Business Central Solutions

business central financal management

Business Central Financial Management

Financials: General

General Ledger

Set up companies and post to the general ledger though general journals. Use features for VAT and sales tax, recurring journals, and background posting of journals. Posting and reporting can be done in one additional reporting currency.

Use built-in reports, customized reports (both RDCL and Word), and easily refresh data in Microsoft Excel, and Power BI reports and charts.

View and edit the data in most general ledger pages using Microsoft Excel.

Dimensions

Use unlimited dimensions in transactions in all ledgers for important parts of your business, such as departments, projects, sales channel, and geographical areas. Set up rules for how to combine dimensions and dimension values. Control the use of dimensions and increase the reliability of output based on dimensions. Assign default dimensions values to master data such as general ledger accounts, customers, vendors, fixed assets, resources, and items. Set up rules to prioritize the use of default values.

Use data from dimensions in reports for filtering, financial reporting to analyze your general ledger, and in data sent to Power BI.

Multiple Currencies

Conduct business with customers and vendors in any number of currencies. Use multiple currencies on sales and purchase documents, bank transactions, and payables and receivables payments. Store currency details for transactions in receivables and payables are stored in local and foreign currencies. Adjust currency values in local and foreign currencies for unrealized gains and losses to keep aging reports correct for receivables and payables.

Budgets

Track business progress using budgets in the general ledger. Use budgets in financial reports, user-defined analysis in financial reporting, or in data sent to Power BI for data sharing and analysis.

Interoperability with Microsoft Excel allows you to import and export data for easier collaboration with stakeholders and enhanced calculation capabilities when you prepare budgets.

Cost Accounting

Gain 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 are 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.

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