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About Journal Names

Financial Journal Names are associated across all financial modules within Dynamics 365.

General Ledger Journals, Purchase Ledger Invoice Journals, Customer Payments and Accrual Journals are all examples of Journal Types within Dynamics 365.

Each Journal is assigned a type that has a specific system generated control and governs under which process the Journal appears. For example, a journal of type ‘Daily’ will only appear for General Journals. Various global controls can be assigned to journals including specific number sequences, currency and tax options that can be assigned to govern process control.

Standard Journals

Standard journals provided by GYDE365 are listed below. These can be removed, renamed and added to, if required.

Workflow Control

Workflow is a system that provides functionality to create business processes and control. It defines how a document flows through Dynamics 365 with pre-defined steps needed to process and approve it, along with who needs to process it.

Sample of how a workflow is built

There are several functions and benefits to using a workflow including:

  • Create a multiple approval hierarchy: If, for example, the value of the journal is over a set amount, this can trigger an automatic second layer of approval before the journal can be processed
  • Unlimited steps and conditions: Selecting various IF, OR, AND statements allow full transparency and accuracy of who is responsible for the transaction
  • Sub-workflow: A workflow can open a sub workflow if a condition is met and the sub workflow would have a separate set of rules and conditions that need to be passed prior to approval
  • Approval Timeline: Conditions can be created whereby if a transaction is not approved within a certain time scale, the transaction can be recalled or diverted to another approver
  • Approval Groups: Several approvers could be part of the approval group and a condition could be added that states, for example, any 2 out of the possible 5 approvers have to approve.

Additional Information

Further information from Microsoft, on configuring Journal Types, can be found in this link:

Ledger journal types – Finance | Dynamics 365 | Microsoft Docs