Five tips for managing your business’s finances effectively

Financial planning and management is critical for small- to mid-sized businesses (SMBs) because at their scale of operations, every drop of resource cannot and should not go to waste.

Daunting as it may seem, managing business finances isn’t complex — it boils down to having a coherent system in place, as well as having ample preparation for certain scenarios and activities.

Approval workflows in Business Central

Microsoft Dynamics 365 Business Central (BC), offers a feature many of its competitors struggle with — a user-centered automatable workflow tool. This feature, which is powered by Microsoft’s AI developments, frees up your staff from dealing with menial inputs so that they can focus on delivering their best work.

Managing the Chart of Accounts on Business Central

The Chart of Accounts (COA) on Business Central (BC) is where your company’s general ledger (G/L) accounts are set up and where all the financial results of your business’s transactions are posted. In many ways, it’s like a main financial master record, which is why it’s always a good idea to set it up simply and coherently.

Business Central pricing versus the competition’s

For many small- to medium-sized businesses (SMBs), every dollar counts. Operations teams need planning and management systems to optimize processes, but these systems shouldn’t be cost-prohibitive either. With every dollar on the line, it is important to understand how Business Central enterprise resource planning (ERP) costs measure up against competitor prices.

Sign up & Stay Connected! Receive Latest Blog Posts | Best Practices | Product UpdatesSubscribe Today