Microsoft Dynamics Finance System Enhancement
                                                                                    Abstract
The purpose of this research is to produce new features and enhancements for Microsoft dynamics NAV 2016, financial system. I suggest the improved version of the financial system, can allow access from any mobile and computer, more advanced accounting functionality which escalates the comfort of data entry, establish fresh financial functions into the key products and enrich the user satisfaction for tax consultants, accountants and bookkeepers.
Businesses use a number of different software, to prepare and predict the organisation’s day-to-day financial activities, this is a time-consuming, inefficient and most expensive process. The improved version will enable to combine most of the financial activities together and produce a required financial statement via single software. While experiencing the enhanced version of the software will increase the productivity, decrease costs and improve consumer satisfaction. Moreover, this enhancement would allow easier access for its users and it would be more cost-effective and time-saving than previous versions.

Limitations and future enhancement
Cost accounting software delivers an effective way to handle the cost of generating the deviation between budgeted and actual costs of products, operations, project and departments. As a consequence, it consolidates the costs with general ledger and then distributes that cost detail to the several cost centres. The previous versions of Microsoft dynamics have functional limitations after this specific point, whereas the upgraded version of the financial system will automatically generate a record for each purchase and its department code. In this way, the accumulated total figure will be adjusted to inventory values, and then it will be transferred to the profit and loss account,where it appears as the cost of sales in the end of financial year statement.

In addition to that, cash flow forecast is a prediction for company’s liquidity, cash and other monetary positions. It comprises three things such as the cash you anticipate to receive, the cash you anticipate to pay out and the available liquid funds. The combination of these elements provides a direct forecast of cash flow. The Microsoft dynamics version NAV 2015, did not have the feature of the pop-up window. However, the enhanced Microsoft dynamic system will allow a pop-up window to remind you when forecast goes below a certain level, as an alert for insufficient liquid funds when this happens; you will be notified that the company needs to receive the money from its overdue debtors or other financial institutions.

Furthermore, the Microsoft dynamics 2015, has a restriction to conduct business all over the world. Yet, through the improved version you can manage multiple bank accounts and currencies, including receivables, payables, bank account, cash-management system and inventory items. This will enable you to expand the business transactions not only in the European economic area, but also all over the world, creating a new currency and specify the format for the exchange rate chart, in order to do that the amounts will persistently appear in the exact format in the every report throughout the scheme.

On the other hand, planning and management are a critical part of undertaking a business, keeping your financial reports and the solution up-to-date is essential for future business development. The enhanced financial management tools can support accountants and financial analysts to access and explore the most important business data from the allocated budgets, cost accounting, cash flows and other financial reports, which can be used to monitor the strength of the business and provide sufficient information for the decision making.
In conclusion, if your organisation has continuously engaged in improvements of your company’s methodologies and disciplines, then, the Microsoft dynamics NAV 2016 enhancement, would be faster to implement, stress-free to practice and has the ability to support business ambitions.

References
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