Learn how to set up the ‘Ledger Budgets and Forecasts’ workspace in Microsoft Dynamics 365 Finance to empower budget managers with personalized tools for reviewing budget variances and achieving financial goals efficiently.
Table of Contents
Question
Fabrikam, Inc. is configuring their Microsoft Dynamics 365 Finance system to manage budgets and forecasts. They want to enable budget managers to review current budget states and identify areas where budget targets are not being met. You need to set up a workspace that allows budget managers to quickly view and act on budget variances. What should you do?
A. Configure the ‘Ledger budgets and forecasts’ workspace with personalized budget threshold percentages and financial dimension sets.
B. Create a custom report for each budget manager to distribute via email on a weekly basis.
C. Direct budget managers to use the ‘General ledger entries’ page to manually compare budgeted and actual amounts.
D. Instruct budget managers to generate and analyze the ‘Budget vs actuals’ inquiry page for each financial dimension combination.
Answer
A. Configure the ‘Ledger budgets and forecasts’ workspace with personalized budget threshold percentages and financial dimension sets.
Explanation
Configuring the ‘Ledger budgets and forecasts’ workspace with personalized settings allows budget managers to quickly view areas where budget targets are not being met and take necessary actions. This is more efficient than manually comparing amounts on the ‘General ledger entries’ page or relying on custom reports sent via email. While the ‘Budget vs actuals’ inquiry page provides detailed information, it is not as efficient for quick reviews and actions as the configured workspace.
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