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CERTIFICATION EXAM STUDY GUIDE EXAM MB-300: MICROSOFT DYNAMICS 365 UNIFIED OPERATIONS CORE

This study guide contains all exam prep content, including walkthroughs, practice exercises and sample questions following core courses that are recommended for the MB-300 certification.

Murray Fife

EXAM MB-300: MICROSOFT DYNAMICS 365 UNIFIED OPERATIONS CORE Murray Fife

DYNAMICS COMPANIONS CERTIFICATION EXAM STUDY GUIDE

EXAM MB-300: MICROSOFT DYNAMICS 365 UNIFIED OPERATIONS CORE

Preface What You Need for this Guide All the examples shown in this blueprint were done with the Microsoft Dynamics 365 Finance & Operations virtual machine image that was downloaded from the Lifecycle Services site. If you don't have your own installation of Microsoft Dynamics 365 Finance & Operations, you can also use the images found on the Microsoft Learning Download Center or deployed through Lifecycle Services. The following list of software from the virtual image was leveraged within this guide: Microsoft Dynamics 365 for Finance & Operations Even though all the preceding software was used during the development and testing of the recipes in this book, they may also work on earlier versions of the software with minor tweaks and adjustments and should also work on later versions without any changes.

Errata Although we have taken every care to ensure the accuracy of our content, mistakes do happen. If you find a mistake in one of our books—maybe a mistake in the text or the code—we would be grateful if you would report this to us. By doing so, you can save other readers from frustration and help us improve subsequent versions of this book. If you find any errata, please report them by emailing editor@dynamicscompanions.com.

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DYNAMICS COMPANIONS CERTIFICATION EXAM STUDY GUIDE

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DYNAMICS COMPANIONS CERTIFICATION EXAM STUDY GUIDE

EXAM MB-300: MICROSOFT DYNAMICS 365 UNIFIED OPERATIONS CORE

Table of Contents Preface ...................................................................................................................................................................................................... 1 Table of Contents ................................................................................................................................................................................. 3 Exam MB-300: Microsoft Dynamics 365 Unified Operations Core ................................................................................ 10 Skills measured......................................................................................................................................................................... 10 Course MB-300T01-A: Core common features of Dynamics 365 for Finance and Operations ......................... 13 Module 1: Get Started with Dynamics 365 for Finance and Operations ................................................................ 14 Introduction to Dynamics 365 for Finance and Operations ........................................................................................ 15 Introduction ............................................................................................................................................................................... 15 Industry focus in Finance and Operations ..................................................................................................................... 16 Financial management .......................................................................................................................................................... 18 Employee management ........................................................................................................................................................ 20 Supply chain management .................................................................................................................................................. 22 Check your knowledge.......................................................................................................................................................... 24 Summary ..................................................................................................................................................................................... 24 Module 2: Get Started with Lifecycle Services .................................................................................................................. 26 Get started with Lifecycle Services for Dynamics 365 for Finance and Operations ........................................... 27 Introduction ............................................................................................................................................................................... 27 Understand the functionality and tools of LCS ........................................................................................................... 28 LCS security................................................................................................................................................................................ 34 Reuse existing assets, copy and share data .................................................................................................................. 35 Perform actions in the Asset library ................................................................................................................................. 38 Work with the Task recorder .............................................................................................................................................. 40 Business process modeler (BPM) ...................................................................................................................................... 47 LCS issue search and support............................................................................................................................................. 49 Get product updates from LCS .......................................................................................................................................... 53 Exercise - use the Task recorder to create and edit a recording .......................................................................... 54 Exercise - create a business process in the business process modeler ............................................................. 56 Exercise - create a support incident................................................................................................................................. 58 Check your knowledge.......................................................................................................................................................... 59 Summary ..................................................................................................................................................................................... 60 www.dynamicscompanions.com Dynamics Companions

