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NetSuite ERP Consultant (Actual) Exam
124 subsidiaries, plus 1 root (125) maximum - ANS-inactive subsidiary does not count towards the total 2 pages where asset records can be created from transactions - ANS-Asset Proposal & Asset Creation 3 options for entering go-live AR & AP transactions - ANS-1. customer/vendor > financial tab > opening balance; 2. import or manual recreation of fully detailed bill; 3. use a fake non-inventory item tagged to uncategorized account (preferred) 3 ways to enter go-live inventory count - ANS-1.enter on hand count upon create; 2. adjust inventory; 3. adjust inventory worksheet 6 tax editions - ANS-International, US, Japan, UK, Canada, Australia A company has customers with centralized purchasing departments that buy products for multiple locations at the same time. The customers want the products shipped to different locations from the same order. Which 2 features need to be enabled? - ANS- Multiple Shipping Routes & Enable Line Item Shipping A company has decided to use the Class segment to track product lines on sales. They would like to force users to enter a value in this field and have configured the system to show the class field at the line level of transactions. What 2 configs are required? - ANS-1. Enable the account pref: Make Classes Mandatory, 2. Create a dummy value called "No Class" A company is a big box retailer of kitchen appliances. Each appliance has a unique 13- digit alphanumeric code - ANS-serialized inventory items A company sells yearly service contracts for $1,000 that require 10% initial fee. These are sometimes discounted. They bill at the end of the month. What's the settings - ANS- Initial Amount set to 10%, In Arrears is Enabled, Recurrence count is 12 A company uses a custom transaction body field to track informatino on SO's. The field should populate with the supervisor of the current user - ANS-Set a dynamic default of "Current User's Supervisor" on the Validation & Defaulting tab when setting up the custom transaction body field A company's corp policy requires re-approval for any changes made to approved sales orders prior to fulfillment. A SO was entered, approved, then changed but did not go back thru the approval process. Why? - ANS-The "Require re-approval"pref is not set
A customer has multiple open SO's on file. A customer deposit is applied to the wrong sales order. What process to unlink? - ANS-Change the SO to a cash sale A customer needs to report outgoing order information from several warehouse locations - ANS-Use a Saved Search using Summary functionality on the Results columns adjust inventory - ANS-user interface; will not create a static number for go live; can be imported using suitetalk web services adjust inventory transaction - ANS-inclusive of stock total; lot number and serialize are visible; if no cost then adustment has zero value and no GL impact adjust inventory worksheet - ANS-exclusive of previous stock total - resets the count to the quantity entered; uses average cost so it overrides FIFO/LIFO advanced inventory management - ANS-calculate reorder based on historical data; assumes demand is mostly constant; reordering based on reorder point may create excess inventory Advanced receiving - ANS-needed to be able to receive & bill pay separately Advanced shipping - ANS-needed to be able to fulfill & invoice separately All multi-curr features are enabled in a One-World account. What does the Base Currency column with a value of "Yes" mean - ANS-The currency is used on subsidiary records or the company information Allow Child Record Editing - ANS-allow records to be edited directly when they display as a SUBLIST Alternate Date Range options - ANS-Date An employee reports eight hours of consulting services for 3 days to the same customer. Which 2 invoicing prefs will produce an invoice within 24 hours of time at the billable rate? - ANS-Group Time by Employee, and Combine Time Items on Invoices An Invoiced Saved Search needs to display the Items and Original quantities from the SO. Which join relationship - ANS-Created from fields Assembly items - ANS-Members: non inventory & other charges; item price is INDEPENDENT of members; separate COGS, income from components; decrease asset accounts of member items and increase asset account of the assembly Asset Creation - ANS-skips the proposal stage and creates the new assets
