Financial management with Microsoft Dynamics 365 Finance
What you can do in no time at all with Microsoft Dynamics 365 Finance
The financial management module in Microsoft Dynamics 365 for Finance and Operations provides insightful reports and analyses. Benefit from comprehensive and efficient functions for financial transactions, financial reconciliation between different sites and the head office, and cost accounting. Gain transparency over your financial data, monitor budgets and expenditure, and establish accounting policies and rules.
The financial management module of Microsoft’s ERP solution includes the following functional areas, amongst others:
Manage permissions and assign the correct role to your users.
Role examples: accountant, head of accounting, accounts receivable clerk, accounts payable clerk, financial accountant, chief executive officer (CEO), chief financial officer (CFO), controller, budget manager, environmental officer, head of debt collection.
General ledger accounts
Manage your financial accounting data with the option to configure multiple and recurring entries.
Your benefits
- Allocation of your costs and revenue
- Support for your closing procedures
- Preparation of closing entries
- Greater transparency thanks to unlimited financial dimensions
- Greater transparency thanks to comprehensive cost structures and rules
Accounts payable
Reconcile and pay your invoices in a single step. Allocate additional costs, pay travel expenses, commissions and salaries to your staff, or track advance payments for orders. In addition, Dynamics 365 for Finance and Operations provides a supplier portal with self-service functions for accessing all relevant information.
Your benefits
- Reduced processing times
- Simplified communication with suppliers thanks to self-service functions
Intercompany accounting and support for shared services
Dynamics 365 for Finance and Operations helps you post transactions between different sites and the head office. Consolidate your financial records and support the establishment of shared services across multiple legal entities through centralised processing of customer and supplier payments.
Your benefits
- Control over all accounting processes, including those at different branches and locations
- Consolidation of multiple legal entities as part of the standard functionality
Compliance and internal controls
Dynamics 365 for Finance and Operations makes it easier for you to ensure compliance with custom-defined requirements, policies and business rules. Implement internal controls using the Compliance Centre and ensure they are carried out. Microsoft Dynamics 365 for Finance and Operations helps you define company policies for expenditure, invoices and purchase orders, and automates your audit processes using the Audit Workbench. Electronic signatures are available to clearly identify and record the employees who make or approve changes. The toolset is complemented by a database log where administrators can see when and by whom a record was created or last edited. Furthermore, the CO₂ footprint can be determined in the Environmental Officer’s Role Centre.
Your benefits
- Centralised management and control of your compliance policies
- Identification of responsible staff members using electronic signatures to simplify approval processes
- Option to integrate an environmental officer into your compliance processes
Accounts receivable
Manage your invoices, terms of sale and discounts: Dynamics 365 for Finance and Operations processes your customers’ advance payments and records customer payments received. Dynamics 365 for Finance and Operations also provides, from a single system, the ability to monitor credit reports and manage dunning processes, with integration into case management that centralises all activities relating to an enquiry.
Your benefits
- An overview of all business transactions is already included as standard
- Simplified management of payment terms
Financial reporting
Financial reports allow for a customisable reporting structure and the linking of general ledger accounts or dimensions to these reporting structures. In Dynamics 365 for Finance and Operations, these are XBRL-compliant (Extensible Business Reporting Language) and help you meet regulatory requirements and international accounting standards, such as for balance sheets, profit and loss accounts and cash flow statements. In addition, transaction reports (retrieving data from the database for transaction processing), analytical reports (retrieving data from Microsoft SQL Server Analysis Services cubes) and key performance indicators (KPIs) are available to provide comprehensive transparency into your company’s overall financial situation. Examples of predefined cubes in the finance area include accounts payable, accounts receivable, environmental sustainability and general ledger accounts.
And should you ever need to work outside of Dynamics 365 for Finance and Operations, high-quality reports can be generated without IT support, which can then be consolidated between Dynamics 365 for Finance and Operations and your other accounting systems.
Your benefits
- Integration of your financial reporting into Microsoft Dynamics 365 for Finance and Operations, with access to all your ERP data
- Compliance with legal requirements and international accounting standards already built into the standard system
- Pre-defined reports for the rapid implementation of standard financial reports
- Definition of your own custom reports without the need for additional IT support
