In a previous blog post, I covered the new ‘Dimension Corrections’ feature in the Microsoft Dynamics 365 Business Central 2021 wave 1 release. Here are a few other things related to dimensions in the new release:
Dimension Posting Controls-
With this feature users can have more control over settings for default dimensions for any type of transaction. It now allows you to pick multiple valid codes for a particular transaction.
For example, you’ve a customer region or customer type and they belong to multiple dimensions. In the screenshot below, you have a dimension code called Market and you want it to be only a certain value. IN201111A is not allowed and only these two locations – Anaheim and Orange County – are allowed for this customer. You can allow which dimension can be posted here. Before it was just a single choice and now you have got multiple options.
You can do that for Chart of Accounts too and can control what values are to be posted. It makes data entry a little simpler and helps control what’s possible and what you expect to see in your financial statements.
Recurring Entries Dimension Allocations-
With this, you can now do allocations by dimensions. You can create a sort of recurring journal entry that takes the balance for a certain account by a certain dimension and allocates it to other dimensions.
You now have Recurring General Journals which is a separate screen with different templates. Traditionally, this screen is used for reversing accruals or things like that where you would post a recurring journal entry every month. Now they have added 2 new methods – BD Balance by Dimension and RBD Reversing Balance by Dimension. What this does is allows you to take a certain account and then create allocations within it.
For example, every month you want the rent expense to be allocated to two departments. You can set it up in the allocations to be split up by either quantity/a headcount or just a flat percent, and then within each line you can assign the dimension.
You can even create a dimension filter which basically says allocate it by not just the total amount in that account but by each specific Subtotal of a different dimension. If you have allocations that you need by a single dimension or matrix by multiple dimensions, this is the way to do it.
Dimension Values Now Shown on the Entries Pages-
One other cool thing from a reporting standpoint is that all the dimensions now are available on most of the entry screens, including the Odata reports.
– Jason has over 20 years of financial leadership experience in high growth technology companies. He is a Microsoft Certified Dynamics 365 Business Central Functional Consultant Associate. See Credential.