- Module 1: Dynamics 365 Finance empowers business users to adapt to rapidly changing business environments. It provides businesses everything they need to control finances and manage funds with accurate information for financial planning and forecasting, and helps them stay up to date with analytics tools. Because finance is the core of any business, it's important to be acquainted with the capabilities of Dynamics 365 Finance.
- The benefits of Dynamics 365 Finance.
- An overview of features in Finance.
- Module 2: In today's global market, businesses receive and send payments using different currencies. Exchange rates must be managed properly to lower the monetarily loss when accepting multiple currencies. Understanding how to forecast the amount of loss or gain caused by changes in exchange rate values can help you make smart business decisions to handle cash discounts and payments.
- 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.
- Module 3: When you record financial data in Dynamics 365 Finance, you must include the date of the transaction. By using a fiscal calendar and breaking it down into segments of years and periods, you can post or record financial data to a predefined open period.
- Differentiate between ledger and fiscal calendars.
- Configure and set up fiscal calendars, years, and periods.
- Create and use date intervals.
- Module 4: In any Dynamics 365 Finance implementation project, the first step is to configure the General ledger module. All other modules post their related financial transactions into the general ledger. As part of implementing the general ledger, configuring the chart of accounts is the first required step to identify accounts, dimensions, and structures.
- 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
- Configure account structures and advanced rules
- Module 5: In any Dynamics 365 Finance implementation project, the first step is to configure the General ledger module. All other modules post their related financial transactions into the general ledger. The ledger also provides the means for sharing the chart of accounts, currencies, and fiscal calendar by multiple legal entities.
- Different types of journals and their setup.
- How to configure ledger and posting setup.
- How to configure and use journals.
- Module 6: Dynamics 365 Finance helps make general journal processing easier and ensures that correct data is captured, and internal control isn't compromised. Let's get familiar with the general ledger processes, and then perform daily procedures in General ledger.
- General ledger processes.
- Balance control accounts.
- Journal controls.
- Voucher templates.
- Ledger settlements.
- Module 7: You can use intercompany accounting when accounting processes are centralized for subsidiaries or branch offices. With intercompany accounting, you can create a single entry that posts to multiple companies. Dynamics 365 Finance provides features that help you set up the system, process transactions, and trace intercompany transactions.
- Set up intercompany accounting
- Use intercompany accounting to post journals between two different legal entities
- Module 8: Accruals are used in accrual accounting to track revenue that is recognized in the period that it's earned in, not when payment is received, and to track expenses (costs) that are recognized when they occur, not when payment is made. Allocations are used to distribute amounts across multiple ledger account combinations. They help to ensure that expenses or revenue is charged to the correct object in accounting. By using allocations and accrual features in Dynamics 365 Finance, financial leaders can create rules, configure source and destination, and schedule the task only once, the rest is taken care of by Finance.
- Configure and use accruals.
- Configure and use allocations.
- Module 9: You can complete closing procedures for a period or a year. Closing processes prepare the system for a new period. In this module, you will learn how to prepare, configure, and perform periodic processes in Dynamics 365 Finance.
- 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.
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