MB-310 Implement and Manage Accounts Payable and Expenses — All Questions With Answers

Question 1mediummultiple choice

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A company wants to ensure that all vendor invoices are matched against purchase orders. Which matching policy should be used if the company requires the system to stop posting when the invoice price exceeds the purchase order price by more than 5%?

Question 2hardmulti select

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Which THREE actions are required to successfully process an expense report for reimbursement in Dynamics 365 Finance? (Choose three)

Question 3hardmultiple choice

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Refer to the exhibit. An invoice fails to post due to a matching variance. What is the most effective way to resolve this while maintaining internal controls?

Exhibit

Error: Vendor invoice matching error. Variance between 'Invoice' amount and 'Purchase Order' amount exceeds tolerance threshold for account 2001.

Question 4hardmulti select

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Which THREE items are mandatory to configure when setting up a new vendor in Dynamics 365? (Choose three)

Question 5mediummulti select

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Which TWO settings are configured in the 'Accounts payable parameters' to ensure proper invoice validation? (Choose two)

Question 6mediummultiple choice

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An organization requires that vendor invoices exceeding $10,000 must automatically be placed on hold to prevent accidental payment before additional management review occurs. How should you configure Accounts Payable parameters to achieve this requirement?

Question 7mediummultiple choice

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A company requires that vendor invoices be automatically matched against purchase orders. You need to ensure that the system prevents payment if the invoice total deviates by more than 5% from the purchase order total. Which setup should you configure?

Question 8hardmulti select

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A company is implementing a new expense management process. Users need to report mileage expenses. Which TWO configurations are required to support this?

Question 9mediummulti select

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Which THREE actions can be performed using the Vendor payment proposal feature?

Question 10mediummultiple choice

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You need to ensure that specific vendor invoices are automatically put on hold if they exceed a certain amount. Where should you define this threshold?

Question 11hardmulti select

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Which THREE conditions must be met for a vendor invoice to be automatically matched during the invoice registration process?

Question 12mediummultiple choice

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A user needs to see only the invoices that are ready for payment. Which feature in the vendor payment journal allows this filtering?

Question 13mediummultiple choice

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Your organization operates globally in Microsoft Dynamics 365 Finance and needs to configure vendor invoice matching to automatically place invoices on hold when price discrepancies exceed the tolerance percentage. Which setup component must you configure before activating matching policies at the Accounts payable parameters level?

Question 14mediummultiple choice

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A legal firm in Dynamics 365 Finance has a vendor that must never be paid through an automated payment proposal because every disbursement requires a partner-level manual review and supporting documentation attached to the payment. The firm still wants to generate payments for this vendor and record them in the vendor payment journal. What is the most appropriate configuration?

Question 15hardmultiple choice

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A company uses vendor invoice matching with a two-way match policy for a specific vendor. An invoice for 10 units at 100 USD each is posted against a purchase order for 10 units at 100 USD each, but the invoice includes a 50 USD freight charge that is not on the PO. The matching policy tolerance for price is 0 percent and for quantity is 0 percent. What is the result when the invoice is posted?

Question 16hardmultiple choice

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A Dynamics 365 Finance consultant is setting up vendor payments for a legal entity that pays vendors in a foreign currency. The bank account used for payment is in the company currency. The treasurer wants the payment journal to calculate and post exchange differences automatically when the payment settles the invoice. What should the consultant verify?

Question 17hardmultiple choice

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A legal entity uses centralized payments and needs to pay invoices for vendors that belong to a different legal entity. The accountant configures the vendor for centralized payments in the paying legal entity. Which additional setup is required so the payment proposal can select the other legal entity's open invoices?

Question 18hardmultiple choice

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A company uses Dynamics 365 Finance for accounts payable. The accounts payable manager wants to ensure that when a vendor invoice is posted, the system automatically checks that the invoice total does not exceed the total of the matched purchase order lines by more than 5%. Which configuration should you set up?

Question 19easymultiple choice

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A company wants to streamline the process of paying multiple vendor invoices in a single payment. The accounting team currently creates individual payments for each invoice, which results in higher bank fees. You need to configure the system to combine invoices for the same vendor into one payment. What should you use?

Question 20easymultiple choice

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A company's accounts payable team needs to pay multiple posted vendor invoices for the same vendor using a single payment. The invoices were posted at different times and have different due dates. The payment proposal must include all open invoices and generate one vendor payment. Which configuration in the Vendor payment proposal should the team use?

Question 21hardmulti select

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An accounts payable manager is configuring vendor payment fees in Dynamics 365 Finance. The organization charges a fee to vendors when payments are made by a specific payment method, and the fee must be posted to a dedicated ledger account. Which TWO setups are required to post vendor payment fees correctly? (Choose two.)

