Does your Chart of Accounts look like this:
8060-10-20-01; 8060-10-20-02; 8060-10-20-03
How many times a month do you answer the question: “How do I code this?”
Do you spend many hours a month reconciling and reclassifying accounts; Hours that you can spend managing your financial data, as opposed to fixing data?
If you answered “Yes” to any of these questions, then we have the answer for you. The Dimensions feature in Microsoft Dynamics NAV, formerly Microsoft Business Solutions’ Navision, helps you answer questions about your business. By combining the analysis of different dimensions, you can get a better understanding of how well your business is operating, where it’s going and where it needs help. The Dimensions feature allows for:
- Shorter Chart of Accounts
- Intuitive account coding for you and your staff
- Better control and accuracy
- Better visibility of your data
- Greater flexibility in your reporting
- More options, even after implementation
Dimensions allow you to attribute characteristics to the information you record and use in your daily work, giving you the power to ask searching questions about your business and act upon the answers.
You can seek more effective ways of doing business, develop your analytical tools in an easy way, and base important decisions on reliable information.
You can also use dimensions to allocate responsibility. By using dimensions on posted entries and budget entries, you have the ability to monitor how individual units (for example, a responsible department or region) are performing and to compare performance with other units (such as previous periods and budgeted amounts).
The possibilities for creating new dimensions and changing existing ones are endless. It’s easy to add new dimensions on the fly, and there’s no limit to the number of dimensions, or the number of values, that can belong to each dimension. You can further change existing dimensions to reflect your business processes.
This is just one of the Tips and Tricks you will learn, when you join me at Aspire!