Automatic account selection   You can use automatic account type selection when you create a ledger account. When you enter the first character in the Ledger account field in the form, the account type is entered automatically.

Use the Chart of accounts form and the form to set up the automatic account selection functionality.

Group totals   This new option in the Account type field in the Chart of accounts form creates a sum of all accounts, starting with the account number of the group total account. The Group total account type is selected automatically, depending on the value that is selected in the Group total account length field in the form.

Group totals can be printed in standard reporting, for example, in the Financial statement form and in the Balance list with group total accounts and Transaction list by account ledger reports.

View ledger account balance by dimension   In the Chart of accounts form, you can view the balance for a selected ledger account by dimension.

To use this functionality, you must set up dimension focuses, including a focus for single dimensions, in the form. For more information, see View the balance by dimension.

Send exchange rates electronically   You can send exchange rates electronically in XML format. For more information about setting up the format, see How to send and receive documents electronically.

New exchange rates for consolidation   In a consolidated company, you can specify closing rate and average rate exchange rates. The rates are applied to the balances and transactions of subsidiaries that are added to the consolidated company according to the consolidation conversion principle that has been selected for each ledger account in the consolidated company. For more information about changes to the consolidation functionality, see Exchange rates (form).

Express exchange rate   The exchange rate in the Exchange rate field in the form is expressed as the number of units of the foreign (non-company) currency that is indicated in the Express exchange rate field on the Ledger tab in the General ledger parameters form.

Budgeting on total accounts   You can create a budget for a ledger account with a Total account type in the Chart of accounts form. Select the ledger account and click Ledger budget.

Dimension focus   To use dimensions in reports, such as the dimension statement, and to view balances by dimension, you must create dimension focuses. A dimension focus is a dimension, including the ledger account as a dimension, or a combination of dimensions. When used in reports, dimension focuses are used to sort transactions correctly and to display the results in the correct order.

Improved balance by dimension   You can view the balance of a ledger account by dimension and dimension focus.

Dimension wizard   If your company has purchased additional dimensions, you can use a wizard to set up and activate new dimensions. To start the wizard, click Tools > Development tools > Wizards > Financial Dimension Wizard.

Dimension blocking   If a dimension is not currently used, you can block the dimension so that transactions aren't posted to it. For more information, see Dimensions (form).

Dimension sets   You can use a dimension set—a grouping of selected dimensions sorted with a specific priority—to define relationships between dimensions and, thereby, all dimension values of the dimensions. The dimension sets are the building blocks of the dimension set hierarchies. For more information, see Create a dimension set.

Dimension set hierarchies   For each dimension set, you can define combinations of dimension values that limit the dimension values that can be posted together. For example, the Department dimension value Admin contains only the Cost center values Finance and Human resources, and no other cost center values can be used with the Admin dimension value. For more information, see Create dimension set hierarchies.

Dimension set rules   For each dimension set hierarchy, you can define rules that restrict the dimension set hierarchies that can be applied to specific ledger accounts or used in particular journals or tables. For more information, see Create dimension set rules.

Dimension focus   You can define an identification of a single dimension, including the ledger account, or a combination of dimensions to use in balance statements and reports. In one report, for example, you might use a focus of ledger account, department, and purpose; and in another, you might use a focus of department and ledger accounts. You also can use a dimension focus as a main or secondary focus of the row structure in financial statements and in dimension statements.

For more information, see Set up dimension focuses.

Row structure of the financial statement   For each financial statement, you can create a report structure that is based on row definitions. Row definitions display data by ledger account and dimension value in various combinations. For example, one row definition might be based on cost centers, a second definition on ledger accounts, a third definition on ledger accounts and department, and a fourth definition on department and cost centers. After you create the row definition in the Row definition form, click Structure designer to create the detailed structure of the financial statement with this row definition.

For more information, see Design the row structure of a financial statement.

Enhanced formatting of financial statement   There are additional formatting possibilities for the financial statement in the form.

Enhanced printing and export of the financial statement   You can print a standard financial statement in the form, export the statement to a file, or create an XBRL-based statement.

Post multiple journals   You can post multiple open journals created in General ledger, Accounts receivable, Accounts payable, and Project immediately or set up a batch processing job to post the journals automatically. For more information, see Post multiple journals.

Express exchange rate   The exchange rate on journal lines is displayed as the number of units of the foreign, non-company currency that is indicated in the Express exchange rate field on the Ledger tab in the General ledger parameters form.

Accrual ledger transactions   You can create an accrual scheme to be sure that an expense or income is posted in the period in which it occurs, regardless of whether the related payment has been made or received in that period. For more information, see Create an accrual scheme and Create ledger accrual transactions.

Reverse a transaction   You can reverse a transaction and all related transactions that were created when the original transaction was posted. You cannot reverse a transaction in a previous fiscal year. For more information, see Reverse a transaction.

Revoke a reversed transaction   You can revoke a reversed transaction. For example, you must revoke a reversed transaction in order to change the transaction date of the original posting. For more information, see Revoke a reversed transaction.

Period status Year closed   You can close the fiscal year when all fiscal periods for the year have been closed manually in the form. The new status is Year closed and is displayed in relevant queries and reports.

Consolidation conversion principle   You can consolidate subsidiary data that is recorded in foreign currencies in accordance with Regulation 52 of the Generally Accepted Accounting Principles (GAAP), which are created and interpreted by the Financial Standards Accounting Board (FASB) and the International Account Standards (IAS).

Following the translation method that is required in your country/region, you can select different exchange rates for various types of ledger accounts in the consolidated company. You also can specify the account in the consolidated company to which exchange differences will be posted. For more information, see Consolidations.

Sales tax jurisdictions   The sales tax functionality for the United States includes an additional group of sales tax codes—the sales tax jurisdiction—which is added to the sales tax group. For more information, see United States sales tax.

Conditional sales tax   You can activate the Conditional sales tax field in the form if sales tax is not reported until an invoice is settled. To use conditional sales tax, you also must set up sales tax codes, sales tax groups, and create ledger posting groups. For more information, see Set up conditional sales taxes.

Sales tax rate, print code, or exempt code printed on invoices   You can print the sales tax rate of the sales tax code and also print a print code that is attached to the sales tax code as the sales tax specification on invoices to comply with the EU 115 requirements. On the General tab of the form, select Sales tax rate in the Print field for the relevant sales tax codes, or select Print code and enter information in the Print code field.

You can also enter an exempt code (reason) for sales tax exemption in the form.

Withholding tax is tax on non-inventory deliveries (often services) that are delivered by a supplier who is not an employee of the company. The supplier submits an invoice for services to the buying company and receives payment for the invoice.

In many countries/regions, the buyer is legally responsible for paying withholding tax and a certain percentage of the invoice amount at the time of payment and the net amount (invoice amount minus the withholding tax) is paid to the supplier. The tax, which has been withheld, is posted to a ledger account for withholding tax and is periodically paid to the tax authorities. For more information, see Withholding tax.

User group access rights to journals are now displayed in the Journal names form. If your company is upgrading to 4.0, the first user group in the Journal control form is moved to the new Private for user group field in the Journal names form.

If more than one user group was given access to the journal in Microsoft Axapta 3.0, a new user group containing the combined users from these groups must be created and then selected in the Private for user group field.