Exam MB-310: Microsoft Dynamics 365 Finance
This preparation guide includes information and tools to assist you in preparation for Exam MB-310: Microsoft Dynamics 365 Finance.
Why get certified in Microsoft Dynamics 365 For Finance and Operations?
Training options for MB-310 Finance
Choose from our Live online, On-demand, or classroom training:
- Live online course: MB-310 Finance | D365FO | Live Online Course
- On-demand course: MB-310 Finance | D365FO | On-demand course
- Classroom course: Exam class MB-310: Microsoft Dynamics 365 Finance
Training manuals for MB-310
- Configure and use essential components of financial management in Dynamics 365 for Finance and Operations
- Configure and use accounts payable, receivable, and collections in Finance and Operations
- Configure and use budgeting, fixed assets, and additional functionality in Finance and Operations
Who should take this exam?
Candidates for this exam are functional consultants who analyze business requirements and translate those requirements into fully realized business processes and solutions that implement industry best practices.
Candidates serve as a key resource in implementing and configuring applications to meet business requirements.
Candidates for this exam must have a fundamental understanding of accounting principles and financial operations of businesses including accounts payables and accounts receivables, taxes, costing principles, fixed assets, and budgeting.
Prerequisite
Certification
Passing MB-300 plus MB-310 leads to the certification Microsoft Certified: Dynamics 365 Finance Functional Consultant Associate.
Skills measured
Note: The exam is updated on August 27, 2021. Updates are not yet reflected below.
NOTE: The bullets that appear below each of the skills measured are intended to illustrate how Microsoft is assessing that skill. This list is not definitive or exhaustive.
NOTE: In most cases, exams do NOT cover preview features, and some features will only be added to an exam when they are GA (General Availability).
Set up and configure financial management (50-55%)
Define and configure the chart of accounts
- define and configure the chart of accounts and main accounts
- describe use cases for main accounts categories, ledger account aliases, and balance control accounts
- configure financial dimensions and dimension sets
- configure legal entity overrides for financial dimensions and main accounts
- create and configure account structures and advanced rules
Configure ledgers and currencies
- construct fiscal calendars, years, and periods
- configure the ledger
- describe and configure batch transfer rules
- set up currencies and conversions for a legal entity
- manually enter currency exchange rates
- configure currency exchange rate providers.
Implement and manage journals
- describe options for implementing voucher numbers in journals
- configure journal names
- set up journal controls and posting restriction rules
- describe and configure journal approvals
- create voucher templates
- describe use cases for periodic journals
- configure and apply accrual schemes
- set up intercompany accounting.
Implement and manage cash and bank
- create and maintain bank groups and bank accounts
- describe and configure electronic payment formats
- configure and process bank reconciliations including advanced bank reconciliations
- configure cash flow reports.
Implement cost accounting and cost management
- describe cost accounting processes and terms
- configure cost accounting processes
- create a cost accounting report by using the Cost Accounting Report wizard
- describe and configure the costing sheet and indirect costs
- configure cost objects and cost groups
- implement inventory costing versions
- differentiate between inventory costing methodologies
- configure item groups and posting profiles
- perform inventory closing and adjustment processes.
Perform periodic processes
- configure a financial period workspace and closing schedule
- define and demonstrate periodic closing processes and end-of-year processes
- perform financial consolidation and elimination processes
- configure allocation terms for a main account
- create and process ledger allocation rules
- implement foreign currency revaluation processes
- create and manage financial reports including row, column, and report definitions.
Configure, collect, and report taxes
- configure tax groups, tax codes, settlement periods, and jurisdiction
- configure tax ledger posting groups
- prepare periodic filings including end-of-year tax reporting.
Implement and manage accounts payable and expenses (10-15%)
Implement and manage Accounts payable
- configure invoice validation policies
- set up vendor posting profiles
- process orders, invoices, and payments
- configure the Vendor Collaboration module
- configure vendor payments including positive pay and payment calendars
- configure accounts payable charges
Configure and use expense management
- configure expense management including categories, per diem options, mileage expenses, and personal expenses
- configure workflows for expense management
- describe use cases for expense management policies and the Audit workbench
- describe and configure credit card processing manage expense reports
Implement accounts receivable, credit, collections, and revenue recognition (20-25%)
Implement and manage accounts receivable
- set up customer posting profiles
- configure and process free text invoices
- process orders, invoices, and payments
- configure customer payment setup
- configure accounts receivable charges
Manage credit and collections
- configure credit management processes
- configure collections management processes
- manage delinquent customers
- prepare and send customer account statements
- manage customer credit limits and credit holds
- set up and process collection letters and interest notes
Configure revenue recognition
- configure journals and parameters for revenue recognition
- implement revenue schedules
- enter and process revenue recognition transactions.
