Sage Intacct Implementation Exam
Questions and 100% Correct Answers
1. 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?: Non-
closing accounts
2. General Ledger: What GL configuration option prevents users from entering a journal entry
or other transaction that does not balance for the current dimension?: Enforce JE balancing
3. General Ledger: What does an entity translate to for transacting in a mul- ti-entity shared
environment?: Location
4. General Ledger: What would cause a JL journal entry to fail?: Modifying template header
titles
5. General Ledger: What do you enable to require approvals for all transactions in a particular
journal?: Journal Entry approvals
6. General Ledger: What records are used to track non financial data, such as employee
headcount or the number of members?: Statistical Accounts
7. General Ledger: What process prevents entries and/or changes to a ledger for a specific
period?: Closing the books
8. General Ledger: Which type of journal entry is used for posting to a closed period?: Adjusting
9. Purchasing: What enables to categorize items for the purpose of posting to specific GL
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, Accounts when using Advanced Workflows in the purchasing application?: Item GL Group
10. 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?: Partial Conversion
Handling
11. Purchasing: What dimension represents goods or services purchased from a vendor?:
Item
12. Purchasing: How does the system determine what type of transactions require aproval, what
approvals are required, and the sequence of approvals?-
: Approval Policies
13. Purchasing: What transaction definition setting requires at least one deb- it/credit account
pair defined?: Transaction Posting set to Accounts Payable
14. 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?: Statement
15. Accounts Receivables: What transaction type decreases the amount a customer owes
you?: Credit memo
16. Accounts Receivables: What customer account type causes the system to apply customer
payments against the total balance due?: Balance forward
17. Accounts Receivables: What feature provides user-friendly names for GL accounts when
entering customer invoices?: Account Labels
18. Accounts Receivables: What determines how customer discounts can be calculated on the
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Questions and 100% Correct Answers
1. 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?: Non-
closing accounts
2. General Ledger: What GL configuration option prevents users from entering a journal entry
or other transaction that does not balance for the current dimension?: Enforce JE balancing
3. General Ledger: What does an entity translate to for transacting in a mul- ti-entity shared
environment?: Location
4. General Ledger: What would cause a JL journal entry to fail?: Modifying template header
titles
5. General Ledger: What do you enable to require approvals for all transactions in a particular
journal?: Journal Entry approvals
6. General Ledger: What records are used to track non financial data, such as employee
headcount or the number of members?: Statistical Accounts
7. General Ledger: What process prevents entries and/or changes to a ledger for a specific
period?: Closing the books
8. General Ledger: Which type of journal entry is used for posting to a closed period?: Adjusting
9. Purchasing: What enables to categorize items for the purpose of posting to specific GL
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8
, Accounts when using Advanced Workflows in the purchasing application?: Item GL Group
10. 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?: Partial Conversion
Handling
11. Purchasing: What dimension represents goods or services purchased from a vendor?:
Item
12. Purchasing: How does the system determine what type of transactions require aproval, what
approvals are required, and the sequence of approvals?-
: Approval Policies
13. Purchasing: What transaction definition setting requires at least one deb- it/credit account
pair defined?: Transaction Posting set to Accounts Payable
14. 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?: Statement
15. Accounts Receivables: What transaction type decreases the amount a customer owes
you?: Credit memo
16. Accounts Receivables: What customer account type causes the system to apply customer
payments against the total balance due?: Balance forward
17. Accounts Receivables: What feature provides user-friendly names for GL accounts when
entering customer invoices?: Account Labels
18. Accounts Receivables: What determines how customer discounts can be calculated on the
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