Sage Intacct Implementation Guide | Step-by-
Step Setup|100% Verified Questions with
Detailed Answers |Graded A +
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
Purchasing: What dimension represents goods or services
purchased from a vendor?
Correct Answer:
Item
,Purchasing: How does the system determine what type of
transactions require aproval, what approvals are required, and the
sequence of approvals?
Correct Answer:
Approval Policies
Purchasing: What transaction definition setting requires at least one
debit/credit account pair defined?
Correct Answer:
Transaction Posting set to Accounts Payable
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?
Correct Answer:
Statement
Accounts Receivables: What transaction type decreases the amount
a customer owes you?
Correct Answer:
Credit memo
Accounts Receivables: What customer account type causes the
system to apply customer payments against the total balance due?
Correct Answer:
Balance forward
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?
Step Setup|100% Verified Questions with
Detailed Answers |Graded A +
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
Purchasing: What dimension represents goods or services
purchased from a vendor?
Correct Answer:
Item
,Purchasing: How does the system determine what type of
transactions require aproval, what approvals are required, and the
sequence of approvals?
Correct Answer:
Approval Policies
Purchasing: What transaction definition setting requires at least one
debit/credit account pair defined?
Correct Answer:
Transaction Posting set to Accounts Payable
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?
Correct Answer:
Statement
Accounts Receivables: What transaction type decreases the amount
a customer owes you?
Correct Answer:
Credit memo
Accounts Receivables: What customer account type causes the
system to apply customer payments against the total balance due?
Correct Answer:
Balance forward
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?
