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Microsoft Dynamics NAV 2016 Financial Management - Second Edition

Book Description

Master the world of financial management with Microsoft Dynamics NAV 2016

About This Book

  • Familiarize yourself with Dynamics NAV and get up to date with the latest release – this is an invaluable tool for financial management
  • Learn how to use reporting tools that will help you to make the right decisions at the right time
  • Explore features inside the sale and purchase areas as well as functionalities including payments, budgets, cash flow, fixed assets, and business intelligence

Who This Book Is For

This book will appeal to financers and accountants who are using Dynamics NAV as their ERP and financial management system. Dynamics NAV consultants and project managers will find it useful for their daily work.

What You Will Learn

  • Handle complete business processes for purchases and sales in Dynamics NAV
  • Use the banking features and the reconciliation process to gain greater insights into a company's financial status
  • Report data in a meaningful way that provides the company with insightful analysis
  • Set up dimensions and link them with master tables and journals
  • Work with multi-currency and intercompany postings. Receive and send documents electronically
  • Manage complete Fixed Asset by setup, transactions, budgets, and Fixed Asset reporting

In Detail

Microsoft Dynamics NAV is a global Enterprise Resource Planning (ERP) solution that provides small and mid-size businesses with greater control over their finances.

This book explains all you need to know in order to successfully handle your daily financial management tasks. It walks you through all the improvements in the latest release and shows you how to apply them in your workplace.

You will learn about functionalities including sales and purchase processes, payments, bank account management, reporting taxes, budgets, cash flow, fixed assets, cost accounting, inventory valuation, workflows, sending and receiving electronic documents, and business intelligence. This book comprehensively covers all the financial management features inside the latest version of Dynamics NAV and follows a logical schema. By the time you're finished this book you will have learned about budgets, cash flow management, currencies, intercompany postings, and accounting implications in areas such as jobs, services, warehousing, and manufacturing.

Style and approach

This book is an in-depth, practical tutorial demonstrating both the basic and more advanced concepts of financial management in Dynamics NAV.

Downloading the example code for this book. You can download the example code files for all Packt books you have purchased from your account at http://www.PacktPub.com. If you purchased this book elsewhere, you can visit http://www.PacktPub.com/support and register to have the code file.

