To start development in Microsoft Dynamics 365 for Finance and Operations, you need to create a model. To create a new model, open Visual Studio in the Finance and Operations development environment, click on the Dynamics 365 menu in the toolbar, select Model Management, and then click on Create model.... This opens up a wizard that you can use to create the model. The following screenshot shows the process of creating a model:
The first step in the model creation process is to provide a model name, publisher, layer, description of the model, and model display name, as shown in the preceding screenshot.
Next, you select the Create new package option and click Next. The next step will be to Select referenced packages and click Next to get to the Summary page. On the Summary page, validate the information and click Finish to create the model that is shown in the following screenshot:
To learn more about creating a new model, please refer to https://docs.microsoft.com/en-us/dynamics365/unified-operations/dev-itpro/dev-tools/create-data-model-elements.