MB 310 : Microsoft Dynamics 365 Finance

Duration : 5 Days (40 Hours)

MB 310 : Microsoft Dynamics 365 Finance Course Overview:

The MB 310: Microsoft Dynamics 365 Finance course is designed to provide comprehensive training on the financial aspects of Dynamics 365. The course covers a range of topics including the configuration and utilization of essential financial components, accounts payable, accounts receivable, collections, budgeting, fixed assets, and additional functionality.
Participants in this course will learn how to configure and utilize the financial modules of Dynamics 365 effectively. They will gain knowledge and skills in setting up and managing accounts payable processes, including vendor management, invoice processing, and payment processing. The course also covers accounts receivable processes, such as customer management, invoice creation, and collections.
Furthermore, participants will learn about budgeting processes within Dynamics 365, including creating and managing budgets for different business units and departments. The course also delves into fixed asset management, covering topics such as asset acquisition, depreciation, disposal, and reporting.

Audience Profile

A Dynamics 365 for Finance and Operations Functional Consultant is a key member of the project team responsible for implementing and configuring Dynamics 365 solutions for financial and operational management. Their role involves various tasks and responsibilities, including:

  • Discovery and Requirement Gathering: The Functional Consultant conducts discovery sessions with stakeholders and subject matter experts to understand business processes, capture requirements, and identify the needs of the organization.
  • Requirement Translation: They translate the captured requirements into functional specifications, ensuring alignment with industry best practices and Dynamics 365 capabilities.
  • Configuration: Leveraging the out-of-the-box capabilities of Dynamics 365, the Functional Consultant configures the solution and applications to meet the specific business requirements. This includes setting up entities, data structures, workflows, business rules, and customizations using codeless extensibility.
  • Integration: They collaborate with technical consultants and developers to design and implement integrations between Dynamics 365 and other applications or services. This involves ensuring seamless data flow, system interoperability, and leveraging appropriate integration tools and technologies.
  • Testing and Validation: The Functional Consultant participates in testing activities, including unit testing, integration testing, and user acceptance testing, to ensure the solution meets the defined requirements and functions as intended.
  • Training and Documentation: They provide training and support to end-users, enabling them to effectively utilize the implemented solution. Additionally, they create documentation, user guides, and knowledge transfer materials to facilitate user adoption and ongoing support.
  • Continuous Learning: Keeping up with the latest updates, features, and functionalities of Dynamics 365 is essential for a Functional Consultant. They actively engage in continuous learning through Microsoft resources, community forums, and professional development opportunities.

Job role: Functional Consultant

Benefits of taking MB 310 : Microsoft Dynamics 365 Finance Training

Here are some of the benefits of taking MB-310: Microsoft Dynamics 365 Finance Training:

Enhanced Career Prospects

  • Expand your career options: Gaining the MB-310 certification opens doors to a wider range of employment opportunities in finance, accounting, and business operations domains.
  • Increase your earning potential: Certified professionals with MB-310 credentials often command higher salaries compared to their non-certified counterparts.
  • Stand out in the job market: Differentiate yourself from competitors by demonstrating your expertise in Microsoft Dynamics 365 Finance and its application in real-world financial scenarios.

Enhanced Professional Competence

  • Develop practical skills: Acquire hands-on proficiency in configuring, customizing, and managing Microsoft Dynamics 365 Finance to streamline financial processes.
  • Gain in-depth knowledge: Expand your understanding of general ledger, accounts receivable and payable, fixed assets, budgeting, revenue recognition, consolidation and elimination, credit and collections, cash and bank management, and expense management within Microsoft Dynamics 365 Finance.
  • Become a finance expert: Equip yourself with the expertise to design, implement, and manage financial systems that enhance business efficiency and decision-making.

