Did you know that Dynamics 365 Finance is advancing its leadership in autonomous finance more than ever before, harnessing AI to optimise financial processes. With the latest Microsoft 2024 release wave 2 for Dynamics 365 Finance updates, this leading finance solution emphasises in-app Copilot capabilities, tailored user experiences, expanded country coverage, electronic invoicing, performance analytics, and autonomous reconciliation.
Additionally, Microsoft Copilot for Finance enhances data reconciliation in Excel with assisted sanitisation routines, improving data preparation and extending variance analysis with added data sources. Collaboration on findings with stakeholders is also a key focus. Moreover, Teams integration will streamline collections calls with suggested scripts and automated recording of action items in the financial system, driving efficiency and fostering seamless financial operations.
Other key Dynamics 365 Finance updates from the Microsoft 2024 second release include:
Unlock Actionable Insights with Microsoft 2024 Release Wave 2 for Dynamics 365 Finance
Experience the power of Business Performance Analytics with this latest Dynamics 365 Finance 2024 second release update. Transform raw data into actionable insights to support strategic decision-making and operational efficiency. With advanced reporting, analytics, and seamless integration with tools like Power BI and Excel, this enhancement empowers your organisation to track trends, identify growth opportunities, and achieve continuous improvement.
Tailored data models and curated pre-built reports provide immediate insights, covering crucial business areas. Dimensional security ensures data integrity, while the Extend to Fabric feature offers flexibility by integrating proprietary datasets, enabling personalised analytics for better control and informed decision-making.
Enhance Transaction Accuracy with Copilot-Assisted Financial Tags
The Microsoft 2024 release wave 2 for Dynamics 365 Finance introduces Copilot-assisted financial tags, allowing up to 20 user-defined fields on accounting entries. This feature empowers accounting managers to create custom rules, reducing manual errors by defaulting financial tags. By leveraging natural language, an expression builder, or direct technical entry, rules can be tailored for various transaction types like general journals or invoices.
Before activation, rules can be simulated against posted transactions for validation. This automated approach simplifies data entry, enhances accuracy, and saves time, ensuring transactional data is captured precisely, improving financial tracking and decision-making.
Ensure Financial Accuracy with Advanced Bank Reconciliation
Effortlessly reconcile financial records with pinpoint accuracy using updated advanced bank reconciliation in Dynamics 365 Finance 2024 release wave 2. This feature dramatically reduces manual work for cash management clerks. By automating the reconciliation process, it saves valuable time and ensures precise financial reporting, enhancing overall efficiency.
The redesigned report covers comprehensive details, including reconciled and unreconciled transactions, balances, and amounts for both company and bank statements. Additionally, a report snapshot feature captures data when marking reconciliations as complete, enabling easy access to past reconciliations. This enhancement revolutionises financial management, making reconciliation faster and more reliable.
Streamline Bank Account Management with Enhanced Lifecycle Controls
Imagine having complete control over your bank account management processes. The Microsoft 2024 release wave 2 for Dynamics 365 Finance enhances advanced bank account lifecycle management feature, ensuring streamlined operations and enhanced security. This feature offers approval workflows for bank account activations, modifications, and deactivations, reducing risks and ensuring compliance.
Configurable protected fields allow you to decide when approvals are needed for modifications, while an approver can review proposed changes before implementation. It also tracks bank account change history for auditing purposes and manages additional signer data, providing better visibility, control, and efficiency in managing your organisation’s bank accounts.
Boost Efficiency with Enhanced Bank Reconciliation Matching
Enhance your financial management with advanced bank reconciliation feature in Dynamics 365 Finance from this year’s second release wave. With this feature, matching rules are enhanced to include automatic posting of vouchers, customer payment journals, and vendor payment journals.
Additionally, open customer invoices can be automatically settled with bank statement lines, saving time and minimising errors. This automation streamlines the reconciliation process, allowing cash management clerks to work more efficiently, ensuring accurate financial reporting, and providing greater confidence in your business’s financial management.
Streamline Bank Reconciliation with Automated Bridging in Microsoft 2024 Release Wave 2 for Dynamics 365 Finance
Say goodbye to manual transaction clearing with Microsoft 2024 second release for Dynamics 365 Finance. It introduces automation that eliminates manual processing of bridged transactions in advanced bank reconciliation. Traditionally, cash clerks manually clear transactions in the general ledger—a time-consuming task. Now, this feature automates the process, instantly posting cleared transactions once payment clears the bank statement.
It allows you to define bridging posting accounts per bank account, select accounts without generating transactions, and seamlessly clear entries during reconciliation. This automation boosts accuracy, saves time, and enhances your financial management workflow.
Get batch log summarisation of sales invoice copilot
Experience effortless batch log management with enhanced AI-driven summaries in Dynamics 365 Finance! With this Microsoft 2024 release wave 2 feature update, users now gain a clear, summarised view of outstanding tasks and errors, instead of struggling with hard-to-read logs. This streamlined process allows them to pinpoint issues like failed transactions and their causes without the need for customer support.
With improved filtering and easy-to-read summaries, finance users can quickly address questions during crucial operations, boosting efficiency and productivity. This feature empowers businesses to resolve issues independently, saving time and enhancing overall operational performance in Dynamics 365 Finance.
Correct receipt matching error in vendor invoices with Copilot
The Microsoft 2024 release wave 2 for Dynamics 365 Finance enables Copilot-assisted exception handling for vendor invoices, significantly reducing manual efforts for AP clerks. By swiftly identifying and rectifying errors—such as receipt matching, prepayment application, workflow submission, accounting distributions, duplicate invoices, and invalid bank accounts—Copilot streamlines the process.
This enhanced automation not only reduces operational costs but also frees finance teams to focus on more strategic, value-driven tasks. By eliminating repetitive tasks, Copilot enhances efficiency and productivity, allowing finance professionals to dedicate their time to high-impact activities within Dynamics 365 Finance.
Use Copilot to handle vendor invoice exceptions
This Dynamics 365 Finance update from the 2024 second release enhances the vendor invoice automation process with Copilot integration, reducing time-consuming navigation for AP clerks. Previously, handling exceptions meant repeatedly switching between invoice lists and detailed pages, slowing down corrections. Now, Copilot is embedded in the pending vendor invoice list, allowing clerks to swiftly select, analyse, and correct errors in a single location.
This seamless experience streamlines receipt matching issues, such as unlogged receipts or goods in transit. Future releases will extend Copilot’s capabilities, addressing failed prepayments and workflow submission errors, significantly boosting efficiency in managing vendor invoices.
Maximise D365 Finance Feature Benefits with Microsoft 2024 Release Wave 2 Updates
Microsoft 2024 Release Wave 2 for Dynamics 365 Finance brings game-changing updates that can elevate your operations—but navigating these changes can be complex. Don’t let the confusion slow you down. Dogma’s experts are ready to guide you, ensuring these updates translate into real business benefits. We’ll help your team harness the full potential of D365 Finance, boosting productivity and efficiency without the hassle. Trust us to lead your transition seamlessly, so you can concentrate on what matters most—accelerating your business growth. Contact us today to unlock the power of your Dynamics 365 Finance investment!
