Why Choose Microsoft Dynamics NAV (Navision)?

There are many good choices for Enterprise Resource Planning solutions in the marketplace.  What makes one solution a better fit for your organization than another?

When evaluating software, first consider what is important to your organization.  Each solution includes hundreds of features.  You may also find that many of these features are practically identical between solutions.

Keep your focus on what is critical or unique about your requirements.  Then evaluate software options with this in mind.

Consider some of the key benefits of Microsoft Dynamics NAV (Navision) that you may not find in competing software packages.

• User Personalization
• Dimensions
• Multi-currency
• Consolidations
• Inter-company

User Personalization in Microsoft Dynamics NAV (Navision)  

Microsoft Dynamics NAV offers many options for user interface personalization and they do not require any custom development effort.  Ÿ

• Customize menu options for a user ‘s role (the user will only see the menu options specific to their job responsibilities).Ÿ
• Add or remove options in the Action Pane (the tasks that can be performed when adding records, processing transactions, or running reports). Ÿ
• Add or remove FastTabs (the data areas regarding a record such as Invoicing, Payment, Shipping, and Foreign Trade details). Ÿ
• Add or remove FactBoxes (the additional information about a record such as Customer Sales History or other Statistics). Ÿ
• Re-order and re-size columns in list views (the order and size of columns for records such as viewing Customer Name, Address, Phone Number in a customer list). Ÿ
• Save queries or filters (the ability to save and recall a query such as Customers associated to a particular Salesperson). Ÿ
• Add Links to other sites or documents (the ability to link to a website or a document address such as a signed contract for a Customer).

The Concept of Dimensions in Microsoft Dynamics NAV 

An aspect of Microsoft Dynamics NAV that is unique is that it utilizes a Dimensional style chart of accounts.

This provides more flexibility than a structured chart of accounts.

You first determine the main or “Natural” account that defines what type of data is entered to the account (for example account 65100 to represent travel expenses).

You can then define unlimited “Dimensions” to record further breakdown such as Branch, Department, or Type of travel.  However, you do not need to enter every Dimension for every transaction.

This enables a very clean Chart of Account listing while supporting advanced analysis on Dimension values.

A Dimension can even have a hierarchy within it to provide for sub-totalling. Microsoft Dynamics NAV also provides structure and rules around Dimensions.

You can select Default Dimension Values that will be applied whenever you enter a transaction for a particular Customer, Vendor, or Item.  You can indicate whether a Dimension is required or optional.

You even have the ability to re-number your existing Chart of Accounts or Dimension Values without losing any of the history already posted.

Multi-currency in Microsoft Dynamics NAV

Microsoft Dynamics NAV also includes robust multi-currency features.

Unlimited currencies can be setup and maintained.

Both realized and unrealized gain/loss transactions may be easily processed.   Each company has a local (functional) currency.

Unlimited originating currencies can be utilized for transactions.  Exchange rates can be updated on a periodic basis or overridden at the time a transaction is entered.

Triangulation of currencies is also supported.

When foreign currency transactions are settled (A/R is collected or A/P is paid) a realized gain/loss transaction is posted.

At month end, the exchange rate adjustment process is run to record the unrealized gain/loss for a foreign currency within the Bank Account, Accounts Payable, and Accounts Receivable sub-ledgers.

This accommodates transactions that have not been settled by month end.

Consolidations in Microsoft Dynamics NAV  

Further, Microsoft Dynamics NAV provides easy company consolidation functionality.

You can easily produce month end consolidated financial statements by exporting data from subsidiary companies and importing the data into the parent company.

The consolidation calculations take into account:   Ÿ

• Functional currency of subsidiary and parent companies Ÿ
• Translation method assigned to the GL account Ÿ
• Exchange rates for consolidation Ÿ
• Mapping of GL accounts and Dimensions Ÿ
• Percentage of ownership the parent has in the subsidiary company Ÿ
• Fiscal year end dates for subsidiary and parent Ÿ
• Whether the companies exist within one or more Dynamics NAV databases

Intercompany  in Microsoft Dynamics NAV  

Finally, Microsoft Dynamics NAV provides robust Intercompany features that simplify transaction processing between related companies while providing an audit trail.

Entries that are posted in one company are made available for posting in the related company.

Mapping functionality is provided for companies, charts of accounts, and dimensions which means the setup of related companies does not have to be identical. Many ERP systems only support creation of a general journal in the destination company.

Microsoft Dynamics NAV takes this functionality further by enabling processing of documents between companies.

Supported entries include: Ÿ

• General Journal entries Ÿ
• Purchase and sales orders Ÿ
• Purchase and sales invoices Ÿ
• Credit memos Ÿ
• Return orders

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