This is a fast, near-zero-prose review of MB-310 (Microsoft Dynamics 365 Finance). Use it in your last few days of prep — skim each table, and drill anything unfamiliar with our MB-310 practice questions. It is a memory aid, not a substitute for hands-on configuration experience in Dynamics 365 finance and operations apps.
MB-310 Facts at a Glance
Passing Score
700 / 1000
Typical Cost
$165 USD
Renewal
12 months, free online
Prerequisite
None (MB-300 retired)
Financial management
35–40%
AR / credit / billing
15–20%
AP / expenses
10–15%
Budgeting
10–15%
Fixed assets
10–15%
1. General Ledger, Chart of Accounts, Journals & Cash
Chart of Accounts Building Blocks
| Term | What it controls |
|---|---|
| Main account | The base ledger account number, shared across legal entities in a shared chart of accounts. |
| Financial dimension | A tracking attribute (department, cost center, project) posted alongside the main account. |
| Account structure | Defines which financial dimension combinations are VALID for a set of main accounts. |
| Advanced rule | Refines an account structure — restrict or allow specific dimension values within it. |
| Ledger allocation rule | DISTRIBUTES an already-posted amount across dimensions after the fact — not a validity check. |
| Derived dimension | A dimension value calculated automatically from other dimension values on the same transaction. |
Posting Layers
- Current: the actual, live financial results.
- Operations: a parallel layer for what-if or adjustment entries that should not hit the official current results.
- Budget: holds budget register entries separately from actuals so reports can compare the two.
Journals
| Journal name | Defines the journal type, number sequence, and default posting layer. |
| Posting restriction rule | Blocks a user or role from posting outside an approved dimension or account range. |
| Periodic journal | A recurring, reversible template (e.g., accruals) reused every period. |
| Intercompany accounting | Automatically generates the matching entry in a second legal entity for a cross-entity transaction. |
Cash & Bank
- Bank reconciliation (manual): match statement lines to ledger transactions by hand.
- Advanced bank reconciliation: semi-automated matching against imported bank statement files.
- Cash flow forecast: projects future cash position; can be automated from open AR/AP and budget data.
- Customer/vendor netting: offsets what a party owes you against what you owe them into one net settlement.
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Invoicing & Payments
| Free text invoice | An invoice with no linked sales order (e.g., a one-off service charge); can be recurring. |
| Sales order invoice | Generated from a sales order line, supports prepayments and credit memos. |
| Customer posting profile | Determines which ledger accounts a customer's transactions post to. |
| Billing classification | Categorizes invoices for reporting/compliance (e.g., by jurisdiction). |
Credit & Collections
- Credit hold: blocks new orders/invoices once a customer exceeds a credit limit or risk threshold.
- Aging definition: the bucket structure (e.g., 0–30, 31–60 days) used for aged balance reports.
- Collection letter: an automated, escalating reminder tied to how overdue a balance is.
- Interest note: a charge generated for late payment based on configured interest rules.
Subscription Billing (newest sub-area)
| Billing schedule | Drives WHEN and HOW MUCH gets invoiced on a recurring contract. |
| Revenue recognition schedule | Drives WHEN revenue is recognized on the books — can run on a different cadence than billing. |
| Deferral default | Pre-sets which items automatically defer revenue/expense recognition. |
3. Accounts Payable & Expense Management
Invoice Matching Levels
| Level | Compares |
|---|---|
| Two-way matching | Purchase order vs. invoice. |
| Three-way matching | Purchase order vs. receipt vs. invoice — catches quantity or price discrepancies at receipt. |
AP Setup Terms
- Vendor posting profile: determines which ledger accounts a vendor's transactions post to.
- Vendor invoice journal: lets AP staff stage and validate vendor invoices before posting.
- Centralized payment: one legal entity pays on behalf of several related entities.
- Recurring vendor invoice: auto-generates a repeat invoice on a schedule (e.g., a monthly service fee).
Expense Management
- Per diem: a fixed daily allowance for travel, configured by expense category.
- Mileage expense: reimbursement calculated from distance and a configured rate.
- Expense report policy: enforces limits/approvals on what employees can submit.
4. Budgeting
| Layer | Purpose |
|---|---|
| Budget register entry | The actual recorded budget amount, entered manually or imported. |
| Budget control | Real-time check that blocks or warns when a transaction would exceed available budget funds. |
| Fund availability | How much budget remains after committed and actual amounts are subtracted. |
| Budget plan | A forward-looking scenario built through an organization-hierarchy planning process (new Aug 2026 sub-area). |
Do not confuse: invoice matching (a check on vendor invoices, AP domain) with budget control (a check on available funds, budgeting domain). Both can block a transaction, but for entirely different reasons.
5. Fixed Assets
| Term | What it is |
|---|---|
| Fixed asset group | Groups assets sharing depreciation and posting behavior (e.g., “Computer Equipment”). |
| Fixed asset book | The primary set of depreciation records for an asset. |
| Derived book | A secondary book (e.g., for tax depreciation) that inherits from but can diverge from the primary book. |
| Depreciation profile | Defines the depreciation method, convention, and calculation rules applied to a book. |
Ways to Acquire and Dispose of an Asset
- Acquire via: purchase order, journal, inventory journal, or project.
- Dispose via: free text invoice (sale) or the fixed asset journal (split, reclassify, transfer, write-off).
- Multi-company depreciation: depreciate one physical asset shared and posted across more than one legal entity.
6. Acronym & Term Quick List
GL — General Ledger
AR — Accounts Receivable
AP — Accounts Payable
FA — Fixed Assets
COA — Chart of Accounts
PO — Purchase Order
ISV — Independent Software Vendor
MTD/YTD — Month/Year to Date
D365 F&O — Dynamics 365 Finance and Operations
LCS — Lifecycle Services
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Common Questions
Is a cheat sheet enough to pass MB-310?
No. MB-310 assumes hands-on configuration experience in Dynamics 365 finance and operations apps. Use this cheat sheet to consolidate terminology after studying, not as a replacement for working in the application itself.
What is the difference between an account structure and a ledger allocation rule?
An account structure defines which financial dimension combinations are valid before posting. A ledger allocation rule distributes an already-posted amount across dimensions afterward. One is a validity check; the other is a distribution mechanism.
What is the passing score for MB-310?
700 out of 1000 on Microsoft's scaled scoring system, the same threshold used across its associate and expert certifications.
Do I still need MB-300 before MB-310?
No — MB-300 retired on February 29, 2024. MB-310 is now the only exam required for the Dynamics 365 Finance Functional Consultant Associate certification.
About This Cheat Sheet
MSCertQuiz sells a 500-question MB-310 practice exam bank (40 questions free) built and maintained by the same team that wrote this cheat sheet. Every term above traces back to Microsoft's official MB-310 study guide, checked September 7, 2026.