Tired of asking IT to create you a new financial report? Frustrated by the reports coming back and still being not quite right? Constantly reverting to spreadsheets, lists of raw data, pivot tables and complex lookup formulas to produce your management reports? Let Microsoft Dynamics 365 Financial Reports help your finance team do what they should be doing. Spending time analysing data, rather than creating it.
WHAT MICROSOFT DYNAMICS 365 CAN DO FOR YOU
Financial Reports is a tool which empowers finance users to create, maintain, and deploy financial statements and reports, such as balance sheets, income statements and the trial balance. Containing 22 default reports, with the correct ledger setup in the D365 system, the reports can be used out of the box but can also be easily modified to suit your company’s reporting requirements. Offering support for regulatory compliance with International Financial Reporting Standards (IFRS), Generally Accepted Accounting Practices (GAAP) and Sarbanes-Oxley regulations, let Financial Reports be your reporting tool of choice.
This flexible report writing tool works by users creating a set of columns, a set of rows, and reporting hierarchies and groups, which can be combined to create an unlimited number of reports with the same base framework. Analysis and drill down into each segment enables a single report to run for each department for example, or consolidated by company.
For group companies with multiple subsidiaries that might transact in different base currencies, consolidation and recognising consolidation differences can often be a struggle and increase your month end turnaround time. With D365 key data tables such as chart of accounts, accounting segments, currency exchange rates and financial calendars can be shared, meaning each subsidiary can use the same set of data, minimising consolidation time. Intercompany trading setup allows you to automatically create and match intercompany purchase orders to sales orders in both subsidiaries all using the same transfer prices, quantities, charges, currency codes and exchange rates, whilst keeping both intercompany debtors/creditors in sync.
What’s best of all is this GL information feeds directly into Financial Reports without the need for multiple databases and spreadsheets. Financial Reports then uses a flexible approach to consolidation. By creating your organisation and department structure as reporting hierarchies you can drill down from group, to company and then further down to company departments from a single report at the click of a button. it's time to make financial report writing a finance function again.
Discover how you can optimise your financial management with Microsoft Dynamics 365 and HSO. Contact our experts today to discuss your options.