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The MB-310 exam covers a wide range of topics, including financial management, accounts payable and receivable management, budgeting, cost accounting, and financial reporting. These topics are essential for finance professionals who use Microsoft Dynamics 365 in their day-to-day work. MB-310 exam aims to test your knowledge and skills in configuring, implementing, and using Dynamics 365 Finance to manage financial operations effectively.
Important Details
The candidates for this certification exam are Functional Consultants. These specialists analyze the business prerequisites and translate the same into completely realized business procedures and solutions that utilize industry best practices. These professionals function as a core resource in the implementation and configuration of applications that fulfill the business requirements.
The Microsoft MB-310 exam does not have any official prerequisites. However, the test takers must have a basic understanding and knowledge of financial operations and accounting principles, including accounts receivables and accounts payables, costing principles, budgeting, taxes, and fixed assets.
The MB-310 exam measures a candidate's ability to perform various tasks related to finance and accounting, such as configuring and using financial management, accounts payable and receivable, budgeting, cost accounting, and financial reporting. MB-310 exam also evaluates a candidate's ability to integrate financial operations with other modules in Dynamics 365, such as supply chain management and human resources.
NEW QUESTION # 107
You are configuring automatic bank reconciliation functionality for a company that has multiple bank accounts, The company wants to import their bank statements.
You need to import electronic bank statements to reconcile the bank accounts.
Which three actions can you perform? Each correct answer presents a complete solution.
NOTE: Each correct selection is worth one point.
- A. Select Import statement for multiple bank accounts in all legal entities, and then upload a zip file
- B. Select Account reconciliation on the bank account form
- C. Select all the bank accounts for the bank statement files, and then upload all files
- D. Import bank statements from the Data management workspace
- E. Navigate to Import statement on the Bank Statements page of Cash and Bank Management
Answer: A,B,E
Explanation:
Explanation
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/cash-bank-management/reconcile-b
NEW QUESTION # 108
You need to prevent prohibited expenses from posting.
Which configurations should you use? To answer, select the appropriate options in the answer area.
NOTE: Each correct selection is worth one point.
Answer:
Explanation:
NEW QUESTION # 109
You need to configure invoice validation for vendors in Dynamics 365 for Finance and Operations. You are viewing the Accounts payable parameter for Invoice validation.
Answer:
Explanation:
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/accounts-payable/tasks/set-up-accounts-payable-invoice-matching-validation
NEW QUESTION # 110
A food manufacturer uses commodities such as beans, corn, and chili peppers as raw materials. The prices of the commodities fluctuate frequently. The manufacturer wants to use cost versions to simulate these fluctuations.
You need to set up cost versions and prices to accomplish the manufacturer's goal.
For which purpose should you use each costing type? To answer, select the appropriate options in the answer area.
NOTE: Each correct selection is worth one point.
Answer:
Explanation:
Explanation
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/supply-chain/cost-management/costing-versio
NEW QUESTION # 111
A company has delinquent customers.
You need to configure Dynamics 365 for Finance and Operations to meet the following requirements:
* Send communication to the customers detailing their past-due invoices.
* Use the system to automatically calculate a late charges,
* Create a group of customers for a collection agent to monitor.
* View a list of customers with colored indicators of a customer's payment status.
You need to associate the correct system functionality to manage delinquent customers based on these business requirements.
Answer:
Explanation:
Reference:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/accounts-receivable/tasks/review-collections-information
NEW QUESTION # 112
A company uses Microsoft Dynamics 365 Finance.
You receive a new purchase invoice. You must process the invoice as a fixed asset that complies with applicable tax regulations. Double entry is not permitted for asset acquisitions.
You need to configure the asset and books.
Which four actions should you recommend be performed in sequence? To answer move all actions from the list of actions to the answer area and arrange them m the correct order.
Answer:
Explanation:
Explanation
NEW QUESTION # 113
A rental service company hires you to configure their system to implement accrual schemes.
You need to configure the accrual schemes for this company.
Which configuration and transaction options should you use? To answer, select the appropriate options in the answer area.
NOTE: Each correct selection is worth one point.
Answer:
Explanation:
Explanation
NEW QUESTION # 114
You are configuring vendor collaboration security roles for external vendors. You manually set up a vendor contact. You need to assign the Vendor (external) role to this vendor. Which tasks can this vendor perform?
- A. Deny or allow a contact person's access to documents on the vendor collaboration interface that are specific to the vendor account
- B. View and modify contact person information, such as the person's title, email address, and telephone number.
- C. View consignment inventory.
- D. Delete any contact person that they have created.
Answer: C
NEW QUESTION # 115
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 client has multiple legal entities set up in Dynamics 365 Finance. All companies and data reside in Dynamics 365 Finance.
The client currently uses a separate reporting tool to perform their financial consolidation and eliminations.
They want to use Dynamics 365 Finance instead.
You need to configure the system and correctly perform eliminations.
Solution: Select Consolidate online in Dynamics 365 Finance. Include eliminations during the process or as a proposal. Set up the transactions to post in the legal entity configured for consolidations.
Does the solution meet the goal?
- A. Yes
- B. No
Answer: B
Explanation:
Explanation
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/consolidation-elimination
NEW QUESTION # 116
A company needs to create budget plan templates for its budgeting process.
