Microsoft Dynamics 365 Finance MB-310 Free Practice Exam

1. Note: This question is part of a series of questions that present the same scenario. Each question in the series contains a unique solution that might meet the stated goals. Some question sets might have more than one correct solution, while others might not have a correct solution.

After you answer a question in this section, you will NOT be able to return to it. As a result, these questions will not appear in the review screen.

You are configuring the year-end setup in Dynamics 365 for Finance and Operations.

You need to configure the year-end setup to meet the following requirements:

- The accounting adjustments that are received in the first quarter must be able to be posted in to the previous year’s Period 13.

- The fiscal year closing can be run again, but only the most recent closing entry will remain in the transactions.

- All dimensions from profit and loss must carry over into the retained earnings.

- All future and previous periods must have an On Hold status.



Solution:

- Configure General ledger parameters.

- Set the Delete close of year transactions option to Yes.

- Set the Create closing transactions during transfer option to Yes.

- Set the Fiscal year status to permanently closed option to No.

- Define the Year-end close template.

- Designate a retained earnings main account for each legal entity.

- Set the Financial dimensions will be used on the Opening transactions option to No.

- Set the Transfer profit and loss dimensions’ option to Close All.

- Set future Ledger periods to a status of On Hold.

Does the solution meet the goal?

2. You work for a company that receives invoices in foreign currencies.

You need to configure the currency exchange rate providers and exchange rate types.

What should you do?

3. You are configuring the Fixed assets module for a Dynamics 365 Finance environment.

You need to create a fixed asset.

Which two settings are required? Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point.

4. DRAG DROP

You are implementing Dynamics 365 Finance. A new product is being released.

The system must track the probability of the new product by cost center and you must use the cost control workspace.

You need to configure the system.

Which option should you use? To answer, drag the appropriate option to the correct requirement. Each value may be used once, more than once, or not at all. You may need to drag the split bar between panes or scroll to view content. NOTE: Each correct selection is worth one point.

5. You are a functional consultant for a legal entity named Contoso Group (GLCO).

You plan to sell new products that will increase in quality over time.

You need to implement a solution that uses the Last in, First out (LIFO) inventory model for GLCO.

To complete this task, sign in to the Dynamics 365 portal.

6. You need to identify the root cause for the error that User5 is experiencing.

What should you check?

7. HOTSPOT

A company has delinquent customers.

You need to configure Dynamics 365 for Finance and Operations to meet the following requirements:

• Send communication to the customers detailing their past-due invoices.

• Use the system to automatically calculate a late charges,

• Create a group of customers for a collection agent to monitor.

• View a list of customers with colored indicators of a customer's payment status.

You need to associate the correct system functionality to manage delinquent customers based on these business requirements.

8. You need to configure the posting groups for Humongous insurance s subsidiary.

Which ledger posting group field should you use?

9. HOTSPOT

You are asked to configure foreign currency revaluation in Dynamics 365 for Finance and Operations. You are viewing the main accounts.





Use the drop-down menus to select the answer choice that answers each question based on the information presented in the graphic. NOTE: Each correct selection is worth one point.

10. You need to configure system functionality for pickle type reporting.

What should you use?

11. A client uses Dynamics 365 for Finance and Operations for accounts receivable.

You need to configure the method of payment to enforce the accounts receivable clerk to enter the wire number for the received electronic payment.

Which item should you set up as mandatory?

12. HOTSPOT

You need to identify why the sales orders where sent to customers.

Which configuration allowed the sales orders to be sent? To answer, select the appropriate configuration in the answer area. NOTE: Each correct select is worth one point.

13. A client wants Dynamics 365 Finance to calculate sales tax on a sales order line once an item is added. The sales tax group is already populated with a value.

You need to ensure that the sales tax will calculate.

Which field should you populate?

14. HOTSPOT

You are implementing a Dynamics 365 for Finance and Operations General ledger module for a client that has multiple legal entities.

The client has the following requirements:

• Post journal entries for all companies from one legal entity.

• Configure automatic creation of due to/due from transactions based on when LegalEntityA transacts with LegalEntityB.

• Automatically split the dollar amount in half between DimensionA and DimensionB when the journal is posted.

• Set up fixed or variable allocations, and then review the allocations in a journal before posting,

• Automatically post year-end results to account 30016 during year-end close.

