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MB-310: Microsoft Dynamics 365 Finance Functional Consultant Dumps

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Question No: 1

OrderList

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.

Answer
Explanation

https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/intercompany-accounting-setup

Question No: 2

MultipleChoice

You use Dynamics 365 Finance. Your company offers cash discounts. The discounts are offered sequentially to specific customers. Customers must pay their invoices within a specified time period. The cash discounts are as follows:

* 5D10% - Cash discount of 10 percent when the amount is paid within 5 days.

* 10D5% - Cash discount of 5 percent when the amount is paid within 10 days.

* 14D2% - Cash discount of 2 percent when the amount is paid within 14 days.

Cash discounts can only be given if the payments are made within 10 days. You need to configure cash discounts. What should you do?

Options

ACreate a new cash discount code of 14D10%.

BCreate a new cash discount code of 10D14%.

CDelete the 14D2% cash discount code.

DDelete the 14D2% cash discount code from the next discount code list value of 10D5%.

Answer
D

Question No: 3

OrderList

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

https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/budget-planning-data-allocation

Question No: 4

OrderList

A client observes that some customers are late paying their invoices. The client wants to use the Credit and Collections functionality to send collection letters to customers.

need to configure the system to support collection letter functionality and processing.

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.

Answer
Explanation

http://d365tour.com/en/microsoft-dynamics-d365o/finance-d365fo-en/collection-letters/

Question No: 5

MultipleChoice

You are implementing Dynamics 365 Finance.

Sales tax payable must be posted to the same collection of accounts across all legal entities. You need to configure the sales tax. What should you use?

Options

APosting group

BTax group

CUse tax payable account

DTax jurisdiction

Answer
A

Question No: 6

OrderList

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.

Answer

Question No: 7

OrderList

A company uses basic budgeting functionality in Dynamics 365 Finance.

The company wants to add fixed asset depreciation expenses to its budget register entry. The depreciation expense must be automatically calculated.

You need to create budget register entries for fixed asset depreciation expense.

Which four 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

Question No: 8

MultipleChoice

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.

Options

ASee explanation below

Answer
AExplanation

You need to create an account structure with the same structure as the department named Manufacturing India by using the following instructions.

Go toNavigation pane > Modules > General ledger > Chart of accounts > Structures > Configure account structures.

On theAction pane, clickNewto open the drop dialog.

In theAccount structurefield, type a name to describe the purpose of the account structure.

In theDescriptionfield, type a description to specify the purpose of the account structure.

ClickCreate.

In theSegments and allowed values, clickAdd segment.

In the dimensions list, select the dimension to add to the account structure.

At the end of the list, clickAdd segment.

Repeat step 6 to 9 as needed.

In theAllowed value detailssection, select the segment to edit the allowed values. For example, click theMain Accountfield.

In theOperatorfield, select an option, such as is between and includes.

In theValuefield, type a value. For example, 600000.

In thethroughfield, type a value. For example, 699999.

In theAllowed value detailssection, clickApply.

Repeat step 10 to 15 as needed.

In theAllowed value detailssection, clickAdd new criteria.

In the Operator field, select an option, such as is between and includes.

In theValuefield, type a value. For example, 033.

In thethroughfield, type a value. For example, 034.

ClickApply.

In the grid, select the segment to edit the allowed values. For example, Cost Center.

In theCostCenter field, type a value. For example, 007..021.

In theSegments and allowed values, clickAdd.

In theMainAccountfield, 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 theAction pane, clickValidate.

https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/tasks/create-account-structures

Question No: 9

MultipleChoice

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

You need to implement a quarterly accruals scheme for USMF. The accrual scheme settings must match the settings of the monthly and annual accrual schemes.

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

Options

ASee explanation below

Answer
AExplanation

Look at the monthly and annual accrual scheme settings. Create a quarterly accrual scheme with the same settings by using the following instructions:

Go toNavigation pane > Modules > General ledger > Journal setup > Accrual schemes.

SelectNew.

In theAccrual identificationfield, type a value.

In theDescription of accrual schemefield, type a value.

In theDebitfield, specify the desired values. The main account defined will replace the debit main account on the journal voucher line and it will also be used for the reversal of the deferral based on the ledger accrual transactions.

In theCreditfield, specify the desired values. The main account defined will replace the credit main account on the journal voucher line and it will also be used for the reversal of the deferral based on the ledger accrual transactions.

In theVoucherfield, select how you want the voucher determined when the transactions are posted.

In theDescriptionfield, type a value to describe the transactions that will be posted.

In thePeriod frequencyfield, select how often the transactions should occur.

In theNumber of occurrences by periodfield, enter a number.

In thePost transactionsfield, select when the transactions should be posted, such asMonthly.

https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/tasks/create-accrual-schemes

Question No: 10

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.

Answer

Question No: 11

MultipleChoice

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?

Options

AYes

BNo

Answer
AExplanation

References:

https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/year-end-close

Question No: 12

MultipleChoice

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 Yes.

* 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 Yes.

* 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?

Options

AYes

BNo

Answer
BExplanation

References:

https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/year-end-close

Question No: 13

MultipleChoice

You are the controller for an organization. The company purchased six service trucks. You observe that your accountant set up Fixed assets -- 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?

Options

AReclassify the fixed asset

BChange the fixed asset group and keep the same fixed asset number

CCopy the fixed asset

DTransfer the fixed asset

Answer
AExplanation

References:

https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/fixed-assets/tasks/reclassify-fixed-assets

Question No: 14

DragDrop

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.

