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.
You need to correct the sales tax setup to resolve User5’s issue.
Which three actions should you perform? Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point.
- A . Populate the sales tax code on the sales order line.
- B . Assign the sales tax group to CustomerY.
- C . Assign the relevant sales tax code to both the sales tax and item sales tax groups.
- D . Populate the item sales tax group field on the sales order line.
- E . Populate the sales tax group field on the sales order line.
CDE
Explanation:
Reference: https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/indirect-taxes-overview
You need to troubleshoot the reporting issue for User7.
Why are some transactions being excluded?
- A . User7 is running the report in CompanyB.
- B . User7 is running the report in CompanyA.
- C . The report is correctly excluding CustomerY transactions.
- D . The report is correctly excluding CustomerZ transactions.
You need to determine why CustomerX is unable to confirm another sales order.
What are two possible reasons? Each answer is a complete solution. NOTE: Each correct selection is worth one point.
- A . The credit limit parameter is set to Balance + All.
- B . The credit limit is set to 0.
- C . An inventory item is out of stock.
- D . The inventory safety stock is set to 0.
You need to configure settings to resolve User8’s issue.
What should you select?
- A . a main account in the sales tax payable field
- B . a main account in the settlement account field
- C . the Conditional sales tax checkbox
- D . the Standard sales tax checkbox
DRAG DROP
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.
Explanation:
Reference: https://docs.microsoft.com/en-us/dynamicsax-2012/appuser-itpro/create-a-deposit-slip
You need to view the results of Fourth Coffee Holding Company’s consolidation.
Which three places show the results of financial consolidation? Each correct answer presents a complete solution. NOTE: Each correct selection is worth one point.
- A . a financial report run against the company Fourth Coffee
- B . a trial balance in the Fourth Coffee Holding Company
- C . a trial balance in the company Fourth Coffee
- D . a financial report run against the Fourth Coffee Holding Company
- E . the consolidations form in Fourth Coffee Holding Company
HOTSPOT
You need to prevent a reoccurrence of User2’s issue.
How should you configure the system? To answer, select the appropriate options in the answer area. NOTE: Each correct selection is worth one point.
You need to configure the system to resolve User8’s issue.
What should you select?
- A . the Standard sales tax checkbox
- B . the Conditional sales tax checkbox
- C . a main account in the settlement account field
- D . a main account in the sales tax payable field
HOTSPOT
The posting configuration for a purchase order is shown as follows:
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.
You need to ensure that User9’s purchase is appropriately recorded.
Which three steps should you perform? Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point.
- A . Select a fixed asset group at the line level.
- B . Set the new fixed asset toggle to yes at the line level.
- C . Enter three purchase order lines, enter quantity of 1.
- D . Enter one purchase order line, enter quantity of 3.
- E . Select a financial dimension at the line level.
You need to ensure that User9’s purchase is appropriately recorded.
Which three steps should you perform? Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point.
- A . Select a fixed asset group at the line level.
- B . Set the new fixed asset toggle to yes at the line level.
- C . Enter three purchase order lines, enter quantity of 1.
- D . Enter one purchase order line, enter quantity of 3.
- E . Select a financial dimension at the line level.
You need to ensure that User9’s purchase is appropriately recorded.
Which three steps should you perform? Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point.
- A . Select a fixed asset group at the line level.
- B . Set the new fixed asset toggle to yes at the line level.
- C . Enter three purchase order lines, enter quantity of 1.
- D . Enter one purchase order line, enter quantity of 3.
- E . Select a financial dimension at the line level.
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.
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.
Explanation:
Reference: https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/ledger-allocation-rules
You need to configure system functionality for pickle type reporting.
What should you use?
- A . item model groups
- B . item groups
- C . procurement category hierarchies
- D . financial dimensions
- E . procurement categories
You need to recommend a solution to prevent User3’s issue from recurring.
What should you recommend?
- A . Configure automatic charge codes.
- B . Create a service item.
- C . Configure a sales order template.
- D . Create a procurement category.
You need to identify the root cause for the error that User5 is experiencing.
What should you check?
