Manage Your Company Finances Better with Dynamics NAV

Most of the businesses have financial management as their top concern among all operations. In particular, it is revenue that drives the business. Hence, proper and efficient management of a company’s finances is important. In such a case, businesses can deploy inventively orchestrated financial management solutions to properly manage the financial operations, allocate finances, maintain budgets, and optimize all other operations efficiently. The financial management software within Microsoft Dynamics NAV provides companies with the inventive and adaptive tools to scale financial operations with the least hassle.

Let’s take a look at the inventive capabilities offered:

Accounts Allocations and Schedules

With the deployment of Microsoft Dynamics NAV, companies can rearrange financial reports based on the figures in accounts and budgets. Users can simply change the order of accounts, combine the figures, and check columns by simply choosing the accounts they want to include or exclude. Also, users can make simple calculations and allocate general ledger entries to a combination of accounts and projects.

General Ledger

This financial software delivers all the functionalities necessary for the setup and running of a company. Dynamics NAV enables its users to keep their information up-to-date by posting to the general ledger, chart of accounts, and journals. Its internal and external reporting capabilities allow businesses to produce and access important reports on a daily, weekly, and monthly basis. Dynamics NAV posts and creates reports in your company’s base currency along with multiple currencies as well.

Budgets

Leveraging the core capability of this Financial System offered by Microsoft Dynamics NAV, companies can create budgets and maintain them in the general ledger accounts. Once the budget is created, the user can print a balance sheet showing discrepancies to the budget by percentage. Moreover, financial administrators can work with multiple budgets at one time to get a clearer picture of their business performance.

Consolidate Companies

With Microsoft Dynamics NAV, it is easy to consolidate different companies. Users can leverage its inventive capabilities to import and export a company’s important financial data efficiently, whether the companies come from one or several different databases. In particular, such consolidation helps financial managers make more informed and stronger financial decisions for the future.

Furthermore, this financial management software enables users to manage multiple accounts for more than one company in the same posting process. Also, it provides companies with important cash management tools, including bank account management, checks writing, and bank reconciliation to improve financials like never before.

On a conclusive note, to gain a competitive advantage and drive substantial business growth, leveraging the core capabilities of Dynamics NAV along with choosing the right partner turns to be a diligent move. Connecting to a certified partner can help you make the most of the application, drive greater scalability, and retain greater productivity in the long run.

To comprehend Financial System by NAV more closely, reach us anytime at info@navisionindia.in