Microsoft Dynamics 365 Finance Functional Consultant (MB-310)

A client wants to use Dynamics 365 Finance invoice validation functionality.

You need to recommend the invoice validation functionality that meets their requirements.

Which functionality should you recommend for each requirement? To answer, drag the appropriate functionality to the correct requirement. Each functionality 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.

Select and Place:

A company uses Dynamics 365 Finance for budget control.

The company completes the budget control setup and activates the feature. The budget register entries that were posted before turning on budget control are not included in the list of entries.

You need to include the entries posted before budget control was activated.

What should you do?

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.

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.

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

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

A company uses Dynamics 365 Finance.

The customer payment journal must only be available for selection by the accounts receivable user group.

You need to configure the accounts receivable journal name to meet the requirement.

Solution: Configure the posting restriction.

Does the solution meet the goal?

SIMULATION -

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

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

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

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

You manage the consolidation an elimination process in Dynamics 365 Finance for a company.

The company must consolidate financial data from multiple subsidiaries that use different currencies and systems. The company must ensure that intercompany eliminations are correctly processed.

You need to setup and run the consolidation and elimination process in Finance.

How should you complete the configuration? To answer, select the appropriate options in the answer area.

NOTE: Each correct selection is worth one point.

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 company is using Dynamics 365 Finance.

The company sets up items to be deferred by default by sales category for sales orders by completing the following steps:

1. Select items to defer by default.

2. Set up the deferred items for sales order type transactions.

3. Set up category relations for all deferred items.

Transaction lines where the items are entered are not being deferred.

You need to update the configuration to ensure that the transaction lines are deferred as required.

What should you do?

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

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

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

The client currently uses a separate reporting tool to perform their financial consolidation and eliminations. They want to use Dynamics 365 Finance instead.

You need to configure the system and correctly perform eliminations.

Solution: Select Consolidate online in Dynamics 365 Finance. Include eliminations during the process or as a proposal. Set up the transactions to post in the legal entity configured for consolidations.

Does the solution meet the goal?

A company is using Microsoft Dynamics 365 Finance. The company sells one of its assets.

You need to dispose of this asset in the system.

Which transaction type should you use?

A company plans to use Dynamics 365 Finance.

You need to configure basic budgeting.

Which set of actions must you perform?

A utility company uses Dynamics 365 Finance for its recurring contract billing.

The company bills its customers quarterly for water and sewer services based on water meter readings. Pricing depends on usage. The cost is $10 per 1,000 gallons if the usage is under 10,000 gallons and $15 per 1,000 gallons if the usage exceeds 10,000 gallons.

You need to configure the billing schedule group.

How should you complete the setup? To answer, select the appropriate options in the answer area.

NOTE: Each correct selection is worth one point.

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.

HOT AREA

A company uses Dynamics 365 Finance to manage fixed assets.

The company requires partial retirement of a fixed asset by using the split fixed asset functionality.

You need to process the fixed asset split.

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.

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 company uses Dynamics 365 Finance for its ledger settlement process. The company uses multiple currencies for business.

The company requires an automatic, efficient way to process gains and losses to settle accounts, including when the accounting currency amounts differ from the initial recording.

You need to configure the system to post foreign currency realized gains and losses for ledger settlements.

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 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 company plans to implement financial management with Dynamics 365 Finance.

The company must be able to view cost changes for manufactured items without affecting the current active costs.

You need to configure the costing versions.

Which type of costing version should you configure?

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

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

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

The client currently uses a separate reporting tool to perform their financial consolidation and eliminations. They want to use Dynamics 365 Finance 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 customer implements Dynamics 365 Finance.

The customer observes that during foreign currency revaluation of the Accounts Receivable subledger, the results are not as expected.

You need to re-run the foreign currency revaluation of the Accounts Receivable subledger.

Which currency revaluation method should you use for each requirement? To answer, drag the appropriate methods to the correct requirements. Each method 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.

Select and Place:

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 two account structures: one for liability accounts listing the (2000-2999) range with no following dimensions and one for Expense and Revenue accounts.

✑ For Expense accounts (6000-6998) and Revenue accounts (4000-4999), configure asterisks in all dimension columns.

✑ For Expense account (6999), configure asterisks in all dimensions. Configure an asterisk and quotes in the customer dimension.

Does the solution meet the goal?

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.

HOT AREA

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

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

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

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

Solution: Configure a posting definition for purchase orders.

Does the solution meet the goal?

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

What should you check?

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

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

What should you do?

