Microsoft Dynamics NAV is generally characterized as an ERP System. ERP stands for Enterprise Resource Planning. An ERP system is a set of integrated application software components designed to track and coordinate a wide variety of business activities, especially those involving products, orders, production and finances. An ERP system will typically include the following:
The Microsoft Dynamics Navision Financial Management Features:
- General Ledger
- Cash Management
- Fixed Assets
General Ledger is the central application area of Microsoft Dynamics Navision where all financial information is posted, summarized, and reported.
Centralize accounting information, posting specifications, and other core data efficiently. Work efficiently in a multiple-user environment, explore the most up-to-date financial data, and work according to a company’s needs—for example, by choosing whether an amount is shown per day, week, month, quarter, year, or accounting period.
- Generate complete audit trails
- Make reports using historical data
- Show amounts in an alternative currency on financial reports such as VAT, annual report and income statements
Track monetary accounts more efficiently. A company can control bank accounts directly from Microsoft Navision, keep them updated, and automate and control the entire check-writing process.
- Gain instant access to company’s current cash balance
- Use a consolidated approach for all cash transactions
- Maintain balances in local and foreign currencies
- Reconcile all bank accounts based on the account statements issued by the company’s bank
Gain a real-time overview that helps the organization save time, money, and effort organizing, managing, and accounting for the fixed assets and handling the insurance policies effectively.
- Gain an immediate overview of fixed assets
- Improve the management of fixed asset maintenance
- Improve the overall handling of fixed assets insurance policies
When it comes to processing payroll, Microsoft Dynamics NAV is easy to use, accurate and dependable. Best of all, the latter immediately calculates payroll totals and tax liabilities for your review and approval. Payroll supports both mid-sized and large organizations with an unlimited number of employees.
Before payroll can be posted all payroll headers must be calculated. All corrections must be made before posting because after posting the period is no longer accessible.
The following payroll verification aids (reports) are available to assist you in verifying payroll data before it is posted:-
• Pay slip – prints a test pay slip as it would print after posting
• Payroll Verification Report – prints all pay slips with signature and
Once all entries and values have been verified generate payroll general journals by clicking Payroll ,
Periodic Activities, Generate Payroll Journal Entries. Switch to the general template and batch specified in Payroll Setup to view and post payroll general journals.
Print Payroll Reports
INCOME TAX (Lookup Tables)
Lookup tables are used by payroll calculation function to look up rates based on certain parameters e.g. PAYE which is based on income tax table and taxable income, NHIF based on NHIF table or NSSF based on NSSF contribution rates.
Using lookup rates, a history of applicable rates can be maintained and the payroll can easily be amended when the rates change, for more details on rates amendment refer to “Calculation Schemes” section.
There are four types of look up tables: Percentage, Extract Amount, Month and Max-Min.
• Percentage - used to look up an amount and select a percentage in a specific range the amount falls into.
• Extract Amount - used to look up an amount and select an amount in a specific range.
• Months - used to look up a month and select an amount in that specific month.
• Max-Min - used to test an amount and adjust the amount according to max and min values.
To setup look up rates, click Payroll, Payroll Setup, Look Tables. Fill in the lookup details as below:-
1) Table ID - the system will fill in this field
2) Lower Amount - enter the lower amount in the range
3) Upper Amount - enter the upper amount in the range
4) Extract Amount - enter the amount you want to extract in that amount range
In case of look up type Month these field will be active
PAYROLL CODES (E/D Posting Groups)
E/D Posting Groups are used to group E/Ds (Earnings / Deductions) together to be able to post into the same accounts in the general ledger.
Each ED is assigned to an ED Posting Group if its Posting Type is set to G/L Account.
To set up E/D Posting Groups, in the Payroll menu, click Payroll Setup, E/D Posting Groups to open the following form.
For each posting group
• Fill in the ED Posting Group (max 20 characters)
• Fill in the Description (max 40 characters)
Mycrosoft Dynamics Nav will create payroll transfer files to allocated bank.
