Automating Finance Tasks using Journals in Microsoft Dynamics 365 Business Central

Artificial intelligence (AI) and machine learning (ML) are coming to AP, AR, and bank reconciliation automation. We see and hear about these trends everywhere and on nearly a daily basis. But did you know that Microsoft Dynamics 365 Business Central (BC) has had quite simple but powerful automation for some standard finance tasks for years? 

Let’s look at the existing use cases for posting, adjusting, and other regular journal entries to understand how much they can really automate today.

BC has a total of eight financial journal types that can be used to post general ledger and related sub-ledger entries. And if you have been using the General Journal to post all of your adjustment and monthly entries, you are not using the built-in functionality designed to help you work more efficiently. 

With a few changes to how you use journals, you may just find yourself with time available to work on one of those finance projects that’s been on your “to do” list forever!

What automation?

I really like this simple and concise definition of automation: “Automation is the application of technology, programs, robotics and processes to achieve outcomes with minimal human input.” (“What Is Automation? | IBM”)

From a BC perspective, automation can be seen in scenarios like: 

• Automatically inserting data into one field based on a value entered into another field or at the click of an action from a page.
• Automatic messaging, alerts and warnings on preview or posting. 
• A process that requires no human intervention such as downloading exchange rates, 
• Or one with minimal intervention such as creating an EFT file that needs to be placed on a bank portal. 

When applied properly, automation enhances efficiency, improves accuracy, and provides a more consistent experience to the user with less input than otherwise needed if done manually. 

So how does automation apply to journal entries in BC? Let’s break it down into its components to make it easier to understand.

The different financial journal types

BC has eight unique financial journals. These journal types are the source of some of the unique “automation” capabilities available to improve standard tasks in accounting. 

1. General Journal
2. Recurring General Journal
3. Sales Journal
4. Purchase Journal
5. Cash Receipt Journal
6. Payment Journal
7. Fixed Asset G/L Journal
8. Project G/L Journal (formerly Job G/L Journal)

Each journal is the same, yet unique. Let’s start with what is unique.

Worksheet pages

Each of the financial journals listed here has its own unique worksheet page. A page decides what we see, how we see it, and how we use it. From a user’s perspective, these pages are the source of the automation unique to each specific journal that enhances the user experience. Now let’s look at what is the same.

Journal line data

What is NOT unique to these journals is the table used for storing the data prior to posting. All of the listed journals use Gen. Journal Line (Table 81.) To see this, use Inspect Pages and Data (CTRL+ALT+F1) to see the page and table used for each. While the pages vary by journal, the table used stays the same for all. The data prior to posting is in Gen. Journal Line (Table 81.)

Why different journals?

If all the listed journals use the same table and the General Journal can post adjustments, sales, and purchase transactions, why bother to use different journals?