Account Categories in Microsoft Dynamics NAV 2017

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Microsoft’s continued commitment and development of Enterprise Resource Planning Systems (ERP) has resulted in the release of Microsoft Dynamics NAV 2017. Dynamics NAV is a robust business solution from Microsoft that continues to be enhanced which is quick to implement, easy to use and has the power to support your business ambitions.  Key for Dynamics NAV 2017 is integration and simplicity.  Account Categories in Microsoft Dynamics NAV 2017 are part of the new ERP Financial Management features along with significant enhancements to the core application.

Account Categories in NAV 2017:

Reporting is also made easier with the new Account Categories that provide structure to your chart of accounts. You can use Account Categories to map your chart of accounts to a set of predefined categories. Easy to use and easy to understand, account categories support financial and in addition you can create categories to fit your business needs. Lastly, you can automatically update Account Schedules when you update your Account Category mapping.

Utilizing Account Categories in Microsoft Dynamics NAV can allow your company to:

Get Started Fast: Work with your financial reports immediately, with no set up required, using the default chart of accounts that is mapped to the categories

Understand Financial Information: Quickly recognize the categories that use terms such as assets, liabilities, and expenses. Account subcategories, such as cash, payroll liabilities, and advertising expenses, provide additional detail for your chart of accounts

Personalize: Modify the default set of categories, or create your own to meet your business needs

Use Financial Reports Quickly: Easily relate to your financial reports because account categories are used in the architecture of the balance sheet, income statement, cash flow statement, and retained earnings statement

Learn more about all of the Features in Microsoft Dynamics NAV 2017

Posted by iCepts Technology Group, Inc.  A Microsoft Dynamics NAV and 365 Partner in Pennsylvania.

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