#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

#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

#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

#MySummitNA #dynamics365 #d365fo #microsoft #Consolidations #Eliminations #CurrencyTranslation Come see me present on Wednesday October 13, in Houston D365FO Multi Company Consolidations Demystified Room GRBC 3rd Floor 370C (1:40-2:20 CDT) Learn how to setup and process consolidated trial balances in D365FO. Understand the complex issues and eliminations and Currency translation adjustments. Consolidate, Online Consolidate different Chart of Accounts (Rest of World & France)

#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

#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 #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

#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

#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

#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

#Dynamics365, #D365FSC, #D365FO, #AssetLeasing, #Setup, #Accounting, #IFRS16, #ASC842, #Configuration, #PostingProfiles, #Vouchers, #Bug, #KnownError In the previous blog we discussed Microsoft D365 Asset Leasing vouchers. D365 Asset Leasing (IFRS16) (365financearchitect.com) Today we will review the related setups and posting process for Asset Leasing. 1. Asset Leasing Parameters (Leases, Accounts, and Number sequences) Create and assign the exhibited Journal Names. Asset le

#Dynamics365, #D365FSC, #D365FO, #AssetLeasing, #Setup, #Accounting, #IFRS16, #ASC842, #Configuration, #PostingProfiles, #Vouchers Dynamics 365 Finance and Supply Chain automates Lease Accounting. D365 will process transactions for both ASC 842 and IFRS 16 Today we will cover the process related to IFRS 16. 1. Chart of Accounts Create the exhibited Main Accounts. General ledger > Chart of accounts > Accounts > Main accounts 2. Posting Profiles Assign Main Accounts per the tab

#D365 #D365FO #D365FSC #PPV #PurchasePriceVariance #Setup #Reporting #VarianceAnalysisStatement #ItemModelGroup #PostingProfiles Purchase Price Variance (PPV) is the difference between the Standard Cost of a product vs. the Purchase Order pricing. D365 will automatically record the PPV when posting a Purchase Order Receipt and also when posting the Purchase Order Invoice. In today's scenario we will demonstrate the following: Item # #1 Standard Cost $1,000.00 ea Purchase O

#D365 #D365FO #Accounting #Setup #Consolidations #Eliminations #Net Processing Eliminations for Consolidated Trial Balance in D365 is rather straight forward. The concept is that if you have transactions with the various companies that you own, those transactions need to be eliminated so that their balance is zero. Today we will demonstrate an example where we have moved $1,000,000 USD of Prepaid Insurance from Contoso company USSI to USMF. We will have consolidated in GLMF

#D365 #D365FO #Accounting #Consolidation #FinancialDimensions #LegalEntity #Setup When you setup your Consolidation, Online in Dynamics 365 FO, there is an easy trick to identify what Legal Entity (LE) the Trial Balance values come from. 1. Financial Dimensions Create a Financial Dimension and point it to the Legal Entity table. I usually name the Financial Dimension "LE". General ledger > Chart of Accounts > Dimensions > Financial dimensions Note: You will probably need to p

#D365 #D365FO #Setup #Ledger #Accounting #SetupLedger #Ledger #GeneralLedger At high level a new D365 company needs to tie certain information together in for the company to process any information. Without this setup, you cannot process transactions in your new company. The General Ledger setup holds this base information. The setup takes various information and applies it to your Legal Entity Today we will explore the related settings. Will will use example screen shots

#D365 #D365F #D365FO #Accounting #ChartOfAccounts #Validation Microsoft Office Export to Excel usually only shows a few of the fields, but you want to validate all of your Main Account settings. This is a good idea, as the Main Accounts control several things, like Year End Close, Currency Exchange, Posting Profiles, and Financial Reporting. Using the D365 Data Management Workspace makes short work of getting all the information about Main Accounts at your finger tips. 1. Cre