An organization plans to use defined journal names for each purpose.
They want to ensure that journal processing is easier and more secure.
The organization has the following requirements: -> Set up restrictions on the account type and segment values.
-> Capture data accurately for offset accounts, currency, and financial dimensions.
-> Maintain internal control and establish materiality limits.
You need to set up journal name elements to meet these requirements.
Which three journal elements should you configure? Each correct answer presents 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/general-journal-processingTo meet the requirements of the organization, the following three journal name elements should be configured:
B. Account type: By setting up restrictions on account type, only accounts of a specific type can be selected when creating the journal, ensuring that data is captured accurately. This will also help to maintain internal control and establish materiality limits.
C. Journal type: By configuring the journal type, you can ensure that the correct offset account is used for the journal transaction. This will help to capture data accurately and maintain internal control.
E. Journal control: By configuring the journal control, you can set up restrictions on the segment values to be used in the journal. This will help to capture data accurately, maintain internal control, and establish materiality limits.
A. Workflow approval: This journal element is not directly related to meeting the requirements of the organization for easier and more secure journal processing. Workflow approval can be configured to enforce additional checks and balances for journal entries, but it is not a requirement for the specific scenario described in the question.
D. Default values: This journal element is not directly related to meeting the requirements of the organization for easier and more secure journal processing. Default values can be configured to pre-populate certain fields in the journal, but it is not a requirement for the specific scenario described in the question.