- A . Fixed asset rules
- B . Fixed asset determination rules
- C . Fixed asset posting profiles
- D . Fixed asset books
- E . Fixed asset depreciation profiles
DRAG DROP
You need to configure the system to meet invoicing requirement.
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 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.
Explanation:
Reference: https://docs.microsoft.com/en-us/dynamics365/finance/accounts-payable/vendor-invoices-overview
You need to configure Accounts Receivable to take pre-orders.
Which feature should you use?
- A . Settle cloud transactions
- B . Accounting source explorer
- C . Settle open transactions
- D . Customer aging report
- E . Voucher transactions
C
Explanation:
Reference: https://docs.microsoft.com/en-us/dynamics365/finance/cash-bank-management/settlement-overview
Which configuration makes it possible for User4 to make a purchase?
- A . Budget model configuration is configured to allow certain purchases to exceed budget.
- B . Budget is posted at the dimension level. Budget control is managed at main account level.
- C . Budget funds available are configured to allow dimension budget overrides.
- D . Budget is posted at the main account level. Budget control is managed at the department level.
DRAG DROP
You need to select the functionality to meet the requirement.
Which features should you use? To answer, drag the appropriate features to the correct requirements. Each feature may be used 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.
Explanation:
Reference: https://www.mscloudexperts.com/how-to-set-up-fixed-assets-to-register-transactions-in-posting-layers/
Topic 3, Alpine Ski House
Case study
Overview
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 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 button to return to the question.
Background
Alpine Ski House has three partially owned franchises and 10 fully owned resorts throughout the United States and Canada. Alpine Ski House’s percentage ownership of the franchises is between two and 10 percent.
Alpine Ski House is undergoing an implementation of Dynamics 365 Finance and Dynamics 365 Supply Chain Management to transform their financial management and logistics capabilities across the franchises.
Implementation is complete for Alpine Ski House’s corporate offices, two US franchises, and one Canadian franchise. The remaining franchises are in varying stages of the implementation. Two new resort projects are in the budget planning stages and will open in the next fiscal year. Current environment
Organization and general ledger
* Each franchise is set up as a legal entity in Dynamics 365 Finance.
* Alpine Ski House Corporate uses financial dimensions for their fully owned resorts.
* Each resort is a financial dimension named resort.
* Each fully owned resort has two divisions: marketing and operations.
* Only Profit and Loss account postings require the division dimension.
* Corporate handles the advertising and administration of the fully owned resorts.
* Corporate uses Dynamics 365 Project Management and Accounting to manage construction of new resorts.
Budgeting
* Organizational budgeting is decentralized but rolls up to one organizational corporate budget.
* Each resort manager performs budgeting in Dynamics 365 Finance.
* Budget preparation begins this month. All operational resorts will submit their budgets in two weeks.
Sales and tax
* Sales tax is configured and used by all resorts that operate in the United States.
* You configure one US sales tax vendor account and assign the vendor account to the settlement periods for reporting.
* You use accounts receivable charges to track donations.
Existing purchasing contracts
* Each franchise resort has an individual contract with a local supplier of their choosing to purchase at least $10,000 worth of suppliers during the calendar year.
* The franchise resorts in one US state receive a two percent discount on meat and vegetable purchases in excess of $8,000 per year.
* A franchise resort in Utah has agreed to purchase 1,000 units of beef at market price from a local supplier.
* Alpine Ski House uses a vendor collaboration portal to track purchase orders and requests for quotes.
* Vendors request access to the vendor collaboration portal by using a workflow which runs on a nightly schedule.
Intercompany setup
Vendor123 resides in US franchise Company1 and is set up for intercompany transactions. Customer345 resides in Canada franchise Company1 and is set up for intercompany transactions.
Requirements
Franchises
* Each franchise must pay two percent of monthly sales to Alpine Ski House Corporate.
* Each franchise must report their own financials to Alpine Ski House Corporate monthly.
* US franchises require a three-way-match on all purchases, with a 1-percent price tolerance.
* Canadian franchises require a three-way-match on all purchases except paper products, which have a 10-percent price tolerance.
Corporate
* Advertising costs must be balanced across the 10 resorts monthly. These costs must be split across the 12 resorts once construction of the final two resorts is completed.
