Instructor-led (classroom)
Intermediate
2 Days
English
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.
Basic understanding of ERP and CRM concepts.
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.
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In this module students will learn some benefits of financial management of Dynamics 365 for Finance and Operations.
Students became familiar with modules in Finance and Operations related to financial management and their overall features and functionality.
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.
Students have now learned about different types of currencies in Finance and Operations. They are also now familiar with the concept of triangulation currency, how to set up legal entity currencies, and conversions. From the video, students learned how to configure exchange rate providers and use them to import exchange rates into an exchange rate type.
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. This module explains fiscal and ledger calendar management in Finance and Operations.
In this module, students learned how to:
Create and use date intervals
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.
In this module, students learned how to:
Configure account structures and advanced rules
A journal is a worksheet that one can use before manually enter postings into the system. When set up correctly, journals allow to quickly and efficiently manage posting. To use a journal, there must be a journal name, and the configuration of the ledger, journal, and posting of the General ledger module should be complete. By using the General ledger journal directly or via the General ledger processing workspace, one 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.
In this module students learned about:
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; Address; Other contact information; Currency; Check setup; and Main account for posting. Finance and Operations uses this information to process all bank transactions, such as payments and deposits.
In this module, students learned how to:
Configure cash flow forecasts and reports
This module covers the main procedures in the Cash and bank management module in Finance and Operations. Students learned how to work with cash and bank management workspaces, such as Bank management and Cash overviews. Students 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. One 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.
In this module, students learned how to:
Cancel payments
Students now have learned what the bank letters are; 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 about letters of guarantee, 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.
Students 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. One 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. One can use voucher templates with a general journal or any of the financial sub ledger journals, such as Accounts payable and Accounts receivable journals. One can set up restrictions on the company, account type, and segment values.
Students have now learned how to process daily activities in general ledger and use journal control to apply rules during data entry. They’ve worked with balance control accounts to view the balances of either banks or liquidity accounts.
Students also learned that one can only use the balance control prior to posting to ensure that the entries are correct.
Lastly, they learned how to benefit from voucher templates for Amount, which is simply copying the exact amount of the template as new lines, or Percent, which converts the amounts in the voucher into percentage factors; this allows any amount to be applied when the voucher template is selected.
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.
Students will be able to set up and use intercompany accounting.
Finance and Operations provides the capabilities to support accrual schemes.
Students will have learned how to configure and use allocation rules, as well as how to configure and use accrual schemes. Finance and Operations provides the following capabilities to support this process:
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.
Students now have learned about country and regional tax reporting capabilities in Finance and Operations.
In this module, students learned how to configure tax components, such as sales tax authorities, settlement periods, and the sales tax codes. Additionally, they learned that sales tax codes are the main component to define tax calculations and connect all other components in the tax so that Finance and Operations can automatically calculate and post transactions for settlement based on the period interval assigned by an authority.
Final assessment and course summary, as well as a post-course survey for the course.
Students will have completed the course.
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