What's New: Financial Management (2024 release wave 2)
Business Central 2024 release wave 2 financial management changes: the Subscription Billing module for recurring invoicing, default quantity for G/L lines, Power BI apps (Finance app with 14 reports), a star schema Fixed Assets query, and new financial reporting templates.
- Introduction and Subscription Billing Overview
- Subscription Billing Features and Future Enhancements
- Default Quantity for G/L Lines Feature
- Power BI Apps and Financial Reporting
- Fixed Assets Query and Star Schema
- Financial Reporting Templates and Documentation
- Summary and Closing
Overview
A five-minute overview of financial management updates in 2024 release wave 2. It starts with the Subscription Billing module, which handles recurring invoicing for contracts and services, with frequency, periods, renewal and expiry dates, and revenue recognition control through deferrals. Automated billing is described as coming later.
It then covers a small default quantity toggle for G/L lines, Power BI apps for six areas, a star schema query on fixed asset ledger entries, and added financial reporting templates with five predefined reports.
Key points
- Subscription Billing is a module for recurring invoicing of customer contracts and services, and also for recurring vendor expenses, with settings for frequency, billed periods, renewal and expiry, and a deferral module to control revenue or expense recognition.
- Subscription Billing ships with standard reports. In 25.2 (the next minor version), Excel reports, a new Word layout and a Power BI app with embedded reporting are to be added.
- Automated subscription billing (set up once and let it run) is mentioned as coming sometime soon, maybe the next release.
- A toggle in Sales & Receivables or Purchases & Payables setup sets the default quantity on G/L lines to one, similar to the item default quantity feature.
- Power BI apps are to be delivered for six areas including Finance, Sales and Purchase. The Finance app has 14 embedded reports with overview, KPIs and ledger entry drill-down.
- A Fixed Assets query based on a star schema, the first module to get one, lets you query fixed asset ledger entries across multiple tables, build your own views, and do fact finding or data validation.
- Financial reporting adds more templates that combine row and column definitions. Five predefined reports: balance sheet and income statement, each detailed or summarized, plus a trial balance. New docs content covers them.
Features
| Feature | Status | At | Evidence |
|---|---|---|---|
| Subscription Billing Module | status not stated | 0:30 | |
| Subscription Billing Excel Reports | status not stated | 1:26 | |
| Subscription Billing Word Layout and Power BI App | announced | 1:26 | “embedded powerbi reporting for subscription billing but that will be in the next minor” (1:26) |
| Automated Subscription Billing | announced | 1:46 | “maybe the next release we will also do automated building so you can set it up once” (1:26) |
| Default Quantity for G/L Lines | status not stated | 1:46 | |
| Power BI Apps for Financial Areas | status not stated | 2:19 | |
| Fixed Assets Query with Star Schema | status not stated | 2:52 | |
| Financial Reporting Module Templates | status not stated | 3:33 |
AL objects mentioned
As heard in the captions. A name that matches one object page by exact type and name links to it; the others stay as named.
- query “Fixed Assets Query” at 2:52
Not found in BC28-30: query “Fixed Assets Query”.
Quotes
- 0:30 “subscription billing which is a module that allows you to do recurring invoicing for contracts for services that you provide to your customer”
- 1:10 “in 25.2 we will provide you with Excel reports uh a new word layout and a powerbi app”
- 2:19 “the finance powerbi app includes 14 reports and they will be found as embedded reports in the product”
- 2:52 “we have created a query it’s a query based on a star schema so that you can query the fixed asset uh Ledger entries”
- 3:33 “there are five predefined reports balance and income statement detailed or summarized and there’s a trial balance”
Disclaimers in the video
- 1:26 coming-later: that will be in the next minor and sometime soon
- 1:46 coming-later: we will also do automated billing
Presenters (as heard): Brian Nilson.