Dynamics 365 Finance release notes

On the 27th of January 2020, Microsoft announced the range of new features coming to Dynamics 365 Finance on the 1st April 2020. This forms part of Microsoft’s wave 1 2020 updates.
Microsoft has announced a wide range of new feature updates in this wave for Dynamics 365 Finance. This forms part of Microsoft’s 6 monthly updates on Dynamics 365 Finance and their commitment to continual enhancements across their full range of Dynamics 365 products.

Dynamics 365 Finance release notes – April 2020

Formerly Dynamics 365 for Finance and Operations, Dynamics 365 Finance releases enhancements to country-specific tax, invoicing, payment formats, and regulatory reporting capabilities to help global organisations stay compliant with newly introduced local regulations. The new capabilities will be released between February and September 2020. The main updates to core financials include:

  • Globalisation – Globalisation investments have been made on maintaining regulatory compliance in 37 countries and regions and extending out-of-the-box localisation by integrating a partner’s Italian add-in EXIL into the core Italian localisation. Microsoft is also delivering ISO 20022 format for international payment and treasury transfer for France.
  • Allow filtering the Tax 1099 detail report by reporting year – For the Tax 1099 detail report, a new filtering option is available that lets you filter by reporting year.
    Budget planning query optimisation for performance – Improves performance when processing data in the Budget Planning module. Will also improve performance when using the Publish button in Excel to update existing records.
  • Credit management – Credit management will proactively suggest credit control activities, thereby improving cash flow, reducing bad debts and providing insight and controls that help you manage credit risks while ensuring that customers have the flexibility to take advantage of promotions and make the purchases they need.
  • Date range for Posted transactions by journals report – The addition of two fields to the user interface, a From date field and a To date field, on the report dialogue for the Posted transactions by journals report.
  • Prohibit submission to workflow when the invoice total and registered invoice total are not equal – Prevent a vendor invoice from being submitted to the workflow process when the invoice total and registered invoice total are not equal. Instead, the person who submitted the invoice receives an alert that the totals are not equal, letting them correct it before submitting it to a workflow.

Dynamics 365 Finance release notes for Public Sector, including:

  • Daily statement of treasurer’s accountability – Generate a daily report to review the activity in selected accounts for the treasurer’s fund and compare that to the equity activity in other funds. This daily report allows you to search for discrepancies, unexpected balances, and possible adjustments needed, and to complete other general audit functions.
  • AP check approval register report – This feature adds a total number of checks and invoices to the check approval register report, which makes it easier to reconcile the printed checks with the system.
  • Canadian harmonised sales tax – Portions of the HST can be recovered by public sector entities if the tax has been paid to vendors, depending on the purpose of the purchase. The purpose is designated by the financial dimension values and main account on the transaction document line.

Dynamics 365 Finance users also get access to the Power Platform, and this has received a wide range of updates which will benefit finance leaders users.

Overall this is great news for Dynamics 365 Finance users and those organisations considering it as a future solution. As with all Dynamics 365 updates, this is a free update that will be automatically applied on the 1st April for all users.