Learn step-by-step how to set up balance control accounts in Microsoft Dynamics 365 Finance to automatically verify bank account balances before processing payments in the accounts payable module.
Table of Contents
Question
The finance department at Adventure Works Cycles is implementing balance control accounts to monitor the current and expected balance of liquidity accounts. They want to ensure that the system can automatically verify if there are sufficient funds in the bank accounts before processing payments. You need to configure Microsoft Dynamics 365 Finance to automatically check the expected balance of bank accounts against the payment amounts in the accounts payable module. What should you do to enable this functionality?
A. Configure the DB/CR default and DB/CR requirement fields on the main bank account to enforce balance checks during journal entry.
B. Create a new financial dimension for bank accounts and assign it to the relevant journal names.
C. Implement an extended ledger journal for the bank accounts to timestamp each transaction.
D. Set up a periodic journal for the bank accounts to simulate the expected balance after each transaction.
Answer
A. Configure the DB/CR default and DB/CR requirement fields on the main bank account to enforce balance checks during journal entry.
Explanation
The correct answer is A because configuring the DB/CR default and DB/CR requirement fields on the main bank account allows the system to automatically check if there are enough funds before posting transactions. Option D is incorrect as periodic journals are used for recurring entries, not for balance checks. Option B is incorrect because financial dimensions are used for reporting and analysis, not for balance control. Option C is incorrect as the extended ledger journal is used for adding date and time stamps to transactions, not for balance verification.
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