MB-310: Microsoft Dynamics 365 for Finance and Operations, Financials Course

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MB-310: Microsoft Dynamics 365 for Finance and Operations, Financials Course

Overview

Organizations use Dynamics 365 for Finance and Operations to elevate their financial performance by increasing profitability, optimizing workforce productivity, reducing operational expenses, adapting quickly to requirement changes, and streamlining asset
management.

This course discusses how to configure and use essential components of financial management in Dynamics 365 for Finance and Operations.

Prerequisites

Basic understanding of ERP, CRM concepts.

Related Certifications

Microsoft Certified: Dynamics 365 for Finance and Operations, Financials Functional Consultant Associate

Who should attend

A Dynamics 365 for Finance and Operations Functional Consultant is responsible for performing discovery, capturing requirements, engaging subject matter experts and stakeholders, translating requirements, and configuring the solution and applications. The
Functional Consultant implements a solution using out of the box capabilities, codeless extensibility, application and service integrations.

At Course Completion

Course Outline

MB-310T01: Configure and use essential components of financial management in Dynamics 365 for Finance and Operations

Module 1: Financial Management
In this module you will learn some of benefits of financial management of Dynamics 365 for Finance and Operations.
Lessons
Benefits of financial management
Financial management
Module summary
You became familiar with modules in Finance and Operations related to financial management and their overall features and functionality.
Module 2: Configure Currencies
One of the first and most important steps of implementing financial management in Dynamics 365 for Finance and Operations is currency setup. Currency setup is a required step in the configuration of the system and is used to record financial transactions.
This module explains currency management in Finance and Operations.
Lessons
Introduction
Setup legal entity currencies and conversions
Configure and import currency exchange rates
Practice lab
Module summary
You have now learned about different types of currencies in Finance and Operations. You are also familiar with the concept of triangulation currency, how to set up legal entity currencies and conversions.
In the video, you learned how to configure exchange rate providers and use them to import exchange rates into an exchange rate type.
Module 3: Create fiscal calendars, years and periods
Before posting transactions, a new fiscal year must be divided into periods. This is because transactions cannot post unless a period is created for the posting date and shared across multiple legal entities. A benefit of sharing fiscal calendars is that
this supports multiple fiscal calendars for each legal entity. The fiscal year in Finance and Operations can be set to any length and divided into any number of periods. This module explains fiscal and ledger calendar management in Finance and Operations.
Lessons
Introduction
Create fiscal calendars, years and periods
Create date intervals
Practice lab
Module summary
In this module, you learned how to:
Differentiate between ledger and fiscal calendars.
Configure and set up fiscal calendars, years, and periods.
Create and use date intervals.
Module 4: Configure Chart of Accounts
A chart of accounts is a set of main accounts in Finance and Operations that captures financial information upon posting a journal. Each account is assigned an account number as a unique identifier.
Lessons
Introduction
Define and configure the chart of accounts
Define and configure the financial dimensions
Define and configure account structures and rules
Practice labs
Module summary
In this module, you learned how to:
Identify the required components for the chart of accounts.
Define and configure the chart of accounts.
Define and configure the financial dimensions and dimension sets.
Configure chart of accounts, main accounts, categories, templates, ledger account alias, and balance control.
Configure account structures and advanced rules.
Module 5: Configure Ledger and Journals
A journal is a worksheet that you can use before you manually enter postings into the system. When you set them up correctly, journals allow you to quickly and efficiently manage posting. To use a journal, you must have a journal name, and should complete
the configuration of the ledger, journal, and posting of the General ledger module. By using the General ledger journal directly or via the General ledger processing workspace, you can perform daily activities as someone who is assigned proper security
role to access the General ledger. A journal name gives financial leaders the capability to control data entry validation and restrict posting of a journal name for users differently.
Lessons
Journals and their setup
Configure ledger and journal setup
User journals
Practice lab
Module summary
In this module, you learned about:
Different types of journals and their setup.
How to configure ledger and posting setup.
How to configure and use journals.
Module 6: Configure Cash and Bank Management
In Dynamics 365 for Finance and Operations, organizations use the Cash and bank management module to create and maintain bank accounts. The Bank account table contains a record for each bank account. Each record contains bank account information, such as
the following: - Registration number and account number - Address - Other contact information - Currency - Check setup - Main account for posting Finance and Operations uses this information to process all bank transactions, such as payments and deposits.
Lessons
Introduction
Bank transaction types and groups
Setup cash and bank management parameters
Configure banks and bank checks
Deposit and refund checks
Cash flow
Practice Labs
Module summary
In this module, you learned how to:
