Product Documentation

Financial Accounting Setup

Mon, 01 Jan 0001 00:00:00 +0000

General

Click to enlarge

Dimensions

Click to enlarge

Background posting

Click to enlarge

Reporting

Click to enlarge

Settlement

Click to enlarge

Company Structure for Go-Live

Mon, 01 Jan 0001 00:00:00 +0000

Companies

According to your company structure

Languages

German and English language layers are stored by default. If required, further languages can be added.

Intercompany

For companies that manage more than one legal business unit and several companies within the program, intercompany relationships can be set up. This enables the document and transaction flow to take place without interruption.

Master data company

A master data company is used for centralized master data creation as well as cross-company evaluations. In the master data company, shared master data is managed and the supply of data across company boundaries is set up. Furthermore, the master data can be maintained decentrally, as can its visibility in the master data company.

Currencies

Mon, 01 Jan 0001 00:00:00 +0000

There is one company currency (LCY) as well as any number of foreign currencies (FCY) with exchange rates. These can be stored for vendors and customers.

Rates

The daily rates can be imported automatically from the ECB. This functionality is included in the Continia OPplus supplemental module.

Multi-currency capability

The system can display multi-currency activities in financial reports. Existing reports can also be converted into a reporting currency.

Management of international receivables and liabilities

A default currency (foreign currency) can be specified for customers and suppliers.

General Ledger Accounting

Mon, 01 Jan 0001 00:00:00 +0000

The chart of accounts forms the basis for general ledger accounting. In the chart of accounts, movements from all business transactions are arranged by subject. Based on the chart of accounts framework, the basic evaluations, such as the balance sheet and profit and loss statement, are defined and provided in account schedules.

Chart of accounts

The chart of accounts is set up in consultation with the customer. The structuring of general ledger accounts can be chosen freely. The general ledger account numbers can be alphanumeric with a maximum of 20 characters. An account type can be used to further structure or group the chart of accounts in order to define account areas more quickly for evaluations. Through master data management, consistency of the chart of accounts can be established across defined companies if several companies have the same chart of accounts.

Basic Accounting Setup According to SKR 03 and SKR 04

Mon, 01 Jan 0001 00:00:00 +0000

Accounting is set up in Microsoft Dynamics 365 Business Central in accordance with the standard chart of accounts SKR 03 or SKR 04 (DATEV). This includes the chart of accounts, the posting matrix, VAT posting matrix, the account schedule line for the VAT advance return, and schemes for the balance sheet and profit and loss statement according to HGB.

The basic setup covers standard trading scenarios. Extensions are possible at any time later.

Accounts Payable

Mon, 01 Jan 0001 00:00:00 +0000

The payables subledger is also the vendor master in purchasing. In addition to vendors, there are further payable accounts for the procurement of services that are not goods. Nevertheless, all vendors are managed in a single table. The integration of payables into the general ledger (trade payables) is carried out via posting groups that can be defined freely.

Vendor posting groups

The vendor posting group links vendors with liability, cash discount, invoice, and application rounding accounts as well as interest and fee accounts. Assuming that business and product posting groups are used, this posting group essentially stores the corresponding general ledger account for liabilities.

Accounts Receivable

Mon, 01 Jan 0001 00:00:00 +0000

The receivables subledger in Microsoft Dynamics 365 Business Central is also the customer master in sales. In addition to customers, there are further receivable accounts for the sale of services that are not goods. The integration of receivables into the general ledger (trade receivables) is carried out via posting groups that can be defined freely.

Customer posting groups

Analogous to the vendor posting group, the customer posting group links customers with receivables, cash discount, invoice, invoice rounding, and application rounding accounts as well as interest and fee accounts. The structure of the customer posting groups must be based on the structure of the respective balance sheet accounts in order to control them correctly through the account cards.

Payment Management and Banking

Mon, 01 Jan 0001 00:00:00 +0000

The processes in payment management describe the system-relevant procedures for the automated posting of incoming and outgoing payment flows. The basis for controlling payment management is the “bank accounts” and the “payment methods”.

Payment methods

Payment methods can be bank, cash, or similar. A general ledger account or bank account can be stored on them, as well as a default payment type such as SEPA.

Banks

Banks are managed as a subledger whose postings are transferred automatically to the general ledger. The corresponding import and export processes are controlled via the settings on a bank account. Data communication (import/export) is mapped with the help of a banking program. This program imports the data for outgoing payment management (SEPA) and provides the bank statements (CAMT53) for further processing.