LINK TO KRA i TAX FORMAT
Mycrosoft Dynamics Nav will be customized to a format similar to KRA i Tax
Microsoft Dynamics NAV Procurement and Stores combines effective order and inventory management processes with advanced warehouse management functionality to deliver operational efficiency. Microsoft Procurement and Supplies will give your company the power to act more responsively to procurement demands and reduce inventory and distribution costs.
The following are the features available on Microsoft Dynamics NAV Purchase module.
- Placing of requests for purchasing (Requisitions)
Microsoft Dynamics NAV procurement module allows users of the system to key in requisitions. A company’s registered users on the system can place their requisitions online for approval.
- Applying procedures for approval and rejection of requests/requisitions
The system allows for definition of who can approve requisitions and the maximum value of approvals, other rules and procedures of approval e.g. budget availability can be implemented. The approval or rejection of the requisition is communicated to the user/person requesting through Business Notification tool.
- Detailed status-tracking of requests/requisitions, by current status of each line item in the request
The system tracks the status of requisitions and indicates whether approved or not with an indication of pending approvals and persons responsible.
- Preparing Request For Quotations (RFQ’s)
The system can be used to generate requests for quotations and RFQ’s can be emailed to multiple suppliers established in the supplier database.
- Collection and Evaluation of Vendor Quotes
The system allows recording of Vendor/Supplier quotations in response to RFQs and facilitates evaluation and selection of the quotes. The best quote can be translated into a purchase order (LPO).
- Consolidation of requests/Requisitions during the Purchase Order preparation step
The system allows combination of many requisitions into a single purchase order.
- Electronic document attachment for requests, quotes, orders among others
The system allows for attachment of scanned copies of supplier quotations and any other documentation in electronic format and association of attachment to documents recorded in the system.
- Email notification of related users upon arrival of the items in the purchase order
The system keeps track of deliveries made on the purchase order and notifies the users of arrival of items requested for
1. Definition of minimum required specification lines for new items, to avoid misleading purchasing scenarios
2. Tolerance management of quantity differences with purchase order and Delivery notes
- Performance evaluation of vendors
Vendor response times and other parameters can be tracked in the system
The system has multiple reports including but not limited to:-Outstanding/unfulfilled Purchase orders
-Inventory availability plan
-Rejected Requisitions with reasons for rejection
-Purchase order listing
-Goods received Notes (GRNS)
Increase sales and marketing profitability with Microsoft Dynamics NAV
Microsoft Dynamics NAV can give people in your organization access to accurate, up-to-date information and the tools to efficiently manage contacts, opportunities, and campaigns—while building customer relationships that help drive sales and encourage loyalty. Everyone in your organization can get the information they need to interact with customers in a profitable way and make smart decisions based on accurate information about every contact. You can also automate routine sales, marketing, and customer-service tasks to make your work environment simpler and more efficient.
Microsoft Dynamics NAV also helps you manage a broad range of other business areas according to your particular needs. You can add functionality as you need it and grow at your own pace.
- Equip people in your organization to manage contacts, opportunities, and campaigns efficiently while building customer relationships that help drive sales and encourage loyalty.
- Learn how the people in your organization can respond quickly to customer-service requests and use information from across your business to make profitable decisions about the costs, inventories, workloads, and financial returns of your service operation
Dynamics NAV 2013 Warehouse and Inventory Management Module.
can help you manage goods and space more effectively, reduce costs and waste, and gain control over warehouse operations. With access to real-time, accurate inventory data, your warehouse professionals save time locating items or performing physical inventories, sales representatives can keep tabs on stock availability, and buyers can maintain optimum stock levels while minimizing carrying costs.
Below are Warehouse Management Functionality options to increase supply chain visibility into warehouse operations:
- Warehouse management: Tightly integrate order processing, manufacturing, and warehouse functionality to help optimize layout and space utilization, manage replenishment, and handle multiple orders at once. Incorporate a variety of pick prioritization methods, including first in/first out (FIFO), first expired/first out (FEFO), or last in/last out (LILO), into directed pick, movement, and put-away decisions.