You need to configure the system.

Which system capability should you configure? To answer, select the appropriate configuration in the answer area.

15. A client has multiple legal entities set up in Dynamics 365 for Finance and Operations. All companies and data reside in Finance and Operations.

The client currently uses a separate reporting tool to perform their financial consolidation and eliminations. They want to use Finance and Operations instead.

You need to configure the system and correctly perform eliminations.

Solution: Set up Elimination rules in the system. Then, run an elimination proposal. Configure the rules to post to any company that has Use for financial elimination process selected in the legal entity setup.

Does the solution meet the goal?

16. A company uses Dynamics 365 Finance to manage budgets.

You need to reallocate funds during the year.

Which budget code should you use?

17. DRAG DROP

A company uses basic budgeting functionality in Dynamics 365 Finance.

A budget manager plans to review and approve budget register entries m the system.

You need to set up approval workflows.

Which four actions should you perform m sequence? To answer, move the appropriate actions from the list of actions to the answer area and arrange them m the correct order.

18. DRAG DROP

A retail company has outlets in multiple locations. Taxes vary depending on the location.

You need to configure the various components of the tax framework.

In which order should you perform the actions? To answer, move all actions from the list of actions to the answer area and arrange them in the correct order.

19. A customer uses the sales tax functionality in Dynamics 365 Finance.

The customer reports that when a sales order is created, sales tax does not calculate on the line.

You need to determine why sales tax is not calculated.

What are two possible reasons? Each correct answer presents a complete solution. NOTE: Each correct selection is worth one point.

20. HOTSPOT

You need to ensure accounting entries are transferred from subledgers to general ledgers.

How should you configure the batch transfer rule? To answer, select the appropriate options in the answer area. NOTE: Each correct selection is worth one point.

21. DRAG DROP

A customer implements Dynamics 365 Finance You need to configure bank reconciliation settings.

What should you do? To answer, drag the appropriate configuration options to the correct requirements.

Each configuration option may be used once, more than once, or not at all you may need to drag the spirt bar between panes or scroll to view content. NOTS: Each correct selection is worth one point.

22. HOTSPOT

You need to configure currencies for the legal entities.

How should you configure currencies? To answer, select the appropriate options in the answer area. NOTE: Each correct selection is worth one point.

23. 1. Topic 1, Fourth Coffee Case Study



Case study

This is a case study. Case studies are not timed separately. You can use as much exam time as you would like to complete each case . How ever, there may be additional case studies and sections on this exam. You must manage your time to ensure that you are able to complete all questions included on this exam in the time provided.



To answer the questions included in a case study, you will need to reference information that is provided in the case study. Case studies might contain exhibits and other resources that provide more information about the scenario that is described in the case study. Each question is independent of the other questions in this case study.



At the end of this case study, a review screen will appear. This screen allows you to review your

answers and to make changes before you move to the next section of the exam. After you begin a

new section, you cannot return to this section.



To start the case study

To display the first question in this case study, click the Next button. Use the buttons in the left pane

to explore the content of the case study before you answer the questions. Clicking these buttons

displays information such as business requirements, existing environment, and problem statements.

If the case study has an All Information tab, note that the information displayed is identical to the

information displayed on the subsequent tabs. When you are ready to answer a question, click the

Question button to return to the question.



Background

Fourth Coffee is a coffee and supplies manufacturer based in Seattle. The company recently purchased CompanyA, based in the United States, and CompanyB, based in Canada, in order to increase production of their award-winning espresso machine and distribution of their dark roast coffee beans, respectively.



Fourth Coffee has set up CompanyA and CompanyB in their Dynamics 365 Finance environment to gain better visibility into the companies' profitability. CompanyA and CompanyB will continue to operate as subsidiaries of Fourth Coffee, but all operational companies will be consolidated under Fourth Coffee Holding Company in US dollars (USD) for reporting purposes.



The current organizational chart is shown below:





Current environment

Systemwide setup

* Dynamics 365 Finance in Microsoft Azure is used to manage the supply chain, retail, and financials.

* All companies share a Chart of Accounts.

* Two dimensions are used: Department and Division.

* Budgeting is controlled at the department level.

* Customers and vendors are defined as two groups: Domestic and International.

* Mandatory credit check is set to No.

* Consolidate online is used for the consolidation of all companies.

