MB7-515 - Microsoft Dynamics NAV 5.0 Financials
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The Adjust Exchange Rates batch job posts the exchange adjustments related to customer and vendor ledger entries to which G/L accounts?
Unrealized Gains and Unrealized Losses
You have set up a bank account with the USD currency code. What rules apply in relation to vendor payments made from this bank account?
Only payment lines with a currency code of USD will post.
Which of the following statements is TRUE about dimensions?
Only global dimensions are stored directly on the G/L entries.
For LCY Conversion Rounding to take place, the following accounts need to be set up in the Currency Card:
Conv. LCY Rounding Debit Account, Conv. LCY Rounding Credit Account
When using the date compression option in the analysis view card, the Posting Date for the compressed entries will be the:
First date of the compressed period.
General Business Posting Groups are: Choose the 2 that apply.
Set up in the Financial Management area
Assigned to Vendor Cards
To reverse a Customer Ledger Entry, all of the following statements are true except:
Bank Ledger Entries must be closed by reconciliation.
Which of the following statements are correct for budgets? Choose the 2 that apply.
You can select which values to show as lines and which values to show as columns.
The Copy G/L Budget function includes an adjustment factor.
Choosing the "Limited" option in Dimension Combination Setup allows which of the following?
The Dimension combination is allowed in only certain circumstances, and the values are defined.
When you have selected the Recurring Method of Reversing Fixed on a recurring journal line, the program will post a reversing entry on what date?
The date after the Posting Date on the journal line
It is possible to unapply Customer Ledger Entries from which of the following windows? Choose the 2 that apply.
Customer Ledger Entries
Detailed Cust. Ledger Entries
In the Apply Customer Entries window, which of the tabs must contain an entry so that you are allowed to post?
What is the Debit/Credit field on the Chart of Accounts Card used for?
To establish the normal type of transactions posted to this account.
Dimension Priorities for Sales Journal entries are set as "2" for the Item table and "1" for the Customer table. What is the effect?
If the Dimension code has a value from the Customer Table and the Item Table, then the Customer table takes priority.
If you want to see the dimensions assigned to the entries in a specific G/L account, you must use the:
G/L Entries Dimension Overview window
In addition to summarizing per Vendor, you can also select what other option in the Suggest Vendor Payment window?
Summarize per Dimension
What information is entered in the Totaling field of a row in an Account Schedule if the Totaling Type field has the "Total Accounts" option selected?
The G/L Account Number for an End Total or Total Account.
Your client has posted an application of an invoice entry and a payment entry. A payment discount was possible but was not calculated by the program when the entries were applied. What is the most likely reason for the payment discount being ignored?
The client selected the Invoice entry as the Applying entry instead of the Payment entry.
If you choose the "Variable" Recurring Method on a Recurring Journal, which one of the following describes how Microsoft Dynamics NAV will process the journal?
The Amount field on the journal will be changed to zero after posting.
You are creating an account schedule column that displays the net change in account balances for the fiscal year in which the account schedule period ends. In the Column Layout, you select a Column Type of:
Entire Fiscal Year
Which RIM Toolkit elements help to structure new data? Choose the 2 that apply.
Industry-specific setup data
To post VAT adjustment entries when payment discounts are granted, you must click the Adjust for Payment Disc. field in the General Ledger Setup window and:
Place a check mark in the Adjust for Payment Discount field in the VAT Posting Setup window for the combinations you want to adjust.
In order to reverse Vendor Ledger Entries, the following must be true: Choose the 3 that apply.
The Vendor Ledger Entries must not already have been reversed.
The total amount of G/L Entries must equal zero.
Only entries with the Journal Batch Name field filled in can be reversed.
What is the result of blocking a Dimension Code?
Prevents further posting using the Dimension code
How are menus assigned to users?
While in the Navigation Pane Designer, right-click the menu button of the menu that you want to assign, and then click Assign Users.
Which of the following is TRUE of closed VAT Entries?
VAT Entries will only be closed if you post the VAT settlement.
When you run the Adjust Exchange Rate batch job, which of the three date fields on the Options tab of the batch job request form is used to select the Currency Exchange Rates entry to be used in the update?
