MB-310 Study Guide: Pass the Dynamics 365 Finance Exam

MB-310 (Microsoft Dynamics 365 Finance) is the single exam behind the Microsoft Certified: Dynamics 365 Finance Functional Consultant Associate certification. It tests whether you can configure the financials side of Dynamics 365: general ledger, accounts receivable and payable, budgeting, and fixed assets. This guide walks through each of the five official skill areas one at a time, in the order Microsoft weights them, with the specific things candidates get wrong in each area.

Before You Register: MB-310 at a Glance

Until February 29, 2024, earning this certification meant passing two exams: MB-300 (Core Finance and Operations) plus MB-310. Microsoft retired MB-300, so MB-310 is now the only exam required. If you are studying from an older blog post or course that references MB-300 as a prerequisite, that information is out of date.

Financial Management (35–40%)

This is the largest domain on MB-310 by a wide margin, and it is really six sub-areas stitched together: chart of accounts and financial dimensions, ledgers and currencies, journals, cash and bank, periodic processes, and tax. Treat it as its own mini-exam.

• • Chart of accounts & financial dimensions: financial dimensions, main accounts, account categories, ledger account aliases, balance control accounts, legal entity overrides, account structures and advanced rules, financial tags, derived dimensions and default templates.
• • Ledgers & currencies: currency exchange types/rates, currency revaluation posting profiles, accounting and reporting currencies, ledger and fiscal calendars, posting layers, ledger allocation rules.
• • Journals: journal names and vouchers, posting restriction rules, periodic journals, intercompany accounting, Excel-based journal entry, reversing entries, batch processing.
• • Cash & bank: bank groups/accounts, payment formats, manual and advanced bank reconciliations, cash flow forecast automation, bank foreign currency revaluation, customer/vendor netting.
• • Periodic processes: period-end and year-end closing, consolidation and elimination (including Consolidation online), financial period workspaces and closing schedules, ledger settlements.
• • Tax: sales tax groups, item sales tax groups, settlement periods, tax authorities and exemptions, tax ledger posting groups, withholding tax, calculating and adjusting sales tax.

Where candidates lose points:account structures and advanced rules are the classic trap — know how a structure restricts which financial dimension combinations are valid before you touch ledger allocation rules, which distribute amounts across dimensions after the fact. Those are two different mechanisms candidates conflate constantly. Also be precise on posting layers: current, budget, and operations layers can each hold a different value for the same account, and questions test whether you know which layer a report pulls from.

Accounts Receivable, Credit, Collections & Subscription Billing (15–20%)

The second-largest domain covers the full customer-money lifecycle: getting invoices out, getting paid, chasing late payers, and (a genuinely new area for this exam family) recurring subscription billing.

• • Accounts receivable: customers and customer groups (including shared customers), free text invoices (including recurring), sales order invoices and credit memos with prepayments, customer payment methods, AR charges, customer posting profiles, AR foreign currency revaluation, billing classification, intercompany invoices.
• • Credit & collections: credit management processes, collections activities, delinquent customer handling, collection letters, aging definitions and aged balances, credit holds, customer write-offs, interest notes.
• • Subscription billing: generating sales documents from billing schedules, managing schedules (price updates, hold termination), contract billing setup (billing schedule group, item group, milestones), revenue and expense deferral/recognition, deferral defaults.

Where candidates lose points:subscription billing is the newest sub-area here and the one candidates study least, because it did not exist in earlier versions of this exam family. Know the difference between a billing schedule (drives what gets invoiced and when) and a revenue recognition schedule (drives when revenue is recognized on the books) — a contract can invoice on one cadence and recognize revenue on a completely different one.

Accounts Payable & Expense Management (10–15%)

The vendor-side mirror of accounts receivable, plus employee expense management bolted on.

• • Accounts payable: invoice validation policies and matching setup, vendor groups/vendors/posting profiles (including shared vendors), invoices and credit memos with and without purchase orders, prepayments, vendor payment methods, AP charges, AP foreign currency revaluation, the vendor invoice journal, recurring vendor invoices, centralized payments, intercompany vendor invoices.
• • Expense management: expense categories, per diem, mileage, intercompany and personal expenses, expense reports and expense report policies.

Where candidates lose points:invoice matching policy (two-way, three-way, or none) is tested with scenario questions describing a discrepancy between a purchase order, receipt, and invoice — you need to know which matching level would have caught it. Do not confuse invoice matching (a control on vendor invoices) with budget control (a separate check covered in the budgeting domain below).

Budgeting (10–15%)

Three distinct layers: basic budgets you register and compare against actuals, budget controls that block or warn on overspending in real time, and budget planning for building forward-looking plans.

• • Basic budgeting: budget models, codes, allocation terms, transfer rules, budget register entries, comparing budgeted vs. actual values.
• • Budget controls: budget parameters, fund availability options, control rules and groups, over-budget permissions, validating budget control on transactions.
• • Budget planning: budget plans (scenarios and allocations), the budget planning process and organization hierarchy.

Where candidates lose points:“Configure and manage budget planning” is a brand-new sub-area added in the August 2026 revision, so older third-party notes will not cover it — make sure your source material specifically addresses budget plan scenarios and org-hierarchy planning, not just basic budget register entries.

Fixed Assets (10–15%)

The smallest domain by weight but one of the most procedural: set up an asset correctly once, and most of the transaction processing questions become mechanical.

• • Setup: fixed asset groups and attributes, posting profiles, fixed asset books (including derived books), depreciation profiles, mapping for groups and books.
• • Transactions: disposal via free text invoices, acquisitions via purchase orders, journals, inventory journals, or projects, fixed asset budgets and their transfer to the budgeting module, multi-company depreciation, split/reclassification/transfer/disposal via the fixed asset journal.

Where candidates lose points:a “derived book” is not the same as the main asset book — it is a secondary depreciation book (commonly used for tax vs. book depreciation differences) that inherits from but can diverge from the primary book. Scenario questions frequently ask which book a specific depreciation method or convention applies to.

What Changed in the August 2026 Update

Microsoft revised the MB-310 skills-measured outline on August 14, 2026 — roughly three weeks before this guide was last checked. If you are working from an older PDF or a course recorded before that date, watch for these specific differences:

Source: Microsoft's official MB-310 study guide change log, checked September 7, 2026.

Where This Guide Comes From

Every domain, weighting, and fact above traces back to Microsoft's own Dynamics 365 Finance Functional Consultant Associate certification page and the official MB-310 study guide, both checked September 7, 2026. MSCertQuiz sells a 500-question MB-310 practice exam bank and a free 40-question tier; this guide was written by the same team that builds and maintains that question bank, based on the patterns we see across attempts logged in it.

Also review Microsoft's free official MB-310 practice assessment as a gut-check before you commit to a full paid practice bank, and see how you score on our own MB-310 certification page.

Frequently Asked Questions