If you’ve been following our D365 F&O update series, you know that some of the updates in Microsoft’s release plan require you to manually activate the new capability. This is helpful for companies who are still testing new features and training staff in how to deploy them effectively. Unfortunately, it can also cause updates to go unused if they are not activated. Our goal in each update spotlight is to help you evaluate specific updates so you can identify and enable the ones that will be most helpful in improving productivity and managing risk.
This month, Microsoft has released a process improvement that will help you streamline your invoicing procedure by automating parts of the product receipt and invoice line matching process.
Here’s what that means for you.
October Dynamics 365 Finance Update Feature Spotlight
If your company uses a three-way matching policy for vendor invoices, purchase orders, and product receipts, then each line of those three components must match in order to process the invoice. This means that someone on your team has to manually match each invoice line to the posted product receipt after the goods arrive. These line-by-line matches require a painfully slow and labor-intensive protocol to ensure that you have all the information you need and that every entry is correct.
This month’s update automates the matching process so you can save time and improve efficiency.
Vendor Invoice Automation: Match Product Receipts to Invoice Lines That Have a Three-Way Matching Policy
When a three-way matching policy has been defined for an invoice, the system can now automatically match posted product receipts to invoice lines. This process will run in the background until the matched product receipt quantity equals the invoice quantity. As part of this process, you can:
How Does This Update Deliver Value for Your Business?
It takes a significant time investment to manually monitor the arrival of goods and match them to invoice lines one by one. The automated matching feature removes that burden from your team. By saving time and streamlining workflows, this process automation helps you create a more productive, efficient team.
Add More Value with AXIA Consulting
The updated features in D365 F&O are designed to add value, reduce risk, and improve processes. To get the most out of them, you’ll need to evaluate new updates, assess their usefulness in your environment, and enable them. If you don’t stay informed about which features have been released and what they can do for you, valuable updates may go unused.
That’s where AXIA can help. We help you plan your continuous update strategy so you don’t miss out on a single improvement that can add value to your workflow and processes. We help you:
Do you have questions about how to plan your update strategy? Are you considering how you can get the most benefit from specific features? We’re here to help!
Visit us at axiaconsulting.net to learn more.
Doug Blitzer leads AXIA’s Microsoft Dynamics 365 practice and has over 28 years of consulting and industry operations experience. His focus includes assisting private and public sector clients to achieve improved business process and technical operations. Doug’s expertise encompasses business process improvement, business metrics, technology strategy, project/program management, packaged and custom software implementation for ERP, CRM, HRIS, Learning Management, Performance Management, and Application Tracking systems, as well as eCommerce, organizational change management, and talent development.
Doug’s experience and relationship skills provide him with the foundation to direct and manage large complex projects, including multiple constituencies, multiple software integrations, and complex requirements.