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FAQ - Frequently Asked Questions Dynac™ Q: What is Dynac ? DynacBudget™ Q: What is DynacBudget ? DynacForecast™ Q: Which DynacForecast module is right for my company ? DynacViews™ Q: What is DynacViews ?
A: Dynac is a suite of budgeting and reporting software applications with never-before-seen power - in business planning, forecasting, consolidation and reporting. It is developed specifically with non-accountant owners of small-to-medium businesses in mind - recommended and used by accountants - but scalable to business of any size and type. Q: Do I need an accounting background to use Dynac ? A: ABSOLUTELY NOT! Dynac was designed with the non-accountant in mind. In fact, the concepts were developed by Gary MacFarlane, Founding Partner of Dynac, during his tenure as a business owner to satisfy his needs as a non-accountant. Gary was able to manage all aspects of his businesses (ranging in sales from $7 - $35 million) without an accountant on staff. With the assistance of a bookkeeper and the early editions of DynacBudget Gary was able to complete detailed one-year budgets and five-year financial plans for investors, financers, shareholders and department managers. Q: I already use an accounting software program that has a provision for budgeting. Why would I need Dynac ? A: Most accounting software and ERP (Enterprise Resource Planning) programs, from Simply Accounting to SAP, allow for the input of "static" budget numbers for each General Ledger (G/L) account by period. These numbers must be developed outside of the program, usually by an accountant, and either manually input or imported using other software programs or custom designed applications. If these numbers are not maintained the business has a "static" budget and provides limited information for the business owner that becomes stagnant the moment it is produced! Q: Do I need to install a new accounting software program to take advantage of the benefits of Dynac ? A: ABSOLUTELY NOT! Dynac is specifically designed to work with any accounting software program - from Simply Accounting to SAP! All the user has to do to get started is to export an existing Chart of Accounts and historical monthly trial balances from your GL applications for importation into a Dynac database - it's just that simple! All accounting programs allow for this export feature, however, a support expert from Dynac will complete the set-up to fit your business and train you on how to get the maximum benefits from Dynac software. The best part - it's so easy to use that Dynac offers a 100% money-back guarantee if you are not completely satisfied. Q: Do I need special software or hardware to install and run Dynac Tools ? A: ABSOLUTELY NOT! DynacBudget installs and runs on an Excel platform, which is readily available on most business systems. If you have Excel you can install DynacBudget without any special hardware needs. DynacForecast and DynacViews runs on any Windows® platform. The best part is that Dynac will look after the complete install, customization to your business Chart of Accounts and train you how to get the maximum benefit. Q: Dynac sounds like it is specific for a manufacturing business, I am in the service industry, and can I use Dynac ? A: ABSOLUTELY! Dynac is not industry specific. Any organization with an accounting system can enjoy the full benefits of Dynac - no matter the industry, and whether you are in the public, private or non-profit sector. Q: I need both a detailed budget for next year and a five-year financial business plan. Can Dynac meet my needs? A: Dynac will meet all your needs. DynacBudget captures any number of months of historical data and allows for rolling budget projections in monthly or yearly "buckets". "Buckets" is a term used to define the period in a give model. Q: What types of budgets can I complete using Dynac ? A: Any type of budgeting process can be accommodated within Dynac. The most common process is some variation of a "revenue based" budget where the budgeting champion builds a top-down budget providing the necessary authorized funds to fulfill the demand. Q: I use a "zero based" budgeting process starting with sales projections at the SKU level by customer, how can Dynac help me? A: Dynac has everything you need to complete a "zero based" budget. DynacForecast allows a complete forecast by SKU at the customer level and fully integrates with DynacBudget. Plus, DynacBudget allows for an extended Chart of Accounts capability to budget for labour, material, capital expenditures and anything else in your Chart of Accounts. "Zero based budgeting" is the process of preparing an operating plan or budget that starts with no authorized funds. In a "zero based" budget, each activity to be funded must be justified every time a new budget is prepared. Q: What does DynamicSimplicity™ mean? A: Traditionally, small to medium business owners depend on intuition to manage the financial and budgeting aspects of their company, develop home grown spreadsheet type analysis or rely on their outside accountants. This approach to business planning tends to be static and complex in nature. With a stagnant budget to work with, completing "what-if" analysis becomes tremendously complex and as such the business owner tends not to take ownership of the budgeting process. Dynac calls this state of business planning " static complexity ". DynamicSimplicity could be considered an oxymoron (When was the last time you discovered something that was both simple and dynamic ?) but what it really is, is a new paradigm in budgeting made possible by the Dynac suite of budgeting software. A: DynacBudget is a powerful software application for businesses that goes way beyond spreadsheet planning. DynacBudget™ is designed with the non-accountant in mind