Microsoft ERB Beginners Tutorial - Episode 4

Overview:

• Continuation of Episode 3
• Focus on creating main accounts in a new legal entity

Review from Episode 3

• Introduction to the chart of accounts and main accounts

Creating Main Accounts

Steps to Create Main Accounts:

1. Click on the New button: Start creating a new main account.
2. Sample Main Accounts:
   • Initially configure around 30 main accounts.
   • More accounts will be added as needed.

Headers and Reporting Accounts

• Header Accounts: Used for reporting purposes only, no transactions are posted.
  • Example: Asset Search
  • Type needs to be set to 'Reporting' and 'Header'.
• Sub Headers: Similar setup as headers.
  • Example accounts: Fixed Assets, Current Assets, Liability, Expense, Revenue

Excel Integration for Account Entry

Using Microsoft Dynamics 365 with Office 365:

• Excel Import:
  • Click the Office 365 icon on the Dynamics 365 screen.
  • Choose "main account" option, download, and open Excel.
• Populate Excel with Account Data:
  • Copy relevant account data (number and name) into Excel.
  • Categorize account types (Asset, Liability, Expense, Revenue) and set them accordingly.
  • Assign chart of account name from the legal entity.

Publishing Data

• Publish the Excel worksheet back to Dynamics 365.
  • Confirm successful publishing with a "publish successful" message.
  • Refresh the Dynamics 365 screen to see the updated main accounts in proper order.

Conclusion

• Successfully created and imported main accounts and chart of accounts.
• Assigned chart of accounts within the ledger.

Next Episode Preview (Episode 5)

• Setup for the physical calendar
• Currency setup:
  • Reporting currency
  • Accounting currency
  • Exchange rate
• Introduction to account structure

• Note: For detailed field explanations, refer to the finance-specific series.