Heart of Dynamics 365 Finance : Main Accounts (Part – 2)

I hope you enjoyed my last blog on Main Account (Part-1). As we know Main account is key part of chart of accounts I have tried my best to provide the explanation on Key fields on Main Account form up to General Tab.

Now, Let’s understand the important filed and parameters of Main Account form which is pending since long time.

TAB : Legal entity overrides

Legal Entity Override

This is very important if we are using shared Chart of Accountant for multiple legal entities. This Functionality allow us to put different control for different legal entity for,

  1. Suspension of Account
  2. Default Dimensions
  3. Active Period of Account
  4. Allocation Terms
  5. Exchange rate type
  6. Reporting Exchange rate type

A & B. Legal Entity and It’s name

Here we can select specific Legal entity for control. In this example I have selected “USMF” legal entity.

C. Default Dimensions

Default Dimension on Main Account

Here we can defined Default dimensions for each main account specific to each legal entity. Here we can also provide fixed value which will be replaced by user value while posting the transactions in this account.

D. Suspended

By selecting “Yes” on this filed we can Suspend an account for specific legal entity.

This is normally required when we have any leger account in Shared COA for one specific legal entity which we do not want other legal entities to use. example : Bank Ledger, Loan Ledger.

(The same functionality is available in common form also – Main Account (Part-1))

E. Active From – Active to

This control function same as suspended but allow user to use this account for period start from “Active From” till period end on “Active to”. This is required when we created some temporary account or close exiting account after certain date. (The same functionality is available in common form also – Main Account (Part-1))

F. Allocation

Using this function we can allocate transaction posted in source dimension to destination dimension as showcase in below screen:

Allocation terms.

G. Exchange Rate type

In this filed we can provide legal entity specific exchange rate to do accounting currency conversation. This function will override the basic configuration in main account form.

H. Reporting currency exchange rate type.

In this filed we can provide legal entity specific exchange rate to do reporting currency conversation. This function will override the basic configuration in main account form.

TAB : Posting Validation

Posting validation

In this tab we have option to provide validation on following two:

A. User Validation

Here we can provide specific user or list of users who will be able to post transaction in this main account. This is useful feature when we want to restrict the posting to specific users for specific ledger.

B. Posting Validation

Here we can provide specific Posting Type or list of Posting Type which will be allowed to post transaction in this main account. This is useful feature when we want to restrict the posting for specific Posting type for specific ledger.

TAB : Financial Reporting

Currency Translation

Currency Translation

Using this feature we can provide which exchange rate type and Translation type will be used to translate Financial Reports.

We can use any of the following translation type:

  1. Weighted Average
  2. Average
  3. Current
  4. Transaction Date

TAB : Advance rule

Advance rule

This show us which advance rule is applied on selected main account.

This is not an end, this is just beginning. Let’s meet soon for rest of the interesting details of Dynamics 365 Finance. 

Hasta luego..

Thank you,

CA Gaurangkumar Jani

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