Implementing Business Central is a strong business decision for many businesses and use cases, packed as it is with features to help you plan for the future, lock down your security, and report on your data comprehensively.

However, it’s not just the ERP that makes Business Central a strong business decision. Having a proactive partner who is advocating for you is going to take your use of Business Central to a new, innovative level.

Business Central’s Chart of Accounts shows you all the ledger accounts storing your financial data. It can also be a behemoth to navigate, making the ability to filter on different values to find exactly what you’re looking for all the more valuable for your accounting practices. And there’s one type of filter that is common to overlook that we’d like to dig into—the “Filter totals by” function.

Many organizations’ fiscal year-end doesn’t match up with the calendar year-end. In fact, June 30 is a pretty common fiscal year-end. So if you’re in this boat, here’s your closing procedures refresher for Business Central/NAV, plus a handful of useful resources to get you started on your close.

In April 2021, Microsoft made generally available the ability to correct dimensions for general ledger entries. The goal of this shift is to allow your financial reporting to provide you with the most accurate insight possible, and this means not having to account or note data entry errors. Because, let’s face it: mistakes happen! But your financial reporting shouldn’t need to be negatively impacted as a result.

If you manually track deferred revenue or expenses, you know how timely and tedious it can be to balance these items on various spreadsheets before bringing those entries into your accounting system. Although not difficult, it requires you to manage things outside your system—like an Excel spreadsheet that you have to keep up with and post a recurring entry for each month. Luckily, Business Central has a solution that simplifies this. If you set up a deferral template, you can use it to defer revenue or expense over a set period of time. When you set up this deferral and post it, the monthly lines will be posted and booked automatically with no need for tracking or balancing. You can also check in on the deferrals with reports to ensure the process went through correctly.

1099s must be sent out by the last day of January, and if you need a refresher or first-time walkthrough for editing and generating 1099s in Business Central, we’re here to help.

We’re starting the new year off with an ongoing roster of exciting webinar offerings to help anyone using Business Central or Dynamics NAV optimize their system functionality by adding extensions, or add-ons, to their already established Business Central. If you use Business Central and have thought, “Oh, I wish the system did this,” then stick around for our monthly add-on spotlight webinars. First up this year: Multi-Entity Management with Binary Stream!

Delayed payment processing, high processing costs, frequent manual processing errors: Does this describe your accounts receivables (AR) pain points right now? If so, you’re not alone. ERP users may face these troubles if their payments solution is not integrated. Managing the order-to-cash cycle can be easier, and you can banish those pain points with Versapay.

ADP will be joining the Syvantis team to discuss their HCM Business Central integration, ADP Workforce Now®. Come check out their solution, ask all your questions, and see if ADP is a fit for your organization!

Wednesday, September 28 @ 11:00 AM (CT).

Next up in our Business Central Add-on Spotlight series is Nodus, who specialize in secure payment processing and accounts receivable automation specifically for the Microsoft Dynamics space. Join this collaborative webinar to learn more about Nodus’ solutions, watch a demo, and ask Nodus reps all your questions.

Business Central is a leading mid-market solution for businesses of all sizes that want their financial management software to do more for them – more automation, more collaboration between teams, more connected processes, and more insight into real-time data to make better decisions.

Simplifying financial routines is one of the biggest draws of an ERP, and Business Central comes fully featured with plenty of time-saving tools and modern additions that any team will appreciate.

Dynamics 365 Business Central hosts a fleet of business intelligence tools that can manage, track, and analyze company data more easily. Users can generate reports and easily share critical documents and data with others, and Business Central users can maximize the power of their data by utilizing dimensions when tracking data entries in accounts or documents.

Our Business Central Add-on Spotlight Webinar Series features ISVs that offer powerful add-ons that can extend your day-to-day ERP capabilities—at a cost much lower than adding a new application to your business tech stack. We’ll cover add-ons for AP automation, eCommerce, HR, Payroll, WMS, EDI, Distribution, Manufacturing, dimension management, AR, and more throughout this series.

Join Syvantis for a webinar! We’re excited to offer demos of two specific tools that will give you back hours in your workday and cut manual data entry out of your routine.

