IMPLEMENTATION TEST - Question : General Ledger: What rolls an account's

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SAGE INTACCT

IMPLEMENTATION TEST

QUESTIONS AND ANSWER S

Question : General Ledger: What rolls an account's ending balance, for each reporting period into the retained earnings accounts, effectively making the balance forward for the account zero?

CORRECT ANSWER : Non-closing accounts

Question : General Ledger: What GL configuration option prevents users from entering a journal entry or other transaction that does not balance for the current dimension?

CORRECT ANSWER : Enforce JE balancing

Question : General Ledger: What does an entity translate to for transacting in a multi-entity shared environment?

CORRECT ANSWER : Location

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Question : General Ledger: What would cause a JL journal entry to fail?

CORRECT ANSWER : Modifying template header titles

Question : General Ledger: What do you enable to require approvals for all transactions in a particular journal?

CORRECT ANSWER : Journal Entry approvals

Question : General Ledger: What records are used to track non financial data, such as employee headcount or the number of members?

CORRECT ANSWER : Statistical Accounts

Question : General Ledger: What process prevents entries and/or changes to a ledger for a specific period?

CORRECT ANSWER : Closing the books

Question : General Ledger: Which type of journal entry is used for posting to a closed period?

CORRECT ANSWER : Adjusting

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Question : Purchasing: What enables to categorize items for the purpose of posting to specific GL Accounts when using Advanced Workflows in the purchasing application?

CORRECT ANSWER : Item GL Group

Question : Purchasing: PO for a certain qty of item, need to pay for lesser qty. What setting in the PO transaction definition controls how you would process this transaction?

CORRECT ANSWER : Partial Conversion Handling

Question : Purchasing: What dimension represents goods or services purchased from a vendor?

CORRECT ANSWER : Item

Question : Purchasing: How does the system determine what type of transactions require aproval, what approvals are required, and the sequence of approvals?

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CORRECT ANSWER : Approval Policies

Question : Purchasing: What transaction definition setting requires at least one debit/credit account pair defined?

CORRECT ANSWER : Transaction Posting set to

Accounts Payable

Question : Accounts Receivables: What would you view

to see all of the following information: customer aging

info, amount due and amount paid, and total payments received?

CORRECT ANSWER : Statement

Question : Accounts Receivables: What transaction type decreases the amount a customer owes you?

CORRECT ANSWER : Credit memo

Question : Accounts Receivables: What customer account type causes the system to apply customer payments against the total balance due?