- Internal pick/put-away: Pick or put away items and debit or credit inventory records independently of purchase receipts, sales, or source documents so you can maintain accurate inventory records even when accessing items for testing, display purposes, or other internal or operational needs.
- Automated Data Collection System (ADCS) support: Improve visibility into inventory, and help increase the accuracy and efficiency of your warehouse management—picking and putting away of items, physical inventory counts, and moving items from bin to bin—with ADCS.
- Item tracking: Trace lot or serial numbers to quickly determine where items were purchased, processed, or sold. Help reduce waste and limit carrying expired inventory with support for FEFO handling.
- Item costing: Understand item costs throughout the production process, including inventory, work-in-process (WIP), and cost of goods sold (COGS). Break down costs according to categories such as materials, capacity, subcontracting, and overhead. Tighten control of closing processes, improve batch job costing, and streamline reconciliation with the general ledger.
- Shipping agent management: Control your distribution by relating shipping agents to the services they offer.
- Returns management: Process returned inventory and account for additional costs. Automatically organize credit memos, replacement goods, returns to vendors, and partial or combined return of shipments or receipts. Exact cost reversal helps increase inventory accuracy.
- Cycle counting: Determine the counting frequency per item or stockkeeping unit to help increase inventory accuracy and meet shipping deadlines.
SACCO-Addon module in Microsoft Dynamics NAV frees you to focus on your business. The key features of this module are:
Manages Members' Personal Information
Capture Members and clients personal details in depth. Include passport photos and next of kin data to the identification details.
Income & Expenses
Manage SACCOs income from different investments, members activities with ease. Expenses Module facilitate smooth tracking of expenses.
Facilitate ease management of guarantors, interests, penalties, processing fees, and reducing balance repayments.
- Banking Reconciliation
Perform bank reconciliation for multiple accounts with ease.
The Integrated Pension Administration System (IPAS) is a solution that has been customized for the automation of the core business operations and processes of pension administration and general financial management. IPAS is a comprehensive pension administration solution that encompasses an extensive member records management, benefits computation and business analytics and reporting facility with full integration with mainstream financial management to ensure the best solution to pension administration needs.
The system is based on the architecture of the Microsoft Dynamics Navision (NAV) system which is an enterprise-wide resource planning platform. In this regard, IPAS functionality can easily be integrated seamlessly to the other core solution modules of NAV such as financial management, human resources management and payroll granules.
The stable financial management granule of the NAV system serves as the backbone of the IPAS system, allowing for automation of mainstream financial processes. Integration with the financial management module allows for easy setup of the chart of accounts, general journals for posting of entries, budgets for different schemes, creation of account schedules, selection of the currency and exchange rates to use among other rich features and functionality.
BENEFITS OF THE ADMINISTRATION MODULE
The integrated pension administration system has functional capability to support the core business processes and compliance requirements for pension administration.
Key functionalities of the Benefits administration module
The Benefits administration module of the IPAS system has the following functional capability:
1. Pension scheme information management – IPAS facilitates tracking of all the information associated with a given scheme such as the scheme name, registration certificate number, vesting period, pension category of scheme (either Defined benefits or Defined contributions scheme), contact details, bank details etc. The system has a simplifies scheme setup facility that allows for definition of the benefits configuration matrix associated with a given scheme such as actuarial / cash factors table, retirement age setup, member posting groups, interest rates, accrual fractions, commutation fractions, guaranteed periods and the pay points setup.
2. Scheme compliance details – IPAS allows for setup and management of pension scheme compliance information, as may be stipulated by oversight organizations such as the Retirement Benefits Authority (RBA). The system has provision for capturing compliance information such as scheme registration date, registration certificate number, status of the scheme regarding filing of trustee deeds and rules, scheme auditors, tax compliance certificates as well as actuarial valuation information for a particular pension scheme.
