Tag: Microsoft Dynamics 365 Business Central 2024 Wave 1

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 12th of the new functionality in the Application section is create projects that you can invoice to multiple customers.

When projects involve multiple customers, billing the right customers for the right project tasks can be challenging and take time. Business Central makes billing less complex by letting you specify the bill-to and sell-to customers on each project task line. Having that information on each task lets you automatically generate invoices for the correct customers.

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

Feature Details

You can define the Bill-to Customer No. and the Sell-to Customer No. for each project task line. To enable you to enter that information, Microsoft have made the following fields available on the Project Task table, Project Task Lines subform page, and the Project Task Card page:

• Bill-to Customer No.
• Bill-to Name, Bill-to Name 2
• Bill-to Address, Bill-to Address 2
• Bill-to City, Bill-to Post Code
• Bill-to County, Bill-to Country/Region Code
• Bill-to Contact No., Bill-to Contact
• Sell-to Customer No.
• Sell-to Customer Name, Sell-to Customer Name 2
• Sell-to Address, Sell-to Address 2
• Sell-to City, Sell-to Post Code
• Sell-to County, Sell-to Country/Region Code
• Sell-to Contact No., Sell-to Contact
• Ship-to Code
• Ship-to Name, Ship-to Name 2
• Ship-to Address, Ship-to Address 2
• Ship-to City, Ship-to Post Code
• Ship-to County, Ship-to Country/Region Code
• Ship-to Contact
• Language Code, Format Region
• External Document No., Your Reference
• Payment Method Code, Payment Terms Code
• Price Calculation Method

Continue reading “New Functionality In Microsoft Dynamics 365 Business Central 2024 Wave 1: Create Projects That You Can Invoice to Multiple Customers”

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 10th 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: Apr 2024

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

Revaluation is another of the areas with which Business Central has surprised me, due to the lack of or poor functionality in certain areas. This enhancement sounds like it should plug one of those holes.

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 9th of the new functionality in the Application section is simpler Shopify connection.

Business Central has teamed up with Shopify to help their customers create a better online shopping experience. Shopify provides merchants with an easy-to-use e-commerce solution, and Business Central offers comprehensive business management across finance, sales, service, and operations. The seamless connection between the two applications synchronizes order, stock, and customer information to ensure that merchants can fulfill orders faster and better serve their customers. The joint effort furthers Business Central’s commitment to connecting data that can help businesses adapt faster, work smarter, and perform effectively.

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

Feature Details

Based on feedback from customers, Microsoft have made a number of improvements in the user interface.

It’s easier to get the Shopify URL

The Connector requires a URL in the following format: https://.myshopify.com/. However, after Shopify introduced Unified Admin it hasn’t been as easy to get the URL for the store. Therefore, Microsoft have reintroduced simplicity. Just copy the URL from Shopify Admin, such as https://admin.shopify.com/store/, and the Connector converts it to the required format.

Continue reading “New Functionality In Microsoft Dynamics 365 Business Central 2024 Wave 1: Simpler Shopify Connection”

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 8th of the new functionality in the Application section is set up financial consolidation runs more efficiently.

When you run consolidation for business units that use a foreign currency, you must pay special attention to the exchange rates that various parts of the process use, and even more so when you redo consolidation. To do that, you can use the Set Up Business Unit Currencies page to easily keep track of the rates. The feature helps streamline your consolidation processes and improve your productivity.

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

Feature Details

When you run a consolidation, the Set Up Business Unit Currencies page gives you the last rates that were entered for average, closing, and last closing rate. Also, you can look up the exchange rates in the currency exchange rate table, which makes it easier to validate. You can modify the rates used for the current run by either entering the values or copying values from previous runs by selecting Select from previous consolidation. This page is particularly valuable when you want to rerun a previous consolidation, where you need to use the closing rate of the consolidation run previous to the earliest of such runs. This is required to correctly revaluate your balance sheet items. You can use the Select from previous consolidation register to find the relevant last run to copy values from, or just look up the rates that were used when you’re troubleshooting. The page is filtered to runs that included the selected business unit.