Question 22hardmultiple choice

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A manufacturing company uses Dynamics 365 Finance with Accounts Payable. The controller wants to pay a vendor invoice in three installments over three months without creating separate invoices. The vendor agreement specifies that each installment is due on the 15th of the month. The AP clerk needs to configure the system so that the payment proposal picks up each installment on its due date. What should the clerk do?

Question 23mediummultiple choice

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A vendor submits an invoice for $12,000 with payment terms of 2% 10, Net 30. The accounting manager wants the system to automatically calculate and post the cash discount when the invoice is paid within the discount period. Which configuration should you set up on the vendor record to achieve this?

Question 24hardmultiple choice

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A vendor invoice is entered with a total of $5,000, but the three-way matching policy requires that the invoice total must not exceed the sum of received quantities priced at the purchase order unit price. The received quantity is 100 units at $48 each, totaling $4,800. You need the system to hold the invoice from posting and route it for approval rather than reject it outright. Which matching policy configuration should you use?

Question 25hardmulti select

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A company uses Dynamics 365 Finance to manage vendor invoices. They want to implement a three-way matching policy that requires purchase order, product receipt, and vendor invoice quantities to match before an invoice can be posted. Which two configurations are required to enforce this policy? (Choose two.)

Question 26mediummultiple choice

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A user needs to process a vendor payment proposal that includes only invoices with a due date on or before the end of the current month. The user also wants to exclude any invoices that are on hold. Which two settings should the user configure in the Vendor payment proposal form?

Question 27mediummultiple choice

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A vendor invoice is entered in Dynamics 365 Finance with a total of $1,200. The invoice has two lines: one for $800 and one for $400. The invoice matching policy requires a two-way match with a price tolerance of 5% and a quantity tolerance of 10%. The purchase order line for the $800 item has a unit price of $820. The $400 line matches exactly. What is the matching result and what action should the AP clerk take?

Question 28hardmultiple choice

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A company uses Dynamics 365 Finance to process vendor payments. They want to apply a one-time 2% early payment discount to a specific vendor invoice, but the vendor's default payment terms do not include a discount. The AP manager needs to apply the discount only to this invoice without changing the vendor's default terms. What should the AP manager do?

Question 29hardmulti select

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A company is configuring the Accounts payable module in Dynamics 365 Finance. They need to set up vendor payment fees that will be automatically applied when payments are generated. The fees should be calculated based on the payment method and should post to a specific ledger account. Which two configurations are required to achieve this? (Choose two.)

Question 30mediummultiple choice

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A company requires that vendor invoices for services be approved by the department manager before they can be posted. Which configuration must be enabled in Accounts payable parameters?

Question 31hardmultiple choice

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Refer to the exhibit. A user submits an expense report for $75.00 under the 'Meals' category. Based on the provided policy JSON, what is the outcome during the expense submission process?

Exhibit

{
  "ExpensePolicy": {
    "Limit": 50.00,
    "Category": "Meals",
    "Action": "HardStop",
    "WarningMessage": "Exceeds daily meal allowance"
  }
}

Question 32mediummulti select

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Which TWO of the following are prerequisites for setting up a vendor payment run using the payment proposal feature? (Choose two)

Question 33easymultiple choice

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What is the purpose of the 'Vendor collaboration' module in Dynamics 365 Finance?

Question 34mediummultiple choice

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When setting up a vendor, what is the primary function of a 'Vendor group'?

Question 35mediummultiple choice

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A company needs to pay multiple invoices for a single vendor in one payment. Which feature should they use to combine these invoices into a single payment?

Question 36mediummultiple choice

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What is the primary benefit of using a 'Vendor posting profile'?

Question 37mediummultiple choice

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A company needs to pay a vendor in a currency different from the accounting currency. Where is the currency set for the vendor?

Question 38easymultiple choice

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What is the purpose of the 'Vendor invoice' journal?

Question 39hardmultiple choice

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Refer to the exhibit. What is the cause of this error when posting a vendor invoice?

Exhibit

Error: Transaction contains invalid financial dimensions for account 6001. Dimension 'Department' is required.

Question 40mediummultiple choice

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Refer to the exhibit. An accountant reports that they are still able to post invoices exceeding $100.00 without being blocked. Based on the provided policy JSON, why is this occurring?

Exhibit

{
  "policy_name": "VendorInvoicePolicy",
  "rule_type": "InvoiceTotal",
  "threshold": "100.00",
  "action": "Warn",
  "enforce_on": "PO_Invoices"
}

Question 41easymultiple choice

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What is the purpose of the 'Vendor payment fee' setup?

Question 42mediummultiple choice

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A company requires that all expense reports are reviewed by a manager before they are posted to the General Ledger. Which configuration fulfills this requirement?

Question 43mediummultiple choice

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You are setting up a vendor that operates in multiple currencies. How should you define the currency for this vendor to ensure correct exchange rate usage?

