Microsoft is releasing new features in Microsoft Dynamics 365 Finance. As part of the D365 wave 1 2021 release plan, these new features will give finance leaders and users insights into their operations, more automated functions, and machine learning capabilities.
Advanced Bank Reconciliation Statements
D365 Finance is bringing more robust controls to the bank reconciliation process. In wave 1 2021, Microsoft introduces a new feature that allows the endpoint for one bank statement to overlap with the starting point of the next day’s bank statement. Finance leaders will have more flexibility to ensure the dates start/endpoints of a bank’s daily statements imported into D365 match the time frame that your bank uses for the daily statements.
Vendor Collaboration Bank Charges
The vendor collaboration workspace in D365 Finance provides vendors the ability to enter their banking information directly in the ERP. This new feature helps eliminate your company’s team from handling sensitive banking information about their vendors.
This also makes your vendors responsible for entering their banking information if they want to receive electronic payments.
Intelligent Budget Proposal
Organizations spend a large amount of time and resources preparing budgets, including repetitive low-value-added effort. Finance team members also spend significant time preparing line-by-line budgets for each department.
Intelligent budget proposal capabilities make it easy to gather historical data from actuals or budgets for budgeting. This new feature gives you the ability to create a draft budget automatically, saving time by creating a starting point to be analyzed and edited.
New workspace in D365 Finance includes all the necessary elements that treasures need to monitor and manage their company’s cash successfully. Think of it as a one-stop to manage cash. The treasurer workspace is slated for public preview in July 2021.
Additional resources for finance leaders:
Microsoft D365 2021 Wave 1: Cash Forecasting
These new features and capabilities enhance existing functionality to streamline the D365 Finance users’ business processes and user experience and are part of the Microsoft D365 2021 wave 1 release.
Learn more about the important features in the D365 2021 Wave 1 Release: