Correct Answer: ABC

Reference: https://www.columbusglobal.com/en-us/blog/how-to-purchase-a-fixed-asset-through-a-po-with-dynamics-365

Correct Answer: A

Correct Answer: ABD

Correct Answer: A

Reference: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/budget-planning-overview-configuration

Correct Answer: D

Reference: https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/financial-period-close-workspace

Correct Answer: BC

Group is mandatory and Fixed Asset Number either manual or via number sequence. But Name is never mandatory, but optional, try your self.

Correct Answer: BCD

Explanation:

Analyze Actual Amounts Versus Budgeted Amounts

As a part of gathering, analyzing, and sharing your company data, you view actual amounts compared to budgeted amounts for all accounts and for several periods.

D: To analyze budgeted amounts, you must first create general ledger (G/L) budgets.

View a G/L budget

In a budget with dimensions, you can filter the entries and see specific budgets.

Choose the Search icon, enter G/L Budgets, then choose the related link.

On the G/L Budgets page, open the budget you want to view.

At the top of the page, fill in the fields necessary to define what is shown. Hover over a field to read a short description.

View actual and budgeted amounts for all accounts

You can view general ledger budgets and compare them with actual figures in several areas of Business Central.

Choose the Search icon, enter Chart of Accounts, then choose the related link.

On the Chart of Accounts page, choose the G/L Balance/Budget action.

On the Options FastTab, fill in the fields as necessary to define what is displayed in the table.

Hover over a field on the table to read a short description about the displayed amount.

B: To view actual and budgeted amounts for several periods

Instead of viewing the actual and budgeted amounts for all accounts within a single period, you can view a number of periods for a single account.

Choose the Search icon, enter Chart of Accounts, then choose the related link.

On the Chart of Accounts page, select the relevant general ledger account, then choose the G/L Account Balance/Budget action.

On the Options FastTab, fill in the fields as necessary to define what is displayed in the table.

On the Lines FastTab, hover over a field on the table to read a short description about the displayed amount.

C: Actual versus budget report (BudgetBalancesActuals)

The Actual versus budget report displays budget balances for the original budget, revised budget, actual expenditures, and variances. The original budget amounts are the sum of expense and revenue budget amounts. The revised budget

amounts are the sum of original budget, revisions, transfers, and carry-forward amounts. The actual expenditures are the sum of the debits and credits that were posted for the selected financial dimension values. Variances are the differences

between actual and revised budget amounts, expressed as amounts and percentages. The report is grouped by budget model and dimension values.

Reference:

https://learn.microsoft.com/en-us/dynamics365/business-central/bi-how-analyze-actual-versus-budget

https://learn.microsoft.com/en-us/dynamicsax-2012/appuser-itpro/actual-versus-budget-report-budgetbalancesactuals

Correct Answer:

Box 1: Humongous Insurance

Taxes

1.

As part of the spinoff to a subsidiary, Humongous Insurance's subsidiaries taxes must be changed from US government rates to Chinese government rates.

2.

Humongous Insurance's subsidiary must track use taxes that are not claimed or reported to the Chinese tax agency.

In the Legal entity for intercompany tax posting field, select whether to post intercompany tax amounts to the legal entity where the transaction originates or to the legal entity where the intercompany transactions are posted to. Use the

information in the following table to decide which legal entity to select.

Destination - Select this option if your organization uses U.S. sales and use tax. (This is your only option if the Apply U.S. taxation rules option is selected in the

General ledger parameters form.)

Sales tax amounts for intercompany transactions are posted to the legal entity that the expense or revenue is being distributed to.

Source - Sales tax amounts for intercompany transactions are posted to the legal entity where the payable to the vendor, the receivable to the customer, or a bank account is recorded.

Note:

Intercompany transaction - A transaction between legal entities that are part of the same organization that consolidates the accounts of the legal entities.

Destination legal entity - The legal entity that the expense or revenue is being distributed to, or a bank account.

Source legal entity - The legal entity where the payable to the vendor or the receivable to the customer is recorded.

Box 2: Humongous Insurance

Box 3: Humongous Insurance subsidiary

Box 4: Humongous Insurance

Reference:

https://docs.microsoft.com/en-us/dynamicsax-2012/appuser-itpro/posting-sales-tax-amounts-for-intercompany-transactions

Correct Answer:

Correct Answer:

Box 1: Payment reference Deposit slip and bridged transactions to address bank/card/payment provider fees in bank statement and bank reconciliation in Microsoft Dynamics 365 Finance and Operations

Steps Create general journal

Load bridge transactions Create additional journal line and provide the account for fees and use offset as bank as previous line

* enable deposit slip on both lines and use same payment reference after posting journal use functions to prepare deposit slip after generating deposit slip check bank statement and bank transactions

Box 2: Transaction type Create transactions for entries, such as fees and interest, that are on the bank statement but that are not recorded in Finance. Enter the Bank transaction type and appropriate financial dimensions.

Reference: https://community.dynamics.com/ax/b/happyd365fo/posts/deposit-slip-and-bridged-transactions-to-address-bank-card-oayment-provider-fees-in-bank-statement-and-bank-reconciliation-in-microsoft-dynamics-365-finance-and-operations https://docs.microsoft.com/en-us/dynamics365/finance/cash-bank-management/reconcile-bank-account