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DYNAMICS COMPANIONS CERTIFICATION EXAM STUDY GUIDE

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Module 3: Use Lifecycle Services to Design and Plan .................................................................................................... 62 Design and plan an implementation of Dynamics 365 for Finance and Operations ........................................ 63 Introduction ............................................................................................................................................................................... 63 Use implementation methodologies for a successful implementation ............................................................. 64 Cloud implementation – analysis ...................................................................................................................................... 65 Cloud implementation - design and develop .............................................................................................................. 67 Cloud implementation – test .............................................................................................................................................. 69 Cloud implementation - deploy and operate .............................................................................................................. 71 On-premises implementation – analysis ........................................................................................................................ 72 On-premises implementation - design and develop ................................................................................................ 74 On-premises implementation - test, deploy and operate ...................................................................................... 75 Gathering and analyzing the requirements .................................................................................................................. 77 Create functional design documents (FDD).................................................................................................................. 79 Check your knowledge.......................................................................................................................................................... 82 Summary ..................................................................................................................................................................................... 83 Module 4: Overview of Reporting and Analytics ............................................................................................................. 84 Work with analytics and reporting in Finance and Operations ................................................................................. 85 Introduction to working with analytics and reporting in Finance and Operations ....................................... 85 Understand different types of reports and inquiries................................................................................................. 86 Financial reporting .................................................................................................................................................................. 87 Find inquiries and reports .................................................................................................................................................... 93 Configure Finance and Operations for Microsoft Power Platform ...................................................................... 94 Exercise - Generate and explore a financial report .................................................................................................... 98 Exercise - Add account properties to a report design............................................................................................ 100 Exercise - Create a multidimensional report by using a reporting tree .......................................................... 102 Exercise - Create a consolidated report by using an organization hierarchy................................................ 103 Exercise - Create a side-by-side departmental report............................................................................................ 104 Exercise – Print customer and vendor account statements.................................................................................. 105 Work with analytics and reporting in Finance and Operations knowledge check ...................................... 106 Summary ................................................................................................................................................................................... 106 Module 5: Build and Test Mobile Apps ............................................................................................................................. 107 Design and build mobile apps for Dynamics 365 for Finance and Operations ................................................. 108 Introduction ............................................................................................................................................................................. 108 www.dynamicscompanions.com Dynamics Companions

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DYNAMICS COMPANIONS CERTIFICATION EXAM STUDY GUIDE

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Overview of the Dynamics 365 Unified Operations mobile app ........................................................................ 109 Page design guidelines ....................................................................................................................................................... 113 Action design guidelines .................................................................................................................................................... 115 Form design requirements ................................................................................................................................................ 117 Design considerations ......................................................................................................................................................... 117 Understand use cases for mobile apps ........................................................................................................................ 118 Get the Dynamics 365 Unified Operations mobile app ......................................................................................... 120 Build and use mobile apps ................................................................................................................................................ 121 Exercise - Create and test a mobile app ...................................................................................................................... 121 Check your knowledge........................................................................................................................................................ 122 Summary ................................................................................................................................................................................... 123 Module 6: Create, Maintain and Use Workflows ........................................................................................................... 124 Work with workflows in Dynamics 365 for Finance and Operations ..................................................................... 125 Introduction ............................................................................................................................................................................. 125 Workflow types for business processes ....................................................................................................................... 126 Create and set up workflows ............................................................................................................................................ 134 Assign users to workflow elements................................................................................................................................ 142 Use work items functionality ............................................................................................................................................ 146 Exercise - Create a purchase requisition workflow .................................................................................................. 147 Check your knowledge........................................................................................................................................................ 148 Summary ................................................................................................................................................................................... 149 Course MB-300T02-A: Core configuration in Dynamics 365 for Finance and Operations ................................ 150 Module 1: Set Up and Configure Legal Entities ............................................................................................................. 151 Plan and implement legal entities in Dynamics 365 for Finance and Operations ............................................ 152 Introduction ............................................................................................................................................................................. 152 Create a legal entity ............................................................................................................................................................. 153 Create a number sequence ............................................................................................................................................... 154 Understand organizational hierarchies and operating units ............................................................................... 156 Plan your organizational hierarchy................................................................................................................................. 158 Decide whether to model internal organizations as legal entities or operating units .............................. 158 Decide whether to model internal organizations as legal entities or operating units (cont.) ................ 162 Best practices for modeling organizations and hierarchies ................................................................................. 164 Apply purposes and policies ............................................................................................................................................. 165 www.dynamicscompanions.com Dynamics Companions

