Free MB-310 Sample Questions — Microsoft Dynamics 365 Finance Functional Consultant

You are configuring automatic bank reconciliation functionality for a company that has multiple bank accounts. The company wants to import their bank statements. You need to import electronic bank statements to reconcile the bank accounts. Which three actions can you perform? Each correct answer presents a complete solution. NOTE: Each correct selection is worth one point.

• A. Select all the bank accounts for the bank statement files, and then upload all files
• B. Select Account reconciliation on the bank account form
• C. Import bank statements from the Data management workspace
• D. Navigate to Import statement on the Bank Statements page of Cash and Bank Management
• E. Select Import statement for multiple bank accounts in all legal entities, and then upload a zip file

A company uses Dynamics 365 Finance. The company accepts customer payments in installments. You must configure the number of installments, the amount of each installment, and a due date of each installment for a payment schedule to determine the revenue allocation for each month. You must provide the total revenue amounts allocated over a period for a specific payment. You need to configure the system to allocate the total outstanding amount of an invoice. What should you configure?

• A. Terms of payment
• B. Payment days
• C. payment schedule with a method of allocation set to Fixed amount
• D. payment schedule with a method of allocation set to Total

You manage the ledger settlement process for a company in Dynamics 365 Finance. The company requires an improved settlement process. You enable the Awareness between ledger settlement and year-end close feature to include only unsettled ledger transactions in the opening balance during the year-end process. The company must be able to settle transactions and handle realized gains and losses for foreign currency differences without any manual intervention. You need to configure the system to meet the requirements. What should you do?

• A. Set up a new chart of accounts specifically for foreign currency transactions
• B. Disable the Awareness between ledger settlement and year-end close feature
• C. Ensure all transactions are posted within the same fiscal year before settling them
• D. Enable the Post foreign currency realized gains/losses for ledger settlements feature

A company uses Microsoft Dynamics 365 Finance and Dynamics 365 Project Operations. The company must associate fixed assets with subprojects to track the money that the company spends to maintain assets. You need to configure subprojects to track the associated fixed asset transactions. Which two types of subprojects can you use? Each correct answer presents a complete solution. NOTE: Each correct selection is worth one point.

• A. Cost
• B. Investment
• C. Fixed price
• D. Time and material
• E. Internal

You maintain account control and bank balances for a company. You have a $100,000 credit limit from a bank. You must prevent the bank account from going below the defined credit limit when a transaction is posted. You need to configure the bank account credit limit. What should you do?

• A. Add גˆ’$100,000 in the bank credit limit
• B. Add $100,000 in the bank credit limit
• C. Define a credit limit of $100,000 on the invoicing vendor account
• D. Set the Control Balance option to credit in the General ledger account associated with the bank account

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?

• A. Commitment approval
• B. Update budget balances budget register
• C. Budget planning stage allocation
• D. Approve budget account entry

You need to determine why CustomerX is unable to confirm another sales order. What are two possible reasons? Each answer is a complete solution. NOTE: Each correct selection is worth one point.

• A. The credit limit parameter is set to Balance + All
• B. The credit limit is set to 0
• C. An inventory item is out of stock
• D. The inventory safety stock is set to 0

A company uses Dynamics 365 Finance. A customer invoice is due on or before the tenth day of the following month. You need to configure the payment setup. Which payment configuration should you use?

• A. Payment method: Net - Month: 1 - Days: 10 - Payment days: 10th -
• B. Payment method: Net - Month: 1 - Days: 0 - Payment days: 10th -
• C. Payment method: Current month - Month: 0 - Days: 0 - Payment days: 10th -
• D. Payment method: Net - Month: 0 - Days: 10 - Payment days: blank

The controller at a company has multiple employees who enter standard General ledger journals. The controller wants to review these journal entries before they are posted. Currently, journals entries are posted without review. You need to configure Dynamics 365 Finance to help set up a system led review process to meet the controller’s needs. Which functionality should you configure?

• A. an Advanced ledger entry workflow that uses the organizational hierarchy for journal posting, associated with the Advanced ledger journal name
• B. signing limit policies with the controller assigned to the appropriate signing limit band
• C. a manual journal approval with the journal assigned to the controller’s user group
• D. a manual journal approval with the journal assigned to the user group that the employees are assigned to

A company uses Dynamics 365 Finance to manage billing and expenses for projects. Team members complete expense reports and submit the expense reports to a project manager for approval. Each expense report must contain expense lines for one project only. Expense reports that are submitted without a project specified must be rejected. You need to configure an expense report approval workflow. Which three actions should you take? Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point.