Question 44easymultiple choice

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Where do you define the default accounts for vendor payments in Dynamics 365 Finance?

Question 45mediummultiple choice

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Your company uses vendor payment proposals in Microsoft Dynamics 365 Finance to select invoices for payment. During proposal generation, you need to ensure that invoices eligible for cash discounts are prioritized, and payments are restricted to a maximum total disbursement amount. Where should you configure these specific selection criteria?

Question 46mediummultiple choice

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A vendor invoice for 1,200 EUR is posted on March 15 with an exchange rate to USD of 1.10, resulting in a payable of 1,320 USD. The invoice remains unpaid at the end of the month. On March 31, the exchange rate is 1.15. The accounts payable manager runs the foreign currency revaluation for accounts payable. Which ledger account is debited by the revaluation posting, and for what amount?

Question 47easymultiple choice

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A new accounts payable clerk must record a vendor invoice that is not tied to a purchase order. The clerk needs the invoice to be available for a payment proposal in the next payment run. Which journal type should the clerk use to enter the invoice?

Question 48mediummultiple choice

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A Dynamics 365 Finance accounts payable manager needs to configure the system so that vendor invoices entered in the pending vendor invoice form can be posted only after a three-way matching check against the purchase order and product receipt. The matching must block posting when the net unit price variance exceeds 5 percent. What should the manager configure first?

Question 49hardmultiple choice

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A company uses Dynamics 365 Finance to process vendor payments. The treasury team wants to generate a payment proposal for a specific vendor group that includes only invoices due in the next 14 days, and they want to exclude any invoices that are on hold. After the proposal is generated, they need to review and remove selected invoices before posting. What should they do?

Question 50hardmultiple choice

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A company uses the Expense management module. An employee submits an expense report that includes a hotel charge of 500 USD. The expense policy requires a receipt for any expense over 100 USD. The employee did not attach a receipt. The policy is configured with the 'Receipt required' rule and the 'Warn' action. What happens when the employee submits the report?

Question 51easymultiple choice

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An accounts payable clerk in Dynamics 365 Finance needs to record a vendor invoice that has no purchase order reference, and the invoice must be posted immediately to the vendor balance without going through a pending invoice approval. Which journal should the clerk use?

Question 52mediummulti select

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A company is configuring expense management in Dynamics 365 Finance. Controllers want to ensure that expense reports submitted by employees are routed to the correct approver and that certain categories require a receipt. Which two configurations should the functional consultant set up? (Choose two.)

Question 53mediummultiple choice

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A vendor invoice for 100 units of an item is entered for a purchase order line that has a confirmed quantity of 100 units, but the product receipt was posted for only 80 units. The invoice matching policy for the legal entity requires three-way matching and has 'Allow matching discrepancies' disabled. A user attempts to post the invoice. What happens when the user clicks Post?

Question 54easymultiple choice

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An accounts payable clerk must process a weekly payment run that pays all approved vendor invoices due within the next seven days while excluding invoices on payment hold. The clerk wants the system to generate the payment lines automatically rather than entering them manually. Which feature should the clerk use?

Question 55mediummultiple choice

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A legal firm uses Dynamics 365 Finance for accounts payable. When a new vendor is created, the firm must ensure that all future vendor invoices for that vendor are automatically eligible for 1099 reporting. Which configuration should you set on the vendor record?

Question 56mediummultiple choice

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A vendor invoice for $12,000 has a payment term of Net 30. The accounting manager wants the system to automatically apply a 2% early payment discount if the invoice is paid within 10 days. The discount is not currently being calculated on the payment proposal. You need to configure the system so the discount is calculated and posted correctly. What should you do first?

Question 57hardmultiple choice

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A company uses invoice matching on purchase orders. A vendor invoice for a purchase order has a quantity of 100 units at $10 each, but the product receipt shows 95 units received. The invoice matching policy is set to three-way matching with a quantity tolerance of 2%. The invoice is currently on hold. You need to determine why the invoice is on hold and what action will release it. What is the correct explanation?

Question 58mediummultiple choice

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A company wants employees to submit expense reports through the Expense Management workspace, and the controller must approve reports before reimbursement. Employees should only be able to select expense categories assigned to their policy. Which setup controls which expense categories an employee can choose on an expense report?

Question 59mediummultiple choice

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A legal firm uses Dynamics 365 Finance to reimburse attorneys for bar association dues and continuing legal education (CLE) courses. The firm's policy states that bar association dues must be reimbursed at 100%, while CLE courses require prior approval from a managing partner. The accounts payable manager needs to configure the system so that these rules are enforced automatically when expense reports are submitted. What should the manager configure?

