Both are from Microsoft. Both are full-fledged ERP solutions. Both are in the cloud.

For many, the lines between Dynamics 365 Finance and Dynamics 365 Business Central seem blurred. While they both perform many similar functions, there are distinct differences.

For instance:

  • These two products have distinct heritages (Finance is an updated version of Dynamics AX; Business Central from Dynamics NAV).
  • Their pricing is different.
  • They are marketed to different segments.

Both offer financial “dimensions” – allowing for critical, sophisticated control over accounts and inventory – but they’re implemented quite differently in each solution.

You can begin to discern the difference between the two by applying the rule of “multi’s”. Is your company a multi-warehouse, multi-business, multi-location, multi-line of business, multi-currency, multi-language, multi-country, or multi-tax organization? The more of those that apply to you, the more likely you’ll need Dynamics 365 Finance. And don’t just think about today – where will you be in the future? You may need to move up to that advanced functionality sooner than you think.

Then again, for some organizations, Finance could be overkill. Finance requires a minimum of 20 users, while Business Central lets you start with just one. That, along with its significantly lower implementation and ownership costs, makes Business Central an attractive option for the mid-market.

But what matters most for you is the answer to this question: Which solution will do what you need it to do, at a price you can afford?

A trustworthy answer to that question requires a detailed analysis. To cut through the sea of marketing hype, we’ve prepared a comprehensive checklist that will help you see the functionality available in Dynamics 365 Finance and Dynamics 365 Business Central at a glance, covering these 285 features:

Financial Management

  1. General Ledger
  2. Accounts Payable
  3. Accounts Receivable
  4. Cash & Bank Management
  5. Credit and Collections
  6. Fixed Assets
  7. Electronic Funds Transfer
  8. Financial Consolidations
  9. Financial Reporting
  10. Global Electronic Reporting
  11. Cost Accounting
  12. Revenue Recognition
  13. Multi-Currency
  14. Dual Currency / Triangulation
  15. Audit and Compliance
  16. Multi-Entity
  17. Tax
  18. GST/VAT
  1. Allocations
  2. Cash Flow Forecasting
  3. Finance Charges / Interest
  4. Company Hierarchies
  5. Deduction Management
  6. Document Capture
  7. Multiple Chart of Accounts
  8. Journal Approval Workflows
  9. Recurring Journals
  10. Intrastat Journals
  11. Payment Terms and Schedules
  12. Dunning
  13. Bank Statement Reconciliation
  14. Positive Pay
  15. Multiple Depreciation Methods
  16. Multiple Posting Layers
  1. Multiple Financial Calendars
  2. Intercompany Journals
  3. Statistical Accounts
  4. Payment Run Management
  5. Electronic Payments
  6. Deposit Slips
  7. Letters of Guarantee
  8. Letters of Credit
  9. Multiple Asset Books
  10. Bill of Exchange
  11. Collection Letters
  12. Vendor Aging
  13. Customer Aging
  14. Financial Dimensions
  15. Budget and Forecast
  16. Budget Control

Supply Chain Management

  1. Warehouse Management
  2. Inventory Management
  3. Batch and Serial Tracking
  4. Transportation Management
  5. Quality Management
  6. Intercompany Planning
  7. Intercompany Transfers
  8. Inventory Costing
  9. Demand Forecasting
  10. Catchweight Management
  11. Multiple Units of Measure
  12. Multi-Site
  13. Multi-Warehouse
  14. Batch Attribute Management
  15. Intercompany Sales
  16. Potency Management
  17. Cross Docking
  1. Warehouse Replenishment
  2. Route Management
  3. Freight Calculation
  4. Freight Bill Reconciliation
  5. Transfer Orders
  6. Returns Management
  7. Cycle Counting
  8. Mobile Handheld
  9. Inventory Picking
  10. Inventory Put away
  11. Load Planning
  12. Dock Scheduling
  13. Worker Wave Management
  14. Item Traceability
  15. Batch Tracking
  16. Serial Number Tracking
  17. Warehouse Location Tracking
  18. Consignment Inventory
  1. TAG Cycle Counting
  2. Certificate of Analysis
  3. Certificate of Supply
  4. Multiple Inventory Statuses
  5. Quality Orders
  6. Quality Hold
  7. NMFC codes
  8. LTL classes
  9. Container Management
  10. Load Building
  11. Shipment Appointment Management
  12. Shipment Building
  13. Carrier Management
  14. Harmonized Tariff Schedules
  15. Fuel Indexes
  16. Global Customer & Vendor

Procurement and Sourcing

  1. Requisitions Request for Quote
  2. Vendor Onboarding
  3. Purchase Order Management
  4. Vendor Collaboration
  5. Vendor Portal
  6. Purchase Agreements
  7. Purchase Discounts
  8. Purchase Tax
  9. Intercompany Purchases
  10. Purchase Planning
  11. 1099
  12. Vendor Change Management
  1. Purchase Order Change Management
  2. Purchase Trade Agreements
  3. Vendor Catalogs
  4. External Vendor Punch Out
  5. Vendor Management
  6. Blanket Purchase Orders
  7. Purchase Quotes
  8. Purchase Returns Management
  9. Vendor Discount Groups
  10. Vendor Rebates
  11. Purchase Credit Memos
  12. Authorized Vendor Product List
  1. Asset Capitalization
  2. Vendor Certifications
  3. Vendor Rating
  4. RFQ Response Ranking
  5. Attribute-Based Pricing
  6. Invoice Matching Policies
  7. Promissory Notes
  8. Payment Fees
  9. Broker Contracts
  10. Royalty Management
  11. Foreign Currency Revaluation

