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Dynamics 365 Community / Forums / Finance | Project Operations, Human Resources, ... / what is the benefit of...
Finance | Project Operations, Human Resources, ...
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what is the benefit of financial tags?

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Posted on by JuleWergne
Hi all,
 
I tested Financial tags feature in D365 FO and still can not understand:
what is the major benefit of it?
Actually, we have already financial dimensions and a field /Description/ as free-text field.
 
 
where and what for we can use financial tags?
are here some consultants/enterprises, who use it in a productive system? could you probably bring a couple of examples for financial tags?
 
Thank you so much!
 
 
  • Suggested answer
    saurabh bharti Profile Picture
    saurabh bharti 15,029 Super User 2024 Season 2 on at
    what is the benefit of financial tags?
    Hi ,
     
    Adding to others response, you also have financial tags available on your voucher transactions as columns which helps you to slice and dice your financial transactions based on these tags and this is going to enhanced in future defintely e.g. using this in Financial reports etc...
     
    Yes you can have financial dimensions but manatianing more financial dimensions is always a pain for business, so we can keep only mandatory dimensions in financial diemnsions and rest in financial Tags
  • Suggested answer
    Umesh Pandit Profile Picture
    Umesh Pandit 9,298 User Group Leader on at
    what is the benefit of financial tags?
    Financial tags let organizations track user-defined fields on accounting entries posted to the general ledger. Financial tags are an alternative to financial dimensions and should be used to track transaction-specific data, such as document numbers and even some master data.
  • Verified answer
    André Arnaud de Calavon Profile Picture
    André Arnaud de Cal... 291,735 Super User 2024 Season 2 on at
    what is the benefit of financial tags?
    Hi Jule,
     
    There might be a lot of use cases for the tags. The advantage for me is that you can edit the tags after a transaction has been posted. You can also use the tags as input for ledger settlements.
     
    In scenarios where you have a temporary value, you would not need to maintain a lot of one time only dimension values, but you can then use the tags. 

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