Answer

Explanation

https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/intercompany-accounting-setup

Question No: 15

MultipleChoice

You are implementing Dynamics 365 Finance.

Subledger entries must transfer automatically to the general lender.

You need to configure a hatch transfer rule

Which two options should you select? Each correct answer presents a complete solution

NOTE: Each correct selection is worth one point

Options

AScheduled batch

BScheduler job

CBatch jobs

DAsynchronous

Answer
D

Question No: 16

MultipleChoice

Note: This question is part of a series of questions that present the same scenario. Each question in the series contains a unique solution. Determine whether the solution meets 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 controller notices incorrect postings to the ledger entered via journal.

The system must enforce the following:

Expense accounts (6000-6998) require department, division, and project with all transactions. Customer dimension is optional.

Revenue accounts (4000-4999) require department and division and allow project and customer dimensions.

Liability accounts (2000-2999) should not have any dimensions posted.

Expense account (6999) requires department, division, project and customer dimensions with all transactions.

You need to configure the account structure to meet the requirements.

Solution:

Configure one account structure with department, division, project and customer dimensions.

Configure asterisks in all columns for Expense accounts (6000-6999), Revenue accounts (4000-4999), and Liability accounts (2000-2999).

Does the solution meet the goal?

Options

AYes

BNo

Answer
BExplanation

As asterisk in all dimension columns would mean that a value must be configured for all dimensions.

https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/configure-account-structures

Question No: 17

MultipleChoice

An organization plans to set up intercompany accounting between legal entities within the organization.

Automatic transactions between legal entities must meet the following requirements:

* Provides systemwide integration and streamlining to save time

* Minimizes errors and create an audit trail with full visibility into business activities and transaction histories within the legal entities

You need to set up intercompany accounting and create pairs of legal entities that can transact with each other, clearly defining the originating company and the destination company.

Which three actions should you perform? Each correct answer presents part of the solution.

NOTE: Each correct selection is worth one point.

Options

ASelect intercompany journal names.

BConfigure intercompany accounting in both the originating entity and destination entity.

CCreate intercompany main accounts to use for the due to and due from accounting entries.

DDefine intercompany accounting setup by creating legal entity pairs defining originating and destination companies.

EConfigure intercompany accounting in the destination entity only.

Answer
A, C, DExplanation

https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/intercompany-accounting-setup

Question No: 18

MultipleChoice

SIMULATION

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

You need to implement a quarterly accruals scheme for USMF. The accrual scheme settings must match the settings of the monthly and annual accrual schemes.

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

Options

ALook at the monthly and annual accrual scheme settings. Create a quarterly accrual scheme with the same settings by using the following instructions:
*Go to Navigation pane > Modules > General ledger > Journal setup > Accrual schemes.
*Select New.
*In the Accrual identification field, type a value.
*In the Description of accrual scheme field, type a value.
*In the Debit field, specify the desired values. The main account defined will replace the debit main account on the journal voucher line and it will also be used for the reversal of the deferral based on the ledger accrual transactions.
*In the Credit field, specify the desired values. The main account defined will replace the credit main account on the journal voucher line and it will also be used for the reversal of the deferral based on the ledger accrual transactions.
*In the Voucher field, select how you want the voucher determined when the transactions are posted.
*In the Description field, type a value to describe the transactions that will be posted.
*In the Period frequency field, select how often the transactions should occur.
*In the Number of occurrences by period field, enter a number.
*In the Post transactions field, select when the transactions should be posted, such as Monthly.

BLook at the monthly and annual accrual scheme settings. Create a quarterly accrual scheme with the same settings by using the following instructions:
*Go to Navigation pane > Modules > General ledger > Journal setup > Accrual schemes.
*Select New.
*In the Accrual identification field, type a value.
*In the Debit field, specify the desired values. The main account defined will replace the debit main account on the journal voucher line and it will also be used for the reversal of the deferral based on the ledger accrual transactions.
*In the Credit field, specify the desired values. The main account defined will replace the credit main account on the journal voucher line and it will also be used for the reversal of the deferral based on the ledger accrual transactions.
*In the Voucher field, select how you want the voucher determined when the transactions are posted.
*In the Number of occurrences by period field, enter a number.
*In the Post transactions field, select when the transactions should be posted, such as Monthly.

Answer
AExplanation

https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/tasks/create-accrual-schemes

Question No: 19

MultipleChoice

SIMULATION

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.

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

Options

AYou 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, 088.
*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..698888
*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.

BYou 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.

Answer
BExplanation

https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/tasks/create-account-structures

Question No: 20

MultipleChoice

SIMULATION

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

You need to assign the Accountant closing role for the USMF legal entity to an employee named Theresa Jayne.

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

Options

ANavigate to System administration > Security > Assign users to roles
*Select the 'Accountant Closing' role.
*Click the ''Manually assign / exclude users'' button
*Select the Theresa Jayne user account and click the ''Assign to role'' button.
*Click the ''Assign organizations'' button
*Select the ''Grant access to specific organizations'' option
*Select the USMF legal entity and click the ''Grant'' button.

BNavigate to System administration > Security > Assign users to roles
*Select the 'Accountant Closing' role.
*Click the ''Manually assign / exclude users'' button
*Select the ''Grant access to specific organizations'' option
*Select the USMF legal entity and click the ''Grant'' button.

Answer
AExplanation

https://www.dynamics-tips.com/system-administration/security-roles

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