A company plans to implement basic budgeting functionality in Dynamics 365 Finance. You need to configure the minimum number of components to enable functionality. Which three required components…

Question

Options

• ABudget parameters and number sequences
• BFinancial dimensions for budgeting
• CBudget codes and budget models
• DBudget control rules
• EGeneral ledger posting profiles

• A
  88% (14)
• D
  6% (1)
• E
  6% (1)

Explanation

To implement basic budgeting in Dynamics 365 Finance, you need to configure organizational structures, define financial dimensions, set up budget models, and create budget register entries. This involves defining budget parameters, analyzing budget versus actual performance, and using inquiries and reports. 1. Prerequisites: Organizational Hierarchy: Define the structure of your organization to reflect how budgets will be Chart of Accounts and Fiscal Calendars: Ensure your accounting structure and fiscal period definitions are set up correctly. [B] Financial Dimensions: Identify the dimensions (e.g., department, project, cost center) that will be used for budgeting. Account Structures: Define how accounts are structured for budgeting. Currency Exchange Rate: If you're using multiple currencies, ensure exchange rates are Budget Journal Type: Establish the type of budget journal for recording budget entries. 2. Setting up Budgeting: [A] Define Budget Parameters: Configure parameters like the budget version, time period, and [C] Set up Budget Models: Create the specific budget plans or scenarios you'll be using. Create Budget Register Entries: Enter budget amounts against the defined dimensions and [C] Budget Control: Implement budget control if you want to restrict spending to approved budget [A] Note: Number sequences are required for basic budgeting in Dynamics 365 Finance. Specifically, you need to set up number sequences for budget register entries. These sequences help ensure that each budget entry has a unique reference number. https://learn.microsoft.com/en-us/training/modules/setup-use-basic-budgeting-finance/

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