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| Section | Weight | Objectives |
|---|---|---|
| Manage fixed assets | 10–15% | - Manage asset leasing and valuation - Perform fixed asset reporting and inquiries - Configure fixed assets parameters and groups - Acquire, depreciate, and dispose of fixed assets |
| Implement and manage accounts payable and expenses | 10–15% | - Manage vendors and vendor transactions - Process invoices, payments, and prepayments - Configure expense management and travel workflows - Configure accounts payable parameters and profiles
|
| Manage cash, bank, tax, and cost accounting | - Implement cost accounting and cost management - Configure consolidation and elimination processes - Configure bank management and reconciliation - Set up tax calculation and reporting | |
| Implement financial management | 40–45% | - Implement financial closing processes - Manage general ledger journals and transactions - Configure financial dimensions
- Design and configure chart of accounts
|
| Implement accounts receivable, credit, collections, and subscription billing | 15–20% | - Configure accounts receivable parameters and profiles
- Configure credit management and limits - Manage customers and customer transactions - Set up collections processes and workflows |
| Manage budgeting | 10–15% | - Configure budgeting parameters and dimensions - Allocate and control budgets - Perform budget forecasting and analysis - Create and revise budget plans |
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NEW QUESTION # 319
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.
Answer:
Explanation:
Topic 3, Alpine Ski House
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.
Intercompany setup
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 entertainment 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.
NEW QUESTION # 320
A company plans to implement basic budgeting functionality in Dynamics 365 Finance.
You need to configure the minimum number of components to enable functionality.
Which three required components should you configure?
Each correct answer presents part of the solution.
NOTE: Each correct selection is worth one point
Answer: C,D,E
Explanation:
To implement basic budgeting in Dynamics 365 Finance, you need to configure organizational structures, define financial dimensions, set up budget models, and create budget register entries.
This involves defining budget parameters, analyzing budget versus actual performance, and using inquiries and reports.
1. Prerequisites:
Organizational Hierarchy: Define the structure of your organization to reflect how budgets will be managed.
Chart of Accounts and Fiscal Calendars: Ensure your accounting structure and fiscal period definitions are set up correctly.
[B] Financial Dimensions: Identify the dimensions (e.g., department, project, cost center) that will be used for budgeting.
Account Structures: Define how accounts are structured for budgeting.
Currency Exchange Rate: If you're using multiple currencies, ensure exchange rates are configured.
Budget Journal Type: Establish the type of budget journal for recording budget entries.
2. Setting up Budgeting:
[A] Define Budget Parameters: Configure parameters like the budget version, time period, and budget code.
[C] Set up Budget Models: Create the specific budget plans or scenarios you'll be using.
Create Budget Register Entries: Enter budget amounts against the defined dimensions and accounts.
[C] Budget Control: Implement budget control if you want to restrict spending to approved budget amounts.
[A] Note: Number sequences are required for basic budgeting in Dynamics 365 Finance.
Specifically, you need to set up number sequences for budget register entries. These sequences help ensure that each budget entry has a unique reference number.
Reference:
https://learn.microsoft.com/en-us/training/modules/setup-use-basic-budgeting-finance/
NEW QUESTION # 321
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.
Answer:
Explanation:
Explanation
Reference:
https://docs.microsoft.com/en-us/dynamics365/supply-chain/procurement/tasks/create-purchase-agreement
NEW QUESTION # 322
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.
Answer:
Explanation:
NEW QUESTION # 323
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 company sells extended warranty services that use a project fee journal.
You need to recognize unearned revenue for the extended warranty service over time.
Solution: Configure the project ledger posting for the fee category to post to the unearned revenue account, set up a deferral template, configure the deferral default for project fees, and recognize the unearned revenue from the deferral schedule.
Does the solution meet the goal?
Answer: A
Explanation:
Posting the project fee to an unearned revenue (liability) account and using a deferral template with deferral defaults for project fees creates a deferral schedule that recognizes revenue over time. Recognizing the revenue from the deferral schedule ensures the warranty revenue is earned and posted gradually rather than immediately.
NEW QUESTION # 324
......
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