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This post is a part of blog series about Consolidations in Business Central. Please refer to my previous posts for more information. How to post Intercompany Sales Invoices in Business Central? (alexandrahorbatenko.blogspot.com) How to set up In Transactions with Dynam tercompany ics 365 Business Central (alexandrahorbatenko.blogspot.com) Consolidation is combining the financial data of two or more separate companies (subsidiaries) into one consolidated company for financial reporting. Below I outline the setups required to be completed for the consolidation, and the process of consolidating the data in Business Central. 1. Run Test Database Report to ensure that Consolidated G/L accounts are all mapped correctly. 2. Run Consolidations. 3. Run Consolidated Trial Balance. 4.  Processing Consolidation Eliminations Any elimination entries will need to be calculated manually and posted using a General Journal. #microsoftdynamics365businesscentral    #businesscentral   #microsoftcloud   #t

 Make sure that Intercompany Set up is completed before attempting the next steps. Please refer to my previous article on the intercompany transaction configurations.  How to set up Intercompany Transactions with Dynamics 365 Business Central (alexandrahorbatenko.blogspot.com) I. Processing IC Sales order 1. Navigate to  Sales Orders, and then choose the related link.  2. Choose New to create a new sales order.   3. Fill in the fields as necessary. Hover over a field to read a short description.  4. Make sure the customer is an intercompany partner. 5. To send the sales order before you post it, choose the Send IC Sales Order action.  6. Navigate to  Handled Intercompany Outbox Transactions if you need to get more details. 6. Then Switch to the partner’s company.  If you have selected Auto transaction, then the purchase order is created automatically. If you did not select, then you have to go through the IC inbox transaction. 6. Go to Purchase Orders and post the received IC Purchas

 Dynamics 365 Business Central facilitates efficient, cost-effective transactions with affiliated and subsidiary companies.   Various companies have subsidiaries or other associate companies, and multiple transactions occur between them. With the help of intercompany transactions in Microsoft Dynamics 365 Business Central, organizations can track those transactions with ease. Business Central makes it extremely easier for organizations to engage and contract with one another. Here are the steps to set up Intercompany Transactions. 1. Set Up Intercompany. * Enable Auto. Send Transactions * Microsoft 365 Business Central Cloud allows to use only Database for IC Inbox Type. 2. Set up Intercompany Partners. 3. Set Up Intercompany Chart of Accounts. *If COA is different, then you will need to map to relevant G/L accounts manually. 4. Set Up Intercompany Dimensions ( if used). 4. Set Up Intercompany Journals. 4. Set Up Business Units. ( Assisted Set up- Process Consolidations) * Consolidat

 Fortunately, it is quite simple to issue a refund to a customer in Microsoft Dynamics 365 Business Central.  Here are four simple steps for reimbursing a customer in Business Central. 1. Check the Customer Entries  You need to check the customer ledger entries, where you can identify the duplicate payments. To do so, please navigate to a relevant Customer Card and select Related-History-General Ledger. 2. Create Payment Journal to process the Refund. 3. Apply the Refund against the Payment.   4. Check again the Customer Ledger Entries. Navigate to the Customer’s Ledger Entry then Check the entry to ensure the status of the entry. The Remaining amount will become 0.00 after successful entry and the Open field will be blank. Thank you for reading! #microsoftdynamics365businesscentral    #businesscentral   #microsoftcloud   #trainingcourses   #cloudjourney   #certifications   #learning   #microsoftlearning   #functionalconsultant   #erpconsultant   #erpsoftware   #microsoft