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SAGE INTACCT IMPLEMENTATION EXAM
ACTUAL EXAM QUESTIONS AND CORRECT
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GL-010: Budgets Requirement: System should support entering or importing budgets for budget to actual reports. Where solution is found in Sage Intacct (if applicable) ------CORRECT ANSWER---------------Budgets > All > Budgets > Budgets repository Note: Budgets can be imported on the Company Setup Checklist GL-010: Budgets Requirement: System should support entering or importing budgets for budget to actual reports. a. Standard functionality b. Workaround c. Marketplace solution ------CORRECT ANSWER---------------Standard functionality GL-010: Budgets Requirement: System should support entering or importing budgets for budget to actual reports. Solution Description ------CORRECT ANSWER---------------No configuration needed. Related permissions: General Ledger > Budgets: List, View, Add, Edit, Delete
GL-011: Reports Requirement:System should provide a general ledger report that displays summary or detail information. a. Standard functionality b. Workaround c. Marketplace solution ------CORRECT ANSWER---------------Standard functionality GL-011: Reports Requirement:System should provide a general ledger report that displays summary or detail information. Where solution is found in Sage Intacct (if applicable) ------CORRECT ANSWER---------------General Ledger Report Set Show transaction presentation to Summary or Details GL-011: Reports Requirement:System should provide a general ledger report that displays summary or detail information. Solution Description ------CORRECT ANSWER---------------No configuration needed. Related permissions: Reports > General Ledger: Run GL-012: Reports Requirement:System should provide financial reports that display summary or detail information, expanded dimensions, budget to actual comparisons, and period comparisons a. Standard functionality b. Workaround c. Marketplace solution ------CORRECT ANSWER---------------Standard functionality
Where solution is found in Sage Intacct (if applicable) ------CORRECT ANSWER---------------Cash Management > All > Transactions > Funds Transfer CM-001: Banks Requirement:System should support recording transfers between bank accounts. Solution Description ------CORRECT ANSWER---------------No configuration needed. Related permissions: Funds Transfers: List, View, Add, Reverse CM-002: Credit cards Requirement:Cash Management should support recording credit card transactions paid to vendors. a. Standard functionality b. Workaround c. Marketplace solution ------CORRECT ANSWER---------------b. Workaround CM-002: Credit cards Requirement:Cash Management should support recording credit card transactions paid to vendors. Where solution is found in Sage Intacct (if applicable) ------CORRECT ANSWER---------------This is a workaround for Cash Management, but standard functionality in the system. Use Accounts Payable, not Cash Management, to track credit card payments made to vendors. CM-002: Credit cards Requirement:Cash Management should support recording credit card transactions paid to vendors.
Solution Description ------CORRECT ANSWER---------------Cash Management supports credit card payments to payees; Accounts Payable supports credit card payments to vendors. These transactions should be entered as Accounts Payable bills (not Credit card transactions) and paid with a credit card in Accounts Payable. Set up credit cards in Cash Management to use them for payment methods in Accounts Payable. CM-003: Receipts Requirement: System should support recording receipts not related to customer transactions. a. Standard functionality b. Workaround c. Marketplace solution ------CORRECT ANSWER---------------Standard functionality CM-003: Receipts Requirement: System should support recording receipts not related to customer transactions. Where solution is found in Sage Intacct (if applicable) Solution Description ------CORRECT ANSWER---------------Cash Management > All > Transactions > Other receipts CM-003: Receipts Requirement: System should support recording receipts not related to customer transactions. Solution Description ------CORRECT ANSWER---------------The Other receipts transaction tracks receipts from payers, not customers. No configuration needed. Related permissions: Other Receipts: List, View, Add, Edit, Delete, Reverse
Requirement: Requirement: System should automatically record an intercompany due to/due from transaction when one entity pays a bill that belongs to another entity.
