Microsoft Dynamics AX Financials

QUESTION NO: 1

Your company is using basic budgeting and is planning to configure budget control.

You need to identify the additional configuration that is needed.

Which three components will already be configured as part of the basic budgeting setup? Each correct answer presents part of the solution.

A. budget models

B. budget exchange rates

C. over budget permissions

D. budget cycles

E. documents and journals

Answer: A, B, D

References:

https://technet.microsoft.com/en-us/library/hh242128.aspx

QUESTION NO: 2

You are setting up the budgeting module for your employer and are given a list of budget codes needed in the system.

You want to create a “Preliminary” budget code but are unable to select it on the “Budget Codes” form.

Which configuration key enables “Preliminary” and “Appointments” budget types?

A. General Ledger – advanced II configuration key

B. Budget control configuration key

C. General Ledger configuration key

D. Public Sector configuration key

Answer: D

QUESTION NO: 3

You decide that department managers must submit budget plans to you each quarter.

You need to use the budget planning template wizard to generate a budget planning template that each department will submit to you.

What are three prerequisites for creating a template for budget plan worksheets? Each correct answer presents part of the solution.

A. Create a budget plan and review its information by using a worksheet template.

B. Decide which matrix fields to create.

C. Select the worksheet template to use for the budget planning process.

D. Decide which fields to use for the header.

E. Decide which columns to include on the worksheet.

Answer: A, B, D

QUESTION NO: 4

You need all budget transfers to use a workflow except the specific members of the budget transfer rules.

When creating a budget transfer rule, what information is used to define when transfers are allowed?

A. the dimensions of the transfer

B. the amount of the transfer

C. the date of the transfer

D. the employee requesting the transfer

Answer: A

QUESTION NO: 5

Your company is considering tracking budgets by Account, Department, and Cost Center dimensions. There is a requirement to prevent exceeding the budgeted amounts for each Department but not for each Cost Center.

Which three actions must be performed to allow budget control for Account and Departments, and basic budgeting by Account, Department, and Cost Center, before budget control is enabled? Each correct answer presents part of the solution.

A. Select only “MainAccount” and “Department” as budgeting dimensions.

B. Select the main accounts for budget control.

C. Select only “MainAccount” and “Department” as budget control dimensions.

D. Select only “Department” as a budget control dimension.

E. Select only “MainAccount”, “Department”, and “CostCenter” as budgeting dimensions.

Answer: B, D, E

References:

https://technet.microsoft.com/en-us/library/hh242453.aspx

QUESTION NO: 6

You are creating a budget register entry. You notice that a manual budget reservation will exceed the budget.

What should you do within the budget register entry to satisfy the over-budget condition?

A. enter recurrence

B. transfer balances

C. allocate across periods

D. allocate across dimensions

Answer: B

QUESTION NO: 7

You are creating a new budget and realize that you need to allocate a certain percentage of the total budget amount across defined periods.

In order to do this on the budget register entry, you need to define the percentage that will be allocated in each period.

What should you set up in order to achieve this goal?

A. budget transfer

B. period allocation key

C. budget allocation term

D. budget cycle

Answer: B

QUESTION NO: 8

You are an accountant.

You are creating your travel expense budget for the fiscal year and want to enter the same budget amount for each month.

On the budget register entry, which option should you choose?

A. transfer balances

B. allocate across dimensions

C. enter recurrence

D. allocate across periods

Answer: C

References:

https://technet.microsoft.com/en-us/library/hh227576.aspx

QUESTION NO: 9

You are the director of finance.

You are starting to create budgets for the fiscal year and want to generate budget plans from source information.

Which three options can you choose from in Microsoft Dynamics AX Financials? Each correct answer presents a complete solution.

A. Generate budget plan from general ledger.

B. Generate budget plan from fixed assets.

C. Generate budget plan from forecast positions.

D. Generate budget plan from yearly sales.

E. Generate budget plan from yearly purchases.

Answer: A, B, C

References:

https://technet.microsoft.com/en-us/library/jj677325.aspx

QUESTION NO: 10

You are creating a parent budget plan that will consist of budget amounts for all departments.

You then need to create associate budget plans and link them to the parent budget.

Before you can create the associate budget plans, which two steps must be completed? Each correct answer presents part of the solution.

A. The budget plan priority must be selected on the budget plan creation.

B. The budget organization hierarchy must have at least two levels.

C. The budget planning process that you select must be set up for associated budget plans.

D. The individual preparing the budget plan needs appropriate permissions to create an associate budget plan.

Answer: B, D

QUESTION NO: 11

You are creating a new budget plan and want to allocate the budget plan lines from the source budget plan scenario in the parent budget plan to the destination scenario in the associated budget plans.

