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Microsoft MB-310

Microsoft Dynamics 365 Finance Functional Consultant

Verified practice questions with detailed answers, clear explanations, and community discussion.

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Question 1 of 425

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 are configuring the year-end setup in Dynamics 365 Finance.

You need to configure the year-end setup to meet the following requirements:

  • The accounting adjustments that are received in the first quarter must be able to be posted into the previous year's Period 13.
  • The fiscal year closing can be run again, but only the most recent closing entry will remain in the transactions.
  • All dimensions from profit and loss must carry over into the retained earnings.
  • All future and previous periods must have an On Hold status.

Solution:

  • Configure General ledger parameters.
  • Set the Delete close of year transactions option to Yes.
  • Set the Create closing transactions during transfer option to Yes.
  • Set the Fiscal year status to permanently closed option to No.
  • Define the Year-end close template.
  • Designate a retained earnings main account for each legal entity.
  • Set the Financial dimensions will be used on the Opening transactions option to No.
  • Set the Transfer profit and loss dimensions option to Close All.
  • Set all prior and future Ledger periods to a status of On Hold.

Does the solution meet the goal?

Answer choices
Show answer

Correct answer: B

The solution provided does not meet all the stated requirements. Specifically, setting 'Set the Financial dimensions will be used on the Opening transactions option to No' contradicts the requirement that 'All dimensions from profit and loss must carry over into the retained earnings.' To meet this requirement, the option should be set to Yes to ensure that financial dimensions are used. Additionally, setting the 'Delete close of year transactions option to Yes' means previous year-closing transactions would be deleted, which does not align with the goal of only keeping the most recent closing entry.

Community votes

6 votes

AMost voted

67%

BSuggested

33%

Question 2 of 425

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 are configuring the year-end setup in Dynamics 365 Finance.

You need to configure the year-end setup to meet the following requirements:

  • The accounting adjustments that are received in the first quarter must be able to be posted into the previous year's Period 13.
  • The fiscal year closing can be run again, but only the most recent closing entry will remain in the transactions.
  • All dimensions from profit and loss must carry over into the retained earnings.
  • All future and previous periods must have an On Hold status.

Solution:

  • Configure General ledger parameters.
  • Set the Delete close of year transactions option to Yes.
  • Set the Create closing transactions during transfer option to Yes.
  • Set the Fiscal year status to permanently closed option to Yes.
  • Define the Year-end close template.
  • Designate a retained earnings main account for each legal entity.
  • Set the Financial dimensions will be used on the Opening transactions option to Yes.
  • Set the Transfer profit and loss dimensions to Close All.
  • Set all prior and future Ledger periods to a status of On Hold.

Does the solution meet the goal?

Answer choices
Show answer

Correct answer: B

The solution does not meet the goal because setting the Fiscal year status to permanently closed means that the fiscal year cannot be reopened if needed, which is against the requirement that the fiscal year closing can be run again with only the most recent closing entry remaining in the transactions. Additionally, both the Create closing transactions during transfer and the Transfer profit and loss dimensions set to Close All meet the requirements, but the fiscal year status setting is crucial and incorrect.

Community votes

9 votes

BSuggested

78%

A

22%

Question 3 of 425

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 are configuring the year-end setup in Dynamics 365 Finance.

You need to configure the year-end setup to meet the following requirements:

  • The accounting adjustments that are received in the first quarter must be able to be posted into the previous year's Period 13.
  • The fiscal year closing can be run again, but only the most recent closing entry will remain in the transactions.
  • All dimensions from profit and loss must carry over into the retained earnings.
  • All future and previous periods must have an On Hold status.

Solution:

  • Configure General ledger parameters.
  • Set the Delete close of year transactions option to No.
  • Set the Create closing transactions during transfer option to No.
  • Set the Fiscal year status to permanently closed option to No.
  • Define the Year-end close template.
  • Designate a retained earnings main account for each legal entity.
  • Set the Financial dimensions will be used on the Opening transactions option to No.
  • Set the Transfer profit and loss dimensions to Close All.
  • Set all prior and future Ledger periods to a status of On Hold.

Does the solution meet the goal?

Answer choices
Show answer

Correct answer: B

The solution does not meet the goal. To ensure that the fiscal year can be closed again with only the most recent closing entry remaining, the Delete close of year transactions option should be set to Yes. Additionally, setting the Create closing transactions during transfer option to No and the Fiscal year status to permanently closed option to No does not align with the requirement to re-run the fiscal year closing while retaining the most recent closing entry.

Community votes

4 votes

BSuggested

100%

Question 4 of 425

HOTSPOT -

You are implementing a Dynamics 365 Finance general ledger module for a client that has multiple legal entities.

The client has the following requirements:

  • Configure automatic creation of due to/due from transactions based on when LegalEntityA transacts with LegalEntityB.
  • Automatically split the dollar amount in half between DimensionA and DimensionB when the journal is posted.
  • Set up fixed or variable allocations, and then review the allocations in a journal before posting.
  • Automatically post year-end results to account 30016 during year-end close.

You need to configure the system.

Which system capability should you configure? To answer, select the appropriate configuration in the answer area.

NOTE: Each correct selection is worth one point.

Hot Area:

Exam MB-310: Question 4 - Image 1
Show answer

Suggested answer

Exam MB-310: Question 4 - Image 2

Question 5 of 425

A company is preparing to complete a year-end close process.

You need to configure the Dynamics 365 Finance general ledger module.

Which three configurations actions should you perform? Each correct answer presents part of the solution.

NOTE: Each correct selection is worth one point.

Answer choices
Show answer

Correct answers: A, B, E

To properly configure the Dynamics 365 Finance general ledger module for a year-end close process, several key configurations must be completed. First, configuring the Fiscal year close parameters ensures the system's settings align with the specific requirements of the close process. Second, configuring the ledger calendar for the new fiscal year is crucial as it allows the system to recognize and create periods for the upcoming year. Finally, creating the next fiscal year is necessary since the new fiscal year needs to exist for the system to carry over the beginning balances correctly into the opening period. These steps lay the groundwork for an effective and accurate year-end closing.

Community votes

13 votes

ACEMost voted

54%

ADE

46%

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Wasted about a month going through the free dump sites scattered all over reddit, half the answers were wrong and the other half were for a version of the exam that doesn't even exist anymore. Eventually gave in and paid the small fee here, and the difference was night and day.
Alisha Kelly
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Honestly, I had already gone through the official documentation quite thoroughly, but still didn't feel fully confident going in. This helped things finally click for me. I realized I knew the material, but just hadn't connected all the pieces yet.
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I don't usually leave reviews, but this one felt worth sharing. The questions were quite close to what actually appeared on the exam, more than I expected. I spent about a week going through the material before my test, and it helped me feel more prepared.
Remi Nuyts
United States
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Archie Hopkins
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I had a smooth experience from start to finish. Access was available right away, no technical issues, which made it easy to get started. The content felt relevant and aligned well with what I was looking for.
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United States
Does what it says it does. Content felt solid, nothing confusing to navigate and I didn't run into any weird issues. I been putting off scheduling the exam for a while and going through this gave me enough confidence to finally book it and pass.
Neil Savage
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A very quick response was received via email when a link issue occurred. The study materials provided were high quality and extremely helpful. I was able to complete the test successfully. Many thanks for the excellent support.

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