- Solution type a. Standard functionality b. Workaround c. Marketplace solution ------CORRECT ANSWER---------------a. Standard functionality ME-001: Intercompany transactions Requirement: System should automatically record an intercompany due to/due from transaction when one entity pays a bill that belongs to another entity. Where solution is found in Sage Intacct (if applicable) ------CORRECT ANSWER---------------Company > Setup > Configuration > Entities ME-001: Intercompany transactions Requirement: System should automatically record an intercompany due to/due from transaction when one entity pays a bill that belongs to another entity. Solution Description ------CORRECT ANSWER---------------The journal entry is automatically created based on the settings defined on the Inter-entity Setup page. Related permissions: Company > Entities: List, View, Add, Edit, Delete ME-002: User access Requirement: System should support restricting users to viewing and entering data in specific entities. Solution type a. Standard functionality b. Workaround c. Marketplace solution ------CORRECT ANSWER---------------Standard functionality
ME-002: User access Requirement: System should support restricting users to viewing and entering data in specific entities. Where solution is found in Sage Intacct (if applicable) ------CORRECT ANSWER---------------Company > Admin > Users, roles & groups > Users ME-002: User access Requirement: System should support restricting users to viewing and entering data in specific entities. Solution Description ------CORRECT ANSWER---------------On the User Entity tab, users can be restricted to only access and record data for specific entities. Related permissions: Administrative Permissions > Users: List, View, Add, Edit, Delete, Permissions GL-001: Accounts Requirements: System should allow specific users to create, edit, and delete General Ledger accounts. Solution type a. Standard functionality b. Workaround c. Marketplace solution ------CORRECT ANSWER---------------a. Standard functionali GL-001: Accounts Requirements: System should allow specific users to create, edit, and delete General Ledger accounts.
Solution Description ------CORRECT ANSWER---------------No configuration needed. Related permissions: Statistical Journal Entries: List, View, Add, Edit, Delete, Reverse GL-003: Journal entries Requirement: System should display a warning if the user tries to post a journal entry with a date in a future period. Solution type a. Standard functionality b. Workaround c. Marketplace solution ------CORRECT ANSWER---------------a. Standard functionality GL-003: Journal entries Requirement: System should display a warning if the user tries to post a journal entry with a date in a future period. Where solution is found in Sage Intacct (if applicable) ------CORRECT ANSWER---------------Set the option If future GL posting date to Allow and warn. Related permissions: Administrative Permissions > Application Subscriptions: Configure GL-003: Journal entries Requirement: System should display a warning if the user tries to post a journal entry with a date in a future period. Solution Description ------CORRECT ANSWER---------------General Ledger Configuration GL-004: Journal entries Requirement: System should support reversing journal entries Solution type a. Standard functionality b. Workaround
c. Marketplace solution ------CORRECT ANSWER---------------a. Standard functionality GL-004: Journal entries Requirement: System should support reversing journal entries Where solution is found in Sage Intacct (if applicable) ------CORRECT ANSWER---------------On the journal entry or journal entry list, select Reverse. GL-004: Journal entries Requirement: System should support reversing journal entries Solution Description ------CORRECT ANSWER---------------No configuration needed. Permissions needed: Journal Entries: Reverse GL-005: Journal entries Requirement:System should support recurring journal entries. a. Standard functionality b. Workaround c. Marketplace solution ------CORRECT ANSWER---------------a. Standard functionality GL-005: Journal entries Requirement:System should support recurring journal entries. Where solution is found in Sage Intacct (if applicable) ------CORRECT ANSWER---------------General Ledger > All > Journal entries > Recurring GL-005: Journal entries Requirement:System should support recurring journal entries.