Create and configure banks.
Create and configure bank layouts.
Configure cash and bank management parameters.
Set up vendor and customer banks.
Configure cash flow forecasts and reports.
Module 7: Use Cash and Bank Management
This module covers the main procedures in the Cash and bank management module in Finance and Operations. You learn how to work with cash and bank management workspaces such as Bank management and Cash overviews. You also learned about the processes and
procedures for cash and bank management, like how to make deposits and cancel payments (deposits). Finance and Operations provides functionality to manage check payments, as well as procedures for resolving special situations with checks. You can delete,
refund, and void checks, in addition to generating and issuing checks according to company specifications. Because Finance and Operations records all financial transactions, companies can use the bank reconciliation function to match internal company
records of transactions against bank statements.
Lessons
Make deposits and perform payment reversals
Use cash and bank management workspaces
Practice Labs
Module summary
In this module, you learned how to:
Work with cash and bank management processes.
Use cash and bank management workspaces.
Make deposits.
Cancel payments.
Module 8: Configure Letters of Credit and Guarantees
You now have learned what are the bank letters and how to configure letters of credit in order to create bank documents that are commonly used for the purchase and sale of goods across international borders and letters of guarantees where a bank agrees to
pay a specific amount of money to a person if one of the bank's customers defaults on a payment or obligation to that person.
Lessons
Introduction
Configure letters of credit
Configure letters of guarantee
Module summary
You will understand bank letters and letters of credit and guarantee.
Module 9: Perform Daily Procedures
Every manual posting entered in Finance and Operations is entered through a journal. A journal is a type of worksheet where entries do not post immediately. You can review, change, and verify completed journals until they are ready for posting. A voucher
template is a voucher that can be used as the basis for future vouchers in other journal entries. You can use voucher templates with a general journal or any of the financial sub ledger journals such as Accounts payable and Accounts receivable journals.
You can set up restrictions on the company, account type, and segment values.
Lessons
Learn about general ledger processes
Create voucher templates
Setup journal controls
Practice Lab
Module summary
You have now learned how to process daily activities in general ledger and use journal control to apply rules during data entry.
You worked with balance control accounts to view the balances of either banks or liquidity accounts. You also learned that you can only use the balance control prior to posting to ensure that the entries are correct.
You learned how to benefit from voucher templates for Amount, which is simply copying the exact amount of the template as new lines, or Percent, which converts the amounts in the voucher into percentage factors. This allows any amount to be applied when
the voucher template is selected.
Module 10: Intercompany Accounting
Intercompany accounting can help organizations by providing a single-entry point for transactions that must be recorded to multiple companies. Making transactions from a single company saves data entry time and helps provide a guarantee that transactions
affecting multiple companies are recorded in each company. Finance and Operations also helps trace the intercompany entries through the system. It has the functionality that is required by most companies that process intercompany transactions. This
includes the ability to efficiently record intercompany sales orders, purchase orders, and cash disbursements.
Lessons
Setup and use intercompany accounting
Practice Lab
Module Summary
You will be able to set up and use intercompany accounting.
Module 11: Configure Ledger Allocations and Accruals
Finance and Operations provides the capabilities to support accrual schemes.
Lessons
Introduction
Configure and apply accrual schemes
Configure ledger allocation rules
Practice labs
Module summary
You will have learned how to configure and use allocation rules, and how to configure and use accrual schemes.
Finance and Operations provides the following capabilities to support this process:
Manually allocate transaction amounts by using the split action in accounting distributions, or by applying financial dimension default templates to a document.
Automatically allocate transactions amounts based on allocation terms defined on individually on the main account. Allocation account entries will be generated for each journal based on the percentage and destination ledger account when an accounting entry
meets the criteria defined as the source ledger account.
Automatically allocate ledger balances or fixed amounts based on ledger allocation rules. The ledger allocation rules are processed on a periodic basis using allocation journals.
Module 12: Configure Sales Tax
The requirements for tax calculation and tax reporting differ significantly for different countries or regions. Therefore, the Tax module of Dynamics 365 for Finance and Operations is extremely comprehensive.
Lessons
Understand tax engine components
Practice lab
Module summary
You now have learned about country and regional tax reporting capabilities in Finance and Operations.
In this module, you learned how to configure tax components, such as sales tax authorities, settlement periods, and the sales tax codes. Additionally, you learned that sales tax codes is the main component to define tax calculations and connect all other
components in the tax so that Finance and Operations can automatically calculate and post transactions for settlement based on the period interval assigned by an authority.

