Microsoft Dynamics NAV Financials supports multiple currency functionality in all modules, not just the general ledger. Users are able to display general ledger, vendor, and customer balances in their base currency as well as an alternate reporting currency, with online inquiries and printed reports showing side-by-side currency amounts for account comparisons.
Thus, companies will be able to issue reports, such as financial statements in their base national currency while maintaining, for example, USD or Euro as the home or roll-up currency. Microsoft Dynamics NAV’s multi-currency functionality provides the ability to restate G/L balances in multiple currencies, with online inquiries and printed reports showing side-by-side currency amounts for account comparisons.
Multi-currency allows you to:
- Transact business more efficiently with customers and partners all over the globe.
- Expand your business internationally.
- Offer better service to international customers and vendors.
- Help your multilingual staff work more efficiently.
- Meet the requirements of EMU-zone countries.
- Support an unlimited number of currencies and 198 languages.
Dynamics NAV provides both sales and use tax functionality in the sales and purchasing modules. Flexible configuration allows different taxable statuses and tax rates with different combinations of customers and products or services sold.
Configuration can be setup at the detailed jurisdiction level or summarized by tax areas and reporting is also provided at various levels of detail.
Making Sales Tax Less Taxing:
Optionally, externally maintained tax tables are seamlessly integrated with Dynamics NAV to automate the sales tax compliance function for your business – speeding data entry time, improving accuracy and streamlining returns.
Much more than a sale tax calculator, a web-based sales tax management service can work behind the scenes to instantly validate the customer’s address, provide a correct sales tax calculation for each transaction, automatically generate pre-populated returns, and furnish up-to-the minute, detailed reporting.
Optional services include filing sales tax reports in all 50 states.