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Microsoft Dynamics 365 Business Central is a modern ERP that includes everything for multi-entity/multi-location accounting or financial management (General Ledger, Accounts Payable, Accounts Receivable, Cash Management, and Fixed Asset Management), as well as operational modules for Sales (Quote to Cash), Purchasing (Procure to Pay), Inventory Management, Assembly/Production/MRP, Project Accounting/Job Costing and Project Management, and Service Management. There is even functionality for Relationship Management for tracking Contacts, Opportunities, and Marketing campaigns. The cloud/online version of Business Central includes automatic bi-annual major upgrades, patches, and bug fix updates as they become available. There are also native integrations with productivity tools, like Outlook and Teams and Excel and Word; however, a Microsoft 365/Office 365 license is required to use those productivity tools.

Yes and No. Yes, if you have implemented ERP solutions before (Microsoft Dynamics or otherwise), or you have a high aptitude for learning technology and have accounting knowledge that can guide setup decisions, you could implement Dynamics 365 Business Central on your own. Do you have the experience or knowledge necessary? Do you have the time to devote to this effort? This is no small endeavor, as there are setup screens and configuration that must be done in order to use Dynamics 365 Business Central. It is our job to stay current on the technology, and we combine that with consultants that were accountants and/or CPAs to deliver optimal systems for our clients. This is what we do all day, every day, so we are efficient, and we know the minimum amount of setup required to run your business on Dynamics 365 Business Central, which is why we can offer fixed-price solutions. You are the expert on your business, we are the experts on the technology, and together we make an unbeatable partnership for success. Often, we identify tasks or activities that our clients can execute (data migration is an example) and train and support those resources in those tasks. This is beneficial in two ways: 1) You can reduce cost for the project, and 2) You are equipped with the knowledge to further support those tasks and the system in the future.

If you have any “multi” requirements (multi-entity, multi-location, multi-currency, etc.), basic accounting software struggles to manage those. If you need the ability to track information more granularly or generate more detailed reports, you need something more robust than your basic systems. If you care about user security permissions and are scared about money fraud, you should switch to a GAAP-compliant system.

Microsoft Dynamics 365 is the terminology from Microsoft that denotes cloud or online business applications. There is Dynamics 365 Business Central, Finance and Supply Chain Management, Customer Engagement, HR, and Commerce, all hosted by Microsoft across their global data center footprint. The benefits of Microsoft hosting these applications relates to IT infrastructure and ongoing maintenance of the systems. All the required infrastructure is located in highly secure data centers, including physical and cyber security systems and protocols that ensure your company’s data is safe. Microsoft also manages all software updates and upgrades on your behalf, so you are always on the latest version and can take advantage of new features and functionality, further enhancing your security posture. Everything is controlled using Azure Active Directory (AAD) for a single sign-on experience across all of your Microsoft applications.

Dynamics 365 Business Central is an excellent QuickBooks replacement and has several strengths over QuickBooks. Business Central has almost 800 features that QuickBooks Online Plus does not have. Business Central has all the functionalities to address QuickBooks’ weaknesses. It goes above and beyond when it comes to scalability and reporting.