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?
Answer(s): B
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 configuring Dynamics 365 Finance.You need to implement advanced bank reconciliation.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
Advanced bank reconciliationThe advanced bank reconciliation feature lets you import bank statements. The imported bank statement can then be automatically reconciled from within bank transactions. Here are the steps in the advanced bank reconciliation flow.1. Set up a bank statement import.(C) 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. (D) 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.(B) 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
Answer(s): C
Set up financial journal approvalsSome 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. Based on journal names, you can require manual approval, workflow approval, or no approval. You cannot use both the manual approval system and the workflow approval system for the same journal name.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.Incorrect:Not A:Set 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. Before you begin, make sure that workflows have been set up for the journal types that you will use workflow approval for.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 workflow field group, select the Approval workflow check box, and then select a workflow that has been set up for the journal type in the Workflow field.
https://learn.microsoft.com/en-us/dynamicsax-2012/appuser-itpro/set-up-financial-journal-approvals
HOTSPOT (Drag and Drop is not supported)A company implements the general ledger module of Dynamics 365 Finance.The company must allocate the advertising expense based on a department's sales in proportion to the total sales.You need to configure the allocation rule.How should you complete the configuration? To answer, select the appropriate options in the answer area.Note: Each correct selection is worth one point.Hot Area:
Answer(s): A
Components of ledger allocation rulesEach allocation rule has four components: general, source, destination, and offset. An additional component, ledger allocation bases rules, is required if Basis is used as the allocation method. Each component provides a critical piece of the information that is required in order to process allocations.Box 1: Sales revenue accountSourceThe company must allocate the advertising expense based on a department's sales in proportion to the total sales.Note: Source This component is where the user specifies the source data for the allocation. Allocation can be based on ledger balances (Data source = Ledger) or fixed amounts (Data source = Fixed value).When Data source is set to Ledger, source filter criteria must be defined for the ledger allocation rule (for example, for the advertising expenses).Box 2: Sales revenue accountOffsetNote: Offset This component defines how main accounts and dimensions should be determined for the offset entries that balance the destination entries. User-defined options are typically used instead of accounts and dimensions that are based on the source.When Data source is set to Fixed value, Source can't be used as an option.Box 3: Advertising expense account with the department financial dimension DestinationThe company must allocate the advertising expense based on a department's sales in proportion to the total sales.Note: Destination This component defines how the result of the allocation calculation should be distributed and accounted for. For example, there can be one destination line for each department.Box 4: BasisLedger Allocation methodThe company must allocate the advertising expense based on a department's sales in proportion to the total sales.Note: Dynamics 365 Finance, Ledger allocation rulesLedger allocation rules are used to automatically calculate and generate allocation journals and account entries for the allocation of ledger balances or fixed amounts. Allocation methods can be variable or fixed.*-> Basis This variable method is used when the allocation depends on the actual ledger balance, based on filter criteria. For example, advertising expenses can be allocated based on each department's sales in proportion to the total departmental sales.Fixed percentage and Fixed weight For these methods, the allocation percentage or weight is defined directly for the rule. For example, advertising expenses can be allocated so that Department A receives 70 percent of the advertising expense and Department B receives 30 percent.Equally This method distributes the amount equally to each defined destination. For example, if destinations are defined for Department A and Department B, advertising expenses can be allocated so that both Department A and Department B receive 50 percent of the advertising expense.
https://learn.microsoft.com/en-us/dynamics365/finance/general-ledger/ledger-allocation-rules
DRAG DROP (Drag and Drop is not supported)A company uses Dynamics 365 Finance. The company plans to use batch transfers to improve business processes.The company has the following requirements based on different scenarios it has experienced:Resolve conflicts in the general ledger that are due to frequent transfers.Implement near real-time transfers from the subledger to the general ledger.You need to configure transfer settings for batch transfers to meet the requirements.Which configurations should you recommend for each scenario? To answer, move the appropriate configurations to the correct scenarios. You may use each configuration once, more than once, or not at all. You may need to move the split bar between panes or scroll to view content.Note: Each correct selection is worth one point.Select and Place:
Box 1: Scheduled batchResolve conflicts in the general ledger that are due to frequent transfers.The following options are available for transferring subledger batches:Scheduled batch The subledger accounting entries that must be transferred are added to the processing queue in General ledger. The entries in the queue will be processed in the order that they are received in. Each General ledger voucher will update accounts at the scheduled time if resources are available to process the batch job on the server.Box 2: AsynchronousImplement near real-time transfers from the subledger to the general ledger.Asynchronous Transfer of the subledger accounting entries to the general ledger is scheduled immediately. The General ledger voucher will be recorded as soon as resources are available to process the request on the server.
https://learn.microsoft.com/en-us/dynamics365/finance/general-ledger/subledger-transfer
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