Configure and use budgeting, fixed assets, and additional functionality in Finance and Operations

Overview

Duration: 1 day

Organizations use Dynamics 365 for Finance and Operations to elevate their financial performance by increasing profitability, optimizing workforce productivity, reducing operational expenses, adapting quickly to requirement changes, and streamlining asset management. 

This course discusses how to configure and use budgeting, fixed assets, and additional functionality in Dynamics 365 for Finance and Operations.

Objectives

In this course you will learn how to:
  • Process post-dated checks
  • Set up postdated checks
  • Register and post a postdated check for a customer
  • Settle a postdated check from a customer
  • Register and post a postdated check for a vendor
  • Settle a postdated check for a vendor
  • Configure basic budgeting components
  • Configure budget control components
  • Use inquires and reports
  • Create and use budget registry entries
  • Configure Budget planning components
  • Create a budget plan template
  • Configure budgeting processes
  • Create a budget plan by using the budget plan wizard
  • Configure fixed assets components
  • Configure fixed asset parameters
  • Enable fixed asset integration with purchasing
  • Create fixed assets
  • Perform fixed asset acquisition
  • Perform fixed asset depreciation
  • Perform fixed asset disposal
  • Cost control workspace
  • How to create a cost accounting report by using the Cost accounting Get started wizard
  • Configure financial period close
  • Reconcile banks
  • Perform periodic closing, and year closing processes
  • Prepare periodic filings
  • Configure and test Vendor 1099s process
  • Run foreign currency revaluation processes
  • Perform financial consolidation and elimination processes
  • Use Financial reports to create financial statements
  • Process end of year tax reporting
  • Configure Electronic Reporting (ER)
  • Create Electronic reporting (ER) configurations
  • Perform periodic closing, and year closing processes
  • Formula designer in Electronic reporting (ER)
  • Localization and regulatory features
  • Classification of localization features
  • How to apply country and region context
  • How to configure and demonstrate the features of Fiscal Establishments, and Fiscal Documents for a Brazilian localization
  • Test Bill of Exchange process
  • Configure and use Promissory notes
  • Configure and test Electronic invoices (CFDI) for a Mexican localization
  • Set up funds for the public sector
  • Understand bank reconciliation methods
  • Set up derived dimensions
  • Set up derived financial hierarchies for the public sector
  • Advanced ledger entries functionality for Public sector
  • Configure billing codes for free text invoices

Content


Course OutlineModule 1: Configure Post-Dated ChecksPostdated checks are checks that are issued to make and receive payments on a future date. Therefore, the check can't be cashed until the specified date.Microsoft Dynamics 365 for Finance and Operations supports the full management cycle for post-dated checks in both Accounts receivable and Accounts payable. This topic explains how to set up and process post-dated checks.

Lessons
  • Introduction
  • Manage post dated checks
  • Practice Labs
  • Module Summary

Module 2: Configure and Use Basic Budgeting and Budget Control ProcessesEvery organization, whether it is private or public, sets financial and operational goals by creating budgets. When the budget is established, management monitors the activities within the budget framework.This module provides information about the how to configure and use basic budgeting and budget control.

Lessons
  • Introduction
  • Configure basic budgeting components
  • Configure budget control components
  • Create and test budget registry entries
  • Use inquiries and reports
  • Practice Labs
  • Module summary

Module 3: Configure and Use Budget Planning ProcessesWith budget planning functionality you can consolidate multiple budget plans from a lower level into a single parent budget plan at a higher level in the organization. This is called bottom up approach budget planning which allows a budget planner to aggregate other plans into a high level or corporate plan for budgeting.You can also take the top down approach which requires developing a single budget plan at a higher level of the organization and allocate the budget to lower levels of the organization. Use this method when you rely on historical financial transactions of your company and create a centralized plan which can be allocated throughout different operating units defined by an organization hierarchy with Budget planning purpose.The budget planner as a final step of the budget planning, generates the budget register entry based on budget plan.An organization can configure budget planning, and then set up budget planning collaborative processes to meet its policies, procedures, and requirements for budget preparation. This topic explains how to configure and test Budget planning processes.

