New Functionality In Microsoft Dynamics 365 Business Central 2024 Wave 1: Specify Dimensions on Posted Entries Applications With Realized Gains or Losses

This post is part of the New Functionality In Microsoft Dynamics 365 Business Central 2024 Wave 1 series in which I am taking a look at the new functionality introduced in Microsoft Dynamics 365 Business Central 2024 Wave 1.

The 27th of the new functionality in the Application section is specify dimensions on posted entries applications with realized gains or losses.

When companies operate in multiple countries or regions, it’s important that they can do business and prepare financial reports using the dimensions they have set up for reporting.

Enabled for: Users, automatically
Public Preview: –
General Availability:  Apr 1, 2024

Feature Details

In the previous release, 2023 wave 2, the currency exchange rate adjustment batch job was improved to allow you to control the posting of dimensions assigned to the adjustment entries.

In 2024 release wave 1, the same concept applies when you submit payments to invoices in foreign currencies. The dimensions assigned to entries that are posted to realized gains and losses accounts are controlled by a setting on the Application FastTab on the General Ledger Setup page. The setting, Dimension Posting, offers three options:

• Source Entry Dimensions: G/L entries for realized gains and losses have dimensions values that were transferred from the application entry.

   Note

  The application entry is usually the payment entry—for example, when you apply and post payments in journals—but can also be an invoice or credit memo if you select them as the applying entry from the customer/vendor ledger entries.

• No Dimensions: G/L entries for realized gains and losses won’t have dimensions values.
• G/L Account Dimensions: G/L entries for realized gains and losses have dimensions values that were transferred from the realized gains and losses G/L account’s dimension settings source entry.

My Opinion

This sounds like it will be a useful enhancement, making sure that the dimensions on the revaluation are correct at posting.