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New Finance Features of Dynamics NAV 2018

New Features for Finance in Dynamics NAV 2018

With each new release of Dynamics NAV, Microsoft adds additional features and functionality to help users be more productive, efficient, and grow their business. Microsoft Dynamics NAV 2018 is no exception with additional accounting and financial capabilities.

So, what‘s been changed in Dynamics NAV 2018 with respect to finance?

User Tasks

Updates to the User Tasks functionality include:

  • Reminders of work to be done
  • Ability to assign tasks to yourself or others
    • Set different start and due dates if needed.
  • Linking ability such as:
    • List pages
    • Reports
      • Print a report with link to the report included in reminder
      • A review customer list reminder can include a link to the custome list
      • Cannot include a link to a card page (yet)
  • Follow up in Role Center (you will see your pending tasks in your role center)
  • Recurrence for monthly, weekly, quarterly, or annual tasks
    • Priority (High, Medium, Low)
  • Bulk delete reminders
    • Delete one by one, or by bulk delete function
  • Notifications
    • New calendar event and email reminders can be automated due to integration with Microsoft Flow in addition to seeing in your role center
    • The data set for new user tasks can be setup using the assisted setup functionality
    • In Microsoft Flow, you can then setup a flow that is triggered on new tasks on the User Task page.
    • From User Task page, you can have Flow add new tasks to your calendar and send email notifications of new tasks
    • Modifying tasks can also be setup to deliver notifications

Employee Ledger Entries

With this latest release, you no longer have to treat employees like vendors. You can now pay and invoice employees through the Employee Ledger Entry feature. Options include:

  • Ability to post entries to employees (employees have been a record type in Dynamics NAV for some time)
    • Salaries
    • Expenses
  • Posting on the General Journal lines:
    • General Journals, Sales Journal, Purchase Journals
    • Recurring journals
    • Job G/L journals
    • Fixed Asset G/L journals
    • Intercompany Journals
  • Account Type picklist includes the “Employee” option
  • Posting to Employee ledger will also post to the G/L
  • Post Employee in Payment Journal:
    • Post payments to employees
    • Apply payments
    • Un-apply payments
    • Suggest Employee payments
    • On the employee card, there is a new Fast Tab called Payments

Posting Setup

Posting Setup is easier than ever. Improvements include:

  • Visual indication of Mandatory G/L accounts
  • Show/hide fields automatically
  • Suggest Accounts
    • General Posting Groups
  • Bulk Posting
    • Post and Send: one document
    • Post: multiple documents (bulk posting)
    • Post batch: all documents

Power BI Reporting

Make your Power BI reports visible from within the most highly-used lists in Dynamics NAV.

Cancel or Correct Job Related Posted Invoices

In previous versions prior to NAV 2018, many steps were required to cancel invoices based on planning lines of the type “Billable”. In NAV 2018, you simply choose “Cancel” or “Correct” actions on the posted invoice and a credit memo will be created.

Preconfigured Excel Reports

Business Manager and Accountant role centers have a new option in the ribbon menu for Excel templates. From here, choose preconfigured reports that are ready to print from Excel.

North American Electronic Funds Transfer (EFT)

Pay vendors using electronic payments. You can modify the format used to create the EFT to suit your specific needs by assigning file layouts to each bank account.

As Microsoft continues to iterate, and release new versions and updates of Dynamics NAV, new features and capabilities will enable users to get more and more out of their software.

To learn more in-depth details of enhancements to Dynamics NAV 2018, read our What’s New in Dynamics NAV 2018 blog and the Detailed Guide from Microsoft.

For more on the various feature advances available in Dynamics NAV 2018, be sure to attend our free webinar: What’s New in Microsoft Dynamics NAV 2018, on April 4 at 2pm ET.

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