A company uses Dynamics 365 Finance.A customer invoice is due on or before the tenth day of the following month.You need to configure the payment setup.Which payment configuration should you use?
Answer(s): A
When creating a new 'Terms of payment', the standard Payment method will be 'Net'.Month: 1 - next month.Days: 10 - on the tenth at latestIn the Day of month field, enter a date. The date should be entered as a number, such as '10'.Note:Payment method defines the start of how the due will be calculated. For example, Net is used if the due date is always a set number of months or days after the invoice date. COD can be used to when payment is required upon invoice, so a due date wouldn't be calculated.Payment day can be set to a specific day of the week or date are included in the calculation. Depending on your terms of payment, you may enter a quantity in Months or Days. Or you can use the Payment schedule or Payment day to add to the end of the Payment method. If you're using a Payment calendar, you can define how the due date is determined when the calculated date lands on a non-workday. The initial due date is calculated using calendar days. If the calculated date lands on a non-workday, you can adjust the calculated due date to either the next working date or earlier working day.
https://learn.microsoft.com/en-us/dynamics365/finance/general-ledger/tasks/establish-customer-payment- terms
A company operates in the United States and Japan. The accounting currency for the company is USD. The company imports exchange rates related to EUR into their system.The company starts to conduct transactions with suppliers in Japanese yen (JPY). To ensure accurate reporting, the company configures exchange rates for USD to JPY on the Exchange rates page.The company requires all JPY transactions are first converted to EUR and then to USD for reporting purposes.You need to configure the currency setup.What should you do?
Answer(s): D
CurrencyMulti-currency functionality is used if your company does business in more than one currency. If your organization has multiple legal entities and transacts in multiple currencies, then maintaining currencies and their corresponding exchange rate is essential.Currency triangulation refers to the process where the amounts from one national currency must be converted to another participating national currency by comparing it to another currency, such as the euro.Only one currency can represent the triangulation currency. By default, the EUR currency is selected as the triangulation currency. You can change the triangulation currency, by first clearing the Reference currency for triangulation check box on the EUR record on the Currencies page. Then, you can select the Reference currency for triangulation for the desired currency.
https://learn.microsoft.com/en-us/training/modules/configure-currencies-dyn365-finance/2-currency-conv
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 company operates in multiple currencies. The company is setting up currency revaluation posting profiles for General ledger, Accounts payable, Bank and Accounts receivable.The company requires currency revaluation posting profiles to post unrealized and realized gains or losses to the correct accounts for applicable currencies.You need to configure the currency revaluation posting profiles.Solution:Configure posting profiles for unrealized gains and loses for all main accounts.Configure realized gain accounts for each currencyConfigure unrealized gains and losses for each vendor account.Set up a realized gains and losses posting profile for each customer group an bank account.Does the solution meet the goal?
Answer(s): B
Correct:* Solution:Configure currency revaluation posting profiles for General ledger for each applicable main account for each currency.Select unrealized gain and loss accounts for all currencies.Configure realized gains and losses posting for all vendors.Configure realized gains and losses posting for each customer group.Start with the General ledger.Incorrect:* Solution:Configure posting profiles for unrealized gains and loses for all main accounts.Configure realized gain accounts for each currencyConfigure unrealized gains and losses for each vendor account.Set up a realized gains and losses posting profile for each customer group an bank account.* Solution:Configure realized gains posting profiles for a specific main account and unrealized gains for all main accounts.Configure realized and unrealized gains or losses for all vendors.Configure unrealized and realized gains or losses posting profiles for all customers.Configure realized and unrealized gains or losses posting profiles for each bank account.
https://learn.microsoft.com/en-us/dynamics365/finance/general-ledger/currency-revalue-posting-profile
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 company operates in multiple currencies. The company is setting up currency revaluation posting profiles for General ledger, Accounts payable, Bank and Accounts receivable.The company requires currency revaluation posting profiles to post unrealized and realized gains or losses to the correct accounts for applicable currencies.You need to configure the currency revaluation posting profiles.Solution:Configure realized gains posting profiles for a specific main account and unrealized gains for all main accounts.Configure realized and unrealized gains or losses for all vendors.Configure unrealized and realized gains or losses posting profiles for all customers.Configure realized and unrealized gains or losses posting profiles for each bank account.Does the solution meet the goal?
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 company operates in multiple currencies. The company is setting up currency revaluation posting profiles for General ledger, Accounts payable, Bank and Accounts receivable.The company requires currency revaluation posting profiles to post unrealized and realized gains or losses to the correct accounts for applicable currencies.You need to configure the currency revaluation posting profiles.Solution:Configure currency revaluation posting profiles for General ledger for each applicable main account for each currency.Select unrealized gain and loss accounts for all currencies.Configure realized gains and losses posting for all vendors.Configure realized gains and losses posting for each customer group.Does the solution meet the goal?
Post your Comments and Discuss Microsoft MB-310 exam prep with other Community members:
Our website is free, but we have to fight against AI bots and content theft. We're sorry for the inconvenience caused by these security measures. You can access the rest of the MB-310 content, but please register or login to continue.