MB-310T02: Configure and use accounts payable, receivable, and collections in Finance and Operations

Module 1: Configure Accounts Payable
Dynamics 365 for Finance and Operations offers extensive functionality for setting up different vendor payment options.
Lessons
Understand Task recorder functionality
Configure accounts payable parameters
Create and maintain vendors
Configure accounts payable charges
Configure and use positive pay
Practice Lab
Module Summary
In this module, you learned how to:
Configure accounts payable components.
Create and maintain a vendor.
Configure vendor payments.
Set up vendor posting profiles.
Configure accounts payable charges.
Module 2: Perform Accounts Payable Daily Procedures
Purchasing goods for resale or as materials for manufacturing or services is a large responsibility. Tracking those purchases and paying the vendors that supply the goods is just as challenging. Organizations must monitor accounts payable closely and
implement procedures so management can easily obtain the financial information that they need to have to stay informed about changes in the costs of goods. To give an accurate view of the financial condition of the business, all expenses that affect net
profit are included in accounts payable. This module explains how to manage and apply prepayments, record invoices, and process payments.
Lessons
Introduction
Process orders, invoices, and payments
Manage and apply prepayments
Practice Labs
Module summary
In this module, you learned that you can enter vendor invoices manually or receive them electronically through a data entity. After the invoices are entered or received, you can review and approve the invoices by using an Invoice approval journal or the
Vendor invoice page.
Additionally, you learned how you can use invoice matching, vendor invoice policies, and workflow to automate the review process so that invoices that meet certain criteria are automatically approved and the remaining invoices are flagged for review by an
authorized user.
You also learned how to handle prepayments to your vendors.
Module 3: Use Accounting Distribution and Invoice Validations
This module explains how to settle transactions and undo settlement and distribute funds by using accounting distributions. You will also learn how to perform invoice matching. Accounting distributions are used to define how an amount will be accounted
for, such as how the expense, tax, or charges will be accounted for on a vendor invoice. Every amount that must be accounted for when the vendor invoice is journalized will have one or more accounting distributions.
Lessons
Introduction
Settle transaction and undo settlements
Distribute funds
Configure invoice validation policies
Practice labs
Module summary
In this module, you learned how to:
Settle transactions and undo settlements.
Distribute funds by using accounting distributions.
Configure invoice validation policies.
Module 4: Configure Accounts Receivable
You need to configure the Accounts receivable module to be able to create customer invoices, posting packing slips and use free text invoices that are not related to sales orders and finally receive payments by using several different payment types such as
cash, checks, credit cards, and electronic payments from your customers. This module provides information about the configuration of essential components of the Accounts receivable module and the customer setup for efficient management of customers and
customer transactions in Finance and Operations.
Lessons
Configure accounts receivable
Create and maintain customers
Setup customer posting profiles
Configure accounts receivable charges
Practice Lab
Module summary
In this module you learned how to:
Configure Accounts receivable components
Create and maintain a customer
Configure customer payments.
Set up customer posting profiles
Configure accounts receivable charges
Module 5: Perform Accounts Receivable Daily Procedures
Learn how to create free text invoices, and receive payments from customers and deposit to the bank. You also learn how to refund a customer for the over payment amount or any other reasons like customer returns scenario which you need to refund the
customer not only the payment but also the tax that has been collected, using reversals and use transaction reversals in Accounts receivable. You also learn how to distribute funds by using Accounting distributions in a free text invoice.
Lessons
Create free text invoices and record customer payments
Settle transactions and undo settlement
Practice Lab
Module summary
In this module you learned:
Distribute funds by using Accounting distributions
Create free text invoices, and record customer payments
Configure Recurring invoices
Use reversals in Accounts receivable
Process orders, record invoices, and process payments
Module 6: Configure Credit and Collections
Although most customers pay their invoices on time, you need to be able to process invoices that are not paid by their due date. This topic explains how to manage delinquent customers by configuring the Credit and collections module in Dynamics 365 for
Finance and Operations. To use the Credit and collections module, you should already have completed the configuration of accounts receivable.
Lessons
Introduction
Configure credit and collections components
Setup and manage interest
Waive, reinstate or reverse
Setup and manage collection letters
Practice Lab
Module Summary
In this module, you learned how to:
Configure credit and collections components.
Configure aging reports, customer pools, collection agents, and aging period definitions.
Set up and manage interests.
Set up and manage collection letters.
Module 7: Process Credit and Collections
Although most customers pay their invoices on time, you must be able to process invoices that are not paid by their due date. This topic explains how to process Credit and collections.
Lessons
Introduction
Understand how to process collections
Manage customer credit and collections
Practice Labs
Module Summary
In this module you learned about:
Customer Statements
How to process collection

