DRAG DROP (Drag and Drop is not supported)You are implementing Dynamics 365 Finance and have deployed one instance with the following legal entities:You need to configure the ledger.Which ledger currencies should be configured? To answer, drag the appropriate currency type to the ledger currency. Each currency 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.Select and Place:
Answer(s): A
Box 1: CADReporting currency is the currency used for operational reporting to the government bodies.Accounting currency is what your legal entity uses for amounts calculation. It is unique per the legal entity. Reporting currency is the currency used for operational reporting to the government bodiesBox 2: GBPAccounting currency is what your legal entity uses for amounts calculation. It is unique per the legal entity.
DRAG DROP (Drag and Drop is not supported)You are implementing Dynamics 365 Finance.You must associate items with an item model group. An inventory close must not be required.You need to configure the item model group.Which costing method should you use? To answer, drag the appropriate costing method to the correct system behavior. Each costing method 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:
Box 1: Standard costStandard costs are estimates of the cost of goods sold -- that is, the cost required to produce your products. They usually consist of three parts: direct materials, direct labor, and manufacturing overhead.Box 2: Moving averageMoving average is a perpetual costing method based on the average principle, where the costs on inventory issues do not change when the purchase cost does.Incorrect:* Weighted average is an inventory model based on an average that results from the multiplication of each component (item transaction) by a factor (cost price) reflecting its importance (quantity). Another way to say this is that weighted average is an inventory model that assigns the cost of issue transactions based on the mean value of all inventory received during the period, plus any on-hand inventory from the previous period.* First in, First out (FIFO) is an inventory model in which the first acquired receipts are issued first. Financially updated issues from inventory are settled against the first financially updated receipts into inventory, based on the financial date of the inventory transaction.
https://www.fool.com/the-ascent/small-business/accounting/articles/standard-cost/ https://docs.microsoft.com/en-us/dynamics365/supply-chain/cost-management/moving-average
You are implementing Dynamics 365 Finance.You must configure a more accurate cash flow forecast related to sales tax. The sales tax calculation should be based on the expected transaction amounts and dates.You need to configure the cash flow forecast.Which setup should you use?
Answer(s): B
Cash flow forecasting can be integrated with General ledger, Accounts payable, Accounts receivable, Budgeting and inventory management. The forecasting process uses transaction information that is entered in the system, and the calculation process forecasts the expected cash impact of each transaction.Note: In the Purchasing forecast defaults section, you can select default purchasing behaviors for cash flow forecasting. Three fields determine the time of the cash impact: Time between delivery date and invoice date, Terms of payment, and Time between invoice due date and payment date. The forecast will use the default setting for the Terms of payment field only if a value isn't specified on the transaction. Use a term of payment to describe the most typical number of days for each part of the process.Sales tax authority paymentsThe Cash flow sales tax authority payments feature predicts the cash flow impact of sales tax payments. It uses unpaid sales tax transactions, tax settlement periods, and the tax period payment term to predict the date and amount of cash flow payments.Incorrect:Not A: A bridged payment is a payment that is posted to the general ledger in two steps. Typically, this approach is used when the method of payment is set to Bank, and you must post transactions to the bank account only when the transaction has cleared the bank.Not B: If your organization has configured multiple forecasts, save your users time and select one to be displayed by default when they open the Forecasts page.With Dynamics 365 Sales forecasting, we are introducing a new set of capabilities that empower organizations to natively create and manage bottom-up sales forecast processes.Accurate forecasting helps everyone on the team:Sellers can manage their pipeline and focus time more effectively, by identifying the deals they need to close to meet quotas.Sales managers and leaders can plan sales team execution and meet sales forecasts more confidently with greater flexibility and a clearer view into bottom-up projections, all the while gaining a deeper understanding of those opportunities that impact the business.Sales enablement managers can benefit from greater flexibility to offer more granular and meaningful guidance that accurately reflects sales execution.
https://docs.microsoft.com/en-us/dynamics365/finance/cash-bank-management/cash-flow- forecasting https://docs.microsoft.com/en-us/dynamics365-release-plan/2020wave1/dynamics365-sales/forecasting
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?
Collections customer poolsCustomer pools are queries that define a group of customer records. You can use these grouped records to view information for the customer accounts that are included, and to manage collections or aging processes for them. You can use customer pools to filter information on the collections list pages. You also can use them to filter the customer accounts that are included when aging snapshots are created.
https://docs.microsoft.com/en-us/dynamics365/finance/accounts-receivable/cm-collections- concepts
You are the controller of a multi-entity organization that uses the same chart of accounts and fiscal periods across all entities. You use the financial report designer in Dynamics 365 Finance to create, maintain, deploy, and view financial statements.You need to generate consolidated financial statements by using a building block group to aggregate data across companies and financial dimensions.Which three actions should you perform? Each correct answer presents part of the solution.Note: Each correct selection is worth one point.
Answer(s): B,C,D
Single-level and multilevel consolidations across legal entities The simplest method for consolidating by using Financial reporting is to use reporting trees to aggregate data across companies that have the same chart of accounts and fiscal periods. Here are the high-level steps to consolidate by using a reporting tree.1. Create a row definition, and make sure that all appropriate accounts in all companies are included in the rows. (B)2. Create a column definition that includes all the columns that are required for the report that you're creating.(C)3. Create a reporting tree that includes a reporting node for each company that you're using on consolidated reports. (D)
https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/generating-consolidated- financial-statements
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