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New Financial Dimension Sets Feature in D365
Introduction
Performance enhancement for general ledger dimension set balance calculation feature allows trial balance in inquiries and reports that use financial dimension sets to run and store data more efficiently and more quickly.
This feature uses process automation to keep the balance amounts up to date.
The back-end framework is quite different than the previous old Financial Dimension set.
When you turn on this feature user can find new framework and can view the status on the financial dimension set page.
When you turn on this feature, the process of creating new balances is initiated. This process might take some time based on the transactional data. Inquiries and reports that use dimension sets won’t be available until the processing is completed.
First, we need to enable Performance enhancement for general ledger dimension set balance calculation in feature management.
Financial dimension sets creation
- Go to General ledger >Chart of accounts > Dimensions > Financial dimension sets.
- Click New to create new financial dimension set.
- Give financial dimension set code and name.
- Select required dimensions from available financial dimensions and move to selected financial dimensions.
- Click on Save.
Enable balances
- Users need to click Enable balancesbutton, which initialize and start updating balances for those dimensions set which currently don’t have balances.
- Once Enable balance button is clicked, user can find the below message.
Balance status
- Balance status button is used to view the latest updated status of the financial dimension set.
- Here, user can find the status, last updated date and time of the dimension set for each legal entity by automatic batch process.
Rebuild balances
- Rebuild balancesbutton on the Balance status page used to re-create balances from the General ledger transactional data. It helps to ensure balances match the data in the General ledger.
- Click on Balance status page > rebuild balances.
- Select From date, To date and required current or all legal entities.
- Click
- Once click on Ok, rebuild balances will be scheduled for respective legal entity.
Disable balances
- Disable balances button is used to disable balance updating for a selected dimension set.
Delete a dimension set
- Deletebutton is used to delete dimension set.
Set up batch processing
- Go to System administration > Inquiries > Batch jobs.
- Search General ledger balance process batch job, this let the process automation batch to make the trial balance calculation of the ledger faster.
- Click on Recurrence and set the recurrence pattern in minutes and click OK and run the batch.
Check the Trail balances.
- Go to General ledger > Inquiries and reports > Trial balance.
- Let’s, view the Trail balance report as per below Screenshot:
- Now, we can see the balances of the main account for given parameters.
- Now, post new journal for the above-mentioned main account with some balance.
- Now go to trail balance and generate with above mentioned parameters and check the balance of the respective main account.
- We can notice the updated debit balance as per the journal transaction, which will update based on the batch process.
Conclusion
The new Financial Dimension Sets feature in Dynamics 365 simplifies financial reporting by allowing businesses to group and analyze financial data more efficiently. With improved flexibility, enhanced accuracy, and better reporting capabilities, organizations can gain deeper insights into their financial performance. This feature helps streamline decision-making and ensures compliance with accounting standards.
By leveraging Financial Dimension Sets, businesses can optimize financial management and drive strategic growth with real-time, data-driven insights. Start using this feature in D365 Finance to enhance your financial reporting today.
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 contact us directly. Thank you for reading, and we look forward to engaging with you further!
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