Microsoft Dynamics 365 Finance

Course Overview

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 essential components of financial management in Dynamics 365 for Finance and Operations.

Target 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.

Course Content

MB-310T01

Module 1: Financial Management

In this module you will learn some of benefits of financial management of Dynamics 365 for Finance and Operations.

Lessons for module 1

• Benefits of financial management
• Financial management
• Module summary

You became familiar with modules in Finance and Operations related to financial management and their overall features and functionality.

Module 2: Configure Currencies

One of the first and most important steps of implementing financial management in Dynamics 365 for Finance and Operations is currency setup. Currency setup is a required step in the configuration of the system and is used to record financial transactions. This module explains currency management in Finance and Operations.

Lessons for module 2

• Introduction
• Setup legal entity currencies and conversions
• Configure and import currency exchange rates
• Practice lab
• Module summary

You have now learned about different types of currencies in Finance and Operations. You are also familiar with the concept of triangulation currency, how to set up legal entity currencies and conversions.

In the video, you learned how to configure exchange rate providers and use them to import exchange rates into an exchange rate type.

Module 3: Create fiscal calendars, years and periods

Before posting transactions, a new fiscal year must be divided into periods. This is because transactions cannot post unless a period is created for the posting date and shared across multiple legal entities. A benefit of sharing fiscal calendars is that this supports multiple fiscal calendars for each legal entity. The fiscal year in Finance and Operations can be set to any length and divided into any number of periods. This module explains fiscal and ledger calendar management in Finance and Operations.

Lessons for module 3

• Introduction
• Create fiscal calendars, years and periods
• Create date intervals
• Practice lab
• Module summary

In module 3, you learned how to:

• Differentiate between ledger and fiscal calendars.
• Configure and set up fiscal calendars, years, and periods.
• Create and use date intervals.

Module 4: Configure Chart of Accounts

A chart of accounts is a set of main accounts in Finance and Operations that captures financial information upon posting a journal. Each account is assigned an account number as a unique identifier.

Lessons for module 4

• Introduction
• Define and configure the chart of accounts
• Define and configure the financial dimensions
• Define and configure account structures and rules
• Practice labs
• Module summary

In module 4, you learned how to:

• Identify the required components for the 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.
• Configure account structures and advanced rules.

Module 5: Configure Ledger and Journals

A journal is a worksheet that you can use before you manually enter postings into the system. When you set them up correctly, journals allow you to quickly and efficiently manage posting. To use a journal, you must have a journal name, and should complete the configuration of the ledger, journal, and posting of the General ledger module. By using the General ledger journal directly or via the General ledger processing workspace, you can perform daily activities as someone who is assigned proper security role to access the General ledger. A journal name gives financial leaders the capability to control data entry validation and restrict posting of a journal name for users differently.

Lessons for module 5

• Journals and their setup
• Configure ledger and journal setup
• User journals
• Practice lab
• Module summary

In module 5. you learned about:

• Different types of journals and their setup.
• How to configure ledger and posting setup.
• How to configure and use journals.

Module 6: Configure Cash and Bank Management

In Dynamics 365 for Finance and Operations, organizations use the Cash and bank management module to create and maintain bank accounts. The Bank account table contains a record for each bank account. Each record contains bank account information, such as the following: - Registration number and account number - Address - Other contact information - Currency - Check setup - Main account for posting Finance and Operations uses this information to process all bank transactions, such as payments and deposits.

Lessons for module 6

• Introduction
• Bank transaction types and groups
• Setup cash and bank management parameters
• Configure banks and bank checks
• Deposit and refund checks
• Cash flow
• Practice Labs
• Module summary

In module 6, you learned how to:

• 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.