Enhanced Business Value

  • Improve financial performance: Contribute to improved financial performance, cost reduction, and profitability by implementing and optimizing Microsoft Dynamics 365 Finance.
  • Streamline financial processes: Automate repetitive financial tasks, eliminate manual workarounds, and streamline processes to enhance efficiency and reduce costs.
  • Gain insights into financial data: Leverage data analytics and reporting tools in Microsoft Dynamics 365 Finance to gain deeper insights into financial performance, trends, and identify areas for improvement.
  • Make informed financial decisions: Utilize data-driven insights to make informed decisions about financial strategies, resource allocation, and process improvement.
  • Enhance financial compliance: Ensure compliance with financial regulations and internal control standards by implementing and maintaining proper financial controls within Microsoft Dynamics 365 Finance.

Overall, taking MB-310: Microsoft Dynamics 365 Finance Training can significantly enhance your career prospects, professional competence, and the value you bring to your organization’s financial processes.

Get started with Dynamics 365 Finance
  • The benefits of Dynamics 365 Finance.
  • An overview of features in Finance.
  • Different types of currencies in Finance.
  • The concept of triangulation currency.
  • How to set up legal entity currencies and conversions.
  • How to configure exchange rate providers.
  • How to import exchange rates from providers.
  • Differentiate between ledger and fiscal calendars.
  • Configure and set up fiscal calendars, years, and periods.
  • Create and use date intervals.
  • Identify the required components for chart of accounts
  • Define and configure the chart of accounts
  • Define and configure the financial dimensions and dimension sets
  • Configure chart of accounts, main accounts, categories, templates, ledger account alias and balance control
  • Configure account structures and advanced rules
  • Discover different types of journals and their setup.
  • Learn about ledger and posting setup.
  • Learn how to set up and use journals.
  • Learn how to reverse journal posting.
  • Learn how to set up batch transfer rules.
  • General ledger processes.
  • Balance control accounts.
  • Journal controls.
  • Voucher templates.
  • Ledger settlements.
  • Set up inter-company accounting
  • Use inter-company accounting to post journals between two different legal entities
  • Configure and use accruals.
  • Configure and use allocations.
  • Configure financial period close.
  • Reconcile banks.
  • Perform periodic closing and year closing processes.
  • Prepare periodic filings.
  • Configure and work with vendor 1099 processes.
  • Run foreign currency revaluation processes.
  • Perform financial consolidation and elimination processes.
  • Process end of year tax reporting.
  • Different types of reports and inquiries in finance and operations apps
  • Financial reporting
  • Configuring finance and operations apps for Microsoft Power Platform
  • Generating and consuming inquiries and reports
  • Create and configure banks.
  • Create and configure bank layouts.
  • Configure cash and bank management parameters.
  • Set up vendor and customer banks.
  • Configure cash flow forecasts and reports.
  • Learn about regional tax reporting capabilities.
  • Configure tax components.
  • Configure Accounts receivable components.
  • Create and maintain a customer.
  • Configure customer payments.
  • Set up payment calendars and calendar rules.
  • Set up customer posting profiles.
  • Configure accounts receivable charges.
  • Create free text invoices and record customer payments.
  • Distribute funds by using accounting distributions.
  • Configure recurring invoices.
  • Use reversals in Accounts receivable.
  • Understand revenue recognition.
  • Configure credit and collections components.
  • Configure aging reports, customer pools, collection agents, and aging period definitions.
  • Set up and manage interests.
  • Set up and manage collection letters.
  • How to use customer account statements.
  • How to process collections.
  • How to use the credit management feature.
  • Configure accounts payable components.
  • Create and maintain a vendor.
  • Configure vendor payments.
  • Set up vendor posting profiles.
  • Configure accounts payable charges.
  • Record invoices and process payments.
  • Manage and apply prepayments.
  • Settle transactions and undo settlements.
  • Distribute funds by using accounting distributions.
  • Configure invoice validation policies.
  • Learn about Expense management capabilities.
  • Discover Expense management features.
  • Review considerations for planning to use the Expense management module in Project Operations.
  • Discover the Expense management workspace.
  • Learn how to turn on the Expense reports re-imagined feature.
  • Review the Expense management parameters.
  • Learn about workflow functionality for expense management.
  • Set up expense policies, and evaluate policies using the Audit workbench.
  • Set up mileage expense options.
  • Set up credit card transaction processing and import credit transactions.
  • Review expense report policies and per diem rules.
  • Create and maintain an expense report.
  • Learn about inter-company expenses.
  • Learn how to post, approve, and delegate expense reports.
  • Discover reporting options for expense management.
  • Create a travel requisition.
  • Review travel requisition options.
  • Learn about the travel requisition approval process.
  • Configure basic budgeting components.
  • Configure budget control components.
  • Use inquires and reports.
  • Create and manage budget register entries.

