Dynamics 365 Finance – 2020 release Wave 2 features for Accounts Payable

Microsoft has announced some major productivity improvements in the Accounts Payable space for Dynamics 365 Finance. Below are the features that I’m looking forward to and my take the top 3 features from this list:

  1. Match product receipts to invoice lines with 3-way match policy: As an usual business scenario or if I can say a practice, the chances of receiving an Invoice is higher before receiving the goods itself and most of the times AP processors would expect these invoices to be matched to the receipts automatically and would need a customization to accommodate this requirement. However, with this new feature, AP users can have the invoices created and these invoices can be matched automatically to a receipt, for a 3-way match line. More details about this feature here: https://docs.microsoft.com/en-us/dynamics365-release-plan/2020wave2/finance-operations/dynamics365-finance/vendor-invoice-automation-match-product-receipts-invoice-lines-that-have-three-way-matching-policy
  2. Prevalidate vendor invoice posting: It is interesting that Microsoft is extending this to Vendors Invoice that are related to Purchase orders as well. This will allow AP Processors to validate before the posting and resolve any issues that are present. In fact, this would also provide opportunity or a hook for developers to use this feature for pre-validations for integration or vendor invoice automations that may be developed. More details about this feature here: https://docs.microsoft.com/en-us/dynamics365-release-plan/2020wave2/finance-operations/dynamics365-finance/vendor-invoice-automation-pre-validate-vendor-invoice-posting
  3. Tracking the invoice received date: Majority of the business rely on the vendor aging to determine how prompt they are in paying their vendors/suppliers, which is a crucial measure for a trustable relation. However, in this age, it is also crucial for business to track the progress of an invoice coming in and eventually turning into liability. To handle this, invoice received date as field is being included to serve as starting point of tracking. For invoices that are automated or imported, this can be included in the schema and for manually entered invoices, this can be specified while keying in the invoice. Businesses can then use advanced analytics like Power BI to track the trends the progress of the invoices from the point of arriving to the point of payment. More details about this feature here: https://docs.microsoft.com/en-us/dynamics365-release-plan/2020wave2/finance-operations/dynamics365-finance/vendor-invoice-automation-tracking-invoice-received-date

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