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AccSoft

BUSINESS CENTRAL

28
Jul
By , No Comments

Why Professional Services Firms Are Choosing Business Central for Project Accounting 

In the fast-paced world of professional services, where projects are the lifeblood of the business, effective time recording, resource usage, and cost monitoring are imperative. If you’re an engineering company, legal firm, IT consultancy, or creative shop, optimizing client projects can be the difference between profit and loss on your bottom line. That’s why more companies are turning to Microsoft Dynamics 365 Business Central for project accounting.  Let’s examine why Business Central is becoming the go-to ERP for project-based businesses.  1. A Single All-in-One Solution for Project and Financial Management  Professional services firms typically employ a suite of stand-alone systems, one for time, another for billing, and yet another for reporting. Business Central does it all:  Project planning & budgeting  Resource assignment  Time and expense capture  Client invoicing  Revenue recognition  Integrated financials  Having a single system to manage your projects and your finances in unison eliminates data entry, reduces errors, and speeds up decision-making.  2. Error-Free Time and Expense Posting  Time is money for professional services. Business Central allows employees to post timesheets and expenses against a specific job, activity, or client. This leads to:  Better billing accuracy  More stable cash flow  Improved profitability analysis  Time tracking can be linked to mobile apps, so it is handy for consultants on the move.  3. Improved Resource Management  Knowing who’s available, what skills they have, and what they’re engaged in is critical to achieving maximum delivery. Business Central enables:  Resource planning based on availability and skills  Capacity forecasting for future projects  Real-time workload allocation visibility  This means less idle time, happier employees, and faster project delivery.  4. Automated Billing and Revenue Recognition  Project-based billing approaches time & materials, fixed cost, or milestone come out of the box in Business Central. You can:  Set up billing rules by project or task  Automatically invoice  Track Work in Progress (WIP)  Comply with IFRS/GAAP revenue recognition rules  This ensures transparency for your customers and compliance for your auditors.  5. Scalable and Cloud-Based  Professional services businesses are growing faster than ever. You have a 10-employee business or a 500-employee company, Business Central grows with you. As a cloud-born solution, it delivers:  Anywhere, anytime access  Integration with Microsoft 365 and Teams  Lower infrastructure costs  Cyclically updated features  And you enjoy Microsoft’s enterprise-grade security and compliance.  6. Customizable and Extensible  Each firm is different. Business Central offers intrinsic flexibility and a vast marketplace of industry-specific extensions for:  Contract management  Advanced time tracking  Payroll and HR integration  Project forecasting and analytics  That is, you can apply Business Central to align your exact business model, without an overly complex custom build.  Final Thoughts  Project-based companies need more than bookkeeping software; they need a platform that can manage the entire project life cycle from proposal to payment. Microsoft Dynamics 365 Business Central is exactly that.  Through the integration of project accounting, operations, and finance in a single location, Business Central allows professional services organizations to serve more efficiently, raise profitability, and develop with confidence. 
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Simplifying Multi-Entity & Multi-Currency Accounting with Business Central (1)
23
Jul
By No Comments

Simplifying Multi-Entity & Multi-Currency Accounting with Business Central

Managing finance across multiple entities and currencies can be overwhelming, especially if that requires standing on fragmented systems, spreadsheets, or legacy systems. Multibranch and multinational companies make consolidation, compliance, and accurate reporting more difficult. Microsoft Dynamics 365 Business Central is engineered to shatter the complexity. With robust multi-entity and multi-currency accounting capabilities, it provides a hub for precise, automated, and scalable financial management. The Challenge: Siloed Financial Management Companies with numerous legal entities, global subsidiaries, or global operations are faced with a series of issues common to all: If your company is faced with this situation, the necessity for a single, intelligent financial system takes precedence. Business Central: The Multi-Entity & Multi-Currency Game-Changer Business Central comes with native abilities that free you from the frustration of multiple entities and currencies all in one system. 1. Single-Click Multi-Entity Management Business Central lets you set up and manage numerous companies in a single installation. Whether subsidiaries, divisions, or branches, you can run them based on shared data structures and quickly consolidate accounting. 2. Automated Multi-Currency Accounting Selling in multiple currencies? Business Central handles: It all reduces manual effort, removes currency exchange, and keeps financial accuracy at borders. 3. Quick and Accurate Financial Consolidation No manual reconciliations and midnight spreadsheets. This gives your leadership real-time visibility into the overall financial health of the entire company. 4. Advanced Reporting and Compliance Features With built-in financial reporting, budgeting, and Power BI integration, Business Central offers finance professionals visibility across all entities. Yo
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Optimizing Inventory and Supply Chain Management with Business Central
17
Jul
By No Comments

