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The exam is divided into several topics that cover various aspects of financial management, including configuring and using financial management features, managing financial transactions, managing accounts payable and accounts receivable, managing budgets, and generating financial reports. Candidates are expected to have a thorough understanding of financial management principles and basic accounting concepts, as well as experience using Microsoft Dynamics 365 Finance. Passing this exam is a crucial step for professionals who want to advance their careers in the field of financial management and gain recognition for their expertise in Microsoft Dynamics 365 Finance.
NEW QUESTION # 90
A company sells goods to a customer. You enter an invoice for the customer on June 25. The invoice is eligible for a cash discount of two percent if it is paid in five days and a discount of one percent if it is paid in 14 days.
You need to create a payment journal when the invoices are settled on specific dates.
Which setup options should you use? To answer, select the appropriate options in the answer area.
NOTE: Each correct selection is worth one point.
Answer:
Explanation:
NEW QUESTION # 91
You are creating a budget for an organization.
The organization requires that allocations be performed automatically as part of budget planning.
You need to invoke allocations at a specific budget planning stage.
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.
Answer:
Explanation:
NEW QUESTION # 92
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 default offset account on the journal name.
Does the solution meet the goal?
- A. No
- B. Yes
Answer: A
NEW QUESTION # 93
An organization plans to use defined journal names for each purpose. They want to ensure that journal processing is easier and more secure.
The organization has the following requirements:
* Set up restrictions on the account type and segment values.
* Capture data accurately for offset accounts, currency, and financial dimensions.
* Maintain internal control and establish materiality limits.
You need to set up journal name elements to meet these requirements.
Which three journal elements should you configure? Each correct answer presents part of the solution.
NOTE: Each correct selection is worth one point.
- A. default values
- B. journal control
- C. journal type
- D. account type
- E. workflow approval
Answer: A,B,E
NEW QUESTION # 94
You manage fixed assets in Dynamics 365 Finance.
You have the following requirements:
Purchase a fixed asset on a purchase order by using a procurement category.
Purchase a fixed asset on a purchase order by using an item number.
Post specific tax transactions for fixed assets by using a journal.
You need to associate process in the system with the corresponding business requirement.
Which actions should you perform? To answer, select the appropriate configuration in the answer area.
NOTE: Each correct selection is worth one point.
Answer:
Explanation:
Reference:
https://www.loganconsulting.com/blog/fixed-asset-determination-rules-in-d365-for-finance-and-operations/
NEW QUESTION # 95
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.
Answer:
Explanation:
Explanation:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/accounts-receivable/tasks/review-collections-information
NEW QUESTION # 96
A client plans to use financial statements in Dynamics 365 Finance. The client wants to process the statements by using various combinations of the components to create custom reports.
You need to associate the report components to the purpose.
Which report components should you use for each purpose? To answer, drag the appropriate component to the correct purpose. Each component 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.
Answer:
Explanation:
Reference:
https://docs.microsoft.com/en-us/dynamics365/fin-ops-core/dev-itpro/analytics/financial-report-components
NEW QUESTION # 97
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?
- A. View and modify contact person information, such as the person's title, email address, and telephone number.
- B. Delete any contact person that they have created.
- C. View consignment inventory.
- D. Activate or inactivate the association between a contact person and a vendor account.
Answer: C
Explanation:
Note:
There are several versions of this question in the exam. The question has two possible correct answers:
1. View consignment inventory.
2. Maintain vendor collaboration invoices.
Other incorrect answer options you may see on the exam include the following:
1. Add a new or existing contact person to the vendor accounts that they are a contact for.
2. Request a new user account for a contact person by using the Provision user action.
3. Deny or allow a contact person's access to documents on the vendor collaboration interface that are specific to the vendor account.
4. Maintain vendor collaboration invoices.
Reference:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/supply-chain/procurement/set-up-maintain- vendor-collaboration
NEW QUESTION # 98
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.
Answer:
Explanation:
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/accounts-payable/tasks/set-up-accounts-payable-invoice-matching-validation
NEW QUESTION # 99
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.
Answer:
Explanation:
NEW QUESTION # 100
A company uses Dynamics 365 Finance to manage budgets.
You need to reallocate funds during the year.
Which budget code should you use?
- A. Pre-encumbrance
- B. Transfer
- C. Zero-based
- D. Carry-forward
Answer: B
Explanation:
Explanation/Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/budgeting/basic-budgeting-overview-configuration
NEW QUESTION # 101
You Create a financial dimension set named MA + DEPT+PROJ as shown in the following screenshot. The financial dimension set include the following dimensions:
* Main Account
* Department
* Project
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.
Answer:
Explanation:
NEW QUESTION # 102
A client is implementing the Budgeting module in Dynamics 365 Finance.
You need to configure the correct budget control area to meet the client's requirements.
* Track budgeting control on purchase requisitions.
* Include unposted actual transactions in the calculation of the remaining budget for the period.
* Allow specific individuals to post transactions that exceed the budget.
* Specify main accounts that are subject to budget control, instead of selecting Main account as a dimension for budgeting.
What should you configure? To answer, select the appropriate configuration in the answer area.
NOTE: Each correct selection is worth one point.
