Walkthrough: Making Cash Flow Forecasts by Using Account Schedules
Monitor the flow of cash in and out of your business.įollow an end-to-end procedure on how to use account schedules to make cash flow forecasts. Manually convert service contracts to change their VAT rate.Ĭonvert Service Contracts that Include VAT Amounts Prepare a report that lists VAT from sales, and submit the report to tax authorities in the EU. Use functions to calculate value-added tax (VAT) on sales and purchase transactions so that you can report the amounts to the tax authorities. Import salary transactions from your payroll provider into the general ledger.
Learn how to use additional currencies and update currency exchange rates automatically. Learn about the available options to automate sending subscription invoices to your customers and register recurring revenue.
Recognize revenues and expenses in other periods than when the transactions were posted.
Post employees' personal expenses for business-related activities and reimburse employees by making payment to their bank account. Use Item Charges to Account for Additional Trade Costs Reverse Journal Postings and Undo Receipts/ShipmentsĪllocate an entry in a general journal to several different accounts when you post the journal.Īssign extra costs, such as freight and physical handling that you incur during trade, to the involved items so that the cost is reflected in inventory valuation. Post reversing entries to undo value postings in the general journal or quantity postings on purchase and sales documents. Post Transactions Directly to the General Ledger Record income or expenses directly in the general ledger without posting dedicated business documents. Understanding the General Ledger and the COAĬombine general ledger entries from multiple companies in one virtual consolidated company for financial analysis.Ĭonsolidating Financial Data from Multiple CompaniesĪdd dimensions for richer business intelligence.Ĭreate G/L budgets to forecast different financial activities and assign dimensions for business intelligence purposes. Understand the general ledger and the chart of accounts. Manage inventory and manufacturing costs, report costs, and reconcile costs with the general ledger. Set up intercompany partners and process transactions, manually or automatically, between legal entities within the same company.Īnalyze the costs of running your business by allocating actual and budgeted costs of operations, departments, products, and projects to cost centers. Reconcile bank accounts and transfer funds between bank accounts. Make your customers submit payment before you ship to them, or submit payment to your vendors before they ship to you. Make payments, apply outgoing payments, and work with checks. ToĪpply incoming payments, reconcile bank accounts during payment application, and collect outstanding balances. The following table describes a sequence of tasks, with links to the topics that describe them. The default configuration includes a chart of accounts and standard posting groups that make the process of assigning default general ledger posting accounts to customers, vendors, and items more efficient.
For more information, see Setting Up Finance. Business Central includes a standard configuration of most financial processes, but you can change the configuration to suit your business.