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- Herausgeber: Packt Publishing
- Kategorie: Wissenschaft und neue Technologien
- Sprache: Englisch
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 and a way to simplify their supply chain, manufacturing, and operations.
Microsoft Dynamics NAV Financial Management explains all you need to know in order to successfully handle your daily financial management tasks. This book 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.
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Seitenzahl: 173
Veröffentlichungsjahr: 2017
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Table of Contents
Microsoft Dynamics NAV 2016 Financial Management - Second Edition
Microsoft Dynamics NAV 2016 Financial Management - Second Edition
Copyright © 2017 Packt Publishing
All rights reserved. No part of this book may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, without the prior written permission of the publisher, except in the case of brief quotations embedded in critical articles or reviews.
Every effort has been made in the preparation of this book to ensure the accuracy of the information presented. However, the information contained in this book is sold without warranty, either express or implied. Neither the authors, nor Packt Publishing, and its dealers and distributors will be held liable for any damages caused or alleged to be caused directly or indirectly by this book.
Packt Publishing has endeavored to provide trademark information about all of the companies and products mentioned in this book by the appropriate use of capitals. However, Packt Publishing cannot guarantee the accuracy of this information.
First published: October 2013
Second edition: January 2017
Production reference: 1301216
Published by Packt Publishing Ltd.
Livery Place
35 Livery Street
Birmingham
B3 2PB, UK.
ISBN 978-1-78646-949-6
www.packtpub.com
Credits
Authors
Anju Bala
Cristina Nicolàs Lorente
Laura Nicolàs Lorente
Copy Editors
Pranjali Chury
Laxmi Subramanian
Reviewer
Stefano Demiliani
Project Coordinator
Vaidehi Sawant
Commissioning Editor
Aaron Lazar
Proofreader
Safis Editing
Acquisition Editor
Chaitanya Nair
Indexer
Tejal Daruwale Soni
Content Development Editor
Rohit Singh
Graphics
Jason Monteiro
Technical Editors
Vibhuti Gawde
Pratish Shetty
Production Coordinator
Melwyn Dsa
About the Authors
Anju Bala is MCT/MCP/MCTS in Microsoft Dynamics NAV and AX. She is an ITIL Expert and Prince 2 certified as well. She has both business and technical skills and has been working with Dynamics NAV since 2010. She started in the ERP world as a trainer, but soon evolved the skill set of a complete Dynamics NAV professional, including all the tasks involved in Dynamics NAV implementation: consulting, analysis, development, implementation, training, and support to end users. Over the course of her Dynamics NAV career, Anju has often been designated as the primary person responsible for the success and failure of a Dynamics NAV implementation. Her extensive career in the Dynamics NAV business is evidence of her success rate and expertise. She specializes in Microsoft Dynamics NAV and Microsoft Dynamics AX. You can find out more about her and get in touch with her through her LinkedIn profile at https://in.linkedin.com/in/balaanju.
Cristina Nicolàs Lorente has been working with Dynamics NAV since 2005. She started in the ERP world as a developer, but soon evolved into a complete Dynamics NAV professional, doing all the tasks involved in Dynamics NAV implementation: consultancy, analysis, development, implementation, training, and support to end users.
When Cristina started developing solutions for Dynamics NAV she had no idea about accounting or any kind of business workflows. They don't teach those topics for a technical university career. Soon, she discovered that it is important to know the set of tools used, but even more important to understand the meaning of whatever you develop. Without knowing accounting rules, practices, and legal requirements, it is impossible to develop useful accounting functionalities even if you are the best developer. Only when you fully understand a company's processes, will you be able to do the appropriate developments. Having that in mind, she has taken courses in accounting, warehouse management, and operations management. She is also willing to take courses on any other company-related topics.
She thinks that the best way to learn is to teach what you are learning to someone else. She has actually learned almost everything she knows about Dynamics NAV by responding to user questions on Internet forums, by writing a blog about Dynamics NAV, and of course by writing the book you have in your hands. When you have to write about something, you have to experiment, try, investigate, and read. It is definitely the best way to learn. Cristina is also a coauthor of the book Implementing Microsoft Dynamics NAV 2013, which had really good comments coming from different Dynamics NAV experts.
