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 sales tax integration with other modules


In this section, we will explore the integration between the sales tax submodule and general ledger, accounts payable, accounts receivable, and inventory management modules. We will also illustrate the integration elements of each module at a high level.

Sales tax integration points

In Microsoft Dynamics 365 for Finance and Operations, sales tax is a separate module. Sales tax is integrated with general ledger, accounts payable, accounts receivables, and inventory management:

  • The tax module is the place to set up sales tax calculations, tax authorities, and settlement periods. The general ledger is the place to set up sales tax controls and mechanisms that configure tax deduction options.
  • The accounts payable module is the place to set up sales tax options and execute vendor transactions (invoices and payments).
  • The accounts receivable module is the place to set up sales tax options and execute customer transactions (invoices and payments...