The latest features in Microsoft Dynamics 365 Business Central

In October 2023, Microsoft released the latest Microsoft Dynamics 365 Business Central version, the “2023 Release Wave 2”. This update brings critical functional changes that may affect how you use the platform. This week, we’re looking at some of the most notable improvements and new features.

Link document date and posting date (separately) for sales and purchase

To comply with accounting standards and ensure the accuracy of financial entries, sales, and purchase documents are provided with date fields with different purposes. Previously, the document date was automatically updated when the posting date was changed. A setting to turn off this link will keep the document date unchanged even if the posting date is adjusted. This change allows for greater flexibility and compliance with accounting regulations.

Option to use different ledger accounts for accounts payable and receivable

Businesses can now use a variety of ledger accounts for accounts payable and accounts receivable transactions, which is helpful for situations where transactions have specific accounting requirements. This option can be enabled by activating the “Allow multiple booking groups” setting. This allows users to customize the posting groups for customers and vendors when posting sales or purchase documents and journals. This provides more control over the accounting processes and makes customization easier.

Use allocations to distribute costs and revenues more efficiently with an allocation account

In the new version of Business Central, you can use allocation accounts to distribute costs and revenues more efficiently across G/L accounts and dimensions. This helps reduce errors and speeds up data entry for recurring bookings. Allocation accounts can be used in various journals and soon in purchase and sales documents. This feature simplifies financial planning and reporting.

More control over journal approvals

This release introduces improvements to the journal approval workflow. The General Journal Batch Approval Workflow now includes an approval status field, which makes it easy to track the status of approvals. This is especially useful for companies that work with approval processes. This enhancement increases visibility and control over financial approval processes.

Intercompany journal workflows

The new version of Business Central includes workflows for intercompany journals, giving you more control over intercompany entries. This workflow allows administrators to review intercompany journals before they are posted. The approval status is now clearly visible, improving accuracy and control. This is especially beneficial for organizations with complex intercompany operations.

E-documents module as a global solution

The E-documents module in Dynamics 365 Business Central supports different electronic invoicing models tailored to other countries’ requirements. This module offers configuration options and can follow specific e-invoicing processes. It is a versatile solution that allows businesses to process electronic documents in various ways. This is an important step forward in digitizing financial processes.

Barcode printing and scanning

The new barcode and QR code functionality allows you to use GTIN codes for label printing on different pages. These codes can be scanned with your device’s camera through the Business Central mobile app. Although this feature is still under development, it is a promising addition for companies that work with barcodes.

Intercompany functionality across multiple environments

The ability to use intercompany functionality across various environments and consolidate financial data for businesses across different environments is a welcome addition for organizations with various companies and production environments.

New design for language and region settings for reports

With the ability to define language and region settings for reports, users can now more accurately generate reports that meet regional requirements. This update provides more flexibility in creating reports and can help correct language and region settings errors. This is a valuable addition for companies that are involved in international activities.

Searching in company data

Thoughtful search for business data is crucial in today’s business world, where information plays a key role. One of the essential aspects of efficient searching in business data is understanding how the order of search results is determined. The correct table is of great importance, as this directly influences the relevance of the results. Additionally, advanced systems allow businesses to customize tables and fields to meet the specific needs of different user roles. This makes it possible to refine searches and increase the usability of the data. At the same time, employees must be aware of their responsibility for minimizing the performance impact of their searches so that the system continues to run smoothly and there is no unnecessary burden. Properly managing and leveraging search capabilities in enterprise data can be the key to unlocking valuable insights and improving operational efficiency.

Error messages with follow-up actions

Since Business Central 2023 Release Wave 2, Microsoft has introduced a groundbreaking improvement in the world of error messages: ‘actionable errors’. These error messages go far beyond the standard warnings and error codes. Not only do they provide transparent information about what went wrong, but they also provide immediate and appropriate follow-up actions to resolve the issue. This development is even more potent because these actionable errors are now also available from the context of validating a field. This means that users no longer have to spend hours searching for the cause of a mistake but can see at a glance what is wrong and how to fix it. This new functionality takes the user experience in Business Central to the next level and saves companies valuable time and resources when resolving problems.

These new features and enhancements in Microsoft Dynamics 365 Business Central 2023 Release Wave 2 promise greater efficiency, control, and flexibility for businesses. Users must understand these changes and take action to exploit them fully. For more detailed details about the new and upcoming features available for Dynamics 365 Business Central, visit Microsoft’s website: What’s New and Planned for Dynamics 365 Business Central 2023 Release Wave 2 | Microsoft Learn.