Financial Management

In this module students will learn some benefits of financial management of Dynamics 365 for Finance and Operations.

Lessons

• Benefits of financial management
• Financial management
• Module summary

Students became familiar with modules in Finance and Operations related to financial management and their overall features and functionality.

Configure Currencies

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.

Lessons

• Introduction
• Setup legal entity currencies and conversions
• Configure and import currency exchange rates
• Practice lab
• Module summary

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.

Create fiscal calendars, years and periods

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.

Lessons

• Introduction
• Create fiscal calendars, years and periods
• Create date intervals
• Practice lab
• Module summary

In this module, students learned how to:

• Differentiate between ledger and fiscal calendars
• Configure and set up fiscal calendars, years, and periods

Create and use date intervals

Configure Chart of Accounts

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.

Lessons

• Introduction
• Define and configure the chart of accounts
• Define and configure the financial dimensions
• Define and configure account structures and rules
• Practice labs
• Module summary

In this module, students learned how to:

• Identify the required components for the chart of accounts
• Define and configure the chart of accounts
• Define and configure the financial dimensions and dimension sets
• Configure chart of accounts, main accounts, categories, templates, ledger account alias, and balance control

Configure account structures and advanced rules

Configure Ledger and Journals

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.

Lessons

• Journals and their setup
• Configure ledger and journal setup
• User journals
• Practice lab
• Module summary

In this module students learned about:

• Different types of journals and their setup
• How to configure ledger and posting setup

How to configure and use journals

Configure Cash and Bank Management

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.

Lessons

• Introduction
• Bank transaction types and groups
• Setup cash and bank management parameters
• Configure banks and bank checks
• Deposit and refund checks
• Cash flow
• Practice Labs
• Module summary

In this module, students learned how to:

• Create and configure banks
• Create and configure bank layouts
• Configure cash and bank management parameters
• Set up vendor and customer banks

Configure cash flow forecasts and reports

Use Cash and Bank Management

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.

Lessons

• Make deposits and perform payment reversals
• Use cash and bank management workspaces
• Practice Labs
• Module summary

In this module, students learned how to:

• Work with cash and bank management processes
• Use cash and bank management workspaces
• Make deposits

Cancel payments