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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 with import.
Does the solution meet the goal?
- A. Yes
- B. No
Answer : B
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/consolidation-elimination-overview
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: Create a separate company in which you manually create the eliminations. Then, use that company in financial reporting or in the consolidation process.
Does the solution meet the goal?
- A. Yes
- B. No
Answer : A
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/consolidation-elimination-overview
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: Set up Elimination rules in the system. Then, run an elimination proposal. Configure the rules to post to any company that has Use for financial elimination process selected in the legal entity setup.
Does the solution meet the goal?
- A. Yes
- B. No
Answer : A
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/consolidation-elimination-overview
DRAG DROP -
A public sector organization wants to set up the derived financial hierarchy to analyze posted transaction data.
You need to set up the derived financial hierarchy to generate an outgoing electronic document.
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.
Select and Place:
Answer :
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/public-sector/tasks/set-up-derived-financial-hierarchy-public-sector
You work for a company that receives invoices in foreign currencies.
You need to configure the currency exchange rate providers and exchange rate types.
What should you do?
- A. Configure exchange rate provider, create exchange rate type, and import the currency exchange rates.
- B. Select the appropriate HTML key values from the available exchange rate providers. Then, use the provider for importing one currency exchange rate type.
- C. Use a developer to write the HTML key values code to configure the currency exchange rate providers. Then, use the provider for importing a currency exchange rate type.
- D. Use a developer to write the XML key values code to configure the currency exchange rate providers. Then, use the provider for importing a currency exchange rate type.
Answer : A
References:
https://community.dynamics.com/365/financeandoperations/b/365operationsbysandeepchaudhury/posts/configure-currency-exchange-rate-providers-and-import- exchange-rates-automatically-in-dynamics-365-for-finance-and-operations
Users are posting project transactions and bank transactions incorrectly in the General journal. The client wants to prevent this from happening in the future.
You need to configure Dynamics 365 Finance to limit the account type transactions to only ledger.
What should you do?
- A. Use journal control to specify which account types are valid for the General ledger journal.
- B. Use advanced ledger entries to define the account types that can be used in the General ledger journal.
- C. Configure the voucher series associated with this journal to allow only ledger account types.
- D. Create a journal template that has ledger as the account type and offset account type.
Answer : B
SIMULATION -
You are a functional consultant for Contoso Entertainment System USA (USMF).
You plan to settle accounts by receiving cash payments in US currency.
You need to create a cash receipts journal that uses the US dollar currency.
To complete this task, sign in to the Dynamics 365 portal.
Answer : See explanation below.
1. Navigate to Finance > Cash Receipt Journals.
2. Click the +New link to add a new cash receipt journal.
3. Fill in the required fields including the currency field.
SIMULATION -
You are a functional consultant for Contoso Entertainment System USA (USMF).
You need to apply a constant currency exchange rate to calculate the reporting currency value of fixed assets.
To complete this task, sign in to the Dynamics 365 portal.
Answer : See explanation below.
The currency Translation Type needs to be set to Current. This option uses the last rate on or before the period specified in the report regardless of what the exchange rate was at the time of purchase for each asset.
1. Navigate to General Ledger > Chart of Accounts > Accounts > Main Accounts.
2. Select the Financial Reporting account.
3. In the Reporting currency exchange rate type, select Current from the drop-down list.
4. Click Save to save the changes.
An organization plans to use defined journal names for each purpose. They want to ensure that journal processing is easier and more secure.
The organization has the following requirements:
✑ Set up restrictions on the account type and segment values.
✑ Capture data accurately for offset accounts, currency, and financial dimensions.
✑ Maintain internal control and establish materiality limits.
You need to set up journal name elements to meet these requirements.
Which three journal elements should you configure? Each correct answer presents part of the solution.
NOTE: Each correct selection is worth one point.
- A. workflow approval
- B. account type
- C. journal type
- D. default values
- E. journal control
Answer : ADE
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/general-journal-processing
HOTSPOT -
You must configure journal controls in Dynamics 365 Finance.
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.
Hot Area:
Answer :
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/general-journal-processing
HOTSPOT -
You create a financial dimension set named MA + DEPT + PROJ as shown in the following screenshot. The financial dimension set includes the following dimensions:
✑ Main Account
✑ Department
Project -
Use the drop-down menus to select the answer choice that answers each question based on the information presented in the graphic.
Hot Area:
Answer :
DRAG DROP -
A client has Accounts payable invoices in their legal entity in three different currencies. It is month-end, and the client needs to run the foreign currency revaluation process to correctly understand their currency exposure.
You need to set up Dynamics 365 Finance to perform foreign currency revaluation.
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.
Select and Place:
Answer :
HOTSPOT -
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.
Hot Area:
Answer :
HOTSPOT -
You are asked to configure a main account in Dynamics 365 Finance.
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.
Hot Area:
Answer :
DRAG DROP -
You are implementing Dynamics 365 Finance. A new product is being released.
The system must track the probability of the new product by cost center and you must use the cost control workspace.
You need to configure the system.
Which option should you use? To answer, drag the appropriate option to the correct requirement. Each value 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.
Select and Place:
Answer :
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/cost-accounting/terms-cost-accounting
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