Display "unassigned" in results if blank - ANS-IS NULL Display date by day of the week - ANS-TO_CHAR each subsidiary has a base currency - ANS- Enable Inline Editing - ANS-allow records to be edited directly when they display as a LIST Enable Optimistic Locking - ANS-causes the system to check for conflicting updates when users attempt to save updates to a custom record instance Enable System Notes - ANS-tracks all changes made to a record enter purchase transations on the day of go-live - ANS-manual entry, csv import, web services, one world does not matter enter the inventory adjustment on the day of go-live - ANS-manual entry and web services only enter the inventory worksheet on the day of go-live - ANS-manual entry and csv import only Hide or disable the custom form field - ANS-Other users, like Admins, would not be able to switch out of this custom form If subsidiaries share multple Nexuses, setup in the correct order - ANS-1. International Tax, 2. Subsidiary, 3. Tax Agency, 4. Nexus, 5. Tax Codes, groups, schedules, types, periods inventory Items, assemblies, and service items - ANS-can all be members of Assemblies, Kits, and Item Groups inventory worksheet - ANS-csv importable; point in time inventory count invoice in advance of receipt - ANS-AP invoice in advance of ship - ANS-AR item groups - ANS-INDEPENDNT price; accounts specified on members; descrease asset of members; Only GROUPS allow you to change members on the fly on the transaction record kit items - ANS-item price is INDEPENDENT of members; separate INCOME acct; decrease asset of components
Landed Cost can be by - ANS-Weight, Cost, Quantity, or manual nexus - ANS-defines jurisdiction in which you collect & pay sales and/or purchase taxes; required component of Advanced tax functionaltiy normally the base currency is the local currency, but reporting that subsid in the context of the different parent, and then translate (using the consolidated rate) to report in the parent's currency - ANS- On the custom form, mark Preferred for the user's role - ANS-User still has access to other custom forms Order steps for CSV import - ANS-1. plan, 2, segregate, 3 import customer, 4 import contacts, 5 validate Pricing applied according to the quantity included in the line item - ANS-by Line Quantity Pricing is applied for all items in the same hierarchy - ANS-by Overall Parent Quantity Pricing is applied for all line items for the same item on a transaction - ANS-by Overall Item Quantity printed and email versions of a custom HTML form look different, explain - ANS-the transaction form is not using the layout they just created in the Print Template field Purchasing department creates PO's and needs to enter the vendor bill prior to the goods being received - ANS-Enable Bill in Advance of Receipt functionality Purchasing department needs to track defective items that are returned to the vendor replacement or credit. What settings? - ANS-Enable the Vendor Return Auth, and Use the standard Vendor Activity report record groups - ANS-Entities, Transactions, CRM, Items, Custom Returns value based on different conditions - ANS-CASE Revenue Commitment - ANS-Allows recognition of revenue before invoicing Revenue Recognition Schedule - ANS-Shows list of Rev Rec JE to be generated Revenue Recognition Template - ANS-Allows definition of % of rev to be recognized up front service items - ANS-allow tracking of time & recording billable hours
tax agency - ANS-defines a vendor record as the taxing authority to which taxes are paid on behalf of customers, from the tax code tax code - ANS-determines tha amount of tax applied to each line item on your transaction tax control account - ANS-define tax types & contain GL postings of indirect taxes such as VAT and sales tax tax group - ANS-combines several tax codes that can then be applied to a transaction tax period - ANS-expressly for the tax reporting in all non-US & non-Canada editions, & set up is similar to the setup of accounting periods tax schedule - ANS-determines how NS calculates taxes for items within each nexus tax type - ANS-defines where the paid or collected tax is tracked on the balance sheet & used to define tax codes The Sales Manager manages 4 teams. Which dashboard feature to show increase in company sales, relative contribution to overal, and team size - ANS-KPI scorecard portlet There is an "in Transit" option for inventory during which time it is not counted as an asset for either subsidiary - ANS-FALSE To avoid divide by zero errors; if the results is zero, replace with null - ANS-NULLIF transaction types supporting asset creation - ANS-Assembly build, vendor bill, inventory adjust, inventory transfer, item receipt, journal, credit card, check, expense report use consolided exchange rates to translate transactions and balances between base currency & the currency you are reporting in (1 of the parent currencies) - ANS- use external ids when importing: - ANS-1. entities with parent/child relationships; 2. entities using auto-generated numbers; 3. external ids make it easier to import transactions and CRM records by avoiding use of EntityIDs Use the Restricted checkbox under Customize Role > Forms - ANS-This is the best method VSOE - ANS-Allows auto-allocation of revenue across elements sold in a bundle
