We are pleased to share our recent updates made available in the August update of Dynamics 365 for Financials, including improved Excel reporting and accountant experiences, Consolidation, Intercompany, and Return order management for both purchasing and sales, to name a few.

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Design financials reports by using the templates for Excel report

You can now design beautiful financials reports by using the new templates for Excel reports. We have included the Balance Sheet, Income Statement, Cash Flow Statement, Retained Earnings Statement, Aged Accounts Payable, and Aged Accounts Receivable reports have been made available with this update. You can access these reports from the Business Manager and the Accountant Role Centers.

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Company details in the accountant portal

Accountants can now access more company details directly in the accountant portal using two embedded Power BI modules. From the company details, you can also access the Excel reports for Balance Sheet, Income Statement, Cash Flow Statement, Retained Earnings Statement, Aged Accounts Payable, and Aged Accounts Receivable.

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Consolidations

You can now consolidate companies into a parent company. During setup, you can specify the currency to be used. This update introduces a consolidated trial balance that will show you the breakdown of amounts by business units that are set up in the consolidated company. With consolidations, you can combine general ledger entries from multiple companies into one consolidated company.

There is an assisted setup available in the Assisted Setup list, Set Up Consolidated Reporting. Accountants can also run consolidations through the Accountant Role Center.

 

Easier Posting group setup and notification option when missing

The posting group set up has been made easier. Visual indications of mandatory accounts help choose the accounts that must be set up to cover most scenarios that related to a specific posting setup. In addition, the setup has been decluttered by automatically hiding accounts for features that you have not enabled.

The setup has also been made smarter; it can now suggest additional accounts for your postings based on the accounts you have already selected—thereby creating more comprehensive postings.

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Return order management

You can now manage compensation agreements with customers and vendors. Return Orders make it easier to handle returned items, issue credit, charge a restock fee, send replacement items, or to give a price reduction. Sales return-related details for a customer or vendor, such as the method of compensation or information on the returned items can be accessed directly.

Sales return orders can be found under Sales in the Business Manager role center, in the navigation pane of the Sales Order Processor role center, and by using search. Purchase return orders can be found under Purchase in the Business Manager role center and by using search.

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Intercompany transactions

Intercompany Postings allows you to streamline intercompany transactions between multiple companies —for example those located in different regions, using different currencies, or with differing item numbering. You can now automate intercompany transactions to automatically send and receive between companies.

Setting up intercompany transactions will simplify transactions and save time, minimize errors with single-entry of information and system-wide synchronization, and create a complete audit trail with full visibility into business activities and transaction histories.

You find the Intercompany Setup under Setup & Extensions > Manual Setup > Intercompany.

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Standard, LIFO, and Special costing methods

In addition to the FIFO and Average costing methods that have been made available previously, Standard, LIFO, and Special costing methods are now available too. As with FIFO and Average costing methods, the preferred default costing method can be chosen in the Company Wizard.>

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The user experience for workflows has been simplified—meaning users no longer have to know whether a workflow was created in Microsoft Flow or in Dynamics 365. Clicking Approvals will now automatically take you to the appropriate page.

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