7 New Features & Updates Coming to Dynamics 365 Business Central
Here are seven features & improvements we’re excited about in the Dynamics 365 Business Central 2022 Release Wave 2.
If your organization is currently using Dynamics 365 Business Central ERP, keep an eye out for these 7 new features and improvements that will be released in the Microsoft Dynamics 2022 Release Wave 2 between October 2022 through March 2023.
For this release wave, Microsoft is planning to deliver updates to Dynamics 365 Business Central based on the most popular requests for improvements, as well as investing in improvements in reporting.
⚙️ Improved Bank Reconciliation & Reporting
With the new Business Central update, bank reconciliation is more efficient as the system now matches cheque entries from the bank against the information from the cheque ledger. There are also improvements to the matching rules, which makes the process much faster.
Some other improvements include:
The test report has changed, now the G/L Account Balance field shows the balance on the real G/L accounting at the statement ending balance date – this makes it easier to detect direct postings to the G/L account (as they often lead to errors in bank reconciliation).
The Bank Statement report now includes payments that were outstanding when the bank reconciliation was posted - creating a more accurate picture of the outstanding transactions at the end of the statement date.
⚙️ Renamed Account Schedules
With the new Business Central update, the account schedules feature has been renamed Financial Reporting so that it’s easier to understand the system more easily.
Some other improvements include:
The Financial Reporting link will open a list of financial reports and you can add user-defined reports to that list.
Each report will have its own name, a row definition, a column definition, and additional parameters that will be set when you open the Financial Report page (previously called Overview).
The objects that have been known as account schedules will now be called Row Definitions.
⚙️ Improved Item Tracking in Projects
In this release wave, the item tracking module will be extended to cover job planning lines. Users can now define lot, serial numbers, or package details for the job planning line and speed up the actual consumption at later stages. Any specified serial and lot numbers will only affect the consumption part of the process (transferring to job journal lines, inventory and warehouse pick process) and not transferred to sales invoices.
This feature is especially useful for companies who need to legally monitor an item’s transaction flow or want to monitor products with warranties or expiration dates for customer service reasons.
⚙️ Report Layout Selection on Request Page
In Business Central, users will now be able to choose which report layout they want to use on the Request page through a simple drop-down menu. This update gives your company access to multiple layouts, including Excel layouts, for the same report dataset. This makes it easier to use different report layouts for different purposes. For instance, you can now have a layout for a planning meeting, one for a board meeting, etc.
There’s another update available on the report request page that will improve the reporting functionality – users will now be able to run a report and send it directly to the report inbox. This allows them to continue working on other tasks while the report is running in the background.
⚙️ New Dedicated APIs for Financial Reports
Business Central users will now find it easier to create their own Excel-based financial reports, thanks to new dedicated APIs for financial reporting. These APIs make it easier to get data from Business Central in Excel, Power BI, or other reporting tools. These dedicated datasets stored within Business Central will enable users to get advanced analytics based on data from GL data, accounting periods, business units, customer, vendors and ledger entries, and more.
⚙️ Switching Companies Across Environments
If your organization has multiple companies across environments, your employees who need to view, edit, and compare data across companies will find it easier to get an overview of companies and quickly switch across environments. The app bar will let you quickly see which company and environment you’re working in, you’ll be able to activate the company switcher pane from anywhere in Business Central through the app bar or using the Ctrl+O keyboard shortcut. You’ll also be able to open the selected company in a new tab so you can compare data side by side, if required.
⚙️ Document Attachment Support for Power Apps & Power Automate
The integration between Business Central and the Power Platform has been improved and with this specific feature, users are able to join and access documents, media, and other data linked to business records. This offers a lot of opportunities for Power Apps and/or Power Automate to support additional scenarios where rich external data is entered into Business Central.
More Information About Business Central 2022 Release Wave 2
All these features and updates are set to release in October 2022, except for the document attachment support for Power Apps, which is scheduled for November 2022. The delivery date can be any day of the month.
There are numerous other improvements and updates we didn't mention here, but you can check out this article for the complete list of planned features for the Dynamics 365 Business Central 2022 Release Wave 2.
Got questions about Dynamics 365 Business Central functionality? Book a free consultation with a Business Central consultant at Kwixand Solutions. You can also subscribe to our Youtube Channel for helpful Dynamics 365 Business Central tutorials.