Microsoft Dynamics AX | How to Setup Financial Dimensions.

Introduction

This tutorial provides a step-by-step guide on setting up Financial Dimensions in Microsoft Dynamics AX 2012. Financial Dimensions are crucial for categorizing financial transactions and reporting in a manner that aligns with your organization’s needs. By following this guide, you will learn how to create and configure these dimensions effectively.

Step 1: Access the Financial Dimensions Setup

1. Open Microsoft Dynamics AX.
2. Navigate to the General ledger module.
3. Select Setup and then choose Financial dimensions.

Step 2: Create a New Financial Dimension

1. In the Financial Dimensions form, click on New to create a new dimension.
2. Enter the following information:
   • Dimension name: Provide a unique name for the dimension.
   • Description: Add a brief description that explains the dimension's purpose.
3. Click Save to store your new dimension.

Step 3: Define Dimension Values

1. With your newly created dimension selected, click on Dimension values.
2. Here you can add various values that represent different categories within the dimension (e.g., departments, locations).
3. To add a new value:
   • Click on New.
   • Fill in the Value and Description fields.
4. Repeat this for all necessary values related to the dimension.

Step 4: Set Up Dimension Combinations

1. Go back to the Financial Dimensions form.
2. Click on Dimension combinations.
3. Here, you can configure which combinations of dimensions are valid for use in transactions.
4. To create a new combination:
   • Click New.
   • Select the dimensions you want to combine and click OK.
5. Ensure that the combinations align with your reporting requirements.

Step 5: Assign Financial Dimensions to Ledger Accounts

1. Navigate to General ledger > Chart of accounts.
2. Select the account you wish to assign dimensions to.
3. In the account details, find the Financial dimensions section.
4. Assign the previously created dimensions to the account as needed.
5. Ensure that you save your changes.

Step 6: Verify and Test the Setup

1. Perform a test transaction using the accounts with the assigned financial dimensions.
2. Check the reporting features to see if the dimensions appear correctly in reports.
3. Adjust any configurations as necessary based on the test results.

Conclusion

By following these steps, you should now have a functional setup of Financial Dimensions in Microsoft Dynamics AX 2012. Ensure you regularly review and update the dimensions and their values as your business needs evolve. For further learning, explore more functionalities within the General ledger module to enhance your financial reporting capabilities.