Sage Intacct Implementation exam with correct answers 2024.

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? - answer-Non-closing accounts General Ledger: What GL configuration option prevents users from entering a journal entry or other transaction that does not balance for the current dimension? - answer-Enforce JE balancing General Ledger: What does an entity translate to for transacting in a multi-entity shared environment? - answer-Location General Ledger: What would cause a JL journal entry to fail? - answer-Modifying template header titles General Ledger: What do you enable to require approvals for all transactions in a particular journal? - answer-Journal Entry approvals General Ledger: What records are used to track non financial data, such as employee headcount or the number of members? - answer-Statistical Accounts General Ledger: What process prevents entries and/or changes to a ledger for a specific period? - answer-Closing the books General Ledger: Which type of journal entry is used for posting to a closed period? - answer-Adjusting Purchasing: What enables to categorize items for the purpose of posting to specific GL Accounts when using Advanced Workflows in the purchasing application? - answer-Item GL Group 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? - answer-Partial Conversion Handling Purchasing: What dimension represents goods or services purchased from a vendor? - answer-Item Purchasing: How does the system determine what type of transactions require aproval, what approvals are required, and the sequence of approvals? - answer-Approval Policies Purchasing: What transaction definition setting requires at least one debit/credit account pair defined? - answer-Transaction Posting set to Accounts Payable 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? - answer-Statement Accounts Receivables: What transaction type decreases the amount a customer owes you? - answer-Credit memo Accounts Receivables: What customer account type causes the system to apply customer payments against the total balance due? - answer-Balance forward Accounts Receivables: What feature provides user-friendly names for GL accounts when entering customer invoices? - answer-Account Labels Accounts Receivables: What determines how customer discounts can be calculated on the full transaction amount or total line items only? - answer-AR Terms Accounts Receivables: How do you ensure Customer Invoices have no impact on the General Ledger? - answer-Import AR Invoices and select historical posting Accounts Receivables: How are new IDs or numbers automatically generated for customers and transactions? - answer-Document Sequencer Accounts Receivables: What accounts Receivable configuration option prevents you from deleting updating invoices? - answer-Enable Reversal of Unpaid Invoices Accounts Receivables: Displaying tax and subtotal fields on customer Invoices is available only if you have enabled what feature in AR Configuration? - answer-Account Labels Accounts Receivables: How do you post an undeposited funds payment receipt to cash in Accounts Receivables? - answer-Create a deposit Accounts Receivables: What field name must be unique when importing customers in a .csv import template? - answer-CUST_NAME Time & Expense: What provides recognizable names to the G/L accounts used in expense reports in the T&E application? - answer-Expense types Time & Expense: What option enables approvals for paying employee expense reports? - answer-Expense reports approvals Time & Expense: How is the manager field used in the employee information screen? - answer-Vendor bill approval Time & Expense: What record is tied to the employee dimensions so an employee can submit their own expense reports from the T&E application? - answer-User Order Entry: What do sales orders, sales quotes, and sales invoices represent in the Order Entry application? - answer-Transaction Definitions Order Entry: How are permissions used within the Order Entry application? - answer-Restrict users to enter transactions within a specific transaction definition Order Entry: When pricing items in sales transactions, the system determines the calculated amount of the line by using the unit price and the: - answer-Unit of measure Order Entry: What associates an Order Entry transaction with the appropriate icon on the overview map and with the applicable transaction menu grouping in the application menu? - answer-Workflow category Order Entry: What can automatically default item prices in an Order Entry sales invoice when assigned to the transaction definition? - answer-Price lists Order Entry: How would a client company add an additional step to their Order Entry workflow that is unique to their business when they are currently using a Quickstart workflow? - answer-Use advanced workflow to recreate the workflow with the additional step. Order Entry: Where on the item information screen would you specify an item is restricted for use in Order Entry transactions only? - answer-Item Type Order Entry: What happens when advanced Workflow is enabled in the Order Entry application? - answer-Advanced workflow is enabled in the Order Entry, Purchasing, and Inventory applications Reporting: If you plan to use the