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

Exploring multi-currency in action 


Daily operations may need to execute transactions in foreign currency, whether in general ledger transactions, vendor transactions, or customer transactions. Due to economy fluctuations in exchange rates,  the company should reevaluate foreign currency transactions to reflect the current economic  value for each currency, and this should be assigned to different ledger accounts for financial reporting. Microsoft Dynamics 365 for Finance and Operations differentiates between an exchange rate being realized or unrealized, and whether it is a gain or loss.  

In order to set up accounts that are used in exchange rates, navigate to General ledger | Ledger setup | Ledger;  in the form go to the Accounts for currency revaluation fast tab and identify the required accounts, as shown in the following screenshot: 

The revaluation accounts shown in the preceding screenshot are used across all currencies. Microsoft Dynamics 365 for Finance and Operations has an option...