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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

As a Dynamics 365 for Finance and Operations Functional Consultant, you analyze business requirements and translate them into fully realized business processes and solutions that implement industry-recommended practices. You have a fundamental understanding of accounting principles and a deeper understanding of financial operations as they relate to core finance, manufacturing, retail, and supply chain management operations. You specialize in one or more feature sets of Dynamics 365 Finance including core finance, general ledger, tax, cost accounting, cost management, fixed assets, asset leasing, budgeting, revenue recognition, consolidation and elimination, credit and collections, cash and bank management, and expense management. You understand the relationships between finance and manufacturing, retail, and supply chain management.

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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. 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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7. Configure Accounts payable in Dynamics 365 Finance

You can enter vendor invoices manually or receive them electronically. You learn how to configure the Accounts payable module in Dynamics 365 Finance to empower accounts payable staff to perform their daily activities.

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8. Process purchase order invoices in Dynamics 365 Finance

Through tools like the invoice register, approval journals, and vendor invoices, Dynamics 365 Finance streamlines invoice management, enhances accuracy, and provides flexibility to help meet diverse organizational needs.

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9. Work with accounting distributions, invoice validations, and settlements in Dynamics 365 Finance

Accounting distributions are used to define how an amount is accounted for. For example, how the expense, tax, or charges are accounted for on a vendor invoice. Every amount must be accounted for when the vendor invoice is journalized has one or more accounting distributions.

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10. Set up and use Intelligent OCR for vendor invoices in Dynamics 365 Finance

Optical character recognition (OCR) is a technology that enables organizations to automate data extraction from scanned documents or images. You can convert text from the source document to machine-readable data within Dynamics 365 Finance.

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11. Get started with Expense management in Dynamics 365 Project Operations

The Expense management module in Microsoft Dynamics 365 Project Operations allows organizations to track and manage employee expenses. Expense management lets you store payment information, import credit card transactions, and track money that employees spend when they incur expenses for your organization. You can also set up expense policies, automate approvals, and provide a streamlined business process by using Project Operations.

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12. Set up and configure Expense management in Dynamics 365 Project Operations

The Expense management module provides users with a more simplified process to handle expenses. The Expense management workspace is where users can file their expenses, while Expense management workflows and features like optical character recognition (OCR) for scanning receipts can help optimize your organization's expense processes.

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13. Set up and use basic budgeting Dynamics 365 Finance

Basic budgeting in Dynamics 365 Finance is the process of creating, managing, and monitoring budgets. It involves defining budget parameters, setting up budget models, creating budget register entries, and analyzing budget versus actual performance.

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14. Set up and use budget control in Dynamics 365 Finance

Every organization, whether it’s private or public, sets financial and operational goals by creating budgets. When the organization establishes its budget, management monitors the activities within the budget framework. This module provides information about how to set up and use basic budgeting and budget control in Dynamics 365 Finance.

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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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17. Manage fixed assets in Dynamics 365 Finance

The key to correctly managing your fixed assets in Dynamics 365 Finance is to focus on budgeting, transfers, group setup, and updates. Additionally, you can review the fixed assets rollover reports for period closing, financial statements, and tax reporting in the familiar Excel format.

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18. Work with fixed asset deprecation and disposal in Dynamics 365 Finance

Managing fixed assets involves careful tracking of depreciation, disposal, and valuation. By using various transaction types and following defined procedures, organizations can accurately account for fixed asset transactions and maintain financial transparency.

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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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