Dynamics 365 Finance and SCM November 2020 wave 2 updates

November 22nd, 2020 by Stephen Jones Leave a reply »

Microsoft has announced some major productivity improvements in the Accounts Payable space for Dynamics 365 Finance. Below are the top 3 features from this list:

Match product receipts to invoice lines with 3-way match policy:
We may often receive an Invoice before receiving the goods but AP processors expect these invoices to be matched to the receipts automatically . With this new feature, AP users can have the invoices created and these invoices can be matched automatically to a receipt, for a 3-way match line. More details about this feature here: https://docs.microsoft.com/en-us/dynamics365-release-plan/2020wave2/finance-operations/dynamics365-finance/vendor-invoice-automation-match-product-receipts-invoice-lines-that-have-three-way-matching-policy

Pre-validate vendor invoice posting:
Microsoft is extending this to Vendors Invoice that are related to Purchase orders.
This will allow AP Processors to validate before the posting and resolve any issues that are present. I
This provide a hook for developers to use this feature for pre-validations for integration or vendor invoice automations that may be developed.
More details about this feature here: https://docs.microsoft.com/en-us/dynamics365-release-plan/2020wave2/finance-operations/dynamics365-finance/vendor-invoice-automation-pre-validate-vendor-invoice-posting

Tracking the invoice received date
:
Vendor aging helps to determine how prompt you are in paying vendors/suppliers, which is a crucial measure for a trust relationship. However, business also need to track the progress of an invoice and , invoice received date as field is now included as start point for tracking. For invoices that are automated or imported, this can be included in the schema. For manually entered invoices, this can be specified while keying in the invoice. Businesses can use Power BI to track the trends the progress of the invoices from the point of arriving to the point of payment.
More details about this feature here: https://docs.microsoft.com/en-us/dynamics365-release-plan/2020wave2/finance-operations/dynamics365-finance/vendor-invoice-automation-tracking-invoice-received-date

New Feature: Asset leasing

• Customers can more easily comply with accounting standards for ASC 842/IFRS 16
• Automats complex lease calculation of a lease’s present value
• Automatically classify the lease as either operating or finance, or as a short-term lease or low-value lease
• Centralizes the management of lease information

New Feature: Automatic collection task creation
• Automatically create collection tasks that are based on rules
• Define rules that are based on invoice attributes including payment prediction, due dates, and amounts due

New Feature: Touchless email reminders to customer
• Automatically notify your customers via email with a reminder that an invoice is past due
• Contains overdue invoice information based on email templates

New Feature Generate the trial balance with transactional detail report
This feature lets you generate a trial balance with transactional detail. The transactional detail provides information such as the transaction date, voucher number, and transaction description. This report was available in AX 2012 and now it is available in D365The report includes opening balances, debit or credit amount, a running balance, and the resulting ending balances for a given date range. The report can also be run to include pending ledger transactions, providing a provisional report for analysis of how unposted transactions will impact account balances.
This is available form Version 10.0.13 (Update 37) – Enable the feature through feature management

Dynamics 365 Supply Chain Management obtains a unified view of inventory, warehouse, manufacturing, service, and logistics with predictive analytics.

New Feature: Vendor RFQ search by procurement category
• Easier for vendors to find relevant RFQs to bid on
• Vendors find open requests for quotations (RFQs) based on their procurement category

Dynamics 365 Guides for Manufacturing
Deliver mixed-reality, holographic step-by-step instructions for production processes using Dynamics 365 Guides.
Setup the guides parameters and then define the guides, then the worker can use their HoloLens to scan the QR code and the guide will get launched.

To configure how Guides appear on the shop floor, go to Mixed Reality > Dynamics 365 Guides > Configure Guides integration.
Attach guides to various aspects of production control like Resources ,Resource groups, Released products, Formulas, Routes, Route versions. etc.
When a worker opens a job list on the shop floor execution interface, Supply Chain Management finds the relevant guides for the jobs shown. Use the Guides button to view the relevant guides.
Put on a HoloLens and access the respective guide by glancing at the QR code and activating the respective Guide.

New Feature: Extend analytics capabilities with new time-tracking entities.
• Provide easy access to product usage analytics that enable Dynamics 365 Guides to be part of the larger enterprise ecosystem
• Leverage product usage information for use cases that extend beyond the current Power BI template

Dynamics 365 Project Operations unifies operational workflows to provide the visibility, collaboration, and insights needed to drive success across
teams.

New Feature: Create project invoice proposals by funding source from the periodic area
• Create project invoice proposals by selecting the customer account associated with funding sources
• Creates multiple project invoice proposals regardless of the number of project contracts where the customer is a funding source

Project type will be moved to the contract line.
Project group will become optional
The setup related to tracking of work in process and revenue calculation will be moved to a new entity – Project revenue profiles.
The project revenue profile rules will determine which project revenue profile to use.
Internal projects will be projects without a contract and only costs will be tracked.

Test this in SBOX environment – these should be enabled only when using synchronous integration with the Common Data Service.

New Feature: New Invoice summary page available from Project invoice proposals and Project invoices list pages
• Add additional information on the Project invoice proposals/list pages determines what documents to process for a single customer
• Add an Invoice summary to the Project invoice proposals and Project invoices list pages

New Feature: Public sector – Project invoice proposal selection parameter by funding source
• Create any number of project invoice proposals, regardless of the number of project contracts the customer is a funding source for
• Creates project invoice proposals by selecting the customer account associated with funding sources

(Preview) Vendor invoice automation :
The automation processes can be used to perform these tasks:
· Automatically submit imported invoices to the workflow system.
· Match product receipts to pending vendor invoice lines.
· Simulate posting before a vendor invoice is posted.
· Quickly and efficiently view workflow history.
· View and analyze the results of automating vendor invoice processing.

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