How to configure default description of an automated transaction?

Hi Folks,

In this post I am going to show you the configuration which will help you to update description automatically on all ledger and transaction form.

Normally in every business Finance team want’s to know the reason behind every financial entry and we call it Narration in financial language. Narration is very important part of auditing as well as identification /understanding of transaction or reason of transaction.

So that was biff details regarding finance requirement, now let’s discuss Power of Microsoft Dynamics 365 Finance to achieve this requirement.

As we know that Microsoft Dynamics 365 Finance and Operations application help us to do lot of automation which will save employees time and they can focus of more important decision making activity where we need brainstorming.

Same way for detailed Financial auditing we need detailed Narration as pa part of financial transaction. In MSD365Finance in case of posting Journal entries such as General Journal or Vendor / Free text Invoice or Payment Journal user has option to provide description (Narration) on each line which will help them to identity the nature and purpose transaction.

But, in case of automated financial transaction such as Product Receipt, Packing Slip, Sales Invoice or Purchase Invoice (etc. – A long List) finance team does not have any description. Ultimately while doing checking or auditing they need to go from Voucher to transaction form. i.e. Vendor Invoice posted from Purchase order, system by default provide “Vendor Invoice” on Voucher as well as Vendor Transaction description. to check exact description they have check Invoice Journal Form (may need to add column named = Invoice Description).

In this kind of scenarios we have solution in Dynamics 365 Finance and Operations, it’s called “Default Description”.

Now you will have multiple question such as, where this menu item is located? how can i configure? Can I have multiple option based on condition? so, let’s start.

Firstly let me show you where you will find this configuration menu item:

Go to > Organization Administration > Setup > Default descriptions

Now it’s time to do configuration and Transaction Process:

Step : 1 Configure of default description :

In this configuration we are updating description of Invoice description to Vendor Transaction as well as Ledger description.

Once you have all configuration in system you can start Invoice process:

Let’s see the how it’s working:

Step : 2 Process Purchase order Invoice and provide “Invoice Description” in in Vendor Invoice.

Step : 3 Check / verify the output on Invoice Journal – Standard

Step : 4 Check / verify the output on Vendor Transactions Form

Step : 5 Check / verify the output on Ledger Transaction (Voucher)

So, as you can see we have updated description at one place and it’s showing in all require fields which will help Finance team to verify directly from voucher / ledger level.

You can view video of the process as below:

I hope you liked this blog, please like or comment if you want more blogs like this.

Thank you.