Microsoft Dynamics NAV includes a standard configuration of most financial processes, but you can change the configuration to suit your business. For more information, see Setting Up Finance.
The default 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 more efficient.
The following table describes a sequence of tasks, with links to the topics that describe them.
|Apply incoming payments, reconcile bank accounts during payment application, and collect outstanding balances.||Managing Receivables|
|Make payments, apply outgoing payments, and work with checks.||Managing Payables|
|Make your customers submit payment before you ship to them, or submit payment to your vendors before they ship to you.||Invoicing Prepayments|
|Reconcile bank accounts and transfer funds between bank accounts.||Managing Bank Accounts|
|Set up intercompany partners and process transactions, manually or automatically, between legal entities within the same company.||Managing Intercompany Transactions|
|Analyze the costs of running your business by allocating actual and budgeted costs of operations, departments, products, and projects to cost centers.||Accounting for Costs|
|Manage inventory and manufacturing costs, report costs, and reconcile costs with the general ledger.||Managing Inventory Costs|
|Understand the general ledger and the chart of accounts.||Understanding the General Ledger and the COA|
|Add dimensions for richer business intelligence.||Working with Dimensions|
|Create budgets to forecast different financial activities and assign dimensions for business intelligence purposes.||How to: Create Budgets|
|Record income or expenses directly in the general ledger without posting dedicated business documents.||How to: Post Transactions Directly to the General Ledger|
|Post reversing entries to undo value postings in the general journal or quantity postings on purchase and sales documents.||How to: Reverse Postings|
|Allocate an entry in a general journal to several different accounts when you post the journal.||How to: Allocate Costs and Income|
|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.||How to: Use Item Charges to Account for Additional Trade Costs|
|Post employees' personal expenses for business-related activities and reimburse employees by making payment to their bank account.||How to: Record and Reimburse Employees' Expenses|
|Recognize revenues and expenses in other periods than when the transactions were posted.||How to: Defer Revenues and Expenses|
|Learn how to use additional currencies and update currency exchange rates automatically.||How to: Update Currency Exchange Rates|
|Import salary transactions from your payroll provider into the general ledger.||How to: Import Payroll Transactions|
|Monitor the flow of cash in and out of your business.||Analyzing Cash Flows in Your Company|
|Work with financial statements and overviews in Excel.||Analyzing Financial Statements in Excel|
|Prepare to close a fiscal year or period.||Closing Years and Periods|
|Prepare a report that lists VAT from sales, and submit the report to tax authorities in the EU.||How to: Report VAT to Tax Authorities|
Setting Up Finance
Closing Fiscal Periods
Importing from Other Finance Systems
Working with General Journals
Working with Dynamics NAV
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