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Dynamics 365 for Sales Configuration

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In this module, we’re going to look at the various settings that you need to configure when setting up Dynamics 365 For Sales. Many of these are found in the Power Platform admin portal.
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First of all, sales territories. You can improve sales potential and revenues by creating territories for customers and market segments and Dynamics 365 For Sales. Then assign appropriate sales people to handle the sales and revenue opportunities for those territories. Sales territories improve the sales potential because the member of the territory are focused on the services or sales within that territory. You can associate the fiscal year directly with a territory and its members, which simplify business analysis. Also, based on the sales territory type and size, you can define sales methodologies and training required for those locations. The word “territory” implies geography. But this could be done for many different organisational reasons.
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Unlike business units that segregate users and data based on security and teams that can own and interact with shared data, territories are organisation for convenience, not for security. Note here, you can’t allocate the same user to multiple territories. If you need to assign a user to a larger area, in other words, more than one existing territory, create a new territory that includes the existing territories and then assign the user to that new territory. Dynamics 365 allows you to define sales territories. You can specify a name and the manager of the territory. Once you create, you can then add members. From this interface, you can also change and delete territories. Sales territories can be used for reporting, lead assignment, et cetera.
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Revenue types. When you look at default revenue types, we’re highlighting something that you need to be aware of when working with Dynamics 365 For Sales. There are two types of revenues, estimated revenue and actual revenue. The estimated revenue is system-calculated. But it can be overwritten, and a user can provide the revenue data. You can lock it in the form if you want, to prevent users from selecting something other than the estimated revenue. This is not necessarily a setting found with a group or other settings. It’s actually located in the entity definition for the opportunity entity. To edit this setting will require a quick edit to the option set to decide the default behaviour.
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And if you wish to lock the field so users must use only system-calculated, then that’s also a quick edit on the form to lock it. It’s also worth noting that if the user has entered the revenue and click back into the field, it will clear the field. They could go back to system-calculated if they want to autocalculate. When it comes to configuring auto numbers for Dynamics 365 For Sales, you can change the settings for quotes, orders, and invoice. You can change the prefix to something more aligned with your requirements, as well as the suffix length. Apart from that, no other edits can be made. Please note, you can add an auto number attribute for any entity.
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Currently, you can add the attribute programmatically. There is no user interface to add this type of attribute. Fiscal year settings. It is common in sales organisation to report sales goals. To set up sales goals correctly, you’ll also need to specify the fiscal year that you want to measure your goals against. You can specify the start date for the fiscal year and the period, quarterly, annual, semiannual, and monthly, or a four week period. It’s important to note, after you set the fiscal year options, it can be changed. But it is important that you validate any dependencies that will be affected. Fiscal year options affect the way in which your organisation’s data is stored in Dynamics 365 For Sales.
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For organisations that transact in multiple currencies, such as yen, peso, euro, or dollars, Dynamics 365 For Sales provides currency records to manage conversion rates. Subsequently, when pricing models are set up within the product catalogue, when opportunities, quotes, orders, and invoices are created, these currency records can accurately track pricing as it relates to the transaction. Additionally, the multi-currency functionality within Dynamics 365 For Sales tracks all transactions in a base currency for easy roll up reporting and analysis as well as the transactional currency. Settings that you can configure are the currency type, the currency code, the currency name, the currency precision, or the number of decimal places, and the currency symbol, as well as specifying currency conversion.
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The exchange rate is intended as a point in time reference to the base currency. If true, accurate, up-to-date exchange rates are important to your business, you must interact with a third party service. A discussion on this is beyond the scope of this course. Dynamics 365 and multi-currency systems, in which each record can be associated with its own currency, this currency is called a transaction currency. The multi-currency feature enables users to perform financial transactions, like opportunities, quotes, orders, and invoices, in multiple currencies. This feature also provides a currency choice to the end user when a fiscal transaction occurs. Multiple records and different transaction currencies can be aggregated, compared, or analysed, with regards to a single currency, by using an exchange rate.
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This is known as the base currency. You first define a base currency for the organisation and then define exchange rates to associate with the base currency and transaction currencies. The base currency is the currency in which other currencies are quoted. The exchange rate as the value of the transaction currency equal to 1 base currency. By using the transaction currency properties, you can do the following. You can select the currency in which you want to define and transact opportunities, quotes, orders, and invoices. You can define currency exchange rates relative to the base currency. You can define transaction currency and define an exchange rate to associate the base currency with transaction currency.
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You can capture the value of the transaction in the base currency and the transaction currency in all financial transactions. And you can define product price lists for each currency. It’s worth noting, the base currency cannot be changed. To edit settings on the base currency, you’ll need to go to System Settings from the administrative settings. Let’s take a quick look at goals. Dynamics 365 For Sales uses two record types, known as goal metrics and goals. These record types combine to provide a powerful flexible set of goal management features. Goal management allows organisations to track individual, teams, and organisation progress towards specific goals.
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Use goal metrics to specify the following basic information, the type of data in which the goal is defined, for example, a sales goal metric is often referred to as our money data type. The record type and field for which goal targets are entered in actual and in-progress values are tracked. These are referred to as roll-up fields. A typical goal metric for sales is defined for the opportunity record type and defines actual sales as opportunity records with the status of one goals. After goal metrics are defined, goals are created.
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Goals contain more specific information than goal metrics, including the following information– the goal metric of which the goal is based, the goal owner, the user or team to which the goal is assigned, the fiscal period for which the goal is created, and the target value of the goal for the financial period.