Manage budgeting and fixed assets (10-15%)
Configure and manage budgeting processes
- configure budgeting components including budget models, codes, allocation terms, cycles, and transfer rules
- create a budget plan including scenarios, stages, allocation stages, stage allocations, and templates
- define a budget planning process and plan a budget
- configure budget controls including cycle time spans, budget parameters, budget fund availability options, budget control rules and groups, and over-budget permissions
- create and configure registry entries
- implement budget workflows
- perform budget checks on documents and journals
Implement and manage fixed assets
- create fixed assets and fixed assets groups
- configure fixed asset parameters
- describe and configure fixed asset books and depreciation
- enable integration with purchasing, projects, and free text invoices
- acquire, depreciate, and dispose of fixed assets
- create fixed asset budgets and transfer the budgets to the budgeting module
- estimate and perform an elimination of a project to a fixed asset.
Preparation options for Exam MB-310: Microsoft Dynamics 365 Finance
Training options for MB-310 Finance
Choose from our Live online, On-demand, or classroom training:
Live online course: MB-310 Finance | D365FO | Live Online Course
On-demand course: MB-310 Finance | D365FO | On-demand course
Classroom course: Exam class MB-310: Microsoft Dynamics 365 Finance
Training manuals for MB-310
- Configure and use essential components of financial management in Dynamics 365 for Finance and Operations (Course MB-310T01)
- Configure and use accounts payable, receivable, and collections in Finance and Operations (Course MB-310T02)
- Configure and use budgeting, fixed assets, and additional functionality in Finance and Operations (Course MB-310T03)
Schedule exam
Schedule the exam at Microsoft
More information about D365FO exams
View the complete list of Microsoft Dynamics 365 FO Certification Exams
Skills measured – older versions
Skills measured – valid until 2020-10-15
This exam measures your ability to accomplish the technical tasks listed below. The percentages indicate the relative weight of each major topic area on the exam. The higher the percentage, the more questions you are likely to see on that content area on the exam. Please note that the questions may test on, but will not be limited to, the topics described in the bulleted text.
Set up and configure financial management (35-40%)
Implement and configure financial modules
- configure and apply accrual schemes
- configure cash flow reports
- configure the letter of credit and letter of guarantee templates
- set up intercompany accounting
- create and configure account structures
- configure other modules including cash and bank management and budgeting, credit and collections, audit workbench, and consolidations
- implement posting definitions
Implement and test cost and allocation policies
- implement cost accounting processes
- implement inventory costing versions
- implement item groups
- create and process Ledger allocation rules
- demonstrate the use of cost accounting terminology
- construct fiscal calendars, years, and periods
Perform periodic processes
- configure financial period close
- define and demonstrate periodic closing processes and end-of-year processes
- demonstrate regional tax reporting capabilities
- perform bank reconciliation
- perform financial consolidation
- create a cost accounting report by using the cost accounting Report Wizard
- allocate funds by using accounting distributions
Configure, collect, and report taxes
- configure tax components
- implement and test end-of-year tax reporting
- prepare periodic filings
Manage and apply common processes (20-25%)
Define and configure the account structure
- demonstrate the advanced ledger entries functionality
- set up derived financial hierarchies
- demonstrate financial consolidation and elimination processes
- set up funds
- define and configure the main account
- define and configure the financial dimensions and dimension sets
- perform financial statements
- perform tracking of posted transactions
Implement regulatory and localization features and manage currencies
- set up legal entity currencies and conversions
- configure currency exchange rate providers
- implement foreign currency revaluation processes
- determine which regulatory and localization features to apply to a given scenario
Implement and manage journals
- identify the different types of journals available and their setup
- set up journal controls
- configure the journal posting restriction rules
- configure approval processes by using workflows
- create voucher templates
- perform daily procedures using journals
Implement and manage accounts payable and receivable (20-25%)
Implement and manage Accounts receivable
- set up customer posting profiles
- manage delinquent customers
- configure billing codes for free text invoices, process orders, invoices, and payments
- configure and process credit and collection
- configure customer payment setup
- prepare and send customer account statements
- configure accounts receivable charges
Implement and manage Accounts payable
- configure invoice validation policies
- set up vendor posting profile, process orders, invoices, and payments
- configure the Vendor collaboration module
- configure vendor payments
- configure accounts payable charges
Manage budgeting and fixed assets (15-20%)
Configure and manage Budgeting processes
- configure budgeting components
- create a budget plan template
- create a budget plan by using the budget plan wizard
- perform the budget planning process
- configure budget controls
- create and demonstrate registry entries
- implement budget workflows
Implement and manage Fixed assets
- create fixed assets and fixed asset groups
- configure fixed asset parameters
- identify when to enable integration with purchasing and sales module
- perform acquisition, depreciation, and disposal of fixed assets