What makes Dynamics 365 Business Central # 1 ERP for Accounting and Finance?
For those who missed it, Forbes Advisor again voted Dynamics 365 Business Central the Best Overall ERP System of 2024.
Continuing this series on what makes Dynamics 365 Business Central the # 1 ERP, we consider the Accounting and Finance features.
Dynamics 365 Business Central is highly regarded for finance and accounting due to its comprehensive set of features that streamline financial processes and enhance decision-making. Below are some of the key features. For a quick video introduction please click the link:
General Ledger Management: It includes a standard configuration for financial processes, which can be customized to fit business needs. This includes a chart of accounts and standard posting groups for efficient default general ledger posting.
Accounting Tools: Business Central offers tools for registering financial transactions that meet various requirements, including dimensions for richer business intelligence, automatic currency exchange rate updates, and allocation of revenues and expenses.
Financial Analytics: Analytical tools are available for insights into financial data, with capabilities for analyzing finance data, setting up financial reporting across business units, and performing ad-hoc analysis directly on list pages and queries.
Accountant Role Center: A dashboard with activity tiles showing real-time key figures and quick access to data, financial reports, and statements. It also includes a navigation bar for switching between frequently used lists.
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Company Hub: For accountants working across multiple Business Central companies, the Company Hub page helps keep track of work and manage work across multiple companies.
Automated Financial Reports: Business Central can automate financial reports, cash flows, budget forecasting, and payment processing in multiple currencies, enhancing the efficiency and productivity of the accounting team.
Compliance and Forecasting: It helps maintain compliance effortlessly while improving forecast accuracy through comprehensive data modeling and analysis. Custom reports can be easily customized and shared with Excel integration.
AI & ML Capabilities: Business Central uses artificial intelligence and machine learning to facilitate better decision-making and proactive financial planning.
These features, along with the ability to handle regional tax reporting requirements and detailed cost accounting management, make Dynamics 365 Business Central a robust solution for finance and accounting professionals.
Take the next step
Staying ahead of change and competition is essential to growth and sustainability. Your business needs a cloud-based ERP system that can be customized to support your organization’s present goals and vision for the future – especially accounting and finance management. To get started with Dynamics 365 Business Central now, call or email David Blumentals , Director, Dynamics 365 Practice, [email protected] , +61 409 245 354.