Microsoft Dynamics AX ERP Solution – Undeniably Magnificent

It takes something special for something to be called magnificent. Not everything is magnificent. Only few are. They are so because of that X-Factor in them, something glaringly absent in the rest.

This tag of ‘magnificence’ is something that sits well on the Microsoft Dynamics AX ERP Solution. Reasons being, it is so versatile that almost every organization in this world that feels the need of an ERP wants a piece of it. One of the finest enterprise resource planning software for businesses, AX offers functionalities for multiple functional domains that help accomplish numerous tasks. Fact is, these make AX one of the most trustworthy solutions for consideration as far as enterprise resource planning services are concerned.

1. Company Currencies

2. Ledger Accounts within Chart of Accounts

3. Fiscal Years and Periods

4. Sales Taxes for both Sales & Purchases

5. Journals to Post to Ledger Accounts & Accounts in Other Sections

6. System Accounts for Automatic Posting

7. Ledger Budgets, Fixed Assets and Period Allocation Keys

8. Country and Region Specific Sales Taxes and Vendor Withholding Tax

9. Dimensions, Sets, Hierarchies and Financial Statements

10. Parameters and Number Sequences applicable to Ledger Accounts & Ledger Transactions

11. Optional features related to Postings & Journals

1. It helps set up and manage cost accounting

2. It helps redirect overheads and indirect costs to entities set up as cost categories

3. After setting up cost categories on the most versatile erp software for small business, cost accounting professionals get to activate a link to ledger accounts which ultimately leads to a copy of posted ledger transactions to automatically appear on the most appropriate category. The costs can then be redistributed among cost categories and dimensions.

1. They can create and manage bank accounts and other associated financial instruments such as deposit slips, checks, bills of exchange and promissory notes

2. They can create bank groups, bank transaction types, bank accounts that their company has in each group and check layouts for accounts as well

3. Bank data can be viewed through a number of standard inquiries. Bank account statements can be reconciled and bank data be printed in standard reports. These reports include balances, payment lists, summaries, transactions and deposit slips, all of which are not reconciled

1. For Accounts Receivable, all Sales can be tracked along with incoming payments from customers

2. Things such as customer groups, posting profiles, interest notes, payment options, collection letters, commissions etc. can be set up

3. Other things such as sales orders, prices and discounts, charges, supplementary items, deliveries, destinations and bills of exchange too can be taken care of

4. Several other tasks such as settling customer invoices, creation of reports, creation and management of sales orders, sales quotations and free text invoices can be undertaken

5. For Accounts Payable, all purchases and outgoing expenditures to vendors can be tracked

6. Other things that can be setup are vendor groups, profiles, payment options and parameters concerning vendors such as prices, discounts, charges, supplementary items and destinations

These make AX magnificent. It is a solution that has been designed considering the needs of enterprise segment companies. A lot of functionalities for other verticals will be written about in the piece that is in continuation to this.