Dynamics 365 Finance

Wish there is an option to easily visualize tax refund balance and tax refund balance carried forward year-to-date, for purpose to decide whether to compare and process tax authority refunds (e.g. Immex or previously named program maquiladora) for Mexico localization.

Example +VAT conditional tax paid on supplies + VAT tax paid on custom inbounds=Tax credit or refund balance.

REMARK: Not all taxes types are eligible for tax compensation and tax refund requests.

Wish there is an option to easily process tax authority refunds, when a potential tax calculation maybe + positive, meaning the tax authority may owe us a tax balance (e.g. Immex or program maquiladora on Mexico localization franja-fronteriza).

Not featuring tax balance or balance carry forward at time of tax calculation for purpose to easily accrue for tax authority refund balance (e.g. Debit tax authority vendor and Credit legal entity vendor account for eligible tax refund balance including tax balance remaining carry forward) For example (+Conditional VAT tax paid on supplies +Custom tax on inbound-imports) Immex programs (previously named Maquiladora program).

Wish there is an option to easily process tax balance carry forward from tax calculations settlements, for purpose to easily process tax compensations and request tax agency authority refunds. (e.g. Mexico localization Immex or program maquiladora)

Not featuring a tax balance carry forward on tax calculation settlements,, user may potentially process outside the system or conventionally. (e.g. +Conditional VAT tax paid for supplies + custom inbound tax)

Wish there is an option to easily process tax calculations with option to process tax compensation on eligible main accounts (e.g. conditional VAT tax + custom broker taxes) for Immex or maquiladora program.

Not featuring option to process tax compensation on eligible main account tax remaining balance or tax balance forward, user may potentially process outside the system or conventionally.

Wish there is an option to easily process tax accrual on tax balance refunds (e.g. conditional VAT tax and custom tax) for Immex maquiladora program.

Not featuring tax balance accrual and refund, user may potentially process conventionally or outside the system.

When tax invoice journal is posted, GST calculation was incorrect

Case 1 -

When a tax invoice journal is entered under Accounts Payable -> Invoices -> Tax Invoice Journal, which posts to a ledger account with a project account as the offset (GST group is selected as GST, and Item GST groups is also selected as GST), GST calculation is incorrect.

The total invoice amount is adding up the item/service amount and the GST amount. Instead, the total invoice amount should be the difference of item/service amount and the GST amount.

Case 2 -

When a tax invoice journal is entered under Accounts Payable -> Invoices -> Tax Invoice Journal, which posts to a ledger account with a vendor account as the offset (GST group is selected as GST, and Item GST groups is also selected as GST), GST calculation is correct.

The total invoice amount is the difference of item/service amount and the GST amount (Case 2).

I have evolved this managerial decision-making method over my professional experience providing in accounting, auditing and business consulting services.

I would like to elucidate that the methodology I am presenting, is a unique and distinctive method.

The methodology will provide simultaneously more depth to cash flow movements, better clarity, and transparency to the Financial Statements by:

• ·        Applying a table-driven and leveraging sophisticated and advanced Algorithms, and
• ·       Tracking and classifying each JV's transaction through its economic life cycle by identifying the transactions and all its subsequent activities with the period (year) when it was initiated, and
• ·       Validate differences between the time Cash Flow occurs and when Revenues or Expenses are recognized and
• ·       Identifying potential accounting errors and inaccuracy, and
• ·     Compiling and bringing together all accounts (Balance sheet accounts - accruals, Income statement accounts, Financial accounts, Deferred accounts, etc.), and
• ·       Extracting the Statement of Cash Flow by using the Direct Method & the Indirect method, and
• ·       … etc

Numerous additional financial analysis reports can be produced from that application method to address the needs and interests of the Management Team and for the numerous Stakeholders, specifically the Investors, Internal Audit, the Audit assurance, CFO’s, etc.

The accounting profession, worldwide, is currently working hard to ensure that its clients regard the assurance and attestation services they receive as providing added value to their decision-making processes.

My objective is to propose an improvement, rather than a sweeping change, to the century-old, well-established double-entry accounting convention to enhance our understanding of the information it generates. Although it is obvious that we should not attempt to bypass the traditional accounting equation, we should no longer limit ourselves to the traditional analysis of the results it generates.

The statements and related schedules generated by the methodology that I propose provide a wealth of financial information that is ripe for in-depth analyses of a business entity’s results of operations, its solvency and Capital Position.  The results could range from useful recommendations to decision-makers.

I wish to reiterate, that the methodology is going to complement the existing standards and processes by enhancing the understanding of the information they generate and making it more relevant for decision-making purposes.

I hope that these notes (not all-inclusive) have given you a general understanding and a quick glimpse.  I am very confident about the strength, speediness, maturity and the added value for applying the innovative methodology, based on the consistently high value of results, originate new financial ratios and also, I would like to add that the concept is an “end-to-end” procedure.

I am willing and available to provide you any additional information you may need and I am prepared to explain the application methodology in front of experts, particularly if you find that it can benefit the business community and that it responds to the persisting needs of the market.

I look forward to your valuable response and welcome any comments or suggestions you may have.

Electronic reports are used to produce customer invoices, Free text invoices and Project Invoices.

There is no Electronic reporting version for excel available to add to print QR codes for Electronic reporting Invoices (Excel) for Switzerland only in the SSRS report version which we are not using as we are using electronic reports to create customer invoice in Excel to PDF

We had an issue with the importing MT940 bank statement, the bank statement which is shared by the bank not having forward slash, while importing the bank statement without forward slash, system is not allowing to import the statement. Expecting the solution in near future releases.

There is no report in D 365 which could provide the details of the cancelled voucher against the original Free text invoice. Request you to develop the same.