You want to compare actual and budgeted amounts for a single G/L account over several time intervals. This information can be found in the:
G/L Account Balance/Budget window
A customer has several invoices and credit memos so that the customer's balance is now negative. You have entered a Customer as the Account Type in a Cash Receipt Journal and applied all the credit memos and invoices. What else must occur so that when you post the journal it will bring the customer balance to 0. Choose the 3 that apply.
The Amount field must be positive in the Cash Receipt Journal window.
The Document Type must be Refund in the Cash Receipt Journal window.
The total amount for the applied credit memos must be larger than the total applied invoice amounts.
The Adjust Exchange Rates process will not update which of the following records?
Item Sales Price
Each department in a company prepares a department budget but not all departments have access to Microsoft Dynamics NAV. How can you create both the consolidated and department budgets in Microsoft Dynamics NAV?
The department budgets must be prepared in Excel and then imported into Microsoft Dynamics NAV. To import the budgets use the "Import from Excel" function and select the "Add entries" option.
What is the minimum acceptable level of security that requires that each user is assigned an ID and a password?
Database level security
The number of G/L Accounts that you can specify in the Currency window in relation to the Additional Reporting Currency is:
You are about to implement a new Microsoft Dynamics NAV installation by using the RIM Toolkit. The customer is a small furniture manufacturing company with two years in business. The company has not used an ERP system before, and legacy data is available in Microsoft Excel format. Which of the following overall RIM processes do you follow to achieve the fastest implementation?
Have the customer complete a "Furniture" setup questionnaire, create a new company based on the "Furniture" company type, import and apply questionnaire answers, prepare data templates, and migrate legacy data by means of Excel.
The primary balance sheet G/L Account associated with the Customer Posting Group is:
What criteria must be satisfied before you can post the bank reconciliation?
The Statement Ending Balance must equal the Total Balance field and the Total Difference field must equal the sum of all reconciliation lines with the Type of "Difference."
In order to suggest the lines for the Bank Reconciliation, what must you do?
Enter the Statement Date and the Statement Ending Balance and then use the Suggest Bank Acc. Recon. Lines function.
It is possible to unapply Vendor Ledger Entries from which forms? Choose the 2 that apply.
Vendor Ledger Entries
Detailed Vendor Ledger Entries
One of the consequences of closing a fiscal year is that you:
Cannot reopen the year.
In regard to applying entries after posting, which of the following statements is TRUE?
It is strongly recommended that you only include one entry with Document Type = Payment or Refund when you apply already-posted entries.
You are about to post payment of a vendor's invoice, two days past the payment discount date. Your vendor has agreed to still give you the discount. What must you do to have Microsoft Dynamics NAV accept the discounted amount when you post the payment?
Modify the Pmt. Discount Date field on the vendor ledger entry.
What field must equal zero before you can post a General Journal?
What technique does Microsoft Dynamics NAV use to allow multiple users access to the database at the same time?
In the General Ledger Setup window and the Currencies window, you define the maximum VAT difference allowed for LCY and each foreign currency. Do you need to do more before you can enter VAT manually in a purchase order document?
Yes, you have to put a check mark in the Allow VAT Difference field in the Purchases & Payables Setup window.
Which of the following is TRUE in relation to account schedules that do not have an analysis view assigned?
The first two Dimension Totaling fields in the account schedule rows are the global dimensions.
You have inserted a check mark in the "Calculate Interest" field for the reminder terms code REMINT. What else do you need to do to make sure the program calculates interest on reminders?
Enter a valid finance charge terms code on the cards for customers that are attached to the REMINT code.
Your client wants the program to automatically assign a set of dimensions to every transaction posted for a specific customer. This is achieved by setting up:
London Postmasters has limited funds available for paying its vendors, therefore; on each vendor card, the company has entered a number from 1 to 3 in the "Priority" field. What have they specified?
The sorting order for the Suggest Vendor Payments batch job
You have posted a cash payment of 290 which appears incorrectly on the bank statement as 209. When completing the bank reconciliation, how can you record this difference?
Enter the bank statement amount in a reconciliation line with the Type of "Difference".
Which dimension feature needs to be set up to prevent the posting of the "LARGE" Business Group dimension value with the "HOME" Customer Group dimension value?
Dimension Combinations and Dimension Value Combinations