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HybridCloudWorks
AssociateMB-310

Dynamics 365 Finance Functional Consultant Associate

Validate expertise implementing and configuring Dynamics 365 Finance for core financial processes including general ledger, accounts payable/receivable, and financial reporting.

Study Hours
40h
Prep Time
~3 months
Avg. Pass Rate
71%

Topics Covered

Dynamics 365 Finance
General Ledger
AP/AR
Budgeting
Financial Reporting

Skills measured

Official study guide

Microsoft's own objectives, in the order the exam presents them. Each area links to its section on Microsoft Learn. Checked 2026-10-26.

  1. Implement financial management35–40%
    This area on Microsoft Learn

    Design and configure the chart of accounts and financial dimensions

    • Design and configure financial dimensions
    • Design and configure the chart of accounts and main accounts
    • Configure main account categories, ledger account aliases, and balance control accounts
    • Configure legal entity overrides for financial dimensions and main accounts
    • Configure and manage account structures and advanced rules
    • Design and configure financial tags
    • Configure derived dimensions and financial dimension default templates

    Configure ledgers and currencies

    • Configure currency exchange types and rates
    • Configure a currency revaluation posting profile
    • Configure accounting and reporting currencies
    • Configure ledger calendar and fiscal calendar
    • Configure posting layers for ledger transactions
    • Configure and process ledger allocation rules

    Implement and manage journals

    • Configure journal names and vouchers
    • Configure journal controls and posting restriction rules
    • Configure and process periodic journals
    • Configure intercompany accounting
    • Create and modify templates to edit journals in Microsoft Excel
    • Reverse financial transaction entries
    • Create, validate, and post journal entries manually and by using Microsoft Excel
    • Configure batch processing of journals

    Implement and manage cash and bank

    • Create and manage bank groups and bank accounts
    • Configure payment formats
    • Configure bank reconciliations, including advanced bank reconciliations
    • Configure the cash flow forecast setup, including automation setup
    • Perform bank foreign currency revaluation
    • Process manual and advanced bank reconciliations
    • Configure shared payment setup for customers and vendors
    • Configure and process customer and vendor netting

    Perform periodic processes

    • Design and configure periodic closing processes and end-of-year processes, including main accounts, reports, and templates
    • Perform financial consolidation and elimination processes
    • Design and configure financial period workspaces and closing schedules
    • Design and configure legal entity for consolidation and elimination by using Consolidation online
    • Configure and process ledger settlements

    Configure, collect, and report taxes

    • Configure sales tax groups, item sales tax groups, tax codes, settlement periods, authorities, and tax exemptions
    • Configure tax ledger posting groups
    • Settle and post sales tax
    • Configure withholding tax groups, tax codes, and authorities
    • Calculate and adjust sales tax
  2. Implement accounts receivable, credit, collections, and subscription billing15–20%
    This area on Microsoft Learn

    Implement and manage accounts receivable

    • Configure customers and customer groups, including configuring shared customers
    • Configure and process free text invoices, including recurring free text invoices
    • Process sales order invoices and credit memos, including prepayments
    • Configure customer payment methods
    • Configure accounts receivable charges and apply changes to an invoice
    • Configure customer posting profiles
    • Process customer payments
    • Perform accounts receivable foreign currency revaluation
    • Configure billing classification
    • Configure bank accounts for customers
    • Process intercompany invoices

    Manage credit and collections

    • Configure credit management processes
    • Configure collections management processes, including collection activities
    • Manage delinquent customers
    • Configure and process collection letters
    • Configure aging definitions and process aged balances
    • Process and manage credit holds
    • Configure and process customer write-offs
    • Configure and process interest notes

    Configure and manage subscription billing

    • Generate sales documents by using billing schedules
    • Manage billing schedules, including price update and hold termination
    • Configure contract billing, including billing schedule group, item group, and milestone setup
    • Configure and process revenue deferrals and recognition, including charges
    • Configure and process expense deferrals and recognition
    • Process and manage revenue and expense recognition schedules
    • Configure deferral defaults and items deferred by default
  3. Implement and manage accounts payable and expenses10–15%
    This area on Microsoft Learn

    Implement and manage accounts payable

    • Configure invoice validation policies and invoice matching setup
    • Configure vendor groups, vendors, and vendor posting profiles, including configuring shared vendors
    • Process invoices and credit memos, with and without associated purchase orders, including prepayments
    • Configure vendor payment methods
    • Configure accounts payable charges, and apply changes to an invoice
    • Configure vendor bank accounts
    • Perform accounts payable foreign currency revaluation
    • Process the vendor invoice journal
    • Configure and process recurring vendor invoices
    • Process and generate vendor payments, centralized payments, and prepayments
    • Process intercompany vendor invoices

    Configure expense management

    • Configure expense management including categories, per diem options, mileage expenses, intercompany expenses, and personal expenses
    • Create and manage expense reports, including expense report policies
  4. Manage budgeting10–15%
    This area on Microsoft Learn

    Implement basic budgeting

    • Configure budgeting components, including budget models, codes, allocation terms, and transfer rules
    • Create and manage budget register entries
    • Compare budgeted values with actual values

    Configure and manage budget controls

    • Configure budget controls including budget parameters, budget fund availability options, budget control rules and groups, and over-budget permissions
    • Validate budget control on transactions

    Configure and manage budget planning

    • Create and manage budget plans, including scenarios and allocations
    • Configure budget planning process, including organization hierarchy
  5. Manage fixed assets10–15%
    This area on Microsoft Learn

    Implement and manage fixed assets

    • Create and manage fixed asset groups and other fixed asset attributes
    • Configure fixed asset posting profiles
    • Configure fixed asset books, including derived books
    • Configure depreciation profiles
    • Create and manage fixed assets
    • Configure mapping for fixed asset groups and books

    Process fixed asset transactions

    • Process fixed asset disposal (sales) by using free text invoices
    • Process fixed asset acquisitions by using purchase orders, journals, inventory journals, and projects
    • Create fixed asset budgets and transfer the budgets to the budgeting module
    • Process fixed asset depreciation, including multi-company
    • Process fixed asset split, reclassification, transfer, disposals and other transactions by using the fixed asset journal