Archive for the ‘Finance’ category

Microsoft Dynamics 365 for Finance and Supply Chain – ask Synergy Software Systems

November 5th, 2023

Microsoft Dynamics 365 for Finance and Supply Chain (FSCM) is Microsoft’s flagship and most capable ERP solution. With advanced functionality, superior architecture and single source application, D365 FO is the natural choice for larger enterprises who often demand multi-site, multi-country, multi-lingual capabilities.

We have had a rich history of success with large international organisations implementing its predecessor Microsoft Dynamics AX, and D365 FSCM takes the power of AX to a different level!

It provides accessibility – anywhere, anytime via a browser-based user experience that enables users to access the system from any location and on any device.

Functionality includes: Finance (GL, AR, AP, Cash and Bank, FA, Budgets, Costing,) Sales, Purchasing, Planning, Advanced Warehouse Management, Discrete, Process and Lean Manufacturing, Master planning ATP and CATP, Retail, Project Management and Accounting, Asset Management, and Public Sector. modules. This is supported by numerous reports and dashboards and an in built Financial Reporter tool, and in built tools for case management, and workflow management.

As a Microsoft solution there is already integration with Azure technologies such as Microsoft Fabric, Microsoft 365 office productivity tools, Power apps and Power Bi, SharePoint and much more, all wrapped around with Microsoft security and platform management .

In addition, there are also numerous Apps available which extend the standard functionality and provide additional ISV and vertical solutions for example Synergy offers its own:

  • GCC localised HR and Payroll further enhanced with BI Dashboards, and automated PRO and employee self service processes.
  • A comprehensive Real Estate solution.

If you are looking for an enterprise multi county ERP system, or seeking to move upwards and onwards from Dynamics Ax, Dynamics GP or NAV, or other ERP systems the you will appreciate all that FSCM has to offer. However, you might just be a little nervous of how go forward with a multi company system, how long will take, how much will it cost and million other questions.

Synergy Software Systems is the oldest partner in the region and was the first Gold Partner for Dynamics Ax. We have a large mature team of consultants, professionally certified by Microsoft, who have helped guide other enterprises faced with the same challenges. Consultants are based here in Dubai, and we have a manned helpdesk through our working hours – one reason we received the Highest Customer Satisfaction Award from Microsoft.

Put your worries behind you and seize the future and call us on 0097143365589 for impartial, informed advice.

Microsoft Business Applications Wave 2 2023

October 31st, 2023

At the Microsoft Business Applications Launch Event, last week  the 2023 release wave 2 for Microsoft Dynamics 365 and Microsoft Power Platform was announced. This is a a six-month rollout of new and enhanced capabilities scheduled for release between October 2023 and March 2024.

This release wave introduces hundreds of new features across Microsoft Power Platform applications. It  included enhanced capabilities for: governance, administration, and professional development.

 Updates for Dynamics 365 include innovation to:

  • help employees be more productive,
  • create exceptional customer experiences
  • deepen relationships,
  • drive meaningful growth across the business.

This release features new AI capabilities in Copilot to improve insights, save time, and enhance creativity across Dynamics 365 and Microsoft Power Platform.  

Organizations like Nestlé, Kodak Alaris, Northern Trust, Centrica, Spark NZ, Domino’s Pizza UK and Ireland, and Suffolk are already adopting these capabilities to drive transformative changes in their businesses.

Updates to Microsoft Dynamics 365 Finance include the general availability of extended planning and analysis, which brings together operational and financial planning to continuously plan, act, and analyze.

General availability of business performance analytics streamlines financial reporting by centralizing data from multiple business processes and in an easy-to-use interface.

Updates to Microsoft Dynamics 365 Supply Chain Management include improvements in demand planning, as well as procure-to-pay processes. Copilot will suggest actions tto help purchasing agents make better decisions in response to new and updated information that affects open purchase orders.

With Microsoft Dynamics 365 Sales, Microsoft Dynamics 365 Customer Insights, and Copilot you can use data and insights that used to be hidden, unlock capabilities previously out of reach, and reach new levels of productivity and collaboration.