* Administration costs must be split across the 10 resorts proportional to the amount of sales generated.
* One percent of all pack and individual ski pass sales must be donated quarterly to an environmental protection organization.
* The finance department must be able to see purchasing contracts and discounts for vendors based on volume spend.
Employees
All employee expense reports that contain the word must be reviewed for the audit purposes. If a journal is posted incorrectly, the entire journal and not just the incorrect line must be fully reversed for audit purposes.
Resorts
All resorts must use Dynamics 365 Finance for budgeting and must first be approved by the regional manager.
Purchased fixed assets must automatically be acquired at product receipt.
Issues
* User1 reports that irrelevant dimensions display in the drop down when entering a General journal.
* User2 reports that dimension 00 is being used for all balance sheet accounts.
* User3 tries to generate the quarterly sales tax liability payment for a specific state but does not see any payables available for that state’s vendor.
* User4 receives a call from a vendor who cannot access the vendor collaboration portal but needs immediate access.
* User5 notices a large amount of entertainment expenses being posted without an audit review.
* User6 needs to have visibility into the increase in budget that is necessary to staff the two new resorts opening next year.
* User7 needs to use Dynamics 365 Finance for situational budgeting planning with the ability to increase and decrease the existing plans by certain percentages.
* User8 made a mistake while posting a 1,000-line journal and reverses the entire journal but cannot find the lines that included errors during the reversal.
* User9 made a mistake while posting a 55-line journal and reverses the entire journal.
* User10 realizes that the purchase of five new computers did not acquire five new fixed assets upon receipt.
The Canadian franchise purchases excess ski equipment from the US franchise. Two sets of skis are
purchased totaling USD1,000.
When the purchase invoice is prepared, USD10,000 is keyed in by mistake.
Which configuration determines the result for this intercompany trade scenario?
- A . Post invoices with discrepancies is set to require approval.
- B . Match invoice totals is set to yes.
- C . Three-way match policy is configured.
- D . Two-way match policy is configured.
- E . Post invoices with discrepancies is set to allow with warning.
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.
Explanation:
Reference: https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/ledger-allocation-rules
HOTSPOT
You need to configure the system to meet the budget preparation requirements.
What should you do? To answer, select the appropriate options in the answer area. NOTE: Each correct selection is worth one point.
You need to adjust the sales tax configuration to resolve the issue for User3.
What should you do?
- A . Create multiple settlement periods and assign them to the US tax vendor.
- B . Create multiple sales tax remittance vendors and assign them to the settlement period.
- C . Run the payment proposal to generate the sales tax liability payments.
- D . Create a state-specific settlement period and assign the US tax vendor to the settlement period.
DRAG DROP
You need to configure the system to for existing purchasing contracts.
Which commitment types should you use? To answer, drag the appropriate commitment types to the correct requirements. Each commitment type 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.
Explanation:
Reference: https://docs.microsoft.com/en-us/dynamics365/supply-chain/procurement/tasks/create-purchase-agreement
You need to prevent the issue from reoccurring for User5.
What should you do?
- A . Use the audit list search query type.
- B . Set up the aggregate query type for entertainment expenses.
- C . Set up the sampling query type for entertainment expenses.
- D . Add more keywords to the audit policy.
You need to resolve the issue that User4 reports.
What should you do?
- A . Change the status of the vendor collaboration request
- B . Create a vendor account with the systemexternaluser role and the vendor admin (external) role
- C . Remove the externalsystemuser role from the vendor
- D . Manually create the vendor account with the systemuser role
You need to acquire the fixed assets that are associated with the purchase orders.
What should you do?
- A . Select the fixed asset checkbox on the invoice.
- B . Create the fixed assets in the fixed asset module and then acquire the asset.
- C . Create the fixed assets in the fixed asset module and then select the fixed asset checkbox on the product receipt.
- D . Reverse the product receipt and then repost it.
A
Explanation:
Reference: https://docs.microsoft.com/en-us/dynamics365/finance/fixed-assets/acquire-assets-procurement
You need to determine the cause of the issue that User1 reports.
