M3-123 Infor Certified M3 Finance Consultant Practice Questions

This is false. M3 allows changes to an asset's depreciation method, service life, and other parameters even after depreciation has started. When changed, the system will recalculate future depreciation amounts based on the new parameters and the asset's current net book value. This is a common requirement for handling changes in asset usage or accounting estimates.

This is the correct, audit-compliant method. Creating a full credit note and matching it against the original incorrect invoice effectively reverses the transaction within the AP sub-ledger, maintaining a clear trail. Re-entering the invoice correctly then establishes the proper liability. This ensures that the sub-ledger and GL remain synchronized and that every step of the correction is documented through standard M3 transactions.

The currency revaluation process (GLS140) triggers specific accounting events. GL14 is typically used for unrealized exchange rate gains, and GL15 is for unrealized exchange rate losses. The system uses the accounting strings defined for these events in 'Accounting Rule. Set' (CRS395) to determine the exact GL accounts for posting the calculated gains and losses.

The 'Tolerance days' field in APS905 is used to set a system-wide number of days after the due date before an invoice is considered officially overdue for monitoring and reporting purposes. This allows for minor delays in payment processing without immediately flagging an invoice.

'Reminder. Print' (ARS520) is the M3 program used to generate dunning letters (reminders) based on predefined rules for overdue invoices. A user can run this program and specify parameters, such as the minimum number of overdue days, to select the appropriate customers and invoices for the reminder run.

'Intercompany Transactions. Open' (MNS210) is the core M3 program for managing automated financial transactions between divisions. It allows defining the relationship, the triggering events (like a customer invoice in one division), and the resulting transactions (like a supplier invoice in the partner division), including handling currency differences. The other options are manual, intended for cost accounting, or focused only on the sales side, not the complete AP/AR automation.

The correct M3 procedure is to use the rollback functionality. If the depreciation run from FAS100 has been transferred to GL but not finalized, you can roll it back. This reverses the generated transactions from the FA module. After correcting the underlying issue with the asset or its depreciation method, you can re-run the calculation and transfer the correct values to the GL. Manual journals break the audit trail between the sub-ledger (FAM) and the GL.

'Aged Receivables Report. Print' (ARS525) is the standard M3 function for generating customer aging reports. It is designed to group open invoices into customizable aging buckets and provides summary information per customer, which is exactly what the controller requires. ARS200 is for viewing individual invoices, GLS210 is for GL transactions, and APS530 is for Accounts Payable, not Receivable.

An object control table is used to retrieve a specific value (like a GL account) based on input control objects (like the customer's region). This is the mechanism for conditional logic.

After creating the control table, it must be referenced within the specific accounting rule line in CRS395 to make the conditional logic active for that posting.

This is true. The payment proposal function allows users to filter for invoices by payment method, but if left blank, it will process all eligible invoices and group them by the payment method assigned to the respective supplier in CRS624. This allows for creating a single payment run for multiple payment types (e.g., checks, ACH, wire).