Yet another exciting round of updates is out for Microsoft Dynamics 365 Business Central, and we are here to lay it out for you. After reading this blog you will know exactly what is in it for you to look forward to. We will walk you through the most eye catchy changes that help you work better in the MSDyn365BC environment.

Review General Ledger Accounts

Now ‘Reconcile’ or review entries in the general ledger accounts for smooth periodic reconciliations. While reconciling accounts after a period, users review the entries and identify the ones that accumulate to balance the account under analysis. The new feature makes this review process easier and faster.

Let us understand how. Now the users can mark the entries as “Reviewed.” Only the accumulated entries will be marked unreviewed, uncleared, or unreconciled. After that, you only need a simple filter on the entries, open Excel, and get all details of the balance fully defined.

On the General Ledger Entries page, there is an option for G/L Review to identify the entries to the marked. If you did not mean to mark one as reviewed, remove the "Review" setting.

For companies with a high number of entries that do not wish to spend time marking these past entries, there is an option in General Ledger Setup. Users can mention the date from which to display entries in "Review" so that previous entries will be considered as reviewed. Another feature sets the old general ledger entries to Review status in a bulk background.

For accountants trained to reconcile every balance sheet account every month to define precise transactions to make up the balance amount, it is a particularly useful feature.

Adding Fields from Table to Card Pages, and Lists

Microsoft unlocks all table fields for consultants and users to add them to their pages and personalize their workspace. Developers need not write extensions and add fields from the item table to the item card or list. These changes could be for a single user or anyone in a specific role. This feature helps reduce the time and costs of implementation.

For all your Dynamics Business Central training needs, contact us. For businesses ready to embrace the advanced features of MSDyn365BC we equip them to utilize the electronic banking features, widen their sales, purchasing, and inventory knowledge, and train their teams on complex financial and operational reports.

Undo Transfer Shipments

Till now you could undo a sales shipment or a purchase receipt. The latest feature in Microsoft Dynamics 365 Business Central enables you to undo transfer shipments as well.

Though there are certain limitations like other ‘undo’ options in this feature as well. Direct transfers cannot be undone, nor can undo "ship a transfer line" if there are other receipts against that transfer line. Reservations should be canceled to undo a transfer shipment and the transfer should not have been received.

Streamlining Intercompany

All data moved to one page for partners, a chart of accounts, and dimensions as a part of this feature. Bank transactions are handled in the BI (Business Intelligence) general journal. Inbox and outbox are smoother now with the role center cues added.

Now you can validate your intercompany posting setup to determine if you have incorrect or missing settings across partner companies.

Posting Groups

The new Business Central release allows users to change posting groups on transactions. How is that relevant? The business case for this change is that the release document cites the example that the transaction is for bad debt.

But Business Central users have to understand the implications of allowing changes to vendor and customer posting groups. This is not only in the general ledger entries but in monthly account reconciliation processes as well.

Consider a scenario where you leave a bad debt on a customer or vendor, and it still leaves the value in accounts receivable unless you make an entry to remove it from the customer’s default posting group and add it to the new posting group.

Doing this you still worry about how to run your Aged Receivable Report to balance AR and bad debts. Again, controls are put in place while adding the ability to change posting groups as and when required. Find a setting in Sales and Receivable Setup, in Service Management Setup, and in Purchases and Payables Setup to Allow Alteration of Posting Groups.

Furthermore, in both Customer Posting Groups and Vendor Posting Groups only the defined ‘substitutions’ will be allowed. Set such substitutions and replace the default customer or vendor posting groups specified for them respectively.

When the substitutions are set up a user can choose from the allowed values when posting sales or purchasing documents and journals. The changed posting groups will act as any other customer or vendor posting group in which the changed value is on the posted documents, and the associated general ledger accounts will be used.

Summing up

While some new features of the BC Release 2023 Wave 1 are just too good for the users, some bring in a technical edge with them, which requires an understanding of the intricacies of the tool. Just like the new “posting group” update where there are limited scenarios to utilize it.

Contact us if you want a detailed understanding of all the features that Dynamics 365 Business Central brings to the table, or if you wish to upgrade your current ERP system by switching to the cloud.

Akkomplish homes have the best implementation experts who are also seasoned customization specialists.


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