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BC Financials VS Third Party Financials

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Posted on by JGarcia123 1,532
Quick question for the forum.  How many use the financials within BC and how many use a third party tool for reporting?  For example Solver, Cosmos, or Power BI.
 
Second Question:  If using a third party tool to build financials do those tools utilize the Heading, Begin-Total, End_Total, and Total account types?
 
JG
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    YUN ZHU Profile Picture
    YUN ZHU 71,232 Super User 2024 Season 2 on at
    BC Financials VS Third Party Financials
    I personally recommend using BC Financials.
    If you use third-party tools, only standard APIs are available. If you use Web Services, there will not be optimal performance and customization may be required.
    And third parties are also related to additional license fees.
    Starting from BC22, Microsoft also released In-client Analysis mode.
    Business Central 2023 wave 1 (BC22): Analyze, group, and pivot data on list pages using multiple tabs (In-client Analysis mode)
     
    In addition to standard reports, Microsoft also prepares reports in Excel Layout.
    For example, Business Central 2024 wave 2 (BC25): Use Excel reports for consolidation and fixed assets
     
     
    Just a personal thought. Hope this can give you some hints.
    Thanks.
    ZHU
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    Valentin Castravet Profile Picture
    Valentin Castravet 23,440 Super User 2024 Season 2 on at
    BC Financials VS Third Party Financials
    This is one of those things that is more dependent on your requirements, rather than looking at what other companies are doing. If your requirements are relatively straightforward, the Financial Reporting module in the system should be sufficient. I would first try to see if it meets your needs. If it doesn't, then for more complex needs, however, you might consider third-party tools. Jet Reports is a popular choice for financial reporting, while Power BI is better suited for operational reporting. Yes, you can utilize the account type field with third party tools. 
     
  • Jun Wang Profile Picture
    Jun Wang 7,340 Super User 2024 Season 2 on at
    BC Financials VS Third Party Financials
    Depending on what types of reports you want to run. If you specify reporting requirements, experts could provide more tailored suggestions. 
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    gdrenteria Profile Picture
    gdrenteria 10,415 Most Valuable Professional on at
    BC Financials VS Third Party Financials
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    Andy Wingate Profile Picture
    Andy Wingate 316 on at
    BC Financials VS Third Party Financials
    Hello
     
    You have mentioned some of the main ones I've seen commonly used. Also to add to the list would be Jet Reports.
     
    In the next release wave there is a big push on reporting in BC with a whole raft of new "Finance Reports" the internal reports in BC and a big load of new Power BI reports. You should check those out as part of your review..
     
     
    There is a launch event for BC 2024 release wave 2 - next week - sign up then you will be able to get access to the session all about reporting..
     
     
    Hope that helps!
     
    Andy
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    Shauna Langley Profile Picture
    Shauna Langley 691 Super User 2024 Season 2 on at
    BC Financials VS Third Party Financials
    Hi,
     
    I know a lot of customers use the financial reports within Business Central to pull together their P&L or Balance Sheet for month end.  They are also used heavily to analyse by dimension when trying to focus on costs of either department/cost centre, etc.
     
    On the flip side we also have a couple of customers that use Power BI extensively to focus on other areas for debt management, cash flow etc.  Anyone that uses a third party will tend to look at the individual entries rather than any of the headings within the Chart of Accounts structure.
     
    Hope that helps,
    Shauna

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