Question 60mediummultiple choice

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A vendor invoice for $12,000 is posted in Legal entity A. The shared service center in Legal entity B must pay this invoice on behalf of Legal entity A using centralized payments. You configure the payment journal in Legal entity B and select the invoice for payment. Which configuration must be in place so that the accounting entries are recorded correctly in Legal entity A while the payment is processed from Legal entity B?

Question 61mediummultiple choice

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A legal firm processes vendor invoices centrally in its US legal entity (LE-US) but needs the related expense and payment to be recorded in the Canadian legal entity (LE-CA) to reduce intercompany reconciliation effort. The vendor is defined in both legal entities and the invoice has already been posted in LE-US. You need to configure the system so the invoice can be posted once in LE-US and automatically create the corresponding vendor invoice and liability in LE-CA. What should you do?

Question 62hardmultiple choice

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A company pays a vendor in a foreign currency. The invoice is posted in EUR, but the company's accounting currency is USD. When the payment is made, the exchange rate has changed, resulting in a realized gain or loss. You need to ensure that the realized gain or loss is automatically posted to the correct ledger account. What should you configure?

Question 63hardmultiple choice

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A manufacturing company uses purchase orders with three-way matching in Dynamics 365 Finance. A vendor invoice for 1,200 units arrives, but the related product receipt covers only 1,000 units. The matching policy is configured with a quantity tolerance of 0 percent. The accounts payable clerk tries to post the invoice and receives a matching discrepancy. The controller asks how to release the invoice for payment without weakening the matching policy for all future invoices. What should the clerk do?

Question 64easymultiple choice

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A retail company uses Dynamics 365 Finance to manage vendor payments. The AP manager notices that a vendor invoice for $10,000 was posted with a payment term of Net 30, but the vendor offers a 2% discount if paid within 10 days. The manager wants the system to automatically calculate and apply the discount when the payment proposal includes the invoice within the discount period. What should the manager configure on the vendor invoice?

Question 65mediummulti select

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A shared-services accounts payable team is preparing to run a weekly vendor payment proposal for 400 vendors. The team wants the proposal to consider only invoices that are due within the next ten days and only for vendors assigned to the 'Domestic' vendor group, and to exclude any invoice that is already in a payment hold. Which TWO parameters or filters must the team configure on the Vendor payment proposal to achieve this? (Choose two.)

Question 66mediummultiple choice

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A consulting firm uses Dynamics 365 Finance for expense management. Employees often submit expense reports that include both client-billable and internal expenses. The firm's policy requires that client-billable expenses be charged to a specific customer and project, while internal expenses are charged to a default department. The expense management administrator needs to ensure that employees can select the customer and project on expense lines when the expense is billable. What should the administrator configure?

Question 67easymultiple choice

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An accounts payable manager needs to pay several outstanding invoices from the same vendor in a single bank transfer instead of issuing a separate payment for each invoice. The vendor is already set up with a bank account and the invoices are due. What should the manager configure or use so the invoices are consolidated into one payment?

Question 68easymultiple choice

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An accounts payable clerk needs to record a vendor invoice that was received without a purchase order. The invoice is for office supplies and should be recorded directly against an expense account. Which transaction type should the clerk use in Dynamics 365 Finance?

Question 69hardmulti select

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A company uses Dynamics 365 Finance Accounts Payable. The AP manager is configuring the Vendor invoice matching policy to enforce two-way matching for a specific vendor. The manager needs to ensure that the system validates the invoice against the purchase order and prevents posting if the quantity or price variance exceeds the tolerance. Which two configurations must the manager set up to achieve this? (Choose two.)

Question 70hardmultiple choice

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A company reimburses employees for travel expenses through the Expense management module. The controller wants to ensure that when an employee submits an expense report, the system automatically routes it to the employee's cost center manager first and then to the corporate travel approver, without the employee choosing approvers. Which configuration should the functional consultant implement?

Question 71mediummultiple choice

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A company wants to charge a $15 wire transfer fee each time a vendor is paid by wire. The fee should be automatically added to the payment journal line when the wire payment method is used. What should you configure?

Question 72hardmulti select

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You are configuring the vendor invoice workflow to route invoices for approval based on the invoice amount. You need to ensure that invoices over $10,000 require approval by the accounts payable manager, while invoices under $10,000 are auto-approved. Which TWO configuration steps are required to achieve this? (Choose two.)

Question 73easymultiple choice

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A company wants to reimburse employees for out-of-pocket expenses. The expense management module is configured. An employee submits an expense report that includes a $50 meal expense. The company policy allows a maximum of $40 per meal. Which feature should the expense manager use to enforce this limit?

Question 74mediummultiple choice

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A vendor invoice is entered with a total of $10,000. The vendor offers a cash discount of 1% if paid within 10 days. The invoice is paid on day 8. The payment journal is created without manually adjusting the amount. What will be the result when the payment is posted?

