Dynamics 365 – Cost Accounting Ledger Teaser

An exciting new functionality is now available in Dynamics 365 for Operations. A Cost Accounting Ledger is now available to take Cost Accounting to a new level. In previous AX versions, cost accounting functionality has been available, but with the creation of the Cost Accounting Ledger, Microsoft has opened up a completely new realm of possibilities.

The Cost Accounting Ledger is a stand-alone structure, defined with currency and a calendar. Multiple cost accounting ledgers can be put in place as the organization requirements dictate and creativity runs wild. Management Reporter can then utilize the cost accounting ledgers to report out the many views of cost that a company needs to see. 

Foundationally, Cost Elements are used to classify or categorize the cost transactions, and Cost Objects are used to aggregate the costs.

Before Cost Accounting Ledgers can be implemented, the set-up to be done includes: 

• Cost Element Dimensions

• Cost Object Dimensions

• Statistical Dimensions (optional)

• Dimension Hierarchies

• Cost Accounting Ledgers

Check out the full blog for a walk through and screenshots of the setup!