In our recent blog series we’ve been exploring the various ways in which a move to Business Central can represent a huge leap for accountants and their clients.
One of the most noteworthy features is Business Central’s dimensional accounting, providing organisations greater control over their financial data than ever before. These dimensions act as customisable filters, allowing businesses to create as many as needed to meet their unique requirements. By assigning dimensions to transactions, such as departments, projects, or cost centres, businesses can achieve a deeper understanding of their financial data for more accurate analysis and decision-making. This flexibility is especially beneficial for sectors that require intricate financial tracking, like project-based accounting or managing expenses across varied product lines. Charities, for instance, can use the dimensions to handle fund management and departmental budgets.
Adding to its robust capabilities is the integration with Power BI; one of Microsoft’s most advanced products. Power BI is an advanced tool for data visualisation and business intelligence, offering customised dashboards and reports that bring new levels of insight into financial performance. Its significance is underscored by the fact that many larger clients already use it, making it essential for accountants to be well-versed with this tool.
With Power BI, accountants and their clients can comprehensively monitor business performance, pinpoint potential issues, and make well-informed decisions across all business areas. The tool’s capability to rapidly create and share dashboards ensures that all relevant functions are kept in the loop, enabling proactive participation from all parties in decision-making processes.
For more information about Business Central and why so many accountants are now transitioning away from smaller solutions (such as Xero and Sage) for their more complex clients, email hello@creative-computing.co.uk. We can arrange a call to discuss the benefits and how best to prioritise those clients likely to see the fastest return on investment.
