Financial tracking facilitates better communication

////Financial tracking facilitates better communication

Programs such as the Microsoft Dynamics NAV have recently helped users to keep track of their costs while providing reporting for a larger audience. Ohio Treasurer Josh Mandel and State Rep. Mike Dovilla have pitched the idea of establishing a spending database that would allow the public to view the breakdown of the data.

Using the database, the state would not only be able to keep track of each transaction, but it would also help Ohio's government to remain transparent before the public. Each expenditure throughout the departments and agencies would be posted along with the date it was made and the vendor who received the money, according to The Plain Dealer. While the database has received a lot of support, the legislation has yet to be passed.

Many companies have also turned toward the tracking software to keep track of their finances. To balance the use of several legal firms, the CEO of Astor & Black Custom Clothiers established a cloud-based application to keep track of all billed attorney hours. The program would track the bill in real-time and allow clients to more effectively communicate with their lawyers, according to The Columbus Dispatch. Through this solution, the client could better predict expenses and be sure that the numbers matched between the two parties.

To learn more about Microsoft NAV solutions, visit the Microsoft Dynamics NAV website today.