Learn the best strategy to set up ‘Error account’ and ‘Penny difference in accounting currency’ in Microsoft Dynamics 365 Finance for seamless automatic transaction posting and error handling.
Table of Contents
Question
The finance team at Contoso, Ltd. is setting up Microsoft Dynamics 365 Finance for their new subsidiary. They want to ensure that the system automatically posts transactions to the correct main accounts without manual intervention, especially for error handling and currency revaluation differences. You need to create a strategy to configure the Accounts for automatic transactions to handle these scenarios with minimal manual input. What configuration should you implement?
A. Configure all posting types manually in the respective module-specific pages for each transaction type.
B. Leave the main account fields blank for the ‘Error account’ and ‘Penny difference in accounting currency’ to prompt users for account selection during transactions.
C. Set up the ‘Error account’ and ‘Penny difference in accounting currency’ posting types on the Accounts for automatic transactions page with appropriate main accounts.
D. Use the same main account for all automatic transactions to streamline the posting process.
Answer
C. Set up the ‘Error account’ and ‘Penny difference in accounting currency’ posting types on the Accounts for automatic transactions page with appropriate main accounts.
Explanation
Setting up specific posting types like ‘Error account’ and ‘Penny difference in accounting currency’ with appropriate main accounts (A) ensures that transactions are posted automatically to the correct accounts, reducing manual intervention. Configuring all posting types manually (B) is not efficient. Leaving fields blank (C) would result in errors and require manual intervention. Using the same account for all transactions (D) would not allow for proper tracking and reconciliation of different transaction types.
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