Optimizing Inventory and Supply Chain Management with Business Central

With the fast-evolving business landscape of the day, effective inventory and supply chain management is no longer a differentiator; it is a necessity. For companies with multi-channel distribution, variable demand, and complicated inventory, Microsoft Dynamics 365 Business Central presents a single solution to simplify processes, lower costs, and improve customer satisfaction. Why Inventory and Supply Chain Optimization Matters Inventory. Supply chain interruptions hit profitability directly. Excess inventory takes up shelf space and money, and insufficient inventory results in lost sales and a poor customer experience. The answer to staying out of both extremes is a system that provides real-time visibility, smart planning, and automation capabilities at the center of Business Central. Key Features of Business Central for Supply Chain Optimization 1. Real-Time Inventory Visibility With Business Central, companies can monitor inventory at many locations and warehouses in real-time. Users can see item availability by location, bin, or lot/serial number, facilitating stock accuracy and rapid decision-making. 2. Demand Forecasting and Planning Business Central also has forecasting capabilities that can forecast future demand using historical selling patterns and trends. When used with sales and operations planning (S&OP), companies can create more complex replenishment strategies and prevent expensive stockouts or overstocking. 3. Replenishment Automation With the use of reorder point guidelines and planning worksheets, Business Central orders production and purchases automatically. The software realizes optimum order quantities and delivery schedules to minimize procurement and avoid human mistakes. 4. Vendor and Supplier Management The solution boasts comprehensive vendor performance monitoring, determining lead times, as well as managing orders. Business Central facilitates the formation of solid supplier relationships and timely procurements by business requirements. 5. Warehouse Management From simple stock movement to complex warehouse configuration, Business Central enables bin-level tracking, picking, and put-away functionality, and barcode scanner integration that delivers warehouse staff the speed and accuracy they need. 6. Departmental-Level Integration Since Business Central is an integrated ERP solution, it links inventory, sales, purchasing, finance, and operations. Meaning that any change in one department, a spike in sales, will be felt across the entire supply chain. Advantages of Implementing Business Central for Inventory and Supply Chain Final Thoughts Inventory and supply chain optimization is a process, but one that, using the right set of tools, has quantifiable and tangible benefits. Microsoft Dynamics 365 Business Central provides the agility to meet current business needs to be competitive, informed, and agile. If a distributor, manufacturer, or retailer, Business Central assists in delivering the right product, at the right moment, to the right location, every time.
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How Microsoft and Partners Simplify GP to BC Migration
20
Jan
By , No Comments

How Microsoft and Partners Simplify GP to BC Migration

Microsoft Dynamics GP, known traditionally as Great Plains, has served as the enterprise resource planning platform for many businesses for decades. However, change is constant for businesses, and these companies are starting to transition to Microsoft Dynamics 365 Business Central. This newer generation of cloud ERP provides scale and integration while driving functionality that enables today’s complex business environment. For organizations willing to make that transition, the process is relatively easy through a partnership between Microsoft and its channel network. Here is how they are doing it. 1. Comprehensive Analysis and Planning Before initiating the migration process, Microsoft and its partners analyze the existing GP system in detail. This includes: Identifying Customizations: Reviewing customizations and third-party integrations in GP to understand their applicability in BC. Data Review: Reviewing the volume, quality, and complexity of data for smooth transfer. Business Process Evaluation: Mapping current processes to Business Central’s capabilities, thus identifying opportunities for improvement. 2. Migration Tools and Accelerators To make the migration process easier, Microsoft offers strong tools, including: Intelligent Cloud Insights: This tool allows businesses to connect GP to Business Central while keeping on-premises functionality in place during the transition. This tool facilitates a hybrid approach. Data Migration Toolkit: This is a solution specifically designed for transferring master data, historical transactions, and configurations from GP to BC with minimal manual intervention. In addition, Microsoft partners typically develop their proprietary tools and scripts to further automate and enhance the process. 3. Expertise from Certified Partners Microsoft’s extensive partner ecosystem is an important component of migrations. These certified experts provide: Industry-specific knowledge: Tailoring the migration approach to the specific needs of industries like manufacturing, retail, or professional services. Project management: Execution with minimal disruption to daily operations. Training and Support: Educate end-users about the interface and features of Business Central and make them use it. 4. Cloud-First Benefits Benefits of adopting Business Central, many in terms of cloud-first benefits are: Automatic Updates: Get the latest features and security updates in an automated process without manual effort. Seamless Integrations: Leverage native integration to Microsoft 365, Power BI, and other Azure services. Scalability: Ability to grow through flexible cloud resources that adjust according to the needs of the business. 5. Risk Mitigation and Continuous Support To minimize risks, Microsoft, along with its partners, will: Pilot the Migration: It would be migrated in a controlled environment before its full deployment. Address Data Sensitivity: Data security standards and regulations are met. Provide Ongoing Support: After migrating, support to resolve issues and enhance any performance concerns. Conclusion Migrating from Dynamics GP to Business Central may seem like a daunting task, but with the right tools, expertise, and planning, Microsoft and its partners ensure a smooth transition. By embracing Business Central, organizations unlock the potential of a modern ERP system designed for the digital age. If you’re considering this migration, reach out to a certified Microsoft partner to explore how they can tailor the journey to your business needs.
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From Legacy to Leading Edge: How Dynamics GP Users Can Embrace the Power of Business Central
09
Jan
By , No Comments

