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Microsoft Dynamics 365 for Financials (Part 2)

Microsoft Dynamics 365 for Financials (Part 2)

In part 1 of this series, we explored the basics of the software for businesses, sharing its ability to help growing businesses connect the cloud software with other applications, enhance decision-making capabilities with smarter data and business intelligence functionality, and get started with this easy-to-implement, easy to learn, and easy to expand product.

Today, however, we would like to take a deeper look at how Microsoft Dynamics 365 works, how each of the functions work together, and how to use Dynamics 365 to connect people and processes and grow with your business—as well as invite you to an upcoming July webinar in which we will be presenting the software in greater detail.

Dynamics 365 for Financials Deep Dive: Financial Management

As shared in the image below, Dynamics 365 offers a lot of product, and Dynamics 365 for Financials has a ton of features for your growing business.

Dynamics 365 for Financials Features

The most obvious focus of Dynamics 365 for Financials is the platform’s financial management capabilities. Designed to work together with the other applications/platforms listed, as well as other applications thanks to integrations made possible by Microsoft’s use of the common data service, the financial management supports the basics like general ledger, accounts receivable, and accounts payable, as well as offering a flexible budgeting functionality and the ability to create and track key performance indicators in an easy-to-use interface.

General Ledger

Create your own chart of accounts relevant for your company. Map general ledger accounts to categories personalized to the structure of your financial statements.

  • Reporting with the flexibility to meet both real-time and monthly financial needs
  • Set up your G/L, including invoice posting details and actions like additional reporting currency
  • Add categories and subcategories to general ledger accounts for easier reporting

For more information on the general ledger features in Dynamics 365, including G/L Account Categories, see the documentation page.

Accounts Receivable

A regular step in any financial rhythm is to reconcile bank accounts, which requires that you apply payments to customer or vendor ledger entries to close sales invoices and purchase credit memos.

The accounts receivable functionality in Dynamics 365 for Financials provides the ability to manage incoming payments to related customer or vendor ledger entries and close the related sales invoices or purchase credit memos as paid. When all payments are applied, you can reconcile the bank account.

  • Perform online reconciliation of bank transactions with bank feed integration
  • Choose direct bank feed imports or automated feeds using Yodlee
  • Update customer payments automatically based on data from bank information

For even more on how this helps you and how it works, see the documentation page.

Accounts Payable

Generate vendor payments prioritized by payment discounts and overdue penalties. Export payments directly to a bank file when posting.

  • Take advantage of credit terms without missing discounts or incurring penalties
  • Pay using purchasing cards, ACH transactions, or checks—including positive pay
  • Apply vendor payments automatically to unpaid purchase invoices by importing a bank statement file.


Improve your organization’s flexibility to develop, modify, and control budgets so you don’t get overextended.

  • Focus business performance through better revenue and expense accountability
  • Reach goals quicker with estimating tools that provide income and expense reporting by prospective jobs
  • Track budget versus actuals and stop over- spend before it’s an issue

Account Schedules

Use account schedules to define row and column structures, conduct analysis in-page or on screen, and export to Excel to analyze and compare general ledger entries to budget.

  • Easily create your own key performance indicators
  • Use account schedules to generate charts and graphs on your home page
  • Calculate profit margins on departments, product lines, or customer groups

Bank Reconciliation

Import a bank statement file or feed to quickly register payments. Automatically apply credits to open ledger entries.

  • Get real-time bank information from your bank and credit card feeds
  • Access accounts from thousands of financial institutions around the world using simplified Yodlee bank feeds
  • Quickly identify differences with more frequent reconciliation

Learn even more about Dynamics 365 for Financials here, and stay tuned for our exploration of their inventory management, purchasing, sales, and project management capabilities as they pertain to Dynamics 365 for Financials here.

Learn More: Transform Your Business with Dynamics 365 (This July)

This July, we will be presenting a webcast on embracing the digital transformation and improving your business with Dynamics 365. Discover how to grow, evolve, and transform every part of your business to better meet the changing market and needs of your customers. Experts will share how Dynamics 365 allows you to:

Build personalized experiences across all customer touchpoints

Give your employees familiar tools and actionable insights

Anticipate and manage business needs with more intelligent processes

Innovate new business models, automate processes, and shift to being proactive

Start integrating, automating, and transforming your business processes today! We will be announcing the official date and link of this webcast at a later date, but we welcome you to sign up for our email list for all the latest on business transformation.


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