Financial controlling

Financial controlling - Biz4BuildIn together with Microsoft Dynamics NAV include several controlling tools. Financial budgets are a tool for a strategic and operative planning. Budgets may be created for divisions, projects or any profit and cost centers. A budget is created directly in the information system environment or a communication with MS Excel may be used.

For an easier aggregation of input data it is possible to define an individual structure of accounts and get a requested structure of a calculation formula for the needs of budgets and further analyses. A financial budget of the project may be created from a project’s price calculation or a detailed budget based on predefined transformation templates - data is time structured for an easier comparison with actual numbers.

To define profit centers, cost centers and whatever other attributes, the system uses so-called Dimensions - any parameter which can be assigned to any transaction in the system. All direct costs can then be posted to desired dimensions (cost or profit center, project manager, order, calculation formula, etc.).

The system includes several models for distribution of overhead costs. One of the models offers to register resources consumption (people, machines) to projects using an internal cost rate - the system has tools to calculate the rate and further use it. Other possibility is to dissolve indirect cost (administrative and production overhead) to particular profit centers. The system offers a tool which allows defining calculation formula for dissolving of costs to various account types and profit centers. For an evaluation of a project or any comparison of a budgeted and actual data, a special module is used allowing to create user defined account schedules - it analyzes data both from budgets and general ledger transactions. It is possible to compare several periods and various dimensions. More detailed analyses can be done using managerial tools (see the Business Intelligence section).