If you didn’t already know, Microsoft has recently revealed its plans for the upcoming Wave 2 update due for release during October 2022. To help break this down for you, in our latest blog article, we will take you through 13 of the new and improved enhancements that will be coming to Business Central as a result of these plans.
1 – Financial reporting will take over from account schedules
You will find that from October’s Wave 2 release, account schedules will be changed to financial reporting. Furthermore, you will also learn that Microsoft will be setting a clear differentiation between a financial report and rows & columns. The hope is that this will make it easier to show that a financial report will consist of a combo of row and column definitions as well as a whole host of different parameters.
2 – Make use of multiple remit-to addresses for vendors
From this latest release, vendors will be able to have multiple remit-to addresses for payments. To put this into context in the form of an example, a vendor may supply an item via a subsidiary company who would like to receive the payment for this at their head office. Allowing multiple mailing addresses to be setup for each vendor within Business Central will make it simpler to allocate the correct location to process payments to on an invoice-by-invoice basis.
3 – Easier bank reconciliation for cheques
You will find that Business Central will be able to match cheques from the bank from information stored in the cheque ledger. This will enable higher accuracy for match confidence than information provided by the bank ledger itself.
4 – Reverse payment reconciliation journal entries
You will find that if you are currently using the Payment Reconciliation Journal page to register and apply customer payments, the latest improvement will enable you to have the journal use a certain number series. This will make it simpler to find any entries that were posted via the journal.
5 – Expanded text functionality for VAT clauses
You will find that via this enhancement, an expanded text feature will be used on VAT clauses. Put simply, if a country needs longer text, the customer will be able to make use of the extended text feature. Better still, all users will be able to see the text printed in both sales and purchase reports.
6 – Take advantage of new Excel report datasets
As a result of the incoming Wave 2 2022 release for Business Central, Microsoft will be adding new Excel report datasets into Business Central. The datasets will be for use with Excel reporting and will be based on General Ledger data as well as customer and vendor ledger entries.
7 – New VAT data field on both documents and entries
As a result of the latest Wave 2 update for 2022, users will soon be able to report VAT statements as well as returns based on the new VAT data rather than the posting date to meet requirements in certain countries.
8 – Configure OneDrive integration
Through this update, businesses will be able to configure which OneDrive related features can be used for Business Central.
9 – Give admins the ability to edit in Excel
Through this enhancement, specific admins will be allowed to use the Excel add-in in the same way any other user within the customer’s Azure Active Directory business does.
10 – Dedicated support for Power Apps and Power Automate for document attachments
You will find that as a result of the latest update, Microsoft will be enabling easy access for document attachments, related record media and other data linked to business records. Better still, this connector will provide the capability to add in Power Automate flows or Power Apps to support extra scenarios where external data is added into Business Central.
11 – Easily switch between companies across environments
It was clear from customer feedback that certain Business Central users have requirements to be able to view, edit and compare data across different companies. This will now be possible from the latest update which will make it easier to get an overview of the companies and environments a user has access to and to easily switch to get better contexts.
12 – Easily run, send reports via the request page
You will find that you will soon be able to complete this action from the request page. A user will be able to run a report and send it direct to the report inbox. This will enable the user to continue working and then pick up the report from the report inbox later when it has been processed.
13 – Select the appropriate report layout on the request page
You will soon be able to allow users to select which report layout to use via the request page. This will make it much simpler to utilise a whole host of report layouts for different purposes especially those Excel based layouts.
Next Steps?
If you are a business that is looking to change the way you work by implementing a tailored Business Central solution or looking to upgrade from Dynamics NAV to Business Central to take advantage of the latest enhancements then please don’t hesitate to contact a member of our Business Central team to discuss your specific needs.
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