and recommended by accountants and financial institutes. DynacBudget captures any number of months of historical data and allows for rolling budget projections in monthly or yearly "buckets". We call it our "micro" budgeting tool as it focuses at the detail level of your company's accounting software's Chart of Accounts. DynacBudget integrates with your existing accounting system for audit trace and variance reporting and analysis. DynacBudget also provides for an "extended chart of accounts" ability that allows the user to budget in detail labour, materials, revenue and capital expenditures - just to name a few possibilities. The budgeting possibilities are only limited by your intuition and imagination! Q: Can DynacBudget handle the budget requirements of medium or large businesses ? A: DynacBudget is fully scalable to suit the requirements of any size business. A specialized version of the software called DynacBudget-Enterprise delivers all the benefits of DynacBudget for medium-to-large companies. DynacBudget-Enterprise allows for cross-functional budgeting, forecasting, reporting and consolidation - ideal for businesses with dispersed subsidiaries and autonomous budgets across multiple database entities, calendars and currencies. DynacBudget-Enterprise allows for fully audit traceable "elimination and allocation journal" entries not only for Actual but for Budgets including Currency Transaction Adjustments - your Auditors will thank you! Q: What is a "rolling budget"? A: A "rolling budget" is a combination of actual (historical) and budget (future) for a given time period - say 12 months in a particular year or 24 months over a two-year period. As the user enters current months actual data the budget rolls forward for the balance of the time period based on the latest current data. The budget is dynamic based on current actual data. Q: Can I create and store multiple budget scenarios using DynacBudget ? A: ABSOLUTELY! Once your original budget is created and stored, it cannot be altered and the user should be held accountable through variance analysis reviews. However, as things change during the budget year, the user should create and store updated budget scenarios for more accurate planning. DynacBudget allows for multiple budget scenarios any of which may be retrieved on demand and incorporated into the active "rolling budget". You can develop a "worst case" budget for the bank", a "best case" budget to determine maximum capital expenditures required or develop a half-year revised budget to reflect major unforeseen changes. Q: How do I complete and analyze "what-ifs"? A: By using DynacBudget "goal seeking" and "delta analysis", you are truly in the driver's seat. "Goal seeking" allows the user to set a particular goal and define the variable that is to be changed to affect this goal. And "delta analysis" allows the user to analyze the detailed effect of any change(s) on the overall budget. For example, one might wish to set a goal of increasing the current ratio from 1.1 to 1.2 over the next 12 months by increasing total sales and seeing the effect on cost of goods sold. Alternately, the user may create as many "what-if" scenarios as he or she likes, and can review the "delta analysis" before adopting the budget.
Q: Which DynacForecast module is right for my company ? A: DynacForecast is a powerful forecasting resource for manufacturing, distribution and service businesses. All DynacForecast modules are fully integrated with DynacBudget and in some instances can be set to drive a Master Planning Schedule in an ERP application. DynacForecast Account Module can be used by any business, and it allows multiple users to interact with the budgeting process in a secured environment at the GL Account or DynacChild Account level. Full audit traceability and annotation is available to meet the requirements of SOX and Bill 198 DynacForecast SKU Module is designed specifically for manufacturing companies. Both normal and promotional sales may be forecast by SKU, SKU by distribution code, product category, dollar or unit, or GL Account. DynacForecast Enterprise Module is a highly specialized module designed for platform forecasting, in automotive companies, for example. Contact Us for more information on DynacForecast Enterprise Module at your operation. How do I install DynacForecast ? DynacForecast is a custom install, designed to meet your particular needs. Please Contact Us for more information.
A: DynacViews lets you harness the power of DynacBudget to create professional reports for a variety of critical business needs. For example, the dialogue with your lending institution often involves detailed discussions between the lender and your accountant. DynacViews allows business owners to become more actively involved with the discussion, armed with a full range of financial statements and "what if" analyses that are easily produced using DynacViews. DynacViews outperforms all GL application report writers and eliminates the need for Crystal Reports for financial reporting of not only Actual but any Budget or Forecast at the entity or consolidated level. Q: What kind of real value can I expect from DynacViews ? A: In a real-world example: Before becoming a Dynac customer, the CFO for a medium-sized company used to take up to 20 hours preparing the monthly management report package - which consisted exporting from popular accounting package, and publishing everything into a management report package. DynacBudget and DynacViews have reduced this monthly cycle to 20 minutes. Contact Us for more real-world examples about the value of DynacViews. |
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The Dynac suite of software includes: Click on a link above to access that section of the FAQ. |
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