A customer uses bank reconciliation functionality in Dynamics 365 Finance.The customer finds a transaction in a closed fiscal period that must be corrected.You need to correct the transaction.How should you make this correction?
Answer(s): D
If the fiscal period of the transaction to be corrected is closed, the Correction amount field cannot be used.Instead, create a line that has a transaction date that is in an open fiscal period for the correction. In this case, you must add the financial dimensions that were used on the original transaction, and also the offset main account and the description.
https://learn.microsoft.com/en-us/dynamicsax-2012/appuser-itpro/reconcile-a-bank-account
You are implementing Dynamics 365 Finance.You commonly complete the sale of goods across international borders.You need to configure the system.What should you use?
Answer(s): C
Letters of credit are bank documents that are commonly used for the purchase and sale of goods across international borders.Letters of credit are used for international transactions to ensure that payments will be made. A letter of credit is an agreement that is issued by a bank, in which the bank agrees to ensure payment on behalf of the buyer, if the terms of the agreement between the buyer and seller are met. Note that a letter of credit is also referred to as a documentary credit (DC).
https://learn.microsoft.com/en-us/dynamics365/finance/cash-bank-management/letters-of-credit
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
You are implementing Dynamics 365 Finance.Sales tax should be calculated when the sales orders are entered. During testing, you find the sales tax is not calculating as expected.You need to validate sales tax has been set up correctly.Which two actions should you do? Each correct answer presents part of the solution.Note: Each correct selection is worth one pint.
Answer(s): A,D
A company has implemented Dynamics 365 Finance.The company has three different banks where they hold funds. Each bank holds three separate accounts, totaling nine accounts for the company. The system must use default the bank information when a new account is created. All bank balances for a single bank account must be updated simultaneously.You need to configure the system.Which two entities should you use? Each correct answer presents part of the solution.Note: Each correct selection is worth one point.
To create bank account, you must create main account and bank group (mandatory data).Cash and bank management setup and maintenance formsThe following table lists the forms that support setting up and maintaining Cash and bank management.* Setting up cash and bank management informationForm: Bank groupsUsage: Set up general information about the bank groups in which you have bank accounts.* Setting up bank account informationForm: Bank accountsUsage: Set up information for bank accounts.* Etc.
https://learn.microsoft.com/en-us/dynamicsax-2012/appuser-itpro/setting-up-and-maintaining-cash-and-bank- management https://community.dynamics.com/365/financeandoperations/b/howtodynamics365/posts/how-to-create-bank- account-in-dynamics-365
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