Published: November 03, 2017
Languages: English
Audiences: IT professionals, Information workers
Technology: Microsoft Dynamics 365 for Finance and Operations
Credit toward certification: MCP, MCSE
Skills measured
This exam measures your ability to accomplish the technical tasks listed below. The percentages indicate the relative weight of each major topic area on the exam. The higher the percentage, the more questions you are likely to see on that content area on the exam. View video tutorials about the variety of question types on Microsoft exams.
Please note that the questions may test on, but will not be limited to, the topics described in the bulleted text.
Do you have feedback about the relevance of the skills measured on this exam? Please send Microsoft your comments. All feedback will be reviewed and incorporated as appropriate while still maintaining the validity and reliability of the certification process. Note that Microsoft will not respond directly to your feedback. We appreciate your input in ensuring the quality of the Microsoft Certification program.
If you have concerns about specific questions on this exam, please submit an exam challenge.
If you have other questions or feedback about Microsoft Certification exams or about the certification program, registration, or promotions, please contact your Regional Service Center.
Set up and configure the core financial modules. (25-30%)
Define and configure the General ledger module.
Define currency and exchange rates; define and create the chart of accounts and main accounts; set up and manage fiscal and ledger calendars; create and define financial dimensions and financial dimension sets; configure account structure; define the ledger for a legal entity; set up journals; define the General ledger parameters and accounts for automatic transactions; configure intercompany accounting
Explain and set up the Cash and bank management module.
Explain bank transaction types and transaction groups; set up bank groups, create bank accounts, explain the Cash and bank management parameters; configure check layouts
Describe and design the Accounts receivable and Collections management modules.
Describe customer posting profiles, set up customer payment information, create customers, define the Accounts receivable parameters, describe an organizational structure for centralized payments; set up and process collection letters, configure and calculate interest, process interest adjustments, set up customer pools and aging period definitions
Review and build the Accounts payable module.
Define vendor posting profiles, configure vendor payment information, explain invoice matching; create vendors, walkthrough the account payable parameters; review an organizational structure for centralized payments
Clarify and utilize the Tax module.
Define ledger posting groups, create sales tax codes, establish sales and item tax groups, define sales tax authorities, explain withholding tax; review sales tax jurisdictions
Define basic fixed asset concepts, and complete setup for the Fixed assets module.
Define depreciation methods and conventions, set up depreciation profiles and books, set up value models, define Fixed Asset parameters, create fixed assets, set up and assign bar codes to assets, lend fixed assets
Manage daily procedures for the core financial modules. (25-30%)
Review and process transactions in the General ledger module.
Create and post general journals; create voucher templates, process periodic journals, process period allocations, create and process accrual schemes, reverse a transaction, create reversing entries; use ledger accrual schemes in a journal; create and post intercompany journal entries
Analyze and walkthrough transactions in the Cash and bank management module.
Create and delete checks, void a check and create payment reversals, create and cancel deposit slips, reconcile bank accounts
Assess and handle transactions in the Accounts receivable and Collections management modules.
Create free text invoices, process prepayments, create payment journals, reverse settlements, reimburse a customer, perform sales order invoicing; review aged balances for customer, process customer account statements, create write-off transactions, process a non-sufficient funds cancellation; manage the status of customer transactions; use cases and activities to track collection actions
Define and create transactions in the Accounts payable module.
Define and create different types of invoice journals, manage vendor invoices, perform invoice matching; process prepayments, create payment proposals; process payment journals
Explain and work with transactions in the Tax module.
Revise sales tax prior to posting a transaction, post sales tax on prepayments, create transactions with conditional sales tax
Review and process fixed asset transactions.
Define transaction types available, process acquisitions through journals, process depreciations, process disposals, process value adjustments; create purchase orders for fixed assets; acquire fixed assets from a purchase order
Set up, configure, and use the Budgeting module. (20-25%)
Define basic budgeting concepts, and setup basic budgeting features.
Define budget concepts; discuss different budget types; set up the different budget configurations, define the budget parameters
Configure and use budget control features.
Set up the budget control configuration settings; define budget groups and budget control rules; enable budget control for source documents and journals; activate and turn on budget control; view budget check results on transactions
Define and generate budget plans.
Define budget planning configuration, create budget plans, process budget plans, modify budget plans in Excel
Create and process budget register entries.
