The Microsoft Dynamics 365 Business Central 2023 Release Wave 1 enhances support for managing multiple companies, including improvements to intercompany capabilities and more. The release is planned to roll out starting in April 2023 through September 2023 including 7 productivity enhancements.
Here's a summary of some of the highlights to expect in the latest Business Central release. For a complete listing visit this notice from Microsoft - click here.
1. Accounting Automation for Multiple Companies
Dynamics 365 Business Central 2023 makes it easier to manage accounting tasks for multiple companies where an intercompany setup is needed. The Intercompany Postings feature includes improvements in release wave 1 to make it easier to set up, get a better overview, and make the intercompany transaction process more flexible and seamless.
2. Period-end Accounting Process and Analysis
You can now add data for analytics using Statistical Accounts in addition to dimensions. Statistical accounts make it simple to enter numerical data for general ledger (G/L) transactions that you can use for reporting and analytics.
It’s now easier in Dynamics 365 Business Central 2023 to get an overview of progress in the period-end process when you have a high volume of transactions. The G/L Settlement makes it easy to apply general ledger entries during reconciliation.
3. User Interface Enhancements
The 2023 release wave 1 helps boost efficiency when using actions and lists of records. Users get the ability to personalize the fields on a page by selecting from existing fields. These features were designed to reduce time and effort and optimize the workspace.
4. Legislation Updates
New legislation updates go live in Business Central release wave 1. Microsoft adds legislation automation and features that comply with government agencies' various regulations based on the most popular requests for improvement in this area. The legislative enhancements focused on non-deductible VAT in the base application.
5. Country and Regional Additions
More countries and regions have been added in release wave 1 so Business Central is available in more than 130 countries. Also, Microsoft provides all regulatory updates to countries where Microsoft is responsible for the localization.
6. Productivity Enhancements with Microsoft 365 (Office 365)
Business Central's 2023 release wave 1 builds upon the collaborative capability with Microsoft Teams to drive broader product engagement and access to data across your organization, including features that allow your teams to:
- Respond to inquiries faster by attaching quotes and invoices directly in Outlook
- Share, analyze, or do bulk edits in Excel
- Create easy-to-read reports and other templates using Word
- Start a conversation in Teams about a record
- View, share, and create business documents with OneDrive for Business
7. Optimized Microsoft Power Platform Integrations
In 2023 release wave 1, Microsoft continues to optimize the way Business Central integrates with Power Platform. Therefore, it will be easier to set up approval workflows from within Business Central. It will be easy for users to automate more of their processes, be more efficient and get more done. Additionally, you’ll get sample apps to help anyone responsible for creating Power Apps get started faster with their Power App development.
We advise you to check with your Dynamics 365 Business Central consultant before making any changes to your system. If you don't work with one, we're happy to help.
You Can Rely on Our Microsoft Experts
Our Clients First consultants have direct experience in the industries we support. The Clients First Texas office is known for its vertical expertise in manufacturing, job shops, maintenance, repair, and overhaul (MRO) for aviation or heavy equipment organizations. We have customers in other industries, too, including make-to-order/engineering job shops, project manufacturing, field services, and wholesale distribution.
Nothing replaces a live presentation so please contact us to schedule a demonstration for your business. We support leading Cloud ERP solutions such as Dynamics 365 Business Central, Microsoft Dynamics 365 Finance and Supply and Acumatica. Our ProMRO solution integrates with Microsoft Dynamics 365 Finance and Supply and Acumatica. In addition, we have a deep knowledge of legacy ERP solutions like Dynamics AX (formerly Axapta) and Dynamics NAV (formerly Navision).
We’re a Microsoft Gold ERP Partner, a Certified Cloud Service Provider (CSP), and a Cloud ERP Acumatica Gold Partner.
Email our office in Dallas/Fort Worth, Texas, or call 800.331.8382. We're based in Dallas, Texas while servicing companies worldwide.
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