Opportunity Management

When we say Opportunity Management in Dynamics NAV, we mean sales opportunities.

Opportunity Management Setup

Sales Cycle

A sales cycle is:

  • The course of time between the initial contact being made with a customer the transaction that completes the sale.
  • A measure of the efficiency of a sales department.
  • A breakdown of what happens in our sales processes in our sales cycle.

We can track the lifecycle of our opportunities in Dynamics NAV by using the sales cycle functionality.

You can create as many sales cycles as you want. You should leverage it with what you really do in your sales process.

To create a new sales cycle or to view an existing one, click Departments/Sales & Marketing/Sales/Setup/Opportunity/Sales Cycles.

A sales cycle exists out of different steps, and we call them Stages. To create stages for a sales cycle or to view stages of an existing sales cycle, selected the sales cycle and click on the Stages under Navigate tab.

Each of the stages represent percentage of completion of your sales cycle, specified in Completed % field. For instance, when we have initialized the sales process, we are 2% complete, when we understand the needs, it is 35% complete, and so on. These completed percentages can be later on used to calculate the value of your sales cycle.

You can also attach Activity Code for each step of the sales cycle, which represents a corresponding task. For example, set of to-do for specific representative. You can use the to-dos in combination with date formulas, so you can really plan when a to-do needs to be executed. These date formulas also serve a purpose for the Opportunity Details Report, where it displays planned activities on certain dates.

For some of the stages quotes are required. It means that in Dynamics NAV there is a sales quote for an opportunity available. If the Quote Required field is selected for a particular stage, you will not be able to proceed to the next stage, without first making a quote and assigning it to the opportunity.

If the Allow Skip field is selected, you can immediately jump to the next stage.

We can plan these stages with Date Formula, however if we already have Date Formulas specified in activity codes, we would prefer that, else we can use it in the sales cycle stages.

NOTE: You can Block a sales cycle, which means that you will not be using it anymore.

Closed Opportunity Codes

We use closed opportunity codes when we are closing our sales cycle, and usually that happens because we have either won the deal or we have lost the deal.

Closed opportunity codes are used to identify why we are closing an opportunity. Is it because we have won or lost a deal?

These codes will help us later to track the success factors of opportunities and we can measure our sales success.

Click Departments/Sales & Marketing/Sales/Setup/Close Opportunity Codes.

You will see a list of potential codes that we can use to close our opportunities and you can make as many as you want.

You have to divide them in either a Lost or a Won type and then you can give reasons, why we have lost or why we have won, for example, won because of a strong presales work, best price, best product, or lost because ineffective presale work or poor customer relations, and so on.
So these codes later on will give you an idea why we have won or lost specific deals.

You can also find here a calculated field with a number of opportunities that we closed because this or another reason.

Create New Opportunity

Open the contact card and click Opportunities on the Navigate tab.

Click Create Opportunity, to open a wizard.

Example: Create a New Opportunity

Use the wizard to create opportunity:

  • We have an opportunity not only to sell Tables but also to sell Chairs to the contact A. Gibson’s Law Firm.
  • Let’s say that the current data (work date) is the date for the opportunity.
  • The priority is normal.

  • Click Next.
  • The contact involved for this opportunity is specified.
  • We can link the salesperson involved with this opportunity, say Annette Hill.
  • Let’s say that this is an existing customer, a small one, so we apply the relevant sales cycle code.

  • Click Next.
  • You could also say that this is linked to a campaign, but in this case, we say it is not.

  • Click Next.
  • We can immediately activate the first stage or we can do it later on. Let’s say we activate it.
  • We need to give it a certain value, say 1000.
  • Specify the percentage of success, say 50%.
  • Specify an estimate closing date, say we need to close this by end of the month.

  • Click Finish.
  • You will notice that we have two opportunities, out of which the new one is about the chairs, that we just created.

Example: Update an Opportunity

  • Now, let us assume that a couple of weeks later, we want to update the opportunity because we have executed new steps in the process.
  • So select the opportunity, and under Actions tab click Update, which will open the Update Opportunity wizard.
  • Click Next.

  • Here we see that we are bringing this opportunity now to the second stage. Depending whether or not you are allowed to skip, you can select other stages if applicable.
  • The date of this change is today for example.

  • Click Next.
  • We might have new information that the value of this opportunity is higher (1,250) and probably our chances of success have increases as well (65%).
  • The estimated closing date can be a little bit later, may be couple of weeks.

  • Click Finish.
  • You will now notice that the opportunity is in the second stage of the sales cycle.

