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financials
 

General Ledger for Microsoft Dynamics NAV

General Ledger is the central application area of Microsoft Dynamics NAV (Navision) where all financial information is posted, summarized and reported.

Key Benefits:

  • Generate complete audit trails.
  • Make reports using historical data.
  • Show amounts in an alternative currency on financial reports, annual report and income statements.
  • Define an unlimited number of formats.
  • Automate procedures to improve workflow.

Download Fact Sheet
 

Key Features

Description

FlowFields and Lookup Buttons

Use flowfields to receive the most up-to-date financial data:

The system continually updates and recalculates contents of a flowfield online.

You can drill down from all flowfield amounts to view which entries were included in the calculation of the amount.

Use the Navigate feature to see a summary of the number and type of entries with the same document number as a particular entry.

 

Specify which information should be displayed in a window by using filters on flowfields and tables:

You can set a table filter on one or more fields in a table. For example, you can specify that only German customers should be shown in the Customer List window.

You can use filters on flowfields to limit which entries are used in calculating the amounts or quantities presented in a flowfield. For example, you might exclude entries from certain departments from being part of a flowfield calculation.

 

Lookup buttons in many fields give you direct access to information in a table (for example, from a journal line):

You only have to enter information correctly once, and it can be reused consistently on all later occasions.

Data input is quicker because you don’t have to reenter information.

dimensions

Define an unlimited number of dimensions and dimension values at any time.

Name dimensions as you please, so that your dimensions setup reflects the specific needs of your company at all times.

 

Set up dimension value hierarchies to reflect your reporting and accounting needs.

Use defaults effectively to avoid a lot of manual data entry and ensure that the desired dimensions data is always posted.

 

Use analysis views to investigate relationships between dimensions and monitor performance.

Attach an infinite number of dimensions to each budget entry.

Flexible Accounting Periods

Define any starting date for the fiscal year and specify your own accounting periods with an unlimited number of periods of any duration:

For example, you can divide your fiscal year into quarterly periods, monthly periods or daily periods. This can be effectively used to have your accounting periods match seasonal variations or local accounting requirements.

 

Use filters to view and print financial data across periods, regardless of starting and closing dates.

 

Transfer income statement balances to your balance sheet with ease using the Close Income Statement batch job:

Closing entries can be created per business unit, department code and/or project code or per G/L account, and are retained by the program in a specified journal for scrutiny before posting.

Closing entries are sorted and marked, making them easy to view and filter on.

The batch job can be carried out as many times as necessary so you can make corrections to your income statement even after transferring balances to your balance sheet.

 

Securely close your fiscal year while retaining the flexibility to ensure correct accounting data:

Post prior-year entries and adjusting entries even though a fiscal year is closed. Both entry types are marked, making them easy to view and filter on.

Foreign Trade and Currency Management

Maintain general ledger in two different currencies so you can view balances online and print financial reports for two currencies simultaneously.

 

Invoice a customer or a vendor in an unlimited number of currencies.

 

Manage entire customer and vendor accounts in a foreign currency.

 

Define an unlimited number of currencies and determine the way in which foreign currency amounts are rounded and posted.

 

Set up relational exchange rates in the format applicable in your country.

Traceability

Transactions leave a complete audit trail, so that even complex business transactions become transparent.

 

View all G/L entries for all accounts or specific accounts from your Chart of Accounts, journals, account cards and so on:

§  Use the Navigate feature to locate all entries posted with the same document number and posting date. In the Navigate window you can see the type and number of entries made and can view them directly from the window.

This is possible for both internal and external document numbers.

 

G/L registers record every entry made and where and when it originated.

 

Use the Find function on any field and in any window to locate information, for example, specific document numbers.

 

Define your own source codes, which are allocated to each entry to show that entry’s origin. You can supplement this information by combining source codes with reason codes in journals and invoices.

Security and Business Rules

Specify which personnel and roles may see which information using record-level security:

§  Use mandatory filters on table data to ensure that certain roles only have permission to access the data you have specified.  For example, a sales person may only see sales figures for their region or managers may only see budgetary amounts for their departments. This is only applicable for the SQL server option.

 

Automate procedures and policies in an organization by using business rules. Influence how your accounting is conducted and increase the consistency of data entry, and thereby data output.

§  Business rules can be applied to individual accounts, account types, dimensions, VAT accounting and many other areas of Navision.

General Journals

Use your general journals to post to g/l accounts, bank accounts, customer accounts and so on:

§  Set up an unlimited number of journal batches, for example, per user or for specific purposes like corrections.

