To help you get going quickly, Dynamics 365 for Financials includes standard configurations for most financial processes. If you need to change the configurations to suit your business, go right ahead. For example, from the Home page you can use an assisted setup guide to set up sales tax rate for your location.
However, there are some things you need to set up yourself. For example, if you want to use dimensions as a basis for business intelligence.
The following table describes a sequence of tasks, with links to the topics that describe them.
|Choose how you pay your vendors.||Defining Payment Methods|
|Specify the posting groups that map entities like customers, vendors, items, resources, and sales and purchase documents to general ledger accounts.||Setting Up Posting Groups|
|Set up a tolerance by which the system closes an invoice even though the payment, including any discount, does not fully cover the amount on the invoice.||How to: Work with Payment Tolerances and Payment Discount Tolerances|
|Set up fiscal periods.||How to: Open a New Fiscal Year|
|Define how you report value-added tax amounts that you have collected for sales to the tax authorities.||How To: Report VAT to Tax Authorities|
|Set your Sales and Purchases features up to handle payments in foreign currencies.||How to: Enable Application of Ledger Entries in Different Currencies|
|Add new accounts to the existing chart of accounts.||Setting Up the Chart of Accounts|
|Set up business intelligence (BI) charts to analyze cash flow.||Setting Up Cash Flow Analysis|
|Enable invoicing of a customer who is not set up in the system.||How to: Set Up Cash Customers|
|Set up Intrastat reporting, and submit the report to an authority||How to: Set Up and Report Intrastat|