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Hi
My organisation is a relatively new business in the financial services industry, which is heavily regulated and we are required to submit a large number of reports to the local prudential regulatory authority mostly variations on our balance sheet. A large part of this reporting to date we have been able to meet using financial reports (formerly management reporter). But there are some requirements where we need to report some assets and liabilities differently to the way we have accounted for them. As a possible solution to this I have done some work in a sandbox environment using a custom posting layer and on initial testing this looks like a good way to manage the adjustments we need to make. In addition as this business matures we will have similar alternate views of the profit and loss reporting we need to do for management accounting. Again use of a posting layer other than the current layer seems a good fit.
I have two question the first is am I on the correct path using different posting layers for these alternative reporting requirements or are there some traps ahead that I should consider before implementing this in production? The second question is there are 8 companies in the organisation and we do have intercompany transactions and having set this up initially I know I can only specify one intercompany journal for each pair of intercompany accounts. This being the case how do I set-up inter-company transactions for other layers or is this not possible? If it is not possible then I am concerned that I will not be able to stop accidental posting of inter-company journals to the wrong layer?
Best regards
Simon
Hi Simon,
If you are using Fixed Assets, you can setup multiple value models to meet a similar requirement. Otherwise, the approach for posting layers is a valid one.
Indeed, the intercompany setup can have only one journal per company pair. If you have requirements to use different posting layers, then this can't be done with the standard application. You can consider not using the IC automatic posting, but post the journals in each LE separately, but that will be more cumbersome and you don't have traceability on related journals and transactions.
You can consider a customization for the posting layers when an IC journal is created that it will take the layer from the originated journal instead of the journal name setup.
Hi Andre
thanks for your reply it has answered my question. We will possibly use the tax layer for fixed assets but we will need to use 1 or more custom layers to make adjustments for our regulatory reporting and management reporting. I will talk to our partner about making a customisation to the IC processing to cater for alternate posting layers. I am not sure if any one has posted this on the ideas site if not I will post this suggestion.
If you have found or posted a new idea, please update this thread, so others could also vote for it if they have similar requirements or think it would be a good addition.
I could not find this posted as an idea so I have posted this idea here https://experience.dynamics.com/ideas/idea/?ideaid=5ccf0d69-69db-ea11-bf21-0003ff68cd36
I hope I can count on your vote?
Voted!
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