What are two possible causes for the issue? Each correct answer presents a complete solution. NOTE: Each correct selection is worth one point.
- A . The account structure is in draft status.
- B . The account structure has quotations for all dimensions.
- C . User1 s security is incorrectly set up.
- D . The account structure has an asterisk for all dimensions.
- E . The financial dimensions were created in the incorrect legal entity.
You need to configure budget planning for Alpine Ski House Corporate.
Which two components should you configure? Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point.
- A . budget control workflow
- B . budget planning workflow
- C . operational budget register entry IS
- D . organizational hierarchy
- E . budget planning hierarchy
Topic 4, Adtum Corp.
Case Study
Overview
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?
- A . Add an additional period to ledger calendars.
- B . Add an additional fiscal years
- C . Divide the twelfth period.
- D . Create a new fiscal calendar
- E . Create a closing period
HOTSPOT
You need to validate the sales tax postings for Tennessee and Alabama.
Which tax selections meet the requirement? To answer. select the appropriate options in the answer area. NOTE: Each correct selection is worth one point.
DRAG DROP
You need to configure revenue recognition to meet the requirements.
Which configuration should you use? To answer, drag the appropriate configurations to the correct requirements. Each configuration may be used once, more than 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
You need to address the employees issue regarding expense report policy violations.
Which parameter should you use?
- A . Validate expense purpose
- B . Pre-authorization of travel is mandatory
- C . Evaluate expense management policies
- D . Policy rule type
You need in BUI that captured employee mobile receipts automatic ally match the transactions to resolve the User1 issue.
Which feature should you enable?
- A . Show receipts during itemization
- B . Define expense policy for receipts
- C . Expense management workspace
- D . Expense reports re-imagined
DRAG DROP
You need to configure recognition.
Which revenue type is associated with the line of business? To answer, drag the appropriate revenue types to the correct lines of business. Each revenue type 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.
HOTSPOT
You need to configure the expense module for reimbursement.
How should you configure the expense module? To answer, select the appropriate options in the answer area. NOTE: Each correct selection is worth one point.
HOTSPOT
You need to prevent prohibited expenses from posting.
Which configurations should you use? To answer, select the appropriate options in the answer area. NOTE: Each correct selection is worth one point.
You need to identify the posting issue with sales order 1234.
What should you do?
- A . Correct the recognition basis.
- B . Validate that the revenue recognition schedule is populated on the sales order header.
- C . Update the revenue price allocation.
- D . Validate that the revenue recognition schedule is populated on the sales order line.
- E . Correct the recognition convention.
You need to address the posting of sales orders to a closed period.
What should you do?
- A . Permanently close the period for all modules.
- B . Divide the period.
- C . Use a ledger calendar to update period status.
- D . Permanently close the fiscal year.
- E . Use a ledger calendar to update module access.
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.
Topic 5, First Up Consultants
Overview
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 m 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, dick 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 AM 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
First Up Consultants is a global finance and accounting company.
Financial needs at organizations ate constantly changing. When global companies become too large, it becomes too difficult for them to scale to meet then global operational needs. First Up Consultants provides "Finance as a Service’ capabilities.
Some large corporations complement their existing finance staff by engaging select services of First Up Consultants. Other large corporations outsource then entire finance operation to First Up Consultants.
First Up Consultants has hundreds of customers at any time. One such customer, humongous Insurance, is updating Its Dynamics Finance 365 implementation Another customer, Trey Research, is setting up its first Dynamics 365 Finance implementation.
Ledger
Humongous Insurance is a US-based company and operates its fiscal year from January 1 to December M. Humongous insurance reports across an its subsidiaries in consolidated financial reports. Trey Research is a Canadian-based company that operates its fiscal year from April 1 to March 31. Humongous Insurance employees receive an annual cost of living increase.
Requirements
• One of Humongous Insurance’s companies provides insurance to government clients and must separate that particular company into its owm subsidiary.
• The Humongous subsidiary will operate in China, which requires a fiscal year from February 1 to January 31. – Transitions must be posted in the business of record.
• Humongous insurance s subsidiary requires accounting entries to be posted from the subledger to the general ledger by 5:00 PM each day.
