Following is the features provided in Financial Management :
1. FINANCIAL MASTER DATA
G/L ACCOUNT
CUSTOMER
VENDOR
DIMENSION
2. ACCOUNT CATEGORY & ACCOUNT SUB-CATEGORY
These are the further characteristics provided by MS dynamics NAV from NAV 2017 which is helpful for categorisation.
3. DEBIT/CREDIT FIELD ON COA
This field usable for end users if they want some identification of transactions.
4. INDENT COA
This function indents the chart of accounts as per Begin Total and End Total.
5. G/L Category
We can create new Account category from G/L Category page
6. Single Dimension and Multiple Dimension
These are the dimension pages present on Chart of accounts where we can provide the dimension for a single account.
7. G/L Account Deletion Control
We can control G/L Account deletion from general ledger setup page.
Field Name : Allow G/L Account Deletion Before
Field Name : Check G/L Account Usage
8. Where Used Function of COA Card
We can check the GL Account where it is used.
9. + Amount indicates Debit and -Amount indicates Credit in Dynamics NAV.
10. INCOMING DOCUMENT FUNCTIONALITY
This functionality is very useful for users when they want to start SCM process with a soft document.
It provides to create PI,SI and other journals.
11. Workflow is fully integrated with Finance Module.
12. Save as Standard Journal Function on Journal Page
This function saves your journal lines so next time you need not to type the same lines again.
13. Recurring Journal
If end user is posting some transactions regularly in a frequency then we can use this journal which provide us the methods like
1. FIXED
2. VARIABLE
3. BALANCE
4. REVERSING FIXED
5. REVERSING VARIABLE
6. REVERSING BALANCE
14. How to get last Month date in NAV?
1M+CM
15. How to post Deferrals in NAV?
Deferrals are those journal entries in nav which you can divide to pay in future like insurance,salary which we cant post right now but in coming future we want it.
There are methods which we can use in NAV :-
1. STRAIGHT LINE
2. EQUAL PER PERIOD
3. DAYS PER PERIOD
4. USER DEFINED
We also have default deferral code in COA Card.
16. BALANCE ACCOUNT TYPE FIELD ON GENERAL JOURNAL BATCHES?
Using this field we can define Bal. Account type field in Journals Page. We can define a bank Account if we are always paying via a BANK.
17. REMAINING AMOUNT FIELD & OPEN FIELD
These are very important fields available in ledgers via which we can identify the open lines for a document and remaining balance for the same.
18. WE CAN POST MULTIPLE INVOICE IN PAYMENT JOURNAL.
19. WE CAN ALSO CHECK MULTIPLE PAID INVOICE AT ONCE IN APPLIED ENTRIES FUNCTION ON LEDGER PAGE.
20. HOW TO APPLY POSTED INVOICES ?
We can post these invoices separately via Post Application function on Applied Entries page.
21. WHAT IS PAYMENT REGISTRATION?
We can register a Vendor or Customer how we will pay. This we can set up in Payment registration page. This will be helpful for Post and Send Function.
22. What is Lump Payment?
When we need to post a customer for multiple invoices. This we can achieve easily by payment registration Setup.
23. SUGGEST VENDOR PAYMENT FUNCTION ON CASH RECEIPT JOURNAL
This function collects all the vendor payments we need to post in journal.
24. Vendor Priority and Available BAlance.
When we are having less amount available and we need to pay by priority we can define the priority in vendor card from Priority field
25. Export Payment FILE FUNCTION
We need to give a file to vendors for importing data in Excel , XML, word
26. HOW CAN WE PAY TO VENDORS?
1. COMPUTER CHECK
2. MANUAL CHECK
3. ELECTRONIC PAYMENT
27. HOW TO REPRINT THE CHECK?
We can void the existing check from Check ledger entry.
28. PAYMENT RECONCIALIATION JOURNAL
This Journal provides various functions which we can use for payment to vendor.
29. TEXT TO ACCOUNT MAPPING
This function you can match your Description which existing COA.
30. PAYMENT SERVICE
This function we can use to link our generated invoice to directly payment link.
31. BANK RECONCILIATION
32. OUTLOOK SYNC
We can use assited setup called Outlook for financials which can synchronise the orders and invoices in mail.
33. OCR SERVICES
We can setup OCR in Incoming document page. We need to register on this URL to use this fucntionality. hhtp://store.readsoftonline.com
33. CASH FORECAST FUNCTIONALITY
This functionality allows you to check your future incoming recievables. You need to setup this.
For Example you can receive it via ;
1. Receivables
2. Liquid Fund
3. Payables
4. Manual Expenses/Revenue
5. Sales/Purchase Orders
6. G/L Budget
7. Jobs
34. STEPS for CASH FORECAST SETUP
1. COA Flow Accounts Setup
2. Cash Flow Setup
35. Steps for Close a fiscal year
1. Close Fiscal Year.
2. Close Income Statement
36. G/L Balance page we can check Balance per period as per G?L ACCOUNT
Last we can run close income statement report as many times as we want. If for any points any readers need clarification I can provide separate steps. But this post is for anyone want to quickly review the finance module.
Most of them are already available in MSDN.
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