NEW QUESTION NO: 20
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?
A. sales tax exemption
B. conditional sales taxes
C. standard sales tax
D. withholding sales tax
Answer: D

NEW QUESTION NO: 21
A controller wants to run a Trial Balance report by main account and department.
What does the controller need to set up so that Microsoft Dynamics AX Financials will allow this selection during the generation of the Trial Balance report?
A. advanced rule structures
B. derived financial hierarchies
C. financial dimension sets
D. account structures
Answer: C
Explanation/Reference:
References:
https://technet.microsoft.com/en-us/library/aa571570.aspx

NEW QUESTION NO: 22
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?
A. allocate across dimensions
B. allocate across periods
C. enter recurrence
D. transfer balances
Answer: D

NEW QUESTION NO: 23
You need to analyze the maturity of customer accounts and vendor accounts, based on a date that you enter. The date entered, together with the Unit and Interval information defined, will be used to calculate and view the transactions.
What should you do?
A. Set up Aging period definition.
B. Set up Customer pool.
C. Set up Aging snapshot.
D. Set up interest codes.
Answer: A
Explanation/Reference:
References:
https://technet.microsoft.com/en-us/library/hh209419.aspx

NEW QUESTION NO: 24
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 from 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.
A. Go into the check reversal journal, and post the check reversal.
B. From the Settle transactions screen on the vendor record, select the invoice and payment, and post it.
C. From the checks form, select to reverse the check.
D. Create a new vendor payment journal and add a reversing entry.
Answer: A,C
Explanation/Reference:
References:
https://ax.help.dynamics.com/en/wiki/reverse-a-vendor-payment/

NEW QUESTION NO: 25
You are processing a customer payment and want to generate a payment line based on due date so that you can search the invoice lines that meet selected search criteria.
What should you do?
A. Use Payment proposal.
B. Use Payment transfer.
C. Use Settlement.
D. Use Manual Payment journal.
Answer: A

NEW QUESTION NO: 26
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?
A. Generate a collection letter note.
B. Generate a report for customer transactions.
C. Generate a customer accounts statement.
D. Generate an internal accounts statement.
Answer: A

NEW QUESTION NO: 27
Your company is considering tracking budgets by Account, Department, and Cost Center dimensions.
There is a requirement to prevent exceeding the budgeted amounts for each Department but not for each Cost Center.
Which three actions must be performed to allow budget control for Account and Departments, and basic budgeting by Account, Department, and Cost Center, before budget control is enabled? Each correct answer presents part of the solution.
A. Select only "MainAccount" and "Department" as budgeting dimensions.
B. Select the main accounts for budget control.
C. Select only "MainAccount" and "Department" as budget control dimensions.
D. Select only "Department" as a budget control dimension.
E. Select only "MainAccount", "Department", and "CostCenter" as budgeting dimensions.
Answer: B,D,E
Explanation/Reference:
References:
https://technet.microsoft.com/en-us/library/hh242453.aspx

NEW QUESTION NO: 28
You are creating a new budget plan and want to allocate the budget plan lines from the source budget plan scenario in the parent budget plan to the destination scenario in the associated budget plans.
Which allocation method should you use?
A. Allocate across periods
B. Use ledger allocation rule
C. Distribute
D. Aggregate
Answer: C
Explanation/Reference:
References:
https://ax.help.dynamics.com/en/wiki/budget-planning-data-allocation/

NEW QUESTION NO: 29
A new customer requests to pay their bills in installments, and your company agrees to this request.
You need to set up the customer record so that the payments can be processed correctly.
What should be added to the customer record?
A. method of payment
B. allocation rule
C. payment schedule
D. terms of payment
Answer: C

NEW QUESTION NO: 30
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.
A. settlement account
B. sales-tax receivable
C. sales-tax payable
D. use-tax payable
Answer: A,B

NEW QUESTION NO: 31
You are an accounts 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?
A. two-way matching
B. charges matching
C. not required
D. three-way matching
Answer: D
Explanation/Reference:
References:
https://technet.microsoft.com/en-us/library/hh242852.aspx

