Learn the top three actions to evaluate and enhance expense management in Microsoft Dynamics 365 Finance, ensuring compliance, flexibility, and efficient intercompany expense handling for global organizations.
Table of Contents
Question
A multinational corporation with multiple legal entities is implementing Microsoft Dynamics 365 Finance. They require a comprehensive expense management solution that can handle complex intercompany expense transactions and varying per diem rates based on location and time of year. You need to evaluate the current setup of their expense management system to ensure it meets the organization’s requirements for flexibility and compliance with internal policies. What three actions should you perform? Each correct answer presents part of the solution. Choose three.
A. Assess whether the expense reports are being manually processed and approved without utilizing the configured workflow system.
B. Check if the expense management policies are set up to enforce compliance with the organization’s spending rules and regulations.
C. Confirm that a single static per diem rate is applied to all employees regardless of travel destination or duration.
D. Ensure that all employees have unrestricted access to enter personal expenses for any legal entity within the organization.
E. Review the intercompany expense setup to confirm that employees can incur expenses on behalf of other legal entities and receive reimbursement from their home entity.
F. Verify that per diem rates are configured to adjust automatically based on the employee’s travel destination and the time of year.
Answer
B. Check if the expense management policies are set up to enforce compliance with the organization’s spending rules and regulations.
E. Review the intercompany expense setup to confirm that employees can incur expenses on behalf of other legal entities and receive reimbursement from their home entity.
F. Verify that per diem rates are configured to adjust automatically based on the employee’s travel destination and the time of year.
Explanation
Option E is correct because ensuring that intercompany expenses can be managed effectively is crucial for a multinational corporation. Option F is correct as varying per diem rates based on location and time are necessary for accurate expense management. Option B is correct because enforcing compliance with spending rules is essential for organizational control. Option D is incorrect because unrestricted access could lead to non-compliance with company policies. Option C is incorrect as it does not provide the flexibility required for different travel scenarios. Option A is incorrect because manual processing contradicts the purpose of having an automated workflow 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.