Learn how to manage finance and taxes with Business Central.

Learn how to manage finance and taxes with Business Central.

In this blog, we will talk about how to manage finance and taxes with business central. Business Central, as a highly versatile, powerful and customisable ERP is ideal for retail businesses. It is particularly well suited to the task of organising your business’s financial and tax operations, and it scales perfectly with an expanding business. Using Business Central will save your retail business thousands of man hours, reduce error and eliminate systematic redundancies to maximise your ROI while promoting absolute transparency. Then here is a list of a few Business Central features that make it indispensable to the financial workings of your institution. 

1. Single Customer Creation: Business Central creates a single customer per storefront to vastly ease payment matching.
2. Accurate Inventory Value Reporting: Business Central helps in ensuring you have a precise inventory value through the creation of an order within business Central, even though post-processing may take place outside this system. 
3. Intelligent Tax incorporation: Rather than blatantly incorporating taxation for all stores, Business Central smart allocates this feature. Stores that handle taxes from their end in an efficient manner (such as Amazon) are automatically excluded while those who do not handle it are included.
4. Payment Matching: Payments matching can be complicated as the payments can come in bulk for daily, monthly or bi-weekly settlements. Moreover, Business Central ensures that your retail business can match each order and ensure that the daily settlement report is correctly accounted for accurately.
5. Monthly Account Creation: As an added checking mechanism as well as to ensure transparency in the system Business Central creates a monthly account for each store and ensures each store’s balance is matched out at the end of the month’s closing.

Conclusion :Manage Finance and Taxes with Business Central

In conclusion, Managing finances is a precise, cumbersome and error-prone activity. Then business Central transforms it into a transparent, fast and perfectly accountable activity. Additionally, Peritos Solutions has assisted numerous Retail Businesses of all sizes to improve their performance and ROI through the assiduous application of Business Central. Read this e-book to understand how exactly Business Central can transform your Retail Business into a global enterprise. 

To read more:https://learn.microsoft.com/en-us/dynamics365/business-central/finance