Microsoft Dynamics 365 Fixed Assets-Create a Fixed Asset Group
Create a Fixed Asset Group: To create a Fixed Asset Group, go to Fixed Assets > Setup >Fixed Asset Groups Once Fixed Assets groups form is opened, create a new group, define type, Number sequence & property type then save & close the form.
Microsoft Dynamics 365 General Ledger-Fiscal Year Closing
Fiscal Year Closing: Before closing a Fiscal year there are three certain configurations you need to pay attention to: 1. Delete close-of-year transactions during transfer; you want this selected to Yes as it will delete the opening transactions if you decided to rerun the fiscal…
Microsoft Dynamics 365 General Ledger-Record an Accounting Entry
Record an Accounting Entry: Accounting/Journal entries are used to settle transactions for different main accounts. To record an accounting entry, Go to>General Ledger>Journal Entries>General Journal Open the General Journal and create a new one. Select the newly created journal and open Lines as shown below….
Microsoft Dynamics 365 General Ledger-Working with Allocation Journal
Working with Allocation Journal: Allocation journal is mainly used to allocate cost or expenditures to different departments in a company. To use the allocation Journal there are 3 steps: – Create an Allocation Rule – Process Allocation request – Post Allocation Journal To create allocation…
Microsoft Dynamics 365 General Ledger-Working with Periodic Journal
Periodic journals help to settle periodic activity journal entries saved within a journal i.e. Payroll In order to create a periodic journal, Go to> General ledger>Journal Entries>General Journal>Create New Open General Journal and create a new journal from dropdown. After choosing a Journal click…
Microsoft Dynamics 365 General Ledger-Create a Journal
Create a Journal: Journals are used to record voucher transactions to be posted to the general ledger. Navigate to General ledger> Journal Setup> Journal names. Click new to create a new journal. Enter the highlighted information: – Journal name – Description – Journal type –…
Microsoft Dynamics 365 General Ledger-Create a financial Dimension
Create a Financial Dimension: Financial dimensions are used to provide detailed information about the transactions in the general ledger. To create a Financial dimension, go to General ledger>Chart of Accounts>Dimensions>Financial Dimensions. Open the Financial Dimensions, click new to create a new one. User may create…
Microsoft Dynamics 365 General Ledger-Open a Fiscal Year
Open a Fiscal Year: A Fiscal year can be opened within a Fiscal period. To open a fiscal year, User will go to General ledger>Ledger Setup>Fiscal Calendars. After clicking Fiscal Calendar, a new form will be opened as shown below. User will choose a Fiscal…
Microsoft Dynamics 365 General Ledger-Create Main Account
Create a Main Account To create a Main Account, go to General Ledger > Chart of Accounts >Accounts > Main Accounts. Click New in action pane, a new main account opening form will be opened. Assign a Serial Number/Account Code in Main Account Field….
Microsoft Dynamics 365 Cash & Bank Management – Bank Account Reconciliation
Bank Account Reconciliation: When you receive a bank statement, you should periodically reconcile legal entity bank transactions with the transactions on the bank statement. You cannot reconcile a bank statement with a bank account if any of the checks or deposit slip payments that are…