§  Define rules for each individual batch, for example, you can assign a default balancing account and define rules for VAT calculation per journal batch.

 

Force documents to balance for each document type and document number before a journal can be posted.

Print a test report that highlights any corrections that need to be made before posting the journal. Present your journals as you please.

Using the Show/Hide function, you can select which fields are shown in the journal window.

Use recurring journals for frequent transactions, whether they are of fixed or variable amounts. You can also set an expiry date for when a series of recurring posts should end.

Use allocation keys to allocate an entry in a recurring journal to more than one account. Allocate by:

§  Quantity

§  Percentage

§  Amount

 

Reverse ledger postings for a transaction entered and posted manually in a journal, including reversal of general ledger entries, customer and vendor ledger entries, bank ledger entries, fixed asset entries and VAT entries.

Budgets

Create and maintain budgets in an easily comprehendible matrix form.

Investigate budgetary performance using account schedules and specific budget reports.

Have as many budgets as you want and of any period length, with the level of detail necessary to direct and control your business. Attach an infinite number of dimensions to each budget entry.

 

Allocate budgets on total accounts, for example, on accounts where a monetary ceiling has been set but no specific expenditures have been identified as yet.

Create very specific ‘sub-budgets’ within an overall budget, such as a sales budget for a particular customer target group per department over a specified period.

 

Monitor how individual units are performing and compare performance with other units, previous periods and budgeted amounts using dimensions on budget entries.

 

Create budgets quickly and efficiently by copying budgets from previous periods to a new period using an adjustment factor:

§  The adjustment factor can be applied to both G/L entries and G/L budget entries.

 

Exporting budgets to Excel and importing adjusted budgets back into Navision gives you the flexibility to distribute your budgets easily in the form best suited to your organization.

Account Schedules

Create an unlimited number of unique, company-specific reports based on g/l data, budget data and dimensions data:

§  Save reports and scrutinize them online using the drill-down feature.

§  Specify rows using any accounts or account totals from your chart of accounts.

§  Create formulas on rows and columns for on-the-spot calculations, so you don’t need to import or recalculate total rows each time new entries have been created.

§  Specify an unlimited number of columns. For example, you can easily compare G/L figures with budget figures using the Net Change, Formula, and Balance at Date column types.

§  Use the Comparison Period Formula to compare figures for current periods and previous periods.

§  Select budget and date filters, and choose whether to show amounts in your company’s additional reporting currency.

§  View KPIs using simple bar chart diagrams, allowing you to drill down into the details

 

Export your account schedules to Excel to make full use of Excel’s visual and presentation capabilities.

Consolidation

Consolidate financial statements for a series of business units from:

§  Single database

§  Other Navision databases

§  Other programs.

 

Transfer from different accounting structures to your own by dimension or business units.

 

Ensure that financial statements in different currencies are consolidated trouble-free using Microsoft Business Solutions-Navision’s well-developed exchanged rate functionality.

Choose which method to use when translating the G/L account from a foreign entity. For example, translate a foreign entity’s financial statement using the transaction date currency exchange rate.

 

View the effects eliminations will have on the consolidated company using the Eliminations report prior to posting eliminations.

Ensure that you have set up consolidation procedures correctly using the Consolidation – Check Database report.

intercompany postings

Create inter-company transactions between any two companies within a group controlled by the same legal entity. You can make correct due to/due from entries in more than one company, using relevant intermediary accounts.

Handle transactions such as: orders, invoices, credit memos, return orders and general journal entries.

Intercompany Postings can handle companies using different databases: the data transfer takes place using XML-files that are placed in a specific network folder or mailed to a designated receiving mail-account, using the sending users’ mail-client.

The Intercompany transaction report documents all of your inter-company transactions and eases the inter-company reconciliation process and provides an audit trail.

Use different currencies and different charts of accounts to facilitate interactions with international inter-company partners.

change log

Log user changes made to Microsoft Navision master data.

Log all direct modifications a user makes to the data in the database, except changes to ‘working documents’ such as journals and sales and purchase orders.

The change log functionality makes it possible to get a chronological list of all changes to any field in any table (except the above mentioned) and to see who (what user ID) made the changes.

XBRL

Import unlimited numbers of taxonomies from public authorities, credit institutions, banks, and so on.

Import both XBRL Specification 1 and Specification 2 taxonomies.

View and export taxonomies in more than one language when supported by a multi-language taxonomy.

View information attached to taxonomy.

Map taxonomy lines to any combination of general ledger accounts, using standard Navision filters.

View and print out an XBRL document file for appraisal before sending.

Export XBRL-document that can then be sent as an e-mail.