A few months ago we discover the new functionality included in Microsoft Dynamics 365 Finance, Financial Tags, and as I was expecting this great tool, after been included in journals, is growing, nice!!

In the new version of Dynamics 365 Finance 10.0.37 available this November 2023 there is an interesting new feature, in preview, called "Generate customer and vendor payments from bank statement and reconciliation". it sounds very helpful to generate, directly from the bank reconciliation form the customer or vendor transactions included in the bank statement of the bank that have not been posted in the system yet.

One of the powerful tools in Microsoft Dynamics 365 Finance is the use of multiple currencies with the specific exchange rates for the posting of vendor invoices, bank transfers, payments... as a summary, all the required movements that need to be posted in a company.

A few months ago we discover the new functionality included in Microsoft Dynamics 365 Finance, Financial Tags, and as I was expecting this great tool is growing, nice!!

Once you start to define and configure your ERP Microsoft Dynamics 365 Finance, related to customer billing, there are several different options you can use to get a similar result. You can use free text invoices as a simple billing option, sales orders if you manage inventory or even project invoices if you want to control the WIP and revenues.

Work with the customer debt and manage all the collections has never been an easy task:  a customer agent usually controls multiple customers and every day execute several calls, emails, notes... related of each one of the invoices and contacted customers. For this reason in Microsoft Dynamics 365 Finance one of the most powerful workspaces is Customer credit and collections that includes all the information related to the customers that the agent control (customer pool) in one single place that the clerk can use for the daily work with the ability to do multiple tasks, as example:

The use of product variants in Microsoft Dynamics 365 Finance is a must for some business' where the same product can have multiple sizes, colors, configurations... because you need to create a Product Master and assign a Product dimension group with all the options available for the product without creating the same product multiple times.

Subscription billing is a relatively new feature in Microsoft Dynamics 365 Finance and is a separate module, which also covers the old Revenue recognition module.  This module is really powerful for all types of subscriptions scenarios as we explained in this overview and example, but as we were expecting and really looking for, since the version 10.0.32 the new Subscription billing module is linked to the Project management and accounting. Finally the circle is closed, fantastic!!! 😍😍

I love to check the every month the What's new in Dynamics 365 Finance to review the new features, modules and changes that Microsoft applies to the ERP, an one of the most expecting ones this year has been the Financial tags. I read several posts and articles about it, all super interesting and really promising, because it can be used in the financial reporting as a complement for the financial dimensions (my passion...) but you can edit the values after transactions are posted what it's not possible with the dimensions. If you want to learn more, you can check all the difference between the tags and dimensions in this link.