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Distributed order management (DOM) policy .......................................................................................................... 166 Configure calendars and date intervals ........................................................................................................................ 167 Exercise - Configure a new legal entity ........................................................................................................................ 170 Exercise - Create an operating unit ................................................................................................................................ 171 Exercise - Create an organization hierarchy ............................................................................................................... 172 Exercise - Set up a number sequence ........................................................................................................................... 172 Check your knowledge........................................................................................................................................................ 173 Summary ................................................................................................................................................................................... 174 Module 2: Manage users and security ............................................................................................................................... 175 Plan and implement security in Dynamics 365 for Finance and Operations ...................................................... 176 Introduction ............................................................................................................................................................................. 176 Understand the security architecture ............................................................................................................................ 177 Manage users and security ................................................................................................................................................ 180 Set up and apply segregation of duties ....................................................................................................................... 181 Run security reports ............................................................................................................................................................. 182 Exercise - Create a new user and assign a security role ........................................................................................ 187 Exercise - Import a user and assign security role ..................................................................................................... 187 Exercise - Import users in bulk as a batch job ........................................................................................................... 188 Exercise - Assign users to security roles dynamically ............................................................................................. 189 Exercise - Exclude users from a role assignment ...................................................................................................... 189 Exercise - Set up segregation of duties ........................................................................................................................ 190 Check your knowledge........................................................................................................................................................ 191 Summary ................................................................................................................................................................................... 192 Module 3: Perform Personalization ..................................................................................................................................... 193 Personalize Dynamics 365 for Finance and Operations .............................................................................................. 194 Introduction ............................................................................................................................................................................. 194 Understand the differences between customization and personalization ..................................................... 194 Apply user options ................................................................................................................................................................ 195 Implicit personalization ....................................................................................................................................................... 200 Explicit personalization ....................................................................................................................................................... 201 Demonstration - work with personalization ............................................................................................................... 203 Personalize a workspace..................................................................................................................................................... 206 Personalize a dashboard .................................................................................................................................................... 209 www.dynamicscompanions.com Dynamics Companions

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Personalize inventory dimensions .................................................................................................................................. 210 Administrate personalization............................................................................................................................................ 211 Create and maintain record templates ......................................................................................................................... 214 Exercise - Personalize user options ................................................................................................................................ 215 Exercise - Create and use a record template ............................................................................................................. 216 Check your knowledge........................................................................................................................................................ 217 Summary ................................................................................................................................................................................... 217 Module 4: Implement Common Integration Features ................................................................................................. 219 Implement common integration features in Dynamics 365 for Finance and Operations ............................. 220 Introduction ............................................................................................................................................................................. 220 Microsoft Office integration in Finance and Operations ....................................................................................... 221 Excel workbook designer ................................................................................................................................................... 227 Document management .................................................................................................................................................... 228 Configure email (SMTP/Exchange) ................................................................................................................................. 230 Create an email template ................................................................................................................................................... 235 Power BI in Finance and Operations.............................................................................................................................. 236 Set up network printing ...................................................................................................................................................... 239 Integrate data from multiple sources into Common Data Service for Apps ................................................. 245 Exercise â€“ Work with Microsoft Office integration .................................................................................................. 246 Exercise - Use the Excel workbook designer .............................................................................................................. 249 Check your knowledge........................................................................................................................................................ 250 Summary ................................................................................................................................................................................... 251 Course MB-300T03-A: Data migration and preparing for go-live with Dynamics 365 for Finance and Operations.......................................................................................................................................................................................... 252 Module 1: Prepare Data for Migration and Migrate Data.......................................................................................... 253 Prepare data for migration to Dynamics 365 for Finance and Operations ......................................................... 254 Introduction ............................................................................................................................................................................. 254 Select a data integration (import/export) strategy .................................................................................................. 255 Common migration scenarios and tools...................................................................................................................... 257 Bring your own database (BYOD) ................................................................................................................................... 258 Test a data migration and validate output ................................................................................................................. 264 Check your knowledge........................................................................................................................................................ 270 Summary ................................................................................................................................................................................... 271

