Folders, Automatic Journals and L4G — three constructs that have no direct D365 counterpart.
The defining translation
Sage X3 keeps its configuration, master data and parameterisation inside a Folder that can span several companies, and derives accounting from Automatic Journals resolved through Accounting Codes. D365 F&O has no Folder: it has legal entities inside an environment, shared versus company-scoped tables, and posting profiles. Add an L4G/Adonix customisation estate layered through SPE, SPV and SUB entry points, and the programme becomes a redesign rather than a conversion.