Lessons
  • Introduction
  • Configure budget plannign components
  • Practice Lab
  • Module summary

Module 4: Configure Fixed Assets ManagementThis module starts with explaining fixed assets concepts and then shows you how to configure and use the Fixed assets module in Dynamics 365 for Finance and Operations.

Lessons
  • Introduction
  • Configure fixed asset components
  • Enable fixed asset integration
  • Create fixed assets
  • Practice labs
  • Module summary

Module 5: Manage Fixed AssetsTo record fixed asset transactions using journals, you must create at least one journal name using the journal type Post fixed assets in the setup of the General ledger module. If budgets for fixed assets are required, you must also create a journal name that uses the journal type Fixed asset budget. This module explains how to process and manage fixed assets.

Lessons
  • Introduction
  • Perform fixed assets tasks
  • Practice labs
  • Module summary

Module 6: Configure and Use Cost AccountingCost accounting lets you collect data from various sources, such as the general ledger, sub-ledgers, budgets, and statistical information. You can then analyze, summarize, and evaluate cost data, so that management can make the best possible decisions for price updates, budgets, cost control, and so on. The source data that is used for cost analysis is treated independently in Cost accounting. Therefore, updates in Cost accounting don’t affect the source data.

Lessons
  • Introduction
  • Cost control workspace
  • Practice lab
  • Module summary

Module 7: Configure and Use Periodic ProcessesIn General ledger, you can complete closing procedures for a period or a year. Closing processes prepare the system for a new period.There are many tasks such as preparing filings, inventory closing, consolidation and many more needs to be completed first.To prepare the system for a new year, you must run the year end close process. Each organization has different processes and steps that it performs for the end of a period.

Lessons
  • Introduction
  • Bank reconciliations
  • Configure financial period close
  • Prepare periodic filings
  • Run foreign currency revaluation processes
  • Perform financial consolidations
  • Process end of year close
  • Practice Labs
  • Module summary

Module 8: Configure the Electronic Reporting FrameworkGeneric Electronic Reporting (GER) or simply Electronic Reporting (ER) is a configurable tool for regulatory reporting, payments and electronic invoicing.The ER engine is targeted at business users instead of developers. Because you configure formats instead of code, the processes for creating and adjusting formats for electronic documents are faster and easier.ER currently supports the TEXT, XML, PDF, Microsoft Word document, and OPENXML worksheet formats. However, an extension interface provides support for additional formats.

Lessons
  • Introduction
  • Configure electronic reporting
  • Formula designer in electronic reporting
  • Practice Lab
  • Module summary

Module 9: Configure Localized FeaturesDynamics 365 for Finance and Operations includes functionality for the countries and regions documented in the Product localization and translation availability guide.This module explains how to configure some examples of regional features in Finance and Operations. Please read the information on the Localization and regulatory features page to stay updated with the regional functionality of Finance and Operations for all countries/regions.

Lessons
  • Introduction
  • Localization and regulatory features
  • Classification of Mexican localization features
  • Understand the global tax engine
  • Understand the features of fiscal establishments and documents for Brazilian localization
  • Bill of Exchange
  • Electronic Invoices
  • Practice Labs
  • Module summary

Module 10: Configure Financial Management for Public SectorThe Public Sector, also referred to as the state and local sector, is predominantly a services industry managing the welfare of its citizens. The public sector industry includes organizations in the fields of municipalities, education, healthcare, public safety, public works and infrastructure, national defense, taxation, and various social programs.

Lessons
  • Introduction
  • Setup funds for the public sector
  • Setup derived financial hierarchies
  • Configure billing codes for free text invoices
  • Practice Labs
  • Module summary
Module 11: Course ConclusionFinal assessment and course summary, as well as a post-course survey for the course.Lessons
  • Final assessment
  • Course summary
  • Post-course survey
You will have completed the course.

Audience

A Dynamics 365 for Finance and Operations Functional Consultant is responsible for performing discovery, capturing requirements, engaging subject matter experts and stakeholders, translating requirements, and configuring the solution and applications. The Functional Consultant implements a solution using out of the box capabilities, codeless extensibility, application and service integrations.

Prerequisites

Basic understanding of ERP, CRM concepts.

Certification

Schedule

Course ID:
MB-310T03-A


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