Book Image

Microsoft Dynamics 365 Enterprise Edition - Financial Management - Third Edition

Book Image

Microsoft Dynamics 365 Enterprise Edition - Financial Management - Third Edition

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

Exploring consolidation and elimination in action


In the course of normal business operations, daily transactions are executed on the subsidiary level, then you run the elimination and consolidation process. Assuming that subsidiaries have inter-company transactions covering marketing expense, the USMF company pays the expense from its accounts and identifies the expense part for the DEMF company. The following diagram illustrates the subsidiary inter-company transaction, in addition to elimination and consolidation process on the parent company level:

To execute the consolidation and elimination process, navigate to ConsolidationConsolidate online; the parameter dialog will open up to identify the consolidation and elimination criteria, as shown in the following screenshot. Enter the description, identify the consolidation period, and include the actual amounts:

Then, move to Financial dimensions to identify which dimensions will be carried on the consolidation process and what the segment...