Sage Intacct Implementation Exam Questions and Correct Answers
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 Ledg...
Sage Intacct Implementation Exam Questions and Correct Answers 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 tr ansacting 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 t ransactions 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 enabl es 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 t he 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 d efined? - 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 Stat ement 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 c ustomer 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 ensur e 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 Docum ent 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 Inv oices is available only if you have enabled what feature in AR Configuration? - ANSWER Account Labels
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