Create and process budget register entries; transfer budget balances, define budget allocations, update budget register entries in Excel; create budget register entries from budget plans
Manage periodic and closing procedures for the financial modules. (20-25%)
Setup, configure, and run consolidations and eliminations.
Set up and define a consolidation and elimination company, add consolidation information to main accounts; define and use consolidation groups; configure elimination rules; define the consolidation methods available; perform a consolidation; create and process eliminations
Configure and perform foreign currency revaluations.
Define main account settings for foreign currency revaluation; define the types of foreign currency revaluations; perform foreign currency revaluations
Set up and run ledger allocations.
Describe the various types of ledger allocation; create ledger allocations rules and basis; process ledger allocation requests; configure allocations terms for a main account
Construct and use the period close workspace.
Describe uses for the period close workspace; configure the period close workspace; define a period close template; use the period close workspace
Set and run the fiscal year end closing processes.
Define parameters for fiscal year end close; configure and run the fiscal year close process; describe and use the closing sheet
The controller of your company has received notice from the taxing agency of another state that the sales tax rate on the company’s products sold in that will increase by 0.5% starting
on January 1st and continuing in perpetuity.
Question 1:
You must make all changes necessary in Microsoft Dynamics 365 for Finance and Operations to make these changes take effect on January 1st. Which object in Microsoft Dynamics 365 for Finance and Operations should be modified to make this change?
A. sales tax code
B. Ledger posting group
C. Sales tax authority
D. Settlement period
Answer: A
Question 2:
A vendor contacts you about an unpaid invoice. You verify that check was printed and mailed one month ago. Because the check has not been received by the vendor, you need to reissue a check to the vendor.
Which action should you perform?
A. Reverse the payment from the Vendor transaction report from, and then reissue the payment.
B. Void the check from the original payment journal, and then reissue the payment.
C. Create a reversing entry by using the General journal form, and then reissue the payment.
D. Process a payment reversal from the Checks from, and then reissue the payment.
Answer: D
Question 3:
Your company has acquired customers in a new state. The company must collect sales tax on the product sales to those customers.
As bookkeeper, you need to configure Microsoft Dynamics 365 for Finance and Operations to report collected sales tax to the new customers state authorities.
Which configuration controls the payment of sales tax to the new state?
A. main accounts
B. customer account
C. sales tax group
D. sales tax authority
Answer: C
Languages: English
Audiences: IT professionals, Information workers
Technology: Microsoft Dynamics 365 for Finance and Operations
Credit toward certification: MCP, MCSE
Skills measured
This exam measures your ability to accomplish the technical tasks listed below. The percentages indicate the relative weight of each major topic area on the exam. The higher the percentage, the more questions you are likely to see on that content area on the exam. View video tutorials about the variety of question types on Microsoft exams.
Please note that the questions may test on, but will not be limited to, the topics described in the bulleted text.
Do you have feedback about the relevance of the skills measured on this exam? Please send Microsoft your comments. All feedback will be reviewed and incorporated as appropriate while still maintaining the validity and reliability of the certification process. Note that Microsoft will not respond directly to your feedback. We appreciate your input in ensuring the quality of the Microsoft Certification program.
If you have concerns about specific questions on this exam, please submit an exam challenge.
If you have other questions or feedback about Microsoft Certification exams or about the certification program, registration, or promotions, please contact your Regional Service Center.
Set up and configure the core financial modules. (25-30%)
Define and configure the General ledger module.
Define currency and exchange rates; define and create the chart of accounts and main accounts; set up and manage fiscal and ledger calendars; create and define financial dimensions and financial dimension sets; configure account structure; define the ledger for a legal entity; set up journals; define the General ledger parameters and accounts for automatic transactions; configure intercompany accounting
Explain and set up the Cash and bank management module.
Explain bank transaction types and transaction groups; set up bank groups, create bank accounts, explain the Cash and bank management parameters; configure check layouts
Describe and design the Accounts receivable and Collections management modules.
Describe customer posting profiles, set up customer payment information, create customers, define the Accounts receivable parameters, describe an organizational structure for centralized payments; set up and process collection letters, configure and calculate interest, process interest adjustments, set up customer pools and aging period definitions
Review and build the Accounts payable module.
Define vendor posting profiles, configure vendor payment information, explain invoice matching; create vendors, walkthrough the account payable parameters; review an organizational structure for centralized payments
Clarify and utilize the Tax module.
Define ledger posting groups, create sales tax codes, establish sales and item tax groups, define sales tax authorities, explain withholding tax; review sales tax jurisdictions
Define basic fixed asset concepts, and complete setup for the Fixed assets module.
