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Overview

This course covers the financial aspects of Dynamics 365: configure and use essential financial components, accounts payable, accounts receivable, collections, budgeting, fixed assets, and additional functionality

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What You'll Learn

  • The benefits of Dynamics 365 Finance.
  • An overview of features in Finance.
  • Different types of currencies in Finance.
  • The concept of triangulation currency.
  • How to set up legal entity currencies and conversions.
  • How to configure exchange rate providers.
  • How to import exchange rates from providers.
  • Differentiate between ledger and fiscal calendars.
  • Configure and set up fiscal calendars, years, and periods.
  • Create and use date intervals.
  • Identify the required components for chart of accounts
  • Define and configure the chart of accounts
  • Define and configure the financial dimensions and dimension sets
  • Configure chart of accounts, main accounts, categories, templates, ledger account alias and balance control
  • Define financial tags
  • Configure account structures and advanced rules
  • Discover different types of journals and their setup.
  • Learn about ledger and posting setup.
  • Learn how to set up and use journals.
  • Learn how to reverse journal posting.
  • Learn how to set up batch transfer rules.
  • General ledger processes.
  • Balance control accounts.
  • Journal controls.
  • Voucher templates.
  • Ledger settlements.
  • Set up intercompany accounting
  • Use intercompany accounting to post journals between two different legal entities
  • Configure and use accruals.
  • Configure and use allocations.
  • Configure financial period close.
  • Reconcile banks.
  • Perform periodic closing and year closing processes.
  • Prepare periodic filings.
  • Configure and work with vendor 1099 processes.
  • Run foreign currency revaluation processes.
  • Perform financial consolidation and elimination processes.
  • Process end of year tax reporting.
  • Create and configure banks.
  • Create and configure bank layouts.
  • Configure cash and bank management parameters.
  • Set up vendor and customer banks.
  • Configure cash flow forecasts and reports.
  • Learn about regional tax reporting capabilities.
  • Configure tax components.
  • Configure Accounts receivable components.
  • Create and maintain a customer.
  • Configure customer payments.
  • Set up payment calendars and calendar rules.
  • Set up customer posting profiles.
  • Configure accounts receivable charges.
  • Create free text invoices and record customer payments.
  • Distribute funds by using accounting distributions.
  • Configure recurring invoices.
  • Use reversals in Accounts receivable.
  • Understand revenue recognition.
  • Configure credit and collections components.
  • Configure aging reports, customer pools, collection agents, and aging period definitions.
  • Set up and manage interests.
  • Set up and manage collection letters.
  • How to use customer account statements.
  • How to process collections.
  • How to use the credit management feature.
  • Configure accounts payable components.
  • Create and maintain a vendor.
  • Configure vendor payments.
  • Set up vendor posting profiles.
  • Configure accounts payable charges.
  • Record invoices and process payments.
  • Manage and apply prepayments.
  • Settle transactions and undo settlements.
  • Distribute funds by using accounting distributions.
  • Configure invoice validation policies.
  • Learn about Expense management capabilities.
  • Discover Expense management features.
  • Review considerations for planning to use the Expense management module in Project Operations.
  • Discover the Expense management workspace.
  • Learn how to turn on the Expense reports re-imagined feature.
  • Review the Expense management parameters.
  • Learn about workflow functionality for expense management.
  • Set up expense policies, and evaluate policies using the Audit workbench.
  • Set up mileage expense options.
  • Set up credit card transaction processing and import credit transactions.
  • Review expense report policies and per diem rules.
  • Create and maintain an expense report.
  • Learn about intercompany expenses.
  • Learn how to post, approve, and delegate expense reports.
  • Discover reporting options for expense management.
  • Create a travel requisition.
  • Review travel requisition options.
  • Learn about the travel requisition approval process.
  • Configure basic budgeting components.
  • Configure budget control components.
  • Use inquires and reports.
  • Create and manage budget register entries.
  • Configure budget planning components
  • Configure fixed assets components.
  • Configure fixed assets parameters.
  • Enable fixed assets integration with purchasing.
  • Create fixed assets.
  • Perform fixed asset acquisition
  • Perform fixed asset depreciation
  • Perform fixed asset disposal

Who Should Attend

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.

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Prerequisites

Please review the prerequisites listed for each module in the course content and click on the provided links for more information.

Learning Journey

Want to boost your career in Microsoft? Click on the roles below to see the learning pathways, specially designed to give you the skills to succeed.

1. Configure and use the general ledger in Dynamics 365 Finance

Dynamics 365 Finance empowers business users to control finances and manage funds with accurate information at any time for financial planning and forecasting, and stay up to date with analytics. Since finance is the heart of the business, and the General ledger module is the heart of financial management, this learning path shows you how to set up functionality in the General ledger module. It also covers how to complete closing procedures for a period or a year.