The new release wave introduces a variety of solutions to help marketers and sales professionals use Copilot to deepen their understanding of their target customer base, streamline engagement processes, and push the boundaries in crafting exceptional customer experiences. 

Copilot in Power Platform bring a new era of AI-assisted low-code development. Copilot features in release wave 2 to make it easier to quickly create solutions.

Copilot plays a vital role in democratizing development, to enable a broader audience—both citizen and professional developers—to create innovative solutions using natural language. Copilot within Microsoft Power Platform  significantly improves the governance and administrative experience, to expedite the development of applications.

New Continuous update policy for Dynamics 365 Finance and Supply Chain

October 27th, 2023

In2018, Microsoft released the Continuous Update policy for Dynamics 365 Finance & Supply Chain Management (D365 FSCM), which included seven service updates per year. 

Last month Microsoft announced it reducing the number of service updates released per year to four. Here’s what to expect with these upcoming D365 FSCM release schedule changes.


Major releases, previously known as the Spring and Fall updates, will shift to January and July, with minor updates in April and October. The new naming convention will also be introduced at the same time.

Major releases will be denoted on version numbers with a “*”, e.g., “CY25Q2: 10.0.43*”.

The update name will consist of two segments.

  • The first will denote the year and quarter the update is scheduled to automatically be applied to production environments.
  • The second segment will be the update version. For example, “CY24Q1: 10.0.38” is version 10.0.38 that will be automatically applied to production from the first quarter of 2024 onwards.

You can only pause one consecutive update instead of three.

The total minimum number of updates you are required to take per year remains at two.

The management of updates—pausing, scheduling, and deploying to sandboxes—is still through LCS, as described here:

Upcoming Release Schedule

D365 FSCM release schedule


Proactive Quality Updates (PQUs) remain unchanged and will be pushed in between service updates, delivering periodic cumulative hotfixes.

The PQUs will follow the same “safe-deployment” model, which first delivers the PQUs to a single region that contains a small group of customers who have the highest tolerance for risk.

When no regressions are identified, the process continues through a broader group of customers, based on geographies (stations), until all customers are using the new version.


UAE e-commerce Emirate specific VAT reporting

August 18th, 2023

The Federal Tax Authority (FTA) has stressed the need for taxpayers to abide by accurate, emirate-specific Value Added Tax (VAT) reporting requirements in relation to e-Commerce.

The Authority noted that recent updates to the VAT legislation in the UAE, specifically around the reporting of e-Commerce supplies result in additional obligations for a number of persons when preparing their VAT returns.

The FTA emphasized that businesses must carefully assess whether they fall under the new reporting obligations, noting that failure to comply or compliance with the updated reporting when not required may result in mistakes and expose companies to potential penalties.

Starting from 1 July 2023 and in the VAT return for the first tax period starting on or after that date, “qualifying registrants” are required to:

  • report supplies made through e-commerce in box 1 of their VAT Return, based on the Emirate in which the supply of goods or services is received by the customer.
  • They are also required to retain the relevant supporting evidence.
  • If a taxpayer is not a qualifying registrant or if a supply is not an e-commerce supply, then the taxable business must report its supplies in the Emirate where its fixed establishment related to the supplies made is located.

The FTA of UAE has recently issued certain user manuals on

The FTA explained that starting from 1 July 2023, and in the VAT return for the first tax period starting on or after that date, “qualifying registrants” are required to report supplies made through e-commerce in box 1 of their VAT Return, based on the Emirate in which the supply of goods or services is received by the customer. They are also required to retain the relevant supporting evidence. If a taxpayer is not a qualifying registrant or if a supply is not an e-commerce supply, then, generally, the taxable business must report its supplies in the Emirate where its fixed establishment related to the supplies made is located.

The Authority called upon the taxpayers to review the relevant legislation and the clarifications provided by the FTA prior to their next VAT return submission process, to determine if:

 They have made e-commerce supplies in the calendar year ending on 31 December 2022

  • The value of these e-commerce supplies made in the previous calendar year exceeded AED100 million.

 The Federal Tax Authority noted that in order to assist taxpayers in preparing a correct VAT return, the FTA’s Tax administrations system (“EmaraTax”) will request taxpayers to respond to a set of 2 questions to confirm if they are indeed qualifying registrants with respect to the new e-commerce supplies reporting requirement. This double-check will aid taxpayers to submit a correct VAT reporting, avoiding any later corrections or penalties.

Microsoft to end new Dynamics GP sales and will move BC to subscription only licenses.

August 6th, 2023

Microsoft recently alerted partners of plans to end the sale of Dynamics GP to new customers over the next three years. Microsoft will stop selling new perpetual licenses for new customers Dynamics GP in October 2025, and the sale of new Dynamics GP subscription licenses for new customers will end in October 2026. The change effectively sets an end date for new customer sales of GP.

These decisions do not impact the ability of existing customers of GP and BC on-prem to run their systems, to add users, or to license capabilities.

This change doesn’t impact Microsoft’s plans for providing necessary regulatory/security/usability updates for Dynamics GP beyond this date. New customers seeking an on-premises ERP solution consider Dynamics 365 Business Central on-premises or Dynamics 365 for Operations on-premises, Enterprise Edition. 

Dynamics 365 Business Central on-premises solutions will move to subscription-based licensing only, ending the perpetual license option.

Subscription billing replaces revenue recognition in Dynamics 365 Finance

June 21st, 2023

Subscription billing enables organizations to manage subscription revenue opportunities and recurring billing through billing schedules.

Complex pricing and billing models and revenue allocation are easily managed, and are billed and recognized at the line level.

Multi-element revenue allocation enables allocation of revenue to comply with International Accounting Standards (International Financial Reporting Standard 15 [IFRS 15]) and Generally Accepted Accounting Principles (US GAAP) standards (Accounting Standards Codification Topic 606 [ASC 606]).

The solution has three modules that can be used independently. Alternatively, all three modules can be used together.

  • Recurring contract billing – This module enables recurring billing and price management to provide control over pricing and billing parameters, contract renewal, and consolidated invoicing.
  • Revenue and expense deferrals – This module eliminates manual processes and dependency on external systems by managing revenue and enabling real-time insight into monthly recurring revenue.
  • Multiple element revenue allocation – This module helps with revenue compliance by handling pricing and revenue allocation across multiple items.

Note the current revenue recognition module will be deprecated in October 2023, and since April 2023 is receiving no code updates/fixes.

UAE Corporate tax – its important to use official sources of information

June 13th, 2023

The Ministry of Finance has called on the public to rely only on official publications and posts issued by MoF and the Federal Tax Authority regarding the Federal Decree Law 47 of 2022 on the Corporate Tax Law and the associated Cabinet and Ministerial Decisions.

A number of posts circulating on social media and other platforms are being published by independent parties, and those may contain inaccurate and unreliable interpretations and analysis of Corporate Tax


Federal Decree-Law No. 47 of 2022 – – the legislative framework for corporate tax on business profits in the UAE

December 21st, 2022

On December 9, 2022, the UAE published the Corporate Tax (CT) Law, which will be effective from the financial years starting on or after June 1, 2023.

Corporate Tax is a form of direct tax levied on the net income of corporations and other businesses.  Corporate Tax is sometimes also referred to as “Corporate Income Tax” or “Business Profits Tax” in other jurisdictions.

Broadly, Corporate Tax applies to the following “Taxable Persons”:
● UAE companies and other juridical persons that are incorporated or effectively managed and controlled in the UAE;
● Natural persons (individuals) who conduct a Business or Business Activity in the UAE as specified in a Cabinet Decision to be issued in due course; and
● Non-resident juridical persons (foreign legal entities) that have a Permanent Establishment in the UAE (which is explained under Section 8).
Juridical persons established in a UAE Free Zone are also within the scope of Corporate Tax as “Taxable Persons” and will need to comply with the requirements set out in the Corporate Tax Law. However, a Free Zone Person that meets the conditions to be considered a Qualifying Free Zone Person can benefit from a Corporate Tax rate of 0% on their Qualifying Income (the conditions are included in Section 14).
Non-resident persons that do not have a Permanent Establishment in the UAE or that earn UAE sourced income that is not related to their Permanent Establishment may be subject to Withholding Tax (at the rate of 0%). Withholding tax is a form of Corporate Tax collected at source by the payer on behalf of the recipient of the income. Withholding taxes exist in many tax systems and typically apply to the cross-border payment of dividends, interest, royalties and other types of income.

