Financial Period Closing in Dynamics 365 for Finance and ...

Under General Ledger Module > Period Close, navigate to Financial Period Close configuration form. · Taking a bottom up approach, under the ... PowerCareLogin|Careers|OurResponsetoCovid-19|SelectLanguageChinese(Simplified)Chinese(Traditional)DanishDutchEnglishFinnishFrenchGermanHindiIndonesianMalayNorwegianSpanishSwedishThaiVietnameseProducts&TechnologyPowerPlatformPowerBIPowerAppsPowerAutomatePowerVirtualAgentsMicrosoftDynamics365SalesMarketingFieldServiceCustomerServiceFinanceSupplyChainManagementCommerceHumanResourcesProjectOperationsBusinessCentralMicrosoftDynamicsAXMicrosoftDynamicsCRMMixedRealityOffice365PowerPacksIndustriesFinancialServicesPowerBankingPowerCapitalPowerInsuranceHealthandLifeSciencesLocalandState/RegionalGovernmentManufacturingOilandGasPropertyPowerPropertyRetail/CPGUtilitiesServicesPowerPlatformCOECloudMigrationMigrationfromAXtoD365MicrosoftCloudforHealthcarePowerSuccessLicensing/CSPChangeManagementPowerConvertSupportPay-as-you-GoSupportDedicatedSupportEngineerApplicationSupportManagementOnlineAcceleratorPowerSuccessforBusinessCentralPowerSuccessforPowerPlatformPowerSuccessD365CRMEducationAdoptionandGovernanceChangeManagementDynamics365UniversityTrainingDesign-Your-OwnTrainingUpcomingTrainingsandEventsWebinarsonDemandAdd-OnsMarketingAutomationProductivityCaseStudiesBlog&ResourcesLatestBlogPosts5ReasonsWhyPowerSuccessforPowerPlatformisRightforYourOrganizationInthispostweexplorethetop5reasonsPowerSuccessforPowerPlatformistherightsupportprogramforyourorganization!NewFeature:DocumentManagementinOutboundEmailCampaignsThisblogpostprovidesinsightonhowtheReal-TimeMarketingAssetLibraryinDynamics365MarketingcanbeusedtohostpublicPDFdocumentsforOutboundmarketingcampaigns.7ReasonstoChooseDynamics365F&SCMIfyourorganizationisn’tleveragingacloud-basedERP,now’sthetimetomaketheshift!Hereare7benefitsthatmakeDynamics365Finance&SupplyChainManagementtherightchoice.ReadtheBlogLatestResourcesHowMicrosoftPowerPlatformishelpingtomodernizeandenable...Inthiswebinar,ourexpertsshowcaseavarietyofdemousecasesofhowdifferentcomponentsofthe...DeliveranExtraordinaryOmnichannelExperienceBusinessesthatprovidemultipletouchpointsforcustomerservice—poweredbyintelligentautomation...DataInteroperabilityKeytoImprovingthePatientExperienceAsthehealthcareindustrycontinuesitsshifttopatient-centriccare...ViewallResourcesMore...POTVPOTVisyourdesignationforDynamics365videocontent.EventsPowerObjectsoffersawidevarietyofDynamics365events,trainings,andwebinars.CareersWe'relookingforbright,energeticandmotivatedpeople.NewsPowerObjects'latestpressreleasesandMicrosoftBusinessApplicationnews.WebinarsonDemandWerecordallofourwebinarssotheycanbewatchedondemandatanytime.ContactPowerObjectsBlog forMicrosoftBusinessApplicationsDynamics365|Dynamics365FinanceandSupplyChainManagementFinancialPeriodClosinginDynamics365forFinanceandOperationsEnterpriseedition PostAuthor: JoeD365 | November28th,2017 ClosingafinancialperiodisoneofthemostimportanttasksthatanAccountingdepartmentdevotesahighlevelofeffortaccomplishing.TonsoftimeisinvestedincreatingandassigningthevarioustasksrequiredtoclosefinancialperiodsandinevitablyendsupbeingtrackedmanuallywithpagesofExcelspreadsheets. Today,yourFinancialPeriodCloseandstatustrackingprobablylookssomethinglikethis: Withthis,youarenotableto: