The electronic reporting power of Dynamics 365 Finance and Operations
With Microsoft Dynamics 365 for Finance and Operations (D365FO), new electronic reporting (ER) functionality is available for configuring formats for incoming and outgoing electronic documents in accordance with the legal requirements of various countries and regions. This improvement will reduce the need for customization and create practical opportunities to tie D365FO solutions to other key elements of the Microsoft Business Applications ecosystem.
Easier and faster setup of electronic reporting formats
An example of outgoing electronic documents is vendor payment files that are transferred to banks for making vendor payments.
In the past, users often faced an issue because the available out-of-the-box formats for these electronic documents did not exactly match the ones required by banks. As a result, adjustments to those formats were necessary, which regularly required the help of a developer. With the new ER engine, those days are gone because business users instead of developers can now configure those formats themselves without any coding, which saves a lot of time and money.
Easier maintenance of electronic reporting formats
Microsoft provides the available out of the box electronic document formats, which can be imported from Lifecycle Services (LCS) into the Finance and Operations instance. If formats are changed, for example because of the introduction of a new regulatory framework such as the SEPA payment format within the European Union, users can simply import the new or updated formats and directly use them in their systems. As a result, the maintenance of those formats became a lot easier with the introduction of ER.
Where is the power in electronic reporting?
The tools and capabilities mentioned so far are very powerful enhancements that help companies to save a lot of time and money. ...
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