In this blog, we will explore three areas in Dynamics 365 Business Central where your accounting team can save keystrokes and work more efficiently:
Recurring Purchase and Sales Lines
The Recurring Purchase and Sales Lines in Dynamics 365 Business Central function similarly to the default accounts function in other ERP solutions. The key difference is that you set up a code and assign it to one or more vendors or customers.
This is helpful because if you change the account number that a code should be assigned to, you don’t have to update each individual customer or vendor. Just update the code, and the change will be automatically applied to each customer or vendor that uses that particular Recurring Purchase or Sales Line code.
As you assign a Recurring Purchase or Sales Line code to a vendor or customer, you can choose to automatically default the line(s) on new transactions. This speeds up the process of generating purchase orders and invoices for any vendor or customer with a particular code assigned to them.
You can also create Recurring Sales Invoices for all or specific customers based on the Recurring Sales Line code(s) or customer filter. Once you see this in action, you will realize this takes very little effort.
Recurring General Journals
Recurring General Journals eliminate the need to rekey or copy entries from Excel that are exactly the same month after month. For instance, you might pay real estate taxes twice per year but accrue the cost monthly at the exact same amount. All you need to do is post the Recurring General Journal entry each month.
After an entry is posted, the Posting Date will advance based on the Recurring Frequency used. Keep in mind when posting a reversing entry…the reversal is automatically posted the day after the Posting Date. Make sure your Posting Date is the last day of the month or define a Reverse Date Calculation.
The Reverse Date Calculation field enables another handy function. This allows you to enter a formula such as CM+1D to ensure the reversal is posted one day after the last day of the month.
Standard Journals
Standard Journals in Business Central are similar to the Quick Journal function in other ERP systems. Standard Journals are another way to eliminate rekeying or copying infrequent entries. You can save them as a Standard Journal and invoke them only when you need to. This way, you won’t clutter up your Recurring General Journal batch listing.
This comes in handy, for example, when analyzing the bad debt expense account each month, but you don’t always need to make an adjusting entry. You can set up a Standard Journal, so when you do need to make an entry, you just pop the amount right in.
Conclusion
Dynamics 365 Business Central offers various features designed to save time and improve efficiency for accounting teams. By utilizing Recurring Purchase and Sales Lines, Recurring General Journals, and Standard Journals, you can streamline your workflows and reduce manual data entry.
If you have specific questions or need assistance, contact CBR Technology today. We are here to help you reduce keystrokes and mouse clicks while designing, deploying, and supporting your Microsoft Dynamics 365 solutions.
Contact us today to learn more about how we can tailor Dynamics 365 Business Central to meet your business needs and help you achieve your goals.
Website: cbrtechnology.com
Email: sales@cbrtechnology.com
Phone: 855.227.0700
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