Financial Tags for Microsoft Dynamics 365
In the latest version of Microsoft Dynamics 365 you will find a new, interesting function – Financial Tags, thanks to which financial management in the system will become even easier!
Financial Tags is a tool which allows you to categorize and track transactions in the system and quickly filter and display them by category, which facilitates the analysis of expenses and making financial decisions. Compared to the existing Financial Dimensions, the new feature offers a more intuitive and flexible way to manage your finances. The thing about financial dimensions is that each newly added one appears on all forms with financial dimensions, even if we need it only for one ledger account. The extensive number of dimensions has its drawbacks – it not only distorts and unnecessarily expands the view, but is also burdensome for employees who have to wonder how to properly complete each of them. Additionally, adding another dimension to the set extends the year-end closing process. Financial tags, unlike Financial Dimensions, do not require a strictly defined structure of financial dimensions and do not display everywhere. That gives users more freedom in categorizing expenses and is useful in cases where we do not need a tag (analytics) for transactions in the entire system, but only to extend the reporting capabilities of accounting entries. And one more thing – they can be changed even after the transaction has been posted.Learn more about the possibilities of this function and Dynamics 365 – Contact – Arcus SI
And if you still work on some older versions of Dynamics – it’s time to think about migration! Ask us how to safely switch to the latest version – Microsoft Dynamics 365 – Arcus SI.
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