Question 1mediummultiple choice

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A company wants to ensure that all vendor invoices are matched against purchase orders. Which matching policy should be used if the company requires the system to stop posting when the invoice price exceeds the purchase order price by more than 5%?

Question 2hardmulti select

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Which THREE actions are required to successfully process an expense report for reimbursement in Dynamics 365 Finance? (Choose three)

Question 3hardmultiple choice

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Refer to the exhibit. An invoice fails to post due to a matching variance. What is the most effective way to resolve this while maintaining internal controls?

Exhibit

Error: Vendor invoice matching error. Variance between 'Invoice' amount and 'Purchase Order' amount exceeds tolerance threshold for account 2001.

Question 4hardmulti select

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Which THREE items are mandatory to configure when setting up a new vendor in Dynamics 365? (Choose three)

Question 5mediummulti select

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Which TWO settings are configured in the 'Accounts payable parameters' to ensure proper invoice validation? (Choose two)

Question 6mediummultiple choice

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An organization requires that vendor invoices exceeding $10,000 must automatically be placed on hold to prevent accidental payment before additional management review occurs. How should you configure Accounts Payable parameters to achieve this requirement?

Question 7mediummultiple choice

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A company requires that vendor invoices be automatically matched against purchase orders. You need to ensure that the system prevents payment if the invoice total deviates by more than 5% from the purchase order total. Which setup should you configure?

Question 8hardmulti select

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A company is implementing a new expense management process. Users need to report mileage expenses. Which TWO configurations are required to support this?

Question 9mediummulti select

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Which THREE actions can be performed using the Vendor payment proposal feature?

Question 10mediummultiple choice

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You need to ensure that specific vendor invoices are automatically put on hold if they exceed a certain amount. Where should you define this threshold?

Question 11hardmulti select

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Which THREE conditions must be met for a vendor invoice to be automatically matched during the invoice registration process?

Question 12mediummultiple choice

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A user needs to see only the invoices that are ready for payment. Which feature in the vendor payment journal allows this filtering?

Question 13mediummultiple choice

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Your organization operates globally in Microsoft Dynamics 365 Finance and needs to configure vendor invoice matching to automatically place invoices on hold when price discrepancies exceed the tolerance percentage. Which setup component must you configure before activating matching policies at the Accounts payable parameters level?

Question 14mediummultiple choice

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A legal firm in Dynamics 365 Finance has a vendor that must never be paid through an automated payment proposal because every disbursement requires a partner-level manual review and supporting documentation attached to the payment. The firm still wants to generate payments for this vendor and record them in the vendor payment journal. What is the most appropriate configuration?

Question 15hardmultiple choice

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A company uses vendor invoice matching with a two-way match policy for a specific vendor. An invoice for 10 units at 100 USD each is posted against a purchase order for 10 units at 100 USD each, but the invoice includes a 50 USD freight charge that is not on the PO. The matching policy tolerance for price is 0 percent and for quantity is 0 percent. What is the result when the invoice is posted?

Question 16hardmultiple choice

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A Dynamics 365 Finance consultant is setting up vendor payments for a legal entity that pays vendors in a foreign currency. The bank account used for payment is in the company currency. The treasurer wants the payment journal to calculate and post exchange differences automatically when the payment settles the invoice. What should the consultant verify?

Question 17hardmultiple choice

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A legal entity uses centralized payments and needs to pay invoices for vendors that belong to a different legal entity. The accountant configures the vendor for centralized payments in the paying legal entity. Which additional setup is required so the payment proposal can select the other legal entity's open invoices?

Question 18hardmultiple choice

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A company uses Dynamics 365 Finance for accounts payable. The accounts payable manager wants to ensure that when a vendor invoice is posted, the system automatically checks that the invoice total does not exceed the total of the matched purchase order lines by more than 5%. Which configuration should you set up?

Question 19easymultiple choice

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A company wants to streamline the process of paying multiple vendor invoices in a single payment. The accounting team currently creates individual payments for each invoice, which results in higher bank fees. You need to configure the system to combine invoices for the same vendor into one payment. What should you use?

Question 20easymultiple choice

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A company's accounts payable team needs to pay multiple posted vendor invoices for the same vendor using a single payment. The invoices were posted at different times and have different due dates. The payment proposal must include all open invoices and generate one vendor payment. Which configuration in the Vendor payment proposal should the team use?

Question 21hardmulti select

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An accounts payable manager is configuring vendor payment fees in Dynamics 365 Finance. The organization charges a fee to vendors when payments are made by a specific payment method, and the fee must be posted to a dedicated ledger account. Which TWO setups are required to post vendor payment fees correctly? (Choose two.)