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Module 2: Use Data Management ...................................................................................................................................... 272 Work with data management in Dynamics 365 for Finance and Operations .................................................... 273 Introduction ............................................................................................................................................................................. 273 Data management concepts............................................................................................................................................. 274 Use data entities for data management and integration ...................................................................................... 277 Work with the Data management workspace ........................................................................................................... 280 Using Standard and Enhanced views for tiles ............................................................................................................ 288 Use templates in data management ............................................................................................................................. 291 Export, import, and copy data into a legal entity ..................................................................................................... 296 Exercise â€“ Explore the Data management workspace ............................................................................................ 298 Exercise - Export and import data to Finance and Operations ........................................................................... 299 Check your knowledge........................................................................................................................................................ 301 Summary ................................................................................................................................................................................... 302 Module 3: Perform User Acceptance Testing.................................................................................................................. 303 Perform user acceptance testing (UAT) in Dynamics 365 for Finance and Operations ................................. 304 Introduction ............................................................................................................................................................................. 304 Create user acceptance test libraries by using task recordings and BPM ...................................................... 305 Record test cases and save to BPM ............................................................................................................................... 306 Synchronize and configure your test plan in Azure DevOps ............................................................................... 311 Run your tests ......................................................................................................................................................................... 311 Data task automation .......................................................................................................................................................... 313 Exercise - Build test scripts to test business functionality..................................................................................... 314 Check your knowledge........................................................................................................................................................ 317 Summary ................................................................................................................................................................................... 318 Module 4: Prepare to Go Live ................................................................................................................................................ 319 Prepare to go-live with Dynamics 365 for Finance and Operations ...................................................................... 320 Introduction ............................................................................................................................................................................. 320 Understand the go-live process ...................................................................................................................................... 321 Complete the LCS methodology ..................................................................................................................................... 323 Perform user acceptance testing (UAT) for your solution..................................................................................... 323 FastTrack go-live assessment ........................................................................................................................................... 324 Request the production environment ........................................................................................................................... 325 Check your knowledge........................................................................................................................................................ 326 www.dynamicscompanions.com Dynamics Companions

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Summary ................................................................................................................................................................................... 327

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DYNAMICS COMPANIONS CERTIFICATION EXAM STUDY GUIDE

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Exam MB-300: Microsoft Dynamics 365 Unified Operations Core Link: https://www.microsoft.com/en-us/learning/exam-MB-300.aspx Candidates for this exam are functional consultants who analyze business requirements and translates those requirements into fully realized business processes and solutions that implement industry best practices. Candidates serve as a key resource in implementing and configuring applications to meet business requirements. Candidates for this exam have a fundamental understanding of accounting principles and financial operations of businesses, customer service, field service, manufacturing, retail, and supply chain management concepts. Candidates for this exam typically specialize in one or more feature sets of Microsoft Dynamics 365 Finance and Operations, including finance, manufacturing, and supply chain management.

Skills measured

Use common functionality and implementation tools (20-25%) Identify common Microsoft Dynamics 365 Finance and Operations features and functionality •

determine when to use workspaces

•

identify use cases for mobile workspaces, Power Apps, and Flow

•

identify and differentiate between the global address book and other address books

•

determine when and how to use the Data Expansion Tool

•

demonstrate Work Items functionality

•

demonstrate Microsoft Dynamics 365 Finance and Operations navigation techniques

•

identify Inquiry and Report types available in a default installation

Implement Lifecycle Services (LCS) tools •

identify opportunities to re-use existing assists

•

analyze Business Process Modeler results and identify gaps in functionality

•

use the LCS tools including Issue search and analyze results

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DYNAMICS COMPANIONS CERTIFICATION EXAM STUDY GUIDE

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Configure security, processes, and options (45-50%) Implement security •

identify and distinguish between standard Finance and Operations security roles

•

distinguish between duties, privileges, and permissions

•

assign users to security roles based on given scenarios

Design and create workflows •

identify opportunities for automation and controls based on customer workflows

•

configure workflow properties and elements

•

troubleshoot workflows

Configure options •

set up and configure legal entities

•

configure base number sequences

•

import or create postal data

•

configure the calendars and date intervals

•

configure units of measure and conversions

•

configure posting profiles and definitions

•

create organization hierarchies

•

apply purposes and policies

•

describe and apply user options

Implement Microsoft Dynamics 365 Finance and Operations common features •

synchronize Microsoft Office information with Microsoft Dynamics 365 Finance and Operations

•

configure email (SMTP/Exchange)

•

create and maintain email and record templates

•

set up a Power BI connector

•

create, export, and import personalizations

•

set up network printing

Implement business processes for the solution •

define use case scenarios

•

participate in phase-based planning processes and the solution design

•

design and create workflows

•

set up batch jobs and alerts

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DYNAMICS COMPANIONS CERTIFICATION EXAM STUDY GUIDE

•

EXAM MB-300: MICROSOFT DYNAMICS 365 UNIFIED OPERATIONS CORE

use business process workspace

Perform data migration (15-20%) Plan a migration strategy •

identify common migration scenarios and tools in Microsoft Dynamics 365 Finance and Operations

