The world of business software is abuzz with anticipation as Microsoft prepares to roll out the much-awaited Dynamics 365 Business Central 2023 Wave 1. This latest update promises to bring a host of new features, enhancements, and improvements to the platform, empowering businesses to streamline their operations and drive productivity to new heights.
From enhanced collaboration in Teams to seamless integration with Power Platform, the upcoming release is set to revolutionize the way organizations leverage Business Central for their daily operations.
Let’s explore all the new features you will be getting with this latest update.
Notable Improvement in Dynamics 365 Business Central 2023 Wave 1
Scheduled for release between April and September 2023, this wave of updates introduces a range of exciting enhancements. One notable improvement lies in the realm of adaptive cards in Teams, where an optimized thumbnail view and a smoother permission experience will enhance collaboration and communication within organizations. Additionally, a new mode on list pages will empower users to analyze and pivot data directly within the client interface, eliminating the need for external tools or complex data manipulations.
What is new in Business Central 2023?
Here are some of the new features that are planned to be released from April 2023 through September 20.
This Business solution has enhanced its financial management capabilities to streamline and simplify accounting tasks across multiple companies in an intercompany setup. The Intercompany Postings feature has undergone significant improvements, enabling easier setup, providing a comprehensive overview, and ensuring smoother and more flexible intercompany transaction processes.
In addition to dimensions, Business Central now offers the option to incorporate Statistical Accounts for advanced analytics. With Statistical Accounts, you can input numerical data for general ledger (G/L) transactions, which can be utilized for comprehensive analyses and reporting purposes.
The latest Microsoft Dynamics 365 business central release allows users to add existing table fields to optimize pages. This feature allows users to manage accounting activities for groups of companies, not just individual ones.
This feature provides deeper functionality for Business Central records in Microsoft Teams. Cards no longer require additional sign-ins for users on both solutions, and the sizing and layout of cards have been overhauled to optimize space.
This feature gives accountants additional control over how they adjust exchange rates. Partners can now extend and customize the exchange rate adjustment to meet the needs of specific industries or markets.
The G/L Review action makes the review process faster and easier. To speed up the period-end process of reviewing and reconciling G/L accounts, you can review the G/L entries for a given G/L account and mark the entries as Reviewed.
Microsoft is making it simpler to configure inventory features, including building out the Business Central warehouse and item functionalities. You can provide more information for your warehouse team by defining filters on fields on source document lines when you create inventory putaway, pick, and movement documents. The additional information lets you be more specific about the actions to take in the warehouse.
This feature allows easier setup and sync master data across companies. Moving data between companies is now much easier. All you need to do is subscribe to another company’s data. This feature permits you to synchronize data between companies and maintain them in synch after the initial data synchronization logs.
A new mode on list pages to enable users to analyze and pivot data directly in the client. This feature provides deeper functionality for Business Central records in Microsoft Teams. Cards no longer require additional sign-ins for users on both solutions, and the sizing and layout of cards have been overhauled to optimize space.
A new function to post. This feature gives accountants additional control over how they adjust exchange rates. Partners can now extend and customize the exchange rate adjustment to meet the needs of specific industries or markets.
Additional Updates to Expect from Dynamics 365 Business Central 2023 Wave 1:
Business Central in the 2023 release wave 1 enhances efficiency in working with actions and lists of records.
- Customers and consultants can personalize page fields by selecting from existing table fields, reducing workspace optimization time and effort.
- Business Central integrates better with Power Platform, enabling faster adaptation and increased productivity.
- Approval workflows can be easily set up, automating processes and enhancing productivity.
- Microsoft provides sample apps to aid Power Apps makers in getting started quickly.
- Application features are added to improve productivity, create better overviews, and enable compliant accounting and reporting.
- Intercompany capabilities and general ledger settlement are invested in for financials.
- SAF-T audit file export is made available for all countries.
- Supply chain capabilities are optimized to enhance inventory and warehouse processes.
- Business Central has expanded its availability to more than 100 countries and regions.
- Development shifts entirely to Visual Studio Code, with improvements in productivity tools for developers.
- The permissions system is modernized to simplify the definition and maintenance of permissions.
- Additional self-service features are introduced for governance and administration.
- Support for non-deductible VAT is enabled in the W1 version, with plans for inclusion in country versions.
- Onboarding is improved with enhanced in-app guidance and user assistance.
- Collaborative business processes in Microsoft Teams become more efficient.
- A new data analysis mode is added to enable direct analysis and pivoting of data in the client.
- Microsoft continues to invest in performance, stability, resource governance, security, and compliance for the service and platform.
What is the latest version of dynamics 365 business central?
The latest version of Business Central is 22.0, part of the 2023 release wave 1. It brings new features and improvements, such as easier master data setup, direct data analysis in the client, and custom error actions. Collaboration in Microsoft Teams and service fundamentals are also enhanced.
Bottom Line
Finally, Dynamics 365 Business Central 2023 Wave 1 brings exciting new features and enhancements to streamline business processes and improve overall productivity. Users can anticipate a more intuitive user interface for better user experiences, enhanced integration capabilities, and expanded functionality across various modules. As we at DHRP helped you with the business central 2022 release wave 2 updates, we are here to take it further with our assistance.
