This post is part of the New Functionality In Microsoft Dynamics 365 Business Central 2024 Wave 2 series in which I am taking a look at the new functionality introduced in Microsoft Dynamics 365 Business Central 2024 Wave 2.
The 1st of the new functionality in the Application section is use new reports and demo data for financial reporting.
New reports are provided as demo data for Business Central. The reports can serve as ready to use reports, or as template you can use to create your own financial reports. In addition, you can generate more demo data to get a better idea of what data the reports display.
Enabled for: Users, automatically
Public Preview: –
General Availability: Oct 2024
Feature Details
The list of standard reports for financial reporting is expanded to include five new reports. In addition, a set of five new row definitions and 12 column definitions are provided. You can combine them to create more than 25 new reports.
The following table lists the new reports:
| Name | Description |
|---|---|
| TB | Trial Balance |
| BS DET | Balance Sheet Detailed |
| BS SUM | Balance sheet Summary |
| IS DET | Income Statement Detailed |
| IS SUM | Income Statement Summary |
The new row definitions have the same names and descriptions as the reports.
The following table lists the new column definitions:
| Name | Description |
|---|---|
| BBDRCREB | TB Beginning Balance Debits Credits Ending Balance |
| BSTREND | BS 12 Months Balance Trending Current Fiscal Year |
| CB | BS Current Month Balance |
| CB V PB | BS Current Month Balance v Prior Month Balance |
| CB V SPYB | BS Current Month Balance v Same Month Prior Year Balance |
| CNC | IS Current Month Net Change |
| CNC BUD | IS 12 Months Net Change Budget Only |
| CNC V PNC | IS Current Month Net Change v Prior Month Net Change |
| CNC VSPYNC | IS Current Month Net Change v Same Month Prior Year Net Change |
| CNCVPNCYOY | IS Current Month v Prior Month for CY and Current Month v Prior Month for PY |
| CVC YTDBUD | IS Current Month v Budget Year to Date v Budget and Bud Total and Bud Remaining |
| ISTREND | IS 12 Months Net Change Trending Current Fiscal Year |
NOTE
The five reports are ready to use for the US version. For other country version, you must map the row definitions to your chart of accounts in order for the reports to display any data. Microsoft will work on providing the ready-to-use experience for more country version in future releases.
Financial reporting demo data
Financial reporting is at the core of every business, and when evaluating business management applications it’s often desirable to view the reporting capabilities as they would look like for a running company. The new demo data can be generated by running the Contoso Financial demo data from the Contoso Demo Data tool page. The data will contain three years of G/L entries, broken down to dimensions with a Budget for the current year for variance analysis reporting.
My Opinion
This sounds like it could be a good enhancement with additional reports available for demo purposes, although it will require work for anyone outside of the US to configure the row definitions with the chart of accounts.