Let’s imagine this scenario together: You’re searching for your first or your next ERP solution for your business, but you’re worried about a few things. First and foremost, you will likely consider functionality and budget – what will this cost, does it have what I need, and will it pay off?

After you’ve found a viable ERP—say Microsoft Dynamics 365 Business Central—you move on to other concerns, like the dreaded how long will this take?

When you integrate an ERP such as Dynamics 365 Business Central, you get essential functionality and features out-of-the-box. But if you stop there, you’d miss out on opportunities to make your system work harder for you. Depending on your industry and specialty, you want to take advantage of add-ons, extensions, and ISVs that can take the already powerful ERP functionalities to the next level and more specifically geared to your needs.

Positive Pay and Continia are tools you can use to extend Business Central, not just to add functionality, but to keep your business safe and running smoothly.

One way to crack down on potential digital payment and check fraud is by implementing Positive Pay, a fraud protection service offered and used by many banks, which can be considered an automated second set of eyes that monitors checks and payments and flags things that may cause concern. So, how exactly does Positive Pay work, and why should you implement it?

Dynamics 365 Business Central utilizes a browser-based modern interface for all users to conduct their ERP processes in. With this modern interface comes personalization features for each user to update the interface to match their preferences and help them get their job done faster.

One such personalization feature that can make any job in Business Central easier is custom notifications. For example, an inventory manager can apply a notification to run when a specific item or item category is running low on availability.

Many organizations support multiple companies and will also often have users that process data, documents, and other tasks from multiple companies within the organization. While these companies are part of the larger organization, they still need to process and track their individual financial and operations data. Dynamics 365 Business Central allows multiple environments and companies to be set up and has tools to assist users in more easily managing work across them.

Keyboard shortcuts are important tools for many ERP system users that spend their days entering data and navigating around the system. With Dynamics 365 Business Central, Microsoft has included a comprehensive list of keyboard shortcuts to make actions and navigation easier within the application. The shortcuts discussed below are mostly the same between Windows and macOS, however if a shortcut doesn’t work on macOS, there may be an alternative shortcut listed in Microsoft’s official documentation.

Dynamics 365 Business Central makes use of a feature called Business Intelligence to assist end-users in data analysis and reporting. This works largely with the help of dimensions. Dimensions in Business Central are custom attributes that can be assigned to a variety of different entry records. These dimensions can then be grouped by similarities such as a region or product and with reporting via account schedules.

If you are new to Dynamics 365 for Finance and Operations (Operations), there are several small setup changes that will make your inventory related transaction entry easier if you can find where to set them up. One of these is the setup for default sites and warehouses.

At the end of the month you not only need to be able to calculate the sales tax due to each state in which you have jurisdiction, but you also need to enter an invoice and/or payment for the transaction. In Dynamics 365 for Finance and Operations, you can do both in one process by settling your sales tax.

Did you know that forms are customizable in Dynamics 365 for Finance and Operations? When viewing a list or form you can add, remove, and edit columns. You are also able to easily reset, share, or import form settings. I have outlined these options below.

When attempting to change the Tracking Dimension Group for a Product in Dynamics 365 Operations (AX2012), you may receive the following notification:

“Delete the tracking dimension group for the product, and then delete the tracking dimension group for all released instances of the product.”

In the example below, while changing the tracking dimension group from DEFAULT to SERIAL for a product, this notification appeared:

“How do you know your company needs a new accounting system?” The answer is simple: If you use spreadsheets to support your accounting function or to report financial results, you have the wrong accounting system. If you have the right accounting system, the system will perform nearly all of your bookkeeping, reporting, and data management without the need for spreadsheets.

I frequently get calls from accountants (or IT guys) that are tasked with finding a new accounting system for their company. I am always very sympathetic with these poor souls, because the assignment is many times an virtually an off the cuff request: “By the way, will you please look around and get me a list of all of the accounting systems that we should consider and perhaps a recommendation for the best one?” This is not a simple request. The average accounting system runs a company’s operations and financials for 10 years. Selecting the right accounting software is a complex, business-critical assignment that requires careful thought and planning.