Project Management Accounting Microsoft Dynamics 365 Operations Quiz Questions and Answers
Once you switch the parameter Require Timesheet Audit Trail to "Yes " it means that you are tracking versions of your timesheet and you are now tracking change reasons on the timesheet.
Answer :
False
Explanation :
Justification: False. The statement is false. Turning on the Require Timesheet Audit Trail parameter does not automatically give you the option to enter change reasons. There is a parameter named "Allow Timesheet Change Reason" which is the parameter us
Progress Billing Rules always require a user to manage the contract's status to update the progress percentage.
Answer :
False
Explanation :
Justification: False. The statement is false. If you are using an Automatic Progress Billing Rule there is no need to manage the contract's status to update the progress percentage as the system will analyze actuals vs budget to automatically come up wi
Pay when paid is a feature that is used to share project risk with the subcontractor by controlling when to pay a vendor invoice for subcontracted work.
Answer :
True
Explanation :
Justification: True. The statement is true. The purpose of pay when paid is to share the risk of subcontracted work. You can set the system up to only pay off a vendor invoice when a certain percentage of a customer invoice has been paid.
Billing Rules have their own specific number sequence reference that must be set up.
Answer :
True
Explanation :
Justification: TRUE. The statement is true. The number sequence is set up in Project Management and Accounting > Setup > Project Management and Accounting Parameters > Number Sequence Tab > Billing Rule (reference).
To schedule/fulfill resources from another legal entity they must be configured as a lending company for the company you are scheduling from.
Answer :
True
Explanation :
Justification: True. The statement is true. From the Borrowing legal entity, you must set up an intercompany relationship with a lending entity in order to schedule the lending company's resources.
Unit of Delivery Billing Rules requires a user to manage the contract's status to update the units delivered.
Answer :
True
Explanation :
Justification: True. The statement is true. You are required to "Update Units Delivered" when using a unit of delivery billing rule, to inform the system how many units have been delivered.
Milestone Billing Rules are only applicable to Fixed Price Projects.
Answer :
True
Explanation :
Justification: True. The statement is true. When creating the milestones for Milestone Billing Rules you can only select Fixed Price type projects for the milestone is associated with.
Once enabling Intercompany Timesheets in the project parameters, you'll now have a field on your timesheet line to enter the legal entity.
Answer :
True
Explanation :
Justification: True. The statement is true. Enabling intercompany adds the legal entity field which allows a user to select which company the project they are time is associated with.
Once you set up a billing rule, you can no longer invoice using a non-billing rule invoice.
Answer :
True
Explanation :
Justification: True. The statement is true. Billing Rules require you to bill a client by using billing rules only, which means that you will invoice using the billing rule invoice.
When you create a new fixed price Project an estimate project is automatically created.
Answer :
True
Explanation :
Justification: True. The statement is true. On your project group you'll define the cost template and period code so the system can automatically create an estimate project for you.
