There is need for an accounting software for any business. The need is all the more for medium type of business. Because without proper bookkeeping, your booming business can take a nosedive towards bankruptcy. Accounting is an important component in any business's success now a days. It pays a prominent role in any financial decision you take-from purchasing and selling, production, inventory to determining salaries.

One such product for a medium level of business is Microsoft's Dynamics NAV. It is designed for those growing companies where higher levels of customization and more complex business management functionality is essential ingredients for success.

Microsoft Dynamics NAV is essential for those multi national companies whose operations or customers span  international borders. It is capable of tracking intricate processes. It integrates critical financial, manufacturing, distribution, customer relationship management and e-commerce functionality. By that way, it can streamline processes, improve decision-making and help workers accomplish more each day.

The Microsoft Dynamics NAV is capable of delivering state of the art accounting software for your business. The main benefits of Microsoft Dynamics NAV are discussed below.

1.The Microsoft Dynamics NAV drills down to the details. Its drill-down functionality and on-the-fly filters will allow you to access detailed information quickly and easily. You can set up the chart of accounts exactly as you want it, with data from both the current fiscal year and previous years.

2. The Microsoft Dynamics NAV is known for its security and business rules. It is very secure as it limit access to the database so that post data securely. User access right is set up based on the duties of the user. The user either can be given the right to alter/delete/add entries or he can be blocked from certain areas of the database completely.
 By using the business rules, you can automate procedures and policies in your organization. The rules can be applied to individual accounts, account types, dimensions, VAT accounting and many other areas.

3. By using Dimensions on posted entries and budget entries, you can have the ability to monitor how individual units — for example, a department or region — are performing and to compare performance with other units, such as previous periods and budgeted amounts.

You can create an analysis view that gathers all G/L entries for departments operating in specific geographic areas, excluding those entries relating to a particular sales campaign. By that you can investigate relationships and monitor performance.
Thus the Microsoft Dynamics NAV is an important accounting tool for a medium level of business.