Organizations use Dynamics 365 for Finance and Operations to elevate their financial performance by increasing profitability, optimizing workforce productivity, reducing operational expenses, adapting quickly to requirement changes, and streamlining asset management.
This course discusses how to configure and use essential components of financial management in Dynamics 365 for Finance and Operations.
A Dynamics 365 for Finance and Operations Functional Consultant is responsible for performing discovery, capturing requirements, engaging subject matter experts and stakeholders, translating requirements, and configuring the solution and applications. The Functional Consultant implements a solution using out of the box capabilities, codeless extensibility, application and service integrations.
Please note all Instructor Led courses will be in Australian EST time zone.
In this module you will learn some of benefits of financial management of Dynamics 365 for Finance and Operations.
Benefits of financial management
You became familiar with modules in Finance and Operations related to financial management and their
One of the first and most important steps of implementing financial management in Dynamics 365 for Finance and Operations is currency setup. Currency setup is a required step in the configuration of the system and is used to record financial transactions. This module explains currency management in Finance and Operations.
Setup legal entity currencies and conversions
Configure and import currency exchange rates
You have now learned about different types of currencies in Finance and Operations. You are also fam
Before posting transactions, a new fiscal year must be divided into periods. This is because transactions cannot post unless a period is created for the posting date and shared across multiple legal entities. A benefit of sharing fiscal calendars is that this supports multiple fiscal calendars for each legal entity.
The fiscal year in Finance and Operations can be set to any length and divided into any number of periods.
Create fiscal calendars, years and periods
Create date intervals
In this module, you learned how to: differentiate between ledger and fiscal calendars, configure and
A chart of accounts is a set of main accounts in Finance and Operations that captures financial information upon posting a journal. Each account is assigned an account number as a unique identifier.
Define and configure the chart of accounts
Define and configure the financial dimensions
Define and configure account structures and rules
Identify the required components for the chart of accounts.
Define and configure the chart of accounts.
Define and configure the financial dimensions and dimension sets.
Configure chart of accounts, main accounts, categories, templates, ledger account alias, and balance
Configure account structures and advanced rules.
A journal is a worksheet that you can use before you manually enter postings into the system. When you set them up correctly, journals allow you to quickly and efficiently manage posting. To use a journal, you must have a journal name, and should complete the configuration of the ledger, journal, and posting of the General ledger module.
By using the General ledger journal directly or via the General ledger processing workspace, you can perform daily activities as someone who is assigned proper security role to access the General ledger.
A journal name gives financial leaders the capability to control data entry validation and restrict posting of a journal name for users differently.
Journals and their setup
Configure ledger and journal setup
Understand different types of journals and their setup.
Know how to configure ledger and posting setup.
Know how to configure and use journals.
In Dynamics 365 for Finance and Operations, organizations use the Cash and bank management module to create and maintain bank accounts. The Bank account table contains a record for each bank account. Each record contains bank account information, such as the following:
Registration number and account number
Other contact information
Main account for posting
Finance and Operations uses this information to process all bank transactions, such as payments and deposits.
Bank transaction types and groups
Setup cash and bank management parameters
Configure banks and bank checks
Deposit and refund checks
Create and configure banks.
Create and configure bank layouts.
Configure cash and bank management parameters.
Set up vendor and customer banks.
Configure cash flow forecasts and reports.
This module covers the main procedures in the Cash and bank management module in Finance and Operations.
You learn how to work with cash and bank management workspaces such as Bank management and Cash overviews. You also learned about the processes and procedures for cash and bank management, like how to make deposits and cancel payments (deposits).
Finance and Operations provides functionality to manage check payments, as well as procedures for resolving special situations with checks.
You can delete, refund, and void checks, in addition to generating and issuing checks according to company specifications.
Because Finance and Operations records all financial transactions, companies can use the bank reconciliation function to match internal company records of transactions against bank statements.
Make deposits and perform payment reversals
Use cash and bank management workspaces
Work with cash and bank management processes.
Use cash and bank management workspaces.
You now have learned what are the bank letters and how to configure letters of credit in order to create bank documents that are commonly used for the purchase and sale of goods across international borders and letters of guarantees where a bank agrees to pay a specific amount of money to a person if one of the bank's customers defaults on a payment or obligation to that person.
Configure letters of credit
Configure letters of guarantee
You will understand bank letters and letters of credit and guarantee.
Every manual posting entered in Finance and Operations is entered through a journal. A journal is a type of worksheet where entries do not post immediately. You can review, change, and verify completed journals until they are ready for posting.
A voucher template is a voucher that can be used as the basis for future vouchers in other journal entries. You can use voucher templates with a general journal or any of the financial sub ledger journals such as Accounts payable and Accounts receivable journals.
You can set up restrictions on the company, account type, and segment values.
Learn about general ledger processes
Create voucher templates
Setup journal controls
You have now learned how to process daily activities in general ledger and use journal control to ap
You worked with balance control accounts to view the balances of either banks or liquidity accounts.
You learned how to benefit from voucher templates for Amount, which is simply copying the exact amou
Intercompany accounting can help organizations by providing a single-entry point for transactions that must be recorded to multiple companies. Making transactions from a single company saves data entry time and helps provide a guarantee that transactions affecting multiple companies are recorded in each company.
Finance and Operations also helps trace the intercompany entries through the system. It has the functionality that is required by most companies that process intercompany transactions. This includes the ability to efficiently record intercompany sales orders, purchase orders, and cash disbursements.
Setup and use intercompany accounting
You will be able to set up and use intercompany accounting.
Finance and Operations provides the capabilities to support accrual schemes.
Configure and apply accrual schemes
Configure ledger allocation rules
You will have learned how to configure and use allocation rules, and how to configure and use accrua
The requirements for tax calculation and tax reporting differ significantly for different countries or regions. Therefore, the Tax module of Dynamics 365 for Finance and Operations is extremely comprehensive.
Understand tax engine components
You now have learned about country and regional tax reporting capabilities in Finance and Operations
configure tax components, such as sales tax authorities, settlement periods, and the sales tax codes
sales tax codes is the main component to define tax calculations and connect all other components
Final assessment and course summary, as well as a post-course survey for the course.
This course is intended for Business Analysts and Functional Consultants.
Although not compulsory, it is recommended that students attend the prerequisite course ‘Introduction to Microsoft Dynamics 365’
This course is intended for Business Analysts and Functional Consultants.