Discover the essential configurations to streamline accounts payable in Microsoft Dynamics 365 Finance. Learn how invoice validation policies, vendor change approvals, and posting profiles can enhance efficiency and compliance across international operations.
Table of Contents
Question
Contoso Ltd. is configuring Microsoft Dynamics 365 Finance to automate vendor payments and invoice processing. They have vendors with varying payment terms. They operate in multiple countries with different currencies. You need to configure the system to optimize the accounts payable process, ensuring compliance with international standards and reducing manual intervention. What three configurations should you implement? Each correct answer presents part of the solution. Choose three.
A. Configure a single method of payment for all vendors to streamline the payment process.
B. Configure invoice validation policies to automatically approve invoices that meet certain criteria.
C. Disable payment calendars to simplify the payment configuration.
D. Enable vendor change approvals to maintain control over vendor information modifications.
E. Manually enter all vendor invoices to ensure accuracy of data entry.
F. Set up vendor groups and vendors with appropriate posting profiles to automate ledger entries.
Answer
B. Configure invoice validation policies to automatically approve invoices that meet certain criteria.
D. Enable vendor change approvals to maintain control over vendor information modifications.
F. Set up vendor groups and vendors with appropriate posting profiles to automate ledger entries.
Explanation
Setting up vendor groups and vendors with appropriate posting profiles automates ledger entries and reduces manual work. Configuring invoice validation policies helps in automating the approval process for invoices that meet predefined criteria, thus ensuring efficiency and compliance. Enabling vendor change approvals provides control and security over vendor information. Option E is incorrect because manually entering all invoices is not efficient and does not leverage the automation capabilities of Dynamics 365 Finance. Option C is incorrect as payment calendars are important for managing different payment schedules. Option A is incorrect because vendors may have different preferred methods of payment, and a single method may not be suitable for all.
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