Contoso Ltd. has two legal entities: Contoso US and Contoso Canada. A customer, Northwind Traders, operates in both countries and wants to be managed as a single customer record. The accounts receivable manager needs to ensure that invoices posted in either legal entity appear under the same customer account, while still allowing different payment terms and posting profiles per legal entity. What should you configure?

Use the global address book to merge the two customer records into one, then assign the merged record to both legal entities.

Configure the customer as a 'Shared customer' in the Accounts receivable parameters and then assign a single posting profile for all legal entities.

Create separate customer records in each legal entity and link them using the customer account number.

Create a shared customer record and assign it to both legal entities, then set up customer posting profiles per legal entity.

A customer returns goods from a sales order. The company needs to issue a credit memo that references the original invoice and includes a restocking charge. What should you do?

Use the 'Correct invoice' function on the original sales order to reverse the invoice and then add a restocking charge.

Create a return order and then post a credit memo from the sales order, adding a charge for the restocking fee.

Post a credit note directly against the customer account without referencing the original invoice.

Create a free text invoice with a negative amount and add a restocking charge.

A customer sends a check for an invoice, but the payment amount is slightly less than the invoice amount due to a discount. The company wants to record the payment and write off the small difference as a discount. What should you do?

Create a credit memo for the difference and then settle the payment against the invoice.

Enter the payment in a payment journal and use the 'Settle open transactions' page to apply the payment and enter a write-off amount.

Post the payment as a partial payment and leave the remaining balance open.

Adjust the invoice amount to match the payment before posting the payment.

What is the purpose of billing classifications in Dynamics 365 Finance?

To define customer credit limits

To manage customer bank accounts

To categorize free text invoices for reporting and processing

Microsoft Certified:Dynamics 365 Finance Functional Consultant Associate

Domain 2Objective 1

Implement and Manage Accounts Receivable MB-310 Practice Questions (Page 6)

Part of the Implement accounts receivable, credit, collections, and subscription billing domain, which accounts for 15–20% of the MB-310 exam. Microsoft does not publish an official question count, but from its 100-minute exam (~40–65 total, ~6–13 in this domain), expect 2–4 from this objective — we provide 39 practice questions to prepare you well beyond it. (estimate)

39questions here

8free pages

11concepts

15–20%of the exam

Questions 26–30

26application · medium
Contoso Ltd. has two legal entities: Contoso US and Contoso Canada. A customer, Northwind Traders, operates in both countries and wants to be managed as a single customer record. The accounts receivable manager needs to ensure that invoices posted in either legal entity appear under the same customer account, while still allowing different payment terms and posting profiles per legal entity. What should you configure?
Select an answer first
27application · medium
A customer returns goods from a sales order. The company needs to issue a credit memo that references the original invoice and includes a restocking charge. What should you do?
Select an answer first
28foundation · easy
A customer pays a deposit before a sales order is delivered. In Dynamics 365 Finance, what is this deposit called?
Select an answer first
29application · medium
A customer sends a check for an invoice, but the payment amount is slightly less than the invoice amount due to a discount. The company wants to record the payment and write off the small difference as a discount. What should you do?
Select an answer first
30foundation · easy
What is the purpose of billing classifications in Dynamics 365 Finance?
Select an answer first

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Implement and Manage Accounts Receivable MB-310 Practice Questions (Page 6)

Questions 26–30

A customer returns goods from a sales order. The company needs to issue a credit memo that references the original invoice and includes a restocking charge. What should you do?

A customer pays a deposit before a sales order is delivered. In Dynamics 365 Finance, what is this deposit called?

A customer sends a check for an invoice, but the payment amount is slightly less than the invoice amount due to a discount. The company wants to record the payment and write off the small difference as a discount. What should you do?

What is the purpose of billing classifications in Dynamics 365 Finance?

Keep studying — Implement accounts receivable, credit, collections, and subscription billing