Latest Updates in Microsoft Dynamics 365 Finance

Latest Updates in Microsoft Dynamics 365 Finance

Microsoft Dynamics 365 Finance and Microsoft Dynamics 365 Supply Chain Management are two separate modules, the earlier version of the two being Microsoft Dynamics 365 for Finance and Operations. Microsoft is known to make regular updates to its applications to as it happens, there have been some in the January 2021 upgrade of Dynamics 365 Finance. These can be understood in detail once you schedule an MS Dynamics Finance Demo, but for the meanwhile, a short summary of these has been written below to give users of D365 Finance a fair idea as to what to expect:

End users can resume automated processing for multiple invoices:

The upgrade saves your accounts payable staff time as it allows them to restart processing for multiple vendor invoices through a single step. Each time an imported invoice fails to get submitted to workflow successfully, the system removes sit from further automated processing. The accounts payable clerk can both review as well as edit the invoice before the automated process reruns the entire thing for that invoice. Before the upgrade, unsuccessful invoices had to be submitted for processing one at a time. After the upgrade, end users can restart processing for those invoices, many at a time, where the issue can be fixed by a single step.

History for vendor Invoices gets automated:

The reason why Microsoft has made this move is that it feels that with a simplified historical view of an invoice, both managers, as well as accounts payable professionals, get to save a lot of time. This is being done to accelerate decision-making as time spent searching for information comes down heavily. To go into detail in case your organization happens to have enabled the ability to automatically submit imported vendor invoices to workflow, then automation history will be available for those imported invoices. Automation history is meant to help end-users identify the current process step, in addition to the already completed steps.

RFQ reply fields are now on default mode for vendor bidding:

This move has been undertaken by Microsoft to lend improved control over those fields shared with vendors in requests for quotations (RFQs). By enabling this feature, end-users will be able to specify those types of information they wish to receive from vendors after replying to bid on requests for quotations. What Microsoft has done with this upgraded feature is that those fields that end users mark as default will no be included in the online form provided for vendor collaboration and get printed on RFQ reply sheets sent to vendors. These fields will then be included on the RFQ return document that can be sent to vendors to negotiate prices or delivery times.

Global feature management has been simplified for globalization services:

For a backdrop to understand this better, it so happens that the Regulatory Configuration Service (RCS)lets business and power users configure different types of required regulatory reports, payment formats, business documents, invoices, and tax rules frequently affected by changing legal requirements in one centralized service. Before this upgrade, end users have had to undertake multiple steps to be able to discover, import, and set up features which can sometimes make it very hard to find all related components in addition to setting up parameters that must be completed to enable a specific global feature. For this to happen, a globalize feature functionality has been developed by Microsoft to support the packaging of related artifacts into a deployable bundle. Now after the upgrade, end-users will be able to discover and access Microsoft-empowered globalization features, review and configure related feature components that include electronic reporting format configurations and processing actions, deploy configured globalization features such as Electronic Invoicing Add-On in Globalization Services and centrally store and share globalization features across the services environments.

Changes in unit price and cost price handling in stock transfer orders from India:

The primary purpose of having this feature in the application is to handle unit price and cost price handling in stock transfer orders for India. The functionality is used by customers in India to maintain compliance with local tax regulations. The upgraded feature allows end-users to configure default values of Transfer Type and Price Type in Inventory and warehouse management parameters. End users will be able to correctly recalculate unit price on a stock transfer order line based on inventory dimensions specified on the line until the first shipment gets posted for it. They will be able to prevent the shipment of a stock transfer order line with a unit price of zero. They will be able to post accurate inventory costs for stock transfer orders in case of partial shipments or receipts and batch-controlled items. They will also be able to cancel stock transfer shipments with accurate reversal of inventory costs and taxes.

Interested end users can schedule a MS Dynamics 365 Demo with their Microsoft Partner for better understanding.

Summary: These are some of the latest updates that Microsoft has made in the most recent upgrade of Microsoft Dynamics 365 Finance.