You need to create a new fixed asset and assign a depreciation profile. You want this fixed asset to be depreciated by the same percentage in each depreciation period. Which depreciation method should be set in the depreciation profile?

You are setting up a sales tax for your customer. You need to define the ledger account 100001 of posting type "Sales tax" on the ledger posting group for the customer. Which account group should you choose

You are an account manager. At the end of each month when you close an account, you are required to make the same entry with the same account numbers and currency amounts. You want to make the process quicker so that each month, you process the journal and post it with the appropriate ac-counting date. What should you create?

What are the three advanced collection management tasks that are performed in Microsoft Dynamics AX Financials to manage collections? Each correct answer presents the part of the solution.

You are setting up taxes on customer invoices. You need to report a sales tax on the invoice, as and when it is settled, to the tax authorities. When the customer settles the invoice with the second payment of 625 USD, you report the remaining sales tax. What should you set up in this situation?

Your company has decided to add five new vendors for purchasing and you are responsible for confi-guring the vendors in the new system. You want to group vendors by some specific values that are shared across multiple vendors and you have indentified vender groups on the vendor group from, which two specific values can be defined? Each correct answer presents a complete solution.

You are an accounts payable clerk. During a check run, Microsoft Dynamics AX Financials generates a check and posts the payment journal. The check is sent to the vendor, but you then learn form the vendor that the check has not been received. In order to reverse the check payment, which two actions should you perform? Each correct answer presents part of the solution.

Your company receives several invoices on which the sales lax amount differs from what Microsoft Dynamics AX Financials calculates automatically. To make the sales tax amounts match the invoices, you need to revise the sales tax amount on a transaction before posting. What are the three types of revisions that you can perform? Each correct answer presents part of the solution

You are creating a budget register entry. You notice that a manual budget reservation will exceed the budget. What should you do within the budget register entry to satisfy the over-budget condition?

You are the finance manager at your company, and you are configuring the bank module. Your primary concern is reviewing processes before posting. Aside from workflow, which two processes are in the cash and bank parameters for an unposted journal to be created before posting? Each correct answer presents a complete solution.

You are the director of finance. You are starting to create budgets for the fiscal year and want to generate budget plans from prior year expenses. However, this year, you know your expenses will be more than last Which field should you set in the generate budget plan from the general ledger form to account for this increase in budget?

You are an accountant. You are creating your travel expense budget for the fiscal year and want to enter the same budget amount for each month On the budget register entry, which option should you choose?

You are creating a parent budget plan that will consist of budget amounts for all departments. You then need to create associate budget plans and link them to the parent budget. Before you can create the associate budget plans, which two steps must be complete? Each correct answer presents part of the solution

An accountant needs to define which main accounts and financial dimensions can t>e used together when entering journals and transactions The accountant sets up the chart of accounts and creates the financial dimensions What are two possible actions the accountant can perform next to achieve the goal? Each correct answer presents a complete solution.

You are an accounts receivable manager You have an agreement with a customer that they will pay installments on the 25th day of the month every three months. On the customer terms of payment, which three settings do you need to specify? Each correct answer presents part of the solution

You are an accounts payable manager Your company buys office supplies from an out-of-state vendor. The vendor charges 100.00 USD for the supplies and no tax. The company may still owe taxes to the sales tax authority in its own state. You need to define the ledger account to manage these transactions. Which account group should you choose?

Your company creates a policy that requires invoice matching information on documents. Which three types of documents are used for invoice matching? Each correct answer presents part of the solution

You are setting up the budgeting module for your employer and are given a list of budget codes needed in the system. You want to create a "Preliminary" budget code but are unable to select it on the "budget Codes" form. Which configuration key enables "Preliminary" and "Apportionments" budget types?

You are the accounts receivable manager at you company. The company receives an advance of 10,000 USD against a sales order from the customer. The tax authorities require the company to re-port the sales tax on the advance amount, even though the sales have not been made. You need to ensure that this requirement is fulfilled. What should you do?

