A company has implemented Dynamics 365 Finance.The company requires better visibility into their cash flow and wants to reconcile bank accounts daily with a timely view of check deposits.You need to configure the bank accounts for more accurate timing of cash flow.What should you configure?
Answer(s): D
The Advanced bank reconciliation feature lets you import electronic bank statements and automatically reconcile them with bank transactions in Dynamics 365 Finance.Note: Here are the steps in the advanced bank reconciliation flow.1. Set up a bank statement import.Import bank statements through the data entity framework.Three typical bank statement formats are built in: ISO20022, BAI2, and MT940.The functionality can be extended to any format.2. Set up a number sequence to use for advanced bank reconciliation, and define the bank reconciliation matching rules.A reconciliation matching rule is a set of criteria that are used to filter bank statement lines and Microsoft Dynamics 365 Finance bank transaction lines during the reconciliation process. Depending on your business practice, you can set up more than one matching rule to automate and optimize your reconciliation process.3. Reconcile bank statements with Finance bank transactions.Perform automatic matching and creation of reconciliation journals.View bank statements and Finance bank transactions side by side.Automatically post Finance bank transactions if they appear on a bank statement but don't appear in the Finance app.Generate a reconciliation statement.
https://learn.microsoft.com/en-us/dynamics365/finance/cash-bank-management/advanced-bank-reconciliation- overview
A company uses Microsoft Dynamics 365 Finance. You are evaluating delinquent customers. You examine aging balances and determine that a customer's balance must be written off.You need to use journal lines to perform the write-off process.Which two journal line types will be created? Each correct answer presents part of the solution.Note: Each correct selectin is worth one point.
Answer(s): A,C
A company has implemented Dynamics 365 Finance.The company pays taxes quarterly to the states of Florida, Nebraska, and Washington. These states have been set up as tax authorities within Dynamics 365 Finance.You need to configure the system to remit tax payments.What should you do?
Answer(s): A
Sales tax authorities are entities to which collected sales tax needs to be reported and paid. You can pay sales taxes to the authority directly or through a vendor account that you create for the sales tax authority. If you do this, the company can use its usual payment routines to pay the sales tax authority on time. If you do not set up the tax authority as a vendor, someone must prepare a manual payment to the tax authority on the appropriate due date.This task uses the USMF demo company.1. Go to Tax > Indirect taxes > Sales tax > Sales tax authorities.2. Click New.3. In the Authority field, type a value.4. In the Name field, type a value.5. In the Vendor account field, click the drop-down button to open the lookup.6. In the list, find and select the desired record.7. In the list, click the link in the selected row.8. Select the report layout for your country/region, if one is available. If the report layouts do not correspond to the requirements of the sales tax authority, use default layout.9. Enter values in the Rounding form and the Round-off fields to specify how the tax total amount to be paid should be rounded. Any rounding differences will be posted to Accounts for automatic transactions set up in General ledger.10. In the Round-off field, enter a number.11. Click Save.
https://learn.microsoft.com/en-us/dynamics365/finance/general-ledger/tasks/set-up-sales-tax-authorities
You are configuring taxes in Dynamics 365 Finance for a client.Vendor invoices require a five percent sales tax calculation. Per government rules, the client can recover only 60 percent of this five percent sales tax amount against certain commodities. The remaining 40 percent is non-recoverable.You need to configure the sales taxes to post to the expense account.Where should you configure the sales tax percentage?
Answer(s): C
You have implemented Dynamics 365 Finance.You must update the fiscal year to a 4-4-5 quarterly configuration.You need to configure the fiscal year.What should you do?
1 - Create a new fiscal calendar;Calendar 445Fiscal year name 2022Length of period 1Unit years2 - Create a new fiscal year3 - Set up the first period as opening and the third as closing 4 - Divide de Period 1 - repeat it until you have all 12 periods Update the Month and Quarter column during the dividing.
https://community.dynamics.com/365/financeandoperations/f/dynamics-365-for-finance-and-operations- forum/448016/setup-4-4-5-fiscal-calendar
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