During this month, FTA will also be running a series of online orientation sessions for EmaraTax users. There will be two sessions per day:

• 10 – 11 am providing you an opportunity to raise specific questions about using EmaraTax;
• 3 – 4 pm focusing on specific aspects of EmaraTax, in particular password reset, returns submission and payments.

This You Tube recording has already been released and will soon also be available in Arabic.

Dynamics 365 Business Central 2022 release wave 2 – ask Synergy Software Systems

October 6th, 2022

This covers the new functionalities planned to be delivered to market from October 2022 to March 2023. 

Updates in 2022 release wave 2 include:

  • Seamless service: No matter the industry type of a small or midsized business (SMB), business users expect a dependable service and platform that they can run their business on.
  • Administration: Business Central delivers a set of features for better and improved communication about the health of each environment.
  • Application: Improve integration with Shopify. The finance and supply chain capabilities in Business Central are improved with several optimizations and enhancements so that users can run their business processes more efficiently.
  • Better with Microsoft 365: Improved the efficiency of collaborative business processes in Microsoft Teams. Users can pin cards inside Teams, and delegated admins can now use the Excel add-in.
  • Country and regional: In 2022 release wave 2, Business Central is generally available in more countries and regions.
  • Onboarding: Organizations can get to productive usage faster because it’s easier to discover and install apps.
  • Development tools: Now entirely Visual Studio Code
  • Power Platform: More efficient automation with Power Automate so that users can set up workflows for the specific needs of their organization.
  • This release wave contains features that must be enabled or configured by administrators, makers, or business analysts to be available for their users. For the complete list, look for all features tagged “Users by admins, makers, or analysts” in the release plan.


FeatureEnabled forPublic previewGeneral availability
Better bank reconciliation for checks and improved reportingUsers, automatically Sep 1, 2022Oct 2022
Extended text functionality for VAT clausesUsers, automatically Sep 1, 2022Oct 2022
Financial reporting replaces account schedulesUsers, automatically Sep 1, 2022Oct 2022
Find posted and non-posted document lines in searchUsers, automatically Sep 1, 2022Oct 2022
Flexible sorting in the Planning Worksheet pageUsers, automatically Sep 1, 2022Oct 2022
Make entry of variant codes requiredUsers by admins, makers, or analysts Sep 1, 2022Oct 2022
Post item charges for each step of the processUsers, automatically Sep 1, 2022Oct 2022
Service – minor improvementsUsers, automatically Sep 1, 2022Oct 2022
Simpler Shopify connectionUsers, automatically Sep 1, 2022Oct 2022
Track items that are used in projects, including picksUsers, automatically Sep 1, 2022Oct 2022
New VAT Date field on documents and entriesUsers, automaticallyOct 2022Oct 2022
Set up data exchange more easilyUsers, automaticallyOct 2022Oct 2022
Use multiple remit-to addresses for vendorsUsers, automaticallyOct 2022Oct 2022
Reverse payment reconciliation journal entriesUsers, automaticallyOct 2022Nov 2022

Why now is the time to adopt Power Bi – ask Synergy Software Systems, Dubai

August 19th, 2022

Power BI innovation never stops. For several years in a row now, it is positioned as a leader in the 2021 Gartner Magic Quadrant for Analytics and Business Intelligence Platforms, furthest to the right for completeness of vision and furthest up in the ability to execute within the Leaders’ quadrant.

The gaps are widening with interactive reports, paginated reports, datasets, dataflows, deployment pipelines, scorecards, dashboards, metrics, data alerts, and much more, and recently announced in public preview, self-service datamarts. No wonder, customers are adopting Power BI at an accelerated pace. Boost Office 365 productivity with Power BI integrated into PowerPoint and Microsoft Teams, connect to data anywhere with hundreds of built-in connectors, leverage industry-leading AI, go quickly from insight to action with the Microsoft Power Platform, and provide best-in-class mobile experiences with Power BI Mobile.

Reports can be mobile friendly, they can be paginated, and you can link into Azure Analysis Services.