Dynamics 365 for Financials includes a standard configuration of most financial processes, but you can change the configuration to suit your business. For more information, see Setting Up Finance.

The default configuration includes a chart of accounts and standard posting groups that make the process of assigning default general ledger posting accounts to customers, vendors, and items more efficient.

The following table describes a sequence of tasks, with links to the topics that describe them.

To See
Apply incoming payments, reconcile bank accounts during payment application, and collect outstanding balances. Managing Receivables
Make payments, apply outgoing payments, and work with checks. Managing Payables
Reconcile bank accounts and transfer funds between bank accounts. Managing Bank Accounts
Understand the general ledger and the chart of accounts. Understanding the General Ledger and the COA
Add dimensions for richer business intelligence. Working with Dimensions
Create budgets to forecast different financial activities and assign dimensions for business intelligence purposes. How to: Create Budgets
Record income or expenses directly in the general ledger without posting dedicated business documents. How to: Post Transactions Directly to the General Ledger
Post reversing entries to undo transactions that you have posted in the general journal. How to: Reverse Journal Posting
Assign extra costs, such as freight and physical handling that you incur during trade, to the involved items so that the cost is reflected in inventory valuation. How to: Use Item Charges to Account for Additional Trade Costs
Recognise revenues and expenses in other periods than when the transactions were posted. How to: Defer Revenues and Expenses
Import salary transactions from your payroll provider into the general ledger. How to: Import Payroll Transactions
Monitor the flow of cash in and out of your business. Analyzing Cash Flows in Your Company
Prepare to close a fiscal year or period. Closing Years and Periods
US: Meet the IRS requirement to submit various versions of the 1099 form for vendor payments. Reporting 1099 Transactions in the US
US and Canada: Understand how to set up and use US and Canadian sales tax functionality. Reporting Sales Tax in the US and Canada
Canada: Understand how to set up and use Canadian sales tax functionality for goods and services. Reporting Sales Tax and Goods/Services Tax in Canada
Canada: Set up and use Canadian functionality for reporting General Index of Financial Information. How to: Work with GIFI Codes in Canada
EU: Prepare a report that lists VAT from sales, and submit the report to a tax authority. How to: Report VAT to Tax Authorities

See Also

Setting Up Finance
Closing Fiscal Periods
Managing Projects
Importing from Other Finance Systems
Working with General Journals
Working with Financials

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