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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Implement and Manage General Ledger and Cost Accounting | 25-30% | - Implement Cost Accounting
|
| Topic 2: Implement and Manage Accounts Payable and Receivable | 25-30% | - Implement Accounts Receivable
|
| Topic 3: Implement and Manage Fixed Assets | 10-15% | - Configure Fixed Assets
|
| Topic 4: Configure and Implement Core Financial Functions | 20-25% | - Configure cash flow management
|
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NEW QUESTION # 18
A company is using vendors to produce components for its products.
Journal types are not configured to support vendor invoices-
You need to identify and configure journals to use for vendor invoices.
Which journal types should you use? To answer, select the appropriate options in the answer area, NOTE: Each correct selection is worth one point.
Answer:
Explanation:
NEW QUESTION # 19
You are creating a payment proposal that shows invoices that are eligible to be paid.
You display the Accounts payable Payment proposal screen from the Accounts payable payment journal.
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.
Answer:
Explanation:
Explanation
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/accounts-payable/create-vendor-payments-payment-prop
NEW QUESTION # 20
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.
Answer:
Explanation:
Explanation:
NEW QUESTION # 21
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 # 22
A client confirms a safes order in Dynamics 365 for Finance and Operations. You are viewing the confirmed sales order.
Answer:
Explanation:
Explanation:
NEW QUESTION # 23
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