Microsoft Dynamics 365 Finance

Microsoft Dynamics 365 Finance provides a single view of financial operations. With built-in predictive analytics, it helps to ensure better financial control over business operations, improve cash flow, accelerate turnaround and achieve compliance with corporate regulations. Enabling you to better anticipate your business needs, improve forecast accuracy, and drive company-wide strategy.

From the chart of accounts, to taxes, to budgets.
A number of modules fall under the finance area, such as General Ledger, Accounts Payable, Accounts Receivable, Cash and Banks, Cost Accounting, Taxes, Budgets, and others.

Assets can be tracked from different perspectives - accounting, tax or international accounting standards. There are also advanced features for creating and adhering to budgets, and approval processes can be set up and managed through workflow. The Taxes module allows the generation of electronic submissions to authorities by default, including control reports, summary reports or Intrastat. Financial dimensions are an important feature of the system, providing opportunities for deeper analysis of financial transactions without the need to create complex charts of accounts.

Advanced reporting
Reports and analyses, aggregated data, default Power BI reports, custom indicators, charts, flowcharts and interconnectivity with other modules - these are just some of the capabilities that Microsoft Dynamics 365 Finance has thanks to its interconnectivity with other tools from the Microsoft family. In addition to the now standard use of business intelligence solutions, Power BI opens up a new dimension of forecasting and planning that leverages the elements of artificial intelligence and machine learning.

Optimising company consolidation
Microsoft Dynamics 365 Finance addresses the challenge of company consolidation in several ways. First of all, the Online Consolidation functionality can be utilised, including the process of eliminating interrelationships. In addition, advanced reporting features are available. Last but not least, data for consolidation can be imported/exported. In addition, all three options can be combined. Microsoft Dynamics 365 Finance thus provides a flexible solution that responds to the structure and critical needs of companies.

Microsoft Dynamics Office Add-in
Microsoft Office Add-in is a powerful tool that makes it easy to process large amounts of data in an environment that is familiar to almost all of your employees. For example, in Excel, this add-in enables users to read, analyse, and modify data from Microsoft Dynamics 365 Finance and publish the modified data back into the system.

Dual currency
Microsoft Dynamics 365 Finance supports the use of multiple currencies by default. However, the dual currency concept goes even further, to the level of a secondary accounting currency. When posting transactions on the general ledger, subsidiary ledgers or in the asset module, entries are automatically created in dual currency as a standard, eliminating the need for conversions and time distortions. In fact, there is a complete parallel accounting in a different currencies. In practice, this means, for example, that the CFO always has an up-to-date comparison of the performance of all subsidiaries without the need for any intervention and recalculation.

Dynamics 365 Finance provides a powerful platform to help you execute projects as complex activities that are performed to deliver a service, to produce a product, or to accomplish time- and resource-intensive tasks.  It supports a wide range of features and enables project management and accounting across many industries.

Project hierarchy
Dynamics 365 Finance enables project management using a project tree, which gives the project manager an overview of all sub-projects. Each sub-project can have different characteristics and is structured into tasks that can be scheduled for different project resources. The Gantt chart will provide an overview of the capacity load, including an overview of the sequencing of activities within the project with the ability to interactively reschedule.

Independence on the industry
Dynamics 365 Finance supports different types of projects in different industries. In the call centre, it can manage tickets and actions needed to resolve calls. Consulting companies use it for their operations and projects. In marketing, it manages campaigns as sets of activities that need to be executed. In project production, it manages production orders and activities that lead to the delivery of final products. In all of these examples, Microsoft Dynamics 365 helps plan, execute, and analyse projects.

Plan versus reality
Dynamics 365 Finance allows you to quickly set up a project budget by transaction type, category or activity. The budget is subject to versioning and its approval can be managed using workflow. The easily definable structure of the sequence of superordinate and subordinate activities for a given project gives a snapshot of the difference between plan and reality in actual accrued costs and hours. By fully completing a job, further cost accrual for that project job is therefore blocked.

Schedules
Dynamics 365 Finance allows employees to easily log their time on-site and remotely via mobile devices into timesheets. Up-to-date visibility of employee hours spent on a project helps manage day-to-day administrative financial tasks and address unforeseen delays by enabling you to estimate and record the percentage of completion of the activities.

Project financial measures
Depending on the company's needs, Dynamics 365 Finance helps to set costs and sales hourly rates in contrasting ways and with different constraints. It creates a link to a specific project, time period or a specific employee. The system ensures that the correct costs and agreed sales price are automatically applied for later invoicing to the customer and specific project evaluation.

Microsoft Dynamics 365 Finance can be used independently for financial management, or very elegantly combined with other tools from the Microsoft Dynamics 365 family, such as Customer Insight, Supply Chain Management and others. Additional advanced functionality can be leveraged from their native integration, such as automatic matching and checking of invoices with purchase orders and delivery notes. At the same time, this approach enables you to assemble a portfolio of ERP tools flexibly and precisely tailored to your company needs.
You can also extend it, for example, with our invoice automation application Active Invoice Reader.