Cash Management functions of Dynamics NAV 2013 R2

Microsoft Dynamics NAV 2013R2

Microsoft Dynamics NAV is probably the most global Mid-Market ERP solution. Available with 60+ localisations around the world and supported by a large ecosystem of local partners, NAV is a real alternative to “major” ERP solutions.

World - Global ERP - Dynamics NAVAmong the new features of Microsoft Dynamics NAV 2013 R2, one of the most awaited is probably the Cash Management module, largely improved since the last version. Actually, it is not a real cash management module, but it is more Bank Reconciliation and Electronic Payments ones.

Then, daily vendor payments are suggested and exportables directly in format compliant with existing bank systems, avoiding to re-enter manually the payments and improving the efficiency and the quality of the data, as directly coming from NAV.

Concerning customer payments, NAV 2013 R2 supports the SEPA Direct Debit format. This function can be used if you signed an agreement with your customer to automatically receive payments from them. It makes sense for customers with which you have recurring payments or subsription.

Microsoft Dynamics NAV 2013 R2Moreover, Microsoft has also created a “framework” allowing easy development of additional debit payment imports. Large part of formats specific to each bank, and to each country, will be provided within the country localisations, and missing formats will be easily set up.

Finally, the bank reconciliation function as also been improved within NAV 2013 R2, providing the user with a range of reconciliation tips for the bank journal. Proposed reconciliations can be modified, added or deleted, by the user in order to stick to the real exchange. They are then transferred to the general ledger, including differences, as an end to the reconciliation process. Dynamics NAV 2013 R2 is then now compliant with the new standard CAMT XML allowing banks to propose to their customers several bank transactions reports formats. The CAMT XML is to be new standard for bank transactions reports.

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