Question 22hardmultiple choice

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A manufacturing company uses Dynamics 365 Finance with Accounts Payable. The controller wants to pay a vendor invoice in three installments over three months without creating separate invoices. The vendor agreement specifies that each installment is due on the 15th of the month. The AP clerk needs to configure the system so that the payment proposal picks up each installment on its due date. What should the clerk do?

Question 23mediummultiple choice

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A vendor submits an invoice for $12,000 with payment terms of 2% 10, Net 30. The accounting manager wants the system to automatically calculate and post the cash discount when the invoice is paid within the discount period. Which configuration should you set up on the vendor record to achieve this?

Question 24hardmultiple choice

Review the full routing breakdown →

A vendor invoice is entered with a total of $5,000, but the three-way matching policy requires that the invoice total must not exceed the sum of received quantities priced at the purchase order unit price. The received quantity is 100 units at $48 each, totaling $4,800. You need the system to hold the invoice from posting and route it for approval rather than reject it outright. Which matching policy configuration should you use?

Question 25hardmulti select

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A company uses Dynamics 365 Finance to manage vendor invoices. They want to implement a three-way matching policy that requires purchase order, product receipt, and vendor invoice quantities to match before an invoice can be posted. Which two configurations are required to enforce this policy? (Choose two.)

Question 26mediummultiple choice

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A user needs to process a vendor payment proposal that includes only invoices with a due date on or before the end of the current month. The user also wants to exclude any invoices that are on hold. Which two settings should the user configure in the Vendor payment proposal form?

Question 27mediummultiple choice

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A vendor invoice is entered in Dynamics 365 Finance with a total of $1,200. The invoice has two lines: one for $800 and one for $400. The invoice matching policy requires a two-way match with a price tolerance of 5% and a quantity tolerance of 10%. The purchase order line for the $800 item has a unit price of $820. The $400 line matches exactly. What is the matching result and what action should the AP clerk take?

Question 28hardmultiple choice

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A company uses Dynamics 365 Finance to process vendor payments. They want to apply a one-time 2% early payment discount to a specific vendor invoice, but the vendor's default payment terms do not include a discount. The AP manager needs to apply the discount only to this invoice without changing the vendor's default terms. What should the AP manager do?

Question 29hardmulti select

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A company is configuring the Accounts payable module in Dynamics 365 Finance. They need to set up vendor payment fees that will be automatically applied when payments are generated. The fees should be calculated based on the payment method and should post to a specific ledger account. Which two configurations are required to achieve this? (Choose two.)

Question 30mediummultiple choice

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A company requires that vendor invoices for services be approved by the department manager before they can be posted. Which configuration must be enabled in Accounts payable parameters?

Question 31hardmultiple choice

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Refer to the exhibit. A user submits an expense report for $75.00 under the 'Meals' category. Based on the provided policy JSON, what is the outcome during the expense submission process?

Exhibit

{
  "ExpensePolicy": {
    "Limit": 50.00,
    "Category": "Meals",
    "Action": "HardStop",
    "WarningMessage": "Exceeds daily meal allowance"
  }
}

Question 32mediummulti select

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Which TWO of the following are prerequisites for setting up a vendor payment run using the payment proposal feature? (Choose two)

Question 33easymultiple choice

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What is the purpose of the 'Vendor collaboration' module in Dynamics 365 Finance?

Question 34mediummultiple choice

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When setting up a vendor, what is the primary function of a 'Vendor group'?

Question 35mediummultiple choice

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A company needs to pay multiple invoices for a single vendor in one payment. Which feature should they use to combine these invoices into a single payment?

Question 36mediummultiple choice

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What is the primary benefit of using a 'Vendor posting profile'?

Question 37mediummultiple choice

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A company needs to pay a vendor in a currency different from the accounting currency. Where is the currency set for the vendor?

Question 38easymultiple choice

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What is the purpose of the 'Vendor invoice' journal?

Question 39hardmultiple choice

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Refer to the exhibit. What is the cause of this error when posting a vendor invoice?

Exhibit

Error: Transaction contains invalid financial dimensions for account 6001. Dimension 'Department' is required.

Question 40mediummultiple choice

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Refer to the exhibit. An accountant reports that they are still able to post invoices exceeding $100.00 without being blocked. Based on the provided policy JSON, why is this occurring?

Exhibit

{
  "policy_name": "VendorInvoicePolicy",
  "rule_type": "InvoiceTotal",
  "threshold": "100.00",
  "action": "Warn",
  "enforce_on": "PO_Invoices"
}

Question 41easymultiple choice

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What is the purpose of the 'Vendor payment fee' setup?

Question 42mediummultiple choice

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A company requires that all expense reports are reviewed by a manager before they are posted to the General Ledger. Which configuration fulfills this requirement?

Question 43mediummultiple choice

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You are setting up a vendor that operates in multiple currencies. How should you define the currency for this vendor to ensure correct exchange rate usage?

