Financial Management
General Ledger
Streamline accounting processes and strengthen control of your organization’s finances with General Ledger in DealershipDynamics.
With integrated data, intelligent transaction processing, and robust analytical and reporting capabilities, you can reduce the time and effort you spend on accounting tasks, monitor your organization’s fiscal performance, and meet business and regulatory requirements.
General Ledger gives you flexible options and tools for setting up a company and posting for charts of accounts, general journals, value-added tax (VAT) facilities, recurring journals, and source codes. You can customize your general ledger to include support for intercompany transactions and interfund accounting, as well as organize financial operations by company and consolidate different charts of accounts into one merged or parent company. With General Ledger you have the flexibility and control to help ensure that your financial operations are precise, efficient, and transparent.
Key Benefits
- Gain efficiency and boost productivity. Streamline routine accounting practices with automated financial processes and an intuitive interface tailored to each user’s most common tasks.
- Make informed, data-based decisions. Powerful analytical capabilities and robust reporting services can help you monitor performance, identify financial trends, and spot potential problems.
- Improve data integrity. Centralize all your core financial data—including actual, budget, foreign currency, and average balances—in a single ledger. A single posting process automatically synchronizes summary balances to provide up-to-the-minute data.
- Drill down to the details. Integrated systems, shared data, and superior drill-down capabilities help provide a complete transparent view of your financial transactions. Entry numbers associated with each posting can help you track transactions for auditing purposes. And find specific aspects of your company’s finances—with data from both the current fiscal year and previous years.
- View continually updated balances and net changes. In the chart of accounts, you can see continually updated balances and net changes for each account. They can be combined with a filter for date, project, department, budget, and business-unit dimensions. The filters can easily be defined, changed, or canceled. And with a single click of the mouse, you can drill down to see a record of all the ledger entries that comprise a given figure.
- Informative and Flexible. Checking how journal entries will affect the liquid accounts before they are posted. Easily track posted general ledger entries and reverse entries that were posted with incorrect information.
- Detailed Budgets. Create budgets with a breakdown of every general ledger account and every total in the chart of accounts. Once you have created a budget, you can print actual balances and show variances by percentage.
Key Features
- Intercompany Transactions: Define multiple intercompany relationships between the parent and partner or subsidiary companies in your organization. Manage single-use or recurring transactions and distribute purchase order costs directly to subsidiaries.
- Intercompany Postings: Creates intercompany transactions between any two companies within a group controlled by the same legal entity. The Intercompany Transaction report documents all intercompany transactions, simplifies the intercompany reconciliation process, and provides an audit trail.
- Interfund Accounting: Reduce errors associated with manual reconciliation of funds and transfer balances smoothly between accounts.
- XBRL Support: Distribute financial information over the Web or by e-mail. Help simplify reporting across multiple formats with support for Extensible Business Reporting Language (XBRL).
- Dimensions: Assign financial information identifying characteristics or “dimensions” such as product, sales region, and time period to help you analyze and better correlate performance. Assign multiple dimensions to each budget entry. Filter your budget by up to four dimensions to create sub-budgets that match your organizational structure.
- Multi-dimensional Analysis: Multi-dimensional analysis in DealershipDynamics helps organizations extract maximum value from their corporate data. Transform volumes of data into business information and analyze it in business context. Easily compare product in light of other important factors such as region and department. Gain quick insight into business performance and trends.
- Account SchedulesUse dimensions to create complex account schedules. Help improve reporting with advanced options for selecting what to display in row and column combinations, such as showing debit amounts only when there is a balance.
- Automated Transactions: Simplify transaction management with general, recurring, and auto-reversing entries. Post frequent transactions to your general ledger using a recurring journal. Assign a fixed amount to each line in the journal and choose how often the line should be posted with updated data.
- Flexible Multi-User Enviroment: Create as many journals as you want, each with its own document number series. People can work in a general journal while others are entering and posting data at the same time.
- Detailed Audit Trails: Help comply with financial regulations with easy data tracking and detailed audit trails. Access general ledger entries through the chart of accounts. Each entry is assigned an entry number and a transaction number when it is posted to an account, as well as a source code, a reason code, and a user ID.
- Change Log: Improve error traceability with a change log that lists chronologically all direct modifications made to Microsoft Dynamics NAV master data with an associated user ID.
- Intelligent Transaction Posting: Check your journal balances before entries are posted. See how entries will affect your liquid accounts and make any necessary adjustments before you post the journal. You can back out or reverse a posting or an entire journal and post corrected entries while maintaining full audit control.
- Flexible Accounting Periods: Define any start date for your fiscal year and specify your own accounting periods to be used with budgets, statistics, and reports. Transfer year-end results to the balance sheet and at the same time balance out all income statement accounts.
- Foreign Trade & Currency Management: Conduct business using an unlimited number of currencies. Manage customer or vendor accounts in a foreign currency and maintain your general ledger in two different currencies.
- Traceability: Helps ensure all transactions have a complete audit trail, so even the most complex business transactions become transparent. The Change Log records all direct user changes to master data. A chronological list of all changes to any field, in any table shows who made the changes and where it originated.
