New Functionality In Microsoft Dynamics 365 Business Central 2024 Wave 1: Complete Bank Account Reconciliation Faster With Copilot

error Important

The planned-features for this release wave have been updated and this feature appears to have been removed.

Microsoft Dynamics 365 Business CentralThis post is part of the New Functionality In Microsoft Dynamics 365 Business Central 2024 Wave 1 series in which I am taking a look at the new functionality introduced in Microsoft Dynamics 365 Business Central 2024 Wave 1.

The 6th of the new functionality in the Copilot and AI innovation section is complete bank account reconciliation faster with Copilot.

Bookkeepers in SMB organizations need to import bank statements and reconcile transactions with their bank ledger entries, making sure all transactions are accounted for. While Business Central already reduces effort through rule-based transaction matching, the residual work to process the unmatched transactions every week remains cumbersome and quickly accrues to lost workdays. Copilot reduces bookkeeping effort by matching more transactions and suggesting G/L accounts to post the remaining transactions.

Enabled for: Users by admins, makers, or analysts
Public Preview:  Nov 10, 2023
General Availability: Apr 2024

Feature Details

The bank account reconciliation feature in Business Central has been enhanced with:

  • AI-powered transaction matching that complements rule-based matching and further reduces the remaining unmatched transactions that require review.
  • AI-powered G/L account suggestions where Copilot suggests the most likely ledger account to post any residual transactions to and offers the opportunity to remember a specific transaction description for the next reconciliation.
  • Built-in demo data for evaluation companies that makes it easier to experience and demonstrate this Copilot capability to others. Demo data is available in English with 23.1 and other languages with 23.2.
Reconcile with Copilot, a new AI-powered action on the Bank account reconciliation list page.

Copilot assists with suggesting appropriate ledger accounts to post residual transactions.

Public preview notes

This feature is available as a production-ready preview for production and sandbox environments with any country localization of Business Central and is available for any user language. Production-ready previews are subject to supplemental terms of use. For more information, see Supplemental terms of use for Dynamics 365 preview.

While the feature is in preview, it performs best when the G/L account names, ledger entries, and bank account transaction descriptions are in the same language and in English.

Availability

This feature is exclusively available for Business Central online.

Looking for more details?

Watch the 20-minute video where the product engineering team at Microsoft shares more details about this new capability.

To access recordings on demand from the Business Central 2023 release wave 2 launch event, register for free at aka.ms/BCLE.

Try it out

To get started, go to the Bank Account Reconciliations page and choose Reconcile with Copilot.

This feature is available with all new production and sandbox environments with Update 23.1.

For upgrading customers, the feature will be automatically enabled with Update 24, but administrators can enable it as early as Update 23.1. To enable features ahead of time, sign in to your online environment and open Feature Management, then enable for all users the item named Feature Preview: Bank account reconciliation with Copilot.

In some regions where Azure OpenAI Service is not yet available, administrators must first consent to business data moving across compliance boundaries from the Copilot & AI capabilities page.

Tell them what you think

Microsoft are excited to have you with them on their Copilot journey.

Help them improve Dynamics 365 Business Central by discussing ideas, providing suggestions, and giving feedback. Use the forum at aka.ms/bcIdeas, or join the discussion on the Dynamics 365 Business Central Development Yammer network to help them shape the future of AI in Business Central.

Geographic areas

This feature will be released into the following Microsoft Azure geographic areas:

  • Germany
  • Norway
  • Singapore
  • South Africa
  • Switzerland
  • United Arab Emirates
  • United States
  • Europe
  • Asia Pacific
  • United Kingdom
  • Australia
  • South America
  • Canada
  • India
  • Japan
  • France
  • Korea

My Opinion

This enhancement had been announced for 2023 Release Wave 2, but I wasn’t aware it had been pulled and moved to this wave. In fact, it is still showing as part of the previous wave as well, although I’ve not had a chance to see if it is there.

Click to show/hide the New Functionality In Microsoft Dynamics 365 Business Central 2024 Wave 1 Series Index

New Functionality In Microsoft Dynamics 365 Business Central 2024 Wave 1
Use Virtual Tables to Expose More Business Central Data in Dataverse
Improve Approval Processes via Power Automate
Add Table and Field Mappings for Existing Integration Tables
Find a Matching Record in a Power Automate Flow
Archive Projects
Usability Improves for Service and Projects
Use Deferral Codes in Purchase and Sales Journals
Define a Service Invoice Posting Policy for Various Users
Define Default Location for Project or Project Phase
Block Item, Item Variant or Service Item from Use in Service Management transactions
Connect Business Central With Shopify B2B
Set Up Financial Consolidation Runs More Efficiently
Simpler Shopify Connection
Use General Ledger Account Revaluation for More Accurate Financial Statements
Get More Productive While Entering Time Sheets
Create Projects That You Can Invoice to Multiple Customers
Assemble to Project
Invoice a Customer for Multiple Projects
Use New Excel Layouts for 35 Selected Reports
Use Standard Terminology for Project Management
Use Currencies When Posting Employee Transactions
Manage Work Orders in Field Service, Invoice Them in Business Central
Manage Document Attachments in Service Items and Documents
Export and Import Multiline Text Using Configuration Packages
Correct Errors in Service Invoices
Prevent Editing Number Series on Service Documents and Cards
Be More Productive When Approving Time Sheets
Inventory Package Numbers Work Like Item Tracking Dimensions
Assign Salesperson to Customer Ship-to Addresses
View Incoming Documents in Archived Quotes and Orders
Introduce Power Automate Copilot Integration with Business Central
Map e-Documents to Purchase Order Lines with Copilot
Create Sales Lines Easily with Copilot
Extend Copilot Using Richer Development Tools
Get to Insights Faster with Copilot-Generated Analysis Tabs
Complete Bank Account Reconciliation Faster With Copilot
Create Product Information Faster with Copilot
Learn More About Fields with Copilot
Chat with Copilot
Automate IRS 1099 Form Submission in US
Enable Additional Countries and Regions
Install UK Localization as an App
Handle Multiple File Uploads and File Drop Zones
Debug the System Application
Remove Friction When Working with External App Dependencies
Use In-client Page Scripting Tool for Acceptance Testing
Use AL-controlled Barcode Scanning For All Scenarios
Write flexible and performant code with NumberSequences
Use the OData V4 IN Operator in Web Service Queries
Define Extension Objects in Same App as Their Base Object
Use Linked Environment in Dataverse Integration
Audit Business Central Operations in Microsoft Purview
Encrypt Data At-Rest with Customer-Managed Encryption Key
Allow Customers to Consent to Microsoft Support Accessing Their Data
Link Business Central Environments to Power Platform Environments
Copy Companies with Dataverse Integration Safely
View and Filter Users With Additional User Details
Control partner access per environment
See VAT Date in Posting Previews
Automate Country of Origin Listed for Item Tracking Code in Intrastat Reporting
Achieve Sustainable Compliance with Business Central
Discover Report and Data Analysis Content Easily
Use Drag and Drop to Attach Multiple Files
Use Actions to Navigate and Highlight or Fix Platform-Generated Errors
Share Error Details to Get Help from Another User
Access Worksheet Pages from Mobile Phones

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