Table of Contents

  1. Microsoft Dynamics NAV 2016 Financial Management - Second Edition
    1. Microsoft Dynamics NAV 2016 Financial Management - Second Edition
    2. Credits
    3. About the Authors
    4. About the Reviewer
    5. www.PacktPub.com
      1. Why subscribe?
    6. Customer Feedback
    7. Preface
      1. What this book covers
      2. What you need for this book
      3. Who this book is for
      4. Conventions
      5. Reader feedback
      6. Customer support
        1. Downloading the color images of this book
        2. Errata
        3. Piracy
        4. Questions
    8. 1. The Sales and Purchase Processes
      1. Introducing Microsoft Dynamics NAV
        1. Importance of Financial Management
        2. Posted data cannot be modified (or deleted)
        3. No Save button
      2. Understanding master data
        1. Customers
        2. Items
        3. Vendors, resources, and locations
      3. Pricing
        1. Defining sales prices
        2. Defining sales discounts
        3. Purchase pricing
      4. Documents
      5. Document workflows
        1. Document approval
      6. Workflows
        1. Workflow process
      7. GL account cards
        1. General Journal
        2. Audit report
      8. Summary
    9. 2. Managing Payments and Banks
      1. Managing due dates
        1. Payment terms
        2. Prepayments
        3. Prepayment processing flow
      2. Using credit cards and other payment methods
      3. Posting payments
        1. Suggesting vendor payments
        2. Creating and printing checks
      4. Customer balances
        1. Which invoice has been paid?
        2. Vendor balances
      5. Payment registration
      6. Payment reconciliation
      7. Payment application rules
      8. The bank data conversion service
        1. Making payments with the bank data conversion service or SEPA credit transfer
        2. Incoming and outgoing payments in NAV
        3. Data Exchange Framework
      9. Bank account currency restrictions
      10. Bank reconciliation
      11. Summary
    10. 3. Accounting Processes
      1. Posting accounting transactions
        1. Standard Journal
        2. Recurring journals
          1. Allocations
      2. Reporting taxes - VAT
        1. VAT settlements
        2. VAT statements
      3. Managing fixed assets
        1. Creating a fixed asset and posting its acquisition cost
        2. Revaluating fixed assets
        3. Calculating depreciation
        4. Selling or disposing of a fixed asset
        5. Canceling fixed asset entries
      4. Inventory valuation
        1. Choosing a costing method
        2. Calculating item entry costs
          1. Inbound entries
          2. Outbound entries
        3. Posting an inventory valuation to the general ledger
        4. Inventory valuation report
      5. Closing the accounting year
        1. Closing accounting periods
        2. Running the Close Income Statement batch process
        3. Restricting allowed posting dates
        4. Posting transactions on a closed year
      6. Consolidating financial statements
        1. Performing consolidation
          1. Consolidating on a single database
          2. Consolidating with different databases
          3. Consolidating with other applications
        2. Reporting over a consolidated company
        3. Setting it up
          1. Defining business units
          2. Translating a chart of accounts
      7. Deferrals
      8. Summary
    11. 4. Reporting and Business Intelligence
      1. Understanding dimensions
        1. Defining default dimensions on master data
        2. Using dimensions on documents and journals
      2. Using filters and flowfilters
        1. Applying filters on pages
        2. Applying flowfilters on pages
        3. Creating views
      3. Using reports
      4. Displaying charts
        1. The show as chart option
        2. Adding charts to the Role Center page
      5. Using account schedules
      6. Analysis views
        1. Creating an analysis view
        2. Using analysis views
          1. Analysis by dimensions
          2. Analysis views as a source of account schedules
      7. Business Intelligence with Excel and PowerPivot
      8. Summary
    12. 5. Foretelling - Budgeting and Cash Flow Management
      1. Budgets
        1. Creating budgets
        2. Using budgets
      2. Cash flow management
        1. Creating manual expenses and revenues
        2. Cash flow management setup
      3. Summary
    13. 6. Financial Management Setup
      1. Understanding posting groups
        1. Specific posting groups
        2. General posting groups
        3. Tax posting groups
      2. Setting up dimensions
      3. Number series
      4. General setup
      5. Summary
    14. 7. Other Financial Functionalities
      1. Currencies
      2. Intercompany postings
      3. Accounting implications of other areas
        1. Jobs
        2. Service
        3. Warehouse
        4. Manufacturing
      4. XBRL
      5. E-services and document management
      6. Document exchange service
      7. The OCR service
      8. Simple Mail Transfer Protocol (SMTP)
      9. Process
      10. Summary
    15. 8. Fixed Asset Setup and Transactions
      1. What are fixed assets?
      2. The Fixed Asset cards
      3. Fixed Asset transactions
        1. Journals for fixed assets
        2. Acquiring fixed assets
        3. Purchasing fixed assets
        4. Calculating and posting depreciation
          1. Manual depreciation with the FA G/L Journal
          2. Calculating depreciation automatically
        5. Write-down and appreciation of fixed assets
        6. Fixed Asset disposals
          1. Posting the disposal through the FA G/L Journal
        7. Budget Fixed Asset transactions
          1. Demonstration - Budget for future acquisition costs
        8. Reclassifiying assets
        9. Transferring assets
      4. Setting up maintenance information
        1. Maintenance registration and costs
        2. Keeping track of service visits
        3. Recording maintenance costs
      5. Setting up insurance information
        1. The Fixed Asset Setup page
        2. Insurance types
        3. Insurance card
        4. Attaching assets to insurance policies
        5. Linking fixed assets to insurance policies
        6. Linking a fixed asset to an insurance policy through an insurance journal
      6. Fixed Asset reports
        1. Maintenance details report
        2. Insurance coverage details report
        3. Fixed Asset details report
        4. FA register report
      7. Microsoft announces Dynamics® 365 at WPC
        1. What is Microsoft Dynamics 365?
      8. Summary