Day: November 28, 2023

This post is part of the New Functionality In Microsoft Dynamics 365 Business Central 2023 Wave 2 series in which I am taking a look at the new functionality introduced in Microsoft Dynamics 365 Business Central 2023 Wave 2.

The twenty-ninth of the new functionality in the Application section is Use general ledger account revaluation for more accurate financial statements.

With a new setup on the G/L account card, you can now run G/L Revaluations for accounts with transactions in foreign currencies. This enables you to generate a more accurate financial statement with little need to keep separate spreadsheets.

Enabled for: Users, automatically
Public Preview: Mar 2024
General Availability: To be announced

Feature Details

If you use general ledger accounts to register balance sheet items that are denominated in foreign currencies, a revaluation of the balances is often required before you produce financial statements for your business.

Until now, most businesses have used either a bank account or a vendor account to register and track such assets and transactions. They’ve had to keep the bank or vendor account separate from others, and to make it work they’ve had to maintain an expanded setup for posting groups.

The G/L Revaluation feature simplifies revaluations. For the general ledger accounts that you use for revaluations, you can turn on a general ledger account subledger that will hold the original currency value of the transaction and any adjustments you made using the Adjust Currency Exchange Rate batch job. Balances present in local currency (LCY) are revalued, which enables you to produce a more accurate financial statement with little effort.

Posting gains and losses during a currency exchange rate adjustment follows the normal posting routine. For example, it’s done for each setup on the currency card.

My Opinion

I’ve not done too much with multicurrency in Business Central yet, but this sounds like it could be very useful.

This post is part of the New Functionality In Microsoft Dynamics 365 Business Central 2023 Wave 2 series in which I am taking a look at the new functionality introduced in Microsoft Dynamics 365 Business Central 2023 Wave 2.

The twenty-eighth of the new functionality in the Application section is Reverse a customer and vendor ledger entry with a realized gain or loss entry.

From time to time you may need to recover from mistakes, so Microsoft have improved the features for reversing transactions to save you time both when you enter data and when you validate manual postings.

Enabled for: Users, automatically
Public Preview: –
General Availability: Oct 2023

Feature Details

You can use the Reverse transaction action to reverse payments that were applied to entries that originated in foreign currencies and were adjusted using the Exchange Rate Adjustment batch job. The feature works for both purchases and sales.

The following is a simple scenario that illustrates how it works:

1. Post a sales invoice for a customer using a foreign currency.
2. Adjust the exchange rate for that currency.
3. Post a payment applied to the invoice.
4. Unapply and reverse the payment transaction, for example, from the Customer Ledger Entries page.

With this one-step (actually two because you must always unapply entries before you can reverse them), you can easily undo mistakes that also involve currency adjustments.

My Opinion

This looks like it will be useful for correctly reversing multicurrency entries for sales and purchasing. This is always a tricky area so it is nice to see it being enhanced.

This post is part of the New Functionality In Microsoft Dynamics 365 Business Central 2023 Wave 2 series in which I am taking a look at the new functionality introduced in Microsoft Dynamics 365 Business Central 2023 Wave 2.

The of the new functionality in the Adapt faster with Power Platform section is Use virtual tables to expose more Business Central data in Dataverse.

Use virtual tables when you synchronize data between Business Central, Dataverse, and other Dynamics 365 apps to enhance the value of your Dynamics 365 investment. Virtual tables erase boundaries between Dynamics 365 apps and make your data accessible to users in their preferred app.

Enabled for: Users by admins, makers, or analysts
Public Preview: Mar 2024
General Availability: To be announced

Feature Details

When you synchronize data between Business Central and Dataverse, if you enable virtual tables in Business Central you can add a synthetic relationship between a synchronized entity and a virtual table. Virtual tables let you enrich the data you’ve set up to synchronize from Business Central with data you haven’t, without help from a developer.