Book Image

Microsoft Dynamics NAV 2016 Financial Management - Second Edition

By : Anju Bala, Cristina Nicolas Lorente, Laura Nicolàs Lorente
Book Image

Microsoft Dynamics NAV 2016 Financial Management - Second Edition

By: Anju Bala, Cristina Nicolas Lorente, Laura Nicolàs Lorente

Overview of this book

Microsoft Dynamics NAV is a global Enterprise Resource Planning (ERP) solution that provides small and mid-size businesses with greater control over their finances and a way to simplify their supply chain, manufacturing, and operations. Microsoft Dynamics NAV Financial Management explains all you need to know in order to successfully handle your daily financial management tasks. This book walks you through all the improvements in the latest release and shows you how to apply them in your workplace. You will learn about functionalities including sales and purchase processes, payments, bank account management, reporting taxes, budgets, cash flow, fixed assets, cost accounting, inventory valuation, workflows, sending and receiving electronic documents, and business intelligence. This book comprehensively covers all the financial management features inside the latest version of Dynamics NAV and follows a logical schema. By the time you’re finished this book you will have learned about budgets, cash flow management, currencies, intercompany postings, and accounting implications in areas such as jobs, services, warehousing, and manufacturing.
Table of Contents (15 chapters)
Microsoft Dynamics NAV 2016 Financial Management - Second Edition
Credits
About the Authors
About the Reviewer
www.PacktPub.com
Customer Feedback
Preface
5
Foretelling - Budgeting and Cash Flow Management

Consolidating financial statements


When you have a group of companies, you may need to aggregate their financial statements into a single one to know how the holding company is doing as a group.

Such a task can be performed to consolidate different companies that are in the same database, companies in different databases (even in older Dynamics NAV versions), or using data coming from other business management programs.

Regarding data, consolidation can be performed when the different subsidiary companies or business units have different charts of accounts, fiscal years, or currencies.

Performing consolidation

Performing a consolidation is as easy as executing a batch process. There are different scenarios, though, depending on where the data is. The easiest scenario is when all the companies, including both the consolidated and the subsidiary companies, are on the same database. Another scenario includes Dynamics NAV companies on different databases. And a third scenario includes financial...