As most of us know, Dynamics 365 is the next-gen line of cloud business applications from Microsoft, which unifies and brings together traditional CRM and ERP. Microsoft Dynamics 365 for Finance is one of the most popular Accounting solution for growing companies, and highly recommended by CPAs/Accountants.
Dynamics 365 for Finance has been developed for small and midsized businesses, who have outgrown their existing accounting and customer relationship software. Many SMB today are using basic, disconnected accounting tools, which can restrict growth and make it tough to analyze data, accurately forecast, and make good decisions. The intent with Dynamics 365 for Finance is to bring these people and business processes together, providing an end-to-end view of Accounting, Sales, Purchasing, Inventory, etc. all with Real-time Analytics.
As it’s positioned for SMB, the platform puts flexibility at the core of your business, allowing you to start with what you need, grow at your own pace, and adapt in real time. This means a company can start small, with just a couple roles to meet your business needs, and pay for only what you use.
Below is a simple, high level listing on the major focus areas of Dynamics 365 for Finance.
Accounts Receivables & Payables, Bank Reconciliation, Fixed Asset Management, Month / Year End Closings
Quote Generation, Contact Management, Sales Invoicing, Payment Processing
Procurement, Purchase Line Discounting, Purchase Order Management, Vendor Management
Forecasting, Inventory Control, Shipment & Distribution, Returns & Cancellations
Capacity Planning, Budgets & Estimates, Jobs & Process Costs, Resource Management
Dynamics 365 for Financials works seamlessly with Microsoft Outlook. In the latest release, you can go from Quote to Cash without even leaving your Outlook inbox. Dynamics 365 for Financials lets you to create quotes – pull product details, quantities directly from a customer’s email, add key details to your quote template in Outlook, and email the customer the quote all within minutes. It’s the same basic process when it’s time to create and send an invoice.You also have full visibility to your customer details, contacts, activities, and history right from within emails. This is great because users don’t have to waste time jumping around to different applications throughout their day, or ever worry about having to enter or type the same stuff twice.
Users can access live Dynamics 365 for Financials data, directly from Microsoft Excel, to read, write, and update Items, Sales Orders, and Purchase Orders. Integration with Excel has strong capabilities such as bulk imports / exports / updates, and Excel based data analysis using Charts and Pivot Tables, and as just about every financial professional is strong in Excel, this familiarity makes adoption a cakewalk. It’s the same basic familiar process for generating quotes with Microsoft Word.
There is special provision in this solution to provide visibility to CPAs and Accounting Firms, supporting Accounting processes of a company. Based on permissions, they can directly connect to multiple customer companies, and help them with ensuring compliance, and support with corrections and guidance related to Financial Data.
For QuickBooks users, and other similar accounting software users, there are easy migration options available. With middleware components/connectors from Nuway Solutions, we can setup One time data migrations or easily establish periodic exchange of data across QuickBooks and Dynamics 365.
That about wraps up it up for a brief summary on Dynamics 365 for Financials — For more information, please feel free to reach out to the Nuway Team!
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