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SAGE INTACCT IMPLEMENTATION EXAM
| QUESTIONS & 100% CORRECT ANSWERS
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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 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 General Ledger: What does an entity translate to for transacting in a multi-entity shared environment? Correct Answer: Location General Ledger: What would cause a JL journal entry to fail? Correct Answer: Modifying template header titles
General Ledger: What do you enable to require approvals for all transactions in a particular journal? Correct Answer: Journal Entry approvals General Ledger: What records are used to track non financial data, such as employee headcount or the number of members? Correct Answer: Statistical Accounts General Ledger: What process prevents entries and/or changes to a ledger for a specific period? Correct Answer: Closing the books General Ledger: Which type of journal entry is used for posting to a closed period? Correct 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? Correct 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? Correct Answer: Partial Conversion Handling
Accounts Receivables: What feature provides user-friendly names for GL accounts when entering customer invoices? Correct Answer: Account Labels Accounts Receivables: What determines how customer discounts can be calculated on the full transaction amount or total line items only? Correct Answer: AR Terms Accounts Receivables: How do you ensure Customer Invoices have no impact on the General Ledger? Correct Answer: Import AR Invoices and select historical posting Accounts Receivables: How are new IDs or numbers automatically generated for customers and transactions? Correct Answer: Document Sequencer Accounts Receivables: What accounts Receivable configuration option prevents you from deleting updating invoices? Correct 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? Correct Answer: Account Labels
Accounts Receivables: How do you post an undeposited funds payment receipt to cash in Accounts Receivables? Correct Answer: Create a deposit Accounts Receivables: What field name must be unique when importing customers in a .csv import template? Correct Answer: CUST_NAME Time & Expense: What provides recognizable names to the G/L accounts used in expense reports in the T&E application? Correct Answer: Expense types Time & Expense: What option enables approvals for paying employee expense reports? Correct Answer: Expense reports approvals Time & Expense: How is the manager field used in the employee information screen? Correct 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? Correct Answer: User
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? Correct 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? Correct Answer: Item Type Order Entry: What happens when advanced Workflow is enabled in the Order Entry application? Correct 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? Correct 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? Correct Answer: Account Category
Reporting: How do you save a standard report with the present time periods, filters, and format settings? Correct Answer: Memorize Reporting: A good way to see if your account groups are mapped correctly is to ... Correct 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? Correct Answer: Account Groups Reporting: What account group structure type would you use to show the total revenue per employee on a financial report? Correct Answer: Statistical Category Reporting: What works in conjunction with reporting periods when running financial reports? Correct Answer: As-Of-Date Accounts Payable: AP approvals are based on what amount? Correct Answer: Bill Amount
Accounts Payable: What is the status of a vendor bill that can be reversed? Correct Answer: Unpaid Accounts Payable: What marks a check number unavailable for re-use and makes the vendor bill available to be paid again? Correct 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? Correct Answer: Vendor Aging Accounts Payable: What transaction type increases the amount you owe to a vendor? Correct 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 Correct Answer: CPAUser Company: What type of client environment shares vendors, customers, chart of accounts, and can create automatic inter-entity transactions? Correct 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? Correct Answer: Quick start setup templates Company: When would you select to use custom accounting periods in a client environment? Correct Answer: 13 periods in a year Company: What type of user can add a journal entry in the system? Correct Answer: Business User Company: What record cannot be restricted in a multi-entity shared environment when entity restrictions are enabled? Correct 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? Correct Answer: Approve Expenses and Enter Bills Company: When a company is created using the Service Industry Quickstart template, what records are not automatically created? Correct Answer: GL Account
Cash Management: Where must a checking account be created to use automated inter- entity transactions? Correct Answer: Top level Cash Management: What field in a checking account keeps transactions separate when you reconcile accounts and must be unique Correct 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? Correct Answer: Location ID Cash Management: What creates vendor bills from existing credit card transactions in Cash Management? Correct 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? Correct Answer: Pre-printed check stock
