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D365 Chart of Accounts Strategy for Perfectly Balanced Intercompany Transactions

#D365 #Microsoft #ChartofAccounts #Intercompany #Setup #Strategy Are you dreading the financial month end process of reconciling the intercompany accounts? No problem for D365. Here is a strategy for creating Main Accounts in a D365 Chart of Accounts the simplifies the reconciliation process. The numbering convention results in a visually easy to reconcile trial balance in your consolidation Legal Entity. The strategy for an numbering convention in your chart of accounts al

Come see me at the Microsoft Community Summit NA 2022

#Microsoft #Summit #SummitNA2022 #Speaker #D365 #Consolidations #MultipleChartofAccounts #Elimination #CurrencyTranslationAjdustment #CTA #PecentageOwnership I will be a speaker at Community Summit North America 2022, presenting a comprehensive session on D365 Consolidations. COMMUNITY SUMMITNORTH AMERICA The largest independent gathering of the Microsoft Business Applications user ecosystem. This year the Summit is October 10-13 and is held at Gaylord Palms, Orlando, Florida

Updated Microsoft Go-live Readiness Review Process

#Microsoft #D365 #GoLive #FastTrack Microsoft has updated their FastTrack Go-live Readiness review process. They are moving away from the Word version Go-live readiness check-list to a portal to capture this information, Updated Microsoft Go-live Readiness Review Process FastTrack Go-live Readiness review is a big milestone for D365F&SCM implementation projects. This Microsoft quality gate is there to ensure that the project is in good shape before provisioning PROD for going

Isolate Credit Notes on Trial Balance

#Microsoft #D365 #D365FSC #ContraRevenue #CreditNotes #PostingProfile #Italy Have you wanted to distinguish Sales Order Returns [Contra Revenue] on the Trial Balance, but only see a Posting Profile for "Revenue"? The setup in Dynamics 365 has a feature to add a new posting type for Credit Notes. (This feature is limited to Italy legal entities, contact you technical team if you need the feature enabled for non-Italy legal entities). 1. Enable on the feature Workspaces > Featu

Reflexive Financial Dimensions

#D365 #D365FSC #Setup #FinancialDimensions Have you ever wanted to run a trial balance by Customer, Item, Vendor, Projects, etc. ? There are a lot of benefits to doing this, but the challenge is automating the process. D365 can do this, and the setup is easy. Today, we will use "Projects" as an example. 1. Create a entity backed Financial Dimension General ledger > Chart of Accounts > Dimensions > Financial dimensions Select "New" and choose the desired table. Note: Do not ch

Activate New Financial Dimensions

#D365 #D365FSC #FinancialDimensions #Setup #Activate #MaintenanceMode You have created new Financial Dimensions, want to activate them, and system says you must be in maintenance mode. To perform the following steps, you must have access to Life Cycle Services for your environment. 1. Enabling Maintenance Mode Login to Life Cycle Services Choose your project on the front page On the right side click “Full details” for your environment Note: It may take a minute or so for the

Consolidate, Online Strategy [TAX]

#Microsoft #D365 #D365F #D365FSC #Consolidaions #ConsolidateOnline #Tax #Process #BusinessProcess #Strategy #Simplification Do you want to prepare Financial Statements including GAAP Adjustments or TAX Adjustments? This can easily be accomplished with out of the box features. Assumptions: You are using D365 Financial Reporter. You do not want to use posting layer Question: How can I do this if a Legal Entity [LE], (setup = Use for Consolidations) does not allow manual journal

Consolidate, Online Strategy [Steps 0-4]

#Miscrosoft #D365 #D365F #D365FSC #Consolidaions #ConsolidateOnline #Process #BusinessProcess #Strategy #Simplification We discussed Consolidations in earlier blogs. Today I want to talk about strategy for processing consolidations. Assumption: You have read the earlier blogs. Assumption: You have foreign currency transactions in you child companies. (if not, you can skip step 0 and skip step 4; just use steps 1,2,&3) Links to earlier blogs Automated Accounting, D365 Onlin

Schedule D365 Financial Statements

#D365 #D365FO #D365FSC #FinancialReporter #FinancialStatements #Schedule #Automate Running your monthly financial package on a recurring schedule? D365 can easily do that for you via Financial Reporter. 1. Access Financial Reporter designer mode Open Financial Reporter General ledger > Inquiries and reports > Financial reports Choose a report, then click edit Choose "Open" to install ReportDesigner. Choose your account and password. You will see the report designer icon on yo

Automatic Intelligent Vendor Numbers in D365

#D365 #D365FO #Setup #Configuration #Automation #AccountsPayableParameters #NumberSequences #VendorGroups Have you ever wanted to have some intelligence for your vendor numbers? In D365 you can automate that ! I usually number my Vendors as V######, as opposed to C###### for Customers. Occasionally I like a little more information in my Vendor number, and I can get that automatically by leveraging the Vendor Group setup. I have the following Vendor Groups created that I want

