The Microsoft Dynamics 365 Finance release of version CY25Q1: 10.0.42 is now generally available to all customers, marking the first of two updates in Wave 2 of the 2024 Release Plan. This release sets the stage for the upcoming major update later in the wave, which will deliver even more transformative capabilities. In addition, this update places a strong emphasis on advancing financial management capabilities with targeted improvements to existing functionality and a focus on elevating the end-user experience.
While not classified as a major release, it introduces several highly anticipated features and functionalities, now available in either Private or Public Preview. In this article, we’ll highlight new standout features of this release and preview key enhancements on the horizon that may drive significant value for your organization.
Highlights of the 2024 Release Wave 2 Updates
Finance
Bank Reconciliation: Several new features were released, including the introduction of default descriptions for automatic payment journal and voucher postings, streamlining record-keeping and accuracy. It also provides prepayment and posting profile options for customer and vendor payment journals generated from the bank reconciliation worksheet. In addition, it offers users greater flexibility by allowing them to mark or unmark all bank transactions as cleared during the reconciliation process, improving efficiency and control over financial workflows.
Payment Schedule: Capabilities and flexibility have been enhanced by providing users with the ability to merge open invoices that were originally split by a payment schedule.
Fixed Asset Charges: Automates the capitalization of acquisition charges, such as shipping fees, taxes, or installation costs, incurred during the acquisition of fixed assets via purchase orders. By eliminating manual tracking, users no longer need to be manually added to a fixed asset as an acquisition adjustment.
Partial Ledger Settlements: This new feature was introduced in this release, providing much needed functionality to ledger settlements. Now, when a debit is partially settled with a credit, or vice versa, it is marked as Partially settled, with remaining amounts indicated. This functionality enables greater flexibility by allowing a single debit to be settled with multiple credits or a single credit with multiple debits, enhancing reconciliation accuracy and financial transparency.
Accounting Source Explorer: Once a trusted tool, the Accounting Source Explorer learned (or relearned) a new trick. When it was updated in 2023 to replace the Parameter option with Advanced Filtering, its usability faced some challenges. However, with the latest enhancement, this “old dog” is back. Users can now select predefined date intervals and enjoy the much-needed flexibility of choosing date ranges using intuitive From and To fields. This upgrade not only brings back ease of use, but also adds a fresh layer of functionality.
Supply Chain
Multifaceted Pricing Strategies: The unified pricing management module enables businesses to define pricing rules, segment pricing by market, and manage complex pricing structures while adapting to market changes. This feature supports flexible pricing strategies, including trade agreements, promotions, and rebates, and integrates with application programming interfaces (APIs) for seamless business-to-business (B2B) and business-to-consumer (B2C) transactions.
Add Knowledge to Generative Help & Guidance With Copilot: Enhances existing Copilot capabilities to provide accurate, context-aware support by incorporating organization-specific data, processes, and expertise. This feature allows Copilot to deliver tailored suggestions and solutions that align with your business’s unique workflows and requirements. For example, you can integrate internal policies, financial models, or industry-specific regulations into Copilot’s knowledge base, enabling it to offer more relevant and actionable guidance.
Include Invoiced & Delivered Orders in Supply & Demand Forecast Reduction: Enhances Planning Optimization by incorporating invoiced demand (picked, packed, and invoiced orders) and delivered supplies (registered, received, and delivered receipts) into supply and demand forecast reduction to help ensure more accurate and dynamic forecasting aligned with actual business activities.
Commerce
Check Out Faster With Optimized Payment Flows: Augments the point-of-sale (POS) payment experience by introducing consistent workflows across payment types, reducing friction and speeding up checkout to shorten wait times for customers. Key updates include a unified payment interface (UPI), streamlined workflows for complex payment methods, direct payment terminal integration, and smart denominations that predict cash amounts based on available currency. These improvements apply to all POS platforms, including Windows, Android, iOS, and web, enabling a smoother and more intuitive checkout process.
Support for New Wallet Payment Methods: Customers are embracing digital wallets for their convenience and security. With the out-of-the-box Adyen payment connector, Commerce supports Alipay, WeChat Pay, and Affirm, enabling customers to pay seamlessly by scanning a QR code on PIN pad terminals. This feature not only enhances the checkout experience, but it also keeps your business ahead of the curve with modern, secure payment options.
Purge Commerce Transactions: To help businesses reduce storage costs and improve system performance, customers can now purge old transactional data, empowering organizations to manage their data more efficiently.
How Forvis Mazars Can Help
Enlisting the help of a certified Microsoft partner can help your organization leverage the latest Dynamics 365 Finance updates to the fullest. Our technology consultants offer immense value to enterprises looking to streamline their financial operations and improve the user experience. Connect with us today to learn more about how our Business Technology Services team can help seamlessly integrate and utilize these features to drive success in your organization.