* International main accounts are subject to foreign currency revaluation.

* The purchasing budget is used to enforce purchasing limits.



General ledger accounts







Fourth Coffee

* The base currency is USD.

* Three item groups are used: coffee, supplies, and nonstock.

* The standard sales tax method is used.

* Acquiring fixed assets requires a purchase order.

* All customer payment journals require a deposit slip.

* CustomerX is a taxable company.

* CustomerY is a tax-exempt company.

* CustomerZ is a taxable company.

* VendorA is a Colombian supplier of coffee beans and belongs to the international vendor group.

* VendorB is a Peruvian supplier of coffee machine filters and belongs to the international vendor group.

* VendorC is a Texas supplier of espresso valves and belongs to the domestic vendor group.



CompanyA

* The base currency is USD.

* It consists of a marketing department and a digital division.

* A 4-5-4 calendar structure is used.

* The standard sales tax method is used.



CompanyB

* The base currency is CAD.

* The conditional sales tax method is used. Requirements



Reporting

* A consolidated Fourth Coffee financial report is required in USD currency.

* Fourth Coffee and its subsidiaries need to be able to report sales by item type.

* Year-end adjustments need to be reported separately in a different period to view financial reporting inclusive and exclusive of year-end adjustments.



Issues

* User1 observes that a General journal was used in error to post to the Domestic Accounts

Receivable trade account.

* User2 has to repeatedly reclassify vendor invoice journals in Fourth Coffee Company that are posted to the marketing department and digital division.

* When User3 posts an Accounts receivable payment journal, a deposit slip is not generated.

* User4 observes an increase in procurement department expenses for supplies.

* User5 observes that sales tax is not calculating on a sales order for CustomerZ.

* User6 observes that sales tax is calculating for CustomerY.

* User7 observes that the sales tax payment report is excluding posted invoice transactions.

* User8 in CompanyA attempts to set up the sales tax receivable account on the sales tax posting form.

* User9 in CompanyA needs to purchase three tablets by using a purchase order and record the devices as fixed assets.

* CustomerX requires a credit check when making a purchase and is currently at their credit limit.



HOTSPOT

You need to configure settings to resolve User1’s issue.

Which settings should you use? To answer, select the appropriate options in the answer area. NOTE: Each correct selection is worth one point.

24. Topic 4, Adtum Corp.



Case Study

This is a case study. Case studies are not timed separately. You can use as much exam time as you would like to complete each case. However, there may be additional case studies and sections on this exam. You must manage your time to ensure that you are able to complete all questions included on this exam in the time provided.



To answer the questions included in a case study, you will need to reference information that is provided in the case study. Case studies might contain exhibits and other resources that provide more information about the scenario that is described in the case study. Each question is independent of the other questions in this case study.



At the end of this case study, a review screen will appear. This screen allows you to review your answers and to make changes before you move to the next section of the exam. After you begin a new section, you cannot return to this section.



To start the case study

To display the first question in this case study, click the Next button. Use the buttons in the left pane to explore the content of the case study before you answer the questions. Clicking these buttons displays information such as business requirements, existing environment, and problem statements. If the case study has an All Information tab, note that the information displayed is identical to the information displayed on the subsequent tabs. When you are ready to answer a question, click the Question button to return to the question.



Travel and expense

The company is currently In Phase 2 of their Dynamics 365 finance Implementation.

• Consultants submit all travel receipts by using inter-office mail to the team admin for processing, but first Up Consultants wants to modernise this experience.

• Expense reports are manually approved and signed by the employee's manager.



Finance

• First Up Consultants operates on a 4-5-4 calendar.

• Accounting, for revenue has been difficult with the SaaS offerings. This has led to implementing Dynamics 365 Finance Revenue recognition.

• Revenue recognition has been live for J months.

• Adatum Corporation pays Quarterly for use of the First Up Consultants web design

application, starting from the day of use

• Fourth Coffee pays monthly for use of the First Up Consultants photograph editing application, with a contract starting August I and payment starting September I.

• Adventure Works Cycles pays per use of the First Up Consultant video platform.

• A blocking rule is set up to prevent a sales order from processing if a customer exceeds a credit limit. - Customer credit is set up at the account level for VanArsdel, Ltd.

