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MB-310 · Question #40

SIMULATION You are a functional consultant for Contoso Entertainment System USA (USMF). You need to implement a quarterly accruals scheme for USMF. The accrual scheme settings must match the settings

The correct answer is A. Select intercompany journal names. C. Create intercompany main accounts to use for the due to and due from accounting entries. D. Define intercompany accounting setup by creating legal entity pairs defining originating and destination companies.. Note: This question contains a mismatch - the simulation scenario describes accrual schemes, but the answer choices pertain to intercompany accounting setup in Dynamics 365 Finance. The correct answer (A, C, D) applies to the intercompany accounting topic. Why A, C, D are correct

Set up and configure financial management

Question

SIMULATION You are a functional consultant for Contoso Entertainment System USA (USMF). You need to implement a quarterly accruals scheme for USMF. The accrual scheme settings must match the settings of the monthly and annual accrual schemes. To complete this task, sign in to the Dynamics 365 portal. Answer: Look at the monthly and annual accrual scheme settings. Create a quarterly accrual scheme with the same settings by using the following instructions: 1. Go to Navigation pane > Modules > General ledger > Journal setup > Accrual schemes. 2. Select New. 3. In the Accrual identification field, type a value. 4. In the Description of accrual scheme field, type a value. 5. In the Debit field, specify the desired values. The main account defined will replace the debit main account on the journal voucher line and it will also be used for the reversal of the deferral based on the ledger accrual transactions. 6. In the Credit field, specify the desired values. The main account defined will replace the credit main account on the journal voucher line and it will also be used for the reversal of the deferral based on the ledger accrual transactions. 7. In the Voucher field, select how you want the voucher determined when the transactions are posted. 8. In the Description field, type a value to describe the transactions that will be posted. 9. In the Period frequency field, select how often the transactions should occur. 10. In the Number of occurrences by period field, enter a number. 11. In the Post transactions field, select when the transactions should be posted, such as Monthly. https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/tasks/create-accrual- schemes

Options

  • ASelect intercompany journal names.
  • BConfigure intercompany accounting in both the originating entity and destination entity.
  • CCreate intercompany main accounts to use for the due to and due from accounting entries.
  • DDefine intercompany accounting setup by creating legal entity pairs defining originating and destination companies.
  • EConfigure intercompany accounting in the destination entity only.

How the community answered

(40 responses)
  • A
    78% (31)
  • B
    15% (6)
  • E
    8% (3)

Explanation

Note: This question contains a mismatch - the simulation scenario describes accrual schemes, but the answer choices pertain to intercompany accounting setup in Dynamics 365 Finance. The correct answer (A, C, D) applies to the intercompany accounting topic.

Why A, C, D are correct: Setting up intercompany accounting in Dynamics 365 requires three foundational steps: selecting intercompany journal names (A) to control how transactions are journalized, creating intercompany main accounts (C) for the "due to" and "due from" balance sheet entries, and defining legal entity pairs (D) that establish which company originates the transaction and which receives it.

Why B is wrong: Intercompany accounting is not configured independently "in both entities" - it is configured centrally through legal entity pair definitions (D), which already captures both sides of the relationship.

Why E is wrong: Configuring only the destination entity is insufficient; the originating entity's context must also be captured through the legal entity pair setup.

Memory tip: Use the acronym AJP - Accounts (main accounts for due to/due from), Journals (intercompany journal names), Pairs (legal entity pairs). All three must exist before intercompany transactions can post correctly.

Topics

#accrual schemes#general ledger#journal setup#quarterly accruals

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