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Microsoft Dynamics AX Financial Statements

Dynamics AX Financial Statements

One of the key features of Dynamics AX is the ability to create financial statements easily without the need to call IT. This task can be accomplished through Management Reporter.

Management Reporter is integrated with MS Dynamics general ledger, eliminating the need for an additional connection to the primary data source. With the feature, users can access financial reports on the status of the company in real time, create customized financial statements and store the files securely in a report library.

Dynamics AX Financial Statements

Overview of the Management Reporter

a) Reusable Building Blocks

  • Use the reusable Column, Row and Report Tree to dissect data in different ways to generate the information you require. You can also organize your definitions in folders by user, category, function or type.

b) Native Dimension Report

  • Instantly create reports that use Dynamics AX dimensions and members. You can also make changes without interfering with the integrity of the current report definitions.

c) Interactive Report Viewer

  • Visualize data quickly by creating charts based on custom report columns and rows.
  • Use the interactive report viewer to drive decisions from the report data.
  • Easily collaborate on reports with Microsoft Lync.

d) Drill-Down Capabilities

  • Generate summary reports in which you can drill down to transaction-level and account-level details without the need for generating separate reports. To get more information on a specific transaction in a report, you can drill down to related information in MS Dynamics AX.

e) Financial Report Collaboration

  • Schedule reports to be generated based on your desired timelines.
  • Create read-only reports in Excel (.xlst) or .xps format.
  • Publish reports to multiple locations, including Microsoft SharePoint.
  • Email reports using Microsoft SharePoint alerts.

Key Features of Management Reporter

Management Reporter makes it easy to generate and access financial reports thanks to its key features that include:

i)Integration with the general ledger (GL). Management Reporter integrates with the general ledger. This enables organizations to quickly and easily create accurate, up-to-date reports.

ii)Enterprise-grade statutory consolidation functionality. Organizations operating in different regions or geographical areas can carry out reconciliations and internal eliminations, and still generate consolidated reports.

iii)Multiple ways to access reports. Users can create secure reports, which are stored in a report library for easy viewing or distribution across the organization. The reports can be exported to either Excel or RDL, without the formatting being affected, or viewed via a native viewer. Users can also access and manage the reports through SharePoint®.

iv)Advanced financial intelligence. Users can access different views of the business by creating hierarchies. For instance, they can create legal, management and soft consolidated reports. When the reports are combined with comparative data such as posted and unposted, debts vs. credits, year to date amounts, forecast to actual, year to year, etc., it’s becomes easy to identify business trends.

v)Easy creation and customization. Users can easily create important financial reports, including income statements and trial balances, in a few steps using the report wizard. Management Reporter also has additional templates that simplify the creation of cash flow statements and balance sheets.

Benefits of Management Reporter

Management Reporter comes with easy-to-use and powerful reporting functionality that provide the following benefits:

i)Enhanced partnership with IT. Users can now generate, format and customize financial reports for the business on their own rather than relying on IT. Management Reporter frees IT, leaving them with more time to concentrate on ensuring the organization has the right infrastructure and data to access richer, more targeted information.

ii)Strong support for regulatory compliance. Management Reporter enables organizations to be compliant with the Sarbanes-Oxley regulations, international financial reporting standards (IFRS), and the Generally Accepted Accounting Practices (GAAP). Transactional reporting and centralized data management make it easy to achieve regulatory compliance.

iii)Easy and secure report distribution. Users can easily distribute standard and dynamic reports, including management reports, financial statements and ad-hoc analysis to decision makers across the company.

iv)Cross-enterprise business view. Through Management Reporter, users can consolidate financial information from general ledger companies or different financial models to achieve greater visibility.

One of the key pillars of performance management is performance reporting. Management Reporter makes it easy for users to perform variance analysis, display business results, compare projections and consolidate data from different general ledgers to make timely and relevant decisions.

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