Fixed Assets

Mon, 01 Jan 0001 00:00:00 +0000

The fixed assets module provides an overview of created, purchased, and sold fixed assets. Planned assets can also be created. The assets can be divided into different groups, for example by classes, cost centers, or locations. Assignment to cost centers can also be done as a percentage for an asset group. This makes it possible to include planned depreciation and sales in reports. Several assets can be combined into one main asset or split back into individual assets. This is necessary when only parts of the asset are to be sold.

Inventory Accounting

Mon, 01 Jan 0001 00:00:00 +0000

Inventory valuation in merchandise management can also be used without integration into financial accounting. It is integrated into financial accounting with the help of posting groups.

Inventory posting groups

The inventory posting group links items in connection with the addressed location to general ledger accounts of inventory assets and production accounts. The structure of the inventory posting groups must be aligned with the structure of the balance sheet accounts in the area of inventory assets in order to control them correctly through the items.

Cash Flow Liquidity Planning

Mon, 01 Jan 0001 00:00:00 +0000

The cash flow forecast is a module integrated into Microsoft Dynamics 365 Business Central. In order to use it, a number of setups must be made, in particular the cash flow chart of accounts (which is conceptually similar to a cash flow statement) and neutral cash inflows as well as neutral cash outflows. In setup, the cash flow chart of accounts is linked with the origin of the payment flows. The cash flow forecast can be evaluated graphically over time, as an account schedule, or directly in the cash flow chart of accounts.

Budgets in Financial Accounting

Mon, 01 Jan 0001 00:00:00 +0000

Standard financial accounting budgets

The budget function in Microsoft Dynamics 365 Business Central offers the following options:

Create multiple budgets for identical periods using different names
Create simple or complex budgets by selecting a combination of general ledger account, period, two global dimensions, and four budget dimensions
Copy budgets from previous periods and review budget figures using a correction factor
Export/import budgets to/from Excel

Meta process LBP - General ledger budget plan

The process includes planning the total budget to maintain or achieve liquidity and the overview of costs or revenues.

Year-End Closing

Mon, 01 Jan 0001 00:00:00 +0000

Tax settlement

Individual

Consolidation

If required, there is an option to consolidate companies in the program. The companies can originate from the same database or also from several different Microsoft Dynamics databases or files. Financial data can be imported and exported. If financial data from several different Microsoft Dynamics applications is to be consolidated, only the functionality in the actual consolidation company is used.

Provisions

In order to mark provision postings in the system so that they can be evaluated in a provisions report, a separate shortcut dimension can be added during posting. The evaluation is carried out directly on general ledger entry level or via account schedules and analysis views.

Regulatory Reporting

Mon, 01 Jan 0001 00:00:00 +0000

GDPdU

GDPdU refers to the export of financial accounting data for the purpose of audits by tax authorities. Setup takes place upon the first request for the data by a tax authority, because only then can it be decided in which format the data must be provided (NISA, TAX-AUDIT).

E-balance sheet

The setup and assignment of accounts to the current taxonomy can be carried out. A compliant breakdown of the accounts is required; consolidations into a taxonomy position are possible.

Interfaces

Mon, 01 Jan 0001 00:00:00 +0000

Interfaces

External payroll accounting
Merchandise management system
POS system
Consolidation software
Tax advisor
Data management system
Factoring
Credit insurance/credit rating checks
Web shop
Advice import: in the bank reconciliation module, any import interfaces for advices and payment instruments can be configured. The effort per interface is approximately 1 day.

Supplementary Modules for Financial Accounting

Mon, 01 Jan 0001 00:00:00 +0000

By default, Be-terna GmbH uses the base module and payment management from Continia OPplus for customers, since these extend the functional scope of Microsoft Dynamics 365 Business Central in a useful and practical way. In addition, there are a number of convenience modules that simplify handling, as well as modules that extend the functionality of the program. The modules are briefly presented below.

Continia OPplus Payment Import

The base module is divided into the following areas:

Sustainability Management

Mon, 01 Jan 0001 00:00:00 +0000

Business Central offers a sustainability management feature that allows you to monitor and manage your organization and its impact on the environment. This feature is used to monitor and regulate an organization’s ecological footprint by tracking various greenhouse gas emissions (GHG).

In this way, correct insights are obtained. The function supports the basic process of capturing emission data via sustainability journals or purchase documents as well as recalculating emissions into CO2 equivalents.