Financial Management in Microsoft Business Central: The right information, to the right people, at the right time!

At the core of a business management software functionality, financial management gives business users the power to make informed decisions, improve their close and reporting capabilities, increase forecast accuracy, and much more.

See the Big Picture: Financial Management in Microsoft Dynamics 365 Business Central delivers the right information to the right people at the right time. Whether it’s by providing at a glance information from the home screen, automatically connecting data with other modules and applications, or giving you new ways to slice and dice data using business intelligence, Financial Management lets you see the whole picture.

Make Smarter Decisions: Take your data further. Break down silos and centralize data from finance, sales, service and operations to get an accurate, end-to-end view of your business. Go even further by using real-time updates that help you spot trends or problem areas before they become major issues.

Work Faster: Streamline accounts receivables and payables, and automatically reconcile accounts to close and report on financials quickly and accurately, while maintaining compliance. Boost efficiency with automated tasks and workflows—all from within familiar Office tools like Outlook, Word, and Excel. With a unified solution, get an end-to-end view of your business, with built-in intelligence when and where you need it.

Improve forecast accuracy: Refine financial forecasts by modelling and analysing data across multiple dimensions. Customize reports using seamless Microsoft Excel integration.

Extend Your Financials: With a wide range of third-party integrations built into the Business Central Financial Management module and many more available from an extensive network of ISVs, you can operate your business on your terms.

What financial actions you can perform in Microsoft Dynamics 365 Business Central?

  1. Sales invoices (or credits) can be raised against the General Ledger to invoice customers for non-stock activities such as commission, expenses and other miscellaneous items.
  2. Similarly, purchase invoices can be entered directly for non-stock activities (expenses, utility bills, phones, etc). The non-stock process can also be started as a non-stock Purchase Order, which is later matched with the purchase invoice.
  3. Purchase invoice lines can be spread over multiple cost centres and can be posted to prepayment accounts for release over future periods. Both cost centre spreading and future period releases can be set up as templates.
  4. Costing of goods is automatically worked through to the finance system by valuing stock purchases at the time of receipt where it is first accrued as goods received not invoiced before being finalised on invoicing.
  5. The cost of goods sold is automatically released on posting a sales shipment and costing methods of FIFO, LIFO, Standard and Average are available depending on the business preference.
  6. The G/L provides the obvious general journal feature, which in Dynamics 365 Business Central can journal between any sub ledger – e.g. between sales ledger, purchase ledgers, G/L, cash book or fixed asset ledger.
  7. Journals can be saved as templates for repeated use and recurring journals take care of the monthly accruals and prepayment activities (including reconciliation).
  8. Information is posted into the general ledger automatically whenever a transaction with a financial impact is recorded e.g. where stock is bought or sold, or adjusted on/off, money is paid in or out, or a miscellaneous invoice is entered either on the sales or purchase ledger. In parallel, the system is also posting any relevant VAT in a VAT sub ledger for later reporting.
  9. The G/L account structure allows for a nominal account to be supported by unlimited dimensions to sub analyse the business. Typical dimensions might be Cost Centre, Project, Employee, Sales Channel, Product Type.
  10. The G/L is supported by a feature-rich Cash Forecasting module that takes its source information from the sales and purchase details held in Dynamics 365 Business Central.
  11. All this information can be analysed using the integrated Jet Reports tool built into Microsoft Excel. Jet is fully aware of the Dynamics 365 Business Central structures and makes analysing any information (especially the financial information) very easy.
  12. The fixed asset module provides for multiple depreciation books each with selected depreciation methods. The assets can be tracked (located) by barcoding the products and a handheld application can be used to update the location and condition of an asset.
  13. Dynamics 365 Business Central supports full multi-currency, including automated revaluation and the recording of realised and unrealised gains/losses, as well as multi-company operation with automated inter-company transactions and consolidation!