What are 2 considerations for shipping integration - ANS-Tracking numbers assigned on the fulfillment flow back to the SO, and Both FedEx and UPS support use of negotiated rates What are 2 recommended practices when publishing dashboards - ANS-Label publishing roles to identy, Create separate publishing roles for each center What impact does the manager commission sched have on the commissions a manager receives - ANS-Manager schedules calculate commission for Sales Managers based on the sales made by Sales Reps they manage, as well as the sales they make directly What is a benefit of viewing Chart of Accounts with Show Inactives Marked - ANS- Amounts posted to inactive default accounts are visible what is the format of a custom field ID recommended by NS - ANS-custbody_[company identifier]_[field name] What is the impact of changing an Asset account on item records - ANS-If there are transactions with that item in closed periods, the account cannot be changed on the item record What is the impact of enabling the "Void Transactions Using Reversing Journals" setting
- ANS-It displays a VOID button on the transaction and creates a Reversing JE What is the impact of using the "Filter Using" setting when creating a custom Trans Body field, beyond allowing the user to source data onto the transaction? - ANS-This field allows the dynamic filtering of the list/record field by a particular attribute what is the implication of: import custom records in place of transactions - ANS-this will not show on financial reports What is the implication of: import invoices for the last two years - ANS-it may require creation of items no longer being sold, and it affects GL what is the implication of: import JE for each month of the last two years - ANS-Enter opening balanceds dated to two years ago what is the implication of: persuade the customer to forego this requirement - ANS-After running NS for two years, comparative reports will then be available When buliding a saved search where "use expressions" is checked, which 2 requirements? - ANS-1. Available Filter in the Filter region cannot be same as the Criteria, 2. Parenthesis must balance
Which statement is true about enabling the Multi-Location Inventory feature? - ANS-The Enable Multi-Lccation Inventory feature can be enabled anytime after enabling the Inventory Feature Which statement is true about the default impact of receiving a customer return - ANS- Returned item is added to available inventory Which statement is trure regarding the Fixed Asset Management setup option to "Restrict Ability to Reject Proposals" - ANS-If this option is checked, only NS Admin can reject proposals Which two can be enabled by NS customer support - ANS-Bulk Transaction Delete, and Trigger a COGS recalculation Which two statements are true about intercompany inventory transactions - ANS-Drop Ship and Special Order are both supported between subsidiaries, AND Pick Pack Ship is an otion for Interco transfers Which two statements are true about the Multiple Calendars feature - ANS-Without this feature, the Tax Years are the same across all subsids, AND With this feature, different fiscal calendar defs can be used on the same subsid for accounting & tax periods With credit card integratino enabled, what happens when a standalone cas sale is saved - ANS-Authorize and charge/capture credit card workflow triggers - client side - ANS-before user submit, before record submit workflow triggers - server side - ANS-scheduled, before record submit, after field edit, before user edit, after field sourcing, edit Year End Automatic Close - ANS-no JE required, closing the period per a normal close will finalize the year Year End Manual Close - ANS-manually post the year end journal entry to zero amounts in P&L and post to Retained Earnings you can change the primary currency on a customer or vendor record, resets the default for transactions, credit limits, and aggregate balance - ANS-If primary currency is changed you must re-enter the credit limit, cannot remove any currencies which have transactions against them
