Free Microsoft Dynamics 365 for Finance and Operations Financials Exam MB-310 Exam Practice Test

You are configuring the basic budgeting for a Dynamics 365 Finance environment.You need to configure the types of entries allowed.Which two configurations can you use? Each correct answer presents a complete solution.NOTE: Each correct selection is worth one point,

• The budget register entry journals require both Expense and Revenue amount types.
• Budget register entry line needs a main account and amount to be valid.
• Budget register entry journals must be allocated across all fiscal periods.
• Budget register entry lines must select only one account structure.
• The budget register entries can contain either Expense or Revenue amount types.

A customer implements Dynamics 365 Finance and wants to use the recurring invoice feature for accounts receivable.The recurring invoice template includes the start date and frequency. However, when the Generate recurring invoices job processes, invoices are not created despite the criteria being met.You need to ensure that invoices are generated.What should you do?

• Associate a customer to the invoice template on the invoice template form
• Set the maximum billing amount on the recurring invoice template.
• Assign an invoice template to the customer posting profile.
• Assign an invoice template to a customer on the invoice tab of the customer record.

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.You are configuring the year-end setup in Dynamics 365 for Finance and Operations.You need to configure the year-end setup to meet the following requirements:The accounting adjustments that are received in the first quarter must be able to be posted in to the previous year's Period 13.The fiscal year closing can be run again, but only the most recent closing entry will remain in the transactions.All dimensions from profit and loss must carry over into the retained earnings.All future and previous periods must have an On Hold status.Solution:Configure General ledger parameters.- Set the Delete close of year transactions option to No.- Set the Create closing transactions during transfer option to No.- Set the Fiscal year status to permanently closed option to No.Define the Year-end close template.- Designate a retained earnings main account for each legal entity.- Set the Financial dimensions will be used on the Opening transactions option to No.- Set the Transfer profit and loss dimensions' option to Close All.Set future Ledger periods to a status of On Hold.Does the solution meet the goal?

• Yes
• No

A company manufactures air filtering units few industrial manufacturing plants.During the acquisition of one of the components that is used in the unit, an agreement is reached that the $25. 000 component mil be paid for in the following schedule:* The first payment will be $10,000* The remaining balance will be distributed equally and due on the 15m of the month for the next three months. You need to configure the system for the payment schedule.What should you do?

• Enter $25,000 in the Amount of Transaction Quantity field.
• Use the Specified allocation method.
• Set the Fixed allocation method Rued Amount field lot the monthly amount.
• Specify a fixed quantity payment of 5.

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?

• Yes
• No

You plan to manage delinquent customers by monitoring the collection process in Dynamics 365 Finance. You need to use the Collections list page to monitor the collection process. What must you do first?

• Set up customer groups.
• Set up customer pools.
• Update financials.
• Age customer balances.

Your company uses Dynamics 365 FinanceAll 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 solutionNOTL Each correct selection is worth one point.

• appreciation convention
• derived book
• deprecation profile
• fixed asset group

A company uses Microsoft Dynamics 365 Finance to manage fixed assets. The company uses laptops 'ex three years and then sells the laptops externally. You need 10 process laptop sales. What should you do?

• Create a fixed asset disposal journal
• Create a sales order tor the sale of the asset.
• Use a free text invoke to record the sale
• Use an inventory movement journal to record the disposal.

A company plans to allocate revenue across occurrences by using recognition basis.Which recognition basis can you use?

• Mid-month split
• first of month
• Monthly by dates
• First of next month

A company implements basic budgeting functionality in Dynamics 365 Finance.Budget managers must be notified of a budget register posting task after a finance director approves an entry.You need to configure the system.Which workflow element should you use?

• Update budget balances budget register
• Approve budget account entry
• Commitment approval
• Budget planning stage allocation