Financial Management from Microsoft Dynamics NAV

Microsoft Dynamics NAV for Financial Management provides your employees with a way to increase the visibility of financial indexes of the financial management of your entire organization – and all of this with familiar Microsoft tools.

The Finance module is a central application area of the Microsoft Dynamics NAV solution where all financial information is posted, summarized and analyzed. It offers basic functionality necessary for posting transactions.

Fixed Assets

You can allocate Different Percentages of fixed asset transactions, such as acquisition cost and depreciation, to different departments or projects by using allocation keys. Useful for when several departments share a fixed asset.


Keep track of insurance coverage and annual Insurance premiums for your fixed assets and easily determine whether your assets are under-insured or over-insured. You can attach each asset to one or more insurance policies and also index insurance amounts.

Record Maintenance and Service expenses for each fixed asset. Get the detailed information (P&L) you need to analyse and make decisions about the renewal and disposal of fixed assets.


Reclassify a fixed asset or part of a fixed asset—for example, from one department to another. You can split one fixed asset into several fixed assets, or combine several fixed assets into one fixed asset. When you need to dispose of one part of a fixed asset, you can split it into two assets and then dispose of the appropriate one

Main Features of Standard Financial Management Module
  • Complete revision records creation
  • Historical data reporting (also in the cases when the local currency was transferred to Euro).
  • Financial Statement’s reporting in an additional reporting currency (GST Statement, Annual Reports, Income/Balance Sheet statement)
  • Possibility of defining unlimited number of formats for your financial reporting.
  • Assigning budgets to single accounts, responsibility centres or projects on the basis of defined periods – days, weeks, months or years

Excel-Friendly Format

Forms are simple to create and edit with Microsoft Dynamics NAV and data is easily imported and exported to Microsoft Excel, allowing you to include all available fields or select only particular fields which can save users a lot of time with data manipulation later on. More over, you can define relations among exported tables and link any field with one another from different tables.

 

Basic Components of Standard Financial Management Module

Base Component

You can use this component for setting up the company and posting to the General Ledger. It offers basic functions necessary for setting up company and posting to the General Ledger: charts of accounts, general journals, GST functions, recurring journals and source codes. It also contains equipment for internal and external audits. It enables to post and record in a local currency. If you buy also Foreign currency component you will be able to post and record in additional currency. This component allows two languages from the beginning – international English and national language for particular country. It allows one installation of Microsoft Dynamics NAV Application server. This component has to be always included in the first purchase, because it contains one session and first company..

This component enables you to reconcile your bank account in Microsoft Dynamics NAV with the bank statement. You can apply amounts from your bank account entries using the Bank Acc. Reconciliation form and keep track of all bank statements.

This component enables working with budgets of general ledger accounts. Once you create a budget you can print the balance of actual results in comparison to the budget and differences in percentage. You can work with more than just one budget. Budgets are usually created for period of appropriate general ledger accounts. You can create, print and work with the unlimited number of budget at the same time. That means you can work e.g. with 100% budget, 110% budget etc..

You use this component for financial audit. You can create report in terms of chart of accounts and budgets entries but also with the different order of the amounts, texts or details then in chart of accounts. Accounting schemes component is like a filter to the chart of accounts that enables you to choose accounts that you want to include (or the other way round you do not want to include). You can also use it for changing the order of accounts or for combination of amounts in different ways and you can set up printing of particular columns. What’s more you can make simple calculations.

This component enables you to allocate ledger entries to combinations of accounts, department and groups with the use of the allocation keys. These keys can be based on an amount, percentage or quantity. Allocation can be used for many purposes e.g. for allocating indirect costs (such as rent) to profitable departments.

This component enables you to manage unlimited number of bank accounts in local and foreign currencies.
Prior Posting Statistics
This unique functionality enables the user to run a (prior to posting) report that displays which General Ledger accounts are going to be effected by posting and by what amounts. This functionality is much appreciated by users posting complicated accounting transactions.
Reliable and Accessible Reporting

Account Schedules

Microsoft Dynamics NAV uses account schedules to analyse values posted to chart of accounts or to compare budgets with real postings to chart of accounts offering the ability to set up scheduled reports such as:

  • Balance Sheet
  • Balance Sheet in thousands
  • Profit and Loss
  • General Ledger   
  • GST

Microsoft Dynamics NAV allows users to calculate and post GST settlement and create reports for customs offices and taxing authorities.

General Ledger Entries application

This functionality enables easy year end inventory of General Ledger accounts and enables you to efficiently create your General Ledger account balance.

Credit for Payables and Receivables

If your vendors and customers relationships are on business and financially knotted together, you’ll surely welcome the possibility to use credit of payables and receivables.

Using Credit you can apply and close opened customer and vendor entries in one operation. This is possible also in case of multilateral credit when there are applied entries of several customers and vendors. Automatic control on customers and vendors Registration No. can also be set up for when entries are credited.