger accounts and accounting settings from the parent company or via “central data management”.
Set profit centres and / or cost centres.
Add additional dimensions to the general ledger and other journals in Microsoft Dynamics 365 Business Central for more flexibility in analysis.
Localizations and translations
Companies doing business abroad must comply to local laws and regulations. Dynamics 365 Business Central Finance is standard available in more than 42 countries and many languages. So, you have access to the software no matter where you are.
Purchase invoice recognition with
Scan and send the purchase invoice to Dynamics NAV, where the data is captured and recorded by Document Capture. The PDF of the invoice is stored in Dynamics 365 Business Central.
Incoming invoices are interpreted by using OCR recognition (Optical Character Recognition): sender, description, barcode and order numbers are accurately detected and the data is recorded in the appropriate fields in Dynamics 365 Business Central.
Match and approve purchase invoices
Invoices can easily be linked to the associated purchase order. Subsequently, those who approve invoices receive an email with a copy of the invoice. Once they have approved the invoice, it is released for accounting and payment. The approval process is performed directly in Microsoft Dynamics 365 Business Central.
The advantages of OCR
- Digitize your document flow
- Automate steps for processing and reduce the number of administrative actions
- Decrease the costs of processing and time investment per document
- Reduce the amount of errors
- Guarantee a safe and compliant process