The essential foundation of the Enterprise Resource Planning (ERP) implementation is the financial part, which is considered the backbone of the implementation. The implementation team from the partner side and customer side should ensure that the financial module is well structured and designed. This book provides a broad guide to Microsoft Dynamics 365 for Finance and Operations financial management fundamentals for parties involved in the implementation project, with considerations of the business rationale behind functions, basic setups, configurations, transactions in action, and examples of real-life scenarios.
This book is intended for application consultants, technical consultants, solution architects, in addition to controllers, CFOs, key users, and other professionals who are involved in the Microsoft Dynamics 365 for Finance and Operations implementation project. Basic knowledge of financial terms, concepts, and Microsoft Dynamics 365 for Finance and Operations terminology is required.
Each company has its unique business model, organizational policy, and requirements. This leads to unique challenges for ERP implementation. While going through this book, you may encounter recommendations, guidelines, and experiences I gained from my work experience; however, you may need to adopt the recommendations as per your requirements, based on the particular project size, timeline, business organization structure, and industry.
Chapter 1, Getting Started with Microsoft Dynamics 365 for Finance and Operations, explains the ERP concept, integration of modules, the financial posting mechanisms in Microsoft Dynamics 365 for Finance and Operations, the role of consultant in implementation team, Microsoft Dynamics Sure Step implementation methodology, Microsoft Dynamics Lifecycle Services, and the Microsoft Dynamics 365 for Finance and Operations user interface.
Chapter 2, Understanding the General Ledger, explains the usage of main accounts, control points, and the Microsoft Dynamics 365 for Finance and Operations shared financial data concept. It also gives you a practical insight into opening balance tips and month-end closing procedures. In addition, it covers newly introduced features, such as global the general journal, financial period close.
Chapter 3, Exploring Financial Dimensions, focuses on financial dimensions features in Microsoft Dynamics 365 for Finance and Operations, its practical utilization, and its reporting. In addition, it covers the financial dimension's posting mechanism in transaction documents.
Chapter 4, Understanding Sales Tax, focuses on the sales tax mechanism in Microsoft Dynamics 365 for Finance and Operations, then covers the integration of sales tax with other modules. In addition, it covers the sales tax and withholding tax configurations, controls, and transactions. Finally, it explores the tax declaration process.
Chapter 5, Working with Currencies, focuses on multi-currency capabilities of Microsoft Dynamics 365 for Finance and Operations, cover the setup, mechanism, and daily transactions. Then cover the triangulation currency handling. Finally, it discusses the foreign currency revaluation on sub ledgers and the general ledger.
Chapter 6, Understanding Accounts Payable Basics and Controls, focuses on integrating accounts payable with other modules, vendor master data, and vendor controls.
Chapter 7, Exploring Accounts Payable Transactions, focuses on accounts payable transactions, vendor invoices, payment, and prepayment. In addition, it covers global vendor invoices, and the vendor settlement mechanism in Microsoft Dynamics 365 for Finance and Operations.
Chapter 8, Understanding Accounts Receivable, focuses on integrating accounts receivable with other modules, the customer transactions, sales invoices, free text invoices and its correction, in addition to customer controls and basic master data.
Chapter 9, Understanding Cash and Bank Management, will help you understand the cash and bank management module integration, controls, the bank reconciliation process, and then cover the bank facility function, in addition to working with checks.
Chapter 10, Functioning of Cash Flow Management, focuses on the integration points between cash flow management and other modules in Microsoft Dynamics 365 for Finance and Operations, providing the basic setups, configuration, and cash flow transaction.
Chapter 11, Exploring Budgeting, focuses on the budget capabilities in Microsoft Dynamics 365 for Finance and Operations and basic budget configuration, and then covers the budget planning process and budget control feature. Finally, it discusses budget management in actions.
Chapter 12, Working with Intercompany Accounting, covers intercompany features in Microsoft Dynamics 365 for Finance and Operations characteristics. Then it focuses on configuration, setups, and transactions.