• A. Create an expenditure reviewers' group in Expense management
• B. Create a user group for project managers and add all project managers to the group
• C. Create an expense report workflow
• D. Set up a condition to run an approval step only if the expense report has a project specified. Set the workflow assignment to Expenditure reviewers
• E. Set up an automatic action to reject expense report lines that do not have projects specified. Set the workflow assignment to Expenditure reviewers

A client is implementing accounts receivable in Dynamics 365 Finance. You need to determine which requirements can be met by configuring the customer posting profile. Which three requirements can be met? Each correct answer presents a complete solution. NOTE: Each correct selection is worth one point.

• A. Specifying a receivable account for certain customers
• B. Setting an interest code for a group of customers
• C. Specifying a revenue account for sales orders transactions
• D. Setting terms of payment for a group of customers
• E. Setting the liquidity ledger account used for cash flow forecast

A United States-based company uses Dynamics 365 Finance to collect and report sales tax. The company has a main account for each state where they collect and report sales tax. The system must transfer the tax liability for each state to their respective main account automatically every month when they run the settle and post sales tax process. You need to configure Dynamics 365 Finance. What should you do?

• A. Create a sales tax settlement period for each state
• B. Select a vendor account during the sales tax group setup
• C. Create a sales tax ledger posting group for each state. Associate a settlement account to a main account for vendor accounts in the vendor posting profile
• D. Create a sales tax authority for each state and associate the authority with the respective main account

You are configuring intercompany accounting for a multicompany enterprise. You need to set up the Due to and Due from accounts. Which main account type should you use?

• A. Profit and loss
• B. Expense
• C. Balance sheet
• D. Liability
• E. Asset

A company plans to implement Dynamics 365 Finance. The company manages a high volume of customers. The finance team wants to enable the following capabilities for each set of customers: • Create sales budgets. • Generate trade statistics such as weekly sales. • Define ledger posting. • Define terms of payment. You need to select functionality that defines clusters of customers. Which configuration should you select?

• A. Customer groups
• B. Customer payment terms
• C. Customer posting profiles
• D. Customer sales agreements

You are implementing Dynamics 365 Finance. You need to enable electronic fund transfers (EFT) for vendors. Which three steps must you complete? Each correct answer presents pail of the solution. NOTE: Each correct selection is worth one point.

• A. Enable the EFT format as a method of payment within Accounts payable
• B. Import a new Electronic reporting (ER) configuration into Lifecycle Services (LCS)
• C. Import the X++ file format
• D. Import the payment model into the Electronic reporting (ER) repository
• E. Export Electronic reporting (ER) configuration from Lifecycle Services (LCS)

You need to acquire the fixed assets that are associated with the purchase orders. What should you do?

• A. Select the fixed asset checkbox on the invoice
• B. Create the fixed assets in the fixed asset module and then acquire the asset
• C. Create the fixed assets in the fixed asset module and then select the fixed asset checkbox on the product receipt
• D. Reverse the product receipt and then repost it

You use Dynamics 365 Finance for daily bank reconciliation. You must use the BAI2 bank statement format. You need to configure the import bank statement format for the bank reconciliation process. What should you do?

• A. Import the bank statement as a template for the bank statement format
• B. Set up a batch job to import the bank statement
• C. Set up an import project for the bank statement in a Data management workspace using files provided by Microsoft
• D. Set up a journal name to import a bank statement transaction

You configure the basic budgeting functionality of Dynamics 365 Finance. You add budget values and actuals in the system. You need to compare the budget values with the actual values. Which three actions should you perform? Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point.

• A. Compare customer and vendor balances and budget register entries that are posted in the system
• B. Review budget and actual amounts that are spread across fiscal periods
• C. Generate a report on the differences between the actual fixed assets amounts and the preliminary budgeted amounts in the system
• D. Review general ledger transactions that are included in the calculated actuals amounts
• E. Drill through the details of the budget amount in budget register entries posted in the system

You are a Dynamics 365 Finance expert for an organization. You need to configure the Financial period close workspace. Which three configuration processes should you use? Each correct answer presents a part of the solution. NOTE: Each correct selection is worth one point.

• A. Create templates that contain the required tasks within the closing process and assign to closing role
• B. Create a separate closing schedule for every legal entity
• C. Assign a ledger calendar to the closing process
• D. Create task areas and descriptions
• E. Designate resources and their scope based on closing roles

You are migrating data from a legacy system to Dynamics 365 Finance. The legacy customer master data does not include a customer grouping. Customers must be assigned to a group. You need to configure the posting profile. What should you set up?

• A. an interest code for a group of customers
• B. a revenue account for sales orders transactions for a group of customers
• C. terms of payment for a group of customers
• D. a payable account for specific customers