Microsoft Dynamics 365 Finance Functional Consultant

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.

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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?

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?

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?

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:

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.