Microsoft (MB-310) Exam Dynamics 365 Finance Functional Consultant

Certification Exams

Number Of Questions

345 Questions Answers with Explanation

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Description

Exam Name: Microsoft Dynamics 365 Finance Functional Consultant
Exam Code: MB-310

Related Certification(s):

  • Microsoft Dynamics 365 Certifications
  • Microsoft Dynamics 365 Finance Functional Consultant Associate Certifications
Certification Provider: Microsoft
Actual Exam Duration: 100 Minutes
Number of MB-310 practice questions in our database: 345 Questions Answers with Explanation

Microsoft MB-310 Exam Syllabus & Study Guide

At Certs4Success, we provide the most accurate and up-to-date preparation materials for the Microsoft MB-310 Exam. Our content is professionally designed to help you master all the essential topics required to pass the exam with confidence and advance your career in Microsoft Dynamics 365 Finance.


All Exam Topics of Microsoft MB-310 Exam

Topic 1: Financial Management Overview

  • Core Finance Concepts: Understanding general ledger, accounts payable, and accounts receivable.
  • Financial Structure: Configuring charts of accounts and financial dimensions.
  • Legal Entities: Managing multiple entities and financial reporting structures.

Topic 2: Configure and Maintain Accounts Payable

  • Vendor Management: Creating and maintaining vendor records.
  • Invoice Processing: Managing vendor invoices and payments.
  • Payment Methods: Configuring payment terms, methods, and schedules.

Topic 3: Configure and Maintain Accounts Receivable

  • Customer Management: Setting up and managing customer accounts.
  • Billing & Invoicing: Creating invoices and managing collections.
  • Credit Management: Configuring credit limits and monitoring risks.

Topic 4: Manage Budgets and Fixed Assets

  • Budget Planning: Creating and controlling financial budgets.
  • Budget Control: Tracking and enforcing budget constraints.
  • Fixed Assets Management: Acquiring, depreciating, and disposing of assets.

Topic 5: General Ledger Configuration

  • Ledger Setup: Configuring ledger parameters and fiscal calendars.
  • Journal Entries: Creating and posting financial journals.
  • Financial Period Close: Managing year-end and period closing processes.

Topic 6: Cash and Bank Management

  • Bank Setup: Configuring bank accounts and reconciliation processes.
  • Cash Flow Forecasting: Monitoring and predicting cash positions.
  • Reconciliation: Performing bank reconciliations and adjustments.

Topic 7: Expense Management

  • Expense Policies: Defining rules for employee expenses.
  • Expense Reporting: Managing expense submissions and approvals.
  • Reimbursements: Processing employee reimbursements efficiently.

Topic 8: Financial Reporting and Analysis

  • Reports Configuration: Generating financial statements and reports.
  • Data Analysis: Using tools to analyze financial performance.
  • Insights: Supporting decision-making with accurate financial data.

Topic 9: Configure Financial Integrations

  • System Integration: Connecting Dynamics 365 Finance with other applications.
  • Data Import/Export: Managing financial data exchange.
  • Automation: Streamlining processes using workflows and integrations.

Topic 10: Implement Security and Compliance

  • Role-Based Security: Configuring user roles and permissions.
  • Audit Trails: Monitoring financial transactions for compliance.
  • Regulatory Compliance: Ensuring adherence to financial standards and policies.

Why Trust Certs4Success for Microsoft MB-310 Exam?

  • Updated Content: Our materials are regularly updated to match the latest Microsoft MB-310 Exam objectives.

    Expert Guidance: Each topic is explained with practical insights and real-world examples for the Microsoft MB-310 Exam.

    High Success Rate: Designed by certified professionals to help you pass the Microsoft MB-310 Exam on your first attempt.

Description

Exam Name: Microsoft Dynamics 365 Finance Functional Consultant
Exam Code: MB-310

Related Certification(s):

  • Microsoft Dynamics 365 Certifications
  • Microsoft Dynamics 365 Finance Functional Consultant Associate Certifications
Certification Provider: Microsoft
Actual Exam Duration: 100 Minutes
Number of MB-310 practice questions in our database: 345 Questions Answers with Explanation

Microsoft MB-310 Exam Syllabus & Study Guide

At Certs4Success, we provide the most accurate and up-to-date preparation materials for the Microsoft MB-310 Exam. Our content is professionally designed to help you master all the essential topics required to pass the exam with confidence and advance your career in Microsoft Dynamics 365 Finance.


All Exam Topics of Microsoft MB-310 Exam

Topic 1: Financial Management Overview

  • Core Finance Concepts: Understanding general ledger, accounts payable, and accounts receivable.
  • Financial Structure: Configuring charts of accounts and financial dimensions.
  • Legal Entities: Managing multiple entities and financial reporting structures.