I would like to thank Isabel, who has supported me on this project. She has always believed in me and has been pushing me to find the time invested in this book. Without her, this project would have been much more difficult than it turned out to be. I would also like to thank Laura, my sister and colleague, the coauthor of this book, for always being positive about what you can reach with effort, discipline, and confidence in your own capabilities. She is the one who encouraged me to write this book. A special thanks to Josep and Josep Maria; they have given me an opportunity to professionally evolve. They have always believed in me and have given me the needed confidence to take my own steps and responsibilities. The final thanks go to all my colleagues and customers and also to all the people who helped me learn by posting questions on the forums. You have all contributed to the professional that I am today.
Laura Nicolàs Lorente started working with Dynamics NAV back in 2005, first in the support department, mostly solving functional issues and doubts. She soon jumped to full deployment: consulting, analysis, development, implementation, migration, training, and support. Right at the beginning, she realized that it was very important for a Dynamics NAV consultant to have a deep knowledge of business workflows. Technical skills are just not enough. So she started training herself in accounting, taxation, supply chain, logistics, and so on. She discovered a whole new world and found it very interesting. After having enough consultancy experience, she got to manage the first project on her own. And then, she realized that even tech and business knowledge is not enough; she also needed management skills. So, after reading different management books and trying different approaches on the projects she worked on, she decided to deepen her knowledge by taking a master's degree in project management. She is now transitioning to agile management and agile development for better project success. She continues her training in the three areas (tech, business workflows, and management) whenever she gets a chance to. The Web is a huge source of inspiration for her: groups, forums, blogs, books, and so on. She also contributes by sharing her knowledge and experience with the Spanish Dynamics NAV community. Laura is also a coauthor of the book Implementing Microsoft Dynamics NAV 2013, which had really good comments coming from different Dynamics NAV experts.
I would like to dedicate this book to Roc and Quim, my twin sons, who were born while writing this book. Being a mum has changed me and my life, and I am really happy with it. A new life starts from now on. I hope I will be able to teach them the values I learned from my parents, which made me be the person I am. I also want to dedicate this book to Rosa, my wife, who gave birth to such beautiful babies. She is the pillar onto which I hold and the person that gives me the energy I need to keep going. I would like to thank Cristina. She is my sister, friend, and colleague. We both wrote this book and had a great time together while writing and learning. I wish us many successful projects together--now and in the future. I'd also like to thank my family, friends, colleagues, managers, and customers who helped me grow. And special recognition to my forum and blog followers for their comments. It is nice to know that you are helping people and that they thank you for that.
About the Reviewer
Stefano Demiliani is a MCSD, MCAD, MCTS on Microsoft Dynamics NAV, MCTS on Sharepoint, MCTS on SQL Server, and a long-time expert on other Microsoft-related technologies. He has a master's degree in computer engineering from Politecnico of Turin. He works as a senior project manager and solution developer for EID (http://www.eid.it), a company in the Navlab group (http://www.navlab.it), one of the biggest Microsoft Dynamics groups in Italy, where he’s also the Chief Technical Officer. He has a good amount of experience in Microsoft Dynamics NAV (from the first versions of the ERP). His main activity is architecturing and developing enterprise solutions based on the entire stack of Microsoft technologies (Microsoft Dynamics NAV, Microsoft Sharepoint, Azure, and .NET applications in general, and OLAP and BI solutions for data analysis), and he’s often focused on engineering-distributed, service-based applications. Stefano works as a full-time NAV consultant (with over 15 years of international NAV projects) and he is available for architecturing solutions based on Microsoft’s ERP and for NAV database tuning and optimization (performance and locking management). He’s the author of different Microsoft Certified NAV add-ons (for example, the first cost accounting add-on on NAV). He has written many articles and blogs on different Microsoft-related topics and he’s frequently involved in consulting and teaching. He has worked with Packt Publishing in the past on many books related to Microsoft Dynamics NAV. You can find out more about him and get in touch with him through his site http://www.demiliani.com or via Twitter (@demiliani) or Linkedin.
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Preface
Dynamics NAV is an Enterprise Resource Planning (ERP) system targeted at small- and medium-sized companies. An ERP is a system, a software, which integrates internal and external management information across an entire organization. If you search the Internet, you will find plenty of documentation, web forums, and all kinds of information covering Dynamics NAV from many technical points of view, but you will find little or nothing covering Dynamics NAV from a functional point of view, meant for end users. Thousands of users from all around the world who use Dynamics NAV as their main tool for daily work complain that they cannot find information about what they need from the system. And they are right.