Define depreciation methods and conventions, set up depreciation profiles and books, set up value models, define Fixed Asset parameters, create fixed assets, set up and assign bar codes to assets, lend fixed assets
Manage daily procedures for the core financial modules. (25-30%)
Review and process transactions in the General ledger module.
Create and post general journals; create voucher templates, process periodic journals, process period allocations, create and process accrual schemes, reverse a transaction, create reversing entries; use ledger accrual schemes in a journal; create and post intercompany journal entries
Analyze and walkthrough transactions in the Cash and bank management module.
Create and delete checks, void a check and create payment reversals, create and cancel deposit slips, reconcile bank accounts
Assess and handle transactions in the Accounts receivable and Collections management modules.
Create free text invoices, process prepayments, create payment journals, reverse settlements, reimburse a customer, perform sales order invoicing; review aged balances for customer, process customer account statements, create write-off transactions, process a non-sufficient funds cancellation; manage the status of customer transactions; use cases and activities to track collection actions
Define and create transactions in the Accounts payable module.
Define and create different types of invoice journals, manage vendor invoices, perform invoice matching; process prepayments, create payment proposals; process payment journals
Explain and work with transactions in the Tax module.
Revise sales tax prior to posting a transaction, post sales tax on prepayments, create transactions with conditional sales tax
Review and process fixed asset transactions.
Define transaction types available, process acquisitions through journals, process depreciations, process disposals, process value adjustments; create purchase orders for fixed assets; acquire fixed assets from a purchase order
Set up, configure, and use the Budgeting module. (20-25%)
Define basic budgeting concepts, and setup basic budgeting features.
Define budget concepts; discuss different budget types; set up the different budget configurations, define the budget parameters
Configure and use budget control features.
Set up the budget control configuration settings; define budget groups and budget control rules; enable budget control for source documents and journals; activate and turn on budget control; view budget check results on transactions
Define and generate budget plans.
Define budget planning configuration, create budget plans, process budget plans, modify budget plans in Excel
Create and process budget register entries.
Create and process budget register entries; transfer budget balances, define budget allocations, update budget register entries in Excel; create budget register entries from budget plans
Manage periodic and closing procedures for the financial modules. (20-25%)
Setup, configure, and run consolidations and eliminations.
Set up and define a consolidation and elimination company, add consolidation information to main accounts; define and use consolidation groups; configure elimination rules; define the consolidation methods available; perform a consolidation; create and process eliminations
Configure and perform foreign currency revaluations.
Define main account settings for foreign currency revaluation; define the types of foreign currency revaluations; perform foreign currency revaluations
Set up and run ledger allocations.
Describe the various types of ledger allocation; create ledger allocations rules and basis; process ledger allocation requests; configure allocations terms for a main account
Construct and use the period close workspace.
Describe uses for the period close workspace; configure the period close workspace; define a period close template; use the period close workspace
Set and run the fiscal year end closing processes.
Define parameters for fiscal year end close; configure and run the fiscal year close process; describe and use the closing sheet
The controller of your company has received notice from the taxing agency of another state that the sales tax rate on the company’s products sold in that will increase by 0.5% starting
on January 1st and continuing in perpetuity.
Question 1:
You must make all changes necessary in Microsoft Dynamics 365 for Finance and Operations to make these changes take effect on January 1st. Which object in Microsoft Dynamics 365 for Finance and Operations should be modified to make this change?
A. sales tax code
B. Ledger posting group
C. Sales tax authority
D. Settlement period
Answer: A
Question 2:
A vendor contacts you about an unpaid invoice. You verify that check was printed and mailed one month ago. Because the check has not been received by the vendor, you need to reissue a check to the vendor.
Which action should you perform?
A. Reverse the payment from the Vendor transaction report from, and then reissue the payment.
B. Void the check from the original payment journal, and then reissue the payment.
C. Create a reversing entry by using the General journal form, and then reissue the payment.
D. Process a payment reversal from the Checks from, and then reissue the payment.
Answer: D
Question 3:
Your company has acquired customers in a new state. The company must collect sales tax on the product sales to those customers.
As bookkeeper, you need to configure Microsoft Dynamics 365 for Finance and Operations to report collected sales tax to the new customers state authorities.
Which configuration controls the payment of sales tax to the new state?
A. main accounts
B. customer account
C. sales tax group
D. sales tax authority
Answer: C
