I. Overview:

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.

II. Duration: 32 hours (4 days)

III. Intended Audience:

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.

IV. Prerequisites:

• A basic understanding of finance and accounting processes.
• The ability to use Dynamics 365 Finance for basic processing and navigation.
• A general understanding of sales order invoicing.
• Familiarity with configuring credit and collections in Dynamics 365 Finance.

V. Course outlines:

1. Configure financial management

• Get started with Dynamics 365 Finance: Discover how Dynamics 365 Finance empowers business users to stay in control of finances and manage funds with accurate information for financial planning and forecasting.
• Configure currencies in Dynamics 365 Finance: In today's global market, businesses receive and send payments using different currencies. Exchange rates must be managed properly to lower the monetary 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.
• Create fiscal calendars, years, and periods in Dynamics 365 Finance: 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.
• Get started with chart of accounts in Dynamics 365 Finance: Before you set up a chart of accounts, you should plan what the chart of accounts is going to look like. The definition of a chart of accounts can be different across industries and can be different for customers. This module explores the process of planning and setting up a chart of accounts that's tailored to meet the specific needs of a customer's finance department.
• Set up chart of accounts in Dynamics 365 Finance: Dynamics 365 Finance helps you effectively structure and manage financial accounts in your organization's general ledger system. Using the main account, allocation, and automatic transaction features can help you streamline your business processes.
• Set up financial dimensions in Dynamics 365 Finance: Financial dimensions play an important role in Dynamics 365 Finance. They serve as key identifiers that provide granularity and flexibility in tracking and analyzing financial data within your organization.
• Set up ledgers and journals in Dynamics 365 Finance: In any Dynamics 365 Finance implementation project, the first step is to set up 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.
• Perform general ledger daily procedures in Dynamics 365 Finance: Dynamics 365 Finance helps make the general journal process 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.
• Intercompany accounting in Dynamics 365 Finance: 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.
• Configure ledger allocations and accruals in Dynamics 365 Finance: 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. 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.
• Configure and perform periodic processes in Dynamics 365 Finance: You can complete closing procedures for a period or a year. Closing processes prepare the system for a new period. In this module, you learn how to prepare, configure, and perform periodic processes in Dynamics 365 Finance.
• 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.
• 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).
• Customer and vendor netting in Dynamics 365 Finance: This module provides an overview of the customer and vendor balance netting process in Dynamics 365 Finance. It also explains how to set up the netting agreement, manually net customer and vendor balances, and reverse posted netting transactions.
• 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.
• 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.

2. Manage accounts receivable

• Set up accounts receivable in Dynamics 365 Finance: Learn to set up the Accounts receivable module in Dynamics 365 Finance to create customer invoices, post packing slips, and use free text invoices that aren't related to sales orders. This module also explains how to receive customer payments by using several different payment types, such as cash, checks, credit cards, and electronic payments.
• Get started with accounts receivable daily procedures in Dynamics 365 Finance: Learn how to create free text invoices, record customer payments, distribute funds, configure recurring invoices, and reimburse a customer.
• Set up credit and collections in Dynamics 365 Finance: Although most customers pay their invoices on time, you must be able to process invoices that aren't paid by their due date. Accounts receivable collections information is managed in one central view by using the Collections page in Dynamics 365 Finance. Credit and collections managers can use this central view to manage collections.
• Process credit and collections in Dynamics 365 Finance: Although most customers pay their invoices on time, you need to be able to process invoices that aren't paid by their due date. This module shows you how Dynamics 365 Finance helps companies to process collections for delinquent customers
• Implement cost management in Dynamics 365 Finance: This module equips finance professionals with the essential skills to configure, manage, and optimize cost accounting processes within an enterprise finance system, enhancing accuracy and strategic decision-making.

3. Manage accounts payable

• 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.
• Work with accounts payable daily procedures in Dynamics 365 Finance: By working with accounts payable daily procedures in Dynamics 365 Finance, your organization can streamline the payment process for vendor invoices by using payment journals and proposals. These tools help with efficient payment creation, approval, and posting by allowing users to select invoices based on specific criteria, such as due dates and cash discount opportunities.
• 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.
• 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.
• 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.
• 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.

4. Perform budgeting and forecasting

• 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.
• 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.
• Configure and use budget planning in Dynamics 365 Finance: With the collaborative and process-driven nature of the budget planning functionality in Dynamics 365 Finance, you can make your budget process more efficient and include more people in the process, while reducing the number of files being sent by email and reducing manual entry. Budget planning improves an existing Microsoft Excel-based budgeting solution.

5. Administer fixed assets and inventory

• Configure fixed assets management in Dynamics 365 Finance: Learn how to configure and create fixed assets to comply with international accounting standards.
• 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.
• 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.
• 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.