Module 7: Use Cash and Bank Management

This module covers the main procedures in the Cash and bank management module in Finance and Operations. You learn how to work with cash and bank management workspaces such as Bank management and Cash overviews. You also learned about the processes and procedures for cash and bank management, like how to make deposits and cancel payments (deposits). Finance and Operations provides functionality to manage check payments, as well as procedures for resolving special situations with checks. You can delete, refund, and void checks, in addition to generating and issuing checks according to company specifications. Because Finance and Operations records all financial transactions, companies can use the bank reconciliation function to match internal company records of transactions against bank statements.

Lessons for module 7

• Make deposits and perform payment reversals
• Use cash and bank management workspaces
• Practice Labs
• Module summary

In module 7, you learned how to:

• Work with cash and bank management processes.
• Use cash and bank management workspaces.
• Make deposits.
• Cancel payments.

Module 8: Configure Letters of Credit and Guarantees

You now have learned what are the bank letters and how to configure letters of credit in order to create bank documents that are commonly used for the purchase and sale of goods across international borders and letters of guarantees where a bank agrees to pay a specific amount of money to a person if one of the bank's customers defaults on a payment or obligation to that person.

Lessons for module 8

• Introduction
• Configure letters of credit
• Configure letters of guarantee
• Module summary

You will understand bank letters and letters of credit and guarantee.

Module 9: Perform Daily Procedures

Every manual posting entered in Finance and Operations is entered through a journal. A journal is a type of worksheet where entries do not post immediately. You can review, change, and verify completed journals until they are ready for posting. A voucher template is a voucher that can be used as the basis for future vouchers in other journal entries. You can use voucher templates with a general journal or any of the financial sub ledger journals such as Accounts payable and Accounts receivable journals. You can set up restrictions on the company, account type, and segment values.

Lessons for module 9

• Learn about general ledger processes
• Create voucher templates
• Setup journal controls
• Practice Lab
• Module summary

You have now learned how to process daily activities in general ledger and use journal control to apply rules during data entry.

You worked with balance control accounts to view the balances of either banks or liquidity accounts. You also learned that you can only use the balance control prior to posting to ensure that the entries are correct.

You learned how to benefit from voucher templates for Amount, which is simply copying the exact amount of the template as new lines, or Percent, which converts the amounts in the voucher into percentage factors. This allows any amount to be applied when the voucher template is selected.

Module 10: Intercompany Accounting

Intercompany accounting can help organizations by providing a single-entry point for transactions that must be recorded to multiple companies. Making transactions from a single company saves data entry time and helps provide a guarantee that transactions affecting multiple companies are recorded in each company. Finance and Operations also helps trace the intercompany entries through the system. It has the functionality that is required by most companies that process intercompany transactions. This includes the ability to efficiently record intercompany sales orders, purchase orders, and cash disbursements.

Lessons for module 10

• Setup and use intercompany accounting
• Practice Lab
• Module Summary

You will be able to set up and use intercompany accounting.

Module 11: Configure Ledger Allocations and Accruals

Finance and Operations provides the capabilities to support accrual schemes.

Lessons for module 11

• Introduction
• Configure and apply accrual schemes
• Configure ledger allocation rules
• Practice labs
• Module summary

You will have learned how to configure and use allocation rules, and how to configure and use accrual schemes.

Finance and Operations provides the following capabilities to support this process:

Manually allocate transaction amounts by using the split action in accounting distributions, or by applying financial dimension default templates to a document.

Automatically allocate transactions amounts based on allocation terms defined on individually on the main account. Allocation account entries will be generated for each journal based on the percentage and destination ledger account when an accounting entry meets the criteria defined as the source ledger account.

Automatically allocate ledger balances or fixed amounts based on ledger allocation rules. The ledger allocation rules are processed on a periodic basis using allocation journals.

Module 12: Configure Sales Tax

The requirements for tax calculation and tax reporting differ significantly for different countries or regions. Therefore, the Tax module of Dynamics 365 for Finance and Operations is extremely comprehensive.

Lessons for module 12

• Understand tax engine components
• Practice lab
• Module summary

You now have learned about country and regional tax reporting capabilities in Finance and Operations.