You need to create the budget plan templates.
In which order should you perform the actions? To answer, move all actions from the list of actions to the answer area and arrange them in the correct order.
Answer:
Explanation:
1 - Define budgeting financial dimension sets
2 - Create budget plan columns
3 - Create budget plan document layouts
4 - Generate budget plan templates
NEW QUESTION # 117
A client plans to use Dynamics 365 for Finance and Operations for year-end 1099 reporting in the United States. You are viewing a vendor master data record on the 1099 FastTab.
Answer:
Explanation:
Explanation
NEW QUESTION # 118
An organization sells monthly service subscriptions. The organization sends invoices to customers on the 15th of every month in the amount of $450.00.
You need to set up, configure, and process recurring free text invoices for the customers.
In which order should you perform the actions? To answer, move all actions from the list of actions to the answer area and arrange them in the correct order.
Answer:
Explanation:
1 - Crate a free text invoice tempate with header, line accounting distribution, and financial dimension information.
2 - Assign the template to the customers that you want to invoice.
3 - Process the recurring invoice by specifying the invoice data and the template to generate the invoices.
4 - Posting recurring fre text invoices through the periodic posting button.
5 - Print recurring free text invoices.
Explanation:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/accounts-receivable/set-up-process-recurring-invoices
NEW QUESTION # 119
You need to configure settings to resolve User1's issue.
Which settings should you use? To answer, select the appropriate options in the answer area.
NOTE: Each correct selection is worth one point.
Answer:
Explanation:
Topic 1, Fourth Coffee
To start the case study
To display the first question in this case study, click the Next button. Use the buttons in the left pane to explore the content of the case study before you answer the questions. Clicking these buttons displays information such as business requirements, existing environment, and problem statements. If the case study has an All Information tab, note that the information displayed is identical to the information displayed on the subsequent tabs. When you are ready to answer a question, click the Question button to return to the question.
Background
Fourth Coffee is a coffee and supplies manufacturer based in Seattle. The company recently purchased CompanyA, based in the United States, and CompanyB, based in Canada, in order to increase production of their award-winning espresso machine and distribution of their dark roast coffee beans, respectively.
Fourth Coffee has set up CompanyA and CompanyB in their Dynamics 365 Finance environment to gain better visibility into the companies' profitability. CompanyA and CompanyB will continue to operate as subsidiaries of Fourth Coffee, but all operational companies will be consolidated under Fourth Coffee Holding Company in US dollars (USD) for reporting purposes.
The current organizational chart is shown below:
Current environment
Systemwide setup
Dynamics 365 Finance in Microsoft Azure is used to manage the supply chain, retail, and financials.
All companies share a Chart of Accounts.
Two dimensions are used: Department and Division.
Budgeting is controlled at the department level.
Customers and vendors are defined as two groups: Domestic and International.
Mandatory credit check is set to No.
Consolidate online is used for the consolidation of all companies.
International main accounts are subject to foreign currency revaluation.
The purchasing budget is used to enforce purchasing limits.
General ledger accounts
Fourth Coffee
The base currency is USD.
Three item groups are used: coffee, supplies, and nonstock.
The standard sales tax method is used.
Acquiring fixed assets requires a purchase order.
All customer payment journals require a deposit slip.
CustomerX is a taxable company.
CustomerY is a tax-exempt company.
CustomerZ is a taxable company.
CompanyA
The base currency is USD.
It consists of a marketing department and a digital division.
A 4-5-4 calendar structure is used.
The standard sales tax method is used.
CompanyB
The base currency is CAD.
The conditional sales tax method is used.
Requirements
Reporting
A consolidated Fourth Coffee financial report is required in USD currency.
Fourth Coffee and its subsidiaries need to be able to report sales by item type.
Year-end adjustments need to be reported separately in a different period to view financial reporting inclusive and exclusive of year-end adjustments.
Issues
User1 observes that a General journal was used in error to post to the Domestic Accounts Receivable trade account.
User2 has to repeatedly reclassify vendor invoice journals in Fourth Coffee Company that are posted to the marketing department and digital division.
When User3 posts an Accounts receivable payment journal, a deposit slip is not generated.
User4 observes an increase in procurement department expenses for supplies.
User5 observes that sales tax is not calculating on a sales order for CustomerZ.
User6 observes that sales tax is calculating for CustomerY.
User7 observes that the sales tax payment report is excluding posted invoice transactions.
User8 in CompanyA attempts to set up the sales tax receivable account on the sales tax posting form.
User9 in CompanyA needs to purchase three tablets by using a purchase order and record the devices as fixed assets.
CustomerX requires a credit check when making a purchase and is currently at their credit limit.
NEW QUESTION # 120
You are implementing Dynamics 365 Finance.
You must track freight charges, freight amounts must be included in the vendor invoice amount and the expense recorded in a ledger account defined for Freight.
You need to configure the Accounts payable charges.
How should you set up the charges? To answer, drag the appropriate posting type to the correct account type.
Each posting type 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.
Answer:
Explanation:
Explanation:
NEW QUESTION # 121
You are asked to configure foreign currency revaluation in Dynamics 365 for Finance and Operations. You are viewing the main accounts,
Answer:
Explanation:
Explanation
NEW QUESTION # 122
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