This 5-day exam class MB-310: Microsoft Dynamics 365 Finance enables you to accomplish the following tasks:
- Set up and configure financial management
- Manage and apply common processes
- Implement and manage accounts payable and receivable
- Manage budgeting and fixed assets.
This exam training class is not just about you passing MB-310 – it aims higher: we want you to understand and be able to apply your skills in real-life scenarios after the training has ended, not just in an exam situation while at our training center. And we are confident that you have indeed passed the exam at the end of the training, too!
This exam is part of these Microsoft certifications
- Microsoft Certified: Dynamics 365 Finance Functional Consultant Associate. Required exams: MB-300 and MB-310
Typical participant profiles:
Candidates for this exam class 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 have a fundamental understanding of accounting principles and financial operations of businesses, customer service, field service, manufacturing, retail, and supply chain management concepts.
It is essential to have participated in our course Introduction to Microsoft Dynamics 365 for Finance and Operations or in other ways have obtained equivalent knowledge.
(for full descriptions and lesson details, please click the 3 headings below)
Module 1: Financial Management
In this module, you will learn some of the benefits of financial management of Dynamics 365 for Finance and Operations.
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.
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.
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.
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 a proper security role to access the General ledger. A journal name gives financial leaders the capability to control data entry validation and restrict the posting of a journal name for users differently.
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. Finance and Operations uses this information to process all bank transactions, such as payments and deposits.
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 the 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.
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.
Module 1: Configure Accounts Payable
Dynamics 365 for Finance and Operations offers extensive functionality for setting up different vendor payment options. Task recorder, parameters, vendors, payments, charges, positive pay.
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.
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.
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.
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 overpayment 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.
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.
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.
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.
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 how to configure and use basic budgeting and budget control.
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 a 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 the Budget planning processes.
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.
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.
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.
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 need 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.
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.
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.
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.
We think that your options should be flexible and cost-efficient. Don't pay for services that you don't really need.
- Standard – the cost-efficient option
- Price for this course includes training manuals, training environment, food and beverages during the training, and participation in the MB-310 exam itself.
- All-Inclusive – the hassle-free option
- All of the Standard benefits as above plus
- Transport service from and to the airport, hotel accommodation, other meals (breakfast and evening dinner – sumptuous lunch buffet is served at the training location)
- All of the Standard benefits as above plus
Price for this course includes training manuals, training environment, food and beverages during the training, and participation in the MB-310 exam itself.
Training manuals are provided printed and/or as files.
Each student will receive copies to annotate and keep.
During the training, each student will have access to their personal copy of Microsoft Dynamics 365 for Finance and Operations training environment (with standard Contoso demo data) free of charge. Your training environment is available 24 hours a day even outside the classroom, should you want to study outside normal class hours.
After the training, you could continue to have access to your personal training environment – including your labs. A nominal fee might apply for this optional service.
To ensure the best possible learning environment, a world-class technical instructor and solution architect with loads of real-life technical experience in D365FO, D365O, as well as AX 7 and previous versions of AX is in place, and the number of participants is limited to 10 students.
Food and beverages
Food and beverages are provided during the training hours.
•Light breakfast before the start
•Sumptuous lunch buffet of high quality and variety
•Water, coffee/tea, soft drinks, fruits throughout the day.
(Actual offerings and vary depending on the actual training location. For special food requirements, please ask well in advance of the class start date)
Participation in the MB-310 exam itself.
As above Standard plus
- Transport service from and to the airport
- Superior hotel room accommodation within walking distance of the training location
- Meals (breakfast and evening dinner – sumptuous lunch buffet is served at the training location)
On top of our training methodology, Problem-Principle-Procedure, we apply a proven track to ensure a successful certification exam training:
- GateQuiz – to align skills level and suggest pre-study
- Pre-training webinar – meet the instructor and get ready
- The training class itself – plenty of hands-on in-class and optional homework
- Last day of the training
- Recap of the week – important highlights
- AXcademy certification exam prep quiz
- Question and answer session – final tips and tricks
- The exam MB-310 itself
Courseware/training materials used
This course includes all or part of the topics of below listed Microsoft Courseware
- 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 (MB-310T02)
- Configure and use budgeting, fixed assets, and additional functionality in Finance and Operations (MB-310T03)
Exam class MB-310: Microsoft Dynamics 365 Finance
This 5-day exam class MB-310 enables you to accomplish the following tasks: Set up and configure financial management. Manage and apply common processes. Implement and manage accounts payable and receivable. Manage budgeting and fixed assets.