SIMULATION -

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

You need to apply a constant currency exchange rate to calculate the reporting currency value of fixed assets.

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

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.

You 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.

Select and Place:

SIMULATION -

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

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

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

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

You need to adjust the sales tax configuration to resolve the issue for User3.

What should you do?

SIMULATION -

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

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

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

A client is implementing the Budgeting module in Dynamics 365 Finance.

You need to configure the correct budget control area to meet the client's requirements.

✑ Track budgeting control on purchase requisitions.

✑ Include unposted actual transactions in the calculation of the remaining budget for the period.

✑ Allow specific individuals to post transactions that exceed the budget.

✑ Specify main accounts that are subject to budget control, instead of selecting Main account as a dimension for budgeting.

What should you configure? To answer, select the appropriate configuration in the answer area.

NOTE: Each correct selection is worth one point.

HOT AREA

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.

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.

HOT AREA

You need to prevent the issue from reoccurring for User5.

What should you do?

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?

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

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

A company is preparing to complete yearly budgets.

The company plans to use the Budget module in Dynamics 365 Finance 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?

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

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

A client has one legal entity, two departments, and two divisions. The client is implementing Dynamics 365 Finance. The departments and divisions are set up as financial dimensions.

The client has the following requirements:

✑ Only expense accounts require dimensions posted with the transactions.

✑ Users must not have the option to select dimensions for a balance sheet account.

You need to configure the ledger to show applicable financial dimensions based on the main account selected in journal entry.

Solution: Configure one account structure for expense accounts and apply advanced rules.

Does the solution meet the goal?

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.

Select and Place:

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?

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.

Select and Place:

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

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

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

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

Solution: Configure item posting groups for purchase requisitions.

Does the solution meet the goal?

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

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

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

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

Solution: Set up posting definitions for purchase requisitions.

Does the solution meet the goal?

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.

✑ Configure an advanced rule for Liability accounts (2000-2999) not to display any dimensions when selected.

✑ Configure an advanced rule for Expense account (6999) to require customer.

✑ Configure the structure with all dimension fields containing quotations.

Does the solution meet the goal?

A customer uses Dynamics 365 Finance to manage budgets.

You review a customer's budget funds available calculation and discover that the budget amounts posted two weeks ago are not reflected in the budget control check on a purchase order.

You verify that budget control is set to active.

You need to determine why the budget posted two weeks ago is not reflecting correctly.

What should you do?

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.

You need to acquire the fixed assets that are associated with the purchase orders.

What should you do?

You are implementing Dynamics 365 Finance.

You must track freight charges. Freight amounts must be included in the vendor invoice amount and the expense recorded in a ledger account defined for Freight.

You need to configure the Accounts payable charges.

How should you set up the charges? To answer, drag the appropriate posting type to the correct account type. Each posting 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.

Select and Place:

You are implementing Dynamics 365 Finance and have deployed one instance with the following legal entities:

You need to configure the ledger.

Which ledger currencies should be configured? To answer, drag the appropriate currency type to the ledger currency. Each currency 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.

Select and Place:

You are the controller of a multi-entity organization that uses the same chart of accounts and fiscal periods across all entities. You use the financial report designer in Dynamics 365 Finance to create, maintain, deploy, and view financial statements.

You need to generate consolidated financial statements by using a building block group to aggregate data across companies and financial dimensions.

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

NOTE: Each correct selection is worth one point.

A customer implements Dynamics 365 Finance.

The customer needs to use the cost accounting module for the following:

✑ Track the square footage occupied at each of the customer's store locations.

✑ Track and categorize costs as primary or secondary.

✑ Classify costs as direct or indirect

You need to configure the system.

NOTE: Each correct selection is worth one point.

HOT AREA

A client uses Dynamics 365 Finance for accounts receivable.

You need to ensure that accounts receivable clerks add the wire number for electronic payments.

Which item should you set up as mandatory in the method of payment?

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 task can this vendor perform?

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.

Select and Place:

You need to identify why the sales orders were 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 selection is worth one point.

HOT AREA

A company uses Dynamics 365 Finance to manage billing and expenses for projects. Team members complete expense reports and submit the expense reports to a project manager for approval.

Each expense report must contain expense lines for one project only. Expense reports that are submitted without a project specified must be rejected.

You need to configure an expense report approval workflow.

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

NOTE: Each correct selection is worth one point.

SIMULATION -

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

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

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

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

A company wants to track balance sheet accounts 10000..39999 by using different dimensions than their profit and loss accounts 40000..99999. The company wants to track the Customer financial dimension for profit and loss accounts.

