Thursday, 27 August 2015

Check out the financial management functionality in dynamic NAV’s extended pack

Microsoft Dynamic NAV is a Robust and mature ERP system, specifically designed for wholesale and manufacturing companies. NAV‘s extended pack is more suitable for those mid-sized companies that needs more functional requirements for their business. Companies who are looking for adaptive solutions, financial management functionality are the core of NAV’s extended pack.

1. Nav‘s extended pack provides functionality to set up profit center and cost center. The Company can tie users to these functionality centers so that only the sales and purchase documents related to a specific user are displayed in his center. User also gets additional data like location codes and dimensions.

2. Intercompany posting is an exclusive feature of the financial management of NAV’s extended pack, which helps to manage the accounting data for multiple companies in a single posting process. A user can easily manage several companies or different partner companies in several dynamic NAV databases. Correct reconciliation and multiple currency support are also available in the Inter company Posting feature of NAV Extended Pack.

3. Cost accounting feature of NAV extended pack offers an efficient way of controlling the company costs through visibility and insight into the budgeted and the actual costs of departments, operations, products, and projects.

4. Account schedule is a powerful financial reporting tool that can help the financials analyst and accountants to extract essential business data from account & budget charts, cash flow accounts & cost types to the financial reports, facilitating the efficient monitoring of the financial health of the business by providing valuable inputs to decision makers.

5. Cash flow overcast feature helps in knowing the company liquidity will perform over time. It has two components cash receipt and cash disbursements.

6 Fixed assets and insurance helps in keeping track of the fixed assets like buildings, machinery, and equipment. Fixed asset transaction like acquisitions, depreciation, appreciation, write-downs, and disposal can also be posted here.

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