HOTSPOT (Drag and Drop is not supported)A client is using Dynamics 365 Finance for sales order processing and accounts receivable. The client has two customer groups and two Accounts receivable trade accounts. Foreign customers in Group 80 are assigned to account 12001. Domestic customers in Group 40 are assigned to account 12000.You are viewing the client's current setup of Customer posting profiles.Use the drop-down menus to select the answer choice that answers each question based on the information presented in the graphic.Note: Each correct selection is worth one point.Hot Area:
Answer(s): A
https://docs.microsoft.com/en-us/dynamics365/finance/accounts-receivable/customer-posting-profiles
SIMULATIONYou are a functional consultant for Contoso Entertainment System USA (USMF).You plan to run several reports in USMF that list all the write-off transactions.You need to replace the write-off reason used by the system for USMF to use a reason of "Bad debts.To complete this task, sign in to the Dynamics 365 portal.
You need to add a write-off reason for USMF and set it as the default.1. Go to Navigation pane > Modules > Credit and collections > Setup > Accounts receivable parameters.2. Click the Collections tab.3. Click the Edit icon in the Write-Off section.4. Add a new Write-Off reason if it doesn't exist.5. Tick the "Default" checkbox next to the new Write-Off reason.6. Click the Save button to save the changes.
A company signs a four-year contract for an IT support project. The manager wants to know how the revenue amounts will be allocated across the four-year period.You need to implement a revenue schedule to determine the revenue amounts for each month.Which setup should you use?
Answer(s): B
Revenue schedulesA revenue schedule must be created for each occurrence that revenue can be deferred for. For example, if your organization offers support over six-month, 12-month, 18-month, and 24-month periods, you must create a revenue schedule for each period.
https://docs.microsoft.com/en-us/dynamics365/finance/accounts-receivable/revenue-recognition- setup
DRAG DROP (Drag and Drop is not supported)You have implemented Dynamics 365 Finance.You must configure revenue recognition to handle deferring revenue and revenue reallocation.You need to configure the posting profile.What should you do? To answer, drag the appropriate posting profiles to the correct scenario. Each posting profile 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: Deferred revenueDeferred revenue Enter the main account for the revenue price that posts to deferred revenue (instead of revenue). The revenue price is deferred if the sales order line has a revenue schedule.Box 2: Partial invoice revenue clearingPartial invoice revenue clearing Enter the main account for the clearing account that is used either when the sales order is partially invoiced or when reallocation occurs. The balance in this account returns to 0 (zero) when the sales orders are fully invoiced.Incorrect:Deferred cost of goods sold Enter the main account for the cost of goods sold amount that posts to deferred cost of goods sold if the revenue is also deferred.
A company plans to allocate revenue across occurrences by using recognition basis.Which recognition basis can you use?
Answer(s): D
For this question these are the correct answers:* Monthly* Monthly by daysFor this question these are the incorrect answers:* Actual start date* First of month* First of next month* Median price* Mid-month split* Monthly by dates* Revenue scheduleNote: Recognition basis The recognition basis determines how the revenue price is allocated across the occurrences.- Occurrences The amount is allocated equally across the occurrences, but it can include an extra period if you select Actual start date as the recognition convention.- Monthly The amount is allocated equally across the number of months that is defined in the.- Monthly by days The amount is allocated based on the actual days in each calendar month.- Fiscal period by days The amount is allocated based on the actual days in each fiscal
https://docs.microsoft.com/en-us/dynamics365/finance/accounts-receivable/revenue-recognition-setup
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.