An Extensive Guide to Microsoft Dynamics NAV

Microsoft Dynamics NAV is a complete solution for business management, designed to help small and midsized enterprises streamline and simplify their business processes. The software tool can adapt quickly to any specific business operation and delivers functionality that is industry specific and relevant to the local needs of the company’s areas of operations. The simplified customization, rapid adaptability, ease of use, and online capabilities provided by the Microsoft business software tool allow enterprises to add custom applications and functionality and helps them to stay competitive and effective.

The software’s modules are grouped by functional area and coded for easy identification of which licensing package is needed. Businesses have to possibility to choose between two Business Ready Licensing packages depending on the level of functionality needed: The Advanced Management preferred by growing companies that need highly complex accounting and financial programs, and the Business Essentials designed for companies that need easily scalable trade functionality and core financial management.

Both licensing packages can be upgraded with additional a la carte components that provide more features. The Microsoft business solution is licensed with license keys and requires registration that enables the chosen number of users and unlocks the licensed functionality.

The Microsoft Dynamics NAV is organized in modules or granules that contain series of objects. A module or granule can also contain other granules and it is a set of object permissions that are added to a license key. Granules that are grouped together form license keys and certain granules may require others as pre-requisites for the license key. From a security standpoint, user access rights are controlled by the System Administrator. Each new Business Ready Licensing site needs to order a site license and a Foundation Pack.

The powerful Microsoft financial reporting tool is used by the financial analysts and accountants to extract business data from the budgets, chart of accounts, cost types, and cash flow accounts into financial reports used to monitor the business and provide input for management decisions. The tool provides great flexibility as it is possible to choose the accounts to monitor and report on, combine figures in different styles, change the order of the accounts, choose the columns to print out, supply the accounts with additional notes, and change the description of the accounts.

Among the granules included in the starter pack are Allocations, Basic General Ledger, and Supply Chain Management. Allocations allow users to link general ledger entries to departments, combinations of accounts, and projects by using allocation keys based on percentage, amount, or quantity.

The Basic General Ledger includes the functionality necessary for setting up an enterprise and posting to the source codes, chart of accounts, general ledger, VAT facilities, general journals, and recurring journals. The starter pack Supply Chain Management module includes granules such as Sales and Receivable, Basic Receivable, Sales Invoicing, Sales Invoice Discounts, Sales Line Discounting, Cash Flow Forecast, Fixed Assets, Inventory, Cash Management, Purchase and Payable, Sales Tax. The Microsoft Dynamics NAV extended pack module for Supply Chain Management includes additional granules such as Calendars, Campaign Pricing, and Order Promising. There are also many additional modules in the extended pack, such as Manufacturing, Project Management, Sales, Marketing and Service Management.

Microsoft Dynamics NAV is a great option to simplify your business process.

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Michael is the Lead Author & Editor of DynaMe. DynaMe is a blog focused on cloud based Microsoft Dynamics.