FINANCIAL MANAGEMENT WITH MICROSOFT DYNAMICS 365 FOR OPERATIONS

Enterprise-grade Financial Management capability with the powerful Microsoft Dynamics 365 for Operations from Hitachi. Key functionality includes

GENERAL LEDGER

  • Flexible Chart of Accounts
  • Multi-dimensional account structure
  • Ability to share Chart of Accounts across different entities
  • Allocations Management
  • Periodic Journals

ACCOUNTS PAYABLE

  • Vendor Invoice Approvals
  • 3-way matching with PO and Goods Receipt
  • Payment Proposals and Check Runs
  • Ability to leverage cash discounts
  • EFT and Electronic payments
  • Vendor Checks
  • Positive Pay
  • Banking Integration

ACCOUNTS RECEIVABLE

  • Credit Limits
  • Customer Invoicing
  • Cash Application and Customer Payment
  • EFT and Electronic Payments
  • Customer Statement
  • Credit and Collections Management
  • Collection Letters and Dunning Letters
  • Interest Charges and Penalties

FIXED ASSETS

  • Fixed Asset Groups to categorize assets
  • Multiple depreciation methods including Straight line, Declining Balance
  • Automated depreciation calculation and posting to General Ledger
  • Write up, Write Down, Disposal, Asset Acquisition and Asset Addition Journals

CASH AND BANK MANAGEMENT

  • Multi-currency Bank Accounts
  • Treasury Management
  • Cash Forecasting
  • Bank Statement Import with support for MT940 and BAI2
  • Automated Bank Reconciliation
  • Matching Rules

FINANCIAL REPORTING

  • Pre-configured financial reports including Profit and Loss, Balance Sheet, Cash Flow
  • Dimensional reporting such as Profit and Loss by Business Unit
  • Single entity and multi-entity reporting
  • Currency Translation capability
  • Consolidated Reporting across multiple entities
For more information on financial capability with Microsoft Dynamics 365 for Operations please email us at info@hitachisolutions.com.

CREDIT AND COLLECTIONS MICROSOFT DYNAMICS 365 FOR OPERATIONS

OVERVIEW

Credit and collections enables enterprises to lower their days sales outstanding (DSO) and reduce credit risk. This provides support for key processes such as managing credit, delinquencies, disputes, write-offs, and organizing the interactions between the collection agents and customers through collection cases. Credit management enables uses to set credit policies, credit ratings and manage customer holds.

Credit and Collections Microsoft Dynamics 365 for Operations
CREDIT AND COLLECTIONS WORKSPACE

At the heart of the solution is a credit and collections workspace which provides visibility into key metrics such as open cases, activities, and customers over their credit limit. Charts provide visibility into aged balances and amounts such as promise to pay and disputed amounts. Information can be filtered to a specific company, customer pool, or customer. Analytics are embedded providing actionable data right inside the workspace. There are two overview pages, one for collections and another for credit. Eight supporting pages enable users to drill into additional detail. The embedded analytics is an invaluable tool for credit and collections managers which facilitates efficiency and drives down the DSO.

Credit and collections workspace
Credit and collections workspace

COLLECTIONS DETAILS

The collection details form is a hub for drilling into details associated with customers in collections. Here a credit and collections agent can communicate and document interactions with customers and internal team members. The collections details form facilitates cross company collections with insight into active cases, transactions, activities, collection history and a wealth of other information. This form pulls together data from several forms, inquiries and reports throughout the system, centralizing the collections experience. Actions ranging from calculating interest to generating statements call all be performed in this single view.

Collections details

CASE MANAGEMENT

  • Collection cases can be opened to track transactions and activities in collections promoting efficiency for collection agents.
  • Collection cases are multi-company enabled, which allows collection agents to work cases across multiple companies and reduce the inefficiency of logging in and out of companies.
  • Collection cases can be linked to activities and transactions.

COLLECTION HISTORY

  • A comprehensive view of collection history is provided for a given customer or transaction.
  • See collection agent notes as well as system generated document status and balance changes.

PROMISE TO PAY

  • Set collection status per transaction such as disputed or promise to pay.
  • The system will automatically change collection statuses based on activity or inactivity on an account.
    • Promise to Pay → Promise to pay kept
    • Promise to Pay → Promise to pay broken

WRITE-OFF

  • Easily write-off a document or customer balance.
  • When writing off a customer balance or document, a reason is assigned by the collections agent. Reasons are associated to specific general ledger accounts. This eliminates the need for collection agents to have a detailed understanding of the accounting and minimizes period-end adjustments.

BUDGETING AND FINANCIAL PLANNING WITH MICROSOFT DYNAMICS 365 FOR OPERATIONS ERP

Microsoft Dynamics 365 for Finance and Operations provides native budgeting and financial planning functionality which removes the need to use a 3rd party system that most ERP systems require.

Key functionality includes:

  • Budgeting by Financial Dimension: Ability to budget by financial cost elements such as General Ledger Account and Financial Dimensions such as Department, Division, Cost Center.
  • Budget Development: Ability to develop budgets using actuals of a historical/current year, budget of a historical/current year.
  • Excel Integration: Ability to distribute excel templates and modify and publish budgets from excel without the need for import and exports using the Excel add-in for Microsoft Dynamics.
  • Budget Revisions: Ability to do budget adjustments, transfers with approval workflows as needed.
  • Budget Control: Automatically control spending within the budget by preventing transactions from happening that would exceed the budget amounts set for the relevant combination of financial elements.
  • Budget to Actual Reporting: Management Reporting for Budget, Actual and Forecast.

Budgets can exist at multiple levels and can feed into a financial budget which is known as a Ledger budget in Microsoft Dynamics 365 for Operations. Key budgets available are:

  • Workforce budgets – Workforce budgeting includes detailed budget cost component planning for positions, compensation groups, etc.
  • Fixed assets budgets – Based on fixed asset information, you can calculate planned depreciation and record other planned transactions that are related to fixed assets.
  • Project budgets– In the projects module, you can create detailed project forecasts. The projects forecasts will include details about the planned hours, expenses, fees, and items.
  • Demand forecasting– Based on historical transaction data, you can estimate future demand and create sales forecasts.

Dynamics 365 provides for workforce budgets, project budgets, fixed asset budgets, demand forecasts which can all feed into a ledger budget

Budgets can be consolidated e.g. via a department roll-up into a top level budget as shown below. Also, workflows can be setup to go through a submit, review, and approve process.

 

Budgeting in Dynamics 365 can be managed through workflows and budget policies

 

Budget Analysis functionality in Dynamics 365 provides functionality to review not just budget to actuals but also budget revisions, encumbrances, pre-encumbrances, and the variance.

 

Budget Analysis functionality in Microsoft Dynamics provides comparison of Original Budget, Revised Budget, Actual expenditure, and factors in encumbrances to provide budget to actual analysis.

For more information about deploying Budgeting and Financial Planning functionality with Microsoft Dynamics 365 for Operations please email us at info@hitachisolutions.com.
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