NEW QUESTION NO: 32
You are setting up an allocation rules and distributing amounts based on revenue dollars.
You need to share the cost of corporate advertising expenses across all departments and base each department's sales in proportion to the total sales of all departments.
Which allocation should you choose?
A. Fixed Percentage
B. Equally
C. Fixed Weight
D. Basis
Answer: D
Explanation/Reference:
References:
https://technet.microsoft.com/en-us/library/ff395364.aspx

NEW QUESTION NO: 33
You are an accounts payable manager.
You receive a rent invoice from a vendor for the next quarter. The total amount of the invoice is 300 USD.
If you directly enter the amount, all of the charges will be allocated for the same period. However, you want to post the invoice in each appropriate period.
What should you create?
A. Voucher template
B. Periodic journal
C. Ledger allocation rules
D. Ledger accruals
Answer: D
Explanation/Reference:
References:
https://ax.help.dynamics.com/en/wiki/accruals-overview/

NEW QUESTION NO: 34
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 completed? Each correct answer presents part of the solution.
A. The budget organization hierarchy must have at least two levels.
B. The budget planning process that you select must be set up for associated budget plans.
C. The individual preparing the budget plan needs appropriate permissions to create an associate budget plan.
D. The budget plan priority must be selected on the budget plan creation.
Answer: A,C

NEW QUESTION NO: 35
When generating a bank statement report, you notice entries for Received checks and Issued checks.
These entries are all unidentified.
You want to identify the checks' transactions simultaneously by using the bank statement report.
Where should you define the default accounts for bank transactions of unidentified checks?
A. on the Reconciliation rules form
B. on the Bank transaction types form
C. on the Bank accounts form
D. on the Bank transaction groups form
Answer: B
Explanation/Reference:
References:
https://technet.microsoft.com/en-us/library/aa619635.aspx

NEW QUESTION NO: 36
You need to consolidate multiple subsidiary company transactions into the consolidation company in Microsoft Dynamics AX Financials.
You need to modify the financial dimensions at the time of consolidation, such as including the originating company code on each transaction.
When performing a consolidation in Dynamics AX, which three specifications can be selected for each dimension? Each correct answer presents a complete solution.
A. company accounts
B. dimension
C. group dimension
D. main accounts
E. operating units
Answer: A,B,C

NEW QUESTION NO: 37
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?
A. Waive, reinstate, or reverse interest and fees.
B. Create write-off transactions.
C. Process non-sufficient funds (NSF) payments.
D. Set up interest adjustments.
Answer: C
Explanation/Reference:
References:
https://technet.microsoft.com/en-us/library/aa634902.aspx

NEW QUESTION NO: 38
Your 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?
A. Enable the "Use for financial consolidation process" check box in both the consolidated and subsidiary companies.
B. Enable the "Use for financial consolidation process" check box in the subsidiary company.
C. Enable the "Use for financial elimination process" check box in the consolidated company.
D. Enable the "Use for financial consolidation process" check box for the consolidated company.
Answer: D
Explanation/Reference:
References:
https://technet.microsoft.com/en-us/library/aa549110.aspx

NEW QUESTION NO: 39
An organization has a policy of charging the same depreciation amount for the fixed asset in each depreciation period.
You need to configure depreciation according to this policy.
Which depreciation method should you use?
A. straight line service life
B. factor
C. consumption
D. reducing balance
Answer: A

NEW QUESTION NO: 40
You are an accounts receivable manager. Your company levies a fine with a high-interest premium on a customer's overdue amount. The customer disputes this fine and succeeds.
You need to waive the file in Microsoft Dynamics AX Financials.
What should you do?
A. Print/Post Interest notes.
B. Create an interest adjustment.
C. Print/Post Collection letter notes.
D. Generate a customer account statement.
Answer: A
Explanation/Reference:
References:
https://technet.microsoft.com/en-us/library/hh242842.aspx