Month-end closes are often described as one of the most time-consuming and stressful periods for finance teams. This does not have to be your reality. With the right tools and strategies, you can accelerate the process, reduce manual tasks, and achieve greater accuracy and efficiency. In Dynamics 365 Business Central, there are many ways to automate and streamline these processes and get more done in less time. Here are three quick ways to speed up your month-end close while making your financial processes more efficient and effective.
Automate the Routine with Workflows and Scheduled Jobs
Automation does not always mean modifications. With Workflows and Scheduled Jobs, you can automate like a pro with no code! Workflows can be used for regular monthly tasks, like posting invoices, journal entries and bank reconciliations. You can set these workflows to approve documents or automatically process transactions based on defined business rules. If you are running financial reports, recalculating entries or running lengthy cost-adjustment processes, using Scheduled Jobs can ensure these are completed on time, with minimal disruption to regular users all while giving you more time back to focus on more strategic tasks.
Leverage Business Central Automation Tools
AI and CoPilot are all getting a huge spotlight and strong positive user reviews in Microsoft tools, and Business Central is no exception. The AI functionality added to Bank Reconciliations and processing bank feeds can be a real game changer! You no longer need to struggle with manual entry and data errors and leverage AI and your data in Business Central to create a quicker, more accurate and streamlined Bank Reconciliation process allowing you to close your books faster. Use CoPilot to quickly search and verify transactions and related documents with enhanced search capabilities to validate and flag discrepancies.Stay in the know with Real-time Financial Reporting and Dashboards
Don’t wait until the month is closed to track business progress or identify potential issues. Leverage Business Central’s robust business intelligence and Power BI integrations to gain continuous insights into key financial metrics and processes to reduce manual month-end adjustments and discrepancy investigations. Why wait, when you can be proactive? With real-tine financial reporting and tactically configured dashboards, minimize your month-end surprises and accurately close on time.
Whether your month-end close could use a few tips or tricks, or a full overhaul, consider adopting one of these great automation tools you already have at your disposal in Business Central. From workflows and scheduled jobs to CoPilot and AI tools, take your month-end close to the next level and reduce your days to close.
