#metisc

The “subscription economy,” in which pay-per-product companies are transitioning to subscription-based business models, has transformed the software industry. Software as a Service (SaaS) as a percentage of total enterprise software revenue rose from just 6% in 2010 to 75% in 2018, totaling more than $380 billion annually. These days, the subscription model has spread well beyond software to a wide array of other industries, from airlines to health and wellness.

What's less appreciated is how the subscription economy can be weaponised against sales teams that fail to adapt to the changing landscape. The results of a recent EY study show that only 55% of respondents feel their businesses are ready to shift to the subscription model. Respondents were concerned their sales teams lacked the talent, skills and infrastructure needed to successfully sell their products on a subscription basis. No department within a company will be more affected by the subscription economy than sales because it profoundly empowers the customer in several respects. 

Fewers Barriers To Entry

By removing significant, upfront capital expenses, the potential customer pool for the same goods and services will significantly increase. Such growth reflects the strength of subscriptions over capital expenditure-intensive transactions. According to research results, eight out of 10 companies have been sustaining or growing their subscriber base.

Fewer Barriers To Exit

Sales teams must be laser-focused on articulating their unique value proposition. There's much less customer lock-in with subscriptions because there's no upfront investment. Many millennials are "overwhelmed" by their subscriptions, and 43% say they plan to unsubscribe. Never before has a strong value proposition been more of a priority for sales teams.

Personalisation

Business value

With bank deposits, you post all transactions that are included in a single bank deposit. If you post a lump sum, it makes bank reconciliations easier to do. Also, if you need to register deposits that cover more than one business transaction, you might prefer to use deposits instead of general journal entries.

Feature details

Bank deposits let you maintain a transaction record that contains information that can be applied to outstanding invoices and credit memos.

By using bank deposits, you can easily view all transactions included in a deposit. Bank deposits also make bank reconciliation easier. These advantages make using deposits instead of general journal entries the preferred approach for registering deposits that cover more than one business transaction.

The Bank Deposit page specifies the bank account deposited into, total deposit amount, posting date, document date, dimensions, and currency code, as well as the deposit lines.

Deposit lines contain information about the individual deposited items, such as checks from customers, cash sales revenue, or refunds from vendors. This information includes the document date and number, account type and number, and amount. The total of the amounts on the deposit lines must add up to the total amount of the deposit entered on the deposit header before posting the deposit.

After you enter information about a deposit and add deposit lines, you must post the deposit to update the relevant ledgers, such as the bank ledger, general ledger, or customer ledger. The details about posted bank deposits are stored for future reference and are available on the Posted Bank Deposits page. Alternatively, you can also access the details when you do bank reconciliations.

The Deposit report displays customer and vendor deposits with the original deposit amount, the amount of the deposit that is still open, and the amount applied. The report also shows the total posted deposit amount to reconcile.

Find the bank deposits capabilities under Cash Management on the Business Manager and Accountant Role Centers. You can also use Tell Me to search for the Bank Deposits page.

Available in release 20.1:

You can now undo posted bank deposits. The action is found on the Posted Bank Deposits page and will reverse the G/L registers for the posted bank deposits.

If you have any further questions about Dynamics 365 Business Central, do not hesitate to contact us through our website

Business value

We've added support for projects where the party that is receiving a service is different from the party that is paying the bill. When a project manager creates a job, they can specify the customer who will benefit from the project, and this customer can be different from the company that will pay for the project. Additionally, the project manager can specify the place where the work will happen by selecting from a list of ship-to addresses for the customer, add information about external references to simplify communication about the project, and overwrite the standard financial terms of the specific project.

Feature details

We've added Sell-to and Ship-to field groups to the Jobs page. Existing jobs will be updated automatically, and these new fields will inherit values from the respective fields in the Bill-to group that was already available.

Additionally, the Your Reference, External Document No., Payment Terms Code, and Payment Method Code fields are added to jobs and will be respected when you create invoices.

Changes in the Job table and the Job Card page

Known issues (to be fixed in next minor update)

The Payment Method Code and Payment Terms Code fields are not populated with information from the customer selected in the Bill-To Customer No.field.

Business value

Maintenance of the chart of accounts takes place only a few times, once it's been set up for an organization, but it does occur. To help avoid accidental deletion of general ledger (G/L) accounts, this release wave adds an extra check.

Feature details

Though relatively rare, changing business needs might require you to make a change in your chart of accounts that involves deleting one or more accounts. Before you delete an account, you must balance the account to zero and then close the fiscal year to prevent new entries from being added to the account. Also, most countries and regions have requirements for how long businesses must store their financial data. To help ensure that you don’t delete an account that has entries within the period where they must be kept, you can specify the start date of the period for which your country or region requires you to store financial data in the Check G/L Acc. Deletion After field on the General Ledger Setup page. For example, If you must keep data for five years, and today’s date is 2/9/2022, you would enter a date of 12/31/2016. If you do, Business Central will inform you if you have accounts with entries that you must keep. You probably shouldn’t delete accounts that have entries, but you can if you must. It's one of the recent update in Microsoft Dynamics 365 Business Central

To further safeguard accounts from accidentally being deleted, we’ve added the Block Deletion of G/L Accounts toggle to the General Ledger Setup page. If you turn on the toggle, Business Central will prevent users from deleting accounts that have entries after the date that is specified in the Check G/L Acc. Deletion After field. If you must delete such accounts, a user who can access the General Ledger Setup page can turn off the Block Deletion of G/L Accounts toggle.

We recommend that you turn on the Block Deletion of G/L Accounts toggle and that you always have a date set in the Check G/L Acc. Deletion After field.

Over the last five years, brands have been making it easier for customers to shop and buy their products from anywhere and at any time. 

We come up with checklists targets common challenges that sales organisations face, with tips and tactics that can help. You won’t find a lengthy list of to - dos - our goal is to provide reader with a short set of concrete actions that will deliver the most impact.