Haveadashboardofpastdue,remaining,orblockedtasks. Haveastatusbycompany,area,orperson. Assigndependenciesoraddtemplatesorattachments. Intoday'spost,wediscussthedetailsoftheFinancialPeriodCloseworkspaceandhowitcanmakeadepartmentmoreproductive,efficientandcloseperiodsfaster. WorkspacesintheDynamics365forFinanceandOperations,EnterpriseEdition(F&O)areanewconceptwhichreplacestheRoleCenterfrompreviousversionsofDynamicsAX.Workspacesarea"native"componentoftheapplicationandseemtobemoreintuitivefortheusersandhelpthemdomorefromonecentrallocation. Let'speekatsomeoftheunderlyingsetupsbeforewediscusstheworkspace. HowtoConfigureFinancialPeriodClosing: UnderGeneralLedgerModule>PeriodClose,navigatetoFinancialPeriodCloseconfigurationform. Takingabottomupapproach,undertheClosingrolestab,createperiodclosingrolesperyourfirm'spolicies. UndertheResourcestab,selecttheemployeeswhoareapartoftheFinancialPeriodclosingprocess.Also,underthe"View"dropdownbox,youcanset"Whattheywillseewhentheygotothisworkspace".Additionally,youcanassignoneormoreclosingrolesofeachoftheseresources. UndertheTaskareas,definethedifferentareasofthetasksforfinancialperiodclosing,suchas,GeneralLedger,AccountsPayable,AccountsReceivable,Banking,etc. UndertheCalendarstab,configureandsetthecalendarforschedulingthetasksofFinancialPeriodClosing. UnderTemplatestab,createthetaskslistsfromscratchorfromanexistingtemplate.Thisshouldbeyourcompletelistofprocessesthatarerequiredtocompletetheclosingprocess.YoucansetuptheTaskdescription,modulearea,duedate,assignedrole,andcompanyorcompaniesassigned.Youcanalsosetupdependenciesbetweentasksandsetdirectlinkstodifferentformstocompletethetasks. Finally,createyourfinancialperiodcloseschedule,selectthestartandenddates. Nowthatsetupsarecomplete,let'slookattheFinancialPeriodClosingworkspacefromanemployeeperspectivewhohasaclosingroleintheprocess. AprilwhoplaystheroleofAPInvoicingandPaymentsclerkintheclosingprocess,navigatestotheFinancialPeriodClosingworkspace. Onthisworkspace,shegetstoseefilteredlistoftasksandlivetilesgivingheradashboardofherstatusofpastduetasks,today'sremainingandblockedtasks,andasummaryofallremainingtasks. ShealsoseestheTasklistthatareassignedtoher.Foreachofthetasks,sheseestheduedate,dependencyandshecannavigatetothedestinationformdirectlyifneededbysimplyclickingonthetaskandcompletingthetasks.Forexample,shecanclicktheVerifyVendorAgingtasktodirectlylaunchtheagingform. Onceshecompletesthetask,shemarksthetaskasCompletebymarkingthe Completedcheckbox. Let'snowlookattheworkspacefromtheAccountingManagerperspective. WhenGary,theAccountingManagernavigatestotheworkspace,hegetsreal-timestatusupdatesintermsof%completionofthetasksbyentity,taskarea,bypersonandmore. Soclearly,themanagergetsanaccuratedepictionoftheclosingprocessforallemployees,thepercentagescompletedinallmodules,andforallentities. Insummary,theFinancialClosingPeriodworkspaceassistsinmakingforamorerobust,accurate,andefficientprocessthatenablesaccountingpersonneltocompletethemonthendprocessmuchfasterandcanprovideoperationalandfinancialreportsinatimelierfashiontomanagementandboardmembers. TolearnmoreaboutDynamics365forFinanceandOperations,checkoutourOn-DemandWebinarSeries! HappyDynamics365'ing! FacebookTwitterLinkedInYammerByJoeD365JoeD365isaMicrosoftDynamics365superherowhorunsonpureDynamicsadrenaline.AsthefaceofPowerObjects,JoeD365’smissionistorevealinnovativewaystouseDynamics365andbringtheapplicationtomorebusinessesandorganizationsaroundtheworld. 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