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Microsoft Dynamics 365 Enterprise Edition - Financial Management

You're reading from   Microsoft Dynamics 365 Enterprise Edition - Financial Management Maximize your business productivity through modern financial management in Dynamics 365

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Product type Paperback
Published in Mar 2018
Publisher Packt
ISBN-13 9781788839297
Length 562 pages
Edition 3rd Edition
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Author (1):
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Mohamed Aamer Ala El Din Mohamed Aamer Ala El Din
Author Profile Icon Mohamed Aamer Ala El Din
Mohamed Aamer Ala El Din
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Table of Contents (18) Chapters Close

Preface 1. Getting Started with Microsoft Dynamics 365 for Finance and Operations 2. Understanding the General Ledger FREE CHAPTER 3. Exploring Financial Dimensions 4. Understanding Sales Tax 5. Working with Currencies 6. Understanding Accounts Payable Basics and Controls 7. Exploring Accounts Payable Transactions 8. Understanding Accounts Receivable 9. Understanding Cash and Bank Management 10. Functioning of Cash Flow Management 11. Exploring Budgeting 12. Working with Intercompany Accounting 13. Working with Consolidation and Elimination 14. Working with Cost Management 15. Exploring Fixed Assets 16. Exploring Financial Reporting and Analysis 17. Other Books You May Enjoy

Understanding ERP characteristics

ERP is a mission-critical application for business, as day-to-day activities rely on this application where the end users enter transactions and the management is able to monitor the business performance on a daily basis and take decisions within a proper time period. The ERP application has different characteristics from any other application, and these characteristics are mentioned in the Wikipedia definition:

"A business management software-usually a suite of integrated applications-that a company can use to collect, store, manage, and interpret data from many business activities."

From this definition, ERP is an integrated application. In the past, each business area had its own application, and this led to the creation of isolated islands for each department in the same organization; these cost the organization time, effort, and money. This led to a lack of accurate information, which directly affects management decision making, because of the unavailability or redundancy of information; for example, a customer account in accounts receivable (Finance department) is different from a customer code in the Sales department, so the management can't identify the customer's  balance. With ERP, the data is unified, controlled, and classified. This gives the company the ability to transform this data into information that helps in the decision-making process. In the modern world, the deployment of ERP has been moved to the cloud as a reaction to rapid customer business needs; the cloud provides the opportunity for business to respond to business scalability, reliability, and agility. The ERP application has taken its position in cloud technology, and we are witnessing an evolving revolution, and we contributing to it.

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