Linking Sales Quotes to Opportunities

In Dynamics NAV, a sales quote can be created completely driven from opportunity itself. So the link between the sales documents and the opportunity is established and guaranteed.

This means that sales quotes for opportunities can directly be created from the opportunity itself. So we can have a sales quote created in the process of updating the opportunity, and that means that we also have at the same time established a link between both.

To be able to create a sales quote for an opportunity:

  • This opportunity must have the in-Progress status and no other sales quote is assigned to it already.
  • In case that you are using contacts that are not synchronized with customers, you also need to have customer template set up.

Example: Update Sales Quote for an Opportunity

Let us check the A. Gibson”s Law Firm contact.

Navigate to the Opportunities.

In this example, we have two opportunities (from previous steps), and Chairs is the most recent one. Let’s say that we want to update this opportunity and bring it to the next stage.

  • Click Update on the Actions tab.

  • Click Next.

  • Now, in this example if we wanted to bring it to a new stage, it will be the third stage, which is dedicated to a proposal.
  • Click Next.

In this case, Dynamics NAV will warn us, saying that we need to assign a sales quote. This is because of the configuration that we have done on the sales cycle level, here we have made a quote necessary for this stage.

So what can we do? well, from the opportunity window itself, we can assign a sales quote, by clicking Assign Sales Quote action.

  • You will see that we get a sales quote with a certain number for this contact, A. Gibson’s Law Firm.
  • You also see that in this sales quote, you have a field which is called opportunity, which is automatically filled up with the opportunity number because we started this process from the opportunity window.

So now if we close the sales quote, we will be able to update a bring our opportunity to the next stage.

  • Let’s say our chances of success are a little better (75%)
  • Maybe the amount has also changed after making the sale quote (1,750.00/-)
  • Click Finish.

Now you see that the update to the third stage was successful.

At any time, we can always ask and check the quote which is in the system and is related to this opportunity, by clicking on Show Sales Quote action.

Note: You can assign opportunity to sales quote manually, by going to the sales quote, however, you need to make sure that the opportunity is not already assigned to any other sales quote.

Opportunities Overview

Click Departments/Sales & Marketing/Marketing/Opportunities.

Here you can have an overview of all the opportunities in the system, instead of accessing opportunities from individual contacts.

You can select one of the opportunities and then start working with the same views & actions that you have available as if you would start from an individual opportunity.

Close Opportunities

When the negotiations are over, opportunities can be closed. While closing an opportunity, you need to specify the reason for closing it and to be able to specify this reason, you must first of course set up the closed opportunity codes.

You can also delete closed opportunities, for example, after you have concluded a deal or when the opportunity list window is overloaded with closed opportunities.

So, basically, we have two actions:

  • Action: Close Opportunity
  • Batch Job: Delete Closed Opportunities

Example: Close Opportunity

Open the contact A. Gibson”s Law Firm and Navigate to the Opportunities.

On the Opportunity List, select the opportunity (Chairs in this case), and click Close under Actions tab.

This will open a wizard, where you can specify why you want to close the opportunity? Let’s say we Lost.

Click Next.

Now specify the reason for closing the opportunity. Let’s say we have done ineffective presales (Choose PRES_L code from the list).

You have the option to cancel any of the existing open to-dos that might still exist.

Click Finish.

Note that the opportunity is now closed and the status is Lost.

If you now go to the overview of all opportunities, you will see the closed opportunity here as well. You can sort and filter on this.

Also, when you open the opportunity card, you can see all the details, such as:

  • The last action that was carried out.
  • The opportunity is closed.
  • The opportunity is Lost.
  • Percentage complete is now 100%.
  • Calculated Current Value has become Zero.
  • etc.

Delete Opportunities

In your organization, opportunities will be closed all the time, which means that at a certain point in time you will have a lot of closed opportunities in your overview, and it is possible to think that you want to get rid of these closed opportunities.

So you need to do some data deletion or data clean-up. In Dynamics NAV you have a Delete Closed Opportunities batch job for this purpose.

Click Departments/Administration/IT Administration/Data Deletion/Marketing Activities/Delete Closed Opportunities (or search for Delete Closed Opportunities and select the relevant link).

You can bring in a number of filtering, for example you might not want to close all opportunities, but maybe opportunities from a certain date range, etc.

When you click Ok, the opportunity will be deleted.

Opportunity Statistics

You can view opportunity statistics from various places in Dynamics NAV:

Contact Statistics

On the Contacts list, select the contact and click Statistics.

