Does the solution meet the goal?

Question Set 1

Note: This question is part of a series of questions that present the same scenario. Each question in the series contains a unique solution that might meet the stated goals. Some question sets might have more than one correct solution, while others might not have a correct solution.

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You are configuring the year-end setup in Dynamics 365 Finance.

You need to configure the year-end setup to meet the following requirements:

– The accounting adjustments that are received in the first quarter must be able to be posted into the previous year’s Period 13.

– The fiscal year closing can be run again, but only the most recent closing entry will remain in the transactions.

– All dimensions from profit and loss must carry over into the retained earnings.

– All future and previous periods must have an On Hold status.

Solution:

– Configure General ledger parameters.

– Set the Delete close of year transactions option to Yes .

– Set the Create closing transactions during transfer option to Yes .

– Set the Fiscal year status to permanently closed option to No .

– Define the Year-end close template.

– Designate a retained earnings main account for each legal entity.

– Set the Financial dimensions will be used on the Opening transactions option to No .

– Set the Transfer profit and loss dimensions’ option to Close All .

– Set future Ledger periods to a status of On Hold .

Does the solution meet the goal?
A . Yes
B . No

View Answer

Answer: A

Explanation:

Reference:

https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/general-ledger/year-end-close