Note: This question is part of a series of questions that present the same scenario. Each question in the series contains a unique solution. Determine whether the solution meets 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 controller notices incorrect postings to the ledger entered via journal.The system must enforce the following:Expense accounts (6000-6998) require department, division, and project with all transactions. Customer dimension is optional.Revenue accounts (4000-4999) require department and division and allow project and customer dimensions.Liability accounts (2000-2999) should not have any dimensions posted.Expense account (6999) requires department, division, project and customer dimensions with all transactions.You need to configure the account structure to meet the requirements.Solution:Configure two account structures.For Expense Accounts (6000-6998), configure asterisks in department division, and project. Configure an asterisk and quotations in customer dimension.For Revenue accounts (4000-4999), configure asterisks in department and division. Configure an asterisk and quotations in project and customer dimensions.For Expense account (6999), configure asterisks in department division, project, and customer dimensions.Liability accounts (2000-2999) are in the second account structure with no following dimensions.Does the solution meet the goal?
Answer(s): A
Expense accounts (6000-6998) require department, division, and project with all transactions. Customer dimension is optional.Solution: For Expense Accounts (6000-6998), configure asterisks in department division, and project.Configure an asterisk and quotations in customer dimensionRevenue accounts (4000-4999) require department and division and allow project and customer dimensions.Solution: or Revenue accounts (4000-4999), configure asterisks in department and division. Configure an asterisk and quotations in project and customer dimensions.Liability accounts (2000-2999) should not have any dimensions posted.Solution: Liability accounts (2000-2999) are in the second account structure with no following dimensions.Expense account (6999) requires department, division, project and customer dimensions with all transactions.Solution: For Expense account (6999), configure asterisks in department division, project, and customer dimensions.Also included in the solution: Configure two account structures.
A company uses Dynamics 365 Finance. The company is based in the United States and sells a product online. The product is shipped to the United States, Canada, and Mexico. The product is sourced from Brazil.Legal entities must be set up for each country/region. One ledger account must be used to track sales tax payable.You need to configure the system to track Use Tax.Which two parameters should you configure? Each correct answer presents part of the solution.Note: Each correct selection is worth one point.
Answer(s): B,E
B: Set up ledger posting groups for sales tax. Required. Ledger posting groups define the main accounts for recording and paying sales taxes.E: Set up sales tax codes. Required. Sales tax codes contain the tax rates and calculation rules for each sales tax. Sales tax codes are related to a sales tax settlement period and a ledger posting group.
https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/indirect-taxes-overview
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?
For this question these are the correct answers:* a Ledger daily journal workflow that uses the organizational hierarchy for journal posting, associated with the General ledger journal name* a manual journal approval with the journal assigned to the controller's user groupNote: Some organizations require that journals be approved by a user other than the user who entered the journal. Two types of approvals are available for financial journals: manual and workflow.For this question these are the incorrect answers:* a manual journal approval with the journal assigned to the user group that the employees are assigned to* a saved query in the Voucher inquiries form for the controller to view all general journals posted to the ledger* an Advanced ledger entry workflow that uses the organizational hierarchy for journal posting, associated with the Advanced ledger journal name* an alert that is sent to the controller when a journal name is created* signing limit policies with the controller when a journal name is created* signing limit policies with the controller assigned to the appropriate signing limit band* the controller's security role so that he has approval privileges for General ledger journals Explanations for correct answers:* a Ledger daily journal workflow that uses the organizational hierarchy for journal posting, associated with the General ledger journal nameSome organizations require that journals be approved by a user other than the person who entered the journal.To set up an approval process, you can create a workflow.A workflow represents a business process. It defines how a document flows through the system and indicates who must complete a task or approve a document.You can use workflow approvals for the following journals and journal types in General ledger.Note: Journal workflowsBased on journal names, you can require manual approval, workflow approval, or no approval. Use this information to set up one or more workflow configurations for each journal type, and then select a configuration for each journal name and activate workflow for that journal. If workflow approval is set up for a journal, additional controls are displayed at the top of the Journal form.* a manual journal approval with the journal assigned to the controller's user group Set up manual journal approvalThe user who is responsible for journal routines sets up the approval system for each journal where approvals will be used. Manual journal approval is available for all journals in Microsoft Dynamics AX.1. Click General ledger > Setup > Journals > Journal names.2. In the left pane, select the journal to use the approval system for; for example, a journal that has a journal type of Daily.3. In the Approval field group, select the Active check box, and then select a user group in the Approve field.The users who belong to this user group will be able to manually approve these journals.Explanations for incorrect answers:* an Advanced ledger entry workflow that uses the organizational hierarchy for journal posting, associated with the Advanced ledger journal nameSet up workflow journal approvalThe user who is responsible for journal routines sets up the approval system for each journal where approvals will be used. Workflow journal approval is available only for selected financial journals.* an alert that is sent to the controller when a journal name is created Some organizations require that journals be approved by a user other than the user who entered the journal.Two types of approvals are available for financial journals: manual and workflow.* the controller's security role so that he has approval privileges for General ledger journals Some organizations require that journals be approved by a user other than the user who entered the journal.Two types of approvals are available for financial journals: manual and workflow.
https://docs.microsoft.com/en-us/dynamicsax-2012/appuser-itpro/set-up-general-ledger-workflows https://learn.microsoft.com/en-us/dynamicsax-2012/appuser-itpro/set-up-financial-journal-approvals
DRAG DROP (Drag and Drop is not supported)A customer implements Dynamics 365 Finance.You need to configure bank reconciliation settings.What should you do? To answer, drag the appropriate configuration options to the correct requirements. Each configuration option 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: Payment referenceDeposit slip and bridged transactions to address bank/card/payment provider fees in bank statement and bank reconciliation in Microsoft Dynamics 365 Finance and OperationsStepsCreate general journalLoad bridge transactionsCreate additional journal line and provide the account for fees and use offset as bank as previous line* enable deposit slip on both lines and use same payment reference after posting journal use functions to prepare deposit slip after generating deposit slip check bank statement and bank transactionsBox 2: Transaction typeCreate transactions for entries, such as fees and interest, that are on the bank statement but that are not recorded in Finance. Enter the Bank transaction type and appropriate financial dimensions.
https://community.dynamics.com/ax/b/happyd365fo/posts/deposit-slip-and-bridged-transactions-to- address-bank-card-oayment-provider-fees-in-bank-statement-and-bank-reconciliation-in-microsoft-dynamics- 365-finance-and-operations https://docs.microsoft.com/en-us/dynamics365/finance/cash-bank-management/reconcile-bank-account
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 wants general journals to be used only to post ledger-type transactions.You need to set up journal configuration to achieve the requirement.Solution: Set up a default offset account on the journal name.Does the solution meet the goal?
Answer(s): B
Instead Solution: Set up the journal control to specify the account structure and ledger segment.A journal name can be used only for adjustments. In this case, you can specify that only the Ledger account type is valid across all companies.
https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/general-journal-processing
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