I can barely hold back my excitement related to the changes we have seen come into Microsoft Dynamics 365 Business Central! Microsoft has done an excellent job of putting some great improvements in place and I hear (wink, wink) there is even more coming in the next release.
Row and Column Definitions
There are currently five new row definitions and 12 new column definitions.
Row Definitions
| Name | Description |
|---|---|
| TB | Trail Balance |
| BS DET | Balance Sheet Detailed |
| BS SUM | Balance Sheet Summary |
| IS DET | Income Statement Detailed |
| IS SUM | Income Statement Summary |
Column Definitions
| Name | Description |
|---|---|
| BBDRCREB | TB Beginning Balance Debits Credits Ending Balance |
| BSTREND | BS 12 Months Balance Trending Current Fiscal Year |
| CB | BS Current Month Balance |
| CB V PB | BS Current Month Balance v Prior Month Balance |
| CB V SPYB | BS Current Month Balance v Same Month Prior Year Balance |
| CNC | IS Current Month Net Change |
| CNC BUD | IS 12 Months Net Change Budget Only |
| CNC V PNC | IS Current Month Net Change v Prior Month Net Change |
| CNC V SPYNC | IS Current Month Net Change v Same Month Prior Year Net Change |
| CNC V PNCYOY | IS Current Month v Prior Month for CY and Current Month v Prior Month for PY |
| CVC YTDBUD | IS current Month v Budget Year to Date v Budget and Bud Total and Bud Remaining |
| ISTREND | IS 12 Months Net Change Trending Current Fiscal Year |
These can be combined interchangeably, which creates the option for twenty-five new reports. You can see them for yourself by creating an updated version of the Cronus Demo company. Go to any report you want to try and select one that you would like. You can choose to export either the full report, just the row definition, or just the column definition. Once you have the exported file, import it into your system and start to use it.
One word of caution: Be sure to remap the accounts in any row definition so they match the general ledger accounts your company uses, instead of the ones used in the Cronus database.
Role-Based Capabilities
Microsoft outlined what should be included in the next release coming this spring, according to the release notes published on January 25th, 2025. In this Release Wave, the Financial Reporting feature has been enhanced with capabilities for report viewers, report authors, and administrators.
- Financial report viewers can:
- Choose to hide empty rows when they view a financial report
- Financial report owners can:
- Document the use of the report (using an internal description field)
- Write introduction and closing paragraphs for reports
- Save Excel templates in Business Central
- Run a financial report using a saved Excel template
- Schedule when to run a financial report
- Use a new Month to Date column type
- Find financial reports that use a column or row definition
- Use an accounting format where negative numbers are formatted with () instead of a minus sign
- Open financial reporting when they create a new G/L account
- Administrators can:
- Use the documentation to find out which permissions are needed to run or edit financial reports
- Get telemetry on the use of financial reports and lifecycle events
Microsoft has also released some great new documentation that explains the best ways to adapt these reports to your company’s needs.
Upcoming User Group Webinars
There is a lot to review here. If you’d like some help, I’m hosting webinars related to financial reporting in Business Central throughout 2025 on Dynamics Communities for the user group.
- March: Get started using Business Central financial reporting options that exist in the software you already own.
- June: Account mapping: How to repurpose existing Business Central demo financial reports for use at your company
- December: Design your own Excel templates to use for fast, easy, and beautiful production of Business Central financial reporting
Stay tuned for the specific dates to be listed on Dynamics Communities.
Additional Resources
If you are ready to expand your use of financial reporting in Business Central, there are some additional free resources available to you that include many more examples like the one used here:
- Gain Deeper Insights into Your Financial Reporting by Adding Dimensions
- 3 Simple Comparative Column Definitions for Your Income Statement
- 5 Easy Steps to Create a Business Central Income Statement with Financial Reporting
- How to Flawlessly Load Your New Business Central Budget Every Time
- Using Business Central Financial Reporting to Create an Audit Lead Schedule
If you are a Business Central user, consider reviewing the 25 lessons in the Account Schedules 101 series. If you are a Dynamics NAV user, check out more financial reporting examples, a comprehensive listing of account schedule formulas, and 25 lessons in the Account Schedules 101 series. Most features in both blogs can be applied to both Business Central and Dynamics NAV, so take a look and try out something new today!
The post The Latest Improvements and Resources for Financial Reporting in Business Central appeared first on Dynamics Communities.