Sales Order Management

  1. Sales Quotations
  2. Sales Order Processing
  3. Product Configurator
  4. Pricing
  5. Sales Agreements
  6. Rebates
  7. Discounts
  8. Sales Tax
  9. Intercompany Sales
  10. Delivery Date Management
  11. Direct Delivery Management
  1. Return Order Management
  2. Customer Change Management
  3. Trade Promotions
  4. Multiple Ship To / Bill To
  5. Commissions
  6. Customer Management
  7. Order Promising
  8. Available to Promise
  9. Capable to Promise
  10. Order and Item Charges
  11. Blanket Sales Orders
  1. Marketing Fund Management
  2. Customer Price Groups
  3. Product Family Pricing
  4. Sales Analysis Dashboards
  5. Bill backs
  6. Smart Rounding
  7. Credit Card Integration
  8. Attribute-Based Pricing

Product Information Management

  1. Product Master Data Management
  2. Product configuration modules
  3. Attribute Management
  4. Dimension and variant management
  1. Product Change Management
  2. Product Compliance
  3. Multiple Units of Measure
  4. Standard Costing
  5. Product Dimensions
  6. Product Category Hierarchy Management
  1. Restricted Product Regions
  2. Product Safety Data Sheets
  3. Service Items
  4. Inventory Items
  5. Expense Items
  6. FIFO/LIFO/WAC/BATCH Costing

Human Capital Management

  1. Employee Management
  2. Skills, Competencies & Certifications
  3. Position Management
  4. Job Management
  5. Employee Self-Service Portal
  6. Benefits Management
  1. Course Management
  2. Loaned Items
  3. Questionnaires
  4. I-9 Document Management
  5. Worker Goal Management
  6. Absence & Leave Management
  1. FMLA Cases
  2. Injury & Illness Management
  3. Compensation Management
  4. Recruitment Projects
  5. Applicant Management

Customer Relationship Management

  1. Contact Management
  2. Opportunity Management
  3. Lead Management
  4. Campaigns
  1. Prospect Management
  2. Task & Activity Tracking
  3. Outlook Integration
  4. Segmentation
  1. Call Lists
  2. Sales Territory Management
  3. Case Management
  4. Salesperson Management

Project Accounting

  1. Capital Projects
  2. Time & Materials Projects
  3. Resource Scheduling
  4. Billing & Invoice Rules
  1. Revenue Recognition
  2. Milestone billing rules
  3. Work Breakdown Structures
  4. Cost & Effort Tracking
  1. Project Quotations
  2. Grant Management
  3. Resource Capacity Management

Manufacturing

  1. Discrete Manufacturing (Route & BOM)
  2. Process Manufacturing (Formula & BOM)
  3. Lean Manufacturing (Kanban)
  1. Kanban Boards
  2. Master Planning
  3. Job Scheduling
  4. Manufacturing Execution
  5. Product Costing
  6. Resource Management
  1. Capacity Planning
  2. Outsourced Manufacturing / Subcontractors
  3. Safety Stock Management
  4. Production Sequencing
  5. Shop Floor Interface

Retail

  1. Point of Sale
  2. Merchandise Operations
  3. Order Management
  4. Staff and store Management
  5. Product information Management
  6. Retail Analytics
  1. Consumer Mobile Application
  2. Distributed Order Management
  3. Coupons
  4. Loyalty Cards
  5. Kitting/Assemblies
  6. Product Assortments
  1. Channel Management
  2. Call Center Management
  3. Call Center Scripts
  4. Fraud Checking
  5. Continuity Orders
  6. Installment Orders

Service Management

  1. Service Agreements
  2. Service Contracts
  3. Work Orders
  1. Resource Scheduling
  2. Repair Tracking
  3. Service Item Management
  1. Service Contract Quotes
  2. Service Subscriptions
  3. Service Object Management

Time & Expenses

  1. Expense Report Management
  2. Time Sheet Management
  3. Travel Requisitions
  1. Workflow Approval
  2. Time & Expense Policies
  3. Credit Card Import
  4. VAT/GST Reclamation
  1. Per Diems and Mileage
  2. Employee Payments

System

  1. Role-Based Security
  2. Azure AD Authentication
  3. Segregation of Duties
  4. Electronic Signatures
  1. Database Auditing
  2. User-Based Alerts
  3. Business Workflows
  4. Document Management
  1. Mobile Client
  2. Microsoft 365 Integration
  3. Document Management
  4. Workspaces

Of course, Microsoft Dynamics 365 Finance and Dynamics 365 Business Central are both actively developed, so the feature list is always growing and changing. But this list is a good starting point for a conversation with your implementation partner, leading to a solid decision for future business growth.Did you see functionality in the above list that is critical for your organization?Click here to get the Dynamics 365 comparison chart of 285 features by product. Then let’s start a conversation to review the details and determine which product will help you reach your goals

By Peter Joeckel, Pelorus Technology, www.pelorustechnology.com

The post Checklist Compares 285 Features and Functions of Microsoft Dynamics 365 Business Central and Dynamics 365 Finance appeared first on ERP Software Blog.