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Study guide for Exam MB-310: Microsoft Dynamics 365 Finance Functional Consultant

Purpose of this document

This study guide should help you understand what to expect on the exam and includes a summary of the topics the exam might cover and links to additional resources. The information and materials in this document should help you focus your studies as you prepare for the exam.

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Updates to the exam

Our exams are updated periodically to reflect skills that are required to perform a role. We have included two versions of the Skills Measured objectives depending on when you are taking the exam.

We always update the English language version of the exam first. Some exams are localized into other languages, and those are updated approximately eight weeks after the English version is updated. While Microsoft makes every effort to update localized versions as noted, there may be times when the localized versions of an exam are not updated on this schedule. Other available languages are listed in the Schedule Exam section of the Exam Details webpage. If the exam isn't available in your preferred language, you can request an additional 30 minutes to complete the exam.

Note

The bullets that follow each of the skills measured are intended to illustrate how we are assessing that skill. Related topics may be covered in the exam.

Note

Most questions cover features that are general availability (GA). The exam may contain questions on Preview features if those features are commonly used.

Skills measured as of July 25, 2025

Audience profile

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. You have a fundamental understanding of accounting principles and financial operations as they relate to:

  • Core tasks in the finance and operations apps

  • Manufacturing

  • Retail

  • Supply chain management operations

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

  • General ledger

  • Accounts payable

  • Accounts receivable

  • Credit and collections

  • Cash and bank management

  • Budgeting

  • Fixed assets

  • Asset leasing

  • Tax

  • Expense management

  • Subscription billing

  • Cost accounting

  • Cost management

  • Consolidation and elimination

Skills at a glance

  • Implement financial management (40–45%)

  • 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 (40–45%)

Design and configure the chart of accounts

  • Design and configure financial dimensions

  • Design and configure the chart of accounts and main accounts

  • Configure main accounts 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 ledgers and currencies

  • Configure currency exchange types and rates

  • Configure a currency revaluation posting profile

  • Configure accounting and reporting currencies

Implement and manage journals

  • Configure journal names and vouchers

  • Configure journal controls and posting restriction rules

  • Implement journal approvals, including workflows

  • Configure and use periodic journals

  • Configure intercompany accounting

  • Create templates to edit journals in Microsoft Excel

  • Reverse financial transaction entries

  • Configure default descriptions

  • Create and use journal entries, including validation and posting 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 by using Consolidation online

  • Create and manage financial reports, including modifying row, column, and report definitions, and reporting trees

  • Design and configure financial period workspaces and closing schedules

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

  • Design consolidation and elimination by using financial reports

  • Configure and process ledger settlements

  • Perform general ledger foreign currency revaluation

  • Manage the ledger calendar

Configure, collect, and report taxes

  • Configure tax groups, tax codes, settlement periods, and authorities

  • Configure tax ledger posting groups

  • Settle and post sales tax

  • Configure withholding tax groups, tax codes, and authorities

  • Calculate and adjust sales tax

Implement cost management

  • Configure cost groups

  • Configure inventory costing versions

  • Differentiate between inventory costing methodologies

  • Configure item model groups

  • Configure item groups and inventory posting profiles

  • Perform inventory recalculation, closing, and adjustment processes

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

  • Configure customer payment methods

  • Configure accounts receivable charges and apply changes to an invoice

  • Manage customer holds

  • Configure customer posting profiles

  • Process customer payments

  • Configure customer change approvals

  • Perform accounts receivable foreign currency revaluation

  • Configure and use billing classification

  • Configure batch processing of free text and sales order invoicing

  • Configure bank accounts for customers

Manage credit and collections

  • Configure credit management processes

  • Configure collections management processes, including collection activities

  • Manage delinquent customers

  • Prepare and send customer account statements

  • Configure and process collection letters

  • Configure aging definitions and process aged balances

  • Process and manage credit holds

  • Configure and use 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 use revenue deferrals and recognition, including for charges, deferral defaults, and items deferred by default

  • Configure and use expense deferrals and recognition

  • Process and manage revenue and expense recognition schedules

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 purchase order invoices and credit memos, including prepayments

  • Configure vendor payment methods

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

  • Configure bank accounts and bank account approvals for vendors

  • Configure vendor change approvals

  • Perform accounts payable foreign currency revaluation

  • Configure vendor invoice automation

  • Process the vendor invoice journal including voyage cost

  • Configure and use recurring vendor invoices

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

Configure and use expense management

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

  • Create and manage expense reports

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

  • Activate or deactivate budget control configurations

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 parameters

  • Configure fixed asset 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

  • Process fixed asset disposals and other transactions by using the fixed asset journal

  • Process fixed asset split, reclassification, and transfer

  • Process acquisition and depreciation for derived books

Study resources

We recommend that you train and get hands-on experience before you take the exam. We offer self-study options and classroom training as well as links to documentation, community sites, and videos.

Study resources Links to learning and documentation
Get trained Choose from self-paced learning paths and modules or take an instructor-led course
Find documentation Dynamics 365 documentation and learning modules
Finance
Ask a question Microsoft Q&A | Microsoft Docs
Get community support Microsoft Dynamics Community
Follow Microsoft Learn Microsoft Learn - Microsoft Tech Community

Change log

The table below summarizes the changes between the current and previous version of the skills measured. The functional groups are in bold typeface followed by the objectives within each group. The table is a comparison between the previous and current version of the exam skills measured and the third column describes the extent of the changes.

Skill area prior to July 25, 2025 Skill area as of July 25, 2025 Change
Audience profile No change
Implement financial management Implement financial management No % change
Design and configure the chart of accounts Design and configure the chart of accounts Minor
Configure ledgers and currencies Configure ledgers and currencies Major
Implement and manage journals Implement and manage journals Minor
Implement and manage cash and bank Implement and manage cash and bank Minor
Perform periodic processes Perform periodic processes Minor
Configure, collect, and report taxes Configure, collect, and report taxes Minor
Implement cost management Added
Implement and manage accounts payable and expenses Implement and manage accounts payable and expenses No % change
Implement and manage accounts payable Implement and manage accounts payable Minor
Manage budgeting Manage budgeting No % change
Configure and manage budget controls Configure and manage budget controls Minor