This book is written for them, after the experience of training many end users on each implementation we have worked on. We have found out that most users do not care about system configuration; they just want to know how the system works. They contact Dynamics NAV consultants to set up when needed. But in the little end user documentation they find, each topic starts with a full setup introduction that confuses readers and possibly even discourages them from reading.
In this book, we have changed the established structure of official manuals. Instead, we have used a logical structure that makes it easy to read and very easy to understand; this is how we teach Dynamics NAV in our training courses, and this is how people tell us they have learned and understood the application.
Don't think this book is meant only for financers and accountants; this book is also meant for Dynamics NAV consultants and developers. You need complete functional knowledge of Dynamics NAV to become an expert, and this book can help you with it.
You will never finish learning about new features and functionalities. The idea behind the book is that you learn enough to be able to keep learning on your own. Every single field in every single table can hide a mini functionality that can help you in your work.
What this book covers
Chapter 1, The Sales and Purchase Process, explains how these two essential business areas in all companies can be handled in Dynamics NAV. It also shows how Dynamics NAV translates all the transactions into accountancy language on the fly. In this chapter, you will learn how to create new customers and vendors, set up your pricing policies, and the documents used when selling and purchasing, as well as their workflows.
Chapter 2, Managing Payments and Banks, discusses how companies have to charge for the items delivered and have to pay for the services received after invoicing. In this chapter, you will learn how to manage different payment terms and methods and to analyze customer and vendor extracts and their outstanding balances.
To verify that the statements your bank provides you agree with the payments and charges you have posted into the system, you can use the Bank reconciliation feature, which is explained in the chapter.
Chapter 3, Accounting Processes, explains how to handle accounting tasks such as reporting taxes, fixed asset management, inventory valuation, posting payroll accrual entries, and provisions. This chapter also covers other accounting transactions, annual accounting close, and consolidation with other companies.
Chapter 4, Reporting and Business Intelligence, discusses the tools that can help you with the analysis, both inside and outside the application. The previous chapters teach you about data entry and data processing tasks. Once the data is introduced into the system, you should be able to analyze it.
This chapter explains how dimensions can be used to tag entries so that you can group entries with similar characteristics. This will allow you to report on the data in a way that is meaningful to the company.
Dynamics NAV has a bunch of reports that can be used out of the box. Account Schedules and Analysis view are features that allow users to create their own reports. You can also use the Business Intelligence tools included in Excel by linking it with your Dynamics NAV database.
Chapter 5, Foretelling - Budgeting and Cash Flow Management, explains how accounting rules are based on fait accomplis, but companies need to anticipate and predict events. In Dynamics NAV, budgets are used to plan costs, revenues, and resources and can be used to set up goals and measure performance. The cash flow management functionality is meant to help companies to predict future cash needs.
Chapter 6, Financial Management Setup, explains that in Dynamics NAV everything leads to accounting, but most of the operations inside the Financial Management module can be carried out with little accountancy knowledge. You need to set up the system so that it can translate transactions into accountancy language according to your company's rules.
This chapter covers the general setup, the dimensions setup, the creation and configuration of posting groups, and the definition of number series.
Chapter 7, Other Financial Functionalities, explains briefly about currencies, intercompany postings, XBRL, and accounting implications on areas such as jobs, services, warehouse, or manufacturing. The previous chapters cover the most important aspects of financial management with Dynamics NAV. But the application has a lot more possibilities.
Chapter 8, Fixed Asset Setup and Transactions, explains the complete life cycle of a Fixed Asset from acquisition to disposal from the GL, AP, and FA modules. In this chapter, we will cover all the FA setups, transactions, budgeting, insurance, and maintenance entries. At the end, we will also see the major Fixed Asset reports.
What you need for this book
To successfully follow the examples in this book, you will need an installation of Microsoft Dynamics NAV 2016.
Who this book is for
This book is meant for financers and accountants that are using or going to use Dynamics NAV as their ERP and financial management system.
It is also meant for Dynamics NAV consultants and project managers that will help organizations to use the system for their daily work.
