Order to Cash (OTC) Process for the Microsoft Dynamics 365 Business Central system

While reviewing and comparing financial management systems to each other, many of our clients started by comparing the OTC process in the various offerings. Our OTC video will cover: Order Management Credit Management Order Fulfillment Shipping and Transportation Invoicing Accounts Receivable Collection Reporting (Cash-Flow) Although we attempted to keep our video brief and to the…

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Dynamics 365 Business Central – How to use Payment Methods properly in AR and AP

This video will describe the proper configuration and setup of the Payment Method in Accounts Receivable and Accounts Payable. The Payment Method functions in Microsoft Dynamics 365 Business Central can be used to auto create a payment record in the AR or AP module based on a posted invoice. This video will discuss the details…

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Dynamics 365 Business Central – Inventory Adjustments with Serial and Lot Numbers – Costing Issues

Dynamics 365 Business Central, formerly known as Dynamics NAV, has a number of inventory valuation methods it supports including FIFO, LIFO, Average, Standard and specific (Serial No only). The system will update and maintain proper cost buckets for each inventory journal entry based on the valuation method selected for the given item. Some of our…

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Dynamics 365 Business Central – How to process Cash Discounts and Write-Off in Accounts Receivable

Microsoft uses different terminology when describing write-off in the context of Accounts Receivable. Dynamics 365 Business Central (formerly known as Dynamics NAV) calls a Write-Off something slightly less frequently used in the US, specifically a “Payment Tolerance”. The system allows you control over whether payment tolerances are allowed at all. You can also control whether payment…

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Dynamics 365 Business Central – How to record Tariffs, Shipping​ Charges and other landed cost for Items

This brief video will cover the process of adding cost to the originating cost of an item. Microsoft Dynamics 365 Business Central allows for the ability to add costs such as Tariffs, Insurance, Shipping Charges, and brokerage fees to the unit cost of an item. The process involves a feature called item charges and you…

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Microsoft Dynamics NAV Customizations versus Dynamics​ 365 Business Central Extensions – Development

With the release of Dynamics 365 Business Central in October of 2018, Microsoft introduced a new concept for programming and development called an EXTENSION. In prior versions of Microsoft Dynamics NAV, a programmer would modify the course code directly for tables, pages, reports and code units. This would provide the local programmer with great flexibility…

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Year-End Closing Procedures for Microsoft Dynamics​ 365 Business Central (formerly know as NAV 2016, 2017, 2018)

Microsoft Dynamics 365 Business Central (formerly know as Dynamics NAV) has a three steps Fiscal Year End closing procedure. Once the closing procedure has been completed, you may still record new GL transaction into the closed Fiscal Year, however, and Profit & Loss items will cause you to re-close the Fiscal year to retained earnings.…

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