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Financial Management#

The following features expand standard Microsoft Dynamics 365 Business Central1 functionality to provide additional options to those working in your organization’s finance department.

Non-deductible VAT#

For general information about the feature, see Set Up Non-Deductible VAT - Business Central. This article only describes the additional pages, functions, and fields available for it in KUMAVISION project365.

VAT Setup#

You can now also use dimensions to calculate percentages of non-deductible VAT.

  1. Choose the Search icon, enter VAT Setup, and then choose the related link.
  2. Fill in the fields as described in the following table.
Field Option
Non-Deductible VAT Type (blank)
Indicates that this field hasn’t been filled in yet. To proceed, you must select one of the following options.

Standard
Corresponds to standard functionality, which means the system posts lines by using the non-deductible VAT percentage that has been specified for them on the VAT Posting Setup page.

Dimension
Determines a non-deductible percentage based on dimensions and dimension values (and, potentially, a time frame, as will be explained later).
Non-Deductible VAT Check Show Notification
Shows a message if the current combination of VAT business and product posting groups entered on a line allows for a non-deductible percentage based on dimensions, but none can be found.

You can still post the line, however.

Show Error
Displays an error message during posting.
Non-Deductible VAT Date Posting Date
Posting dates will be used to calculate non-deductible VAT.

Document Date
Document dates will be used to determine the percentage.

Hinweis

The fields in this table are only visible if the Non-Deductible VAT toggle has been turned on.

Non-Deductible VAT Dimensions#

Can be opened by choosing Actions > Non-Deductible VAT Dimensions on the ribbon.

If you selected the Dimension option in the Non-Deductible VAT Type field on the VAT Setup page, the non-deductible VAT typically specified in VAT Posting Setup is stored with dimensions and dimension values instead. In that case, you specify on this page the dimensions that you want the system to consider for calculating a percentage, as well as the order of priority in which they should be searched for.

You then need to specify for each dimension value from which date a percentage will be valid for them by choosing Dimension > Dimension Values on the ribbon and filling in the fields as necessary.

Non-deductible VAT is only used for lines on which you stored a business and posting group combination that allows the use of non-deductible input VAT via the Allow Non-Deductible VAT field in VAT Posting Setup (see the standard help for more details).

Hinweis

If you selected Dimension as the non-deductible VAT type, you cannot enter a percentage in the Non-Deductible VAT % field in VAT Posting Setup, as the percentage from the dimension values should be used instead.

Project deferrals#

For general information about the feature, see Defer Revenues and Expenses.

The following section only explains the additional pages, functions, and fields available for it in KUMAVISION project365.

Jobs Setup#

The standard app doesn’t include a function to defer job ledger entries; they’re posted in sales and purchasing as if no deferral took place, that is, one entry is created per posting date. To change that:

  1. Choose the Search icon, enter Jobs Setup, and then choose the related link.
  2. On the General FastTab, turn on the Use Deferral toggle so that you can defer amounts on job ledger entries in the same way as job revenue and usage.

Fixed asset integration#

This section describes the integration of project management into fixed asset accounting. For general information about the functionality, see Manage Fixed Assets (contains video) - Business Central | Microsoft Learn.

Setup#

A FastTab named Project Integration has been added to the Fixed Asset Setup page, containing a toggle called FA Job Integration. Only if this toggle is turned on are you able to use the features described in the following. If it isn’t, nothing is posted to a job when you post a fixed asset transaction.

Turning on the toggle then unhides the other fields on the tab. You can choose in the Depr. Book (Jobs) field the depreciation book for which FA ledger entries will be posted to projects. For each posting type—from acquisition cost to custom1 and custom2—you can also choose the work package that specific FA values should be posted to automatically.

Fixed asset card#

To link a fixed asset to a project, open a fixed asset card and fill in the Job No. field. This way, posting a fixed asset transaction also posts the FA value to the specified job.

Post an FA ledger entry#

When you post a ledger entry for a fixed asset linked to a job, a job ledger entry is created. This entry is posted to a WBS line containing a work package of the same FA posting type as the package specified in Fixed Asset Setup. If none is found on the current WBS, an error message appears.

However, the system must not create job ledger entries for asset purchases or sales at this point, that is, for fixed asset ledger entries where the posting type is set to Acquisition Cost, Proceeds on Disposal, Salvage Value, or Book Value on Disposal, or where the posting category is Disposal or Bal. Disposal.

The exception are internal jobs, identified as such on the Job Type page. Their FA transactions must be set up manually, which creates job ledger entries. But these don’t include amounts used to, for example, measure the financial value of a job. They’re stored in the Fixed Asset Total Cost (LCY) field instead.

To create job ledger entries, job journal lines are set up and posted. What kind of job ledger entry is created during this process depends on the posting type specified for the fixed asset. If that type is Gain/Loss, Proceeds on Disposal, Salvage Value, or Book Value on Disposal, Sale is selected as the ledger entry type; else, the Consumption option is used.

All job ledger entries are of type G/L Account, with the correct account being chosen based on the fixed asset group that you specified for the relevant FA ledger entry type. The value of a job ledger entry corresponds to the FA value that is posted for a project but with the sign reversed. The entry also contains the dimensions of both the job and the fixed asset it’s related to.

Financial reports#

Financial reports set up for internal projects might include fixed asset-related consumption even if the specified FA type doesn’t allow costs to be stored for them in the usual way.

For this purpose, you can select the Include Fixed Asset Total Costs checkbox in the column definition if you choose Job Ledger Entry as the entry type. With the field selected, the report column will include not only the total costs of the relevant job ledger entries but also those of the fixed asset based on the Fixed Asset Total Cost (LCY) field value stored with the entries.


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