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To pass the Microsoft MB-310 Certification Exam, candidates must have a strong understanding of financial management principles and experience with Microsoft Dynamics 365 Finance. MB-310 exam is designed to test the candidate's ability to implement financial management solutions, manage financial operations, and provide financial insights to stakeholders. Microsoft Dynamics 365 Finance Functional Consultant certification is highly valued in the industry, and successful candidates are recognized as Microsoft Dynamics 365 Finance functional consultants. Obtaining this certification demonstrates a high level of expertise in financial management and can lead to career advancement opportunities in the field of finance.
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Microsoft MB-310 Exam Syllabus Topics:
Topic
Details
Set up and configure financial management (40-45%)
Define and configure the chart of accounts
- define and configure the chart of accounts and main accounts
- describe use cases for main accounts categories, ledger account aliases, and balance control accounts
- configure financial dimensions and dimension sets
- configure legal entity overrides for financial dimensions and main accounts
- create and configure account structures and advanced rules
Configure ledgers and currencies
- construct fiscal calendars, years, and periods
- configure the ledger
- describe and configure batch transfer rules
- set up currencies and conversions for a legal entity
- manually enter currency exchange rates
Implement and manage journals
- describe options for implementing voucher numbers in journals
- configure journal names
- set up journal controls and posting restriction rules
- describe and configure journal approvals
- create voucher templates
- describe use cases for periodic journals
- configure and apply accrual schemes
- set up intercompany accounting
- create templates to edit journals in Microsoft Excel
- perform reverse entries
Implement and manage cash and bank
- create and maintain bank groups and bank accounts
- describe and configure electronic payment formats
- configure and process bank reconciliations including advanced bank reconciliations
- configure cash flow reports
Implement cost accounting and cost management
- describe cost accounting processes and terms
- configure cost accounting processes
- create a cost accounting report by using the cost accounting report wizard
- describe and configure the costing sheet and indirect costs
- configure cost objects and cost groups
- implement inventory costing versions
- differentiate between inventory costing methodologies
- configure item groups and posting profiles
- perform inventory closing and adjustment processes
Perform periodic processes
- configure a financial period workspace and closing schedule
- define and demonstrate periodic closing processes and end-of-year processes
- perform financial consolidation and elimination processes
- configure allocation terms for a main account
- create and process ledger allocation rules
- implement foreign currency revaluation processes
- create and manage financial reports including modifying row, column, and report definitions
Configure, collect, and report taxes
- configure tax groups, tax codes, settlement periods, and jurisdiction
- configure tax ledger posting groups
- prepare periodic filings including end-of-year tax reporting
Implement accounts receivable, credit, collections, and revenue recognition (15-20%)
Implement and manage accounts receivable
- set up customers and customer posting profiles
- configure and process free text invoices
- process orders, invoices, and payments
- configure customer payment setup
- configure accounts receivable charges
- configure bank accounts for customers
- manage customer holds
Manage credit and collections
- configure credit management processes
- configure collections management processes
- manage delinquent customers
- prepare and send customer account statements
- manage customer credit limits and credit holds
- set up and process collection letters and interest notes
Configure revenue recognition
- configure journals and parameters for revenue recognition
- implement revenue schedules
- enter and process revenue recognition transactions
Microsoft Dynamics 365 Finance Functional Consultant Sample Questions (Q175-Q180):
NEW QUESTION # 175
You need to assist User3 with generating a deposit slip to meet Fourth Coffee's requirement.
Which five actions should you perform in sequence? To answer, move the appropriate actions from the list of actions to the answer area and arrange them in the correct order.
NOTE: More than one order of answer choices is correct. You will receive credit for any of the correct orders you select.
Answer:
Explanation:
1 - Enter the journal line with account and offset account and payment referance.
2 - Select the use a deposite slip check box.
3 - Enter a transaction type.
4 - Post the journal.
5 - Select Deposit slip from the functions menu and select ok.
Reference:
https://docs.microsoft.com/en-us/dynamicsax-2012/appuser-itpro/create-a-deposit-slip
NEW QUESTION # 176
A company uses Microsoft Dynamics 365 Finance. You create revenue allocation schedules for items You need to link a revenue allocation schedule to an item.
Which two pages should you use? Each correct answer presents a complete solution NOTE: Each correct selection is worth one point.
Answer: A,B
NEW QUESTION # 177
You are creating a budget for an organization.
The organization requires that allocations be performed automatically as part of budget planning.
You need to invoke allocations at a specific budget planning stage.
Which three actions should you perform in sequence? To answer, move the appropriate actions from the list of actions to the answer area and arrange them in the correct order.
Answer:
Explanation:
Explanation:
References:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/budget-planning-data-allocation
NEW QUESTION # 178
You manage a Dynamics 365 Finance implementation.
New system users are incorrectly posting payment transactions. You must use payment controls for bank payments by using checks for customer's due invoices to restrict new users from posting to customer payment journals.
You need to set up payment control for validation while using a method of payment in a journal entry. Which actions should you use? To answer, select the appropriate options in the answer area.
Answer:
Explanation:
Explanation:
NEW QUESTION # 179
You are setting up of the process for an expense report approval in Dynamics 365 for Finance and Operations. You need to assign permission for each participant in the workflow approval process to perform their tasks. Which action can each participant perform? To answer, select the appropriate option in the answer are a. NOTE: Each correct selection is worth one point.
Answer:
Explanation:
Reference:
https://docs.microsoft.com/en-us/dynamics365/unified-operations/fin-and-ops/organization-administration/workflow-actions
NEW QUESTION # 180
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