New Dynamics 365 for Financials Updates-May Edition

As some members of the Microsoft ecosystem might be aware, Microsoft has been utilizing an iterative approach for the release of updates and feature upgrades for Dynamics 365 for Financials. This week marks the release of the May update, and it is full of useful features for your business. If you are not familiar with the previous releases, please see our previous posts here.

Special Note: This update marks the launch of the UK version of Dynamics 365 for Financials.

Instructional Videos

One of the best new “features” for the May release is the addition of new “How to” videos that guide the end user and partner alike through the setup of often needed setup tasks in Dynamics 365 for Financials. These videos have been added to the growing range of videos that will demonstrate the necessary setup steps for some of the core functionality areas. These videos are intended to get the average end user more comfortable with the systems functionality.

These new videos cover topics like: Set Up Sales Tax Calculations, Approval Workflows, Data Integrations between CRM and Financials and Year-End Closing. All of the currently available instructional videos can be found in the Product Videos activity, found on the Business Manager Role Center.

Bill of Materials

May has seen the addition of Bill of Materials (capabilities in Dynamics 365 for Financials). This feature grants users the ability to define the component structures of items, which enables businesses to roll up the costs and prices of component items into the parent item. This works in reverse as well, by allowing parent items to be broken down into component items on purchase and sales invoices. By allowing businesses to break down the costs of acquiring items, one can accurately price parent items. This functionality allows for a multi layered approach as well, meaning that parent items can be sub-assemblies for other, more complex items. This multilayered approach can be visualized in tree structures as well.

Direct General Ledger Posting via Documents

Users can now directly post add-on fees or services to sales or purchase documents on the document lines. This will prompt the user to select the correct General Ledger Account to which the charges will post.

Task Management

The new features in Task Management allow for management to have more control over what users are involved each of the tasks that have been created in campaigns. Sales Persons can be assigned to specific tasks, and management will be able to track their progress in the activities. More control means that campaigns can be more impactful to your business!

Synchronization of Opportunities from Dynamics 365 for Sales

Just like NAV 2016 and 2017 afterwards, Dynamics 365 for Financials is developing a more robust integration of CRM and ERP systems. With this iteration of the integration, Dynamics 365 for Financials and Dynamics for Sales will be able to integrate and synchronize opportunities between the two systems. This functionality should allow for less manual processes which should help to increase time spent working on your open opportunities.


REST API is a tool that Microsoft has developed for Dynamics 365 for Financials that helps partners, service providers and developers to integrate into Dynamics 365 for Financials. This enables these developers to develop extensions, customize user interfaces or add business logic to better fit the needs of individual businesses. The REST API grants access to Company Information, customer lists, Vendor Lists, Sales Orders, Sales Invoices, and Account Information.

VAT Registration Number Validation (UK Only)

As described above in the “Special Note”, this release launches the UK version of Dynamics 365 for Financials. This release also includes the VAT Registration Number Validation feature, which is for the UK version exclusively. This feature allows businesses to validate the VAT registration numbers of Customers, Vendors and other contacts as well as automatically retrieving their registered addresses and contact names.