Introduction:

Financial tags are a newly introduced functionality to aid in your business's management of financial data. The utilization of financial dimensions has allowed businesses to classify transactions for further reporting and tracking. The introduction of financial tags enhances that process by allowing up to 20 user-defined tags to add more detail to your D365 financial transactions. 

Financial Dimensions

Financial dimensions in Dynamics 365 Finance and Operations serve as a fundamental tool for categorizing and analyzing financial transactions. These dimensions allow organizations to segment transactions based on specific attributes such as department, cost center, project, or location. This not only aids in accurate tracking but also empowers businesses to generate detailed reports that facilitate informed decision-making.

Financial Tags

A notable evolution in Dynamics 365 Finance and Operations is the introduction of financial tags. Tags provide a more flexible approach, unlike the traditional setup of financial dimensions that often necessitate predefined values and structures. They enable users to quickly categorize transactions on the go, without the need for extensive configuration.

Key Features and Benefits of Financial Tags:

1. Unprecedented Flexibility: Financial tags stand out for their flexibility, especially when compared to the structured nature of financial dimensions. They are ideal for situations where rigid dimensional structures might not be practical.

2. Ad Hoc Categorization: Tags excel in scenarios where ad hoc or temporary categorization is required. Users can easily label transactions without altering existing configurations.

3. Empowering Search and Reporting: Tags bring organization to data chaos. By filtering and grouping transactions using tags, users can zero in on specific data sets, enhancing the accuracy of analysis and reporting.

4. Tailored to Business Needs: Organizations can define their own tag categories and criteria, adapting them to their unique business requirements.

5. Aiding Compliance and Audit: Tags have proven valuable in identifying transactions related to compliance demands. They simplify the tracking and reporting of such activities during audits.

The Power of Financial Tags

As we navigate the complex financial management landscape, Dynamics 365 Finance and Operations continues to evolve, delivering innovative tools like financial tags to enhance how we categorize and analyze transactions. Whether it's the precision of financial dimensions or the agility of tags, Microsoft's ERP solution empowers businesses to achieve greater insights, compliance, and efficiency in their financial processes.

Since the introduction of financial tags on version 10.0.32 their support has increased with each new version release. The following are the supported documents through version 36 that financial tags can be applied to:

Version 10.0.32

-        General journals

-        Global general journals

Version 10.0.33

-        Customer and vendor payment journals

Version.10.0.34

-        Periodic journals

-        Fixed asset journals

-        Allocation journals

-        Reporting currency and adjustment journal

-        Vendor invoice journal

-        Invoice register

-        Vendor approval journal

Version 10.0.35 

-        Load ledger transactions functionality 

-        General journal entries marked as a reversing entry

Version 10.0.36

-        Sales orders

-        Packing slips

-        Customer invoice documents