WANTED: Better Descriptions for Journals

#Microsoft #D365 #D365FO #DefaultDescriptions #JournalDescriptions #Setup #Configuration #Automation Do you ever wish the out of the box journal entries had more information? Well... D365 Finance and Operations can do just that. The features we are going to explore today are customizable in the Journal Setup section of the General Ledger module. General ledger > Journal setup > Journal descriptions General ledger > Journal setup > Default descriptions General ledger > Journal

Perfectly Balanced D365 Accounts Receivable Migration

#D365 #D365FO #DataMigration #AccountsReceivable #OpenAR #Reconciliation #Strategy Out of Balance Legacy Sub Ledger? No problem. Today we will cover strategy to migrate Accounts Receivable sub ledger to your new D365 ERP system. We will assume that the legacy system was out of balance $1,000.00, yet we will achieve a balanced General Ledger to Sub Ledger in D365 based on the Open AR details that we are provided [ $50,000,000.00 ]. In a prior blog, we covered migration of th

Chart of Accounts Redesign Strategies

#D365 #D365FSC #D365FO #Microsoft #ChartofAccounts #Setup #Design #Architecture Overview A Chart of Accounts is the backbone of a financial system. It is a core setup in D365 Finance ERP system. A best of breed, thoughtful, Chart of Accounts will benefit financial reporting, facilitate validations, and streamline accounting and review. Optimizing your new Chart of Accounts will use a combination of some, or all of the following strategies. These strategies are best practic

D365 Asset Leasing (IFRS16), Bug Resolved

#Microsoft #D365 #D365FO #D365FSC #AssetLeasing #Bug #Resolution #issue600336 #KB4634318 In my earlier blogs, I mentioned that the reclassification of liability from long to short term had a bug, subsequent reversal was backwards. D365 Asset Leasing (IFRS16) (365financearchitect.com) D365 Asset Leasing (IFRS16), Deeper Dive (365financearchitect.com) Bug resolution Now resolved, fix will appear in Quality Update 10.0.20 Description of Change "During the short term reclassifica

Migration is not just for birds. Trial Balance Migration Strategy.

#Microsoft #D365 #D365FO #D365FSC #Implementation #DataMigration #TrialBalance So you have a new implementation of Microsoft Dynamics 365, or you have a new Legal Entity than you want to create in your existing D365 environment. "What strategy should I take for my Trial Balance data migrations" ? Today we will offer a tried and true method. You have already designed and setup your new Chart of Accounts and Financial Dimensions. You think you have properly mapped all the Legac

D365 Table Browsing simplified

#D365 #D365FO #Microsoft #TableBrowser #HowTo In earlier versions of Dynamics did you quickly Browse Tables via the AOT and that option is no longer available. No problem, today we will show two ways of browsing your D365 tables. Edit the URL Chrome Extension 1.0 Method 1 Edit the URL 1.1 How to Edit the URL Editing the URL is easy, you just to know the proper syntax to put in the address bar of your internet browser. We will review the advantages of the alternative method i

Microsoft Certification Week for Partners 8/23-8/27

#Microsoft #D365 #Azure #BusinessCentral #ERP #PowerPlatform #Security #Partners #Certification Microsoft is holding a Partner certification week starting August 23rd. This is a can’t-miss opportunity for you to go the last mile toward validating your technical expertise, showcasing mastery of a Microsoft solution area, and acquiring a Microsoft technical certificate as you apply for Microsoft advanced specializations. As a Microsoft partner, all you have to do is register. C

Inventory Close and Recalculation are Your Friends

#D365 #D365FO #D365FSC #Setup #InventoryClose #InventoryRecalc #InventoryRecalculation #FIFO Why should I? It is too much work. I am afraid of it. I don't know what it does. For this blog, I will focus on Inventory Recalculation and Inventory Closing. I will use FIFO costing as an example for Recalculation. 1. Definitions Inventory Recalculation: Changes Dynamics native costing 'average' to your chosen method (i.e. FIFO). Is a prerequisite to Inventory Close Is not require

Add AutoPost to your approved WorkFlow Journals

#D365 #D365FO #D365FSC #Setup #Workflow #Journals #Posting #Automate You have already created your General Journal and submitted to to applicable Work Flow for Approval. Now you patiently, or not, wait for approval so you can post your journal. Wait no more ! Just schedule your approved workflow journals to autopost. The following defines the process to automate the posting of the approved General Journal. Post Journals Define the parameters that you are going to use. All of

Hot Off the Press, Microsoft D365 2021 Release Wave 2 Plan

#D365 #D365FO #D365FSC #ERP #Accounting #Setup #WhatsNew #2021Wave2 Microsoft periodically delivers automatic Dynamics 365 Updates. This keeps your ERP system up to date with the latest and greatest software. There are several new features, particularly the Finance features, that I find interesting with Dynamics 365 Finance 2021 Release Wave2. My new feature highlights: General Ledger Year End Enhancements This feature comprises a number of enhancements that give you more c