Answer:
Explanation:
Explanation
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/budgeting/budget-control-overview-configuration
NEW QUESTION # 103
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.
- A. For new employees, use a Credit accrual scheme. In the ledger accrual, set the offset to the first day of the fiscal year.
- B. For new employees, use a Debit accrual scheme. In the ledger accrual, set the offset to the employee's first pay date.
- C. For current employees, use a Debit accrual scheme. In the ledger accrual, set the offset to the first day of the fiscal year.
- D. For current employees, use a Credit accrual scheme. In the ledger accrual, set the offset to the employee's first pay date.
Answer: C,D
NEW QUESTION # 104
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: Configure item posting groups for purchase requisitions.
Does the solution meet the goal?
- A. No
- B. Yes
Answer: A
NEW QUESTION # 105
An organization plans to use defined journal names for each purpose. They want to ensure that journal processing is easier and more secure.
The organization has the following requirements:
* Set up restrictions on the account type and segment values.
* Capture data accurately for offset accounts, currency, and financial dimensions.
* Maintain internal control and establish materiality limits.
You need to set up journal name elements to meet these requirements.
Which three journal elements should you configure? Each correct answer presents part of the solution.
NOTE: Each correct selection is worth one point.
- A. default values
- B. journal control
- C. journal type
- D. account type
- E. workflow approval
Answer: A,B,E
Explanation:
Explanation/Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/general-journal-processing Implement and manage accounts payable and receivable Question Set 1
NEW QUESTION # 106
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.
Answer:
Explanation:
NEW QUESTION # 107
A client is implementing Accounts payable. The client wants to establish three-way matching for 100 of their 5,000 stocked items from a specific vendor.
The client requires the ability to have items that require only two-way matching and specific items that require three-way matching.
You need to configure the system in the most efficient manner to achieve these requirements.
What should you do?
- A. Configure a company matching policy of a three-way match.
- B. Configure a company matching policy of non-required and specify the items that require a three-way match.
- C. Configure a company matching policy of two-way matching and specify the items that require a three-way match.
- D. Configure a company matching policy of two-way matching and set the matching policy for specific item, and vendor combination level to three-way matching.
- E. Configure a company matching policy of two-way matching and specify the vendors that require a three-way match.
Answer: D
Explanation:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/accounts-payable/tasks/set-up-accounts-payable-invoice-matching-validation
NEW QUESTION # 108
You are a functional consultant for Contoso Entertainment System USA (USMF).
USMF plans to implement a new manufacturing department that will be based in Australia.
You need to create a draft account structure for the new department. The account structure must use the same account structure as a department named Manufacturing India and be named Manufacturing Australia.
To complete this task, sign in to the Dynamics 365 portal.
Answer:
Explanation:
You need to create an account structure with the same structure as the department named Manufacturing India by using the following instructions.
Go to Navigation pane > Modules > General ledger > Chart of accounts > Structures > Configure account structures.
On the Action pane, click New to open the drop dialog.
In the Account structure field, type a name to describe the purpose of the account structure.
In the Description field, type a description to specify the purpose of the account structure.
Click Create.
In the Segments and allowed values, click Add segment.
In the dimensions list, select the dimension to add to the account structure.
At the end of the list, click Add segment.
Repeat step 6 to 9 as needed.
In the Allowed value details section, select the segment to edit the allowed values. For example, click the Main Account field.
In the Operator field, select an option, such as is between and includes.
In the Value field, type a value. For example, 600000.
In the through field, type a value. For example, 699999.
In the Allowed value details section, click Apply.
Repeat step 10 to 15 as needed.
In the Allowed value details section, click Add new criteria.
In the Operator field, select an option, such as is between and includes.
In the Value field, type a value. For example, 033.
In the through field, type a value. For example, 034.
Click Apply.
In the grid, select the segment to edit the allowed values. For example, Cost Center.
In the CostCenter field, type a value. For example, 007..021.
In the Segments and allowed values, click Add.
In the MainAccount field, type a value. For example, 600000..699999
In the grid, select the segment to edit the allowed values. For example, Department.
In the Department field, type a value. For example, 032.
In the CostCenter field, type a value. For example, 086.
On the Action pane, click Validate.
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/tasks/create-account-structures
NEW QUESTION # 109
You need to assist User3 with generating a deposit slip to meet Fourth Coffee's requirement.
Which five 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.
Answer:
Explanation:
Explanation
Reference:
https://docs.microsoft.com/en-us/dynamicsax-2012/appuser-itpro/create-a-deposit-slip
NEW QUESTION # 110
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?
- A. Select bank transaction type
- B. Select Payment ID
- C. Select Deposit slip
- D. Select payment reference
Answer: D
Explanation:
Section: Implement and manage accounts payable and receivable
NEW QUESTION # 111
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To obtain the Microsoft MB-310 certification, candidates need to demonstrate their understanding of how to implement and configure financial management functionalities in Dynamics 365 Finance. They must also show their ability to use financial management functionalities to support organizational financial processes. This certification is intended for individuals who have experience working with finance-related tasks and are seeking to enhance their skills and knowledge in the field of finance. By obtaining the Microsoft MB-310 certification, professionals can demonstrate their expertise in finance and increase their value in the job market.
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