• Tailspin Toys is owned by Wingtip Toys. The companies have a credit limit of S60.000 and $100,000, respectively.



Tax

VAT tax recovery is required for eligible international business trip expenses. Bank reconciliation is manual and performed by using monthly mailed account statements.

The company collects vales taxes from the following states:







Requirements

Travel and expense

• First Up Consultants requires that employees start using corporate cards for all travel expenses.

• All expenses over the require a receipt.

• Beer cannot be expensed

• Employees may use the corporate card for personal expenses during work travel, but expenses must be categories correctly.

• Client entertainment expenses totaling more than $250 must be audited.

• Employees require a mobile expense experience

• Expense report entries must be validated when a transaction Iine is entered.

• Employees require the ability to capture receipt* by using a mobile device.

• First Up Consultants requires the ability to reimburse employees in their paychecks for expenses incurred on personal cards.



Financial

• A virtual thirteenth month is required for year-end transactions.

• Each day. a validation file must go to First Up Consultants" bank detailing all vendor checks paid.

• Except fees, all matched transactions must clear automatically during bank reconciliation.

• The accounts payable team must verify expense reports prior to posting.

• Only payables are allowed to be posted to a poor period up to seven days into the new period



Issues

• User1 Installed the expense Management Service add-in and implemented the auto-match and create expense from receipt features, but the receipt images do not match the corporate card transactions

• Employee 1 submits an expense report for a business trip to Europe, but the report is not visible on the expense tax recovery page.

• Employees prowled feedback that the system lets them know of an expense report policy violation only after the entire expense report is submitted.

• Members of the finance department observe sales orders that posted into a closed period.

• The finance team observed that for sales order invoice 1234. the price incorrectly posts to a revenue account when it should be deferring.

• Fmployee2 purchased supplies for a holiday patty and needs to be reimbursed

• A customer orders software licenses for the offices in Tennessee and Alabama

• Expense reports for unapproved items are posting.

• VanArsdel. Ltd. exceeded its credit limit but the sales order was processed.

• Tailspin Toys purchase $70,000 in custom software development



You need to configure the system to meet the fiscal year requirements.

What should you do?

25. HOTSPOT

A company implements expense management in Dynamic employee travel expenses.

The current per diem setup on the Expense management parameters page is as follow:





Use the drop-down menus to select the answer choice that that answers each question based on the information presented in the graphic.

26. You are contouring Dynamics 365 Finance

Transactions are being approved tor all sales transactions. This configuration results in numerous fraudulent transactions.

The payment prowler requires verification of the following information in order to authorization transaction.

• account hotter name

• billing address

• postal code

You need to configure the system to only approve transactions with a verified address.

Which option should you select for credit card authorization?

27. A client needs guidance on month-end closing procedures.

The client needs to be able to stop all teams except Accounts payable and General ledger from posting

transactions for the month.

You need to configure Dynamics 365 Finance to allow only those two teams to transact during the period

being closed.

Which three actions should you perform? Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point.

28. A client wants general journals to be used only to post ledger-type transactions.

You need to set up journal configuration to achieve the requirement.

Solution: Set up posting restrictions on the general journal.

Does the solution meet the goal?

29. A company implements basic budgeting functionality in Dynamics 36S Finance.

The company wants to allocate budget register entries for payroll expense amounts to each department based on a predetermined percentage.

You need to configure the allocation.

Which functionality should you use?

30. DRAG DROP

You need to configure ledger allocations to meet the requirements.

What should you configure? To answer, drag the appropriate setups to the correct requirements. Each setup may be used once, more than once, or not at all. You may need to drag the split bar between panes or scroll to view content. NOTE: Each correct selection is worth one point.

31. HOTSPOT

You plan to implement Dynamics 365 Finance.

You need to configure the system to meet the following requirements:

✑ Post vendor invoices in a journal.

✑ Create payments to vendors.

✑ Post headcount transactions.

✑ Process intercompany transactions.

Which journal types should you use? To answer, select the appropriate configuration in the answer area. NOTE: Each correct selection is worth one point.

32. You are a functional consultant for Contoso Entertainment System USA (USMF).

You plan to settle accounts by receiving cash payments in US currency.

You need to create a cash receipts journal that uses the US dollar currency.

To complete this task, sign in to the Dynamics 365 portal.

