As is found in the latest licensing guide, there are a couple of flavors of Business Central (3 actually if you consider ‘Team’ licenses).

https://mbs.microsoft.com/Files/public/365/Dynamics365BusinessCentralLicensingGuide.pdf

As the licensing guide says:

 

Microsoft Dynamics 365 simplifies licensing of business applications. The primary licensing is by named user subscription. The Microsoft Dynamics 365 user subscriptions classify users into two types, “full users” and “additional users”.

 

Full users are the users whose work requires use of the feature rich business applications functionality. Examples of full users are sales people, customer service representatives, finance employees, controllers and supply chain managers. These users have also been referred to in the past as Pro users or Power Users. These full users are licensed with a Dynamics 365 Business Central subscription.

 

Additional users often represent a significant percentage of users in an organization and may consume data or reports from line of business systems, complete light tasks like time or expense entry and HR record updates or be heavier users of the system, but not require full user capabilities. These additional users are licensed with Dynamics 365 Business Central Team Members.

 

 

Dynamics 365 Business Central Team Members

 

 

The Dynamics 365 Business Central Team Members subscription is a named user subscription designed for users who are not tied to a particular function, but who require basic Dynamics 365 Business Central functionality. This license includes read access as well as some write access for select light tasks across Dynamics 365 Business Central functionality for a given tenant. The Dynamics 365 Business Central Team Members SL grants a user full read access to Dynamics 365 Business Central Essentials and Dynamics 365 Business Central Premium for a given tenant. In addition, the Dynamics 365 Business Central Team Members SL includes some limited use write access to Dynamics 365 Business Central Essentials and Premium.

The last two pages include an appendix that break out the specific discreet functionality covered by either Premium or Essentials, but here it is in a nutshell:

Dynamics 365 Business Central is a comprehensive business management solution for SMBs.

The Dynamics 365 Business Central application can be licensed two ways:

Dynamics 365 Business Central Essentials:

(i) Financial Management
(ii) Customer Relationship Management
(iii) Project Management
(iv) Supply Chain Management
(v) Human Resources Management
(vi) Warehouse Management

Dynamics 365 Business Central Premium:

(i) Everything in Essentials
(ii) Service Management
(iii) Manufacturing

Note, customers may not mix and match Essentials and Premium users. Customers must license Essentials or Premium users but not both.