NEW QUESTION NO: 10
You need all budget transfers to use a workflow except the specific members of the budget transfer rules.
When creating a budget transfer rule, what information is used to define when transfers are allowed?
A. the amount of the transfer
B. the employee requesting the transfer
C. the date of the transfer
D. the dimensions of the transfer
Answer: D

NEW QUESTION NO: 11
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: 12
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 planning process that you select must be set up for associated budget plans.
B. The individual preparing the budget plan needs appropriate permissions to create an associate budget plan.
C. The budget organization hierarchy must have at least two levels.
D. The budget plan priority must be selected on the budget plan creation.
Answer: B,C

NEW QUESTION NO: 13
You are the accounts payable manager in a European subsidiary of your company.
Your company purchases goods from a vendor that is not located in Europe. The vendor did not charge sales tax on the invoice, but the customs office sends an invoice because the goods crossed the border and the company declared them at customs.
What should you do?
A. Report sales tax exemption on the imported goods.
B. Report sales tax on the imported goods.
C. Report conditional sales tax on the imported goods.
D. Report withholding sales tax on the imported goods.
Answer: B

NEW QUESTION NO: 14
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: 15
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

NEW QUESTION NO: 16
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.
On January 10, you create an invoice of 1,000 USD, plus 250 USD in sales tax.

On February 15, the customer pays half of the invoice, 500 USD, plus 125 USD in sales tax.

On March 10, you report tax for February. The 125 USD is included in the sales tax payment.

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?
A. conditional sales taxes
B. sales tax exemption
C. standard sales tax
D. withholding sales tax
Answer: A

NEW QUESTION NO: 17
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. payment schedule
C. allocation rule
D. terms of payment
Answer: B

NEW QUESTION NO: 18
You need to create a recurring free text invoice template.
Which three Recurrence patterns are available in the Recurring invoices form on the customer record?
Each correct answer presents a complete solution.
A. monthly
B. weekly
C. yearly
D. quarterly
E. hourly
Answer: A,B,C
Explanation/Reference:
References:
https://technet.microsoft.com/en-us/library/hh209471.aspx

NEW QUESTION NO: 19
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. dimension
B. main accounts
C. company accounts
D. operating units
E. group dimension
Answer: A,C,E

NEW QUESTION NO: 20
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: 21
You are the director of finance.
You are starting to create budgets for the fiscal year and want to generate budget plans from source information.
Which three options can you choose from in Microsoft Dynamics AX Financials? Each correct answer presents a complete solution.
A. Generate budget plan from general ledger.
B. Generate budget plan from fixed assets.
C. Generate budget plan from forecast positions.
D. Generate budget plan from yearly sales.
E. Generate budget plan from yearly purchases.
Answer: A,B,C
Explanation/Reference:
References:
https://technet.microsoft.com/en-us/library/jj677325.aspx

NEW QUESTION NO: 22
Your company is using basic budgeting and is planning to configure budget control.
You need to identify the additional configuration that is needed.
Which three components will already be configured as part of the basic budgeting setup? Each correct answer presents part of the solution.
A. budget models
B. budget exchange rates
C. over budget permissions
D. budget cycles
E. documents and journals
Answer: A,B,D
Explanation/Reference:
References:
https://technet.microsoft.com/en-us/library/hh242128.aspx

NEW QUESTION NO: 23
Your company has decided to add five new vendors for purchasing, and you are responsible for configuring the vendors in the new system.
You want to group vendors by some specific values that are shared across multiple vendors, and you have identified vendor groups as a way to accomplish this.
On the vendor group form, which two specific values can be defined? Each correct answer presents a complete solution.
A. terms of payment
B. aging periods
C. matching policy
D. default tax group
Answer: A,D
Explanation/Reference:
References:
https://technet.microsoft.com/en-us/library/aa550420.aspx

NEW QUESTION NO: 24
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. standard sales tax
B. withholding sales tax
C. conditional sales taxes
D. sales tax exemption
Answer: B

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 Manual Payment journal.
B. Use Settlement.
C. Use Payment transfer.
D. Use Payment proposal.
Answer: D

NEW QUESTION NO: 26
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: 27
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: 28
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 payable
C. use-tax payable
D. sales-tax receivable
Answer: A,D

NEW QUESTION NO: 29
You are setting up sales tax on a sales order for your 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
A. Define "Origin" under "Calculation parameter" on the sales tax code as "Percentage on sales tax".
B. Define "Calculation method" under "Calculation parameter" on the sales tax code as "Whole amount".
C. Define three sales tax codes, one for each tax rate.
D. Define "Calculation method" under "Calculation parameter" on the sales tax code as "Interval".
Answer: D

NEW QUESTION NO: 30
You are the accounts receivable manager at your company. The company receives an advance of 10,000 USD against a sales order from the customer. The tax authorities require the company to report 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?
A. Report withholding sales tax against a prepayment voucher.
B. Report sales tax on prepayments against a prepayment voucher.
C. Report sales tax exemption against a prepayment voucher.
D. Report conditional sales tax against a prepayment voucher.
Answer: B