Microsoft Dynamics 365 Business Central is a comprehensive business management solution. It was previously known as Microsoft Dynamics Nav (Dynamics Nav) and empowers small & medium-sized businesses (SMBs) by streamlining their everyday business activities. Moreover, it is easy to configure & enables them to manage their core tasks seamlesslyfor instance, Sales, purchasing, inventory, warehouse, planning, accounts, etc.
Therefore, in this blog, let us dive deeper & explore the Purchasing functionality of MS Dynamics 365 Business Central.
Create Purchase Invoice/ Purchase Order
With MS Dynamics 365 Business Central, businesses can easily create purchase invoices or purchase orders. Thus, it helps them in recording the costs of their purchases. Moreover, it also allows them to track accounts payable. Similarly, it uses purchase invoices and purchase orders for dynamically updating the purchase levels. By doing so, it enables them to minimize the inventory costs. At the same time, Dynamics 365 Business central also provides options like time units and facilitates the purchase of services.
Request Purchase Quote
MS Dynamics 365 Business Central allows businesses to create purchase quotes. Purchase quotes indicate the request for a quote from the Vendors. Further, they can convert it into a purchase order/ purchase invoice to process the purchase.
Posting Purchases
Microsoft Dynamics 365 Business Central offers various posting actions on a purchase document. For instance, post, post & print, preview posting, test report, post batch, and so forth. By posting a purchase document, businesses can easily update the general ledger, item ledger entries, resource ledger entries along with the vendors account. Moreover, before posting purchases, they can print a test report. Consequently, businesses can access all the relevant information in the purchase order and check for errors.
Correct or Cancel Unpaid Purchase Invoices
With MS Dynamics 365 Business Central, the businesses can correct or cancel unpaid purchase invoices by automatically creating a credit memo. While on the one hand, they can cancel the purchase invoice. On the other, they can create the purchase invoice again and accordingly make corrections.
Combine Receipts on a Single Invoice
Microsoft Dynamics 365 Business Central offers intelligent features like the Combine receipts function. For example, it allows businesses to invoice multiple receipts from the same vendor.
Process Purchase returns or cancellations
Microsoft Dynamics 365 Business Central enables businesses to process returns or cancellations by creating and posting a purchase credit memo. By doing so, they can specify the requested change regarding the original purchase invoice. Moreover, businesses also have the option of creating the credit memo directly from posted purchase invoices. At the same time, they can also create a new credit memo by using copied invoice information.
Receive & Convert Electronic Documents
MS Dynamics 365 Business central provides features like OCR (Optical Character Recognition Service) service. As a result, businesses can create purchase invoices automatically. They can first convert the PDF invoices from Vendors into electronic documents. After that, by using a workflow, the electronic documents are converted into purchase invoices.
Manage Blanket Purchase Orders
MS Dynamics Business Central provides businesses with the Blanket Purchase Order Feature. It helps them in effectively managing large orders.
