Enhancing and Streamlining Financial Reporting with Dynamics 365 Finance

Effective financial reporting is crucial for finance professionals to ensure accuracy, compliance, and strategic decision-making. Financial reports are the backbone of organizational transparency, offering insights that drive timely business decisions. However, managing financial reporting across multiple environments can be a daunting task, often leading to inconsistencies and inefficiencies.

To address these challenges, the latest update to Dynamics 365 Finance introduces the financial reporting add-in, a powerful tool designed to streamline financial reporting processes, enhance data accuracy, and provide comprehensive business insights. With this change, Financial reporting is no longer deployed by default in all environments. 

Comprehensive Yet Configurable and Easy-to-Use Financial Reporting 

The financial reporting add-in for Dynamics 365 Finance offers a robust suite of functionalities and capabilities that make it both powerful and user-friendly: 

• Flexible Report Design: Create custom financial statements tailored to your organization’s needs using a drag-and-drop interface. 

• Real-Time Data Integration: Access real-time financial data, ensuring that reports reflect the latest financial position. 

• Collaboration and Sharing: Easily share reports and collaborate with team members, facilitating efficient communication and decision-making. 

• Secure Access: Ensure sensitive financial information protection by maintaining data security with role-based access controls.

• Get Started Quickly with 22 Reporting Templates: Generate standard financial reports efficiently by using a variety of pre-built templates. This saves time and ensures consistency across your financial data.

These features provide finance professionals with the tools they need to generate accurate and insightful financial reports without the complexity often associated with financial reporting systems. 

Consistent and Efficient Financial Reporting Across Environments 

Financial reporting often involves juggling multiple environments, each with unique configurations and requirements. This can lead to inconsistencies and inefficiencies, especially when moving data between production and sandbox environments. The financial reporting add-in for Dynamics 365 ensures a standardized approach to financial reporting across all environments. This reduces the time and effort required to set up and maintain reporting systems.  

Ensuring Availability Across Existing and New Environments 

For users currently utilizing financial reporting, there will be no changes to your existing environments. The financial reporting add-in remains accessible through lifecycle services (LCS), ensuring seamless access and continuity. The add-in continues to be available within the Dynamics 365 Finance menu, maintaining user familiarity and ease of use. 
 
Users not currently utilizing financial reporting should have received communication about its removal from your LCS environment. (Reinstall via LCS if needed.) The financial reporting menu item will always be accessible within Dynamics Finance. 

Financial reporting is not deployed by default in newly created environments. However, easy installation via LCS is available, if needed. This provides users the flexibility to customize their environment setup based on specific reporting needs. This optional deployment feature empowers users to manage and configure their reporting tools according to their requirements. This in turn streamlines operations and reduces unnecessary pre-installations. 

Streamlined Data Management for Multi-Environment Setups 

For customers managing multiple production and sandbox environments, please note financial reporting may be used in some environments but not others. When moving data, the financial reporting database will only transfer if both the source and target environments have it installed. To ensure smooth transitions, we recommend pre-installing financial reporting in both source and target environments to include it in data migrations. 

This selective deployment capability ensures operational continuity, avoiding disruptions during data migrations and maintaining financial reporting capabilities. The flexibility to tailor environment setups based on specific operational needs, creates a more efficient and effective financial reporting process. 

Enhanced Simplicity and Improved Efficiency 

By integrating the financial reporting add-in for Dynamics 365 Finance, organizations can achieve significant business outcomes. The streamlined financial reporting processes reduce complexity and administrative overhead, leading to enhanced simplicity in managing financial data. Faster setup and maintenance of reporting systems contribute to improved operational efficiency. IT resources are freed up and finance professionals can focus on strategic tasks rather than manual reporting processes. 

Better Financial Insights and Informed Decision-Making 

Consistent and accurate reporting across environments provides reliable data for informed decision-making. The financial reporting add-in provides finance professionals access to precise insights, enabling strategic decisions driving business growth and success. With these enhanced reporting capabilities, organizations can better navigate the complexities of financial management and achieve their business objectives. 

Expanding Regional Availability 

The financial reporting add-in is now generally available. All regions supported by Dynamics 365 Finance will find access to these enhanced capabilities. Organizations worldwide can leverage the benefits of streamlined financial reporting, driving greater efficiency and accuracy in their financial operations. 

Get Started Today!

We believe these improvements will significantly enhance your financial reporting processes. We also believe they will deliver tangible business value and support your strategic financial goals. Visit the financial reporting documentation for more information and installation instructions.