The finance professional’s perspective on NAV dimensions (part 3 of 15)

As the finance person for your company who will make decisions about dimensions, you bring a unique perspective to how dimensions can be valuable in your accounting department. Some of the concerns you have will surround reporting requirements, some will pertain to consistency and control, and others will relate to efficiency. Let’s go through each of those concerns.dimsfinance

Efficiency

As a corporate controller, I’m concerned that my staff work in an efficient manner. In regard to coding invoices or general ledger entries, this means they shouldn’t need to look up a lot of information and they don’t engage in any more data entry than they absolutely have to. When choosing how dimensions will be set up in NAV, you can make some specific choices regarding how data can be populated. Do you want the coding to come in as a default value? Are your coding relationships rule-based enough to make that possible? Are there some things you can populate to always default so the coding appears as if by magic 100% of the time and an employee never needs to be responsible for making a coding decision?

Consistency and Control

In the same way that I’m a stickler about operating efficiently, I’m even more so about having consistency and control. If you ever work with me, at some point you will hear me say, “we do not allow optional data”. This means we don’t gather dimensions for some data and not for others. I use the default value code mandatory a lot in my system. This setting will force a dimension to be populated whether it is through a default value or by a person, but it will never allow the data to come through with a blank value, creating holes and reduced value data in my reporting.

Reporting Requirements

Ultimately, you’re using dimensions in your ERP system so you can get great reporting out of it to make important business decisions. As your company’s finance professional, you know what you’re reporting on now. Take a minute to think about that. Is what you’re reporting on still relevant or is it what you’ve always reported on? Has your business changed? Does your reporting need to change too? Think about what your business really needs to see in its reporting and structure your dimension choices to match.

Keep reading this month as we continue our series, 15 Days of NAV Dimensions.



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