There are many enterprise systems that provide value to organization by structuring financial the data, however merely processing information is not enough. With analytics and reporting tool in Business Central integrated with Power BI stay ahead in marketplace.
Financial management feature in Business Central connects financial transactions and information across various departments. Several reports are included in Business Central finance feature to help auditors or controllers create, maintain, deploy and view financial statements.
When a business needs to generate a balance sheet, regulatory data, or even forecasting information, the time, energy, and effort that go into compiling, processing, and formatting those data can be daunting. Using Business Central, you get to streamline the financial reporting process saving time and money and ensuring regulatory compliance. What’s better is there is no need for additional tools or configuration step for generating reports.
Here are the benefits you will have for using Business Central for your department
- Adjusts inventory values so that you use the correct adjusted cost for updating the general ledger, sales and profit statistics. The cost adjustment forwards any cost changes from inbound entries, such as those for purchases or production output, to the related outbound entries, such as sales or transfers.
- Shows the chart of accounts with balances and net changes. You can choose to see a trial balance for selected dimensions. You can use the report at the close of an accounting period or fiscal year.
- Shows the opening balance by general ledger account, the movement in the selected period of month, quarter, or year and closing balance.
- Shows a trial balance in comparison to a budget. You can choose to see a trial balance for selected dimensions. You can use the report at the close of an accounting period or fiscal year.
- Shows a detail trial balance for selected general ledger accounts. You can use the report at the close of an accounting period or fiscal year. You can define which accounts are included in the report by setting filters.
- Account schedules can be used to display the general ledger accounts in a different way than in the chart of accounts. For example, account schedules can be used for reports on key figures.
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