Are you ready to prepare for the MB 310 Microsoft Dynamics 365 Finance Functional Consultant Exam 2026 ?

As a candidate for this exam, you analyze business requirements and translate them into fully realized business processes and solutions that implement industry-recommended practices during implementation and ongoing support. You have a foundational understanding of accounting principles and financial operations as they relate to:

• Core tasks in Dynamics 365 finance and operations apps

• Manufacturing

• Retail

• Supply chain management operations

• Service-based operations

As a candidate for this exam, you specialize in one or more feature sets of Dynamics 365 Finance including:

• General ledger

• Cash and bank management

• Tax

• Accounts receivable

• Credit and collections

• Subscription billing

• Accounts payable

• Expense management

• Budgeting

• Fixed assets and asset leasing

• Cost accounting

• Consolidation and elimination

• Agents

Skills at a glance

• Implement financial management (35–40%)

• Implement accounts receivable, credit, collections, and subscription billing (15–20%)

• Implement and manage accounts payable and expenses (10–15%)

• Manage budgeting (10–15%)

• Manage fixed assets (10–15%)

Implement financial management (35–40%)

Design and configure the chart of accounts and financial dimensions

• Design and configure financial dimensions

• Design and configure the chart of accounts and main accounts

• Configure main account categories, ledger account aliases, and balance control accounts

• Configure legal entity overrides for financial dimensions and main accounts

• Configure and manage account structures and advanced rules

• Design and configure financial tags

• Configure derived dimensions and financial dimension default templates

Configure ledgers and currencies

• Configure currency exchange types and rates

• Configure a currency revaluation posting profile

• Configure accounting and reporting currencies

• Configure ledger calendar and fiscal calendar

• Configure posting layers for ledger transactions

• Configure and process ledger allocation rules

Implement and manage journals

• Configure journal names and vouchers

• Configure journal controls and posting restriction rules

• Configure and process periodic journals

• Configure intercompany accounting

• Create and modify templates to edit journals in Microsoft Excel

• Reverse financial transaction entries

• Create, validate, and post journal entries manually and by using Microsoft Excel

• Configure batch processing of journals

Implement and manage cash and bank

• Create and manage bank groups and bank accounts

• Configure payment formats

• Configure bank reconciliations, including advanced bank reconciliations

• Configure the cash flow forecast setup, including automation setup

• Perform bank foreign currency revaluation

• Process manual and advanced bank reconciliations

• Configure shared payment setup for customers and vendors

• Configure and process customer and vendor netting

Perform periodic processes

• Design and configure periodic closing processes and end-of-year processes, including main accounts, reports, and templates

• Perform financial consolidation and elimination processes

• Design and configure financial period workspaces and closing schedules

• Design and configure legal entity for consolidation and elimination by using Consolidation online

• Configure and process ledger settlements

Configure, collect, and report taxes

• Configure sales tax groups, item sales tax groups, tax codes, settlement periods, authorities, and tax exemptions

• Configure tax ledger posting groups

• Settle and post sales tax

• Configure withholding tax groups, tax codes, and authorities

• Calculate and adjust sales tax

Implement accounts receivable, credit, collections, and subscription billing (15–20%)

Implement and manage accounts receivable

• Configure customers and customer groups, including configuring shared customers

• Configure and process free text invoices, including recurring free text invoices

• Process sales order invoices and credit memos, including prepayments

• Configure customer payment methods

• Configure accounts receivable charges and apply changes to an invoice

• Configure customer posting profiles

• Process customer payments

• Perform accounts receivable foreign currency revaluation

• Configure billing classification

• Configure bank accounts for customers

• Process intercompany invoices

Manage credit and collections

• Configure credit management processes

• Configure collections management processes, including collection activities

• Manage delinquent customers

• Configure and process collection letters

• Configure aging definitions and process aged balances

• Process and manage credit holds

• Configure and process customer write-offs

• Configure and process interest notes

Configure and manage subscription billing

• Generate sales documents by using billing schedules

• Manage billing schedules, including price update and hold termination

• Configure contract billing, including billing schedule group, item group, and milestone setup

• Configure and process revenue deferrals and recognition, including charges

• Configure and process expense deferrals and recognition

• Process and manage revenue and expense recognition schedules

• Configure deferral defaults and items deferred by default

Implement and manage accounts payable and expenses (10–15%)

Implement and manage accounts payable

• Configure invoice validation policies and invoice matching setup

• Configure vendor groups, vendors, and vendor posting profiles, including configuring shared vendors

• Process invoices and credit memos, with and without associated purchase orders, including prepayments

• Configure vendor payment methods

• Configure accounts payable charges, and apply changes to an invoice

• Configure vendor bank accounts

• Perform accounts payable foreign currency revaluation

• Process the vendor invoice journal

• Configure and process recurring vendor invoices

• Process and generate vendor payments, centralized payments, and prepayments

• Process intercompany vendor invoices

Configure expense management

• Configure expense management including categories, per diem options, mileage expenses, intercompany expenses, and personal expenses

• Create and manage expense reports, including expense report policies

Manage budgeting (10–15%)

Implement basic budgeting

• Configure budgeting components, including budget models, codes, allocation terms, and transfer rules

• Create and manage budget register entries

• Compare budgeted values with actual values

Configure and manage budget controls

• Configure budget controls including budget parameters, budget fund availability options, budget control rules and groups, and over-budget permissions

• Validate budget control on transactions

Configure and manage budget planning

• Create and manage budget plans, including scenarios and allocations

• Configure budget planning process, including organization hierarchy

Manage fixed assets (10–15%)

Implement and manage fixed assets

• Create and manage fixed asset groups and other fixed asset attributes

• Configure fixed asset posting profiles

• Configure fixed asset books, including derived books

• Configure depreciation profiles

• Create and manage fixed assets

• Configure mapping for fixed asset groups and books

Process fixed asset transactions

• Process fixed asset disposal (sales) by using free text invoices

• Process fixed asset acquisitions by using purchase orders, journals, inventory journals, and projects

• Create fixed asset budgets and transfer the budgets to the budgeting module

• Process fixed asset depreciation, including multi-company

• Process fixed asset split, reclassification, transfer, disposals and other transactions by using the fixed asset journal