New Ledger account only journal using new journal framework
Important
Some of the functionality described in this release plan has not been released. Delivery timelines may change and projected functionality may not be released (see Microsoft policy). Learn more: What's new and planned
| Enabled for | Public preview | General availability |
|---|---|---|
| Users by admins, makers, or analysts | Jul 2025 | Sep 2025 |
Business value
Most organizations heavily use the financial journals, such as the general journal, vendor/customer payment journals, and vendor invoice journal. The wide use of these journals has an impact on the efficiency of daily tasks, and especially at period end. The goal of this series of features is to address the following challenges faced by users when using the financial journals:
- Unacceptable performance for importing, validation, and posting of large journals.
- No support for a 'true' global or multicompany journal, which allows entry of vouchers for different legal entities within a single journal. This is necessary to support how organizations work, which is by management of business units/regions/cost centers rather than by legal entity. -
- Transactions that can't be easily reversed due to limitations in the current design.
- Financial dimensions that don't default for the originating company when an intercompany voucher is entered on multiple lines.
- No ability to preview accounting entries prior to posting.
- Poor visibility into errors per voucher.
Feature details
The primary focus of this release is creating a new set of financial journals using the new journal framework. For this wave, we'll begin by focusing on the architecture of a new journal framework. During this phase, we are taking into consideration the goodness of the current journals while also addressing the challenges faced by finance users. For the first release of the new journal framework, we will introduce a new general journal that supports the following:
- Ledger account adjustments only (for phase 1).
- Exponentially better performance for the end-to-end process of importing, validation, and posting of vouchers/journals.
- Importing and manual entry of vouchers for multiple companies within a single journal. For example, you can create a journal and enter transactions for USMF and USSI without creating a new journal and signing in/out. This will be limited to legal entities based on your security access.
- Move processing down to the voucher level. Validation, approvals, and posting can be initiated at the journal level still, but the processing will be done at the voucher level.
- Introduction of a 'Voucher type' that is used to identify what type of transaction is being entered. This allows for better lifecycle control of each type of transaction.
- New entities for both Odata and DMF for the new general journal.
Important
The existing financial journals will not change and will not be deprecated.
As the new journal framework is finalized, all financial journals will continue to evolve as follows:
- Add support for the additional account types (vendor, customer, assets, project, bank, and so on) to the general journal.
- Evaluate all other journals and determine how to create a new version of those journals using the new journal framework.
- Improve the reversal experience for all voucher types.
- Reevaluate existing functionality such as how accrual entries are posted or how periodic journal/voucher templates work.
- Address the data model issues to fix the One voucher issues.
- Evaluate the addition of new journals such as a bank transfer journal.
As new journals are introduced with the new journal framework, they will be communicated with new release plan features.