Which allocation method should you use?

A. Allocate across periods

B. Use ledger allocation rule

C. Distribute

D. Aggregate

Answer: C

References:

https://ax.help.dynamics.com/en/wiki/budget-planning-data-allocation/

QUESTION NO: 12

You are an accounts receivable manager. Your company levies a fine with a high-interest premium on a customer’s overdue amount. The customer disputes this fine and succeeds.

You need to waive the file in Microsoft Dynamics AX Financials.

What should you do?

A. Print/Post Interest notes.

B. Create an interest adjustment.

C. Print/Post Collection letter notes.

D. Generate a customer account statement.

Answer: A

References:

https://technet.microsoft.com/en-us/library/hh242842.aspx

QUESTION NO: 13

You need to analyze the maturity of customer accounts and vendor accounts, based on a date that you enter. The date entered, together with the Unit and Interval information defined, will be used to calculate and view the transactions.

What should you do?

A. Set up Aging period definition.

B. Set up Customer pool.

C. Set up Aging snapshot.

D. Set up interest codes.

Answer: A

References:

https://technet.microsoft.com/en-us/library/hh209419.aspx

QUESTION NO: 14

You need to consolidate multiple subsidiary company transactions into the consolidation company in Microsoft Dynamics AX Financials.

You need to modify the financial dimensions at the time of consolidation, such as including the originating company code on each transaction.

When performing a consolidation in Dynamics AX, which three specifications can be selected for each dimension? Each correct answer presents a complete solution.

A. group dimension

B. main accounts

C. dimension

D. operating units

E. company accounts

Answer: A, C, E

QUESTION NO: 15

Your company decides to use Microsoft Dynamics AX Financials for consolidated financial reporting instead of using Management Reporter.

You need to configure a new legal entity for the consolidated financial transactions.

What must you do to enable the subsidiary company’s transactions to consolidate into the new legal entity that you are creating?

A. Enable the “Use for financial consolidation process” check box in both the consolidated and subsidiary companies.

B. Enable the “Use for financial consolidation process” check box in the subsidiary company.

C. Enable the “Use for financial elimination process” check box in the consolidated company.

D. Enable the “Use for financial consolidation process” check box for the consolidated company.

Answer: D

References:

https://technet.microsoft.com/en-us/library/aa549110.aspx

QUESTION NO: 16

What are the three advanced collection management tasks that are performed in Microsoft Dynamics AX Financials to manage collections? Each correct answer presents part of the solution.

A. waive, reinstate, or reverse interest and fees

B. create write-off transactions

C. set up interest codes

D. set up Customer pool

E. process non-sufficient funds (NSF) payments

Answer: A, B, E

References:

https://technet.microsoft.com/en-us/library/hh209221.aspx

QUESTION NO: 17

You are a credit and collections manager. You receive a check of 20,000 USD from a customer against overdue invoices. However, the bank informs you that the customer funds do not exist, and the check does not clear.

You need to cancel the payment and charge the customer for this occurrence.

What should you do?

A. Waive, reinstate, or reverse interest and fees.

B. Create write-off transactions.

C. Process non-sufficient funds (NSF) payments.

D. Set up interest adjustments.

Answer: C

References:

https://technet.microsoft.com/en-us/library/aa634902.aspx

QUESTION NO: 18

You are a credit manager.

You want to set up a process in your system to send customers a notification of their balances due if the balance fails to clear within the due date. You also need to apply additional fees to charge the customer on the balance due as per your company policies.

What should you do?

A. Generate a report for customer transactions.

B. Generate a customer accounts statement.

C. Generate an internal accounts statement.

D. Generate a collection letter note.

Answer: D

QUESTION NO: 19

You want a 2% bank charge to appear by default on all electronic methods of payment.

What do you need to set up and then link to the method of payment?

A. terms of payment

B. payment specification

C. payment fee

D. payment control

Answer: C

QUESTION NO: 20

You are an accounts payable clerk.

When creating purchase order invoices, your company has a policy that you must match the purchase order, product receipt quantities, and amounts to the vendor invoice.

In the Accounts Payable Parameters, which line-matching policy should you choose?

A. two-way matching

B. charges matching

C. not required

D. three-way matching

Answer: D

References:

https://technet.microsoft.com/en-us/library/hh242852.aspx

QUESTION NO: 21

You are an accounts receivable manager.

You need to categorize the customer payment journal lines as deposits for reporting purposes on the bank statement.

What should this manager create and define on the journal lines to categorize them as deposits?

A. default descriptions

B. reason code

C. payment reference

D. bank transaction type

Answer: B

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