Financial Management

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.

To See
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

See Also

Setting Up Finance
Closing Fiscal Periods
Managing Projects
Importing from Other Finance Systems
Working with General Journals
Working with Dynamics NAV

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