In this module, you learned how to configure tax components, such as sales tax authorities, settlement periods, and the sales tax codes. Additionally, you learned that sales tax codes is the main component to define tax calculations and connect all other components in the tax so that Finance and Operations can automatically calculate and post transactions for settlement based on the period interval assigned by an authority.

Module 13: Course Conclusion

Final assessment and course summary, as well as a post-course survey for the course.

Lessons for module 13

• Final assessment
• Course summary
• Post-course survey

You will have completed the course.

MB-310T02

Module 1: Configure Accounts Payable

Dynamics 365 for Finance and Operations offers extensive functionality for setting up different vendor payment options.

Lessons for module 1

• Understand Task recorder functionality
• Configure accounts payable parameters
• Create and maintain vendors
• Configure accounts payable charges
• Configure and use positive pay
• Practice Lab
• Module Summary

In module 1, you learned how to:

• Configure accounts payable components.
• Create and maintain a vendor.
• Configure vendor payments.
• Set up vendor posting profiles.
• Configure accounts payable charges.

Module 2: Perform Accounts Payable Daily Procedures

Purchasing goods for resale or as materials for manufacturing or services is a large responsibility. Tracking those purchases and paying the vendors that supply the goods is just as challenging. Organizations must monitor accounts payable closely and implement procedures so management can easily obtain the financial information that they need to have to stay informed about changes in the costs of goods. To give an accurate view of the financial condition of the business, all expenses that affect net profit are included in accounts payable. This module explains how to manage and apply prepayments, record invoices, and process payments.

Lessons for module 2

• Introduction
• Process orders, invoices, and payments
• Manage and apply prepayments
• Practice Labs
• Module summary

In this module, you learned that you can enter vendor invoices manually or receive them electronically through a data entity. After the invoices are entered or received, you can review and approve the invoices by using an Invoice approval journal or the Vendor invoice page.

Additionally, you learned how you can use invoice matching, vendor invoice policies, and workflow to automate the review process so that invoices that meet certain criteria are automatically approved and the remaining invoices are flagged for review by an authorized user.

You also learned how to handle prepayments to your vendors.

Module 3: Use Accounting Distribution and Invoice Validations

This module explains how to settle transactions and undo settlement and distribute funds by using accounting distributions. You will also learn how to perform invoice matching. Accounting distributions are used to define how an amount will be accounted for, such as how the expense, tax, or charges will be accounted for on a vendor invoice. Every amount that must be accounted for when the vendor invoice is journalized will have one or more accounting distributions.

Lessons for module 3

• Introduction
• Settle transaction and undo settlements
• Distribute funds
• Configure invoice validation policies
• Practice labs
• Module summary

In module 3, you learned how to:

• Settle transactions and undo settlements.
• Distribute funds by using accounting distributions.
• Configure invoice validation policies.

Module 4: Configure Accounts Receivable

You need to configure the Accounts receivable module to be able to create customer invoices, posting packing slips and use free text invoices that are not related to sales orders and finally receive payments by using several different payment types such as cash, checks, credit cards, and electronic payments from your customers. This module provides information about the configuration of essential components of the Accounts receivable module and the customer setup for efficient management of customers and customer transactions in Finance and Operations.

Lessons for module 4

• Configure accounts receivable
• Create and maintain customers
• Setup customer posting profiles
• Configure accounts receivable charges
• Practice Lab
• Module summary

In module 4 you learned how to:

• Configure Accounts receivable components
• Create and maintain a customer
• Configure customer payments.
• Set up customer posting profiles
• Configure accounts receivable charges

Module 5: Perform Accounts Receivable Daily Procedures

Learn how to create free text invoices, and receive payments from customers and deposit to the bank. You also learn how to refund a customer for the over payment amount or any other reasons like customer returns scenario which you need to refund the customer not only the payment but also the tax that has been collected, using reversals and use transaction reversals in Accounts receivable. You also learn how to distribute funds by using Accounting distributions in a free text invoice.