You are implementing fixed assets for your company. Your company buys a machine for 100.000 USD and recognizes 10,000 USD of depreciation per year over the following ten years. At that time, the machine is not only fully depreciated, but the company is eliminating the machine without receiving any payment in return. What are two available methods to eliminate a fixed asset? Each correct answer presents a complete solution.

You are a credit and collections manager. You receive a check of 20,000 USD from a customer against overdue invoices. However, the bank informs you that the customer funds do not exist, and the check does not clear. You need to cancel the payment and charge the customer for this occurrence. What should you do?

You are an accountant responsible for vendor payment processing. In the role of controller, you want to post a transaction of 5,000 USD that the company paid for audio-visual equipment to a vendor using a general journal entry. You select account type as Vendor and select the vendor account. Which two options are a valid offset account type on the journal line? Each correct answer presents a complete solution

You are the credit and collections manager at your company. You set up an aging period definition based on your company's standard collections terms of 0, 90, and 180 days. Earlier this week, you had a telephone call with the customer about the invoices on their account that are overdue. During the call, the customer promised to pay the dues. Which three actions should you perform to manage the collection process in the system? Each correct answer presents part of the solution.

You decide that department managers must submit budget plans to you each quarter. You need to use the budget planning template wizard to generate a budget planning template that each department submit to you.What are three prerequisites for creating a template for budget plan worksheets? Each correct answer presents part of the solution.

You are creating a project budget for the year and are working on the different types of projects to base the project on. Project budgets allow projections based only on which three criteria? Each correct answer presents a complete solution.

You are creating a new budget and realize that you need to allocate a certain percentage of the total budget amount across defined periods. In order to do this on the budget register entry, you need to define the percentage that will be allocated in each period. What should you set up in order to achieve this goal?

You are a credit manager. You want to set up a process in your system to send customers a notification of their balances due if the balance fails to clear within the due date. You also need to apply additional fees to charge the customer on the balance due as per your company policies. What should you do?

Your company wants to establish a team to manage customer payments. You need to set up employees and contracts, and assign customer pools to them so that the company can work with customers to make sure that payments are collected in a timely manner. What should you do?

You are setting up a system to process supplier taxes. You want to set up the tax so that a user can deduct the tax from a supplier invoice and report the deducted tax to tax authorities. Which tax type should you set up?

You are setting up sales tax on sales order for you customer. You need to define the setup so that it calculates as follows:

-The taxable amount is divided into parts each of which falls into a range that has a specific sales tax rate

-The part of the amount that falls into a given range is taxed according to the tax rate for that range.

-The sales tax is the sum of the tax amounts that are calculated for each range. For example

@30% from 0 to 100 USD

@20% from 101 to 1000 USD

@10% from 1001 USD and above

Your bank requires that you send prenotes (zero dollar transactions) to the bank to verify data. You need to set up the cash and back management module to allow the creation of prenotes. Which two actions should you perform? Each correct answer presents part of the solution.

You are an accounting manager, your company has a new customer, A ledger account must be set up to record the sales tax liability and payments made to the taxing authority in the customer’s specific region automatically. Which two account groups should you choose for these ledger accounts? Each correct answer presents part of the solution.

You are a credit and collections manager.You need to group all customers who are based in a single city and have balances greater than 10,000 USD so that the collections process is streamlined for the collections agent. What should you do?

You are an account payable clerk. When creating purchase order invoices, your company has a policy that you must match the purchase order, product receipt quantities, and amounts to the vendor invoice. In the Accounts Payable Parameters, which line-matching policy should you choose?

our company decides to use Microsoft Dynamics AX Financials for consolidated financial reporting instead of using Management Reporter. You need to configure a new legal entity for the consolidated financial transactions. What must you do to enable the subsidiary company's transactions to consolidate into the new legal entity that you are creating?