MB-310T03: Configure and use budgeting, fixed assets, and additional functionality in Finance and Operations

Module 1: Configure Post-Dated Checks
Postdated checks are checks that are issued to make and receive payments on a future date. Therefore, the check can't be cashed until the specified date. Microsoft Dynamics 365 for Finance and Operations supports the full management cycle for post-dated
checks in both Accounts receivable and Accounts payable. This topic explains how to set up and process post-dated checks.
Lessons
Introduction
Manage post dated checks
Practice Labs
Module Summary
In this module you learned how to:
Process post-dated checks
Set up postdated checks
Register and post a postdated check for a customer
Settle a postdated check from a customer
Register and post a postdated check for a vendor
Settle a postdated check for a vendor
Module 2: Configure and Use Basic Budgeting and Budget Control Processes
Every organization, whether it is private or public, sets financial and operational goals by creating budgets. When the budget is established, management monitors the activities within the budget framework. This module provides information about the how to
configure and use basic budgeting and budget control.
Lessons
Introduction
Configure basic budgeting components
Configure budget control components
Create and test budget registry entries
Use inquiries and reports
Practice Labs
Module summary
In this module you learned how to:
Configure basic budgeting components
Configure budget control components
Use inquires and reports
Create and use budget registry entries
Module 3: Configure and Use Budget Planning Processes
With budget planning functionality you can consolidate multiple budget plans from a lower level into a single parent budget plan at a higher level in the organization. This is called bottom up approach budget planning which allows a budget planner to
aggregate other plans into a high level or corporate plan for budgeting. You can also take the top down approach which requires developing a single budget plan at a higher level of the organization and allocate the budget to lower levels of the
organization. Use this method when you rely on historical financial transactions of your company and create a centralized plan which can be allocated throughout different operating units defined by an organization hierarchy with Budget planning purpose.
The budget planner as a final step of the budget planning, generates the budget register entry based on budget plan. An organization can configure budget planning, and then set up budget planning collaborative processes to meet its policies, procedures,
and requirements for budget preparation. This topic explains how to configure and test Budget planning processes.
Lessons
Introduction
Configure budget plannign components
Practice Lab
Module summary
In this module you learned how to:
Configure Budget planning components
Create a budget plan template
Configure budgeting processes
Create a budget plan by using the budget plan wizard
Module 4: Configure Fixed Assets Management
This module starts with explaining fixed assets concepts and then shows you how to configure and use the Fixed assets module in Dynamics 365 for Finance and Operations.
Lessons
Introduction
Configure fixed asset components
Enable fixed asset integration
Create fixed assets
Practice labs
Module summary
In this module you learned how to:
Configure fixed assets components
Configure fixed asset parameters
Enable fixed asset integration with purchasing
Create fixed assets
Module 5: Manage Fixed Assets
To record fixed asset transactions using journals, you must create at least one journal name using the journal type Post fixed assets in the setup of the General ledger module. If budgets for fixed assets are required, you must also create a journal name
that uses the journal type Fixed asset budget. This module explains how to process and manage fixed assets.
Lessons
Introduction
Perform fixed assets tasks
Practice labs
Module summary
In this module you learned how to:
Perform fixed asset acquisition
Perform fixed asset depreciation
Perform fixed asset disposal
Module 6: Configure and Use Cost Accounting
Cost accounting lets you collect data from various sources, such as the general ledger, sub-ledgers, budgets, and statistical information. You can then analyze, summarize, and evaluate cost data, so that management can make the best possible decisions for
price updates, budgets, cost control, and so on. The source data that is used for cost analysis is treated independently in Cost accounting. Therefore, updates in Cost accounting don’t affect the source data.
Lessons
Introduction
Cost control workspace
Practice lab
Module summary
In this module you learned about:
Cost control workspace
