Namith Hosmane's Blog

Microsoft in the recent months has released some very useful finance features for D365 finance application which has been blogged by some of the Microsoft Dynamics enthusiasts around the world. Microsoft themselves has released docs to cover the feature’s briefly.

In this blog, I am summarizing some of the key features released by Microsoft recently with reference links for all those who wants to learn and understand about these new features.

Dual currency:

‘Dual currency’ concept is track all sub-ledger transactions in reporting currency, this has given the real purpose to the reporting currency by not just being used for general ledger reporting but also at sub-ledger level for reporting and other functionalities. Microsoft termed reporting currency as ‘Secondary accounting currency’.

Microsoft has continued to enhance dual currency features with recently released feature to control dual currency consolidations

Below are some of the useful links to know more about these functionalities,

Settle remainder:

Settle remainder is one of the key enhancements from Microsoft in recent releases, this functionality provides an ability to set the defaults to create the journal entry for remaining open transactions balance and settle them. It is usual business scenario that customer short pays on invoices where outstanding balances will be written off or the remaining transaction balance will be moved to different customer account.

Please refer to below link to understand more on this functionality.

Bank Foreign currency revaluation:

Bank foreign currency revaluation is most requested functionality from old versions of Dynamics, previously this functionality was enabled for Russia due to local requirement and most of the customer had to do modifications to enable the feature outside Russia. However, Microsoft has now made it part of standard D365 finance app.

With this user do not need to re-valuate the bank ledger account directly which creates mismatch between the bank ledger account total and sub-ledger account total. This feature also has capability to run the revaluation across all legal entities from a single screen.

Please refer to below link to understand more on this functionality.

Expense reports re-imagined

Microsoft has enhanced the expense management module to simplify the process of completing expense reports and decrease the time that is required, this helps users to be productive by focusing on key day to day activities.

This functionality can be enabled in feature management to add a new setup form to configure expense fields visibility to determine what data is required, optional, or not enabled for entering expense reports. A new expense workspace is enabled with this feature, replacing the previous expense workspace and is the landing page for the improved entry experience.

Revenue Recognition:

Revenue recognition is one of the most awaited features from Microsoft released in Wave 2. This feature provides an ability to perform revenue recognition on sales orders and time and materials projects to fulfill US Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS) requirements.

Please read the below articles to understand more on this space,

Feature management:

This is not a finance feature but wanted to discuss on this because new features added in every release will be now controlled through feature management workspace where it lists all the feature to enable and view the documentation on new feature. Most of the above features discussed in this blog are controlled through feature management.

Please refer the below articles for more information on feature management

Hope this helps!

Best regards,

Namith Hosmane