Understanding your technology needs is what drives us to continuously develop and provide a growing end-to-end solution.
With the increasing demands of organisations managing multiple legal entities, Professional Advantage (PA) developed an extension that will work together with intercompany transactions in Dynamics 365 Business Central. Master Data Management in Microsoft Dynamics 365 Business Central can accelerate accounting processes and help ensure data accuracy and consistency across all subsidiaries. Adding new companies with identical chart of accounts and master records can be done quickly using the Template company. With this centralised template company, MDM in Business Central allows businesses to manage and roll down changes across all companies on a timely manner. You can nominate which data you want to maintain centrally and which area you want to operate separately across subsidiaries and the template company.
Another extension PA has developed is the Bank Statement Import. With numerous bank statement formats available from various Australian Banks, PA has configured and mapped the information from the bank statement file to the fields in Business Central from the following banks:
- Commonwealth Bank of Australia (CBA).
- National Australian Bank (NAB).
- Australia and New Zealand Banking Group Limited (ANZ).
- Westpac Banking Corporation (Westpac).
- St. George Bank.
- Macquarie Bank Limited.
- Cuscal Limited (Cuscal).
Once you have set up electronic payments, you can pay your creditors and employees directly into their bank accounts. Electronic bank files contain the payment information for your bank to process, including your bank details, your payees’ bank details, and amounts you want to pay. With this sensitive information easily accessible with room for potential data manipulation and vulnerability to cyber fraud, PA designed Secure EFT SharePoint Integration. It prepares payments created from Business Central in a secure environment that can be configured to grant a read-only access to authorised users who will then upload the file in the bank. This extension reduces the risk of security vulnerabilities, and it allows your team to operate more efficiently with confidence.
Every time a vendor submits their bank details, Workflow for Vendor Bank Account is another layer to allow you to go through an approval to prevent payments from going to the incorrect account. Until these changes are approved, users will not be able to process payments against the bank account.