Chapter 13, Working with Consolidation and Elimination, covers consolidation and elimination characteristics in Microsoft Dynamics 365 for Finance and Operations. Then it explores the consolidation and elimination configuration, setup, and process.
Chapter 14, Working with Cost Management, covers the inventory costing model in Microsoft Dynamics 365 for Finance and Operations and provides information about inventory cost setups and configuration, inventory reconciliation with general ledger, recalculation, and closing.
Chapter 15, Exploring Fixed Assets, focuses on the integration of fixed assets with other modules and their transactions. Exploring, fixed assets acquisition, depreciation, disposal, and finally fixed asset statement.
Chapter 16, Exploring Financial Reporting and Analysis, will help you to find out the reporting needs at early stages of the implementation project and what sides you should consider during the project's life cycle. It also explores Microsoft Dynamics 365 for Finance and Operations inquiry forms and SQL Reporting Services (SSRS) reports, in addition to financial reporting capabilities.
Before you start reading this book, you'll need to have a test environment of Microsoft Dynamics 365 for Finance and Operations, Enterprise edition with demo data, in order to practice what you have learned.
You can download the example code files for this book from your account at www.packtpub.com. If you purchased this book elsewhere, you can visit www.packtpub.com/support and register to have the files emailed directly to you.
You can download the code files by following these steps:
- Log in or register at www.packtpub.com.
- Select the
SUPPORTtab. - Click on
Code Downloads & Errata. - Enter the name of the book in the
Searchbox and follow the onscreen instructions.
Once the file is downloaded, please make sure that you unzip or extract the folder using the latest version of:
- WinRAR/7-Zip for Windows
- Zipeg/iZip/UnRarX for Mac
- 7-Zip/PeaZip for Linux
The code bundle for the book is also hosted on GitHub athttps://github.com/PacktPublishing/Microsoft-Dynamics-365-Enterprise-Edition-Financial-Management-Third-Edition. We also have other code bundles from our rich catalog of books and videos available athttps://github.com/PacktPublishing/. Check them out!
We also provide a PDF file that has color images of the screenshots/diagrams used in this book. You can download it here: https://www.packtpub.com/sites/default/files/downloads/MicrosoftDynamics365EnterpriseEditionFinancialManagementThirdEdition_ColorImages.pdf.
There are a number of text conventions used throughout this book.
CodeInText: Indicates code words in text, database table names, folder names, filenames, file extensions, pathnames, dummy URLs, user input, and Twitter handles. Here is an example: "Mount the downloaded WebStorm-10*.dmg disk image file as another disk in your system."
Bold: Indicates a new term, an important word, or words that you see onscreen. For example, words in menus or dialog boxes appear in the text like this. Here is an example: "In order to view all the main account categories, navigate to General ledger | Chart of accounts| Accounts | Main account categories."
Feedback from our readers is always welcome.
General feedback: Email [email protected] and mention the book title in the subject of your message. If you have questions about any aspect of this book, please email us at [email protected].
Errata: Although we have taken every care to ensure the accuracy of our content, mistakes do happen. If you have found a mistake in this book, we would be grateful if you would report this to us. Please visit www.packtpub.com/submit-errata, selecting your book, clicking on the Errata Submission Form link, and entering the details.
Piracy: If you come across any illegal copies of our works in any form on the Internet, we would be grateful if you would provide us with the location address or website name. Please contact us at [email protected] with a link to the material.
If you are interested in becoming an author: If there is a topic that you have expertise in and you are interested in either writing or contributing to a book, please visit authors.packtpub.com.
Please leave a review. Once you have read and used this book, why not leave a review on the site that you purchased it from? Potential readers can then see and use your unbiased opinion to make purchase decisions, we at Packt can understand what you think about our products, and our authors can see your feedback on their book. Thank you!
For more information about Packt, please visit packtpub.com.