A company uses Dynamics 365 Finance.The company must send a refund check by using a customer payment journal. The refund check must be generated before a user can post the refund payment journal.Which option should you configure?
Answer(s): B
A company uses Dynamics 365 Finance. The company accepts customer payments in installments.You must configure the number of installments, the amount of each installment, and a due date of each installment for a payment schedule to determine the revenue allocation for each month. You must provide the total revenue amounts allocated over a period for a specific payment.You need to configure the system to allocate the total outstanding amount of an invoice.What should you configure?
Answer(s): D
You and a customer or vendor might agree to pay one invoice by using a series of installment payments based on a predefined payment schedule. The Payment schedule configuration key must be selected before you can set up a payment schedule for an order.When an invoice that has a payment schedule is posted, a separate invoice line transaction is created, based on the due date for each line of the payment schedule. The original sales transaction or purchase transaction remains unchanged, and several open payment transactions are linked to the original transaction. You can view information about each invoice line in the Settle open transactions form.1. Click Accounts receivable > Common > Sales orders > All sales orders.or1. Click Accounts payable > Common > Purchase orders > All purchase orders.2. Double-click an order or create an order.3. On the Action Pane, click Header view.4. Click the Price and discount FastTab, and then select a payment schedule for the order.5. To view or modify the date or amount of each payment, on the Action Pane, click the Invoice tab, and then click Payment schedule.6. On the Payment schedule tab, you can change the allocation method, and then click Calculate to recalculate the lines. If you select the *Fixed amount* allocation method, rounding amounts or remaining amounts are included with the last payment.NoteAlternatively, on the Payment lines tab, you can modify each installment.
https://learn.microsoft.com/en-us/dynamicsax-2012/appuser-itpro/set-up-payment-schedules-on-orders
You use Dynamics 365 Finance. Your company offers cash discounts. The discounts are offered sequentially to specific customers. Customers must pay their invoices within a specified time period. The cash discounts are as follows:5D10% - Cash discount of 10 percent when the amount is paid within 5 days.10D5% - Cash discount of 5 percent when the amount is paid within 10 days.14D2% - Cash discount of 2 percent when the amount is paid within 14 days.Cash discounts can only be given if the payments are made within 10 days.You need to configure cash discounts.What should you do?
Example: Series of cash discountsSet up three cash discount codes as follows:Code 5D10% A cash discount of 10% when the amount is paid within 5 days.Code 10D5% A cash discount of 5% when the amount is paid within 10 days.Code 14D2% A cash discount of 2% when the amount is paid within 14 days.In the Next discount code field:For the 5D10% code, select 10D5%.*-> For the 10D5% code, select 14D2%.For the 14D2% code, leave the Next discount code field blank.The three cash discounts succeed each other as the payment date exceeds the previous cash discount date on the invoice. Only one cash discount is granted when the invoice is paid, based on which cash discount date is meet in the sequence of cash discounts.
https://learn.microsoft.com/en-us/dynamics365/finance/cash-bank-management/cash-discounts
A company plans to allocate revenue across occurrences by using recognition basis.Which recognition basis can you use?
Answer(s): C
Correct:* Monthly* Monthly by datesIncorrect:* Actual start date* First of month* Mid-month split* Revenue scheduleNote: Dynamics 365 Finance, Revenue recognition setupRecognition basis The recognition basis determines how the revenue price is allocated across the occurrences.*-> Monthly by days The amount is allocated based on the actual days in each calendar month.*-> Monthly The amount is allocated equally across the number of months that is defined in 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.* Fiscal period by days The amount is allocated based on the actual days in each fiscal period.The results of Monthly by days and Fiscal period by days will be the same when the fiscal periods follow calendar months. The only exception is when the recognition convention is set to End of month/period, and the Contract start date and End date fields are left blank on a sales order line.
https://learn.microsoft.com/en-us/dynamics365/finance/accounts-receivable/revenue-recognition-setup
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