In the previous activity, we explored the concepts and features of Dynamics 365 for Sales. In this step, we’re going to demonstrate how to configure various settings in Dynamics 365 when setting the application up.

Many of the settings that need to be configured can be found in the Power Platform Admin Portal. Here we will configure sales territories, default revenue groups, auto number settings, business closures, the fiscal year and currencies.

Sales Territories

You can improve sales potential revenues by creating territories for customers in market segments. These territories can be assigned to the appropriate salespeople to handle the sales and revenue opportunities for those territories.

Advantages of setting up sales territories include:

  • Improved sales potential because the member of the territory is focused on the services or sales within a specified territory
  • Simplified business analysis by associating territories and its members to the fiscal year
  • The ability to define sales methodologies and training required based on the sales territory types and sizes.

Although territory implies geographical segments, it can also apply to many other organisational reasons. Unlike business units that segregate users and data based on security and teams that can own and interact with shared data, territories are organisation for convenience, not for security.

Default Revenue Groups

Dynamics 365 for Sales make provision for two types of revenue: estimated revenue and actual revenue. The estimated revenue is system calculated but it can be overwritten and the user can provide the revenue data.

You can lock revenue editing in the form if you want to prevent users from selecting something other than the estimated revenue. This setting is however not found in the group or other settings, but rather in the entity definition of the opportunity entity.

Auto Number Settings

The auto-number settings in Dynamics 365 for Sales allows you to change the settings for quotes, orders and invoices, and you can change prefixes and the length of suffixes.

You can also add auto-number attributes for an entity and you can add attributes programmatically.

Fiscal Year

Organisations use sales goals to track and report on sales performance. To set your sales goals up correctly in Dynamics 365 for Sales, you will need to specify the fiscal year that you want to measure your goals against.

In the fiscal year settings, you can specify the start date for the fiscal year as well as various periods, such as quarters, annual, semiannual and monthly or four week periods.

Once you have set up your fiscal year options, you can change the options if required but will need to validate any dependencies that will be affected by the changes.

Currencies

Multiple Currencies

Dynamics 365 for Sales provides you with the option to transact in multiple currencies. It provides currency records to manage conversion rates. Your currency records are linked with your product catalogue and sales process flow and tracks pricing as it relates to transactions.

The multicurrency functionality within Dynamics 365 for Sales tracks all transactions in a base currency for easy roll-up reporting and analysis. The transactional currency settings that you can configure include the currency type, code, name, precision or number of decimal places, symbol and the conversion.

It is important to remember that the exchange rate is intended as a point in time reference to the base currency. If you require true and accurate exchange rates, you can interact with a third-party service for assistance.

Transaction Currency

Within Dynamics 365 for Sales, records can be associated with its own currency. This is referred to as transaction currency. This means that you can perform financial transactions such as opportunities, quotes, orders and invoices in multiple currencies and choose the relevant currency when the fiscal transaction occurs.

Base Currency

You have the functionality to aggregate, compare and analyse records in different transaction currencies in a single currency using an exchange rate. This is known as the base currency and is the first currency that is defined for the organisation. Exchange rates are defined based to associate with the base currency and transaction currency.

The base currency is the currency in which other currencies are quoted, and the exchange rate is the value of the transaction currency equal to one base currency.

By using the transaction currency properties, you can:

  • Select the currency in which you want to define and transact the opportunities, quotes, orders and invoices
  • Define currency exchange rates relative to the base currency
  • Define transaction currency and an exchange rate to associate the base currency with the transaction currency
  • Capture the value of the transaction in the base currency, the transaction currency and all financial transactions
  • Define product priceless for each currency

Goals

Dynamics 365 for Sales uses two record types known as goal metrics and goals. These record types combine to provide a powerful, flexible set of goal management features. Goal management allows organisations to track individual, team and organisation progress towards specific goals.

Goal Metrics

To set up goals, you first have to define goal metrics. You can use goal metrics to specify:

  • The type of data in which the goal is defined
  • The record type and field for which goal targets are entered and actual and in-progress values are tracked
  • The goal metric for the opportunity record

Goal Creation

After goal metrics are defined, you can create goals.

Goals contain more specific information than goal metrics and include:

  • The goal metric on which the goal is based
  • The goal owner, user or team to which the goal is assigned
  • The fiscal period for which the goal is created
  • The target value of the goal for the financial period
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