A well-to-do business organization lies on the foundation of a robust and substantial financial management. Organizations of all sizes, whether with regional, national or international structure, require businesslike management of their financial operations for a rapid build out. Along with decreasing time to value, it renders role-based workspaces to facilitate assertive decisions. Resolute financial management provides checks and balances to steer productivity, manage a budget, and ensure absolute transparency over all the business operations.
With the deployment of Microsoft Dynamics 365 For Finance and Operations, businesses can procure the following financial management capabilities to control and automate processes for notable progress.
This functionality enables business administrators to enter vendor invoices manually or receive it through a data entity in electronic mode. Using an invoice approval journal or the Vendor invoice page, one can validate the invoices, once it is entered or received. To automate the review process, this functionality proffers invoice matching, vendor invoice policies,and workflow services as well. This assists in segregating approved invoices meeting specific criteria from those identified for a check by an authorized user.
With this functionality, businesses can create customer invoices based on packing slips or sales orders.It enables administrators to enter free text invoices not related to sales orders. It facilitates business organizations to receive payments through various modes, including bills of exchange, cash, credit cards, checks,and electronic payments. In the case of multiple legal entities, organizations can centralize payments to track payments in a single legal entity.
Business administrators can deploy this capability for data collection from disparate sources, including general ledger, sub-ledgers, budgets, and statistical information. It enables the management to make the most informed decisions for price updates, cost control, and budgets by analyzing, summarizing and evaluating cost data.In cost accounting, the source data used for cost analysis remains independent.
Facilitating enterprises with cash and bank management capabilities, it assists in maintaining the legal bodies’ bank accounts and financial instruments associated with those bank accounts. These may include deposit slips, checks, promissory notes, and bills of exchange. This functionality helps businesses reconcile bank statements and print data on reports. Also, it offers other capabilities to manage letters of guarantee, transfer bank funds, and configure settlements efficiently.
Fixed assets stand for the items of value, including buildings, vehicles, types of equipment, which an individual or the organization owns. This functionality enables business organizations to enter acquisition information for fixed assets, manage by depreciating them, and set a capitalization gateway to regulate depreciation.
In particular, handling of fixed assets must hold correspondence to both international accounting standards and accounting compliances in each country across the globe. Hence, deploying Microsoft Dynamics 365 For Finance and Operations to regulate financial management as well as fixed assets is a smart choice. It assists in meeting the regulatory compliance required for managing fixed assets, including rules for recording acquisition, disposal transactions, and depreciation.
Rendering extensive capabilities for financial management, this efficient solution enables business administrators to allocate or distribute monetary amounts to one or multiple accounts. It facilitates to manage legal bodies’ financial records with diligence. Proffering two types of allocations, namely fixed and variable, it facilitates to settle transactions between ledger accounts and revalue currency aggregate. With its consolidation functionality, administrators can combine the financial results for numerous subsidiary legal bodies. Also, it provides a choice to configure subsidiaries in the same Dynamics 365 For Finance and Operations database or a separate database.
Administrators can create an integrated workflow through Expense management capability. It helps store payment method information, import credit card transactions,and keep a track of the money employees spend while incurring an expense for the organization. Facilitating elaboration of expense policies and automation of the travel expenses reimbursement, Dynamics 365 for Finance and Operations holds the optimum preference of global enterprises for expense management.
Integrating with Excel, it facilitates additional capabilities to create budget plans, custom calculations, and configure budget planning processes. Rendering exclusive functionalities of the budget control framework and rolling forecast, it assists in configuring unlimited monetary and quantitative scenarios. Also, it offers organizations budget register entries to revamp original budgets, do transfers, and carry-forward amounts from the previous year efficiently.
With this capability, business administrators can create, maintain, deploy, and view financial statements. It assists in designing various types of reports for detailed and interactive analysis, letting professionals move beyond conventional reporting constraints. Its components include report designer, report schedules, report design flexibility, and financial report collaboration.
This functionality of Dynamics 365 For Finance and Operations assist in initiating, executing, and analyzing project most efficiently. It enables business organizations to upgrade project management, irrespective of the industry of the organization. Administrations can deploy this application to plan, execute, and monitor projects in the field of marketing, legal bodies, call centers, construction, manufacturing, and campaigning. This capability assists in managing disparate project-types, such as time and material, fixed-price, investment, and cost projects proficiently and drives productivity as well.
Businesses can deploy Dynamics 365 For Finance and Operations to meet the rules and reporting needs for public organizations. It helps stimulate business processes, including fund accounting, budget commitments, billing, electronic payments, and general ledger.
The financial management capability of Dynamics 365 For Finance and Operations reinforces compliance with statutory provisions and supports global expansion. Rendering improved reliability of financial transactions, it enables businesses to prompt strategic planning. It provides more transparency of financial data, intuitive interface for robust reporting, and innovative tools to drive efficiency in cash flow management.