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

Posting types in Microsoft Dynamics 365 for Finance and Operations


In Microsoft Dynamics 365 for Finance and Operations, there are two ways to post transactions to the main account. The first way is through the posting profile, which represents the integration point between the general ledger and sub-ledger and generates the financial entries automatically, according to the posting profile's setup. The second way is the journal entries, which post directly to the ledger accounts.

The posting profile concept

Posting profiles are the point of integration between the sub-ledger (fixed assets, accounts payable, inventory, banks, accounts receivable, project, and production) and the general ledger. It is a set of main accounts that are used to generate the automatic ledger entry in which a transaction has occurred. It is possible to select different main accounts for each type of sub-ledger transaction. Microsoft Dynamics 365 for Finance and Operations offers flexibility in setting up posting profiles...