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Anju Bala - Microsoft Dynamics NAV 2016 Financial Management

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Anju Bala Microsoft Dynamics NAV 2016 Financial Management

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Master the world of financial management with Microsoft Dynamics NAV 2016

About This Book
  • Familiarize yourself with Dynamics NAV and get up to date with the latest release this is an invaluable tool for financial management
  • Learn how to use reporting tools that will help you to make the right decisions at the right time
  • Explore features inside the sale and purchase areas as well as functionalities including payments, budgets, cash flow, fixed assets, and business intelligence
Who This Book Is For

This book will appeal to financers and accountants who are using Dynamics NAV as their ERP and financial management system. Dynamics NAV consultants and project managers will find it useful for their daily work.

What You Will Learn
  • Handle complete business processes for purchases and sales in Dynamics NAV.
  • Use the banking features and the reconciliation process to gain greater insights into a companys financial status.
  • Report data in a meaningful way that provides the company with insightful analysis.
  • Set up dimensions and link them with master tables and journals.
  • Work with multi-currency and intercompany postings. Receive and send documents electronically.
  • Manage complete Fixed Asset by Setup, transactions, budgets, and Fixed Asset Reporting.
In Detail

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 youre 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.

Style and approach

This book is an in-depth, practical tutorial demonstrating both the basic and more advanced concepts of financial management in Dynamics NAV.

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Microsoft Dynamics NAV 2016 Financial Management - Second Edition

Microsoft Dynamics NAV 2016 Financial Management - Second Edition

Copyright 2017 Packt Publishing

All rights reserved. No part of this book may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, without the prior written permission of the publisher, except in the case of brief quotations embedded in critical articles or reviews.

Every effort has been made in the preparation of this book to ensure the accuracy of the information presented. However, the information contained in this book is sold without warranty, either express or implied. Neither the authors, nor Packt Publishing, and its dealers and distributors will be held liable for any damages caused or alleged to be caused directly or indirectly by this book.

Packt Publishing has endeavored to provide trademark information about all of the companies and products mentioned in this book by the appropriate use of capitals. However, Packt Publishing cannot guarantee the accuracy of this information.

First published: October 2013

Second edition: January 2017

Production reference: 1301216

Published by Packt Publishing Ltd.

Livery Place

35 Livery Street

Birmingham

B3 2PB, UK.

ISBN 978-1-78646-949-6

www.packtpub.com

Credits

Authors

Anju Bala

Cristina Nicols Lorente

Laura Nicols Lorente

Copy Editors

Pranjali Chury

Laxmi Subramanian

Reviewer

Stefano Demiliani

Project Coordinator

Vaidehi Sawant

Commissioning Editor

Aaron Lazar

Proofreader

Safis Editing

Acquisition Editor

Chaitanya Nair

Indexer

Tejal Daruwale Soni

Content Development Editor

Rohit Singh

Graphics

Jason Monteiro

Technical Editors

Vibhuti Gawde

Pratish Shetty

Production Coordinator

Melwyn Dsa

About the Authors

Anju Bala is MCT/MCP/MCTS in Microsoft Dynamics NAV and AX. She is an ITIL Expert and Prince 2 certified as well. She has both business and technical skills and has been working with Dynamics NAV since 2010. She started in the ERP world as a trainer, but soon evolved the skill set of a complete Dynamics NAV professional, including all the tasks involved in Dynamics NAV implementation: consulting, analysis, development,implementation, training, and support to end users. Over the course of her Dynamics NAV career, Anju has often been designated as the primary person responsible for the success and failure of a Dynamics NAV implementation. Her extensive career in the Dynamics NAV business is evidence of her success rate and expertise. She specializes in Microsoft Dynamics NAV and Microsoft Dynamics AX. You can find out more about her and get in touch with her through her LinkedIn profile at https://in.linkedin.com/in/balaanju.

Cristina Nicols Lorente has been working with Dynamics NAV since 2005. She started in the ERP world as a developer, but soon evolved into a complete Dynamics NAV professional, doing all the tasks involved in Dynamics NAV implementation: consultancy, analysis, development, implementation, training, and support to end users.

When Cristina started developing solutions for Dynamics NAV she had no idea about accounting or any kind of business workflows. They don't teach those topics for a technical university career. Soon, she discovered that it is important to know the set of tools used, but even more important to understand the meaning of whatever you develop. Without knowing accounting rules, practices, and legal requirements, it is impossible to develop useful accounting functionalities even if you are the best developer. Only when you fully understand a company's processes, will you be able to do the appropriate developments. Having that in mind, she has taken courses in accounting, warehouse management, and operations management. She is also willing to take courses on any other company-related topics.

She thinks that the best way to learn is to teach what you are learning to someone else. She has actually learned almost everything she knows about Dynamics NAV by responding to user questions on Internet forums, by writing a blog about Dynamics NAV, and of course by writing the book you have in your hands. When you have to write about something, you have to experiment, try, investigate, and read. It is definitely the best way to learn. Cristina is also a coauthor of the book Implementing Microsoft Dynamics NAV 2013 , which had really good comments coming from different Dynamics NAV experts.

I would like to thank Isabel, who has supported me on this project. She has always believed in me and has been pushing me to find the time invested in this book. Without her, this project would have been much more difficult than it turned out to be. I would also like to thank Laura, my sister and colleague, the coauthor of this book, for always being positive about what you can reach with effort, discipline, and confidence in your own capabilities. She is the one who encouraged me to write this book. A special thanks to Josep and Josep Maria; they have given me an opportunity to professionally evolve. They have always believed in me and have given me the needed confidence to take my own steps and responsibilities. The final thanks go to all my colleagues and customers and also to all the people who helped me learn by posting questions on the forums. You have all contributed to the professional that I am today.

Laura Nicols Lorente started working with Dynamics NAV back in 2005, first in the support department, mostly solving functional issues and doubts. She soon jumped to full deployment: consulting, analysis, development, implementation, migration, training, and support.Right at the beginning, she realized that it was very important for a Dynamics NAV consultant to have a deep knowledge of business workflows. Technical skills are just not enough. So she started training herself in accounting, taxation, supply chain, logistics, and so on. She discovered a whole new world and found it very interesting.After having enough consultancy experience, she got to manage the first project on her own. And then, she realized that even tech and business knowledge is not enough; she also needed management skills. So, after reading different management books and trying different approaches on the projects she worked on, she decided to deepen her knowledge by taking a master's degree in project management. She is now transitioning to agile management and agile development for better project success. She continues her training in the three areas (tech, business workflows, and management) whenever she gets a chance to.The Web is a huge source of inspiration for her: groups, forums, blogs, books, and so on. She also contributes by sharing her knowledge and experience with the Spanish Dynamics NAV community. Laura is also a coauthor of the book Implementing Microsoft Dynamics NAV 2013 , which had really good comments coming from different Dynamics NAV experts.

I would like to dedicate this book to Roc and Quim, my twin sons, who were born while writing this book. Being a mum has changed me and my life, and I am really happy with it. A new life starts from now on. I hope I will be able to teach them the values I learned from my parents, which made me be the person I am. I also want to dedicate this book to Rosa, my wife, who gave birth to such beautiful babies. She is the pillar onto which I hold and the person that gives me the energy I need to keep going. I would like to thank Cristina. She is my sister, friend, and colleague. We both wrote this book and had a great time together while writing and learning. I wish us many successful projects together--now and in the future. I'd also like to thank my family, friends, colleagues, managers, and customers who helped me grow. And special recognition to my forum and blog followers for their comments. It is nice to know that you are helping people and that they thank you for that.

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