Most of the companies conduct some form of activities related to budgeting, ranging from summary to highly detailed. These activities are mainly in the form of spreadsheets and are time-consuming to maintain.
Budget for Your Business
Dynamics 365 Business Central Business Central allows to lets you budget and report actuals by your ‘Cost Centers’, ‘Locations’, ‘Revenue Generators’, ‘Items’, ‘G /L Accounts’, or any of your key ‘Business Drivers’ with its dimensional chart of accounts structure. The system will keep track of actuals and provide real-time comparison reporting via its dashboards and
For those business organizations that have multiple companies, Dynamics 365 Business Central allows you to have budgets for each company and can assist you with consolidating the budgets across companies.
Managing Your Budgets
Budgets can be adjusted, based on how your organization is performing as budgets can be done yearly, quarterly, monthly, or even on a daily basis. You can set up an approval workflow so that changes are tracked and approved.
Dynamics 365 Business Central also allows you to export your budgets to Excel and so that you can use all these spreadsheet editing capabilities when preparing or editing your budgets. This process will allow you to quickly fill out all line items in a budget, and then simply import them back into the system.
For companies that are using cost budgets, Dyn365 BC allows you to have cost budgets with an easy system to manage cost types, Item, and sales budgets.
Whether you are doing ‘Incremental based’, ‘activity-based, or ‘zero cost budgeting’, Business Central offers you the tools needed to prepare, track, and report budget vs actual.
1 thought on “Streamline your Budgets with Dynamics 365 Business Central”
While I personally have never worked with Dyn365, I can definitely see why other businesses would want to implement it. It has proven itself as a great tool for financial management, which alone makes it worthwhile.