• Trey Research requires accounting entries to be posted from the subledger to the ledger immediately.
Taxes
• As part of the spinoff to a subsidiary, Humongous Insurance s subsidiaries taxes must be changed from US government rates to Chinese government rates.
• Humongous Insurance’s subsidiary must track use taxes that are not claimed or reported to the Chinese tax agency.
Fiscal calendars
You must create three new fiscal calendars
• A fiscal calendar named FebJan that runs from Feb 1 to Jan 31.
• A fiscal calendar named AprMar that runs from April 1 to March 31.
• A fiscal calendar named JanDec that runs from January 1 to December 31.
Accounts
• Trey Research most track bank account balances and transactions for each province in which it operates.
• The bank statement must be sent to the physical address of the home office.
Promotion
• Humongous insurance s subsidiary plans to celebrate its new subsidiary status by sending out free gifts to existing policy based on the Tier of their policy.
• Promotional Items are ordered for distribution and once received must be Tracked within Dynamics 365 Finance.
Reporting
• The CEO of Humongous Insurance needs to view the insurance products that customers plan to purchase. The report must show all transactions made over the last two years.
• The corporate vice president of Humongous Insurance s subsidiary needs to view the forecasted cash impact of specific products purchased. The report must show only new transactions.
Expenses
Expenses must be pain using the following requirements:
Credit card processing
• Humongous Insurance requires all credit card transactions to include line-item details.
• Humongous Insurance’s subsidiary requires the shipping address merchant address, and lax information but cannot include any order line details.
• Trey Research requires all credit card transactions include transaction date, transaction amount, description, and line-item details.
Compliance and compensation
• Trey Research must be able to audit any modifications to its budget
• Humongow Insurance employees must receive raises tour times pet budget cycle.
You need to reconfigure the taxing jurisdiction for Humongous insurance’s subsidiary.
What should you do?
- A . Configure sales tax groups for transactions that occur in China.
- B . Configure dual currency support for sales fax
- C . Change the reporting currency.
- D . Change the sales tax settlement period authority
You need to ensure Trey Research meets the compliance requirement.
Which budget technology should you implement? Each correct answer presents a complete solution. NOTE: Each correct selection is worth one point
- A . budget codes
- B . the Excel budget template
- C . set-based budget processing
- D . budgeting workflows
You need to configure the posting groups for Humongous insurance s subsidiary.
Which ledger posting group field should you use?
- A . Sales tax receivable
- B . Use tax expense
- C . Use tax payable
- D . Sales tax payable
- E . Customer case discount
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.
DRAG DROP
You need to create Trey Research s bank accounts.
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.
HOTSPOT
You need to configure the fiscal year calendars for each legal entity.
How should you configure the fiscal year calendars? To answer, select me appropriate options in the answer area. NOTE: Each correct selection is worth one point.
HOTSPOT
You need to configure credit card processing for all three companies.
Which option should you use? To answer, select the appropriate options in the answer area NOTE: Each correct selection is worth one point.
You need to ensure the promotional gifts are posted to the correct account.
What should you use?
- A . Classification groups
- B . Item groups
- C . Field groups
- D . Customer credit groups
- E . Bank groups
HOTSPOT
You need to configure credit card processing for all three companies
Which option should you use? To answer, select the appropriate options m the answer area NOTE: Each correct selection is worth one point.
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.
HOTSPOT
You need to configure expense management tor Humongous Insurance and its subsidiary.
Which options should you use? To answer select the appropriate options in me answer area. NOTE: Each correct selection is worth one point.
HOTSPOT
You need to configure the cash flow management reports.
How should you configure cash flow management? To answer, select the appropriate options m the answer area. NOTE: Each correct selection is worth one point.
Topic 6, Misc. Questions
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 company is preparing to complete yearly budgets.
The company plans to use the Budget module in Dynamics 365 for Finance and Operations for budget management
You need to create the new budgets.
Solution: Create budget plans for multiple scenarios.
Does the solution meet the goal?
- A . Yes
- B . No
A
Explanation:
Reference: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/budget-planning-overview-configuration
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 company is preparing to complete yearly budgets.