33. HOTSPOT

You need to configure invoice validation for vendors in Dynamics 365 for Finance and Operations. You are viewing the Accounts payable parameter for Invoice validation.





Use the drop-down menus to select the answer choice that answers each question based on the information presented in the graphic. NOTE: Each correct selection is worth one point.

34. You need to ensure the promotional gifts are posted to the correct account.

What should you use?

35. A company is preparing to complete a year-end close process.

You need to configure the Dynamics 365 for Finance and Operations General ledger module.

Which three configurations must you use? Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point.

36. You are configuring the basic budgeting for a Dynamics 365 Finance environment.

You need to configure the types of entries allowed.

Which two configurations can you use? Each correct answer presents a complete solution. NOTE: Each correct selection is worth one point,

37. Note: This question is part of a series of questions that present the same scenario. Each question in the series contains a unique solution that might meet the stated goals. Some question sets might have more than one correct solution, while others might not have a correct solution.

After you answer a question in this section, you will NOT be able to return to it. As a result, these questions will not appear in the review screen.

You are managing credit and collections.

You need to set up mandatory credit limits for all customer documents.

Solution: Define a credit limit for each customer and select Mandatory credit limit check box on the Customers form.

Does the solution meet the goal?

it limit

38. HOTSPOT

A company is implementing Dynamics 365 Finance.

The company must be able to record sales orders in the following currencies: USD. EUR, and GBP. Company A uses USD as the accounting and reporting currency

Company B uses GBP as the accounting and reporting currency.

Each company is consolidated into Company CON that uses EUR as the accounting and reporting currency.

Assets and liabilities are revalued at the current exchange rate.

You need to configure the system to meet the requirement.

Which option should you use? To answer, select the appropriate options in the answer area. NOTE: Each correct selection is worth one point.

39. HOTSPOT

A client needs to configure Accounts payment vendor methods of payment to meet the following business requirements:

✑ Configure the electronic method of payment to create one electronic payment for all of the invoices due.

✑ Configure the system to ensure that all payments made with an electronic method of payment also forces the user to select which payment has been used.

You display the Methods of payment setup screen.





Use the drop-down menus to select the answer choice that answers each question based on the information presented in the graphic. NOTE: Each correct selection is worth one point.

40. A client has multiple legal entities set up in Dynamics 365 for Finance and Operations. All companies and data reside in Finance and Operations,

The client currently uses a separate reporting tool to perform their financial consolidation and eliminations, They want to use Finance and Operations instead.

You need to configure the system and correctly perform eliminations.

Solution: Create a separate company in which you manually create the eliminations. Then, use that company in Financial reporting or in the consolidation process.

Does the solution meet the goal?

41. DRAG DROP

You are configuring a Dynamics 365 Finance environment for intercompany accounting.

You create the following legal entities:

✑ CompanyA

✑ CompanyB

You need to configure intercompany accounting for both legal entities.

Which three actions should you perform in sequence? To answer, move the appropriate actions from the list of actions to the answer area and arrange them in the correct order. NOTE: More than one order of answer choices is correct. You will receive credit for any of the correct orders you select.

42. HOTSPOT

You are implementing Dynamics 365 Finance.

The company charges a convenience cost of $1S foe payments received from customers as an electronic fund transfer (EFT). The company also charges 10 percent interest on invoices that are not paid within the 30-day net terms

You need to configure the system

Which option should you configure? To answer, select the appropriate options in the answer area NOTE: Each correct selection is worth one point.

43. You are a functional consultant for Contoso Entertainment System USA (USMF).

You need to generate a trial balance report for the period of January 1, 2017 to December 31, 2017.

To validate you results, save the file in Microsoft Excel format to the DownloadsTrial folder.

To complete this task, sign in to the Dynamics 365 portal.

44. HOTSPOT

A rental service company hires you to configure their system to implement accrual schemes.

You need to configure the accrual schemes for this company.

Which configuration and transaction options should you use? To answer, select the appropriate options in the answer area. NOTE: Each correct selection is worth one point.

45. You are the accounts receivable manager of an organization. The organization recently sold machinery to a customer. You need to registers transaction for the sale of the machinery by using a free text invoice for fixed assets.

Which transaction type should you use?

46. You need to address the employees issue regarding expense report policy violations.

Which parameter should you use?