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2. Work with analytics and reporting in finance and operations apps

Business leaders can make important decisions in their company if they have accurate insight into the underlying financial and operational data. Without data visibility, business leaders are challenged with a nearly impossible task. By using analytics and reporting in finance and operations apps, you can empower every business user, depending on their security rights, to get the insights they need to make those important decisions.

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3. Configure cash and bank management in Dynamics 365 Finance

With cash and bank management in Dynamics 365 Finance, you can record and reconcile financial transactions against the bank statement and identify bank transaction types such as deposits and nonsufficient funds (NSF).

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4. Set up taxes in Dynamics 365 Finance

Setting up taxes in Dynamics 365 Finance offers many benefits, including automated and accurate tax calculations. As a result, your organization can ensure that it complies with national and regional tax laws. To help improve efficiency, your organization can streamline the tax management process by automating postings to ledger accounts.

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5. Work with taxes in Dynamics 365 Finance

Working with taxes in Dynamics 365 Finance is important for ensuring compliance with tax regulations, accurate financial reporting, and efficient tax management. Proper tax configuration helps your organization manage complex tax scenarios, including withholding taxes, sales tax exemptions, and conditional taxes. As a result, your organization can tax and report all transactions correctly to the relevant authorities.

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6. Get started with cost accounting in Dynamics 365 Finance

Cost accounting lets you collect data from various sources, such as the general ledger, subledgers, 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.

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7. Get started with inventory management in Dynamics 365 Supply Chain Management

Inventory management in Dynamics 365 Supply Chain Management helps you streamline the tracking, control, and optimization of inventory throughout your organization.

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8. Set up and work with inventory control in Dynamics 365 Supply Chain Management

This module explores inventory cost methodologies and their impact on value, profits, and price management. You learn about methods, such as FIFO, LIFO, weighted average, standard cost, and their effects on inventory valuation and financial reporting. Additionally, you learn about the inventory close process, its role in settling transactions, and its impact on the general ledger. Then, you examine inventory recalculation, adjustments, and archiving for optimized storage and performance efficiency.

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9. Use inventory reports in Dynamics 365 Supply Chain Management

One of the factors for a successful business is having visibility into how much inventory exists at any given time. Inventory reports in Dynamics 365 Supply Chain Management will show how much inventory you have in variety of different ways, and will explain how to be more effective in your inventory investments.

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10. Work with the costing sheet in Dynamics 365 Supply Chain Management

Manufacturing companies need to calculate the costs that are related to finished goods that are being produced such as labor, materials, surcharges, and overheads. You can configure Dynamics 365 Supply Chain Management to calculate costs of bill of materials of the finished goods in production. Additionally, you can create costing sheets that are broken out by particular cost categories, incorporate routing costs, and even add surcharges and other indirect costs. Companies can then analyze, summarize, and evaluate cost data so they can make the best possible decisions for price updates, budgets, cost control, and so on.

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11. Work with accounts receivable in Dynamics 365 Finance

Configure the Accounts receivable module in Dynamics 365 Finance to create customer invoices, post packing slips, and use free text invoices that are not related to sales orders. In this learning path, you will also learn how to do daily tasks in accounts receivable.

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12. Work with accounts payable in Dynamics 365 Finance

Accounts payable are a liability due to a creditor when you order goods or services without paying in cash up front, which means that you buy goods on credit. Learn how to configure accounts payable in Dynamics 365 Finance, record vendor invoices, and distribute expenses, tax, and charges across accounts.

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13. Work with Expense management in Dynamics 365 Project Operations

Maximize profitability and minimize cost with accurate expense management capabilities in Dynamics 365 Project Operations. Learn how to configure the system, and create, and approve expense reports.

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14. Configure and use budgeting in Dynamics 365 Finance

Every organization, whether it's private or public, sets financial and operational goals by creating budgets. With the collaborative and process-driven nature of budget planning, you can make your budget process more efficient.

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15. Configure fixed assets management in Dynamics 365 Finance

Learn how to configure and create fixed assets to comply with international accounting standards.

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16. Set up and acquire fixed assets in Dynamics 365 Finance

Discover how to efficiently manage fixed assets in Dynamics 365 Finance with step-by-step instructions for setup, acquisition, and recording.

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Instructors

Scott Duffy

Bestselling Azure & TOGAF® Trainer, Microsoft Azure MVP

4.8 (4.1k)
|
10 Courses
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Scott Duffy

Bestselling Azure & TOGAF® Trainer, Microsoft Azure MVP

4.8 (4.1k)
|
10 Courses
profile-instructor-a.png

Skills Measured

  • Set up and configure financial management (40—45%)
  • Implement accounts receivable, credit, collections, and revenue recognition (15—20%)
  • Implement and manage accounts payable and expenses (10—15%)
  • Manage budgeting (10—15%)
  • Manage fixed assets (10—15%)

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