•

determine migration scope

•

identify relevant data entities and elements based on given scenarios

•

establish migration strategy processes

Prepare data for migration and migrate data •

identify and extract source data

•

generate field mapping between source and target data structures

•

support the transition between the existing and migrated systems

•

perform a test migration and validate output from the process

Validate and support the solution (15-20%) Implement and validate the solution within Microsoft Dynamics 365 Finance and Operations •

perform user acceptance testing (UAT)

•

build test scripts to test business functionality

•

demonstrate the correlation between test scripts and business requirements

•

monitor validation test progress and make ad hoc changes during validation testing to correct identified issues

Support Application Lifecycle Management (ALM) by using LCS •

perform a solution gap analysis

•

use LCS tools to identify, report, and resolve issues

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DYNAMICS COMPANIONS CERTIFICATION EXAM STUDY GUIDE

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Course MB-300T01: Core common features of Dynamics 365 for Finance and Operations Link: https://www.microsoft.com/en-us/learning/course.aspx?cid=MB-300T01 Organizations use Dynamics 365 for Finance and Operations to reduce operational costs and rapidly respond to changing business needs. This solution lets organizations achieve these goals. This course discusses core components of Microsoft Dynamics 365 for Finance and Operations.

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DYNAMICS COMPANIONS CERTIFICATION EXAM STUDY GUIDE

EXAM MB-300: MICROSOFT DYNAMICS 365 UNIFIED OPERATIONS CORE

Module 1: Get Started with Dynamics 365 for Finance and Operations This module provides an understanding of what Dynamics 365 for Finance and Operations is, and the industries that it supports. It describes the modules in Finance and Operations, and the purpose of the features in those modules and how they support the industry-specific areas. Lessons •

Introduction

•

Industry focus

•

Introduction to financial management

•

Introduction to employee management

•

Introduction to supply chain management

•

Module summary

You will have an understanding of what Finance and Operations is, and the industries that it supports. You will be familiar with the modules in Finance and Operations, and the purpose of the features in those modules and how they support the industry-specific areas.

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DYNAMICS COMPANIONS CERTIFICATION EXAM STUDY GUIDE

EXAM MB-300: MICROSOFT DYNAMICS 365 UNIFIED OPERATIONS CORE

Introduction to Dynamics 365 for Finance and Operations Link: https://docs.microsoft.com/en-us/learn/modules/introduction-to-dynamics-365-financeops/index Microsoft Dynamics 365 for Finance and Operations is a business management solution that unifies your view of global financials and business operations, automates and streamlines business processes, and helps you manage your business and make fast, informed decisions. Finance and Operations helps businesses adapt quickly to changing market demands and drive rapid business growth. In this module, you will learn about: •

The specific industries which Finance and Operations focuses on.

•

Financial management

•

Employee management

•

Supply chain management

Introduction Link: https://docs.microsoft.com/en-us/learn/modules/introduction-to-dynamics-365-financeops/1-intro-to-f-and-o-introduction Organizations use Dynamics 365 for Finance and Operations to reduce operational costs and rapidly respond to changing business needs. This solution lets organizations achieve these goals.

Elevate your financial performance By using Finance and Operations you can close books faster, deliver robust reporting, increase profitability with business intelligence, and ensure global compliance at global scale. Finance and Operations increases your business profitability by driving margin revenue growth with a centralized, global financial management solution that delivers robust financial intelligence and embedded analytics in real time. You can empower employees with role-based workspaces that provide intelligent automation, task prioritization, and integration with Microsoft Office 365 applications to maximize efficiency for superior business outcome. Also, you will minimize operational costs across business geographies with financial process automation, encumbrance, budget planning, budget control, and three-way matching.

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DYNAMICS COMPANIONS CERTIFICATION EXAM STUDY GUIDE

EXAM MB-300: MICROSOFT DYNAMICS 365 UNIFIED OPERATIONS CORE

Finance and Operations adjusts to changing financial requirements with a flexible, guided, rules-based chart of accounts, dimensions, and global tax engine. It also efficiently tracks values and reduces reporting errors with centralized, automated processes for managing your capitalized assets from acquisition through disposal.

Run smarter with connected operations Finance and Operations gives you the flexibility to create an ideal manufacturing mix from discrete, lean, and process in a single, unified solution to support your processes across the supply chain. It optimizes manufacturing parameters for each product family, including make to stock, make to order, pull to order, configure to order, and engineer to order. It simplifies resource management by streamlining scheduling with real-time visibility into resources, using a unified resource model and scheduling engine. All of this means that the flow of manufacturing material and finished goods is optimized with advanced warehouse and logistics management.

