Book Image

Microsoft Dynamics 365 Enterprise Edition - Financial Management - Third Edition

Book Image

Microsoft Dynamics 365 Enterprise Edition - Financial Management - Third Edition

Overview of this book

Microsoft Dynamics 365 for finance and operations is a rapidly growing application and is widely used in enterprise organizations. Because of its ability to maximize business productivity, it is a fast-growing business application package in the ERP market. We will start by looking into ERP concepts, implementation needs, and interface design, giving you basic knowledge of financial management aspects and explaining key concepts along the way. To begin with, you'll be taken through the general ledger and financial dimension functions. You'll later learn about the sales tax mechanism and multi-currency in Microsoft Dynamics 365. We tackle each topic with focused examples and explanations on topics such as payable/receivable accounts, forecasting, cash and bank management, budgeting planning/control, and fixed assets. Finally, we walk you through intercompany, consolidation, costing basics, and financial reporting. By the end of this book, your finance team will have a much richer understanding of Microsoft Dynamics 365 for finance and operations and its powerful capabilities.
Table of Contents (24 chapters)
Title Page
Copyright and Credits
Dedication
Packt Upsell
Contributors
Preface
Index

Budget planning 


As defined in the Oxford Dictionary of Accounting, the budget is "

a financial or quantitative statement, prepared prior to a specific accounting period containing the plans and policies to be pursued during that period. It is used as the basis for budgetary control. Generally, a functional budget is drawn up for each functional area within an organization.

"

The budget planning function has been developed since previous versions of Microsoft Dynamics 365 for Finance and Operations. It covers the planning activities, including scenarios, stages, budget planning security options, and budget planning workflow and its stages in addition to Excel/Word templates. The following diagram illustrates the budget planning elements that will be covered in this section:

Budget plan scenarios represent the the different scenarios of budget planning and identify the units of measure for each record. The commonly used units of measure for budget planning are Monetary and Quantity. To create...