The company sets up the following structure:

NOTE: Each correct selection is worth one point.

HOT AREA

You manage fixed assets using Microsoft Dynamics 365 Finance.

You need to define capitalization thresholds.

Which page should you use?

A company is implementing Microsoft Dynamics 365 Finance.

The company is configuring depreciation for company vehicles. Vehicles must be depreciated by using straight-line service life on the 15th day of each month.

You need to configure vehicle depreciation.

What 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.

Select and Place:

A company uses Dynamics 365 Finance to manage fixed assets. The company's fiscal year is set as the calendar year.

The company requires two books for each fixed asset. The company has the following requirements for the books:

You need to configure a fixed asset group book setup to meet the requirements.

Which depreciation conventions and depreciation profiles should you use? To answer, select the appropriate options in the answer area.

NOTE: Each correct selection is worth one point.

HOT AREA

A company is configuring the Microsoft Dynamics 365 Finance Fixed asset module.

You must configure depreciation for fixed assets. The company has the following assets and requirements:

You need to configure the assets to meet the depreciation requirements.

Which depreciation method should you use? To answer, select the appropriate options in the answer area.

NOTE: Each correct selection is worth one point.

HOT AREA

A company is implementing Dynamics 365 Finance.

The company purchases fixed assets using a purchase order. The company must post tax-specific transactions related to the fixed assets so the transactions can be reported separately.

You need to configure the system.

What should you configure? To answer, select the appropriate options in the answer area.

NOTE: Each correct selection is worth one point.

HOT AREA

A company uses Microsoft Dynamics 365 Finance. The company purchases, creates, and acquires fixed assets by using purchase orders.

The system must acquire the fixed asset when a vendor invoice is posted.

You need to process the transaction.

What should you do?

A company is implementing Microsoft Dynamics 365 Finance.

The company is configuring the fixed asset functionality and has the following requirements:

✑ Manually add an additional depreciation amount the first year a machine is put in service.

✑ Depreciate a company vehicle based on the number of miles it has traveled.

You need to configure the depreciation for the assets.

Which depreciation method should you use? To answer, drag the appropriate depreciation methods to the correct assets. Each method 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.

Select and Place:

A company uses Microsoft Dynamics 365 Finance and Dynamics 365 Project Operations.

The company must be able to estimate the costs of a project and create a fixed asset by using the project cost estimate.

You need to ensure that the company can create a fixed asset from a project.

Which project type should you use?

Your company uses Dynamics 365 Finance.

All fixed assets are categorized by asset type. For example, office furniture is sequentially numbered, has the same service life, and uses the same depreciation deduction calculation.

You need to configure the system.

Which two parameters should you set up? Each correct answer presents part of the solution.

NOTE: Each correct selection is worth one point.

A company plans to allocate revenue across occurrences by using recognition basis.

Which recognition basis can you use?

A company signs a four-year contract for an IT support project. The manager wants to know how the revenue amounts will be allocated across the four-year period.

You need to implement a revenue schedule to determine the revenue amounts for each month.

Which setup should you use?

A company plans to allocate revenue across occurrences by using recognition basis.

Which recognition basis can you use?

You have implemented Dynamics 365 Finance.

You must configure revenue recognition to handle deferring revenue and revenue reallocation.

You need to configure the posting profile.

What should you do? To answer, drag the appropriate posting profiles to the correct scenario. Each posting profile 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.

Select and Place:

You manage customer credit and collections in a Dynamics 365 Finance implementation.

At the beginning of each month, you must send collection letters to customers whose payments are overdue.

You need to configure the collection letter functionality.

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.

Select and Place:

A company that sells computer equipment uses Microsoft Dynamics 365 Finance. The company is creating bundles that include a computer and a three-year warranty.

The company configures revenue recognition.

You need to configure revenue types for the bundle components.

Which revenue type should you use? To answer, drag the appropriate revenue types to the correct components. 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.

Select and Place:

A company manufactures air filtering units for industrial manufacturing plants.

The company offers specific incentives if customers pay within a certain number of days to include:

✑ 10 percent off if paid in full within 5 days

✑ 5 percent off if paid in full within 10 days

Customers who pay by electronic funds transfer (EFT) will be charged $15 per transfer.

You need to configure the system.

Which option should you use? To answer, select the appropriate configuration in the answer area.

NOTE: Each correct selection is worth one point.

HOT AREA