Automating Currency Revaluations in Dynamics 365 Finance 10.0.44

The Dynamics 365 Finance 10.0.44 release brings an impactful feature that simplifies financial operations for businesses handling multiple currencies.

The process automation for bank foreign currency revaluation is here to improve the way finance teams manage this typically demanding task. For organizations that have relied on manual processes, custom scripts, or external tools to handle month-end revaluations, this feature marks a step towards operational efficiency and accuracy.

Core Functionality of the Feature

Introducing automation into foreign currency revaluations aims to streamline the process across several dimensions.

Here’s what this feature offers:

• Automated revaluation scheduling: You can now automate revaluation schedules for foreign currency bank accounts directly within D365FO, eliminating repetitive manual processes.
• Seamless integration with automation frameworks: Define recurring schedules such as monthly or quarterly tasks, specify revaluation parameters, and the system handles execution with minimal intervention.
• Fewer errors, improved consistency: Automation reduces human error, ensuring revaluations are accurate and consistent over time.
• Enhanced compliance and audit trails: With detailed logs tracking execution criteria and results, audits and reviews become significantly easier to manage.

Operational Improvements

What does this mean for your finance team’s daily operations? The feature translates to measurable gains for your organization, including efficiency in workload, improved accuracy, accelerated financial close, and greater visibility.

By removing the need for manual involvement in revaluations, finance staff can redirect their time towards strategic activities, increasing overall productivity. Automation reduces the likelihood of errors, offering reliable revaluations that align with defined parameters. Further, automatic execution of revaluations helps speed up month-end and year-end closures, minimizing time lost due to bottlenecks. Finally, the process automation framework provides clarity in scheduling, tracking, and managing revaluations, ensuring transparency throughout.

Transitioning Away from Custom Solutions

Organizations that currently depend on custom-built workflows or third-party tools for currency revaluations will find this feature a game-changer because it:

• Replaces custom batch jobs: If you’ve relied on custom scripts to handle this process, this out-of-the-box solution offers a smoother, maintenance-free alternative backed by Microsoft’s support framework.
• Phases out third-party tools: For those using external software solely for currency revaluation automation, this feature consolidates the process within D365FO, reducing the need for additional platforms.
• Lowers operational risk and cost: By eliminating custom dependencies, enterprises can cut maintenance costs while benefiting from Microsoft-delivered updates and improvements.

Key Setup and Highlights

Here’s a quick overview of the feature’s main capabilities and how to implement them within your organization:

1. Define schedules: Choose specific times for revaluations
2. Adjustable parameters: Customize revaluation dates, exchange rate data, and select bank accounts to include as needed
3. Results review: Preview revaluation results before posting, or export data to Excel for further analysis
4. Detailed audit trail: Maintain historical records of all revaluation activity

To enable this tool, follow these steps:

1. Turn on the feature
   • Navigate to Feature Management and enable “Enable process automation for bank foreign currency revaluation”
2. Configure your automation
   • Under Cash and Bank Management, set up a periodic task for currency revaluation automation, defining the schedule and selecting relevant accounts
3. Monitor regularly
   • Use the process automation calendar to oversee and adjust runs where necessary

Why Make This Move Now

If your business handles foreign currency transactions, implementing this feature within D365FO 10.0.44 offers compelling advantages.

This update modernizes a manual financial task, lowers operational risks, and enables finance teams to focus on data-driven decision-making. For finance leaders seeking process excellence, this is a feature worth investing in.

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