The company plans to use-pie Budget module in Dynamics 365 for Finance and Operations for budget management
You need to create the new budgets.
Solution: Create budget plans to define the revenues for a budget
Does the solution meet the goal?
- A . Yes
- B . No
B
Explanation:
Reference: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/budget-planning-overview-configuration
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 company is preparing to complete yearly budgets.
The company plans to use the Budget module in Dynamics 365 for Finance and Operations for budget management
You need to create the new budgets.
Solution: Combine budgets from multiple legal entities to a master budget.
Does the solution meet the goal?
- A . Yes
- B . No
B
Explanation:
Reference: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/budget-planning-overview-configuration
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?
- A . Yes
- B . No
A
Explanation:
Reference: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/consolidation-elimination-overview
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: Select Consolidate online in Finance and Operations. Include eliminations during the process or as a proposal. Setup the transactions to post in the legal entity configured for consolidations.
Does the solution meet the goal?
- A . Yes
- B . No
B
Explanation:
Reference: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/consolidation-elimination-overview
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?
- A . Yes
- B . No
A
Explanation:
Reference: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/consolidation-elimination-overview
A company plans to create a new allocation rule for electric utilities expenses.
The allocation rule must meet the following requirements:
* Distribute overhead utility expense to each department.
* Define how and in what proportion the source amounts must be distributed on various destination lines.
You need to configure the allocation rule.
Which allocation method should you use?
- A . Fixed percentage
- B . Equally
- C . Basis
- D . Fixed weight
C
Explanation:
Reference: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/ledger-allocation-rules
HOTSPOT
A client plans to use the cost accounting module in Dynamics 365 for Finance and Operations. You need to associate the correct definitions to the correct cost accounting concepts.
Which terms match the definitions? To answer, select the appropriate configuration in the answer are3. NOTE: Each correct selection is worth one point.
Explanation:
Reference: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/cost-accounting/terms-cost-accounting
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 current employees, use a Credit accrual scheme. In the ledger accrual, set the offset to the employee’s first pay date.
- C . For new employees, use a Debit accrual scheme. In the ledger accrual, set the offset to the employee’s first pay date.
- D . For current employees, use a Debit accrual scheme. In the ledger accrual, set the offset to the first day of the fiscal year.
You are configuring intercompany accounting for a multicompany enterprise. You need to set up: the Due to and Due from accounts.
Which main account type should you use?
- A . Expense
- B . Asset
- C . Balance sheet
- D . Liability
- E . Profit and loss
C
Explanation:
Reference: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/intercompany-accounting-setup
An organization is setting up cost accounting.
You need to set up fiscal calendars for Dynamics 365 for Finance and Operations.
What are three uses for fiscal calendars? Each correct answer presents a complete solution. NOTE: Each correct selection is worth one point.
- A . standard work hours
- B . financial transactions
- C . fixed asset depreciation
- D . budget cycles
- E . shift work hours
BCD
Explanation:
Reference: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/fiscal-calendars-fiscal-years-periods
An organization uses Dynamics 365 for Finance and Operations.
Several posted journal entries contain invalid main account and dimension combinations. This leads to incorrect financial reporting.
You need to prevent these invalid combinations.
What should you do?
- A . Associate the correct main accounts to that financial dimension on the financial dimension setup form.
- B . Configure financial dimension sets to limit which financial dimensions are valid for which main accounts.
- C . Train users to select the Validate button in the current journal configuration so that the correct account and dimension combination is used.
- D . Configure the account structure to specify which financial dimensions are valid for which main accounts.
D
Explanation:
Reference: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/configure-account-structures
A company plans to use Dynamics 365 for Finance and Operations. You need to configure basic budgeting.
Which set of actions must you perform?
- A . Option A
- B . Option B
- C . Option C
- D . Option D
D
Explanation:
Reference: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/basic-budgeting-overview-configuration
HOTSPOT
A client plans to use Dynamics 365 for Finance and Operations for year-end 1099 reporting in the United States. You are viewing a vendor master data record on the 1099 FastTab.
A client has unique accounting needs that sometimes require posting definitions.
You need to implement posting definitions.