- Cash Manager: Includes bank account management, enabling organizations to create, modify, and delete unlimited bank accounts, transfer between bank accounts, and set up customer/vendor bank account cards. Cash Manager automates and controls the entire check-writing process and enables users to write checks in more than one currency and specify whether payment is made by a manually created check or a computer-generated check. You can also apply bank statement transactions to bank account ledger entries and deal with errors on your bank statement.
- VAT, Sales Tax & Other Use Taxes: Uses posting groups to automatically calculate VAT, sales tax, excise tax, or other use taxes for customers and vendors. Specify whether unit prices on sales and purchase lines should include or exclude the tax. For VAT, check that VAT registration numbers fit country standards and aren’t incorrectly duplicated for another customer or vendor in your database.
- FlowFields: Helps ensure that users receive the most up-to-date financial data and continually updates and recalculates the contents of a FlowField online. Users can drill down from all FlowField amounts to view which entries were included in the calculation of the amount.
- Lookup Buttons: Gives users direct access to information in a table. For example, from a journal line users only have to enter information correctly once, and it can be reused consistently on all subsequent occasions. This makes data input quick because there is no need for data reentry.
- Record-Level Security Features: Help protect confidential financial data with role-based access rights to information.
Payables
Maximize your cash resources and simplify payment processes with flexible, integrated accounts payable operations.
Financial success in business is not just about paying bills—it is about protecting your profitability. Payables in DealershipDynamics can provide your business with streamlined, end-to-end cash management services. Timely and accurate information about cash flow and discount opportunities can help you maximize your organization’s purchasing power while automated calculations and support for prepayments help drive efficiency. With robust vendor account functionality, including intercompany invoice posting, you can also make payments to comply with vendor terms, strengthening critical business relationships.
Key Benefits
- Control your payables. Manage your expenses more effectively with automated payment scheduling and tracking, electronic document approvals, and real-time information about cash flow status.
- Optimize your financial status. Add business value with tactical timing of cash flow disbursements and targeted use of invoice discounts.
- Improve purchasing power. Negotiate better terms and contracts with access to account balances and purchase information by vendor.
- Simplify expense allocation. Defer payments or costs over multiple periods with automatically managed calculations and customizable journal entries.
- Streamline common tasks. An easy-to-use, graphical interface helps finance professionals quickly access the information they need and drill down to critical accounts payable details.
Key Features
- Purchase Invoicing: Post and print vendor invoices and purchase credit memos with purchase invoicing. Vendor transactions, including invoices and payments, are automatically posted to your general ledger without manual data entry.
- Intercompany Purchase Cost Distribution: Quickly distribute vendor bills to subsidiaries with consolidated accounts payable processes that eliminate manual distribution of purchase invoices.
- Recurring Journals: Streamline processes by using recurring journals for your most common transactions, such as monthly lease payments or Internet access bills
- Multiple Currency Support: Define the currencies for business transactions and determine how those currencies are rounded and posted. Calculate the exchange rate gains and losses automatically. Specify a default currency for each vendor and manage the entire account in that currency, including payments.
- Standard Purchasing: Automate repetitive purchases by setting up standard purchase lines to insert into purchase orders.
- Payables Management: Prioritize the order in which vendors should be paid or determine payment schedules by discount availability. Stop payment on specific purchase orders until purchase invoice approval, or block specific transactions that require investigation.
- Vendor Account Management: Establish account records for each of your vendors that specify payment terms such as currency, tax information, and payment due dates. Get in-depth statistics about vendor balances, total purchases, and payments.
- Event Notification: Receive notices informing you if a customer exceeds their credit limit, has been blocked from further transactions, or has an overdue balance.
- Payables Reporting: Create a comprehensive suite of payable reports that can be sorted by calendar or fiscal year with on-screen display and search.
- Sales, Use or Value-Added Tax Processing: Calculate use tax when purchasing from vendors and track any sales or value-added taxes (VAT) you pay to vendors on fixed assets for expensing purposes.
Receivables
Optimize your cash flow position by accelerating accounts receivable processes and tracking customer payment activities.
Credit and collection activities don’t have to be difficult or labor intensive. With Receivables in DealershipDynamics, you can tightly manage customer accounts with credit limits and review dates, define collections criteria and payment terms on a customer-by-customer basis, initiate and track prepayments, and match receipts to invoices automatically to eliminate errors and improve processing consistency.
Key Benefits
- Increase sales process efficiencies. Track invoices, process receipts and partial payments, and automate document approval processes, adjustment processes, and installment payments.
- Build better customer relationships. Create customized statements, extend customer credit, and provide targeted discounts to preferred customers—all based on built-in business intelligence.
- Reduce your backlog of receivables. Highlight problem areas and priority accounts to improve your organization’s cash flow.
- Enhance business productivity. Boost efficiency with an easy-to-use, graphical interface that helps your finance professionals more quickly access the account information each needs most to efficiently complete common tasks.
- Get business insight to enhance sales. Employ customer account and sales performance tracking to help identify trends, plan sales strategies, and manage accounts more effectively.
