No matter the industry of a small or midsized organization, business users expect dependable service and a reliable platform on which to run their company.
Microsoft strives to ensure that Dynamics 365 BC remains ahead of the curve in providing the tools needed to meet customer demand. To that end, they recently released Dynamics 365 BC Wave 2 to improve performance and usability. We've identified five time-saving features in Dynamics 365 BC Wave 2 that are noteworthy.
In this video,
1) Bank Reconciliation with Dynamics 365 Wave 2
True, bank records are not the most glamorous function of Dynamics 365 BC, but it is most often used. Some of the Wave 2 changes particularly impact our US customers. Those using checks in the system will find that the check ledger entry is now easier to match with the bank statement lines. This feature will eliminate manual matching on bank statements.
Also, prompts are activated about direct posting when you set up new bank accounts. So if you set up a new account posting group with a GL code that has direct posting turned on, it will alert you that it will make bank rec more difficult. These may seem like small functionality changes, but they will make a significant difference if you reconcile on a daily, weekly, or monthly schedule. More accurate matching is a vast improvement.
2) Account Schedules in Wave 2. Account Schedules is now Financial Reports. This time-saving feature lets you perform financial reporting without going into PowerBI or JetReports. There are now tours in the system to help you understand how the columns and the rows relate to the dimensions and how you can get the reporting set up just the way you need it.
Tours throughout the system match with Help files from Microsoft. In the video, you can see screenshots of the processes. If you press F1 for Help when using the new Financial Reports, you'll be able to dig into more detail. It's a small but powerful bit of functionality and is especially useful for training.
3) Wave 2 changes in Jobs or Projects using Item Tracking. Not every business with inventory or stock uses item tracking. But if you use long-term contracting, this feature will help your job planning. Previously, item tracking and long-term contracting did not work well enough. Now, as you see from the screenshots, when you have a serial or lot-tracked item for a job, you can get more accurate costing in your projects. It's nice to see Microsoft make those two areas of functionality compatible.
4) VAT Date - Wave 2. There are dates everywhere in Business Central. One missing feature was the ability to use a different date for the posting date and document date. That had an impact on VAT returns. Now there is a field, as shown in the screenshot, the VAT Date, added to Dynamics 365 BC. You can set the default to either the posting date or the document date. Crucially you can overtype it as well if you have a situation where the invoice is late, but it relates to the previous period. Closing the ledgers, you can ensure that the return date is correct. It will be pulled through into the VAT entries and the GL entries. You can change it later if you need to. It is a very useful feature for the accuracy of bank reporting and having to make corrections in each period.
5) Onedrive Integration in Wave 2. Microsoft continues to invest in robust collaboration features across Microsoft365 and Dynamics365. The latest changes include editing in Excel from the browser, thanks to the Onedrive Integration. When you edit Excel from a customer's list as an example, you can open that in a browser tab. The same applies to editing in Word. This time-saving feature lets users stay in the browser the whole time when using Dynamics 365 BC. You can add attachments and share links directly through Outlook.
These seemingly small changes can be considered quality-of-life improvements. You'll use these features time and again, significantly improving the workflow throughout the system and, ultimately, the efficiency of Dynamics 365 BC.
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By Bam Boom Cloud,