You need to configure the system to meet the fiscal year requirements.
What should you do?

A. Add an additional fiscal year.

B. Divide the twelfth period.

C. Add an additional period to ledger calendars.

D. Create a closing period.

E. Create a new fiscal calendar.






 

Suggested Answer: E

Create fiscal calendars, fiscal years, and periods
You can create and delete fiscal calendars, fiscal years, and periods on the Fiscal calendars page. You can also divide existing periods and create closing periods that can be used to close a fiscal year.
A closing period is used to separate general ledger transactions that are generated when a fiscal year is closed. When the closing transactions are in one fiscal period, it is easier to create financial statements that either include or exclude different types of closing entries. If a fiscal year is divided into 12 fiscal periods, the closing period is usually the 13th period.
Note: Configuring calendars for the ledger
Another component of the ledger is the fiscal calendar. A fiscal calendar must be selected for each legal entity. You can use the same fiscal calendar in more than one legal entity. When you select a fiscal calendar for the ledger, a copy is made. This copy is referred to as the ledger calendar. The ledger calendar lets you select the status of the periods and the modules in each period.
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/budgeting/fiscal-calendars-fiscal-years-periods

This question is in MB-310 Microsoft Dynamics 365 Finance Exam
For getting Microsoft Certified: Dynamics 365 Finance Functional Consultant Associate Certificate



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