From Legacy to Leading Edge: How Dynamics GP Users Can Embrace the Power of Business Central

For years now, Microsoft Dynamics GP has become the trusted workhorse for several enterprises seeking robust solutions in enterprise resource planning. Dynamics 365 Business Central now changes all that because it presents them with an excellent opportunity to enjoy a modern platform that streamlines operations, empowers decision-making, and provides a future-proof investment in their ERP infrastructure. If you’re already working with Dynamics GP, then Business Central is not just an upgrade but a strategic step forward to keep your business aligned with the future of technology. Learn how you can leap from legacy to leading edge. Why Transition from Dynamics GP to Business Central? Cloud Power: Dynamics GP is an on-premises solution; hence, its infrastructure is always expensive, and scaling is somehow hard. On the other hand, Business Central is a cloud-native ERP that provides flexibility, automatic updates, and global access. The advantage of using a cloud is that your team can have access to real-time data anywhere, making collaboration and remote work easier. Business Central integrates seamlessly with other Microsoft tools, such as Power BI, Teams, and the Power Platform, to further facilitate analytics, communication, and automation. Continuity of Innovation: Microsoft has moved to Business Central, with constant updates and new features being delivered along with a lively ecosystem of applications. This ensures that your ERP solution remains up to date with your business requirements. Dynamics GP is rarely updated and serves as an indication that the product will soon become a legacy. Cost Efficiency: Dynamics GP requires upfront hardware costs and then some maintenance. Business Central’s subscription model offers predictable costs without expensive servers or IT services. Ease of Use: The user-friendly interface of Business Central makes navigation through the application easy to learn and easy to understand, meaning your team could be on board and flourish quickly. Transitioning from Dynamics GP to Business Central Assess Your Current Configuration: First, assess your Dynamics GP. Note the customizations, third-party integrations, and workflows that are essential for running your operations. This helps in planning for all the necessary changes and ensures that nothing essential is missed. Engage a Trusted Partner: With a Microsoft-certified partner, it makes the whole process of migrating less painful. They are experienced in analyzing what your needs are, suggesting the best practices, and making the transition with minimal disruption to the business. Data Migration: Financial data, master records, and historical transactions are migrated to Business Central. Microsoft’s Data Migration Extension is an easy tool that helps ensure data integrity and accuracy while migrating. Train Your Team: A new system needs adoption. Invest in training sessions and resources that will help your team understand the features and benefits of Business Central. This will speed up their comfort and confidence with the platform. Test and Optimize: Before going live, thoroughly test Business Central to identify gaps or issues. This is an opportunity to optimize workflows, set up dashboards, and fine-tune user permissions. Go Live and Monitor: With all systems tested and your team onboard, it’s time to go live. Post-migration, monitor performance closely and gather user feedback to make continuous improvements. Benefits of Business Central Post-Transition Once you’ve made the switch, your business can enjoy numerous advantages: Be Future-Ready Today More than a technology upgrade, it is a transformation that will align your business with the demands of the modern era. Using the power of Business Central will not only preserve the legacy of past investments but position your business for sustained growth and success. Begin your journey today and experience the leading edge of ERP innovation.
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Why Moving from GP to Business Central Is a Smart Investment
08
Jan
By , No Comments

Why Moving from GP to Business Central Is a Smart Investment

In today’s fast-paced business environment, organizations operating on legacy ERP systems, such as Dynamics GP (Great Plains), experience increasingly significant limitations, including under-functionality and a high maintenance cost, that render them obsolete for modern-day business needs. Moving to Microsoft Dynamics 365 Business Central gives forward-thinking options, which return very high value to investment, as well as securing long-term growth. This is why changing over to Business Central is an astute business decision. 1. Cost Efficiency 2. Improved Functionality 3. Cloud-Based Flexibility 4. Streamlined Integration with Microsoft Ecosystem 5. Future-Proofing Your Business 6. Improved User Experience 7. Better ROI and Long-Term Value 8. Smooth Process of Migration The upgrade of Dynamics GP to Business Central is much more than an upgrade—it is a strategic move towards modernizing operations, reducing costs, and positioning a business to thrive sustainably. This will allow the achievement of driving innovation, improved efficiency, and higher return on investment with the integration of advanced functionality offered in the cloud-based ERP. The sooner the business migrated, the sooner it will avail benefits to be reaped and get a competitive edge within the industry.
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