hello everyone hope you are doing very well in this CashNews.co I will demonstrate a new feature called Financial tag defaulting rules before jumping into the product demo I would like to explain that what is this financial tag defaulting rules for that I have created two case studies which
I will show now so in my screen the case study one which I have prepared that uh as of now the financial tag has been a manual input so going forward we can automate the process say assume a company wants to have the vendor invoice number automatically added from the vendor invoice field to the
financial tag invoice number so that at the end in the month end the Mis team or the you know procurement team can get the invoice number in the voucher transaction field or transaction field man account transaction F table I would say so in my screen the case study one denotes that if that is a
vendor invoice then the invoice number which is added in the vendor invoice number field which will be automatically added into the financial tag value if that is not a vendor invoice then the value will be written as others right so it is automation opportunity based on some value based on some
condition the financial tag will be automated from the other value of that table the second case study which I have prepared uh which is say if my financial Dam mention business unit is Delhi or NOA or gurugram then my financial tag region will be automatically filled as North similarly if my
Dimension business unit is Mumbai Pune silvasa or nagpur then my financial tag region will be automatically filled as West so that is these are two case studies which I have prepared so now I will demonstrate in the product so I have enabled this feature Financial tag defaulting rules this is
available on 1042 version or from 1042 version as a preview feature once you have enabled this then in the general ledger module under Financial tag a new form form will be enabled as Financial tag rules okay so if you open it then default Financial tag rules will be visible this I have not created
because these are all system rules this is nothing as of now the financial tag has been working like if you add some Financial tag in the journal header level then it will be Auto derived to your line level so these all rules are actually a standard rule which are from the beginning but the these
those have been mirrored with the standard tag rules here okay so what we will do we will create the exact case study which you have seen in my PowerPoint presentation for that we need to understand couple of things so if you click new a new form will come okay so we need to understand couple of
things from here what is transaction entry point transaction entry point is a document or the area like general journal allocation Journal reporting currency adjustment Journal vendor invoice Journal so these four are the uh available transaction entry point going forward Microsoft will launch more
transaction entry point so pilot will be this four so if you add if you add the rule this rule will be only applicable from uh general journal allocation Journal vendor in general reporting currency adjustment journals okay for now I will select general journal transaction level transaction level
nothing is header account or offset the rule will be applicable in header or in account or offset I I select account and Target Target means which financial tag value will be used like I have mentioned my financial tag as a region my financial tag as a invoice so the rule will be applicable in
which financial tag right so I will add invoice I have created invoice and region as a financial tag in my system and here I will select enabled and override existing value whatever value is added currently I mean that will be overwritten by this rule so now another important part is Power FX
formula so Microsoft has launched this Power FX formula in this feature if you know power F Formula you can write the power formula if not that’s not a problem like I don’t know Power FX formula so I will utilize condition form condition framework okay so I will write the condition my
first condition was if my uh if my general journal entry is a vendor invoice Journal then the invoice value will be added in the invoice Financial taum so the easy to understand whether it is a vendor invoice sorry it is a vendor invoice journal or not the account type is vendor I will select if my
account type is vendor then my invoice value will be added so I will be I will select invoice okay so what I’m saying is my target is invoice as a financial tax so what I’m saying is my condition is account is vendor then set Target value Target value is fine invoice the target value
will be the invoice field whatever is added in the invoice field okay if not then it will be like others done I can write another condition multiple condition but for this I will keep it simple okay for the new for the other case study we will create another dimension multiple Dimension so I click
okay okay so if you notice this one which I have created as a new rule here there is no system rule triggered that means it is not a system rule is which is we which we have created okay so there is a simulate option also available however this simulate option is not there in the 10 of 42 probably
it will be given in the next version so I have created it I have activated it as well so we will test this one it is enabled so before testing I just look to add so see I added this condition here the formula the power defx formula is automatically created so it’s a vice vers if you know
Power FX form that’s fine however if you add the condition it will be added as a power fix formula automatically okay so now what I will do I will go to General journals and then create a general journal and in this general journal so what I will do see if you if you see the financial tag
invoice is automatically selected others because the else formula is working here because else means my account type is not vendor that means it is else automatically it is selected as others which you have selected as else condition however we want to test the vendor the true condition if I select
vendor okay and then what I need to do I need to add some invoice number right so if I add a invoice number like okay I will refresh see the value which I have added in the invoice as tag or maybe I will change this tag one 2 three go here see is automatically coming as a tag 1 2 3 I don’t
need to select so this is one of the use case I’m not saying this will be the correct or incorrect use case I’m saying the possibility automation fun possibility this is one case study so if you post this the final tag invoice will be added okay so this is one case study the automation
case study another case study which we have is the financial uh Financial Dimension so let’s see which we have what Financial Dimension we have maybe divisions okay divisions so let’s see so for me Division and business unit is same division is a translated version translated name but
the original name is business unit so I will go to business unit so in the business unit I think I have NOA Delhi Mumbai gurug okay gurugram is not there okay that’s fine nagpur I have and then Pune also I have okay okay fine so these values I ALS already have created so what we will do we
will create the financial tag rules so my T Financial tag rules is if my Finance I mean it will be based on the region my my transaction entry point I will select general
journal my transaction level is account and my target will be region in this case what I’m doing is I’m adding region based on the financial dimension value so here what I will do my account business unit is uh NOA okay set Target values to not again my business unit is Delhi then also
it’s not another condition my business unit is Pune then it is west another condition I will add if my business unit is Mumbai then also it is west and if the condition is not met then it is so I have what I’ve added if my business unit is NOA then it is North if my business unit Delhi
it is North if my business is pun then is West it is Mumbai it is west and others done okay so my you know the my rule is done it is created so now we will test this in the general journal so as I mentioned my business unit is actually a division so I will just test this we select ler and then uh
say this one and here Mumbai so oh my bad uh I think I made a mistake so it’s always you need to remember that region I have not enabled it so what I will do I will just edit enable word existing and then I will test this go back create lines okay I will delete this so I will now test this
what I will do see if you see the others and others both coming because in my previous one invoice uh was there else condition with others and regen also is others is automatically coming because I have not selected any Dimension which is matching so I will select it I will select divisions
divisions and division divisions is basically translated value of business unit so here I will select Mumbai so if I select Mumbai my expectation it will be it will change at West you see it has been Chang as west region is West at the same time if I select Delhi right if I go here I just refresh
it it will be North right this changing automatically now if I select NOA right if I refresh it it will also be a north and now if I change it to so it basically it will be automatically wte and if I change it to any other value on line so it will be others like it is else condition is meeting
basically let’s go back to our case study so our case study was like this if if my general in general lger if the vendor is account type then the invoice number will automatically be added in the invoice invoice number or invoice as Financial tag the similarly based on some Financial Val
Financial Dimension value my financial tag region will be upgraded automatically right so that’s the uh you know two of the case study which I wanted to share but it can be any any case study which you can think of in the system like uh I would say this is a significant addition or change
Microsoft has added as of now Financial tag has been a manual input but from going forward we can utilize this automation functionality based on some table based on some value or Bas some condition so that’s it for this demonstr demonstration I hope you all liked it and thanks for watching
bye for now stay tuned for another CashNews.co like this
CashNews, your go-to portal for financial news and insights.