Do you maximize Dimensions as a tool in your BC system?
It can significantly cut down the complexity of your chart of accounts.
For those with segmented charts of accounts, Dimensions are a game-changer as they can help you focus on areas where there's a lot of breakdown for one account, like revenue or sales. So, think of dimensions as your little guardians guiding you through the world of accounting. Get the most out of them and simplify your life!
Learn more in this new episode of 𝗚𝗲𝘁 𝗬𝗼𝘂𝗿 𝗡𝗲𝘄 𝗩𝗶𝗲𝘄 ▶
✔ Dimensions add a whole new aspect to your filtering capabilities in the BC system. So what are Dimensions exactly? I like to look at them as data tags that you attach to your posted transactions. It's actually pretty straightforward. These data tags accompany each and every transaction that gets posted into the system.
✔ Reducing complexity in your chart of accounts will lead to efficiency within your accounting department. Your team won't have to check with colleagues on how to code things—it's all taken care of! As the system handles it all, it effectively prevents any erroneous or 'garbage' data from filling up your dimensions. So, you have automation, control, and accuracy—all in one!
✔ Setting up Dimensions can be a bit tricky after your system goes live. We personally suggest setting it up during the original configuration of your system. It's not entirely impossible to do that after the system is live, but what makes this a tough task, is although you can set them up later, you might miss out on the chance to attach these data tags to your migrated and new data. This could require a good deal of effort.
✔ We can help set up Dimensions in your system to do the heavy lifting for you. We're all in to guide awesome companies like yours to adapt and perfect this much-needed tool. During our sessions, we take into account the flow of accounts, financial reporting, and system efficiency. The purpose? To assist you in making the right dimension choices for your business.
Essential points covered in this episode:
[00:00:00] Introduction
[00:00:11] Why do companies put off using Dimensions until Phase 2 after their go-live?
[00:02:07] Dimensions can absolutely be poorly designed - so please don't do this on your own
[00:02:57] Reduce a tremendous amount of complexity in your chart of accounts
[00:04:04] Achieve more control and accuracy in your postings
[00:05:50] Fulfill your daily research needs with dimensions
[00:08:59] What to prepare for in Phase 2
#NewViewStrategies #ProcessImprovement #Dimensions
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About Kerry Peters & New View Strategies:
Kerry Peters is the CEO of New View Strategies, a company known for solving mission-critical business problems and a straight-talking, experiential approach to training and process improvement for Microsoft Dynamics 365 Business Central and Dynamics NAV. Our relationships are long-term, and our clients report that they have boosted efficiency, solved business problems, and had fun in the process!
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