Dynamics 365 Business Central Wave 2 Updates (2024) – Top Feature Updates Inside

Microsoft Dynamics 365 Business Central Wave 2 updates have been recently released and become a buzz in the market as they contain some important updates too. Microsoft is continuously investing in capabilities that focus on streamlining operations while accelerating the growth path. Leveraging insights and data based on market surveys, Microsoft has released the second wave of updates to enhance the overall effectiveness of their solution and streamline the entire business on the go. Before getting into the latest features of BC, let’s get an overview of this update.

Business Central Wave 2 Updates – Overview

Microsoft Business Central is a specialised ERP solution for small and medium businesses that can automate different core operations and connect different departments for enhanced collaboration. When it comes to scalability and adaptability with unique businesses, D365 BC shows exceptional performance. Also, it is easy to customise to meet the unique demands of the business and help them grow regardless of infrastructure and functionality.

With the latest release, Microsoft has enhanced the contribution of Microsoft Copilot in Business Central to help organisations optimise processes and leverage automation for improved output. Like, sales agents can now easily create sales orders directly from the customer chat, and users can create different forms of product information using few prompts.

Microsoft understands business expansion and thus supports them complying with various government regulations and VAT norms from the same platform. Also, it helps businesses comply with local accounting laws to make the financial transactions smooth and accountable.

In the last update, Microsoft has offered seamless integration with Dynamics 365 Field Service, and with this release, you can manage service orders too.

One of Dynamics 365 Business Central's important updates is the ability to track greenhouse gas emissions with improved reporting.

Business Central has increased its global availability in more than 180 countries, and it ensures that the business follows all local laws and regulations set by specific governments. So, doing business in different countries would be an issue with Business Central.

When it comes to data reporting, more than 70 Power BI reports have been added by Microsoft to make data analysis better and more competent.

Major Business Central Updates

In this section, we are going to discuss the major Business Central updates released by Microsoft in Wave 2.

Core Application Updates

Check out the few core application updates of Business Central:

Manage Subscription Billing and Expense Recognition

In general, there are two types of selling: first is paying one-time money for a good or service, and second is paying recurring amounts in return for goods or services. Now, Business Central supports recurring payments of goods and services, like a subscription basis, while managing all contracts. This new update empowers businesses to focus more on selling rather than managing sales processes.

Track Item Availability in Field Service from BC

This update has enabled the seamless integration of Business Central with Field Service. With this integration, all technicians and field service executives can avail the item availability insights for a specific product from a specific warehouse from Business Central. It supports businesses in optimising work order scheduling and eliminating any kind of unnecessary travel cost for the executive.

Reconcile Shopify Payment Transaction

As we know, Business Central integration with Shopify brings simplicity to e-commerce businesses by centralising online sales and collecting payments from different channels. With the new update, you can track all transactions, that includes sales, purchase, and return transactions, and add them into the general ledger to ensure proper accounting and reporting.

Manage Put-Away and Pick Warehouse with Projects Management

Businesses are now able to utilise warehouse activities with project management capabilities to build an effective flow of inventory and organise them for better efficiency. Also, you can now use warehouse locations to manage a directed flow of inventory data with projects.

Capture Information on Invoice with Azure AI Document Intelligence

Along with AI and BI technologies, Microsoft has started integrating Azure intelligence with the solutions of the Dynamics 365 ecosystem. With the new update, businesses can streamline document capture and OCR functionalities through Azure AI Document intelligence to collect data available on vendor’s invoices and receipts.

Copilot and AI Innovation Updates

Check out Business Central Wave 2 updates around copilot and AI innovation.

Build Power Automate Flows using Copilot

Power Automate lets the business establish the data flow between two processes while eliminating the repetitive tasks. The integration of Power Automate with Business Central enables the Copilot to enhance creativity by building Power Automate flows leveraging the intelligent capabilities of Copilot. You need to enter the prompt in the natural language to drive Copilot to make flows for you.

Utilise Copilot to Learn Working of New Apps

Copilot offers a conversational platform where a user can learn new things, resolve queries, understand data, and discover various ways to utilise a product. Whenever businesses install ISV solutions from Microsoft AppSource to power up the existing capabilities of Business Central, Microsoft Copilot can work like an AI- assistant to help you understand the workings of the latest Business Central configuration.

Speed Up Bank Reconciliation with Copilot

Bank reconciliation is one of the essential processes for a business that helps it cross-check all the payments with the bank in no time. With Business Central, you can avail yourself of it in real-time, along with tracking bank ledger entries. Currently, BC comes with rule-based transactions that reduce the efforts a business makes for bank reconciliation along with processing unmatched transactions frequently. With Copilot, you can automate the bank reconciliation process by automatically matching transactions of business with the bank. 

Country and Regional Updates

Check out some major updates of Business Central based on country and regional.

Integration with IRS

With the latest Business Central update, businesses can now automate the filling of IRS 1099 tax forms for taxpayers and businesses. Business Central comes with a direct integration with the IRS and submits tax forms directly along with sending a copy B to vendors. This newly added feature helps you set up the requirements of a tax form along with reporting to the IRS.

Added More Countries

Microsoft has added a few more countries, and now Business Central supports more than 180 countries. The availability to more countries directly influences businesses to perform global operations utilizing cloud computing technologies. Now, Business Central comes with built-in language support so that it can cater to a wide range of users.

Legislation Updates

Check out some Dynamics 365 Business Central updates around legislation.

Employ E-documents with Power Automate

Today, sharing documents digitally has become an essential part of business. Modern and growing businesses require a flexible solution to share the documents with the right set of people without any hassle. Now, you can leverage the advanced capabilities of Power Automate to use the e-document capabilities of Business Central. It lets you build a framework where you can share documents between two operations directly and without any disruption.

Use Multiple VAT Numbers for a Customer

Customers who have warehouses in many EU countries need to have unique VAT numbers for each location. Business Central streamlines this process by allowing you to create several posting groups and VAT numbers for each warehouse. By ensuring that Business Central automatically applies the appropriate VAT number and posting groups when you create sales papers with ship-to addresses in various countries, this simplifies your accounting and sales processes.

For more Business Central Wave 2 updates, feel free to call us at  0203 514 1057, or you can write us a detailed email at  info@dynamicssquare.co.uk with your query.