In which situation should you implement posting definitions?
- A . when financial dimensions need to default from the vendor record onto an invoice
- B . when only certain dimensions are allowed to post with certain mam account combinations
- C . when creating multiple balanced ledger entries based on transaction types or accounts
- D . when the system needs to automatically post a transaction to the accounts receivable account on invoice posting
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.
DRAG DROP
You need to setup a process of tracking, recording, and analyzing costs associated with the products or activities of a nonmanufacturing organization.
You need to configure the prerequisite setup for the standard costing version for the current period.
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.
Explanation:
Reference: https://docs.microsoft.com/en-us/dynamics365/unified-operations/supply-chain/cost-management/prerequisites-standard-costs
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.
Explanation:
Reference: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/cash-bank-management/set-up-centralized-payments
You are configuring automatic bank reconciliation functionality for a company that has multiple bank accounts, The company wants to import their bank statements.
You need to import electronic bank statements to reconcile the bank accounts.
Which three actions can you perform? Each correct answer presents a complete solution. NOTE: Each correct selection is worth one point.
- A . Select all the bank accounts for the bank statement files, and then upload all files
- B . Select Account reconciliation on the bank account form
- C . Import bank statements from the Data management workspace
- D . Navigate to Import statement on the Bank Statements page of Cash and Bank Management
- E . Select Import statement for multiple bank accounts in all legal entities, and then upload a zip file
BDE
Explanation:
Reference: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/cash-bank-management/reconcile-bank-statements-advanced-bank-reconciliation
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.
- A . Configure the Fiscal year close parameters
- B . Configure the ledger calendar for the new fiscal year
- C . Configure the transfer balance
- D . Validate the main account type
- E . Create the next fiscal year
ADE
Explanation:
Reference: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/year-end-close
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.
Explanation:
Reference: https://docs.microsoft.com/en-us/dynamics365/unified-operations/supply-chain/cost-management/costing-versions
A public sector company is configuring encumbrance for managing capital budgets. The finance department needs to configure posting definitions for bank transactions. You need to configure Dynamics 365 for Finance and Operations for cash settlements.
What should you do?
- A . Configure general ledger year-end close.
- B . Configure combined deposit amounts.
- C . Configure budget appropriations.
- D . Configure advanced ledger entries.
A legal entity has locations and customers in multiple states within the United States.
You need to ensure that taxable customers are charged sales tax for taxable items in their delivery location.
Which three settings must you configure? Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point.
- A . the Sales tax group on the Customer record
- B . the Terms of delivery setup
- C . the Item Sales tax group on the Item record
- D . the Sales reporting codes
- E . the Sales tax codes
You are configuring Dynamics 365 for Finance and Operations,
You need to implement posting definitions for all available transaction types.
For which type of transactions can you implement posting definitions?
- A . Accounts payable, Bank. Budget Fixed assets, and Payroll
- B . Accounts payable, Accounts receivable, Budget, and Fixed, assets
- C . Accounts payable, Accounts receivable, Fixed assets, Payroll, and Purchasing
- D . Accounts payable, Accounts receivable. Bank. Budget, Payroll, and Purchasing
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.
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.
DRAG DROP
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.
Explanation:
Reference: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/budget-planning-data-allocation
You are configuring budgeting components in Dynamics 365 for Finance and Operations.
You need to configure multiple budgets.
What are three budgeting options you can use? Each correct answer presents a complete solution. NOTE: Each correct selection is worth one point.
- A . Cost management budget, including Production and Resource groups
- B . Sales budget, including Campaigns and Events
- C . Workforce budget, including Compensation groups and Positions
- D . Project budget, including Items and Fees
- E . Ledger budget, including Revenue and Expense types
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.
Explanation:
Reference: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/budget-planning-data-allocation
You are configuring the Fixed assets module for a Dynamics 365 Finance and Operations environment,
You need to set up the basic configuration to create a fixed asset Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point.
- A . the number sequence
- B . the group
- C . the name
- D . the type
- E . the property type
ABC
Explanation:
Reference: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/fixed-assets/tasks/create-fixed-asset
An organization acquires a building. You need to register-and record the building as an asset building in Dynamics 365 Finance and Operations.