Question 44easymultiple choice

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Where do you define the default accounts for vendor payments in Dynamics 365 Finance?

Question 45mediummultiple choice

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Your company uses vendor payment proposals in Microsoft Dynamics 365 Finance to select invoices for payment. During proposal generation, you need to ensure that invoices eligible for cash discounts are prioritized, and payments are restricted to a maximum total disbursement amount. Where should you configure these specific selection criteria?

Question 46mediummultiple choice

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A vendor invoice for 1,200 EUR is posted on March 15 with an exchange rate to USD of 1.10, resulting in a payable of 1,320 USD. The invoice remains unpaid at the end of the month. On March 31, the exchange rate is 1.15. The accounts payable manager runs the foreign currency revaluation for accounts payable. Which ledger account is debited by the revaluation posting, and for what amount?

Question 47easymultiple choice

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A new accounts payable clerk must record a vendor invoice that is not tied to a purchase order. The clerk needs the invoice to be available for a payment proposal in the next payment run. Which journal type should the clerk use to enter the invoice?

Question 48mediummultiple choice

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A Dynamics 365 Finance accounts payable manager needs to configure the system so that vendor invoices entered in the pending vendor invoice form can be posted only after a three-way matching check against the purchase order and product receipt. The matching must block posting when the net unit price variance exceeds 5 percent. What should the manager configure first?

Question 49hardmultiple choice

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A company uses Dynamics 365 Finance to process vendor payments. The treasury team wants to generate a payment proposal for a specific vendor group that includes only invoices due in the next 14 days, and they want to exclude any invoices that are on hold. After the proposal is generated, they need to review and remove selected invoices before posting. What should they do?

Question 50hardmultiple choice

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A company uses the Expense management module. An employee submits an expense report that includes a hotel charge of 500 USD. The expense policy requires a receipt for any expense over 100 USD. The employee did not attach a receipt. The policy is configured with the 'Receipt required' rule and the 'Warn' action. What happens when the employee submits the report?

Question 51easymultiple choice

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An accounts payable clerk in Dynamics 365 Finance needs to record a vendor invoice that has no purchase order reference, and the invoice must be posted immediately to the vendor balance without going through a pending invoice approval. Which journal should the clerk use?

Question 52mediummulti select

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A company is configuring expense management in Dynamics 365 Finance. Controllers want to ensure that expense reports submitted by employees are routed to the correct approver and that certain categories require a receipt. Which two configurations should the functional consultant set up? (Choose two.)

Question 53mediummultiple choice

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A vendor invoice for 100 units of an item is entered for a purchase order line that has a confirmed quantity of 100 units, but the product receipt was posted for only 80 units. The invoice matching policy for the legal entity requires three-way matching and has 'Allow matching discrepancies' disabled. A user attempts to post the invoice. What happens when the user clicks Post?

Question 54easymultiple choice

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An accounts payable clerk must process a weekly payment run that pays all approved vendor invoices due within the next seven days while excluding invoices on payment hold. The clerk wants the system to generate the payment lines automatically rather than entering them manually. Which feature should the clerk use?

Question 55mediummultiple choice

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A legal firm uses Dynamics 365 Finance for accounts payable. When a new vendor is created, the firm must ensure that all future vendor invoices for that vendor are automatically eligible for 1099 reporting. Which configuration should you set on the vendor record?

Question 56mediummultiple choice

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A vendor invoice for $12,000 has a payment term of Net 30. The accounting manager wants the system to automatically apply a 2% early payment discount if the invoice is paid within 10 days. The discount is not currently being calculated on the payment proposal. You need to configure the system so the discount is calculated and posted correctly. What should you do first?

Question 57hardmultiple choice

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A company uses invoice matching on purchase orders. A vendor invoice for a purchase order has a quantity of 100 units at $10 each, but the product receipt shows 95 units received. The invoice matching policy is set to three-way matching with a quantity tolerance of 2%. The invoice is currently on hold. You need to determine why the invoice is on hold and what action will release it. What is the correct explanation?

Question 58mediummultiple choice

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A company wants employees to submit expense reports through the Expense Management workspace, and the controller must approve reports before reimbursement. Employees should only be able to select expense categories assigned to their policy. Which setup controls which expense categories an employee can choose on an expense report?

Question 59mediummultiple choice

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A legal firm uses Dynamics 365 Finance to reimburse attorneys for bar association dues and continuing legal education (CLE) courses. The firm's policy states that bar association dues must be reimbursed at 100%, while CLE courses require prior approval from a managing partner. The accounts payable manager needs to configure the system so that these rules are enforced automatically when expense reports are submitted. What should the manager configure?