project, customer, item, and employee dimensions, they should first be enabled where? - answer-GL Configuration Reporting: What field in the GL accounts screen ensures the account's balance flows through to the system's pre-defined QuickStart financial reports? - answer-Account Category Reporting: How do you save a standard report with the present time periods, filters, and format settings? - answer-Memorize Reporting: A good way to see if your account groups are mapped correctly is to ... - answer-View the Account Group Hierarchy report Reporting: What rolls-up and organizes General Ledger Accounts, creates headings, subtotals and hierarchies in reports, and is reusable across multiple reports? - answer-Account Groups Reporting: What account group structure type would you use to show the total revenue per employee on a financial report? - answer-Statistical Category Reporting: What works in conjunction with reporting periods when running financial reports? - answer-As-Of-Date Accounts Payable: AP approvals are based on what amount? - answer-Bill Amount Accounts Payable: What record separates cash and accrual transactions for reporting in the AP configuration screen? - answer-Journals Accounts Payable: How can vendors be organized into categories for reporting? - answer-Vendor types Accounts Payable: What determines a vendor's payment due date, discounts for early payment and penalties for late payment? - answer-AP Terms Accounts Payable: How can you edit accounting information on both partially and fully paid bills and adjustments? - answer-Reclassification Accounts Payable: Where do you enter a vendor bill that needs to include line items from two separate entities in a multi-entity shared environment? - answer-Top Level Accounts Payable: In a cash basis company, when does the system post a vendor's bill expense account to the General Ledger? - answer- Accounts Payable: What is the status of a vendor bill that can be reversed? - answer-Unpaid Accounts Payable: What marks a check number unavailable for re-use and makes the vendor bill available to be paid again? - answer-Voiding a check Accounts Payable: Which report displays a list of vendors to whom you owe or owed money and how many days you are past due? - answer-Vendor Aging Accounts Payable: What transaction type increases the amount you owe to a vendor? - answer-Credit Memo Company: It is not a best practice to set Slide-In permissions to 'Subordinate Company (anonymous slide-in users)' since all console users would appear as the same user with the name - answer-CPAUser Company: What type of client environment shares vendors, customers, chart of accounts, and can create automatic inter-entity transactions? - answer-Multi-Entity Shared Company: What do you need to specify during company creation to use the out-of-the-box account groups and financial reports? - answer-Quick start setup templates Company: When would you select to use custom accounting periods in a client environment? - answer-13 periods in a year Company: What type of user can add a journal entry in the system? - answer-Business User Company: What record cannot be restricted in a multi-entity shared environment when entity restrictions are enabled? - answer-GL Account Company: If a business user is assigned a role with permissions to approve employee expenses and another role to enter vendor bills, what functions will that user be able to perform in the system? - answer-Approve Expenses and Enter Bills Company: When a company is created using the Service Industry Quickstart template, what records are not automatically created? - answer-GL Account Company: What records are not automatically included in a client company created using a console template? - answer-Transactions Company: A limited admin user cannot perform which function? - answer-Create Admin Users Company: To make a dimension value required anytime a GL account is used in a transaction, select the dimension on the - answer-GL account screen Cash Management: What reconciliation method matches up cleared items for you to examine before reconciling the checking account? - answer-Auto-match with review Cash Management: Where do you enter checks and deposits that were open as of the last bank reconciliation you perfmed before your company migrated to Sage Intacct? - answer-Initial open items Cash Management: What record is associated with a credit card so you can pay off charges using Accounts Payable and must be unique? - answer-Vendor Cash Management: Where must a checking account be created to use automated inter-entity transactions? - answer-Top level Cash Management: What field in a checking account keeps transactions separate when you reconcile accounts and must be unique - answer-GL account Cash Management: When entity 1 pays a bill for entity 2, an inter-entity transaction is created based on what field in entity 1's checking account? - answer-Location ID Cash Management: What creates vendor bills from existing credit card transactions in Cash Management? - answer-Charge payoffs Cash Management: What check printing option requires ordering check stock in advance, using separate check stock for each checking account, and printing from one checking account at a time? - answer-Pre-printed check stock