Lessons for module 5

• Create free text invoices and record customer payments
• Settle transactions and undo settlement
• Practice Lab
• Module summary

In module 5 you learned:

• Distribute funds by using Accounting distributions
• Create free text invoices, and record customer payments
• Configure Recurring invoices
• Use reversals in Accounts receivable
• Process orders, record invoices, and process payments

Module 6: Configure Credit and Collections

Although most customers pay their invoices on time, you need to be able to process invoices that are not paid by their due date. This topic explains how to manage delinquent customers by configuring the Credit and collections module in Dynamics 365 for Finance and Operations. To use the Credit and collections module, you should already have completed the configuration of accounts receivable.

Lessons for module 6

• Introduction
• Configure credit and collections components
• Setup and manage interest
• Waive, reinstate or reverse
• Setup and manage collection letters
• Practice Lab
• Module Summary

In module 6, you learned how to:

• 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.

Module 7: Process Credit and Collections

Although most customers pay their invoices on time, you must be able to process invoices that are not paid by their due date. This topic explains how to process Credit and collections.

Lessons for module 7

• Introduction
• Understand how to process collections
• Manage customer credit and collections
• Practice Labs
• Module Summary

In module 7 you learned about:

• Customer Statements
• How to process collection

Module 8: Course Conclusion

Final assessment and course summary, as well as a post-course survey for the course.

Lessons for module 8

• Final assessment
• Course summary
• Post-course survey

You will have completed the course.

MB-310T03

Module 1: Configure Post-Dated Checks

Postdated 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 for module 1

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

In module 1 you learned 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

Module 2: Configure and Use Basic Budgeting and Budget Control Processes

Every 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 for module 2

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

In module 2 you learned how to:

• Configure basic budgeting components
• Configure budget control components
• Use inquires and reports
• Create and use budget registry entries

Module 3: Configure and Use Budget Planning Processes

With 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 for module 3

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

In module 3 you learned how to:

• Configure Budget planning components
• Create a budget plan template
• Configure budgeting processes
• Create a budget plan by using the budget plan wizard

Module 4: Configure Fixed Assets Management

This 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 for module 4

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

In module 4 you learned how to:

• Configure fixed assets components
• Configure fixed asset parameters
• Enable fixed asset integration with purchasing
• Create fixed assets

Module 5: Manage Fixed Assets

To 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 for module 5

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

In module 5 you learned how to:

• Perform fixed asset acquisition
• Perform fixed asset depreciation
• Perform fixed asset disposal

Module 6: Configure and Use Cost Accounting

Cost 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 for module 6

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

In module 6 you learned about:

• Cost control workspace
• How to create a cost accounting report by using the Cost accounting Get started wizard

Module 7: Configure and Use Periodic Processes

In 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 for module 7

• 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

In module 7 you learned how to:

• 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

Module 8: Configure the Electronic Reporting Framework

Generic 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 for module 8

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

In module 8 you learned how to:

• Configure Electronic Reporting (ER)
• Create Electronic reporting (ER) configurations
• Perform periodic closing, and year closing processes
• Formula designer in Electronic reporting (ER)

Module 9: Configure Localized Features

Dynamics 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 for module 9

• 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

In module 9 you learned about:

• 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

Module 10: Configure Financial Management for Public Sector

The 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 for module 10

• Introduction
• Setup funds for the public sector
• Setup derived financial hierarchies
• Configure billing codes for free text invoices
• Practice Labs
• Module summary

In module 10 you learned:

• 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

Module 11: Course Conclusion

Final assessment and course summary, as well as a post-course survey for the course.

Lessons for module 11

• Final assessment
• Course summary
• Post-course survey

You will have completed the course.

Course Prerequisites

Basic understanding of ERP, CRM concepts.