As technology advances, companies are facing multiple financial challenges related to managing and adjusting fiscal calendars. Microsoft Dynamics 365 Finance has brought significant progress in the way firms control their data, providing agile and simple functionality for the administration of data at a financial level.
What are fiscal calendars?
Fiscal calendars are a set of dates established throughout a year which regulate compliance with both periodic and non-periodic tax activities and obligations, allowing accountants and their assistants to operate with control over the dates established for the company’s accounting activities, registration and the generation of regulatory real-time reports.
Advantages of controlling fiscal calendars in Microsoft Dynamics 365 Finance
Microsoft Dynamics 365 Finance is the only ERP software in the industry that allows changes or modifications to be made to your accounting periods. This allows companies to create “personalized calendars” according to the needs of their users and an easy recalculation of accounting balances when a new period is established.
Fiscal calendar benefits when using Microsoft Dynamics 365 Finance
With Microsoft Dynamics 365 Finance, you can:
- Generate calendars on a fiscal or annual basis
- Transfer the accounting transitions executed in previous periods to a new assigned fiscal calendar through an automated and real-time process
- Avoid restrictions on the limit of fiscal calendars to be created
- Use calendars across the company since each fiscal calendar is independent of the organization and can be used in various legal entities of the company
- Divide the existing periods and create new periods to be used in the closing of fiscal years
- Optimize the management and control of the company’s fixed assets.
In the end…
Dynamics 365 Finance is a powerful tool to automate your organization’s tax processes by taking advantage of the functionalities and technological evolution offered exclusively by Microsoft innovation.
Run your business with detailed information about financial records made in previous years or recent dates according to the needs of the company, while enjoying the privilege of saving time and obtaining information in real-time, and simplifying the financial management of your company.
AlfaPeople is a leading Microsoft Dynamics 365 solutions partner with a 10-year track record and operations in more than 14 countries worldwide. With the integral support of our 550+ employees, AlfaPeople offers a range of Microsoft business solutions, such as Dynamics 365 Finance, Dynamics 365 Supply Chain Management, Dynamics 365 Sales, Dynamics 365 Customer Service, as well as a range of support and cloud migration services.
Contact us today to take the step in your business digitization journey!