Configure and use cash and bank management, and sales tax in Dynamics 365 Finance

Intermediate
Functional Consultant
Business User
Dynamics 365
Finance

You can use the Cash and bank management module in Dynamics 365 Finance to maintain an organization's bank accounts and the financial instruments that are associated with those bank accounts. All businesses must collect and pay taxes to various tax authorities. In this learning path you will learn how to configure and use these areas of Dynamics 365 Finance.

Prerequisites

  • Basic understanding of finance and accounting processes.
  • The ability to use Finance for basic processing.
  • Understand how to set up general ledger in Finance.

Modules in this learning path

Important

Dynamics 365 for Finance and Operations is now being licensed as Dynamics 365 Finance and Dynamics 365 Supply Chain Management. For more information about these licensing changes, see Dynamics 365 Licensing Update.

With Cash and bank management in Dynamics 365 Finance, you can record and reconcile financial transactions against the bank statement and identify bank transaction types such as deposits and non-sufficient funds (NSF).

Important

Dynamics 365 for Finance and Operations is now being licensed as Dynamics 365 Finance and Dynamics 365 Supply Chain Management. For more information about these licensing changes, see Dynamics 365 Licensing Update.

You can use the Cash and bank management module in Dynamics 365 Finance to maintain an organization's bank accounts and the financial instruments that are associated with those bank accounts. These instruments include deposit slips, checks, bills of exchange, and promissory notes. You can also reconcile bank statements and print bank data on standard reports.

Important

Dynamics 365 for Finance and Operations is now being licensed as Dynamics 365 Finance and Dynamics 365 Supply Chain Management. For more information about these licensing changes, see Dynamics 365 Licensing Update.

Letters of credit are bank documents that are commonly used for the purchase and sale of goods across international borders. A letter of guarantee is an agreement by a bank (the guarantor) to pay a set amount of money to some person (the beneficiary) if a bank customer (the principal) defaults on a payment or an obligation to the beneficiary.

Important

Dynamics 365 for Finance and Operations is now being licensed as Dynamics 365 Finance and Dynamics 365 Supply Chain Management. For more information about these licensing changes, see Dynamics 365 Licensing Update.

Postdated checks are checks that are issued to make and receive payments on a future date. Therefore, the check can't be cashed until the specified date. Dynamics 365 Finance supports the full management cycle for postdated checks in both accounts receivable and accounts payable.

Important

Dynamics 365 for Finance and Operations is now being licensed as Dynamics 365 Finance and Dynamics 365 Supply Chain Management. For more information about these licensing changes, see Dynamics 365 Licensing Update.

All businesses must collect and pay taxes to various tax authorities. Different countries or regions have different rules and rates. In some countries or regions, the rules differ between states, counties, or cities. Therefore, the Tax module of Dynamics 365 for Finance and Operations is very comprehensive.