Microsoft Dynamics 365 Finance Functional Consultant

 

• Candidates for this exam analyze business requirements and translate those requirements into fully realized business processes and solutions that implement industry recommended practices. They have a fundamental understanding of accounting principles and a deeper understanding of financial operations as they relate to core finance, manufacturing, retail, and supply chain management operations.

• Candidates for this exam typically specialize in one or more feature sets of Dynamics 365 Finance including core finance, general ledger, tax, cost accounting, cost management, fixed assets, budgeting, revenue recognition, consolidation and elimination, credit and collections, cash and bank management, and expense management. They understand the relationships between finance and manufacturing, retail, and supply chain management.

Set up and configure financial management (40–45%) Define and configure the chart of accounts

• Describe use cases for financial dimensions
• Define and configure the chart of accounts and main accounts
• Describe use cases for main accounts categories, ledger account aliases, and balance control accounts
• Configure financial dimensions and dimension sets
• Configure legal entity overrides for financial dimensions and main accounts
• Create and configure account structures and advanced rules

Configure ledgers and currencies

• Construct fiscal calendars, years, and periods
• Configure the ledger
• Describe and configure batch transfer rules
• Set up currencies and conversions for a legal entity
• Manually enter currency exchange rates

Implement and manage journals

• Describe options for implementing voucher numbers in journals
• Configure journal names
• Set up journal controls and posting restriction rules
• Describe and configure journal approvals
• Create voucher templates
• Describe use cases for periodic journals and deferrals
• Configure and apply accrual schemes
• Set up intercompany accounting
• Create templates to edit journals in Microsoft Excel
• Perform reverse entries

Implement and manage cash and bank

• Create and maintain bank groups and bank accounts
• Describe electronic payment formats
• Configure and process bank reconciliations including advanced bank reconciliations
• Configure cash flow reports

Implement cost accounting and cost management

• Describe cost accounting processes and terms
• Describe and configure the costing sheet and indirect costs
• Configure cost groups and cost categories
• Implement inventory costing versions
• Differentiate between inventory costing methodologies
• Configure item model groups
• Configure item groups and posting profiles
• Perform inventory closing and adjustment processes

Perform periodic processes

• Describe financial period workspaces and closing schedules
• Define and demonstrate periodic closing processes and end-of-year processes
• Perform financial consolidation and elimination processes
• Describe use cases and options for performing allocations
• Implement foreign currency revaluation processes
• Create and manage financial reports including modifying row, column, and report definitions

Configure, collect, and report taxes

• Configure tax groups, tax codes, settlement periods, and jurisdiction
• Configure tax ledger posting groups
• Prepare periodic tax filings

Implement accounts receivable, credit, collections, and revenue recognition (15–20%) Implement and manage accounts receivable

• Set up customers and customer posting profiles
• Configure and process free text invoices
• Process orders, invoices, payments, and credit memos
• Configure customer payment setup
• Configure accounts receivable charges
• Configure bank accounts for customers
• Manage customer holds

Manage credit and collections

• Configure credit management processes
• Configure collections management processes
• Manage delinquent customers
• Prepare and send customer account statements
• Manage customer credit limits and credit holds
• Set up and process collection letters and interest notes

Configure revenue recognition

• Configure journals and parameters for revenue recognition
• Implement revenue schedules
• Enter and process revenue recognition transactions

Implement and manage accounts payable and expenses (10–15%) Implement and manage accounts payable

• Configure invoice validation policies
• Set up vendors and vendor posting profiles
• Process orders, invoices, and payments
• Configure vendor payments including positive pay and payment calendars
• Configure accounts payable charges and apply changes to an invoice
• Configure bank accounts for vendors
• Configure accounts payable journal approval settings
• Map expense categories to main accounts

Configure and use expense management

• Configure expense management including categories, per diem options, mileage expenses, and personal expenses
• Configure workflows for expense management
• Describe use cases for expense management policies and the audit workbench
• Describe and configure credit card processing
• Create and manage expense reports
• Configure and manage cash advance settings
• Create and manage travel requisitions

Manage budgeting (10–15%) Implement basic budgeting

• Configure budgeting components including budget models, codes, allocation terms, and transfer rules
• Create and configure registry entries
• Compare budgeted values with actual values
• Implement budget register workflows

Configure and manage budget controls

• Configure budget controls including cycle time spans, budget parameters, budget fund availability options, budget control rules and groups, and over-budget permissions
• Create and configure registry entries
• Implement budget workflows
• Perform budget checks on documents and journals

Configure and process budget plans

• Define a budget planning process
• Create or generate a budget plan
• Create a budget plan by using scenarios, stages, allocation stages, stage allocations, and templates
• Create a budget plan template

Manage fixed assets (10–15%) Implement and manage fixed assets

• Create fixed assets groups and other fixes asset attributes
• Configure fixed asset posting profiles
• Configure fixed asset parameters
• Describe the fixed assets lifecycle
• Configure fixed asset books
• Select depreciation methods and configure depreciation
• Create and manage fixed assets

Process fixed asset transactions

• Enable integration with purchasing and free text invoices
• Acquire, depreciate, and dispose of fixed assets
• Create fixed asset budgets and transfer the budgets to the budgeting module