Automate and streamline your supply chain Finance and Operations modernizes business logistics by optimizing fulfillment and reducing costs by synchronizing logistics across sites, warehouses, and transportation modes. It enables businesses to deliver timely and faster response to customer demand by automating a seamless coordination of order-to-cash processes. By using Finance and Operations you get ahead with predictive insights, gain visibility, and control across all sites and warehouses for proactive responses to issues using dynamics financial analysis. it also reduces procurement costs and helps gain greater control by automating procure-to-pay processes. You can seamlessly connect sales and purchasing with logistics, production, and warehouse management for a 360-degree view of your supply chain. Finance and Operations accelerates time to market and adapts the application to your needs with nocode visual editors and tools that make it easy to build and deploy web and mobile apps. This no-code approach enables users to easily configure frequently changing legal requirements for regulatory reports, e-invoices, payment formats, and tax rules.

Industry focus in Finance and Operations Link: https://docs.microsoft.com/en-us/learn/modules/introduction-to-dynamics-365-financeops/2-industry-focus-in-f-and-o Finance and Operations helps businesses adapt quickly to changing market demands and drive rapid business growth. It supports global organizations by managing multisite operations through shared master data and business processes in a single instance. It is designed to support operational workloads for different industries as illustrated below.

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DYNAMICS COMPANIONS CERTIFICATION EXAM STUDY GUIDE

EXAM MB-300: MICROSOFT DYNAMICS 365 UNIFIED OPERATIONS CORE

Manufacturing Finance and Operations provides rich functionality for production control and master planning in the process manufacturing, discrete manufacturing, and lean manufacturing industries. In addition, a blended approach can be taken so all three technologies and methodologies are used in one implementation, which is called unified manufacturing also known as mixed mode manufacturing.

Distribution For the distribution industry, Finance and Operations offers rich warehouse and transportation management functionality to help with trucking and warehouse operations such as picking through wireless devices. The Inventory management module offers rich functionality to help configure items and warehouses to maximize productivity.

Retail For the retail industry, Finance and Operations supports brick and mortar stores by offering a rich pointof-sale application out of the box. There is deep functionality for call centers, including customer service and payment functionality embedded right into the application. Additionally, the e-Commerce solution offers a website platform and out-of-the-box sites that can kickstart e-Commerce integrations.

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DYNAMICS COMPANIONS CERTIFICATION EXAM STUDY GUIDE

EXAM MB-300: MICROSOFT DYNAMICS 365 UNIFIED OPERATIONS CORE

Financial management The financial management functionality in Finance and Operations provides fast, reliable, and comprehensive accounting, financial reporting, and analysis. It also provides the functionality that organizations need to efficiently update accounts and comply with reporting requirements.

Public sector For the public sector, there are many features that have been designed specifically to help meet the demanding requirements for financials such as fund accounting, grants, and advanced project accounting functionality.

Services For the services industry, there are tools for advanced dispatching, subscriptions, and project accounting to help pull everything together into one place to allow easier management.

Employee management An agile employee management system can help companies quickly develop their organization to meet the challenges of a fluctuating business environment. Finance and Operations streamlines many routine record-keeping tasks and automates several processes that are related to staffing your organization. It also provides a framework for Human Resources (HR) staff to manage areas of oversight. These areas include employee recruitment and retention, benefits administration, training, performance reviews, and change management. In a single solution, Finance and Operations helps enterprises meet their business requirements easily with deliberately built capabilities for the following industries: Manufacturing, Finance, Distribution, Financial management, Retail, Employee management, Public sector, and Services. In addition, the same single solution can support specific business requirements easily by extending the industry foundation with packaged vertical solutions from the Microsoft Partner Network.

Financial management Link: https://docs.microsoft.com/en-us/learn/modules/introduction-to-dynamics-365-financeops/3-financial-management-intro The financial management functionality in Finance and Operations provides fast, reliable, and comprehensive accounting, financial reporting, and analysis. It also provides all the functionality that you need to update accounts efficiently and comply with reporting requirements. It consists of the following modules:

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DYNAMICS COMPANIONS CERTIFICATION EXAM STUDY GUIDE

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•

General ledger - Use General ledger to define and manage the legal entity’s financial records. The general ledger is a register of debit and credit entries.

