Summary and resources

Completed

In Finance, companies are the only legal entity you can create, and every legal entity is associated with a Company ID. Creating a legal entity is the first step of implementation.

With Finance, you can easily handle regional tax reporting requirements by using sales tax groups, item sales tax groups, and sales tax reporting codes.

You can also benefit from the Finance cost accounting capabilities and track your costs with cost types.

Now that you reviewed this module, you should be able to:

• Describe finance capabilities, features, and use cases.

• Describe organization and legal entities.

• Describe Finance tax capabilities.

• Describe cost accounting concepts.

Resources

Use these resources to discover more.

• Finance Home page

• Create a legal entity

• Create a legal entity

• Create an operating unit

• Organizations and organizational hierarchies overview

• Set up sales tax authorities

• Cost accounting terminology

For further study:

• Dynamics 365 Finance overview

• Understand the benefits of Dynamics 365 Finance

• Create a legal entity

• General ledger

• Decide whether to model internal organizations as legal entities or operating units

• Handle regional tax reporting requirements

• Getting started with Tax

• Introduction to tax configuration

• Configure sales tax authorities

• Introduction to cost accounting

• Configure the Cost Control workspace

• Work with the Cost accounting Get started wizard

• Explore cost accounting concepts

• Cost accounting

• Understand the different types of journals and their setup

• Process a journal entry

• Configure and use journals

• Configure sales tax groups and item sales tax groups

• Set up sales tax reporting codes