47. DRAG DROP

A client has Accounts payable invoices in their legg entity in three different currencies. It is month-end, and the client needs to run the foreign currency revaluation process to correctly understand their currency exposure.

You need to set up Dynamics 365 for Finance and Operations to perform foreign currency revaluation.

In which order should you perform the actions? To answer, move all actions from the list of actions to the answer area and arrange them in the correct order. NOTE: More than one order of answer choices is correct. You will receive credit for any of the correct orders you select.

48. You are a functional consultant for Contoso Entertainment System USA (USMF).

You need to create a report that contains the sales tax settlements for the state of California during the quarter that began on January 1, 2017. To validate you results, save the file in Microsoft Excel format to the DownloadsReport folder.

To complete this task, sign in to the Dynamics 365 portal.

49. DRAG DROP

A company uses Microsoft Dynamics 365 Finance.

You receive a new purchase invoice. You must process the invoice as a fixed asset that complies with applicable tax regulations. Double entry is not permitted for asset acquisitions.

You need to configure the asset and books.

Which four actions should you recommend be performed in sequence? To answer move all actions from the list of actions to the answer area and arrange them m the correct order.

50. A company plans to use Dynamics 365 for Finance and Operations. You need to configure basic budgeting.

Which set of actions must you perform?

51. DRAG DROP

You need to process expense allocations.

Which features should you use? To answer, drag the appropriate features to the correct requirements. Each feature may be used once, more than once, or net at all. You may need to drag the split bar between panes or scroll to view content. NOTE: Each correct selection is worth one point.

52. HOTSPOT

You need to configure an Accounts payable charge for freight for a company. The company requires that the system include the freight invoice to be paid to the vendor and record the expense in main account 600120 - Freight In.





Use the drop-down menus to select the answer choice that answers each question based on the information presented in the graphic. NOTE: Each correct selection is worth one point.

53. HOTSPOT

You are setting up a budget plan to accurately portray the projected budget for a company.

You need to select the appropriate allocation method for data distribution.

Which allocation methods should you use? To answer, select the appropriate configuration in the answer area. NOTE: Each correct selection is worth one point.

54. CAR-1233

- At the regional distribution centers, the value for physical inventory does not match the inventory in the financial system.

- Munson’s rents their corporate office. Rent is not paid by purchase order. Rent is due once a quarter.

- Allocations are performed manually.

- Barrels are inventoried by site and warehouse.

- Munson’s has multiple depreciation and tax books for all of their fixed asset equipment.

- Budgets are posted at the department level for each legal entity.



Requirements. Sales

- Customers should be able to pre-order for fall release of pickles.

- Three-way matching must be enforced for all purchases.

- Fixed asset sale transactions require a ledger account entered at the time of transaction.

- Fixed assets purchased must be automatically created in fixed asset module. This includes inventory items and write in purchase orders/non-inventoried items.

- One dollar from every sale needs must be tracked and donated at the end of each month to a charitable organization.

- Purchasing budgets must be enforced at the main account level.



Requirements. Finance

- Accounts payable must be able to enter vendor invoices on the day they were received to be settled against when product is received.

- Accounts payable must be able to enter vendor invoices to accrue expense without specifying a purchase order at the time of entry.

- Postage expenses must be split evenly across the regional distribution centers automatically.

- Administrative expenses must be distributed across the regional distribution centers by percentage of fulfillment orders monthly.

- Pickling machines depreciation must be uniquely recorded for visibility but not post to the ledger.



Issues

- During implementation testing, User1 indicates that after packing slips are generated for purchase orders, there are no ledger postings.

- User2 indicates that fixed assets purchased on a purchase order do not show up in the Fixed Assets module.

- User3 reports that they are seeing inconsistent application of the one-dollar donation from all sales orders.

- User4 in the Canadian subsidiary is able to purchase supplies for marketing despite exceeding the marketing department budget.

- User5 reports that when purchasing a non-inventoried computer, the system is automatically assigning it to the buildings fixed asset group.



HOTSPOT

You need to determine the root cause for User1’s issue.

Which configuration options should you check? To answer, select the appropriate options in the answer area. NOTE: Each correct selection is worth one point.

55. DRAG DROP

You are a Dynamics 365 Finance and Operations functional consultant A legal entity processes and settles vendor payments: on behalf of other legal entities in an organization.

