Book Image

Microsoft Dynamics 365 Enterprise Edition - Financial Management - Third Edition

By : Mohamed Aamer Ala El Din
Book Image

Microsoft Dynamics 365 Enterprise Edition - Financial Management - Third Edition

By: Mohamed Aamer Ala El Din

Overview of this book

Microsoft Dynamics 365 for finance and operations is a rapidly growing application and is widely used in enterprise organizations. Because of its ability to maximize business productivity, it is a fast-growing business application package in the ERP market. We will start by looking into ERP concepts, implementation needs, and interface design, giving you basic knowledge of financial management aspects and explaining key concepts along the way. To begin with, you'll be taken through the general ledger and financial dimension functions. You'll later learn about the sales tax mechanism and multi-currency in Microsoft Dynamics 365. We tackle each topic with focused examples and explanations on topics such as payable/receivable accounts, forecasting, cash and bank management, budgeting planning/control, and fixed assets. Finally, we walk you through intercompany, consolidation, costing basics, and financial reporting. By the end of this book, your finance team will have a much richer understanding of Microsoft Dynamics 365 for finance and operations and its powerful capabilities.
Table of Contents (24 chapters)
Title Page
Copyright and Credits
Dedication
Packt Upsell
Contributors
Preface
Index

Understanding the setup and configuration of intercompany accounting


The intercompany elements in Microsoft Dynamics 365 for Finance and Operations include defining main accounts to be used for intercompany entries. It is recommended to use different accounts for each subsidiary in order to streamline the reconciliation of intercompany entries. Then, each subsidiary should have separate journal names for intercompany transactions, and should also use different vouchers for intercompany transactions for easy tracking. Finally, moving on to intercompany accounting configuration, assign the created due to and due from main accounts for the originating company and the destination company, in addition to a journal name. The following diagram illustrates the intecompany elements:

 

To configure intercompany accounting, navigate to General ledger | Posting setup | Intercompany accounting, as shown in the following screenshot:

To execute intercompany transactions, Microsoft Dynamics 365 for Finance...