As a Controller, the final step in your journey to becoming a Business Central / NAV guru is to understand the complexities of intercompany transactions, consolidations, and multicurrency processing. As confidence in your consolidation setup and processes is essential for your financial reporting, we’ll walk through the setup and processing of multiple companies as well as some common, and not so common challenges with consolidations and their related solutions. We’ll also identify the financial reporting needs of your organization and how consolidations can help. If you use multiple currencies for your companies, you’ll gain confidence in the correct setup, understand the right (and the wrong) way to adjust exchange rates, and deal with customers and vendors in other currencies seamlessly.

Class agenda

Day 1 (4 hours) – Intercompany

• Intercompany Setup
• Intercompany Purchase Order
• Intercompany Sales Order
• Managing the In and Out Boxes

Day 2 (4 hours) – Consolidations

• Consolidation Setup
• Consolidation Processing
• Elimination Entries
• Consolidation Reporting

Day 3 (4 hours) – Multicurrency

• Currency Setup
• Manage and Adjust Exchange Rates
• Multiple Currencies in Sales and Purchases
• Additional Reporting Currency

Who Should Attend?

Controllers, CFOs, or aspiring Staff Accountants from companies that process intercompany transactions, manage consolidations between entities, and/or manage currency translations and reporting.

Learning Objectives:

At the end of this class, participants will be able to:

• Explain best practices for the setup and handling of intercompany transactions
• Set up and process consolidations and eliminations
• Set up and manage multiple currencies
• Process foreign currency payables and receivables
• Re-value foreign currency vendors, customers, and bank accounts

Field of Study: Accounting

Program Level: Intermediate

Prerequisites: Successful completion of the Advanced Controllers Boot Camp or attestation of proficiency with the topics included.

Advanced Preparation: Each student will receive via email connection instructions to their individual virtual classroom link and hands-on practice environment shortly before class. Connections to both resources should be tested before class. We recommend using a second monitor while attending class.

Delivery Method: Group Internet-based

CPE Credits: By participating in this class, you are eligible to earn up to 12 CPE credits which will be distributed following class completion. In order to be awarded the full credit hours, you must notify your instructor of your intention to request credit before the start of the first class. To receive CPE credit, you must be present and actively engaged, which will be verified using polling questions and other means. You will not receive CPE credit for any portion of the class that you do not appear fully engaged.

Version: This class is taught in Microsoft Dynamics 365 Business Central.

Learning environment: As experienced trainers of adult learners, we understand how to make training “stick”.  We use proven practices to make sure you retain what you learn and are fully equipped to immediately apply what you discovered in class. 

Refund and Cancellation Policy: Please refer to our Refund and Cancellation policy here.