Effective budget management is essential for highlighting financial implications, aligning operational and financial objectives, and ensuring plans are executed accurately. The process can be challenging as it requires managers to foresee, study trends, and formulate necessary strategies.

Naviworld Advance Budget Control package is integrated with Microsoft Dynamics 365 Business Central, which includes Encumbrance Accounting. This powerful budgeting tool helps highlight the financial implications of plans and defines the resources and conditions required to achieve these plans. The controlling function verifies if the results meet the predetermined objectives and reports any deviations and their causes. Organizations can avoid overspending by conducting real-time proactive monitoring and validating of budget usage across the entire procure-to-pay transaction lifecycle and streamlining the financial close process by carrying forward encumbrances.

Key Benefits:

Enhanced Financial Management: By enforcing budget controls, organizations can prevent overspending and ensure that financial resources are used efficiently.
Improved Decision-Making: Real-time data and detailed reports provide insights that help in making informed financial decisions.
Accountability and Transparency: Workflow integration ensure that all budget-related activities are tracked and approved according to organizational policies

Features:

1. Budget Planning

Define Budget Structure
Define Budget Guidance (Budget Dimension Set)
Define Budget Plan for Service/ Inventory/ Fixed Asset with function import data from excel
Budget plan approval process

2. Enhancement Functions

BG Purchase requisition for internal request with check budget
Purchase Order with budget check and reserve budget (interim)
Purchase Invoice with budget check and update budget ( interim/actual)
Payment Journal check & update budget interim/actual
General Journal check & update budget interim/actual
Item Journal check & update budget interim/actual
FA G/L journal check & update budget interim/actual
Financial Report with Advanced Budget Entry.

3. Budget Revision & Control

Adjust Budget by each budget line: increase / decrease in relation with Budget Encumbrance
Budget control basing Active Budget Plan
Budget control integrate with Purchase, Inventory, Fixed Asset and G/L Management
Ability to control Encumbrance & Actual Amount
Control Remaining Budget by each Budget Line
Warning and avoid budget deficit

Supported Editions

This app supports the Essential and Premium editions of Dynamics 365 Business Central

Supported Countries

United States, Japan, Thailand, Singapore, Canada, Germany, South Africa, Vietnam

Supported Languages

Currently available in English and Vietnamese

Advance Budget Control

by Naviworld Vietnam