Automation is the future. You must have heard this phrase several times but here’s the part where we tell you that automation is not just a future phenomenon anymore, it is here, right now and it will only become bigger and better in the coming years.
D365 Business Central is the newest brainchild of Microsoft that utilizes the power of automation to provide an all-in-one business suite that brings together all your disparate business processes and helps you work faster and smarter. Since it’s built on the functionality within Microsoft Dynamics NAV and adaptable to extend business applications to other Microsoft Cloud services such as Office 365, Microsoft Flow, Power BI and PowerApps, Microsoft Dynamics 365 Business Central can grow alongside your company’s changing business requirements.
One of the many functionalities of Microsoft Dynamics 365 Business Central is hassle-free financial management. It brings an array of financial management functionalities to the table that will help you handle your financial matters with ease and without having to depend on your finance team for every little detail.
Microsoft Dynamics 365 Business Central Financial Management capabilities
D365 Business Central comes with a standard configuration of most financial processes, but you can change the configuration to suit your business. Here are a few Financial Management capabilities available in D365 Business Central:
- Bank account management
- Bank account reconciliation
- Basic XBRL
- Account schedules
- Consolidation
- Cost accounting
- Cash flow forecast
- Change log
- Check writing
- Insurance
- Inter-company postings
- Maintenance
- Multiple currencies
- Payment handling and so much more
Make informed decisions with an end-to-end view of your business
Connect your data across accounting, sales, purchasing, inventory and customer interactions with D365 Business Central to get a holistic view of your business and make smart business decisions. Additionally, chart and measure your financial performance in real time via built-in Power BI dashboards.
Manage your receivables better and close and report on financials quickly
In D365 Business Central, one of the quickest ways to register payments from the Payment Reconciliation Journal window by importing a bank statement file or feed. Other aspects of managing receivables include to collect outstanding balances, including finance charges and reminders, and to set bank accounts up to allow customers’ payments to be withdrawn from their account automatically. These automatic processes help you close and report on financials quickly and accurately while maintaining compliance.
Optimize your financial forecasts
D365 Business Central gives you the option to refine financial forecasts by modeling and analyzing data across multiple dimensions while customizing reports using seamless Microsoft Excel integration. The charts on the Accountant Role Center gives you valuable insights that can help you make solid decisions about what to do with your cash. If you wish to scrutinize the forecast, in addition to forecasting entries, the solution also allows you to look at the cash flow worksheet. For example, you can see how the forecast:
- Handles confirmed sales and purchases
- Subtracts payables and adds receivables
- Skips duplicate sales orders and purchase orders
Want to know more about Microsoft Dynamics 365 Business Central and its capabilities, talk to an expert at Isys Solutions and find out what it can do for your business.
