Implement and Manage Accounts Payable and Expenses

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?

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?

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

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.)

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

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

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.)

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

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.)

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?

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?

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?

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?

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?

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?

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?

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

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?

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

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?

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?

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?

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?

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.)

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?

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?

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

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

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?

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?

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?

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?

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

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?

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?

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?

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?

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?

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?

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?

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?

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?

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?

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?

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?