As part of the latest 10.0.32 release from Microsoft for D365 F&O, there is a new feature that will allow more flexibility to anyone who needs to analyze the state of their business within the system.

The feature is called Financial Tags, when enabled allows user-defined fields to be created to help classify, organize, and explain a variety of financial transactions done in the system. Microsoft allows for up to 20 of these new financial tags. They can be used to track information from Customers and vendors to payment reference numbers.

With this new feature, users can use these new tags as an alternative to creating new or additional financial dimensions to track accounting entries.

 

Financial tag setup

After this new feature is enabled within the Feature Management Section, users should first define the delimiter for the tags. This should be done prior to the adding of the tags.

Navigate to General ledger>Ledger setup>General ledger parameters>Financial tags.

 

 

How to create financial tags

Navigate to: General ledger>Chart of accounts>Financial tags>Financial tags

1. Select New to create a financial tag.
2. Enter a label for the tag. The label must start with a letter or underscore, and it can contain only letters, numbers, and underscores. No special characters, including spaces, are permitted.
3. In the Value type field, select Text, List, or Custom list.

 

**If List is selected in the Value type field, select the value source in the Use values from field. This dropdown field contains a list of entities that the tag values can be selected from during transaction entry.

 

 

 

 

 

 

**If selected Custom list is selected in the Value type field, once the tag type is saved, select Tag values to create the custom list of tag values that will be available for selection during transaction entry.

4. Select Activate to activate the tag.

**User will be prompted with which Inactive tags to make active, or vice versa. This will automatically go into batch to activate.

5. When the batch job successfully completes, the selected tag will show an active check mark next to it

 

Using financial tag values on transactions

When the desired financial tags are activated, they will be available for entry on transactions. For example, on General journals tags can be defined on the journal header, and those desired tags will be used for each line of that journal. Tags may also be defined at the line level for the journal as well.

After a transaction is posted, the financial tags are available on the lines of the general ledger account entry. They’re shown on the Voucher transactions and Transactions for main account pages. The financial tags are shown in separate columns, so that they’re easier to sort and filter.