3. Scheme trustee management – IPAS has provision for capturing interactions and communications between the pension administrator and the trustees, for instance annual general meetings held, all trainings conducted over a specific period e.t.c.
4. Member register – IPAS manages the registration, update and tracking of scheme member details such as pension number, gender, name, date of birth, date of joining or leaving the scheme, monthly contributions, next of kin, member contact details, professional category etc. The member records facility is extensible hence allowing specification of any required information for each member. This sub-module can easily be linked to other core modules such as human resource management.
5. Tracking of scheme membership cycle – IPAS system has dedicated sub-modules for tracking full membership cycle, from the time of member registration/enrollment, active membership, deferred membership and pensionable membership. The system also provides for flexible transition of a member from one membership status to another in accordance to pre-defined scheme setup parameters.
6. Tracking inward and outward scheme movements / transfers – The system allows for both entry and exit to/from a scheme. This facilitates analysis of inward scheme transfers as well as outward scheme transfers. For inward movements, the system records membership information and capital account history from the previous scheme. For outward scheme transfers, IPAS indicates the transferrable capital account amounts on exit from the current pension scheme.
7. Management of periodic member contributions – IPAS allows for importation and tracking of periodic member contributions (employee and employer portions) as well as any other additional / voluntary contributions. The system allows for importation of contribution data from Microsoft Excel spreadsheets. IPAS does relevant validations of the data before allowing its import. The end-user has full control of the imported data which can be verified (using Preview test report functionality) further before posting is done to update the relevant G/L accounts. The system tracks all details associated with the remitted contributions from both the employee and the employer e.g. amount
contributed, effective date, associated cheque number, transaction date e.t.c
8. Interest computation engine – IPAS system has a comprehensive interest computation facility that tracks earned interest on member contributions (employee and employer portion). The system has a simplified setup window for the declared annual interest rate applicable to a scheme for a specific year.
9. Tax computation facility – The integrated pension administration system provides for setup of taxation tables applicable to pension administration. The tax computation facility is flexible enough to accommodate different tax tables with specification of effective dates for the tables. Each tax table has lines that define the tax bracket, tax exempt amount/limit, applicable tax amount for each bracket among other parameters. During member exit processing, the system references the tax computation setup to determine the non-tax allowable amount, the taxable amount, the tax payable and deferred tax applicable to a particular member. Since IPAS in based on the NAV platform, tax computation is mapped to the relevant tax account in the chart of accounts in the financial management granule.
10. Member exit processing facility – IPAS has a dedicated member exit processing sub-module used to compute final benefits for a member on exit. Based on the reason for exit, the system computes the gross amount payable, the taxable amount, the tax payable and the net payable amount. The member exit sub-module allows for generation of member withdrawal worksheets and discharge statements with varying details depending on the scheme category e.g. total contributions made, tax exempt amounts, earned interest, surrender amount, employee entitlement amount, monthly annuity amounts, unutilized tax free amounts etc.
11. Reconciliation – The system simplifies reconciliation of the member balances reflected by the system against total amounts of the received cheques.
12. Document linking facility – IPAS allows for attachment of any scanned documents for more controlled access to such documents. Sampledocuments that may be attached include scheme registration certificates, copies of trustee deeds and rules, tax compliance certificates e.t.c.
13. Report generation - The real-time analytic processing and field filter functionalities that are embedded in the integrated pension administration system facilitate the generation of accurate periodic reports such as:
- Scheme membership listing with key details of all members of a given scheme
- Member contributions schedule
- Closing balances schedule
- Periodic Member benefits statement
- Member withdrawal worksheet
- Consolidated Fund value statement for a given scheme reflecting opening balances, total contributions, fund expenses, benefits paid, withdrawal surrender values and the net interest to be allocated.
- Quarterly report submitted to the Retirement Benefit Authority (RBA)