What are three possible ways to achieve the goal? Each correct answer presents a complete solution. NOTE: Each correct selection is worth one point.
- A . Select an acquisition transaction type within a fixed asset journal.
- B . Select an account type of Fixed Asset and a transaction type of Acquisition with a General Journal.
- C . Use the sales order process to acquire the asset.
- D . Eliminate the project to a fixed asset.
- E . Create a sales invoice to record and register the fixed asset.
A client is using the budget planning process in Dynamics 365 for Finance and Operations. Your client requires the ability to plan for a one-year, three-year, and five-year budget. You need to configure the various year length options to be used in the budgeting module.
What should you do?
- A . Configure budget control.
- B . Configure budget codes.
- C . Configure budget allocation terms.
- D . Configure budget cycles.
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.
What should you do?
- A . Reclassify the fixed asset.
- B . Copy the fixed asset.
- C . Change the fixed asset group
- D . Transfer the fixed assets.
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?
- A . Disposal
- B . Acquisition
- C . Value adjustments
- D . Depreciation
DRAG DROP
A company needs to create budget plan templates for its budgeting process.
You need to create the budget plan templates.
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.
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.
Explanation:
Reference: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/accounts-receivable/tasks/review-collections-information
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.
Explanation:
Reference: https://docs.microsoft.com/en-us/dynamics365/finance/accounts-payable/tasks/set-up-accounts-payable-invoice-matching-validation
You are setting up the Accounts payable module and vendor invoice policies for an organization.
You need to set up vendor invoice policies that run when vendor invoices are posted in the system.
In which two ways can you set up the policies? Each correct answer presents a complete solution. NOTE: Each correct selection is worth one point.
- A . Set up invoice matching validation for vendor invoice policy.
- B . Configure the vendor invoice workflow to run the policies.
- C . Run the policies when you post a vendor invoice by using the Vendor invoice page and when you open the Vendor invoice policy violations page.
- D . Apply the policies to invoices that were created in the invoice register or invoice journal.
BC
Explanation:
Reference: https://docs.microsoft.com/en-us/dynamicsax-2012/appuser-itpro/key-tasks-vendor-invoice-policies
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.
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 . Delete any contact person that they have created.
- B . Deny or allow a contact person’s access to documents on the vendor collaboration interface that are specific to the vendor account
- C . View and modify contact person information, such as the person’s title, email address, and telephone number.
- D . View consignment inventory.
D
Explanation:
Reference: https://docs.microsoft.com/en-us/dynamics365/unified-operations/supply-chain/procurement/set-up-maintain-vendor-collaboration
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 payment reference
- B . Select bank transaction type
- C . Select Deposit slip
- D . Select Payment ID
You are configuring the Accounts payable module for a company.
The company needs to set a limit on the charges they will pay for specific items.
You need to set up the limit for charges.
Which two actions should you perform? Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point.
- A . Define the maximum charge amount on the vendor record.
- B . Enter the maximum amount when you set up the charges code.
- C . Use budget control with the specified charges code.
- D . Set the maximum charge amount in the Accounts payable parameters,
- E . Enable invoice matching validation in the Accounts payable parameters.
HOTSPOT
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.
DRAG DROP
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.
Explanation:
Reference: http://d365tour.com/en/microsoft-dynamics-d365o/finance-d365fo-en/collection-letters/
DRAG DROP
An organization sells monthly service subscriptions. The organization sends invoices to customers on the 15th of every month in the amount of $450.00.
You need to set up, configure, and process recurring free text invoices for the customers.
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.
Explanation:
Reference: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/accounts-receivable/set-up-process-recurring-invoices
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 two-way matching and specify the items that require a three-way match.
- C . 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.
- D . Configure a company matching policy of non-required and specify the items that require a three-way match.
- E . Configure a company matching policy of two-way matching and specify the vendors that require a three-way match.
C
Explanation:
Reference: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/accounts-payable/tasks/set-up-accounts-payable-invoice-matching-validation
HOTSPOT
A client confirms a safes order in Dynamics 365 for Finance and Operations. You are viewing the confirmed sales order.
