In this blog post we will create legal entity in Microsoft Dynamics 365 Finance and Operations from scratch. There are multiple modules with multiple options need to be configured for fully functional legal entity in Dynamics 365. Below are lists of modules which need to be configured.
- System Administration (Global Settings)
- User Setup
- Batch Job & Batch Groups
- Organization Administration
- Organization Structure
- Addresses
- Global address book
- Country/region setup
- ZIP/Postal codes
- States/Provinces
- Calendar Setup
- Work calendars
- Fiscal calendars
- Organization calendars
- Workflow Setup
- Workflow parameters
- Email configurations
- Specific workflows (purchase, sales, vendor invoice, journal approval)
- Legal Entity Basic Setup
- Legal Entity Setup
- Number Sequence Setup for new Legal Entity
- Legal Entity Parameters
- Finance Setup (Mandatory for Financial Posting)
- General Ledger Module
Ledger
Chart of accounts (COA)
Fiscal calendar
Ledger posting groups
Account structures
Advanced rules
Posting definitions (if used) - Date Intervals setup
Currency Setup
Accounting currency
Reporting currency
Exchange rate types
Exchange rate providers
Convert exchange rates
General Ledger Parameters
Voucher series
Journal control
Pre-defined journal names
Financial dimensions
Financial dimension values
Dimension format & combinations
Journals
General journal
Daily, periodic, allocation journals
Default accounts - Tax Setup
Tax authorities
Sales tax groups
Item sales tax groups
Settlement periods
Tax exemptions
Reverse charge setup (if applicable)
Cash & Bank Management
Bank groups
Bank accounts
Chequebook setup
Positive pay (optional)
Payment formats (ISO20022 etc.)
Accounts Payable
Vendor groups
Vendors
Payment schedules
Terms of payment
Vendor posting profiles
Vendor charges
Invoice validation parameters
Vendor workflows
Vendor bank accounts
Accounts Receivable
Customer groups
Customers
Payment schedules
Credit & collections setup
Customer posting profiles
Customer charges
Interest & Collections letters
Customer bank accounts
Credit limits
Budgeting (Optional)
Budget models
Budget codes
Budget control configuration
Fixed Assets (Optional)
FA groups
FA books
Depreciation profiles
Value models
Posting profiles
Fixed assets parameters
- General Ledger Module
- Procurement & Sourcing Setup
- Procurement Parameters
- Number sequences
- Request for quotation setup
- Purchase order setup
- Categories
- Procurement category hierarchies
- Category policies
- Vendor Setup
- Vendor evaluation
- Vendor certification
- Purchase agreements
- Procurement Parameters
- Sales & Marketing Setup
- Sales Parameters
- Number sequences
- Sales order setting
- Reservation strategy
- Delivery setup
- Return order setup
- Categories
- Sales categories
- Trade agreements
- Price and discount setup
- Customer Setup
- Credit & collections
- Delivery alternatives
- Modes of delivery
- Sales Parameters
- Inventory & Warehouse Setup
- Inventory Parameters
- Item groups
- Item model groups
- Storage dimension groups
- Tracking dimension groups
- Inventory posting profiles
- Inventory value report setup
- Warehouse Setup
- Warehouses
- Locations
- Location profiles
- Work templates
- Wave setups
- Mobile device menu setup (WMS)
- Product Information Management
- Product dimensions
- Product hierarchy
- Product attributes
- Released products
- Bill of materials (if manufacturing)
- Inventory Parameters
- Retail/Commerce
- Channel Database Setup
- Retail scheduler
- Channel profiles
- Store Setup
- Retail stores
- Registers
- POS permissions
- Statement posting setup
- POS functionality profiles
- Payment connector settings
- Hardware profiles
- Commerce Headquarters Setup
- Async client
- CDX setup
- Notification settings
- Channel Database Setup
- HR Setup (If Applicable)
- Positions
- Jobs
- Compensation structures
- Benefits
- Organization assignments
- Leave & absence setup
- Project Management & Accounting (Optional)
- Project groups
- Project categories
- Project contract setup
- Project posting parameters
- Hour, fee, expense, item setup
- Production Control (If Applicable)
- Production parameters
- Route groups
- Costing versions
- BOM setups
- Scheduling parameters
- Master planning
- Advanced Features (Optional but recommended)
- Electronic Reporting (ER)
- Configurations
- Formats
- Mapping
- Data Management Framework (DMF)
- Templates
- Data projects
- Import/export configurations
- Power BI Integration
- Dual-write Integration (Dataverse)
- Document Management
- Audit Trail Setup
- Electronic Reporting (ER)
