Review Summary
See a synthesized overview of the key takeaways from verified reviews of Microsoft Dynamics 365 Finance.
See a synthesized overview of the key takeaways from verified reviews of Microsoft Dynamics 365 Finance.
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The flexible chart of accounts utilizing account structures and advanced rules is very powerful and allows you to configure a complex set of accounts for funding such as funds, subfunds, grants, projects as well as add-in functions, activities and/or programs. The organizational hierarchy can be directly added as financial dimensions or derivied from another financial dimension as well. Budget control can be managed at higher dimension levels than just the lower level financial dimensions. Budget control can be configured approporiation-encumbrances-actual expenditures = available appropriation, but you have option to include preencumbrances and other items such as PO or invoices in progress in the calculation if you desire. Budget and cash control are separately configured so you can manage these at different combinations. Encumbrances can be managed through Purchase Orders and Requisitions, but can also utilize the general budget reservation feature, which is an encumbrance that can be relieved directly or by requisitions, invoices, or purchase orders and will roll the remaining obligation amount to the next fiscal year. You have the flexibility to configure how you want to handle encumbrance rollovers and Prior year budget items.
Flexible and stable configurations, low incidence of bugs, variety of fully integrated modules available
Several strengths to highlight: - Robust financial controls and reporting - real-time financial statements, dimensions, and analytics help users make faster, data-driven decisions. - Strong integration capabilities - works well with other Microsoft tools, which simplifies workflows and automation - Scalability for complex organizations - handled multiple entities, currencies, and telecom-specific financial structures without performance issues - Modern UI and cloud accessibility - great that you can access data from anywhere with a clean, consistent interface.
Project accounting is a very complex feature and difficult to reconcile with the other subledgers and GL. Grant accounting features a limited and often needs to be turned into 3rd party solutions for pre-award and compliance tracking versus just financial accounting of grant revenue and disbursements.
Microsoft support tickets are inconsistently addressed, integration requires high level X ability, built in reporting/ SSRS reports inflexible and hard to customize.
Few things that need to be considered while deploying/using the platform: - Steep learning curve - many users, even after several months of experience with it, still feel that the navigation and setup can be overwhelming, especially without proper training - Heavy reliance on customizations - telecom billing and cost-location scenarios often require extensions, which increase deployment time and cost - Performance slowdowns during peak processing - month-end, large batch jobs, or complex reports sometimes slow down the system.