In a previous post, we discussed the benefits of using the Proposed vendor changes workflow in Microsoft Dynamics 365 for Finance and Operations. In version 10.0.32, Microsoft added a new feature called Vendor bank account change proposal workflow, which allows users to set up change proposals and approvals for specific bank account changes made to a Vendor. This was an area where the functionality was lacking in the original Proposed vendor changes workflow. Let’s dig into why this was such a big deal for Microsoft to add this additional functionality.
Proposed Vendor Changes Workflow
The Proposed vendor changes workflow is a great tool, but there are limitations in its functionality as it relates to vendor bank accounts.
The Proposed vendor changes workflow ensures that the Bank account field on the Vendor record is listed as requiring approval for any changes, which is a positive thing, but there are limitations to the functionality, which we will review here.
However, within the Bank account setup for a Vendor, there have not been any approval processes set up to add/modify a Bank account on a Vendor.
This is a problem because users with appropriate permissions can still update Bank account information on a Vendor by navigating into the Bank account information tied to the Vendor and making the modifications.
Vendor Bank Account Approval
When the Vendor bank account change proposal workflow feature has been activated within Feature management, a new set of parameters appears within Accounts payable parameters (Accounts payable > Setup > Accounts payable parameters). Within the General tab of Accounts payable parameters, a new FastTab appears called Vendor bank account approval.
Similar to Vendor approval, the information in this FastTab is tied to Vendor bank account fields and lets users choose which fields to create change proposals for, as well as the behavior associated with the change. Within this FastTab, there are two toggles tied to Bank account approvals, one for create, and one for update. These toggles will tie the new Workflow approval for proposed vendor change workflow to any selected changes made on a Vendor bank account record and allow a company to set up a review and approval process for any vendor bank account changes. There is also a dropdown called Data entity behavior. Within Data entity behavior dropdown are the options Allow changes without approval, Reject changes, and Create change proposals. More specifically:
- Allow changes without approval allows changes to be made to the Vendor bank account record without review and approval through the workflow process.
- Reject changes will reject any change made to the Vendor bank account record. This is beneficial if your Vendors never change bank account information.
- Create change proposals means that creating a change proposal will use the Workflow approval for proposed vendor bank account changes workflow to generate an approval process for any acceptable changes made to the Vendor bank account.
Within the Vendor bank account approval FastTab is a list of fields that are found on the Vendor bank account that may need review when they are changed. The fields in this list include:
- Bank account number
- Name
- Bank account
- Routing number
- SWIFT code
- IBAN
- Currency
- Bank groups
- Active date
- Expiration date
Workflow for Bank Account Changes
The name of the workflow tied to this new feature is very similar to the Proposed vendor changes workflow. The new workflow is named Workflow approval for proposed vendor changes, but as you can see in the description, it calls out vendor bank account changes specifically.
The workflow itself is simple and relies more on the selections made in Accounts payable parameters within the Vendor bank account approval FastTab.
How it Works
When making a change to a Vendor bank account, the following must be true:
- The field has been defined as a field that requires approvals within Accounts payable parameters
- Bank account approvals (create) and/or Bank account approvals (update) are set to Yes
- Data entity behavior is set to Create change proposals
- The Workflow approval for proposed vendor changes is enabled
Navigate to the Vendor and access the Bank account information on the Vendor tab in the Action pane.
Fields that require approval are designated as such with (requires approval) listed after the field name.
When a change is made on the Vendor bank account, a Change proposal is created.
Change proposals can be viewed on the Vendor bank accounts screen. Once changes are made, the Review status on the bank account will be updated to Approved, changes not submitted. If it is a new bank account, the Review status will be listed as Draft.
Once submitted to workflow, the Review status will be updated to reflect that it is in Draft (create) or Pending changes (update).
Once approved, the status updates to Approved and the fields are updated to reflect the changes made.
Conclusion
This feature was a nice addition by Microsoft to ensure accountability on bank account changes. The new feature can, and should, be enabled for all organizations that desire tighter controls on bank account changes relating to Vendors to ensure compliance with external and internal initiatives.
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