Book Image

Microsoft Dynamics 365 Enterprise Edition - Financial Management - Third Edition

By : Mohamed Aamer Ala El Din
Book Image

Microsoft Dynamics 365 Enterprise Edition - Financial Management - Third Edition

By: Mohamed Aamer Ala El Din

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

Chapter 14. Working with Cost Management

The costing function is one of the most critical subjects in the ERP implementation, specifically inventory costing. In the competitive and emerging markets of today, we aim at getting the best usage from the current company resources in order to ensure that they are translated into company profitability and more potential cash flow. On the other hand, the inventory cost affects the company reporting in the balance sheet and income statement, along with the cost of goods sold and cost of production. This function requires intensive workshops during the implementation life cycle to contest the business costing model and how it will be mapped to Microsoft Dynamics 365 for Finance and Operations.

In this chapter, we will cover the following topics:

  • Understanding the business costing model
  • Configuring inventory costing
  • Exploring the inventory costing background (physical and financial update)
  • Understanding inventory recalculation and closing
  • Working with inventory...