You are a Dynamics 365 Finance expert for an organization.
You need to configure the Financial period close workspace.
Which three configuration processes should you use? Each correct answer presents a part of the solution.
NOTE: Each correct selection is worth one point.
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A. B. C. D. E.ADE.
https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/financial-period-close-workspaceSure, I can explain the three configuration processes that should be used to configure the Financial period close workspace in Dynamics 365 Finance.
A. Create templates that contain the required tasks within the closing process and assign to closing role: The first step in configuring the Financial period close workspace is to create templates that contain the required tasks within the closing process. These templates will serve as a checklist for the closing process, ensuring that all necessary tasks are completed before the period is closed. The templates can be customized based on the organization's specific requirements. Once the templates are created, they should be assigned to the closing role. This will ensure that the individuals responsible for closing the period have access to the required tasks and can complete them in a timely manner.
B. Create a separate closing schedule for every legal entity: The second step in configuring the Financial period close workspace is to create a separate closing schedule for every legal entity. This will ensure that each legal entity's financial records are closed at the appropriate time. The closing schedule can be customized based on the organization's specific requirements, such as the frequency of the closing process, the tasks that need to be completed, and the deadline for completing the tasks.
C. Assign a ledger calendar to the closing process: The third step in configuring the Financial period close workspace is to assign a ledger calendar to the closing process. The ledger calendar defines the fiscal year and periods for the organization. This will ensure that the closing process is aligned with the organization's fiscal year and that the periods are closed in a timely manner. The ledger calendar can be customized based on the organization's specific requirements, such as the start and end dates of the fiscal year, the length of the periods, and the number of periods in the fiscal year.
D. Create task areas and descriptions: While not mentioned in the question, it is also important to create task areas and descriptions as part of configuring the Financial period close workspace. Task areas are used to group related tasks within the closing process. Descriptions provide additional information about the tasks, such as the purpose of the task and the expected outcome.
E. Designate resources and their scope based on closing roles: Another important aspect of configuring the Financial period close workspace is to designate resources and their scope based on closing roles. This will ensure that each individual responsible for the closing process has the necessary resources and information to complete their tasks. Resources can include tools, documents, and training materials. The scope of the resources should be customized based on the closing role and the specific tasks that need to be completed.
In summary, the three configuration processes that should be used to configure the Financial period close workspace in Dynamics 365 Finance are to create templates that contain the required tasks within the closing process and assign them to closing roles, create a separate closing schedule for every legal entity, and assign a ledger calendar to the closing process. Additionally, it is important to create task areas and descriptions and designate resources and their scope based on closing roles.