HOTSPOT (Drag and Drop is not supported)A company wants to track balance sheet accounts 10000..39999 by using different dimensions than their profit and loss accounts 40000..99999. The company wants to track the Customer financial dimension for profit and loss accounts.The company sets up the following structure: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(s): A
Box 1: Specify a business unit, department, cost center, and customer.ExampleTo illustrate a best practice for setting up an account structure, let's assume that a company wants to track their balance sheet accounts (100000..399999) at the account and business unit financial dimension level. For revenue and expense accounts (400000..999999), they track financial dimensions Business Unit, Department, and Cost center. If they make a sale, they also like to track Customer. Using this scenario, it would be recommended to have two account structures assigned to the company's ledger - one for Balance sheet accounts, and one for Profit and Loss accounts. To optimize the user experience and validation, Customer should be an advanced rule that is only used when a sales account is used.Box 2: 2
https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/configure-account-structures
HOTSPOT (Drag and Drop is not supported)You are implementing a Dynamics 365 Finance general ledger module for a client that has multiple legal entities.The client has the following requirements:Post journal entries for all companies from one legal entity.Configure automatic creation of due to/due from transactions based on when LegalEntityA transacts withLegalEntityB.Automatically split the dollar amount in half between DimensionA and DimensionB when the journal is posted.Set up fixed or variable allocations, and then review the allocations in a journal before posting.Automatically post yearend results to account 30016 during yearend close.You need to configure the system.Which system capability should you configure? To answer, select the appropriate configuration in the answer area.Note: Each correct selection is worth one point.Hot Area:
Box 1: intercompany journalBox 2: allocation termsAllocation terms are used to distribute amounts across multiple ledger account combinations. They help ensure that expenses or revenues are charged to the correct object in accounting.Box 3: ledger allocation rulesBox 4: accounts for automatic transactions
https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/main-account-allocation- terms
HOTSPOT (Drag and Drop is not supported)A customer implements Dynamics 365 Finance.The customer needs to use the cost accounting module for the following:Track the square footage occupied at each of the customer's store locations.Track and categorize costs as primary or secondary.Classify costs as direct or indirectYou need to configure the system.Note: Each correct selection is worth one point.Hot Area:
Box 1: Allocation baseThe allocation base is used to measure and quantify activities, such as machine hours that are used, kilowatt hours that are consumed, or square footage that is occupied. It's used as basis for allocating costs to one or more cost objects.Box 2: Cost distributionIs used to distribute cost from one cost object to one or more other cost objects by applying a relevant allocation base. Cost distribution and cost allocation differ in that cost distribution always occurs at the level of the primary cost element of the original cost and no reciprocal processing.Box 3: Cost classification by traceabilityCost classificationCost classification groups costs according to their shared characteristics. For example, costs can be grouped by elements, traceability, and behavior.By elements Materials, labor, and expenses.By traceability Direct costs and indirect costs. Direct costs are assigned directly to cost objects. Indirect costs aren't directly traceable to cost objects. Indirect costs are allocated to cost objects.By behavior Fixed, variable, and semi-variable.Incorrect:* Cost control unitThe cost control unit represents the cost structure. The structure determines how cost flows in a hierarchical order between cost object dimensions and their respective cost objects.
https://docs.microsoft.com/en-us/dynamics365/finance/cost-accounting/terms-cost-accounting
An exchange rate provider has been configured for Dynamics 365 Finance.Foreign currency transactions using the Euro and the US dollar use a fixed exchange rate for European Central Bank holidays and all days between April 1 and June 30. Foreign currency transactions from March 1 to June 30 fail to post.You need to reconfigure the system to post transactions for this period.Which two configuration changes should you make to the ledgers? Each correct answer presents part of the solution.Note: Each correct selection is worth one point.
Answer(s): C,D
Multiple records in different transaction currencies can be aggregated, compared, or analyzed with regard to a single currency, by using an exchange rate. This is known as the base currency. You first define a base currency for the organization and then define exchange rates to associate the base currency with transaction currencies. The base currency is the currency in which other currencies are quoted. The exchange rate is the value of a transaction currency equal to one base currency.Incorrect:Not E: Prevent import on national holiday- This check box manages the import of the exchange rate for public holiday's date. For example, if you select this check box and use the European Central Bank as the exchange rate provider, the system will not update the exchange rate on a public holiday that is related to the current legal entity. This option might not be available for some providers.
https://docs.microsoft.com/en-us/dynamics365/customerengagement/on-premises/developer/ transaction-currency-currency-entity
A company manufactures air filtering units for 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 will 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 15th of the month for the next three months.You need to configure the system for the payment schedule.What should you do?
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