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Financial Reporting with Microsoft Dynamics 365 Business Central

Business / Enterprise resource planning / ERP / ERP News / Microsoft News

Financial Reporting with Microsoft Dynamics 365 Business Central

Financial Reporting with Microsoft Dynamics 365 Business Central

One of greatest challenges facing Finance and Accounting Departments in most Corporate Institutions is the inability to produce accurate financial reports. Financial information given to the stakeholders, regulators or the general public must be precise and accurate. Inaccurate reporting could easily lead to poor company decisions or legal troubles. 

Inaccurate reporting is mainly as a result of multiple people making multiple data entries, sometimes in multiple systems, often creating errors and inconsistencies. Dynamics D365 Business Central mitigates these risks by its architectures whereby all modules are in one environment as well as the built-in business intelligence and workflow management tools that ensure zero to non-chances of errors at the point of capturing various transactions. 

Dynamics 365 Business Central is a product in the Microsoft family that allows one to manage different business processes within one environment. What this really means is that one doesn’t need to have different sub systems for different business processes within an organization. This single application can manage various aspects of business including finance, manufacturing, sales and marketing, HR and payroll, project management, supply chain, services and many more. An organization can also easily add functionality that is relevant to its operation through customization. The ability to have all data stored in one environment, increases data consistency and system efficiency. 

Dynamics 365 Business Central as a reporting tool also stands out amongst its peer accounting software. The application supports a broad spectrum of information access and presents the same in  a structured manner. The application supports presentation of information in; analytical dashboards and graphs, operational reports, business document printouts and the traditional financial reports in line with both IAS and IPSAS. It’s worth noting that the application easily and seamlessly integrates with other Microsoft reporting tools such as power BI, Outlook, Word, Excel and PowerPoint. 

The most optimal decision an organization could make is to choose Dynamic 365 business central as their preferred ERP: if not for its limitless reporting features and capabilities then for its user friendliness. Dynamics 365 Business Central being a Microsoft product provides a familiar user interface. Accounting is complex as it is, the best thing an organization could do is get a simple solution that is easy to use to address its accounting complexities. 

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