Christmas in April for Dynamics 365 Business Central users: Improvements to financial dimensions

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With each Dynamics 365 Business Central Wave release, it’s like waking up Christmas morning to find what presents you got, only these are in the form of new and improved features. You know the gifts I mean, the ones you can’t wait to start using immediately and show off to others. Other features are like that pack of white socks your mom bought you—useful and practical, but not as exciting.

If you haven’t already taken a peek at the 2021 Wave 1 release features and notes, check it out here.  The list is divided into different areas: Administration, Application, Power Platform, etc. There is a little something for everyone!  It only takes a few minutes to look around and see what cool things you might find. Microsoft has given us some pretty fantastic presents that are sure to make your life easier, and I am excited to show a couple of these off to you in this article. 

Two of these new features relate to more control and flexibility around the use of dimensions.  You know how powerful dimensions can be when it comes to reporting and analysis, but the pain comes when an incorrect dimension has been posted with a transaction.  We now have some new tools to help relieve this pain.  

1. More Control over Settings for Default Dimensions

What Microsoft says:

“Instead of allowing users to pick just any dimension value, when the dimension Value Posting is set to Code Mandatory, using Allowed Dimension Values in the Default Dimensions page, users can now pick from a predefined list of allowed dimension values that controlling, finance, or accounting departments choose as valid for particular master data, documents, or transaction posting in Business Central.”

What this means for you

If you are in control of creating and maintaining dimensions for your company, you can define one or more dimension values that you want to allow the user entering the transaction to select from on the master data.  If you are the one entering transactions, you will be restricted to selecting from this predefined list of values. 

Why Controllers are so happy

With this enhancement, more control can be exercised at the initial entry of transactions into the system. This means there will be more consistency amongst transactions and less errors, which means less work for you at month-end.  Taking 10-20 minutes to set up the Allowed Values on master data can help save an hour or more at every month-end and the headaches that result when reports don’t provide you with the meaningful data you need from your system.

Microsoft Dynamics 365 initial dimension entryImage taken from the Microsoft release notes

2. Dimension Corrections on G/L Entries

What Microsoft says

“On the General Ledger Entries page, the Correct Dimensions action lets you correct dimensions on posted entries by editing the dimension value, adding new dimensions, or removing them. Administrators can also lock dimensions for corrections, specify that corrections must respect closed accounting periods, and view a change log for a given G/L entry in order to revert the entry to its original value.”

What this means for you