Sage Intacct Implementation Exam Questions and
Correct Answers
True or False: A company's fiscal year can be different from the calendar year -
ANSWER True - fiscal year can be set to specific months according to company
structure. Does not have to align with conventional calendar year format of Jan - Dec.
True or False: Sub-accounts are included in the main GL account for reporting. -
ANSWER False - sub-accounts provide a longer, more distinguishable GL account
number. Sub-accounts do not 'roll-up' to any other GL account for reporting.
What dimension status does NOT allow the dimension to be used in a transaction?
(select all that apply).
A. Active
B. Active non-posting
C. Inactive - ANSWER B & C - active non-posting and inactive cannot be used
when creating transactions. However, for reporting, both active and active non-posting
can be used. Inactive is not including in transactions or reporting.
Which type of user can have administrative privileges?
a. Business
b. Employee
c. Project Manager
d. Platform - ANSWER A. Business User
How can you use the employee dimension? (select all that apply)
a. employees log in to Sage Intacct
b. Assign employees as department managers
c. transactions can be coded to employees
d. assign permissions to employees - ANSWER B & C - you cannot assign
permissions to employees. Permissions can only be assigned to users. Also, employees
are not granted login access to Sage Intacct, this is only for users.
True or False: You can assign multiple roles to a user - ANSWER True - users may
be assigned as many roles as needed.
How do you configure the User entities tab of the user to grant access to all existing
entities?
a. do not select any entities
b. select each existing entity
, c. select enable access to top-level - ANSWER A. Do not select any entities. It is
advised not to specify all entities for granting users access to all entities, instead if no
entities are selected for a user, they are consider unrestricted and will have visibility to
all entities and top-level.
True or False: A Location can be assigned to multiple entities - ANSWER False - a
location can be assigned to another location or a single entity, not multiple.
True or False: When you post a transaction to the Accounts Payable Journal, the
transaction also posts to the Accounts Payable application. - ANSWER False -
journal entries do not create items in subledgers. Only transactions entered in
subledgers will create journal entries by default in specified GL journals.
How do you post a journal entry to a closed period?
a. assign permissions to post journal entries to closed periods
b. post an adjusting journal entry
c. you cannot post entries to a closed period - ANSWER B. Post an adjusting
journal entry - only adjusting journal entries can be posted to closed periods. If the
period is also locked, no entries (including adjustments) can be posted.
What are the characteristics of a deleted journal entry?
a. does not appear in the audit trail
b. can be recovered from trash bin and posted
c. creates an offset transaction so the 2 transactions net to zero. - ANSWER A.
does not appear in the audit trail.
You try to add a transaction for the express bank credit card, but that credit card does
not show in the drop-down menu. What could cause this?
a. credit card expiration date is in the past
b. you do not have permission to that credit card
c. the credit card needs a vendor assigned. - ANSWER A - credit card expiration
date is in the past.
Note:
- expired credit cards cannot be used in transactions.
- permissions cannot be assigned to individual credit cards
- credit cards must have a vendor, but the vendor is selected when the credit card is set
up (would not cause this issue).
True or False: Each bank account must have a unique General Ledger Account. -
ANSWER True - one GL account per bank account.
Correct Answers
True or False: A company's fiscal year can be different from the calendar year -
ANSWER True - fiscal year can be set to specific months according to company
structure. Does not have to align with conventional calendar year format of Jan - Dec.
True or False: Sub-accounts are included in the main GL account for reporting. -
ANSWER False - sub-accounts provide a longer, more distinguishable GL account
number. Sub-accounts do not 'roll-up' to any other GL account for reporting.
What dimension status does NOT allow the dimension to be used in a transaction?
(select all that apply).
A. Active
B. Active non-posting
C. Inactive - ANSWER B & C - active non-posting and inactive cannot be used
when creating transactions. However, for reporting, both active and active non-posting
can be used. Inactive is not including in transactions or reporting.
Which type of user can have administrative privileges?
a. Business
b. Employee
c. Project Manager
d. Platform - ANSWER A. Business User
How can you use the employee dimension? (select all that apply)
a. employees log in to Sage Intacct
b. Assign employees as department managers
c. transactions can be coded to employees
d. assign permissions to employees - ANSWER B & C - you cannot assign
permissions to employees. Permissions can only be assigned to users. Also, employees
are not granted login access to Sage Intacct, this is only for users.
True or False: You can assign multiple roles to a user - ANSWER True - users may
be assigned as many roles as needed.
How do you configure the User entities tab of the user to grant access to all existing
entities?
a. do not select any entities
b. select each existing entity
, c. select enable access to top-level - ANSWER A. Do not select any entities. It is
advised not to specify all entities for granting users access to all entities, instead if no
entities are selected for a user, they are consider unrestricted and will have visibility to
all entities and top-level.
True or False: A Location can be assigned to multiple entities - ANSWER False - a
location can be assigned to another location or a single entity, not multiple.
True or False: When you post a transaction to the Accounts Payable Journal, the
transaction also posts to the Accounts Payable application. - ANSWER False -
journal entries do not create items in subledgers. Only transactions entered in
subledgers will create journal entries by default in specified GL journals.
How do you post a journal entry to a closed period?
a. assign permissions to post journal entries to closed periods
b. post an adjusting journal entry
c. you cannot post entries to a closed period - ANSWER B. Post an adjusting
journal entry - only adjusting journal entries can be posted to closed periods. If the
period is also locked, no entries (including adjustments) can be posted.
What are the characteristics of a deleted journal entry?
a. does not appear in the audit trail
b. can be recovered from trash bin and posted
c. creates an offset transaction so the 2 transactions net to zero. - ANSWER A.
does not appear in the audit trail.
You try to add a transaction for the express bank credit card, but that credit card does
not show in the drop-down menu. What could cause this?
a. credit card expiration date is in the past
b. you do not have permission to that credit card
c. the credit card needs a vendor assigned. - ANSWER A - credit card expiration
date is in the past.
Note:
- expired credit cards cannot be used in transactions.
- permissions cannot be assigned to individual credit cards
- credit cards must have a vendor, but the vendor is selected when the credit card is set
up (would not cause this issue).
True or False: Each bank account must have a unique General Ledger Account. -
ANSWER True - one GL account per bank account.
