Configuring Budget Options in Dynamics 365 Finance
Question
You work as the Finance Manager for a company.The company uses Microsoft Dynamics 365 Finance for its accounting system.
You need to configure a budget in Dynamics 365 Finance.The budget must include details about planned hours, expenses, fees, and items.
Which of the following budget options should you configure?
Answers
Explanations
Click on the arrows to vote for the correct answer
A. B. C. D.C.
Based on the requirements provided, the appropriate budget option to configure in Dynamics 365 Finance is the Project budget.
A Project budget is a budget that is specifically designed to track expenses, revenues, and other financial details related to a project. It allows you to define a budget plan for a specific project and monitor the project's financial performance against the budget plan.
The Project budget option in Dynamics 365 Finance allows you to define a budget plan for a project that includes details about planned hours, expenses, fees, and items. You can define the budget for a project by setting up cost categories and cost templates, which are used to specify the various types of expenses and fees that are associated with the project.
Once the project budget is configured, you can monitor the project's financial performance against the budget plan by using the Project budget analysis report. This report provides an overview of the project's financial performance, including actuals, budget amounts, and variances.
The other options, Workforce budget, Fixed asset budget, and Demand forecasting are not relevant to the requirements provided. A Workforce budget is used to plan and track the costs associated with the workforce. A Fixed asset budget is used to plan and track the costs associated with fixed assets. Demand forecasting is used to forecast demand for a product or service.
