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| Section | Weight | Objectives |
|---|---|---|
| Implement accounts receivable, credit, collections, and subscription billing | 15–20% | - Configure credit management and limits - Implement subscription billing and revenue recognition - Configure accounts receivable parameters and profiles
- Manage customers and customer transactions |
| Implement and manage accounts payable and expenses | 10–15% | - Process invoices, payments, and prepayments - Configure expense management and travel workflows - Manage vendors and vendor transactions - Configure accounts payable parameters and profiles
|
| Implement financial management | 40–45% | - Manage currencies and exchange rates
- Manage general ledger journals and transactions - Configure financial dimensions
- Configure financial reporting and inquiries |
| Manage cash, bank, tax, and cost accounting | - Configure consolidation and elimination processes - Configure bank management and reconciliation - Implement cost accounting and cost management - Set up tax calculation and reporting | |
| Manage budgeting | 10–15% | - Configure budgeting parameters and dimensions - Create and revise budget plans - Allocate and control budgets - Perform budget forecasting and analysis |
| Manage fixed assets | 10–15% | - Perform fixed asset reporting and inquiries - Manage asset leasing and valuation - Configure fixed assets parameters and groups - Acquire, depreciate, and dispose of fixed assets |
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NEW QUESTION # 301
A company plans to implement expense management in Dynamics 365 Finance. The finance manager requires the following functionality:
* Define rules that employees must follow to submit an expense report.
* Share expense classifications between expense management and project accounting.
* Approve expenses on behalf of another employee.
You need to recommend configuration options.
Which configuration options should you recommend?
To answer, select the appropriate options in the answer area.
Answer:
Explanation:
Explanation:
NEW QUESTION # 302
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.
Answer:
Explanation:
Explanation:
NEW QUESTION # 303
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.
Answer:
Explanation:
Explanation:
NEW QUESTION # 304
You need to resolve the issue related to monthly lease expenses.
How should you configure asset leasing? To answer, select the appropriate options in the answer area.
NOTE: Each correct selection is worth one point.
Answer:
Explanation:
Explanation:
To resolve the issue related to monthly lease expenses in Dynamics 365 Finance, you should configure the asset leasing settings as follows:
* Requirement: Confirm payment schedules.Configuration: Confirm schedules in a batch.This option ensures that the payment schedules for all leases are confirmed at once, simplifying the process of managing multiple leases.
* Requirement: Create journal entries.Configuration: Set up batch processing to create journal entries.
This setting automates the creation of journal entries for lease payments, which is essential for handling monthly lease expenses consistently.
* Confirm Payment Schedules in a Batch:
* Go to Asset leasing > Periodic tasks > Confirm lease payment schedules.
* Select Batch processing to confirm schedules for all leases at once. This option streamlines the confirmation process, ensuring that all lease payment schedules are up-to-date.
Reference: Microsoft documentation on batch processing for lease payment confirmations in Dynamics 365 Finance.
Set Up Batch Processing for Journal Entries:
Navigate to Asset leasing > Lease transactions > Create journal entries.
Choose Set up batch processing to automatically generate journal entries for lease payments. This process enables consistent tracking of monthly lease expenses and aligns with standard accounting practices for asset leasing.
Reference: Dynamics 365 Finance documentation on automating lease journal entries with batch processing.
By configuring these options, you ensure that payment schedules and journal entries are managed effectively through batch processing, which is critical for managing monthly lease expenses in Dynamics 365 Finance.
Topic 7, Adventure Works Cycles
Background
Adventure Works Cycles is a North American-based company that sells and fixes bicycles. The company is modernizing its business processes by implementing Dynamics 365 Finance.
The company recently expanded its business into bicycle leasing. The leasing business is expanding into Canada due to high demand.
Adventure Works Cycles has one legal entity, two cost centers, and three divisions within each cost center.
The company also has a centralized budgeting process to the lowest level.
The operating currency of the legal entity is the US dollar (USD).
Adventure Works Cycles operates on a 4-5-4 calendar, which is used to make sure that the sales are evenly distributed across all months, including weekends.
Current Environment
* Adventure Works Cycles tracks its international vendors in a separate payable account from its domestic vendors.
* Only bicycle frame inventory is configured with a separate item model group that requires registration.
* A thirteenth month is required for year-end transactions.
* Only members from the accounts payable team are able to post transactions to a prior period after the period is closed to the company.
* Fourth Coffee is a Canadian-based coffee chain whose operating currency is the Canadian dollar (CAD).
Fourth Coffee entered into a lease agreement for 150 branded bicycles totaling CAD75,000.
* Adventure Works Cycles frequently receives invoices in foreign currencies.
Requirements
* Three-way matching is required only on competition bicycles priced over USD3,000 that are purchased from Fabrikam, Inc., in Europe.
* Domestic customers and international customers must be managed in the following ways:
o Domestic customer receivables must post to account 1200.
o International customer receivables must post to account 1201.
o Domestic customers must have a payment term of net 30.
o International customers must have a payment term of net 15.
o Domestic customer revenue must post to account 4000.
o International customer revenue must post to account 4001.
* Adventure Works Cycles must be able to use the cash flow forecasting capability in Finance.
* The system must enable tracking and charging interest for customer accounts that are not current.
* Automatic charges must be configured on vendor invoices for bicycle tires. The cost must be added to each item on the vendor invoice.
* Adventure Works Cycles must be able to terminate leases for bicycles at any time.
* Adventure Works Cycles must be able to closely track its budget by enforcing the budget at the cost center level.
* The system must run Vendor aging reports by listing the transactions that are included in the reports ' balance, unsettled payments, and aging period descriptions.
Issues
* The accounts payable clerk processes an invoice for bicycle frames and a partial invoice for helmets. The clerk observes that the quantities on the vendor invoices are incorrect. The invoices require the correct line quantity selections so that the invoices process accurately.
* The accounts payable clerk processes an invoice and observes that the product receipt quantity match for bicycle seat posts ordered from Fabrikam, Inc., is blank. However, the invoice passes validation.
* The accounts payable manager observes that a sales order is posted to the prior period that is closed.
* During foreign currency revaluation of the Accounts payable subledger, posting occurred only if the result was a loss.
* On a vendor invoice for bicycle tires, the automatic charge is charged as an expense.
* Due to a breach of contract, a member of the finance team needs to terminate a bicycle lease. However, the Termination proposal button is unavailable.
* The accounts payable clerk is unable to review payments that have not been settled on the Vendor aging report.
NEW QUESTION # 305
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.
Answer:
Explanation:
Explanation:
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/accounts-payable/vendor-invoices-overview
NEW QUESTION # 306
......
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