Welcome! In this video, I will demonstrate how you can easily
get started with Cost accounting in Microsoft Dynamics
365 for Finance and Operations, Enterprise edition.
If I go to any object within the Cost accounting module,
And, we have not used the module before. In this instance, I will go-to the cost control workspace.
We can see that I'll get prompted with this welcome message.
Simply because the system, the text that
no entities exist in Cost accounting and it allows me to click Get started.
And when I do so, a wizard will be popping up.
In the wizard, I have a nice welcome message to explain what Cost accounting can
do for you, and there's also a link to the Cost accounting
homepage where you can find wikis, task guides, and other videos.
If I click next in the wizard, it will ask me and guide me through the setup
of Cost accounting by me giving and providing some information to the
system. So first, I need to select which legal entity that I want to take
the data from. In this case, I want to take data from USP2.
So I write USP2 in and select the legal entity. And I will click Next.
Based on my select of USP2, the system recognizes which chart of account
it will use as my basis for my cost elements.
And to create cost elements, I need main accounts. And instead of you
selecting each main account we can actually import them based on the main account type.
And the system already
preselects the three normal main account types that will become cost elements
in Cost accounting. You can change these in the wizard,
or you can leave them as they are. In this case, I will leave them as they are, and continue in the wizard.
For the cost accounting ledger, you have to provide a and and a description.
I will call this My trial
version and give it an description of USP2.
And again, based on my selection of USP2 as my legal entity,
It actually
defaults the fiscal calendar, the exchange rate type, and the accounting currency.
For the Cost accounting ledger, I can change this, for instance
accounting currency to a different currency if I want to,
or I can leave as it is. In this case, I will leave it as it is. And I will click Next.
Cost accounting works for cost objects and cost objects come from financial dimensions. So the wizard
expects that I select at least one financial dimension
as my cost object. In this case, I want to select cost centers.
I select cost center and I click Next.
Cost accounting also works with budget figures.
So if you want to work with and have the budget figures in your ledger, you can actually
select which budget model you want to import. In this case, I want to deselect it
And I want to click Next. I can always later on configure the system to import the budget numbers.
I'm actually now done with the wizard, and it says Congratulations. I'm done.
And, tells me about what is going to do afterwards once I click Finish. And it also explains
what I can do after I actually completed the wizard, I want to complete it by clicking Finish.
And the system now creates one batch job where it's going to create a lot of entities, configure a lot of data providers
and process these data providers, so I will have data in my
Cost accounting populated afterwards. So I will close these two forms down here.
And we can go to the Cost accounting ledger,
which has already been generated. So here is my cost accounting ledger entity.
It's call trial version as I provided the name in the wizard.
We can see that the fiscal calendar is Fiscal,
the accounting currency is US dollar, and the exchange rate type is default.
We can also see when I go to control units
That it created a control unit based on my dimension cost center. So,
my ledger is now configured completely.
If we go to the dimensions, which are
really the building blocks of Cost accounting, we can go to the cost element dimension.
We can see that it created one entity here called Main accounts. It created and selected the data provider for this
entity to be Dynamics 365 for Finance and Operations. And if you go
to configure the data provider, we can see that the data provider has been configured based on the settings
that I actually entered in the wizard.
And if we go to view dimension members, we can also see that it actually processed
this data provider, and it has imported all the main accounts based on the
three main account types.
And it has created them as cost elements, of the type Primary in Cost accounting.
If we go to cost object dimensions,
We can see that it created an entity called cost center. The data provider is also
Dynamics 365 for Finance and Operations. If we go to configure the data provider,
we can see the data provider is configured based on the financial dimension cost center.
And if you go to view dimension members, we can also see that this data provider has already been
process and only cost centers have been imported.
The system has also created two dimension hierarchies.
One for the cost center and one for my main accounts. These are two very
basic hierarchies, which is very important in Cost accounting because it allows
you to create reporting your reporting hierarchies
for the workspace, for the export to Excel, and so on, and also for your policies. The two hierarchies
that have been created by default
by the wizard are very basic. So if you go to view hierarchies,
you can see it is very basic with one root and one node. And
within this node, under the dimension member ranges, we can see that it actually goes from
cost center 007 to 094, which is all the cost centers that we have actually imported.
As a user, you can then create either a new and more advanced dimension hierarchy, or you
can simply just change the hierarchy by creating new notes and moving the nodes
up and down to add your own dimension member ranges as required.
The wizard has also created the
first workspace configuration, which is really our
reporting components in Cost accounting.
It's called Actual by default because I only imported the general
ledger data. And here we can see that it has selected my Cost accounting ledger
and cost control unit of that ledger.
We can also see it inserted the two hierarchies, the cost element dimension
hierarchy and the cost object dimension hierarchy.
The rest of the data in this
configuration can always be changed by the user in any given point of time.
If we go back to the ledger,
We can actually also see on the actual versions that it
created the trial version, which is our actual costing version. And we can also
see under Managed, and under Data sources of general ledger, that it created one
entity of USP2 and the data provider is Dynamics 365 for Finance
and Operations. And that means if I go under Configure data provider,
and the data provider has been set up as we specified, the legal entity is USP2, and the posting layer is Current.
And when I process this data source, it will import the general ledger data
from my financial system into Cost accounting.
I will close it down, it has actually already been done. So if we go back and we go to
source data processing to the general ledger entry transfer journals, we can
see the first journal has been processed.
This is because the wizard will run for the period that you're running it in to see there is any general ledger data that
can actually process into Cost accounting. And the first entry has already been
processed by Cost accounting.
And therefore, if I go to my workspace cost control, which was empty when we started this little video,
and click. We're now able to see that it actually now can
show data and I can now select my
cost object dimension hierarchy, even though it is very basic.
I can select a level, and I can also drill into into the numbers.
Again, very basic in my cost elements
hierarchy and see that in total, we have approximately two hundred thousand us dollars
imported into Cost accounting for my general ledger system.
So, now imagine that you can create your your cost
center hierarchy much more advanced and you can create your cost element hierarchy much more advanced.
And, then you have the whole reporting story.
So, this is a very quick way to get started with Cost accounting. You get your basic data set up. You get
the basic providers processed, and you are now ready to go and
explore Cost accounting by going through the creation
of allocation bases
and policies so you can start actually to make the cost behavior policies, cost distribution
policies, and cost allocation policies. So this is what I wanted to show about the new wizard capability. Thank you for seeing and listening.