How to create a cost accounting report by using the Cost accounting Get started wizard
Module 7: Configure and Use Periodic Processes
In General ledger, you can complete closing procedures for a period or a year. Closing processes prepare the system for a new period. There are many tasks such as preparing filings, inventory closing, consolidation and many more needs to be completed
first. To prepare the system for a new year, you must run the year end close process. Each organization has different processes and steps that it performs for the end of a period.
Lessons
Introduction
Bank reconciliations
Configure financial period close
Prepare periodic filings
Run foreign currency revaluation processes
Perform financial consolidations
Process end of year close
Practice Labs
Module summary
In this module you learned how to:
Configure financial period close
Reconcile banks
Perform periodic closing, and year closing processes
Prepare periodic filings
Configure and test Vendor 1099s process
Run foreign currency revaluation processes
Perform financial consolidation and elimination processes
Use Financial reports to create financial statements
Process end of year tax reporting
Module 8: Configure the Electronic Reporting Framework
Generic Electronic Reporting (GER) or simply Electronic Reporting (ER) is a configurable tool for regulatory reporting, payments and electronic invoicing. The ER engine is targeted at business users instead of developers. Because you configure formats
instead of code, the processes for creating and adjusting formats for electronic documents are faster and easier. ER currently supports the TEXT, XML, PDF, Microsoft Word document, and OPENXML worksheet formats. However, an extension interface provides
support for additional formats.
Lessons
Introduction
Configure electronic reporting
Formula designer in electronic reporting
Practice Lab
Module summary
In this module you learned how to:
Configure Electronic Reporting (ER)
Create Electronic reporting (ER) configurations
Perform periodic closing, and year closing processes
Formula designer in Electronic reporting (ER)
Module 9: Configure Localized Features
Dynamics 365 for Finance and Operations includes functionality for the countries and regions documented in the Product localization and translation availability guide. This module explains how to configure some examples of regional features in Finance and
Operations. Please read the information on the Localization and regulatory features page to stay updated with the regional functionality of Finance and Operations for all countries/regions.
Lessons
Introduction
Localization and regulatory features
Classification of Mexican localization features
Understand the global tax engine
Understand the features of fiscal establishments and documents for Brazilian localization
Bill of Exchange
Electronic Invoices
Practice Labs
Module summary
In this module you learned about:
Localization and regulatory features
Classification of localization features
How to apply country and region context
How to configure and demonstrate the features of Fiscal Establishments, and Fiscal Documents for a Brazilian localization
Test Bill of Exchange process
Configure and use Promissory notes
Configure and test Electronic invoices (CFDI) for a Mexican localization
Module 10: Configure Financial Management for Public Sector
The Public Sector, also referred to as the state and local sector, is predominantly a services industry managing the welfare of its citizens. The public sector industry includes organizations in the fields of municipalities, education, healthcare, public
safety, public works and infrastructure, national defense, taxation, and various social programs.
Lessons
Introduction
Setup funds for the public sector
Setup derived financial hierarchies
Configure billing codes for free text invoices
Practice Labs
Module summary
In this module you learned:
Set up funds for the public sector
Understand bank reconciliation methods
Set up derived dimensions
Set up derived financial hierarchies for the public sector
Advanced ledger entries functionality for Public sector
Configure billing codes for free text invoices

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MB-310: Microsoft Dynamics 365 for Finance and Operations, Financials Course

MB-310: Microsoft Dynamics 365 for Finance and Operations, Financials Course

Overview

Prerequisites

Related Certifications

Who should attend

At Course Completion

MB-310T01: Configure and use essential components of financial management in Dynamics 365 for Finance and Operations

MB-310T02: Configure and use accounts payable, receivable, and collections in Finance and Operations

MB-310T03: Configure and use budgeting, fixed assets, and additional functionality in Finance and Operations

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