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Microsoft Dynamics 365 Finance

Dynamics 365 Finance is an enterprise system for Nigerian groups — banks’ non-bank subsidiaries, telcos, oil-and-gas services, conglomerates — that run many legal entities, intercompany flows and consolidations. At roughly ₦288,000 per full user per month at list, plus a multi-month implementation, it is wrong for any company that one accountant can close.

Last verified 28 Oct 2026 · Reviewed by Accounting Software Africa editorial, Publisher editorial desk. Tax figures are cited to the Nigeria Tax Act 2025. Assign a named ICAN reviewer in this field before treating a page as a signed professional opinion.

Product kind
General ledger
Made in
Flag of United StatesUnited States
Headquarters
United States
Founded
2016

Strengths

  • Not African-made
  • Multi-entity consolidation
  • Global tax and localisation framework
  • Power BI and Azure stack

What it actually is

Dynamics 365 Finance is Microsoft’s enterprise ERP ledger — the descendant of Dynamics AX — built for groups that run several legal entities, currencies and intercompany flows. It is not a small-business app: buyers are banks’ subsidiaries, telcos, manufacturers and pan-African groups with an IT function and an implementation partner.

Features

FeatureCoverageNote
Double-entry ledgerCore strengthFinancial dimensions, multiple legal entities, intercompany and consolidation out of the box.
Multi-currencyCore strengthRevaluation, triangulation and reporting currencies per entity.
Financial reportsCore strengthFinancial reporting plus Power BI; group consolidations without spreadsheets.
ApprovalsStrongConfigurable workflow on journals, vendor invoices and purchase requisitions.
Fixed assetsStrongAsset books, depreciation profiles and disposals per entity.
InventoryStrongVia Supply Chain Management, licensed separately or as an attach licence.
E-invoicingPresentMicrosoft’s Electronic invoicing service and partner add-ons; African country formats are mostly partner-built.
VATPresentTax engine is configurable; local return layouts come from partners.
Payroll / PAYENot offeredNo African payroll. Integrate a local payroll product and post journals.
Bank feedsLimitedBank statement import formats; host-to-host links with African banks are partner projects.

Africa reach

CountriesPresence
Flag of NigeriaNigeriaPartner-led
Flag of GhanaGhanaPartner-led
Flag of KenyaKenyaPartner-led
Flag of South AfricaSouth AfricaPartner-led

Pricing

PlanAmountBillingIncludesAs of
Finance (per full user)₦287,834MonthlyAbout $210/user/month list (third-party trackers citing Microsoft list). Minimum seat counts apply on first purchase.28 Oct 2026
Finance Premium (per full user)₦411,192MonthlyAbout $300/user/month list; adds advanced capabilities such as planning features.28 Oct 2026
Attach licence (second app)₦41,119MonthlyAbout $30/user/month when a user already holds a qualifying base app.28 Oct 2026

Compliance

RequirementStatusNoteVerified on
E-invoicingVia third partyMicrosoft’s Electronic invoicing service is extensible; NRS formats come from partners or ISVs.28 Oct 2026
VAT filingPartialTax engine is configurable; Nigerian return layout is a partner deliverable.28 Oct 2026
WHTSupportedWithholding tax groups and certificates are standard functionality.28 Oct 2026
PAYEVia third partyPayroll is outside the product.28 Oct 2026
Local COASupportedShared chart with financial dimensions across entities.28 Oct 2026
Multi-currencySupportedAccounting and reporting currencies per entity, revaluation, triangulation.28 Oct 2026
Bank feedsPartialBank statement formats via partner; host-to-host integrations are projects.28 Oct 2026

Best for

  • Groups with five or more legal entities
  • Companies reporting to a foreign parent on IFRS and in USD
  • Organisations already standardised on Microsoft Azure and Power BI

Not suitable for

  • SMEs and single-entity mid-market firms
  • Teams without an internal ERP owner
  • Anyone expecting go-live in weeks

Local support

Microsoft has a Lagos presence and several Nigerian and pan-African partners deliver Finance projects; offshore partners often lead the build with local functional consultants. Insist on a named Nigerian tax/localisation lead.

Migration notes

Expect a 6–12 month programme for a group: global chart and dimension design, entity-by-entity rollout, data migration of open items and fixed assets, and an integration layer for banks, payroll and e-invoicing.

Microsoft Dynamics 365 Finance logo
Dynamics 365 Finance is the descendant of Dynamics AX.
Partner walkthrough of the Finance app. Video: Western Computer (Microsoft partner), on YouTube.

What does Dynamics 365 Finance cost in Nigeria?
At ₦1,370.64 per dollar, the roughly $210 list is about ₦287,834 per full user per month; 25 users is about ₦86m a year in licences. Implementation for a Nigerian group commonly runs higher than the first year of licences, and annual partner support is extra.

What does it do that Business Central does not?
Group-scale finance: shared charts across many entities, intercompany automation, consolidation and eliminations, advanced cost accounting, budgeting and a more configurable global tax engine. It also scales to thousands of users and integrates with Supply Chain Management for complex manufacturing and logistics.

Is it overkill for a Nigerian company?
Usually, yes, below about 100 finance-system users or five entities. The common failure mode is buying Finance for prestige, then running a simplified process that Business Central would have handled at a fraction of the cost.

How does it handle Nigerian WHT and VAT?
Withholding tax groups and certificates are standard. VAT at 7.5% is configured in the tax engine. The NRS e-invoicing connection and the statutory return layouts are partner deliverables — get them written into the statement of work.

Sources

  1. Microsoft — Dynamics 365 Finance 28 Oct 2026
  2. A Guide to Cloud — Dynamics 365 Finance licensing 28 Oct 2026
  3. CBN official rate (Monierate) 28 Oct 2026

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