Microsoft Dynamics 365 Business Central Capability for SMB

Blog Series I: Financial Management (Part B)

Essentials of Microsoft Dynamics 365 Business Central Financial Management Functionalities

Accounts Schedules

Use account schedules as a powerful financial reporting tool. Accountants and Controllers can include essential business data from the chart of accounts, budgets, cash flow accounts and cost types in financial reports.  Use the data to efficiently monitor the health of the business and provide valuable input for business decision makers.  Define row and column layouts and combinations to generate the report you need.  Calculate totals and sub-totals and control the print output, for example, to compare current and historical budget figures.

 

Consolidation

Consolidate companies from the same Business Central tenant and pull data directly into the consolidation company or use XML files to pull data from other Business Central tenants, databases, or third-party business management application.  Use multiple currencies, dimensions, and budgets for the consolidation.

Intercompany Postings

Manage accounting for more than one company in a posting process that includes one or more Business Central tenants or databases. Send sales and purchase documents to partner companies and post journals transactions through a mapping to shared charts of accounts and dimensions. Control the document flow through an Inbox/Outbox feature that automates sending and receiving. Use sales and purchase documents with multiple currencies to reconcile intercompany balances.

Cash Flow Forecast

Predict how your company’s liquidity will evolve over time. Forecast expected cash receipts and disbursements plus available funds.  Create basic cash flow forecast set ups that you can extend and adjust.  Use an assisted setup guide for completing tasks and taking advantage of automatic daily or weekly data updates.  Include data from jobs and taxes as sources for the cash flow forecast.  Use Azure ML capabilities to let Business Central generate cashflow predictions.

Fixed Assets

Track fixed assets such as buildings, machinery, and equipment. Post fixed asset transactions such as acquisitions, depreciation, write-downs, appreciation, and disposal. Assign one or more depreciation books to define methods and conditions for calculating depreciation. Use depreciation books to meet managerial, internal accounting, and legal reporting requirements. Register maintenance costs, insurance coverage, and cost allocations for assets.

  • Fixed Assets Allocations

Use allocation keys to distribute percentages of fixed asset transactions, such as acquisition cost and depreciation, to departments or projects.

  • Fixed Assets – Insurance

Track insurance coverage and annual insurance premiums for fixed assets and easily determine whether they are under- or over-insured. Attach assets to one or more insurance policies and index insurance amounts.

  • Fixed Assets – Maintenance

Record maintenance and service expenses for fixed assets. Get detailed information to analyze and make decisions about fixed asset renewal and disposal.

Cost Accounting

Get insight into costs through the visibility of actual and budgeted costs of operations, departments, products, and projects. Combine base data in general ledger transactions with dimensions with known future costs and define a hierarchy of cost centers and cost objects. Allocate costs using allocation runs with different allocation keys and methods. Analyze general ledger actuals and budgets in user-defined scenarios. Explore the scenarios to gain insight into the business that is not immediately reflected in your chart of accounts.

Deferrals

Set up deferral templates that automate the process of deferring revenues and expenses based on a schedule. Recognize revenues and expenses in periods other than the period in which the transaction is posted.