Microsoft Dynamics 365 Business Central Capabilities for SMB - Financial Management - Part 3
Blog Series I: Financial Management (Part C)
Essentials of Microsoft Dynamics 365 Business Central Financial Management Functionalities
Bank Account Management
Create, operate, and manage multiple bank accounts to cater to diverse business needs and across different currencies.
- Electronic Payments and Direct Debits
Create payment proposals based on vendor documents and generate bank payment files in ISO20022/SEPA format or use the AMC Banking Service to generate electronic payment files in the format your banks require. Create direct debit collections for a bank direct debit file in the ISO20022/SEPA format.
- Easy Payment Process for your customers
Give customers an efficient way to submit payments by adding links to online payment services to invoices in Business Central. Use the PayPal extension for access to a trustworthy global payment service that offers multiple ways to accept payments, including credit card processing and PayPal accounts.
- Reconciliation of Incoming and Outgoing Bank Transactions
Import bank transaction data from electronic files sent from your bank in ISO20022/SEPA format or other file types. Apply transactions automatically to open customer and vendor ledger entries and create your own matching rules. Review proposed applications and account matches. Change the algorithm behind the record matching by modifying, removing, or adding rules. Reconcile bank payments from the Payment Reconciliation Journal in one step, and in one place.
- Bank Account Reconciliation
Import bank statement data from electronic files sent from you bank in ISO20022/SEPA format or other file types. Reconcile bank statement data automatically to open bank account ledger entries and keep track of all bank statements. Filter bank statement information to view only the transactions that need attention. Summarize outstanding bank information and drill-down to the details of each bank transaction.
- Check Writing
Print checks as automated electronic checks or to write them manual, both with flexible options for voiding, reprinting, using check forms with preprinted stubs, and testing before printing. Consolidate payments to a vendor in a single check.
Export documents in Extensible Business Reporting Language (XBRL) format and import XBRL taxonomies. The XBRL module supports the XBRL 2.1 Specification released by the XBRL Consortium.
Microsoft Dynamics 365 Business Central is a cloud business application product which is supported through a network of partners like SIROCo. At SIROCo, we have decades of experience serving SMB with Financial Management needs and much more. Furthermore, we understand that each business has unique needs, and we have the expertise to help you deploy Microsoft Dynamics 365 Business Central – business management solution to fit your specific needs.
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