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Track and Analyze Business Financials with Dynamics NAV

Leveraging the key capabilities of robust Financial Management Software across accounting and finance can help you track and analyze your business information without much hassle. It offers end-to-end integration to help finance administrators efficiently manage the General Ledger, payables, receivables, inventory, analytical accounting, fixed assets, and cash flow. Moreover, it allows you to perform bank reconciliations and collections. Also, you can manage financial processes across multiple currencies, locations, or companies as well.

Along with the above-mentioned elemental functionalities, you can comprehend the business advantages of deploying an inventively orchestrated Financial System and optimize your business benefits like never before.

 

 Key Benefits of Navision For Financial Management

  • ·         Comprehensive, up-to-date financial information
  • ·         Quick and easy to identify trends and gain insight into business activities
  • ·         Ability to capitalize on financial knowledge and identify new business opportunities
  • ·         Fiscal performance monitoring
  • ·         Fulfillment of business and regulatory requirements
  • ·         Minimized the time and manual effort on accounting tasks
  • ·         Controlled and managed fixed assets
  • ·         Greater operational efficiency 
  • ·         Optimized cash resources with integrated accounts payables
  • ·         Maximized cash flow via streamlined accounts receivables
  • ·         Multi-currency support to expand into international markets and mitigate the complexity of global transactions.

Next, Financial Management Solutions offered by Microsoft Dynamics NAV helps businesses manage a broad range of other business areas according to their specific business requirements. Moreover, it allows administrators to add functionality as their business and its need grows.

In the meantime, you can take note of the following enhancements to NAV Financial Software:

Bank Reconciliations

You can witness streamlined fundamental accounting tasks including reconciling your general ledger cash account against your bank statements in Dynamics NAV. It enables you to easily identify and solve any discrepancies in lesser time than before matching cleared transactions.

Positive Pay

Another way to ensure financial and accounting accuracy is through Positive Pay. NAV Financial System is offering such extensive capability, which has been built on the Data Exchange Framework. Interestingly, this feature enables you to create custom export templates for transmitting authorized check payment information to your bank without a hitch.

Also, you can create templates for other institutions based on information provided by them. Moreover, it allows you to create multiple templates for multiple banks and multiple accounts as well.

Posting Preview

This feature enables financial administrators to see all the entries that will be affected by a transaction before they post it. In general, the preview is available for journal entries, receivables, payables, and service documents.

For instance, when you launch the preview, Dynamics NAV will show you the impact on your General Ledger along with all sub-ledgers (Vendor Ledger, Customer Ledger) made by the transaction. Eventually, you will be able to realize the value of items or products taken out of inventory for deferred revenue sales in addition to the portion of the COGS and sales recorded during each time period.

To summarize, the enhanced features in Microsoft Dynamics NAV ERP make it even more valuable and enticing to your finance and accounting team. Moreover, if you want to rely on accurate financial data for decision-making, leveraging a robust, cloud-native financial management solution has no alternatives.

For more detailed information on NAV for Financial Management, reach us anytime at info@navisionindia.in 

 

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