Key Features
- Flexible Receivables Processing: Choose how to apply customer payments to invoices. For example, use the apply-to-oldest method or apply partial payments toward multiple invoices. Customize and automate customer statements and installment payments. Create schedules that calculate interest, amortize amounts, and generate reminders for customers with overdue balances. Define an unlimited number of finance charge terms, including interest rates, grace periods, minimum amounts, and currency, and generate finance charge memos manually or automatically based on preset due dates. View detailed information about receivables prior to general ledger posting and easily reverse any inaccurate postings with a complete, accurate audit trail.
- Prepayment Capabilities: Create and track a prepayment invoice on a sales order until the order is fully invoiced to significantly reduce manual updates.
- Standard Sales: Automate standard or repetitive sales by setting up sales document lines and discounts that you can automatically insert into new orders and invoices.
- Sales Invoice Discounts: Define a variety of discount terms, including discounts based on a percentage of the overall sale, and automatically apply them to individual order lines. Set up sales order discounts in local and foreign currencies.
- Customer Account Management: Establish an account card for each of your customers that specifies payment terms such as currency, tax information, and payment due dates. Get in-depth information about a customer’s sales history, available credit, and shipping or billing address.
- Payment and Discount Tolerances: Establish a tolerance level that enables you to fully close an invoice and payment entries, even when the bill is not paid in full. Set a payment discount tolerance to accept discounted payments after the terms of the discount have expired.
- International Sales Processing: Conduct business internationally with ease. Define an unlimited number of currencies to determine how foreign currency amounts are rounded and posted, and then manage entire accounts in the appropriate currency. Track the viability of your business through automatic calculations of exchange rate gains and losses.
- Custom VAT and Sales Tax Calculations: Use posting groups to automatically calculate value-added tax (VAT) details and sales tax for each of your customers so you can easily report this information to the relevant authorities.
Fixed Assets
Control and manage the entire life cycle of your fixed assets—from acquisition to disposal—to maximize the value of your business Investments.
Maintain complete records of all your asset information in a structure that makes sense for your business with Fixed Assets in DealershipDynamics. This fully integrated solution equips you to accurately record, bar-code, track, depreciate, and dispose of your company’s assets with minimal effort and maximum flexibility. You can view and analyze the current status of your fixed assets in real time, including costs, depreciations, and asset transactions. You can also automate depreciation calculations and other standard operations to streamline accounting procedures. A home page that groups the tasks and information asset managers need most makes it fast and easy to perform common tasks and access critical data.
Key Benefits
- Make depreciation work for you. View accumulated depreciation using any one of more than a dozen common tracking methods. Back out or project ahead for any asset on your books, and make better decisions about the most cost-efficient timing of asset acquisition and disposal.
- Save time managing changes. Use account groups to make changes to a large group of assets in a single operation, or update all fields related to one asset with just one posting.
- Take control of costs. Track and analyze maintenance and insurance costs for each of your fixed assets so you can budget effectively and better understand costs over the life cycle of the asset.
- Gain a more comprehensive perspective. Fixed Assets integrates with General Ledger and other DealershipDynamics functionality so you can incorporate asset holdings into financial assessments and achieve a more complete, up-to-the-minute view of your overall financial status.
Key Features
- Easy & Customizable Asset Tracking: Define and track assets by description, location, or number, add additional custom fields, and set default views. Create and manage an unlimited number of books of assets.
- Powerful Resporting & Analysis: Determine the level of detail you need in your fixed asset reports and define whether assets appear as a single entity or a set of components. Generate simulation reports to show how the book value and depreciation will develop over time.
- Customizable Depreciation Methods: Implement a depreciation method tailored to your accounting or legal requirements. Use standard depreciation methods such as straight-line, declining balance, and accelerated depreciation or define your required depreciation conditions, including the frequency of depreciation. Set up an unlimited number of depreciation books for taxes or other purposes without affecting your general ledger.
- Maintenance Cost Monitoring: Know what your assets cost you. Record routine maintenance and service performed on your assets, and monitor the cost of insurance coverage, including annual premiums. Use this data to make critical decisions about whether to renew assets and how to allocate them to specific insurance policies.
- Asset Manipulation: Reclassify part or all of a fixed asset. Separate asset components, recombine them as needed, or consolidate several assets into one. Dispose of part of a fixed asset instead of the entire asset.
- Integrated Data: Fixed Assets data integrates with General Ledger and with Payables and Receivables to give you a real-time, accurate overview of your financial status, including your book value and accumulated depreciation, without manual updates. Specify how to allocate depreciation (gain or loss) to different general ledger accounts.
- Asset Review & Analysis: View and analyze all the information defined for a fixed asset, including asset account, lease, insurance, or user-defined data, from one intuitive, user-friendly screen. Then drill down to review specific transactions, such as service performance, in more detail.
- Barcoding Tracking: Barcoding allows you to inventory your fixed assets quickly and accurately. Once the barcode tags are in place, keeping the inventory up-to-date is painless. No more printouts and paper forms. Just scan and upload to keep on top of all your assets.
- Integration with Microsoft Office System Programs: Work more productively than before when you can easily export and analyze asset data into familiar applications such as Microsoft Office Excel or Microsoft Office Word
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