MB-310 : Microsoft Dynamics 365 Finance : Part 05

MB-310 : Microsoft Dynamics 365 Finance : Part 05

1. HOTSPOT

   A company sells goods to a customer. You enter an invoice for the customer on June 25. The invoice is eligible for a cash discount of two percent if it is paid in five days, and a discount of one percent if it paid in 14 days.

   You need to create a payment journal when the invoices are settled on specific dates.

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

   NOTE: Each correct selection is worth one point.

   

   

2. 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?

   • Yes
   • No

3. 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?

   • Yes
   • No

4. 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?

   • Yes
   • No

5. DRAG DROP

   A customer plans to implement invoice validation policies.

   You need to recommend the features needed to meet each of the customer’s requirements.

   What should you recommend? 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.

   

   

6. 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?

   • Activate or inactivate the association between a contact person and a vendor account.
   • Delete any contact person that they have created.
   • View and modify contact person information, such as the person’s title, email address, and telephone number.
   • View consignment inventory.
   Explanation:

   Note:
   There are several versions of this question in the exam. The question has two possible correct answers:
   1. View consignment inventory.
   2. Maintain vendor collaboration invoices.

   Other incorrect answer options you may see on the exam include the following:
   1. Add a new or existing contact person to the vendor accounts that they are a contact for.
   2. Request a new user account for a contact person by using the Provision user action.
   3. Deny or allow a contact person’s access to documents on the vendor collaboration interface that are specific to the vendor account.
   4. Maintain vendor collaboration invoices.

7. A client uses Dynamics 365 Finance for accounts receivable.

   You need to configure the method of payment to enforce the accounts receivable clerk to enter the wire number for the received electronic payment.

   Which item should you set up as mandatory?

   • Select bank transaction type
   • Select payment reference
   • Select Payment ID
   • Select Deposit slip

8. HOTSPOT

   A company has delinquent customers.

   You need to configure Dynamics 365 Finance to meet the following requirements:

   – Send communication to the customers detailing their past-due invoices.
   – Use the system to automatically calculate a late charges.
   – Create a group of customers for a collection agent to monitor.
   – View a list of customers with colored indicators of a customer’s payment status.

   You need to associate the correct system functionality to manage delinquent customers based on these business requirements.

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

   NOTE: Each correct selection is worth one point.

   

   

9. HOTSPOT

   A client confirms a sales order in Dynamics 365 Finance.

   You are viewing the confirmed sales order.

   

   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.

   

   

10. DRAG DROP

    An organization sells monthly service subscriptions. The organization sends invoices to customers on the 15th of every month in the amount of $450.00.

    You need to set up, configure, and process recurring free text invoices for the customers.

    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.

    

    

11. You are configuring the Accounts payable module for a company.

    The company needs to set a limit on the charges they will pay for specific items.

    You need to set up the limit for charges.

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

    NOTE: Each correct selection is worth one point.

    • Enable invoice matching validation in the Accounts payable parameters
    • Enter the maximum amount when you set up the charges code
    • Use budget control with the specified charges code
    • Set the maximum charge amount in the Accounts payable parameters
    • Define the maximum charge amount on the vendor record

12. DRAG DROP

    You are a Dynamics 365 Finance functional consultant. A legal entity processes and settles vendor payments on behalf of other legal entities in an organization.

    You need to configure the centralized payment flow for the legal entity.

    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.

    NOTE: More than one order of answer choices is correct. You will receive credit for any of the correct orders you select.

    

    

13. 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?

    • Request a new user account for a contact person by using the Provision user action.
    • Maintain vendor collaboration invoices.
    • Delete any contact person that they have created.
    • View and modify contact person information, such as the person’s title, email address, and telephone number.
    Explanation:

    Note:
    There are several versions of this question in the exam. The question has two possible correct answers:
    1. View consignment inventory.
    2. Maintain vendor collaboration invoices.

    Other incorrect answer options you may see on the exam include the following:
    1. Add a new or existing contact person to the vendor accounts that they are a contact for.
    2. Request a new user account for a contact person by using the Provision user action.
    3. Deny or allow a contact person’s access to documents on the vendor collaboration interface that are specific to the vendor account.
    4. Maintain vendor collaboration invoices.

14. HOTSPOT

    

    You are asked to configure the method of payments for vendors.

    You are viewing an Accounts payable method of payment.

    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.

    

    

15. DRAG DROP

    A company makes frequent payments to its vendors by using various due dates and discounts.

    You need to set up and create a vendor payment by using a payment proposal.

    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.

    

    

16. HOTSPOT

    A client is using Dynamics 365 Finance for sales order processing and accounts receivable. The client has two customer groups and two Accounts receivable trade accounts. Foreign customers in Group 80 are assigned to account 12001. Domestic customers in Group 40 are assigned to account 12000.

    You are viewing the client’s current setup of Customer posting profiles.

    

    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.

    

    

17. 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.

    • See explanation below.
    Explanation:

    You need to add a write-off reason for USMF and set it as the default.

    1. Go to Navigation pane > Modules > Credit and collections > Setup > Accounts receivable parameters.
    2. Click the Collections tab.
    3. Click the Edit icon in the Write-Off section.
    4. Add a new Write-Off reason if it doesn’t exist.
    5. Tick the “Default” checkbox next to the new Write-Off reason.
    6. Click the Save button to save the changes.

18. HOTSPOT

    A private sector client needs item groups set up to support the procurement process.

    The Audio Item group posting for a purchase order is configured as shown:

    

    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.

    

    

19. SIMULATION

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

    You need to automate the allocation of a prepaid expense of 2 percent of all product sales. The allocation must be posted to account number 222222.

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

    • See explanation below.
    Explanation:

    You need to configure a prepayment percentage for all items. The instructions below are for a single item. For this question, you need to select ‘All’ for all items, enter 2 in the percentage field and select account number 222222 in the account field.

    To set up prepayment percentages for items, customers, and vendors
    For an item, you can set up a default prepayment percentage for all customers, a specific customer, or a customer price group.
    1. Choose the

    

    icon, enter Items, and then choose the related link.
    2. Select an item, and then choose the Prepayment Percentages action.
    3. On the Sales Prepayment Percentages page, fill in the fields as necessary. Hover over a field to read a short description.

20. HOTSPOT

    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.