Discover the three essential actions for managing customer credit limits and risk scores in Dynamics 365 Finance. Learn how to streamline collections and reduce unnecessary communication effectively.
Table of Contents
Question
Your company has recently implemented the Credit and Collections module in Dynamics 365 Finance. They have a diverse customer base with varying credit limits and risk scores. You need to set up a system that allows for efficient management of customer credit limits and risk scores while minimizing the number of collection letters sent to each customer. What three actions should you perform? Each correct answer presents part of the solution. Choose three.
A. Change the value of ‘Create collection letter per’ to ‘Customer’ in the ‘Collections’ tab of ‘Accounts receivable parameters’.
B. Create risk scoring groups to determine whether a particular customer is a low or high risk.
C. Manually adjust the credit limit for each customer account on a regular basis.
D. Send collection letters to all customers regardless of their transaction aging.
E. Set up customer credit groups for managing credit limits.
Answer
A. Change the value of ‘Create collection letter per’ to ‘Customer’ in the ‘Collections’ tab of ‘Accounts receivable parameters’.
B. Create risk scoring groups to determine whether a particular customer is a low or high risk.
E. Set up customer credit groups for managing credit limits.
Explanation
Setting up customer credit groups allows for efficient management of credit limits for groups of customers who share a credit limit. Creating risk scoring groups helps in determining the risk level of a customer based on certain criteria. Changing the value of ‘Create collection letter per’ to ‘Customer’ ensures that a single collection letter containing all overdue transactions is sent to a customer, reducing the number of collection letters sent. Sending collection letters to all customers regardless of their transaction aging is not efficient and can lead to unnecessary communication. Manually adjusting the credit limit for each customer account on a regular basis is time-consuming and not efficient.
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.