Salesperson Statistics

On the Salespeople/Purchasers list, select the Salesperson and click Statistics.

Campaign Statistics

On the Campaigns list, select the campaign and click Statistics.

Sales Cycle Statistics

On the Sales Cycles list, select the sales cycle and click Statistics to view opportunity related statistics.

Sales Cycle Stage Statistics

On the Sales Cycle Stages, select a stage and click Statistics to view opportunity related statistics.

Creating Super User Using SQL Query

Creating Super User in NAV 2016 using SQL Query

Get the SID of the current user login

Open the command prompt.

Type the following command and click enter to get the SID of current user login:

whoami /user

Get SID of all users in the domain

Type the following command and click enter to get the SID of all the domain users:

wmic useraccount get name,sid

Run the query in SQL

Open Microsoft SQL Server Management Studio.

Right-click on the database in which you would like to create the user and select New Query.

Copy the following query and paste it in the New Query window:

NOTE: Make sure to replace <Domain Name>, <User Name> and <SID> with correct information.

DECLARE @USERSID uniqueidentifier, @WINDOWSSID nvarchar(119), @USERNAME nvarchar(50)

SET @USERNAME =
‘<Domain Name>\<User Name>’
/* Domain Name\User Name */

SET @USERSID =
NEWID();

SET @WINDOWSSID =
‘<SID>’
/* USER SID*/

INSERT
INTO [dbo].[User]


([User Security ID],[User Name],[Full Name],[State],[Expiry Date],

[Windows Security ID],[Change Password],[License Type],[Authentication Email],[Contact Email])


VALUES


(@USERSID,@USERNAME,,0,‘1753-01-01 00:00:00.000’,@WINDOWSSID,0,0,,)

INSERT
INTO [dbo].[User Property]


([User Security ID],[Password],[Name Identifier],[Authentication Key],[WebServices Key],[WebServices Key Expiry Date],[Authentication Object ID])


VALUES


(@USERSID,,,,,‘1753-01-01 00:00:00.000’,)

INSERT
INTO [dbo].[Access Control]


([User Security ID],[Role ID],[Company Name],[Scope],[App ID])


VALUES


(@USERSID,‘SUPER’,,0,‘00000000-0000-0000-0000-000000000000’)

GO

Click Execute, to run the query.

After successful execution, the specified user is created in the database. Please check Users page in NAV.

Working with Accounting Period

It is good to change your profile to Accounting Manager to work with Account Periods.

How do I create a new financial year?

You can create a financial with these simple steps:

  • Click Departments/Administration/Application Setup/Financial Management/Finance/Accounting Periods or just search for Accounting Periods and choose the related link.
  • On the Accounting Periods window, click Create Year.
  • Specify the fields and click OK.

This will set up a new fiscal year automatically so that you can enter transactions for the new year.


How do I close a financial year?

The following steps are involved in closing a financial year:


Close Financial Year

In the Accounting Periods window, you can see the years that have been setup in NAV already. You need to remember that if you want to close this year and you do not have another accounting period for the next financial year, then you have to create that first, before you can close this year.

To close the financial year:

  • First you need to ensure that you have selected the year that you want to close. Remember that all the previous year are closed, before you can close this year.
  • Select the line you want to close (beginning of the financial year 2017 in this example) and click Close Year.

Please note once you close the year, you will not be able to reopen it. NAV also shows a warning message for the same. Be careful, do not click Yes unless you are certain.

Close Income Statement

Once we have closed the year, we need to run the Close Income Statement batch in NAV.

  • Click Departments/Financial Management/Periodic Activities/Fiscal Year/ Close Income Statement or search for Close Income Statement and select the related link.
  • On the Close Income Statement window:
    • Fiscal Year Ending Date will automatically be filled
    • We now have to specify the Gen. Journal Template and Gen. Journal Batch. We have created the following batch in this example:

  • Fill in the Document No.
  • Specify a G/L account in the Retained Earning Acc.
  • You can also change the Posting Description
  • You can also close your income statement by dimension.
  • You can schedule the batch or run this manually by clicking on Ok.
  • After you run the batch, you will see that the journal lines have been created successfully.

Remember, you still need to post your journal.

Post year End Closing Entry

Let us navigate to our journal and check that we are happy with it.

  • Search for General Journal and select the related link
  • Select the correct option (FYE in this example) and open the general journal.
  • Review the results of your financial year end journal and once you are happy, you can Post your journal.

  • You will receive a message that your journal is successfully posted.

Well done, you have successfully closed your financial year J
J.