Configure budget planning components

  • Configure fixed assets components.
  • Configure fixed assets parameters.
  • Enable fixed assets integration with purchasing.
  • Create fixed assets.
  • Perform fixed asset acquisition
  • Perform fixed asset depreciation
  • Perform fixed asset disposal

MB 310 : Microsoft Dynamics 365 Finance Course Prerequisites:

Before attending this course, students must have:

  • Basic accounting skills
  • Core competencies in Dynamics 365 Core
Q: What is MB 310: Microsoft Dynamics 365 Finance?

A: MB 310 is a training program offered by Microsoft that focuses on providing individuals with the knowledge and skills required to effectively use Microsoft Dynamics 365 Finance. This training covers various aspects of financial management and equips participants with the tools to optimize financial processes, streamline budgeting and forecasting, and enhance financial reporting using Dynamics 365 Finance.

A: The MB 310 training program is designed for finance professionals, accountants, and individuals interested in learning how to leverage Microsoft Dynamics 365 Finance to optimize their financial management processes. Whether you are new to Dynamics 365 or have some experience, this training will help you gain a deeper understanding of the finance capabilities of the platform.

A: The MB 310 training covers a range of topics, including:

  • Introduction to Microsoft Dynamics 365 Finance
  • Configuring and using financial management features
  • Managing budgeting and forecasting processes
  • Financial reporting and analytics
  • Cash and bank management
  • Accounts payable and accounts receivable management

A: There are no specific prerequisites to attend the MB 310 training. However, having a basic understanding of financial management concepts and experience in accounting or finance roles can be beneficial.

A: By completing this MB310 training program, you will:

  • Gain a comprehensive understanding of Microsoft Dynamics 365 Finance and its capabilities.
  • Learn how to configure and utilize financial management features to optimize financial processes.
  • Enhance your budgeting and forecasting skills to improve financial planning and decision-making.
  • Acquire knowledge of financial reporting and analytics to gain insights and make data-driven decisions.
  • Understand how to effectively manage cash and bank operations.
  • Learn best practices for managing accounts payable and accounts receivable.

A: The MB 310 training can be delivered through various methods, including in-person instructor-led training, virtual instructor-led training, or through online self-paced modules. The specific delivery method may vary depending on the training provider or platform you choose.

A: Yes, after completing the MB 310 training, you have the option to take the Microsoft certification exam MB-310: Microsoft Dynamics 365 Finance. This exam validates your knowledge and skills in using Dynamics 365 Finance for financial management. However, passing the exam is not mandatory to complete the training program.

A: Yes, upon passing the MB 310 certification exam, you will earn the Microsoft Certified: Dynamics 365 Finance Functional Consultant Associate certification. This certification demonstrates your expertise in Dynamics 365 Finance and validates your ability to optimize financial processes and drive financial success.

A: The duration of the training program can vary depending on the delivery method and the depth of coverage. In-person or virtual instructor-led training programs may span several days, covering the comprehensive content. Self-paced online modules offer flexibility, allowing learners to progress at their own pace.

A: To enroll in the MB 310 training program, click Enroll Now button.

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Training Exclusives

This course comes with following benefits:

  • Practice Labs.
  • Get Trained by Microsoft Certified Trainers (MCT).
  • Access to the recordings of your class sessions for 90 days.
  • Digital courseware
  • Experience 24*7 learner support.

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