You need to configure the centralized payment flow for the legal entity.

In which order should you perform the actions? to answer, move all actions from the list of actions to the answer area and arrange them in the correct order.

56. You need to recommend a solution to prevent User3's issue from recurring.

What should you recommend?

57. You are using Microsoft Dynamics 365 finance

You need to acquire a fixed asset.

What are three possible ways to achieve the goal? Each correct answer presents a complete solution NOTE: bath collect selection is worth one point.

58. Note: This question is part of a series of questions that present the same scenario. Each question in the series contains a unique solution that might meet the stated goals. Some question sets might have more than one correct solution, while others might not have a correct solution.

After you answer a question in this section, you will NOT be able to return to it. As a result, these questions will not appear in the review screen.

A customer uses Dynamics 365 Finance. The customer creates a purchase order for purchase $20,000 of office furniture.

You need to configure the system to ensure that the funds are reserved when the purchase order is confirmed.

Solution: Set up posting definitions for purchase requisitions.

Does the solution meet the goal?

59. You are the controller for an organization. The company purchased six service trucks. You observe that your accountant set up Fixed assets C vehicles in the wrong fixed asset group.

You need to achieve the following:

✑ Change the fixed asset group so that the existing fixed asset transactions for the original fixed asset are canceled and regenerated for the new fixed asset.

✑ Ensure that all value models for the existing fixed asset are created for the new fixed asset. Any information that was set up for the original fixed asset is copied to the new fixed asset.

✑ Close the old fixed asset number in the old fixed assets group and create a new fixed asset number in the new fixed assets group.

✑ Ensure that the historical transactions are transferred to the new fixed asset.

✑ Ensure Historical Depreciation expense entries do not change.

What should you do?

60. You are configuring vendor collaboration security roles for external vendors. You manually set up a vendor contact.

You need to assign the Vendor (external) role to this vendor.

Which tasks can this vendor perform?

61. HOTSPOT

A company is using vendors to produce components for its products.

Journal types are not configured to support vendor invoices-You need to identify and configure journals to use for vendor invoices.

Which journal types should you use? To answer, select the appropriate options in the answer area, NOTE: Each correct selection is worth one point.

62. A company provides employee life insurance to all full-time employees. Employee life insurance

policies are paid twice a year to the insurance company. Transactions for current employees must be recognized in the general ledger twice a month with an employee's pay. Transactions for new employees must be recognized in the general ledger based upon the employee's first pay date.

You need to configure accrual schemes for the new fiscal year.

Which two configurations should you use? Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point.

63. You are a Dynamics 365 Finance consultant.

You are currently unable to collaborate or track progress toward month-end close across legal entities in the current system.

You need to resolve the issue.

What should you configure?

64. The controller at a company has multiple employees who enter standard General ledger journals. The controller wants to review these journal entries before they are posted. Currently, journals entries are posted without review.

You need to configure Dynamics 365 Finance to help set up a system led review process to meet the controller's needs.

Which functionality should you configure?

65. You are a functional consultant for Contoso Entertainment System USA (USMF).

You plan to run several reports in USMF that list all the write-off transactions.

You need to replace the write-off reason used by the system for USMF to use a reason of “Bad debts.

To complete this task, sign in to the Dynamics 365 portal.

66. HOTSPOT

A private sector client needs item groups set up to support the procurement process.

The Audio Item group posting for a purchase order is configured as shown:





Use the drop-down menus to select the answer choice that answers each question based on the information presented in the graphic. NOTE: Each correct selection is worth one point.

67. DRAG DROP

You are a controller for a public sector organization. You need detailed fiscal tracking and reporting.

You need to set up fund types categorized under specific fund classes.

Which fund type can you set up for each fund class? To answer, drag the appropriate fund types to the correct fund classes. Each fund type may be used once, more than once, or not at all. You may need to dreg the split bar between panes or scroll to view content. NOTE: Each correct selection is worth one point.

68. HOTSPOT

A food manufacturer uses commodities such as beans, corn, and chili peppers as raw materials. The prices of the commodities fluctuate frequently. The manufacturer wants to use cost versions to simulate these fluctuations.

You need to set up cost versions and prices to accomplish the manufacturer's goal.

For which purpose should you use each costing type? To answer, select the appropriate options in the answer area. NOTE: Each correct selection is worth one point.