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Correct Answer for the Question – What should you do to accomplish this task? is given below It is a new fiscal year.You want to set all profit and loss accounts to zero.On the general ledger parameters page, under fiscal year close, what should you do to accomplish this task?References: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/year-end-close Delete close of year transactions … Read more
Correct Answer for the Question – Which configuration controls the payment of sales tax to the new state? is given below Your company has acquired customers in a new state. The company must collect sales tax on the product sales to those customers.As bookkeeper, you need to configure Microsoft Dynamics 365 for Finance and Operations to … Read more
Correct Answer for the Question – What information will be entered into the books for these trucks? is given below Your company has purchased 10 new trucks for $20,000 each for the service department. The controller has determined that the trucks will be sold after 10 years with a salvage value of about 10%. The county … Read more
Correct Answer for the Question – Which action should you perform? is given below A vendor contacts you about an unpaid invoice. You verify that the check was printed and mailed one month ago. Because the check has not been received by the vendor, you need to reissue a check to the vendor.Which action should you … Read more
Correct Answer for the Question – What are the two required items? is given below You are training a new employee. They need to know the items that are required for posting an invoice register.What are the two required items? Each correct answer presents part of the solution. (Choose two.)References: https://technet.microsoft.com/en-us/library/aa570120.aspx Pending vendor invoice Vendor offset … Read more
Correct Answer for the Question – Which two tasks should be completed to make this configuration? is given below The accounting manager for your company has been manually processing payments to sales tax authorities for the past several years. You recently learned that Microsoft Dynamics 365 for Finance and Operations can automate much of those tasks.You … Read more
Correct Answer for the Question – Which two books should you create in this depreciation profile? is given below Your company just purchased some highly advanced machines to be used in the manufacturing plant. Collectively, the equipment cost $5 million with a useful life of 10 years. At that time, they will be sold with an … Read more
Correct Answer for the Question – What are two actions the bookkeeper should take to properly configure Microsoft Dynamics 365 for Finance and Operations? is given below A company needs to make wire transfers for payments to a foreign customer. The controller also wants to keep track of the wire transfer fees for charge-back to the … Read more
Correct Answer for the Question – Which object in Microsoft Dynamics 365 for Finance and Operations should be modified to make this change? is given below The controller of your company has received notice from the taxing agency of another state that the sales tax rate on the company’s products sold in that state will increase … Read more
Correct Answer for the Question – Which special parameters will be needed for these special layout checks? is given below Your company will be paying out annual bonuses next month. The controller has asked you to set up a special check layout for these bonus checks. The company normally does not use pre-printed checks. These checks … Read more