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Financial Reporting in Microsoft Dynamics AX

Microsoft Dynamics AX 2012 offers organizations with complex organizational structures a flexible financial reporting solution. Management Reporter supports the creation of statutory and operational reports based on general ledger data and is the recommended solution for Microsoft Dynamics AX 2012. Management Reporter is used for the creation, distribution and analysis of financial statements and other financial reports and is included in the Microsoft Dynamics AX 2012 solution.

Management Reporter empowers decision makers to provide real-time insights into organizational results allowing business users to take action and align employee behavior with overall goals. 

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Microsoft Dynamics AX 2012 Financial Statements Using Management Reporter

Management Reporter for Microsoft Dynamics ERP is a powerful Corporate Performance Management (CPM) solution that provides real-time financial reporting to help you achieve greater visibility into the financial status of your organization.

Benefits of Management Reporter:

  • Get rapid results without IT help:
    • Financial professionals, without help from the IT department, can design cost-effective, high-quality reports in minutes to streamline reporting and analysis, and respond quickly to new business opportunities and market trends.
    • Requires limited training for financial professionals.
  • Build custom reports based on Microsoft Dynamics AX 2012 general ledger data:
    • Slice general ledger information into rows, columns, or hierarchies and get the actionable information you need. Use robust formatting such as flexible page design and the ability to add company logos.
    • Report on general ledger information from other ERP and accounting systems by using Microsoft Excel interoperability.
    • Report on multiple Microsoft Dynamics AX companies in a single financial report.
    • Dynamically align reporting trees with Microsoft Dynamics AX organizational hierarchies.
    • Report on Microsoft Dynamics AX 2012 budget reservations (pre-encumbrances/encumbrances) based upon budget funds available calculation as defined in budget control configuration.
  • Increase productivity with familiar tools:
    • Get people up and running quickly with a familiar interface based on Microsoft Office.
    • Generate reports automatically to monitor performance in real time, close books quickly, and improve decision-making across the organization.
    • Drill down from a financial statement to account and transaction detail, then drill further to related transactions in Microsoft Dynamics AX.
  • Enhance collaboration and sharing:
    • Improve communication across your organization by distributing reports using multiple formats, distribution techniques, and document bundling to help people access the information they need quickly and conveniently. You can even schedule reports to be generated on a recurring basis.
  • Help safeguard financial data:
    • Tailor security settings for reports so that only people with the appropriate permissions can access sensitive business information.

With Management Reporter, you can create boardroom-quality reports without IT assistance; use Microsoft Dynamics AX dimensions to create customized financial statements; and use a centralized report library to provide secure report distribution and storage. Management Reporter works directly with the Microsoft Dynamics AX general ledger, eliminating the need to create a custom connection to your primary data source.

Adding Dimensions to Columns in Financial Reports

Did you know that it is possible to create statements with financial dimensions expressed in different columns?

I recently discovered this interesting feature of Microsoft Dynamics AX while I was trying to help a customer with financial reporting focused on different financial dimensions. In our situation, the client is a medical institution with multiple clinicians on staff. The client needed statements calculated per each clinician so they can compare financial results during certain periods of time. For this client, Clinicians are custom made financial dimensions.

As in every other statement, the date intervals and raw definition have to be defined prior to creating the statement. Once defined, we have to generate financial statements and define their basic structures (General ledger>Setup>Financial statement>Financial statement). In the upper pane of the screenshot below, you can see that we give the statement a name and description - and then we can connect it to primary and secondary dimension sets (in this example, we only used primary dimension sets).

In the lower part of the screen, we can create columns that are going to show up on the statement we print out. In this client case, we set the account number in the first column and the account definition in the secondary column. Now, in our next three columns (or more), we can add our clinicians (or dimensions). For each of those columns we choose “current” as “Column type” and setup desired time intervals in “setup” tab.

After the statement structure is created and the columns that will present dimension data are defined, we can go ahead and add dimensions to them (General ledger>Reports>Transactions>Financial statement). The first tab is “Financial statement” tab, and under “Identification” we chose the financial statement we created before, and add to it the dimension set and row definition.

Under the “columns” tab we choose one of the columns we setup before (in General ledger>Setup>Financial statement>Financial statement). Click on the "Select" button in the upper right corner.

A new window will open. The upper pane is a graphical representation of tables and their connections. In lower pane we can add the desired dimensions to the chosen column (in our case that was one of clinicians). First we have to pick the “Field” (custom made dimension - Clinician) and then the “Criteria” (desired clinician to be represented in that column).

This is a great feature to compare and review different dimensions and it can be a great resource when creating complex financial reports.