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Use journals in Microsoft Dynamics 365 Business Central Microsoft Quiz Answers
Get Use journals in Microsoft Dynamics 365 Business Central Microsoft Quiz Answers
Do you need to create and post journal entries in Business Central? Then this path is for you. Setting up general journal templates, creating journal transactions including recurring transactions, and posting transactions are all discussed in the modules of this learning path.
This learning path helps prepare you for Exam MB-800: Microsoft Dynamics 365 Business Central Functional Consultant.
Prerequisites:
- Basic knowledge of how to navigate in Business Central
- Understanding of general accounting concepts with regard to managing a general ledger and chart of accounts
Module 1: Set up general journal templates in Dynamics 365 Business Central
With general journals, users can enter data in general ledger accounts and other accounts, such as customer, vendor, and bank accounts. This module will focus on how to set up general journal templates and batches.
Learning objectives:
By the end of this module, you will be able to:
- Explain the purpose and organization of journal templates and journal batches.
- Create general journal templates and general journal batches.
Prerequisites:
Basic understanding of how to navigate the Dynamics 365 Business Central application
This module is part of these learning paths:
Quiz 1: Check your knowledge
Q1. In the bookkeeping department, different users need to work in the same general journal. What best practice should be followed to set this up in Business Central?
- Create a journal template for each user.
- Set up one general journal template and create a journal batch for each user.
- Set up one general journal template and create a standard journal for each user.
- Set up one general journal template and create a source code for each user.
Q2. For the general journal, you want to have document numbers assigned automatically when you are creating a journal line. Additionally, you want that same number to be used for the posted transactions that result from posting the journal. Which is the correct setup to achieve this?
- For the general journal template, leave the No. Series field blank and enter a number series in the Posting No. Series field.
- For the general journal template, enter the same number series in the No. Series field and Posting No. Series field.
- For the general journal template, enter a number series in the No. Series field and leave the Posting No. Series field blank.
- For the general journal template, enter a different number series in the No. Series field and Posting No. Series field.
Q3. Which of the following fields is specific to templates and therefore not defaulted into batches?
- Posting No. Series
- Force Doc. Balance
- Reason Code
- No. Series
Module 2: Create and process journal entries in Dynamics 365 Business Central
If you want to know how to use general journals, then this module can help. This module explains how to use general journals to post information into the general ledger and other accounts. You can also use the general journal to post cost allocations and other adjustments to the accounts, and then you can reverse and correct entries that are incorrect.
Learning objectives:
By the end of this module, you will be able to:
- Create and post general journal entries.
- Use standard journals to save and retrieve general journal lines.
- Preview the posting of general journal lines.
- Reverse journal entries.
Prerequisites:
Basic understanding of how to navigate the Dynamics 365 Business Central application and knowledge of the chart of accounts.
This module is part of these learning paths:
Quiz 1: Check your knowledge
Q1. When posting the general journal, which one of the following statements is true?
- Journal lines with a posting date in the future can never have a balancing account.
- The general journal lines must be visible to be included in the Post function.
- Non-visible general journal lines are posted only when they are balanced.
- The general journal lines always must be balanced by document number and document type.
Q2. To reverse a posted ledger entry, which of the following condition(s) must be met?
- The Journal Batch Name field must be blank.
- The journal template must have the Recurring field enabled.
- Customer and Vendor ledger entries must not be applied.
- The total of the G/L entries must be greater than zero.
Q3. How many standard journals can you save?
- As many as you want
- Eight
- Twelve
- One hundred
Module 3: Post periodic journal entries in Dynamics 365 Business Central
When you frequently need to enter the same journal postings, Dynamics 365 Business Central provides recurring journals so you can post journal lines on a recurring basis. Additionally, when you use recurring journals, you can post cost allocations by using allocation keys that are based on amounts or percentages.
Learning objectives:
By the end of this module, you will be able to:
- Understand how to use recurring journals.
- Use recurring journals with fixed and variable amounts.
- Record accruals by using recurring journals.
Prerequisites:
Basic understanding of how to navigate the Dynamics 365 Business Central application and the chart of accounts.
This module is part of these learning paths:
Quiz 1: Check your knowledge
Q1. On a recurring general journal, which recurring method must use allocations?
- Variable
- Fixed
- Reversing Fixed
- Balance
Q2. What happens when you try to post a recurring journal line with a posting date in the future?
- The line will post, just as any other journal line, with a posting date in the future.
- The line will post, but a warning message is displayed.
- The line won’t post.
- The line is automatically copied to a new journal batch with the posting date used as the Name of the line.
Q3. When should you use the Variable recurring method?
- When posting dates have a variable recurring frequency
- When G/L accounts are variable over different periods
- When the amount is variable over different periods
- When the recurring journal line has a variable allocation key
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