•

Cash and bank management - You can use Cash and bank management to maintain the legal entity’s bank accounts and the financial instruments that are associated with those bank accounts. These instruments include deposit slips, checks, bills of exchange, and promissory notes. You can also reconcile bank statements and print bank data on standard reports.

•

Tax - The sales tax framework supports many types of indirect taxes, such as sales tax, valueadded tax (VAT), goods and services tax (GST), unit-based fees, and withholding tax. These taxes are calculated and documented during purchase and sales transactions. Periodically, they must be reported and paid to tax authorities.

•

Accounts payable - You can set up Accounts payable, configure vendor invoices, and vendor payments, and perform settlements.

•

Accounts receivable - You can set up Accounts receivable, credit and collections, payments, and perform settlements.

•

Credit and collections - Credit and collections managers can use this central view to manage collections. Collections agents can begin the collections process from customer lists that are generated by using predefined collection criteria, or from the Customers page.

•

Budgeting - With proper budgeting process, businesses can benefit from forecasting and financial insights to compare actuals against allocated budget. You can use this module for basic budgeting, budget planning, and budget control.

•

Fixed assets - Fixed assets are items of value, such as buildings, vehicles, land, and equipment, which are owned by an individual or organization.

•

Consolidations - Financial reporting can consolidate multiple companies during report generation. Although the data is stored in a data mart, is versioned, and can be exported, every source company is the owner and container of the data. The report can be run at any time, even every minute (for example). It provides many additional benefits, such as the ability to drill down to all companies and dimensions.

•

Cost accounting - Cost accounting lets you collect data from various sources, such as the general ledger, sub-ledgers, budgets, and statistical information. You can then analyze, summarize, and evaluate cost data, so that management can make the best possible decisions for price updates, budgets, cost control, and so on.

•

Cost management - Cost management lets you work with the valuation and accounting of raw materials, semi-finished goods, finished goods, and work-in-progress assets. It is the process of defining, managing, and reporting Inventory accounting and Manufacturing accounting. You can define cost policies in the following areas: o o o o o

Predetermined cost Inventory accounting Manufacturing accounting Indirect cost accounting Ledger integration

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DYNAMICS COMPANIONS CERTIFICATION EXAM STUDY GUIDE

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Employee management Link: https://docs.microsoft.com/en-us/learn/modules/introduction-to-dynamics-365-financeops/4-employee-management-intro

Finance and Operations streamlines many routine record-keeping tasks and automates several processes that are related to staffing your organization. It also provides a framework for Human Resources (HR) staff to manage areas of oversight. These areas include employee recruitment and retention, benefits administration, training, performance reviews, and change management. You can use Finance and Operations to perform these tasks: •

Administer organizational structures.

•

Maintain comprehensive worker information from hire to retire.

•

Define and administer benefit plans, enroll workers, assign dependent coverage, and designate beneficiaries.

•

Establish long-term leave policies.

•

Implement and track profile-based time management and generate pay information to export to a payroll system.

•

Manage worker competencies.

•

Review performance and implement worker goals.

•

Set up, deliver, and analyze training courses that include agendas, sessions, and tracks.

•

Recruit workers, and track applicants.

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DYNAMICS COMPANIONS CERTIFICATION EXAM STUDY GUIDE

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Typically, after a company sets a budget for new positions, it will create jobs and positions in Finance and Operations. Depending on the system setup, this process might already be done at that point. When jobs and positions are created, a recruitment project can be created to help set up applications for the positions. Applicants will complete their applications in the system. After a hiring decision is made, a worker can be hired. After a worker is hired, several tasks must be performed to maintain the worker's information. Here are some examples: •

Entering benefits and compensation.

•

Creating goals for the worker.

•

Entering competencies for the worker.

•

Creating an injury or illness case if an incident occurs.

Expense management Use expense management in Finance and Operations to create an integrated workflow where you can store payment method information, import credit card transactions, and track the money that employees are spending when they incur expenses for your business. You can also define expense policies and automate the reimbursement of travel expenses.

Time and attendance Time registration workers can enter different types of time registrations, for example, clock in, clock out, register indirect activities, and absence registration.

Questionnaire You can customize a questionnaire to fit your specific requirements by using various features that are available in Finance and Operations. Here are some examples of how questionnaires can be used: •

Test the professional skills of employees and applicants.

•

Evaluate whether course participants learned the course material.

•

Evaluate a course (for example, the facilities, content, and instructor).

