Govern how the business operates with accuracy and real-time data insights and maintain local revenue and customs compliance
Financial Management
Microsoft Dynamics 365 Business Central includes a standard, out-of-the-box configuration for most financial processes, but with the flexibility to change the configuration to suit your business.
By default the configuration includes a chart of accounts and standard posting groups that make the process of assigning default general ledger posting accounts to customers, vendors, and items much more efficient.
Features include
✔ Accounts
✔ Budgets
✔ Cash Flow Forecasting
✔ Fixed Assets
✔ Bank Integrations
✔ Multi-Currency / Company
✔ (AI) Late Payment Predictions
STATSPORTS
“At STATSports we focus on efficiencies and performance as part of the market we are in but more important to us is to ensure we harness technology to provide the best service to our customers, and we see Microsoft Dynamics and Sysco Software Solutions as helping us do that.”
Paul McKernan, CIO – STATSports
Core Financial Management Features
- Apply incoming payments, reconcile bank accounts during payment application, and collect outstanding balances.
- Make payments, apply outgoing payments, and work with checks.
- Make your customers submit payment before you ship to them, or submit payment to your vendors before they ship to you.
- Reconcile bank accounts and transfer funds between bank accounts.
- Set up intercompany partners and process transactions, manually or automatically, between legal entities within the same company.
- Analyse the costs of running your business by allocating actual and budgeted costs of operations, departments, products, and projects to cost centres.
- Manage inventory and manufacturing costs, report costs, and reconcile costs with the general ledger.
- Combine general ledger entries from multiple companies in one virtual consolidated company for financial analysis.
- Add dimensions for richer business intelligence.
- Create G/L budgets to forecast different financial activities and assign dimensions for business intelligence purposes.
- Record income or expenses directly in the general ledger without posting dedicated business documents.
- Post reversing entries to undo value postings in the general journal or quantity postings on purchase and sales documents.
- Allocate an entry in a general journal to several different accounts when you post the journal.
- Assign extra costs, such as freight and physical handling that you incur during trade, to the involved items so that the cost is reflected in inventory valuation.
- Post employees’ personal expenses for business-related activities and reimburse employees by making payment to their bank account
- Recognise revenues and expenses in other periods than when the transactions were posted.
- Use additional currencies and update currency exchange rates automatically.
- Import salary transactions from your payroll provider into the general ledger.
- Use functions to calculate value-added tax (VAT) on sales and purchase transactions so that you can report the amounts to the tax authorities.
- Prepare a report that lists VAT from sales, and submit the report to tax authorities in the EU.
- Convert service contracts to change their VAT rate.
- Monitor the flow of cash in and out of your business.
- Follow and end-to-end procedure on using use account schedules to make cash flow forecasts.
- Work with financial statements and overviews in Excel.
- Use the Accountant Role Centre, invite an external accountant, and use the Accountant Hub to manage accounts for multiple clients.
Built on the power and security of Microsoft and the Dynamics 365 Business Central platform.
With full integration to the Microsoft Enterprise Technology stack, Sysco Manufacturing builds upon the power and diversity of Microsoft Dynamics 365 Business Central with powerful integrations that enables your teams to do more, react faster and stay efficient.
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consultation today.
Talk to us to find out how the Sysco Manufacturing platform helps to manage sales, production planning, stock, purchasing and the shop floor.