The Run Consolidation batch job with the new parameters is available on the Business Units list page. You can also find the Set Up Business Unit Currencies page by selecting the Exchange Rates action.

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 7th of the new functionality in the Application section is connect Business Central with Shopify B2B.

Connecting Shopify B2B and Business Central improves visibility into pricing, customers and their order histories, order status, billing, and payments. Better visibility means faster response to customer inquiries, timely returns and refunds, and more accurate order processing.

Enabled for: Admins, makers, marketers, or analysts, automatically
Public Preview: Mar 2024
General Availability: Apr 2024

Feature Details

The Shopify Connector now supports the latest features of Shopify’s B2B platform, such as companies, prices, payment options and more. These features allow you to manage multiple buyers and groups, offer different pricing and discounts, and streamline your B2B operations. You can easily synchronize your Shopify B2B data with Business Central and automate your workflows. This helps save time, reduce errors, and increase customer satisfaction.

Adapt faster

Connecting Business Central with Shopify helps merchants around the world to implement more agile online business processes, while keeping their people focused on selling. With connected data across your online stores and business operations, you can rapidly respond to consumer demands to adjust product pricing and merchandising. With support for multitier pricing structures and multiple currencies, companies, and entities, Business Central easily supports multiple Shopify store scenarios.

Continue reading “New Functionality In Microsoft Dynamics 365 Business Central 2024 Wave 1: Connect Business Central With Shopify B2B”

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 5th of the new functionality in the Application section is define default location for project or project phase.

Reduce the time you spend on data entry and focus more on core tasks by specifying a default location and bin for projects on the Project Card page. When you create project tasks, project planning lines, and project journal lines for the project, the default location and bin are automatically assigned. Stay flexible with the ability to change the location code and bin on tasks and lines if needed.

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

Feature Details

Specify a default Location Code and Bin Code on the Project and Project Task Lines Subform pages. Similar to production order processes, these default values simplify data entry on project tasks, project planning lines, and project journal lines.

Continue reading “New Functionality In Microsoft Dynamics 365 Business Central 2024 Wave 1: Define Default Location for Project or Project Phase”

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 4th of the new functionality in the Application section is define a service invoice posting policy for various users.

Companies often have unique processes for invoices and shipments. For example, processes can vary from one person posting everything on a service order to multiple employees, each working with their own pages. A setting on the User Setup page lets you specify how each user can process service invoices.

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

Feature Details

You can use posting policies to restrict users from posting service invoices, or require them to post invoices together with the related service shipment. To specify a posting policy, on the User Setup page, choose one of the following options in the Service Invoice Posting Policy field:

• Allowed (Default): Keep the current behavior, where you can choose the posting option, such as Ship, Invoice, and Ship and Invoice.
• Prohibited: Prevent people from posting invoices. Business Central shows a confirmation dialog that provides only the Ship option.
• Mandatory: Let people post invoices along with service shipments. Business Central shows a confirmation dialog with the Ship and Invoice option.

Continue reading “New Functionality In Microsoft Dynamics 365 Business Central 2024 Wave 1: Define a Service Invoice Posting Policy for Various Users”

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 3rd of the new functionality in the Application section is Use deferral codes in purchase and sales journals.

Entering sales and purchase journals is sometimes associated with data entry for transactions that require deferrals. The process of entering data is smoother because you can specify a deferral code on sales and purchase journals, without having to create a general journal.

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

Feature Details

You can set a deferral code on sales and purchase journal lines, which allows you to post deferral transactions while you work in these journals. Deferral works the same way on sales and purchase journals as it does for general journals. To learn more about deferrals, go to Defer Revenue and Expenses.

Note that sales and purchase journals validate the source code. The validation requires that the source code for sales and sales journals, and purchase and purchase journals respectively, aren’t identical when you’re using deferrals. If it’s set up to be identical, you can work around this limitation by creating a template and batch that uses another source code.

My Opinion

I’ve not had a need to delve too much into deferrals yet, but it is surprising that you couldn’t already use deferral codes on sales and purchase journals. It’s good to know that the functionality is coming.