Using Budget in Dynamics 365 Business Central

Enhance your resource allocation process with Advance budgeting feature of Dynamics 365 Business Central

Enter the world of smart budgeting with Dynamics 365 Business Central. At Square International Consulting, Dubai we guide you to enable world-class decision making for executives and managers with “Advance Budgeting” functionality of Dynamics 365 Business Central.

Business Central offers enhanced user experience; secure API, and extendible industry and user specific functionality though customer programming or add-ons. While handing finances, Business Central offers a standard configuration of most financial processes and it can be changed the configuration to suit your business need. Being in budget and adjusting budget is vital part in financial process.

Business Central includes two types of budgets-General Ledger (G/L) budgets and Sales Budget.

General Ledger budget is used to keep track of business financial transactions and prepare financial reports.

Being the core of financial process, general ledger allows you to handle certain accounting issues in your company, such as- invoice rounding details, address formats, and financial reporting. You get to fill in the details of entities like customers, vendors, items, resources, and sales and purchase documents to general ledger accounts.

The amazing thing of Business Central G/L budget is that you can incorporate budgets by your dimension.

For example, instead of setting up separate general ledger accounts for each department and project, you can use dimensions as a basis for analysis and avoid having to create a complicated chart of accounts.

With the use of Business Intelligence (BI), financial statements based on account schedules including budget entries can be created. Functionality like analyzing budgeted versus actual amount in the chart accounts is easily analyzed.

Summing up, Business Central makes budgeting process less complex. If you are not using budgeting functionality in Business Central, it is high time to make most of it. With little training from our Microsoft certified expert your team will be able to sail through Advance budgeting.

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