How to Configure Exchange Rate Providers for Multi-Currency Transactions in Dynamics 365?
Table of Contents
Question
The finance team has reported that the current Microsoft Dynamics 365 finance and operations apps do not provide adequate support for multi-currency transactions, leading to errors in financial reporting.
You need to ensure that the system can handle transactions in multiple currencies accurately and efficiently.
What should you do?
Select only one answer.
A. Remove multi-currency support to simplify the financial reporting process.
B. Manually enter exchange rates for each transaction as they occur.
C. Limit transactions to a single currency to avoid exchange rate complications.
D. Configure currency exchange rate providers and schedule regular exchange rate updates.
Answer
D. Configure currency exchange rate providers and schedule regular exchange rate updates.
Explanation
Configuring currency exchange rate providers and scheduling regular updates will ensure accurate and automated handling of multi-currency transactions. Manually entering exchange rates is error-prone and inefficient. Limiting transactions to a single currency is not practical for a global business. Removing multi-currency support does not solve the problem and restricts business operations.
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