Question 60mediummultiple choice

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A vendor invoice for $12,000 is posted in Legal entity A. The shared service center in Legal entity B must pay this invoice on behalf of Legal entity A using centralized payments. You configure the payment journal in Legal entity B and select the invoice for payment. Which configuration must be in place so that the accounting entries are recorded correctly in Legal entity A while the payment is processed from Legal entity B?

Question 61mediummultiple choice

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A legal firm processes vendor invoices centrally in its US legal entity (LE-US) but needs the related expense and payment to be recorded in the Canadian legal entity (LE-CA) to reduce intercompany reconciliation effort. The vendor is defined in both legal entities and the invoice has already been posted in LE-US. You need to configure the system so the invoice can be posted once in LE-US and automatically create the corresponding vendor invoice and liability in LE-CA. What should you do?

Question 62hardmultiple choice

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A company pays a vendor in a foreign currency. The invoice is posted in EUR, but the company's accounting currency is USD. When the payment is made, the exchange rate has changed, resulting in a realized gain or loss. You need to ensure that the realized gain or loss is automatically posted to the correct ledger account. What should you configure?

Question 63hardmultiple choice

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A manufacturing company uses purchase orders with three-way matching in Dynamics 365 Finance. A vendor invoice for 1,200 units arrives, but the related product receipt covers only 1,000 units. The matching policy is configured with a quantity tolerance of 0 percent. The accounts payable clerk tries to post the invoice and receives a matching discrepancy. The controller asks how to release the invoice for payment without weakening the matching policy for all future invoices. What should the clerk do?

Question 64easymultiple choice

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A retail company uses Dynamics 365 Finance to manage vendor payments. The AP manager notices that a vendor invoice for $10,000 was posted with a payment term of Net 30, but the vendor offers a 2% discount if paid within 10 days. The manager wants the system to automatically calculate and apply the discount when the payment proposal includes the invoice within the discount period. What should the manager configure on the vendor invoice?

Question 65mediummulti select

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A shared-services accounts payable team is preparing to run a weekly vendor payment proposal for 400 vendors. The team wants the proposal to consider only invoices that are due within the next ten days and only for vendors assigned to the 'Domestic' vendor group, and to exclude any invoice that is already in a payment hold. Which TWO parameters or filters must the team configure on the Vendor payment proposal to achieve this? (Choose two.)

Question 66mediummultiple choice

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A consulting firm uses Dynamics 365 Finance for expense management. Employees often submit expense reports that include both client-billable and internal expenses. The firm's policy requires that client-billable expenses be charged to a specific customer and project, while internal expenses are charged to a default department. The expense management administrator needs to ensure that employees can select the customer and project on expense lines when the expense is billable. What should the administrator configure?

Question 67easymultiple choice

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An accounts payable manager needs to pay several outstanding invoices from the same vendor in a single bank transfer instead of issuing a separate payment for each invoice. The vendor is already set up with a bank account and the invoices are due. What should the manager configure or use so the invoices are consolidated into one payment?

Question 68easymultiple choice

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An accounts payable clerk needs to record a vendor invoice that was received without a purchase order. The invoice is for office supplies and should be recorded directly against an expense account. Which transaction type should the clerk use in Dynamics 365 Finance?

Question 69hardmulti select

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A company uses Dynamics 365 Finance Accounts Payable. The AP manager is configuring the Vendor invoice matching policy to enforce two-way matching for a specific vendor. The manager needs to ensure that the system validates the invoice against the purchase order and prevents posting if the quantity or price variance exceeds the tolerance. Which two configurations must the manager set up to achieve this? (Choose two.)

Question 70hardmultiple choice

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A company reimburses employees for travel expenses through the Expense management module. The controller wants to ensure that when an employee submits an expense report, the system automatically routes it to the employee's cost center manager first and then to the corporate travel approver, without the employee choosing approvers. Which configuration should the functional consultant implement?

Question 71mediummultiple choice

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A company wants to charge a $15 wire transfer fee each time a vendor is paid by wire. The fee should be automatically added to the payment journal line when the wire payment method is used. What should you configure?

Question 72hardmulti select

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You are configuring the vendor invoice workflow to route invoices for approval based on the invoice amount. You need to ensure that invoices over $10,000 require approval by the accounts payable manager, while invoices under $10,000 are auto-approved. Which TWO configuration steps are required to achieve this? (Choose two.)

Question 73easymultiple choice

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A company wants to reimburse employees for out-of-pocket expenses. The expense management module is configured. An employee submits an expense report that includes a $50 meal expense. The company policy allows a maximum of $40 per meal. Which feature should the expense manager use to enforce this limit?

Question 74mediummultiple choice

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A vendor invoice is entered with a total of $10,000. The vendor offers a cash discount of 1% if paid within 10 days. The invoice is paid on day 8. The payment journal is created without manually adjusting the amount. What will be the result when the payment is posted?