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Bank Account Lifecycle Management
Introduction
Bank account lifecycle management is essential for maintaining control over financial operations. This process helps users get approval for new bank account creation, modifications, and allows tracking of historical changes. Below are the steps to enable and manage this feature in Microsoft Dynamics 365 F&O
Enabling the Bank Account Lifecycle Management Feature
First, we need to enable the Bank account lifecycle management feature in the feature management section. After enabling this feature, we can proceed with the necessary setups
After enabling this feature, we can find Cash and bank master data change setup as shown below.
SETUPS
ACTIVE WORKFLOW
- Go to Cash and bank management > setup > cash and bank management workflows.
- Click New and select Workflow for proposed bank account change and create a simple workflow
- Active workflow.
ENABLE PARAMETERS
- Go to Cash and bank management > setup > cash and bank master data change setup.
- Enable Change approval on modification then we get protected fields, Active check boxes which are needed to be approved.
- Enable Change approval on creation for approval for new bank account creation
- Changes history feature is used to track the change history made on Bank accounts creation and modification.
- Data entity behavior consists of the below options:
PROCESS
Now, as shown below am trying to create or make any modifications on bank account, Workflow needs to be submitted and get approved first
TRACK CHANGES
Here, we can track any changes made on bank accounts or any bank account that has been created.
CHANGE PROPOSAL
Here, User find the proposed changes made in form of Before and After format as shown below.
CHANGE HISTORY
Here, User can find the changes made by Workflow submitted and approved by, and status, and the date and time of creation, and the change type as new or modification
We hope this blog has offered valuable insights and practical advice for your professional journey. If you found it beneficial, please consider sharing it with your network. We welcome your feedback and thoughts, so don’t hesitate to leave a comment or contact us directly. Thank you for reading, and we look forward to engaging with you further!
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