Topic 2: Configure and Maintain Accounts Payable

  • Vendor Management: Creating and maintaining vendor records.
  • Invoice Processing: Managing vendor invoices and payments.
  • Payment Methods: Configuring payment terms, methods, and schedules.

Topic 3: Configure and Maintain Accounts Receivable

  • Customer Management: Setting up and managing customer accounts.
  • Billing & Invoicing: Creating invoices and managing collections.
  • Credit Management: Configuring credit limits and monitoring risks.

Topic 4: Manage Budgets and Fixed Assets

  • Budget Planning: Creating and controlling financial budgets.
  • Budget Control: Tracking and enforcing budget constraints.
  • Fixed Assets Management: Acquiring, depreciating, and disposing of assets.

Topic 5: General Ledger Configuration

  • Ledger Setup: Configuring ledger parameters and fiscal calendars.
  • Journal Entries: Creating and posting financial journals.
  • Financial Period Close: Managing year-end and period closing processes.

Topic 6: Cash and Bank Management

  • Bank Setup: Configuring bank accounts and reconciliation processes.
  • Cash Flow Forecasting: Monitoring and predicting cash positions.
  • Reconciliation: Performing bank reconciliations and adjustments.

Topic 7: Expense Management

  • Expense Policies: Defining rules for employee expenses.
  • Expense Reporting: Managing expense submissions and approvals.
  • Reimbursements: Processing employee reimbursements efficiently.

Topic 8: Financial Reporting and Analysis

  • Reports Configuration: Generating financial statements and reports.
  • Data Analysis: Using tools to analyze financial performance.
  • Insights: Supporting decision-making with accurate financial data.

Topic 9: Configure Financial Integrations

  • System Integration: Connecting Dynamics 365 Finance with other applications.
  • Data Import/Export: Managing financial data exchange.
  • Automation: Streamlining processes using workflows and integrations.

Topic 10: Implement Security and Compliance

  • Role-Based Security: Configuring user roles and permissions.
  • Audit Trails: Monitoring financial transactions for compliance.
  • Regulatory Compliance: Ensuring adherence to financial standards and policies.

Why Trust Certs4Success for Microsoft MB-310 Exam?

  • Updated Content: Our materials are regularly updated to match the latest Microsoft MB-310 Exam objectives.

    Expert Guidance: Each topic is explained with practical insights and real-world examples for the Microsoft MB-310 Exam.

    High Success Rate: Designed by certified professionals to help you pass the Microsoft MB-310 Exam on your first attempt.

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Q1. You have implemented Dynamics 365 finance. You must update the fiscal year to a 4-4-5 quarterly configuration. You need to configure the fiscal year. What should you do?

A.Configure the period length to 12 months and adjust the ending date of each period.

B. Set up the length of the period to 13 months.

C. Set up the length of the period to 1 year and divide the period according to the quarterly configuration.

D. Configure the period length to 1 year and adjust the ending date of each period.

Correct Answer: C

Q2. 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. You manage a Dynamics 365 Finance implementation. You must provide the budget versus actual reporting in near real time. You need to configure the ledger budgets and forecasts workspace to track expenses over budget and revenue under budget. Solution: Configure an expense dimension set. Configure the set show amounts field value to per budget cycle. Does the solution meet the goal?

A.Yes

B. No

Correct Answer: B

Q3. A company has implemented Dynamics 365 Finance. The company pays taxes quarterly to the states of Florida, Nebraska, and Washington. These states have been set up as tax authorities within Dynamics 365 Finance. You need to configure the system to remit tax payments. What should you do?

A.Set up a customer record for the tax authority.

B. Associate the vendor record to the tax authority.

C. Associate the vendor record to The settlement period.

D. Set up the jurisdiction and associate the jurisdiction to the tax authority

Correct Answer: B

Q4. You create a parent budget for the next fiscal year of a parent company. The parent company is configured as its own legal entity. Franchises are configured as separate legal entities. The parent company sets the budget for each franchise based on the past year's performance. Ledger allocation rules, periods allocation keys, and budget allocation terms have not been created. Budget line items must be allocated to the budget for each franchise. You need to ensure the franchise budgets are allocated. What should you do?

A.Create budget allocation terms. Set the allocation method to allocate to dimensions.

B. Create ledger allocation rules. Set the allocation method to use ledger allocation rules

C. Set the allocation method to distribute.

D. Set the allocation method to aggregate.

E. Create period allocation keys. Set the allocation method to allocate across periods.

Correct Answer: A

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