Microsoft Dynamics NAV Financial Management

Microsoft Dynamics NAV Financial Management
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Table of Contents
Sample Chapters
  • Explore the features inside the sales and purchases areas as well as functionalities including payments, budgets, cash flow, fixed assets, and business intelligence
  • Discover how the different aspects of Dynamics NAV are related to financial management
  • Learn how to use reporting tools that will help you to make the right decisions at the right time
  • This book fully prepares you to successfully use Dynamics NAV as your key tool for financial management

Book Details

Language : English
Paperback : 134 pages [ 235mm x 191mm ]
Release Date : October 2013
ISBN : 1782171622
ISBN 13 : 9781782171621
Author(s) : Cristina Nicolàs Lorente, Laura Nicolàs Lorente
Topics and Technologies : All Books, Enterprise Products and Platforms, Enterprise

Table of Contents

Chapter 1: The Sales and Purchase Process
Chapter 2: Managing Payments and Banks
Chapter 3: Accounting Processes
Chapter 4: Reporting and Business Intelligence
Chapter 5: Foretelling – Budgeting and Cash Flow Management
Chapter 6: Financial Management Setup
Chapter 7: Other Financial Functionalities
  • Chapter 1: The Sales and Purchase Process
    • Introducing Microsoft Dynamics NAV
      • Importance of Financial Management
      • Posted data cannot be modified (or deleted)
      • No save button
    • Understanding master data
      • Customers
      • Items
      • Vendors, resources, and locations
    • Pricing
      • Defining sales prices
      • Defining sales discounts
      • Purchase pricing
    • Documents
    • Document workflows
      • Document approval
    • Summary
    • Chapter 2: Managing Payments and Banks
      • Managing due dates
        • Payment terms
        • Prepayments
      • Using credit cards and other payment methods
      • Posting payments
        • Suggesting vendor payments
        • Creating and printing checks
      • Checking customer and vendor balances
        • Which invoice has been paid?
      • Bank reconciliation
      • Summary
      • Chapter 3: Accounting Processes
        • Posting accounting transactions
          • Standard journals
          • Recurring journals
            • Allocations
        • Reporting taxes – VAT
          • VAT Settlement
          • VAT Statements
        • Managing fixed assets
          • Creating a fixed asset and posting its acquisition cost
          • Revaluating fixed assets
          • Calculating depreciation
          • Selling or disposing a fixed asset
          • Canceling fixed asset entries
        • Inventory valuation
          • Choosing a costing method
          • Calculating item entries costs
            • Inbound entries
            • Outbound entries
          • Posting inventory valuation to the general ledger
          • Inventory valuation report
        • Closing the accounting year
          • Closing accounting periods
          • Running the Close Income Statement batch process
          • Restricting the allowed posting dates
          • Posting transactions on a closed year
        • Consolidating financial statements
          • Performing consolidation
            • Consolidating on single database
            • Consolidating with different databases
            • Consolidating with other applications
          • Reporting over a consolidated company
          • Setting it up
            • Defining business units
            • Translating a chart of accounts
        • Summary
        • Chapter 4: Reporting and Business Intelligence
          • Understanding dimensions
            • Defining default dimensions on master data
            • Using dimensions on documents and journals
          • Using filters and flowfilters
            • Applying filters on pages
            • Applying flowfilters on pages
            • Creating views
          • Using reports
          • Displaying charts
            • Show as a chart option
            • Adding charts to the role center page
          • Using account schedules
          • Analysis views
            • Creating analysis views
            • Using analysis views
              • Analysis by dimensions
              • Analysis views as a source for account schedules
          • Business Intelligence with Excel and PowerPivot
          • Summary
            • Chapter 6: Financial Management Setup
              • Understanding posting groups
                • Specific posting groups
                • General posting groups
                • VAT posting groups
              • Setting up dimensions
              • Number series
              • General setup
              • Summary

                Cristina Nicolàs Lorente

                Cristina Nicolàs Lorente has been working with Dynamics NAV since 2005. She started in the ERP world as a developer, but soon evolved to 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 about any kind of business workflows. They don't teach those kind of things 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 the 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 you will be able to do the appropriate de velopments. 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 co-author of the book Implementing Microsoft Dynamics NAV 2013, which had really good comments coming from different Dynamics NAV experts.

                Laura Nicolàs Lorente

                Laura Nicolàs Lorente started to work 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 from 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 to train herself accounting, taxation, supply chain, logistics, and so on. She discovered a whole new world and she found it very interesting. After having enough consultancy experience, she got to manage the first project on her own. And then she realized that tech and business knowledge is not enough: she also needed management skills. This is why after reading different management books and trying different approaches on the projects she worked on, she decided to deepen her knowledge by taking a Masters 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 the chance. The net 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 co-author of the book Implementing Microsoft Dynamics NAV 2013, which had really good comments coming from different Dynamics NAV experts.
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                Sample chapters

                You can view our sample chapters and prefaces of this title on PacktLib or download sample chapters in PDF format.

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                What you will learn from this book

                • Learn about all the Dynamics NAV functionalities for financial management
                • Understand the sales and purchases processes including customers, vendors, pricing, and the document workflows
                • Manage due dates for receivables and payables and manage credit cards and other payment methods
                • Report taxes and post accrual entries or valuate your inventory
                • Learn the importance of dimensions for reporting and business intelligence purposes
                • Create budgets and manage cash flows
                • Set up an application to use custom charts of accounts or different VAT posting groups
                • Get an overview of the accounting implications of areas such as jobs, services, warehousing, and manufacturing

                In Detail

                Microsoft Dynamics NAV is an Enterprise Resource Planning (ERP) application used in all kinds of organizations around the world. An ERP helps to integrate internal and external management information across an entire organization. It provides a great variety of functionalities in different areas such as accounting, sales and purchases processing, logistics, and manufacturing.

                Microsoft Dynamics NAV Financial Management explains all you need to know to successfully handle your daily financial management tasks. You will learn about functionalities such as the sales and purchase processes, payments, bank account management, reporting taxes, budgets, cash flow, fixed assets, inventory valuation, and business intelligence.

                This book comprehensively walks you through all the financial management features inside Dynamics NAV following a logical schema. This book is focused on what’s most important to you, the functionalities of Dynamics NAV, and it covers all setup explanations in a single chapter.

                You will gain in-depth knowledge about functionalities, including sales and purchase processes, pricing, document approval, payments, bank management, and accounting transactions. You will also learn about VAT reporting, fixed assets, inventory valuation, annual account closing, consolidation, reporting, and business intelligence.

                By the end of this book, you will have also learned about budgets, cash flow management, currencies, intercompany postings, and accounting implications on areas such as jobs, services, warehousing, and manufacturing.


                This book is an in-depth, practical tutorial demonstrating both the essential basic concepts and the more advanced concepts of financial management in Dynamics NAV.

                Who this book is for

                This book is for financers and accountants who are using Dynamics NAV as their ERP and financial management system. It will also help Dynamics NAV consultants and project managers of organizations who use the system for their daily work. Additionally, the book helps Dynamics NAV developers to understand the use of standard applications in organizations and helps them to develop improved features that are better integrated with existing ones.

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