The typical features of a Cloud End-to-End Business Solution system are:
Essential and Premium
Microsoft Dynamics 365 Business Central is available at two price points: Essentials and Premium.
Essential licensing covers business areas that most businesses require running their business. It includes the following modules:
Premium licensing adds Service order management and Manufacturing, bringing the full breadth of a business solution to the cloud.
Office 365 Integration to Microsoft Dynamics 365 Business Central
Office 365 and Business Central — are at the core of Microsoft’s digital transformation strategy. With this integration, Microsoft has addressed three of the above objectives. They’ve optimised operations, empowered employees with better productivity and insight, and engaged customers faster and more accurately. This integration is truly a game changer.
With a familiar Microsoft Office 365 user interface, personalised feeds, and smart notifications, the web client enables users to work smarter and more productive. The Microsoft Dynamics 365 Business Central web client is role based and includes all functionality a user need. It does not require any installation. Users can access Microsoft Dynamics 365 Business Central through the web client with common browsers like Microsoft Edge.
Microsoft Dynamics 365 Business Central Finance enables you to manage all common finance processes and information such as posting financial transactions, preparing financial statements, managing bank accounts, inventory costs, manufacturing costs, and fixed assets.
When you create a new company, you must first set up a chart of accounts and configure the posting processes.
The chart of accounts is a list of all the accounts you can use to post transactions to the general ledger. It contains balance sheet accounts and income statement accounts. Besides the basic setup, you can also set up advanced features related to VAT or tax processing. Once G/L accounts are created, you can then use them in sales and purchase documents, in general journals to post transactions to the general ledger. You can set up and use dimensions to add text to entries for reporting purposes.
In Microsoft Dynamics 365 Business Central, you can make use of dimensions for advanced transaction analyses.
You can set up dimensions and then assign multiple dimension values to each dimension. Once dimensions are set up, you can assign default dimensions to customers, items, vendors, G/L accounts, jobs, resources and many more.
Examples: Before posting sales, you can assign a customer group dimension to a sales document. Or you can assign a department when posting expenses so that you can analyze and compare your expenses by department.
Microsoft Dynamics 365 Business Central makes processing payments easy. From the payment registration page, you can process customer payments with only a few clicks and mark invoices as paid to automatically reconcile accounts.
To pay your suppliers, you can use the payment journal, including advanced features such as vendor priorities and paying invoices on their due dates. To do so, you can run the suggest vendor payments batch, modify the payment journal lines if necessary, and then process the payments electronically or by check.
With the payment reconciliation journal, you process and reconcile bank statement transactions in one go. Use the import function to import bank statement files and let the system apply transactions automatically using advanced application rules.
To get a better grip on their cash position, companies want to know how their cash flow will evolve in time. The cash flow forecast function uses a whole range of sources to calculate the future cash flow to receivables, payables, purchase orders and sales orders.
You can use manual revenues and expenses to analyse the impact of a future loan or an unforeseen future cost. By including Cortana Intelligence, machine learning is used to calculate the cash flow forecast based on historical income and disbursements.
You can work with budgets for general ledger accounts, costs, sales and purchases.
You can set up deferral templates that automate the process of deferring revenues and expenses over a predefined schedule.
You can keep track of fixed assets and related transactions, such as acquisitions, depreciation's, write-downs, appreciations, and disposals.
Microsoft Dynamics 365 Business Central automatically assigns audit trails and posting descriptions to every transaction. In addition, users can define reason codes to create complementary audit trails.
Create, operate, and manage multiple bank accounts to cater to your diverse business needs and across different currencies.
Reconcile your bank statement data automatically to open bank account ledger entries and keep track of all your bank statements.
Manage multiple currencies throughout the system, including payable's and receivables, general ledger reports, resource and inventory items, and bank accounts.
Thank you for reviewing this article on Microsoft Business Central with a focus on Microsoft Business Central Finance this blog will be updated to reflect further information links as we explore more modules and capability for Microsoft Dynamics 365 Business Central namely:
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