•

Survey employee and customer satisfaction.

•

Evaluate employee job performance.

Payroll The Payroll functionality and module in Finance and Operations is currently only available in the United States. www.dynamicscompanions.com Dynamics Companions

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Supply chain management Link: https://docs.microsoft.com/en-us/learn/modules/introduction-to-dynamics-365-financeops/5-supply-chain-management-intro Supply chain management in Finance and Operations helps businesses manage materials, information, and transactions as they move through the process from the vendor to the manufacturer, and then to the retailer, and finally to the end customer. The three goals of supply chain management are: •

Reducing inventory

•

Lowering costs

•

Improving time-to-market

The following modules in Finance and Operations support the supply chain management flow.

Procurement and sourcing Procurement and sourcing covers all the steps from identifying a need for product and services through procuring the product, receipt, invoicing, and processing of payment with vendors. Procurement processes can be configured toward specific business needs by defining purchasing policies and workflows.

Sales and marketing You can use sales and marketing to obtain, store, and use various types of data in the sales flow. This data includes the original sales initiative, future follow-up action, and additional sales.

Product information management Product information is the backbone of supply chain and retail applications across all industries. It refers to processes and technologies that focus on centrally managing information about products (for example, across supply chains). It's important that shared product definitions, documentation, attributes, and identifiers be used. In the various modules of a business solution, product-specific information and configuration are required to manage the business processes that are related to specific products, product families, or product categories.

Master planning Master planning allows companies to determine and balance the future need for raw materials and capacity to meet company goals.

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DYNAMICS COMPANIONS CERTIFICATION EXAM STUDY GUIDE

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Master planning assesses the following: •

What raw materials and capacities are currently available?

•

What raw materials and capacities are required to complete production?

For example, what must be manufactured, purchased, transferred, or set aside as safety stock before you can complete production.

Production control Finance and Operations provides rich functionality for production control and master planning in the process manufacturing, discrete manufacturing, and lean manufacturing environments. A blended approach can be taken so all three technologies and methodologies are used in one implementation, this is known as unified manufacturing or mixed mode manufacturing.

Inventory management You can control inbound and outbound operations, as well as perform quality control, management, and inventory control.

Warehouse management Warehouse management is fully integrated with other business processes in Finance and Operations such as transportation, manufacturing, quality control, purchase, transfer, sales, and returns.

Transportation management Transportation management lets you use your company’s transportation, and lets you identify vendor and routing solutions for inbound and outbound orders. For example, you can identify the fastest route or the least expensive rate for a shipment.

Project management and accounting Project management and accounting provides a strong platform to help companies effectively administer projects and achieve the results that they want. As the demand for faster and better service increases, so does the pressure to automate processes and balance costs associated with projects and service requests. For the growing number of companies that provide services to customers, either as their core business or in addition to their products, the challenge is to effectively manage knowledge, opportunities, and resources. Project accounting provides a strong platform to help companies effectively administer projects and achieve the results that they want.

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DYNAMICS COMPANIONS CERTIFICATION EXAM STUDY GUIDE

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Audit workbench You can use audit policies to evaluate expense reports, vendor invoices, and purchase orders to make sure that they comply with policy rules that you create. All the rules that are associated with an audit policy are run in batch mode, according to a schedule that you specify. Each policy rule is an instance of a policy rule type. For each policy rule type, only one policy rule can be active at a time.

Check your knowledge Link: https://docs.microsoft.com/en-us/learn/modules/introduction-to-dynamics-365-financeops/7-intro-to-f-and-o-knowledge-check

Introduction to Dynamics 365 for Finance and Operations knowledge check 1.

Which module in Finance and Operations enables companies to view the violation of vendor invoices or expense reports? a.

Accounts payable

b. Audit workbench c.

Expense management

d. Procurement and sourcing 2.

Which feature in Finance and Operations includes the basic capabilities of general ledger, tax, accounts receivable, accounts payable, bank management, and budgeting? a.

Financial management

b. Supply chain management c.

Project and service

Summary Link: https://docs.microsoft.com/en-us/learn/modules/introduction-to-dynamics-365-financeops/6-intro-to-f-and-o-summary You now have an understanding of what Finance and Operations is, and the industries that it supports. You learned about the modules in Finance and Operations, and the purpose of the features in those modules and how they support the industry-specific areas. Continue to the next module to learn how to navigate in Finance and Operations, and quickly find the pages that you need to complete your tasks.

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