Financial Structure Series Part 5 – Financial Dimension Sets

In this post, which is the final in the financial structure series for Dynamics AX ( AKA 365 Finance and Operations), we are shedding a light on the importance of the financial dimension set which represents the essence of the whole financial structure illustrated throughout the previous posts.

In the previous four articles, we have explained how to “build” the financial structure considering the basic components. In this post, we’ll explain how to report on the financial structure including the main accounts primarily and the associated financial dimensions.

Financial Dimension Set – Definition

In order to create financial dimension set, go to General Ledger > Setup > Financial Dimensions > Financial Dimension Sets

Choose at least one financial dimension ( considering that the main account could be chosen as a financial dimension), or a combination of financial dimensions in order to report upon..

Let’s consider the following scenario, a financial structure of a certain company consists requires reporting on the three levels illustrated below:

In order to implement the above scenario, a financial dimension set is required to be created including the following financial dimensions:

1. Project
2. Line of Business
3. Department

Once the above financial dimension set is created, it can be used in inquiries and reports.

Financial Dimension Set – Common Inquiries and Reports

One of the most common reports that uses the financial dimension set is the “Trial Balance” .

It’s worth to mention that one of the financial dimension sets is “main account” which retrieves the trial balance of the list of main accounts.

Another common report which uses the financial dimension set is the “Dimension Statement” report which can be found under General Ledger > Reports > Transactions > Dimension Statement

 

 

Eventually, it is important to mention that the reports above could be provided for actual, budget or actual versus budget which represents the powerful financial capability of Dynamics AX ( aka 365 for finance and operations. )

 

Best Regards,
Mahmoud M. AlSaadi