GL-007: Journal entries Requirement: System should support automatically calculating and posting payroll. a. Standard functionality b. Workaround c. Marketplace solution ------CORRECT ANSWER---------------Marketplace solution GL-007: Journal entries Requirement: System should support automatically calculating and posting payroll. Where solution is found in Sage Intacct (if applicable) ------CORRECT ANSWER---------------n/a GL-007: Journal entries Requirement: System should support automatically calculating and posting payroll. Solution Description ------CORRECT ANSWER---------------Evaluate payroll solutions in the Sage Intacct Marketplace. GL-008: Approvals Requirement: System should support approvals for journal entries prior to posti a. Standard functionality b. Workaround c. Marketplace solution ------CORRECT ANSWER---------------Standard functionality GL-008: Approvals
Requirement: System should support approvals for journal entries prior to posting. Where solution is found in Sage Intacct (if applicable) ------CORRECT ANSWER---------------General Ledger Configuration GL-008: Approvals Requirement: System should support approvals for journal entries prior to posting. Solution Description ------CORRECT ANSWER---------------Select the option to Enable journal entry approvals. Set the approver(s) for each journal that requires approvals. Note: In order to select approvers, you must first assign them permission to approve journal entries. Related permissions: Approve Journal Entries GL-009: Approvals Requirement: System should allow another user to approve a journal entry if the primary approver submitted the entry. a. Standard functionality b. Workaround c. Marketplace solution ------CORRECT ANSWER---------------a. Standard functionality GL-009: Approvals Requirement: System should allow another user to approve a journal entry if the primary approver submitted the entry. Solution Description ------CORRECT ANSWER---------------In the Approval options section, deselect Submitter can approve own entries. Then set up substitute approvers for each journal. Related permissions: Approve Journal Entries
AP-001: Terms Requirement:System should provide these payment terms for use with vendor transactions: Net 7 Net 15 Net 30 Net 45 Due upon receipt Solution Description ------CORRECT ANSWER---------------Create terms. Terms are shared with Accounts Payable and Purchasing applications. Related permissions: AP Terms: List, View, Add, Edit, Delete AP-002: Vendors Requirement:System should automatically assign a sequential vendor ID to imported or manually created vendor records. a. Standard functionality b. Workaround c. Marketplace solution ------CORRECT ANSWER---------------Standard functionality AP-002: Vendors Requirement:System should automatically assign a sequential vendor ID to imported or manually created vendor records. Where solution is found in Sage Intacct (if applicable) ------CORRECT ANSWER---------------Accounts Payable Configuration AP-002: Vendors Requirement:System should automatically assign a sequential vendor ID to imported or manually created vendor records.
Solution Description ------CORRECT ANSWER---------------Add a document sequencer for Vendors. Related permissions: Administrative Permissions > Application Subscriptions: Configure AP-003: Bills Requirement: System should allow specific users to edit and delete unpaid bills in an open period. a. Standard functionality b. Workaround c. Marketplace solution ------CORRECT ANSWER---------------Standard functionality AP-003: Bills Requirement: System should allow specific users to edit and delete unpaid bills in an open period. Where solution is found in Sage Intacct (if applicable) ------CORRECT ANSWER---------------On the bills list, select Reverse or Delete AP-003: Bills Requirement: System should allow specific users to edit and delete unpaid bills in an open period. Solution Description ------CORRECT ANSWER---------------Bills can be edited, no configuration needed. In Accounts Payable Configuration, you must deselect Enable reversal of unpaid bills to allow unpaid bills to be deleted. Related permissions: Bills: Delete, Reverse AP-004: Bills Requirement: System should allow specific users to edit and delete unpaid bills in a closed period.
Where solution is found in Sage Intacct (if applicable) ------CORRECT ANSWER---------------Accounts Payable Configuration AP-005: Bills Requirement: System should require the bill number when saving a draft bill or posting a bill Solution Description - -----CORRECT ANSWER---------------For the Numbers are required on setting, select Bills, adjustments, and recurring bills only. Related permissions: Administrative Permissions > Application Subscriptions: Configure AP-006: Bills Requirement: System should allow the GL posting date to be different from the bill date. a. Standard functionality b. Workaround c. Marketplace solution ------CORRECT ANSWER---------------Standard functionality AP-006: Bills Requirement: System should allow the GL posting date to be different from the bill date. Where solution is found in Sage Intacct (if applicable) ------CORRECT ANSWER---------------Accounts Payable Configuration AP-006: Bills Requirement: System should allow the GL posting date to be different from the bill date. Solution Description ------CORRECT ANSWER---------------Enable override of the GL posting date during entry. Related permissions: Administrative Permissions > Application Subscriptions: Configure
AP-007: Payments Requirement: System should support automatic entry and payments of recurring bills a. Standard functionality b. Workaround c. Marketplace solution ------CORRECT ANSWER---------------Workaround AP-007: Payments Requirement: System should support automatic entry and payments of recurring bills Where solution is found in Sage Intacct (if applicable) ------CORRECT ANSWER---------------Accounts Payable > All > Bills > Recurring AP-007: Payments Requirement: System should support automatic entry and payments of recurring bills Solution Description ------CORRECT ANSWER---------------The system can automatically create bills according to a user-defined schedule, but bills must be paid using the standard bill payment process. Related permissions: Recurring Bills: List, View, Add, Edit, Delete AP-008: Payments Requirement: System should support these payment types: Checks Wire ACH EFT Credit Card
