Standard Assisted Setup Review — Additional Configurations
Yesterday I showed you several standard configurations that are set up automatically when using the standard assisted setup tools to create a New Company in Dynamics 365 for Financials. Today’s blog covers even more configurations that are set up automatically.
Posting Groups
Posting Groups are used by Dynamics 365 for Financials to help determine which G/L Accounts should be used for General Ledger Accounting when various transactions are Posted.
As a simple example, consider recording a sale to a Customer. When you record a sale to a Customer, in many cases Dynamics 365 needs to know which G/L Account to use to record a receivable. The system determines this by looking at the Customer Posting Group assigned to the Customer. Customer Posting Groups have a Receivables Account assigned to them, and with this information Dynamics 365 knows which G/L Account should be used for recording the receivable.
1. General Posting Groups and General Posting Setups:
2. Bank Account Posting Groups:
3. Customer Posting Groups:
4. Vendor Posting Groups:
5. FA Posting Groups (i.e., Fixed Asset Posting Groups):
6. Inventory Posting Groups and Inventory Posting Setups:
Bank Accounts
The Bank Account was set up using the various inputs specified during the initial setup of the Company. Note that if you want to use Dynamics 365 for Financials to print checks, you’ll need to manually input a value into the Last Check No. field. Otherwise you will get an error when you try to print the checks.
Data Templates
Data Templates are used to speed up the setup of master records. To find the following page, search for “Set Up Customer/Vendor/Item Templates”:
Journals
Journals are the pages you’ll use to record most of your transactions in Dynamics 365 for Financials.
