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MetaOption LLC

How can new features in Dynamics NAV 2018 add value and growth to Finance teams?


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    With each new release of Dynamics NAV, Microsoft adds additional features and functionalities to help users become more productive and efficient, enabling them to grow their business. Microsoft Dynamics NAV 2018 provides users with additional accounting and financial capabilities not available in other software titles.

    Pre-configured Microsoft Excel reports
    NAV 2018 incorporates pre-configured Excel reports within the Business Manager and Accountant role centers in NAV. Users can easily choose pre-configured reports (balance sheet, income statement, cash-flow statement and more), that are ready to print from Microsoft Excel.

    Cancel or correct the posted invoices
    Modifying or correcting posted invoices is now easier in NAV 2018 from previous versions. Users can either Correct or Cancel a posted invoice. As you select one, a credit memo is generated and automatically creates the job planning lines in the background. Blocked jobs are not allowed for post corrections.

    Posting setup improvements in Microsoft Dynamics NAV
    Microsoft incorporates new smart algorithms that suggest posting setup accounts on posting setup lists. Simply add a combination of posting groups you want to set and click Suggest Accounts. The algorithm will then analyze existing posting setup user creates and suggests G/L accounts from similar posting setup. You can, however, disagree with the suggestion and change it to fit your specific needs.

    Better control of deleting posting setup has been added in NAV 2018. If you have posting setup used somewhere, you can check to see if it is already being used somewhere by inspecting the Used in Ledger Entries field. You can also be notified while preparing a document that posting setup is missing which removes any frustration at moment of posting.

    No more bottlenecks to cash flow with the bulk posting of orders, invoices and credit memos.
    Are your sales going so well that you can’t process the avalanche of invoices fast enough? Is this luxury problem becoming a drain on resources? No worries, now you can process batches of orders, invoices, or credit memos in one go by choosing the documents and then choosing Post selected.

    Intrastat reporting in Dynamics NAV 2018
    You can now indicate that you’re required to prepare Intrastat reports and set the default transaction types for normal sales and purchases as well as sales and purchase returns to make your Intrastat reporting faster. Finance teams can use the Intrastat Checklist report to see a visual indication of which Intrastat journal lines need correcting before submitting an Intrastat report.

    Flexible and on-the-fly posting to general ledger from documents
    Sometimes an additional fee or service isn’t in your item catalog which causes frustration when preparing sales or purchase documents; finance users can now benefit from the ability to add these items on their document lines and post the revenue to the correct general ledger account in Dynamics NAV 2018 from the document.

    Migration from QuickBooks
    You can now import payroll transaction files in the QuickBooks IIF format by installing the QuickBooks Payroll File Import extension. Aggregated payroll data, including date, payroll account, description, and amount, will be imported to your G/L accounts according to mappings that you perform once per payroll account.

    These are just some of the highlights of the capabilities that Dynamics NAV 2018 brings to support finance teams in improving productivity, accuracy, and ease of use of NAV 2018.

    Learn more about Microsoft Dynamics NAV 2018.

    For more information and a tailored demonstration, please contact us at MetaOption to learn more: (201) 377-3150.

    One Response to “How can new features in Dynamics NAV 2018 add value and growth to Finance teams?”

    1. Maintaining accounting now has turned into a complicated task and depending just on Quickbooks is not sufficient.

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