Learn how to enhance budget checks in Microsoft Dynamics 365 Finance by aligning budget cycles with fiscal periods. Discover effective strategies for managing multi-year budgeting processes.
Table of Contents
Question
Contoso, Ltd. is preparing for the upcoming fiscal year. They want to optimize the management of financial resources using Microsoft Dynamics 365 Finance. They have a complex budgeting process that spans multiple fiscal years and involves various user groups with different permissions. You need to evaluate the current budget control configurations and recommend changes to enhance the effectiveness of budget checks on documents and journals across fiscal periods. What should you recommend?
A. Adjust the budget cycle time spans to align with the fiscal periods and configure the budget control to evaluate available funds accordingly.
B. Disable budget control checks for previous fiscal years to focus solely on the upcoming fiscal year.
C. Recommend that Contoso, Ltd. uses a third-party budgeting tool to manage their multi-year budgeting process.
D. Remove all user group permissions to prevent any over-budget transactions from occurring.
Answer
A. Adjust the budget cycle time spans to align with the fiscal periods and configure the budget control to evaluate available funds accordingly.
Explanation
Adjusting the budget cycle time spans to match the fiscal periods ensures that budget checks are relevant and accurate for the periods being evaluated. Removing all user group permissions is not practical as it would hinder the budgeting process. Disabling budget control checks for previous fiscal years could lead to a lack of accountability for past expenditures. Recommending a third-party tool is outside the scope of optimizing the existing Microsoft Dynamics 365 Finance system.
Microsoft Dynamics 365 Finance Functional Consultant MB-310 certification exam assessment practice question and answer (Q&A) dump including multiple choice questions (MCQ) and objective type questions, with detail explanation and reference available free, helpful to pass the Microsoft Dynamics 365 Finance Functional Consultant MB-310 exam and earn Microsoft Dynamics 365 Finance Functional Consultant MB-310 certification.