Plan and prepare for Dynamics 365 Finance in 2023 release wave 1
Important
This content is archived and is not being updated. For the latest documentation, go to What's new or changed in Dynamics 365 Finance. For the latest release plans, go to Dynamics 365, Power Platform, and Cloud for Industry release plans.
Important
The 2023 release wave 1 plan covers all new functionalities planned to be delivered to market from April 2023 to September 2023. In this article, you'll find the product overview and what's new and planned for Dynamics 365 Finance.
Overview
CFOs are embracing digital transformation journeys across their entire organizations, with their systems and people. Their core financial systems require the ability to react to changes in economic conditions and country-specific regulations, provide deep financial insights, and financial automation. Having a system that provides the flexibility to handle complex scenarios, react quickly, and allow people to focus on value-added activities versus manual tasks is critical for business success.
Updates to Microsoft Dynamics 365 Finance 2023 release wave 1 include:
Core financials
Further enhancements to subscription billing solution, enhancements for advanced cost and revenue deferrals with project accounting and subledger.
General availability of invoice capture. This automates the reading and recognition of vendor invoices by providing OCR capabilities to complete the full end-to-end automation of accounts payable.
Continued enhancements around ledger settlement automation and introduction of financial tags.
Public preview of archiving and purging data to save space and increase performance on large, enterprise datasets.
Invoice number length extended to 50, and the ability to use payment schedule in invoice journal in accounts payable has been added.
Continuous improvements for advanced bank reconciliation, which includes the capability to use booking dates to post new transactions in bank statements.
Globalization Studio
Expanding country coverage to 51 out-of-the-box countries/regions by shipping additional seven LATAM country localizations for Chile, Colombia, Costa Rica, Nicaragua, Panama, Paraguay, and Uruguay.
Enhancing automation of complex tax scenarios by simplifying tax rate provider integrations via Universal Tax Rate API (preview), integrating with a global e-invoicing ISV for last-mile connectivity to tax authority services for countries that require intermediate certified operators, and enabling tax-specific exchange rates for tax currency conversion.
Delivering regulatory updates to comply with upcoming e-invoicing legislations in Japan and France, and other legislation changes.
Updates to Dynamics 365 Finance 2023 release wave 1
Investment areas
Core financials
Organizations continue to strive to get more time to their users, more insights into the vast amount of data they have, and make quick and informed decisions to optimize their finance and operations. Core financials is for features focused on bringing additional enhancements to core financial capabilities, financial automation, and reporting.
In this release wave, investments in core financials are around the themes of analytical reporting, finance automation, thriving in the subscription-based economy, and moving toward a continuous, touchless period-end close.
Globalization Studio
Our customers run our solution globally and must meet multiple tax compliance and other regulatory and local business practice requirements (localization). Globalization Studio provides out-of-the-box tax compliance and other localization content for 51 countries/regions and in 57 languages. Our no-code/low-code globalization tools and services automate complex tax scenarios and make localization easy for Microsoft, as well as partners and customers, to create, extend, and maintain. Together, these capabilities enabled our customers to operate their solutions in over 200 countries and regions.
In 2023 release wave 1, we continue enhancing Globalization Studio by expanding the out-of-the-box country coverage by an additional seven LATAM countries, enhancing tax compliance automation, content, and scalability, and delivering regulatory updates to comply with upcoming e-invoicing and other legislations in multiple countries.
For more information on Globalization Studio, go to Globalization Studio documentation.
We continuously monitor legislation in all 51 out-of-the-box countries/regions and ship multiple regulatory updates per government deadlines. To follow on planned and released regulatory updates, go to Search for country-specific regulatory updates.
To learn more about the entire set of capabilities being delivered during this release wave, check out the release plan for Dynamics 365 Finance below:
For application administrators
User-impacting features to the user experience enabled automatically
User-impacting features should be reviewed by application administrators. This facilitates release change management and enables successful onboarding of new capabilities released to market. For the complete list, look for all features tagged "Users, automatically" in the release plan.
Features that must be enabled by application administrators
This release wave contains features that must be enabled or configured by administrators, makers, or business analysts to be available for their users. For the complete list, look for all features tagged "Users by admins, makers, or analysts" in the release plan.
Get the most out of Finance
| Helpful links | Description |
|---|---|
| Release plan | View all capabilities included in the release. |
| Product updates | Stay up to date on latest product updates. |
| Release calendar | Know important release milestones. |
| Licensing | Improve your understanding of how to license Finance. |
| Product documentation | Find documentation for Finance. |
| User community | Engage with Finance experts and peers in the community. |
| Upcoming events | Find and register for in-person and online events. |
| Product trials | Get started with Finance. |