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Streamline accounting processes and strengthen control of your organization’s finances with General Ledger in Microsoft Dynamics™ NAV. With integrated data, intelligent transaction processing, and robust analytical and reporting capabilities, you can reduce the time and effort you spend on accounting tasks, monitor your organization’s fiscal performance, and meet business and regulatory requirements.
With account schedules, you can easily analyze general ledger data in the system and make faster and more confident decisions.
Benefits:
- Gain efficiency and boost productivity. Streamline routine accounting practices with automated financial processes and an intuitive interface tailored to each user’s most common tasks.
- Make informed, data-based decisions. Powerful analytical capabilities and robust reporting services can help you monitor performance, identify financial trends, and spot potential problems.
- Capitalize on global opportunities. Meet the most demanding international accounting requirements and conduct business internationally with flexible accounting processes and multicurrency support.
- Improve data integrity. Centralize all your core financial data—including actual, budget, foreign currency, and average balances—in a single ledger. A single posting process automatically synchronizes summary balances to provide up-to-the-minute data.
- Achieve financial transparency. Integrated systems, shared data, and drill-down capabilities help provide a clear view of your financial transactions. Entry numbers associated with each posting can help you track transactions for auditing purposes.
General Ledger gives you flexible options and tools for setting up a company and posting for charts of accounts, general journals, value-added tax (VAT) facilities, recurring journals, and source codes. You can customize your general ledger to include support for intercompany transactions and interfund accounting, as well as organize financial operations by company and consolidate different charts of accounts into one merged or parent company. With General Ledger you have the flexibility and control to help ensure that your financial operations are precise, efficient, and transparent.
Features:
- Intercompany transactions. Define multiple intercompany relationships between the parent and partner or subsidiary companies in your organization. Manage single-use or recurring transactions and distribute purchase order costs directly to subsidiaries.
- Interfund accounting. Reduce errors associated with manual reconciliation of funds and transfer balances smoothly between accounts.
- XBRL support. Distribute financial information over the Web or by e-mail. Help simplify reporting across multiple formats with support for Extensible Business Reporting Language (XBRL).
- Detailed budgets. Create budgets with a breakdown of every general ledger account and every total in the chart of accounts. Once you have created a budget, you can print actual balances and show variances by percentage.
- Dimensions. Assign financial information identifying characteristics or “dimensions” such as product, sales region, and time period to help you analyze and better correlate performance. Assign multiple dimensions to each budget entry. Filter your budget by up to four dimensions to create sub-budgets that match your organizational structure.
- Account schedules. Use dimensions to create complex account schedules. Help improve reporting with advanced options for selecting what to display in row and column combinations, such as showing debit amounts only when there is a balance.
- Automated transactions. Simplify transaction management with general, recurring, and auto-reversing entries. Post frequent transactions to your general ledger using a recurring journal. Assign a fixed amount to each line in the journal and choose how often the line should be posted with updated data.
- Flexible multi-user environment. Create as many journals as you want, each with its own document number series. People can work in a general journal while others are entering and posting data at the same time.
- Detailed audit trails. Help comply with financial regulations with easy data tracking and detailed audit trails. Access general ledger entries through the chart of accounts. Each entry is assigned an entry number and a transaction number when it is posted to an account, as well as a source code, a reason code, and a user ID.
- Change log. Improve error traceability with a change log that lists chronologically all direct modifications made to Microsoft Dynamics NAV master data with an associated user ID.
- Intelligent transaction posting. Check your journal balances before entries are posted. See how entries will affect your liquid accounts and make any necessary adjustments before you post the journal. You can back out or reverse a posting or an entire journal and post corrected entries while maintaining full audit control.
- Flexible accounting periods. Define any start date for your fiscal year and specify your own accounting periods to be used with budgets, statistics, and reports. Transfer year-end results to the balance sheet and at the same time balance out all income statement accounts.
- Foreign trade and currency management. Conduct business using an unlimited number of currencies. Manage customer or vendor accounts in a foreign currency and maintain your general ledger in two different currencies.
- Record-level security features. Help protect confidential financial data with role-based access rights to information.
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