Microsoft MB-310 Microsoft Dynamics 365 Finance Functional Consultant Online Training
Microsoft MB-310 Online Training
The questions for MB-310 were last updated at Dec 20,2024.
- Exam Code: MB-310
- Exam Name: Microsoft Dynamics 365 Finance Functional Consultant
- Certification Provider: Microsoft
- Latest update: Dec 20,2024
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 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
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.
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
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
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.
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
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
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