Season 2, Episode 2 : How does Business Central enhance the customisation of financial reports for clients, and what makes this feature valuable for tailoring financial information?

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How are your clients currently making business decisions? How well can they customise their financial reports? Well, if they’re using Xero, then you’re probably thinking they can run decent reports and make informed decisions so it works great for them and whilst this will be the case for some of your clients, for those that need more advanced reporting, Xero has its limitations as it only supports two tracking categories whereas Business Central allows for an unlimited number of dimensions. So, let’s dive in to get a better understanding of how Business Central enhances the customisation of financial reports for clients and what makes this feature so valuable. I’m Laura at Creative and this is Dynamics Unwrapped…

Dimensions can be thought of as filters or categorisations that you can assign to entries to provide more detailed analysis of your financial data. They allow you to segment information based on different aspects such as departments, salespeople, projects, IP, locations, and time period, and you can even have multi-tiered dimensions. By using dimensions, you can gain insights into specific areas of your business and generate more detailed and customised reports that truly reflect your business dynamic.

Also, dimensions seamlessly integrate into pivot tables within Business Central, facilitating even more granular and customised analysis of your financial data.  

But why is this so important? Well, it allows management to answer questions like when and where is this product selling the most? Are we wasting resources in certain areas? Are these salespeople best suited to selling this item or should they be selling a different product? Are we spending too much on certain materials? Should we focus our efforts on this IP rather than this one? The key here is that dimensions allow for better decision making for your organisation.  

So, while two tracking categories in Xero may work for some organisations, businesses seeking a more nuanced perspective of their financial data would find Business Central more favourable. Its user-friendly interface allows you to effortlessly slice and dice your data on the fly, providing a robust and flexible reporting solution. And, do you know what else is great about the system, intercompany and company consolidation. So, be sure to keep an eye out for the next video.  

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