Sage Intacct Implementation Test Questions And Answers

Sage Intacct Implementation Test
Questions And Answers
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? - 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? - ANSWER-
Enforce JE balancing

General Ledger: What does an entity translate to for transacting in a multi-entity shared
environment? - ANSWER- Location

General Ledger: What would cause a JL journal entry to fail? - ANSWER- Modifying
template header titles

General Ledger: What do you enable to require approvals for all transactions in a
particular journal? - ANSWER- Journal Entry approvals

General Ledger: What records are used to track non financial data, such as employee
headcount or the number of members? - ANSWER- Statistical Accounts

General Ledger: What process prevents entries and/or changes to a ledger for a
specific period? - ANSWER- Closing the books

General Ledger: Which type of journal entry is used for posting to a closed period? -
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? - 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? - ANSWER-
Partial Conversion Handling

Purchasing: What dimension represents goods or services purchased from a vendor? -
ANSWER- Item

Purchasing: How does the system determine what type of transactions require aproval,
what approvals are required, and the sequence of approvals? - ANSWER- Approval
Policies

, Purchasing: What transaction definition setting requires at least one debit/credit account
pair defined? - 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? -
ANSWER- Statement

Accounts Receivables: What transaction type decreases the amount a customer owes
you? - ANSWER- Credit memo

Accounts Receivables: What customer account type causes the system to apply
customer payments against the total balance due? - ANSWER- Balance forward

Accounts Receivables: What feature provides user-friendly names for GL accounts
when entering customer invoices? - ANSWER- Account Labels

Accounts Receivables: What determines how customer discounts can be calculated on
the full transaction amount or total line items only? - ANSWER- AR Terms

Accounts Receivables: How do you ensure Customer Invoices have no impact on the
General Ledger? - ANSWER- Import AR Invoices and select historical posting

Accounts Receivables: How are new IDs or numbers automatically generated for
customers and transactions? - ANSWER- Document Sequencer

Accounts Receivables: What accounts Receivable configuration option prevents you
from deleting updating invoices? - 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? - ANSWER-
Account Labels

Accounts Receivables: How do you post an undeposited funds payment receipt to cash
in Accounts Receivables? - ANSWER- Create a deposit

Accounts Receivables: What field name must be unique when importing customers in a
.csv import template? - ANSWER- CUST_NAME

Time & Expense: What provides recognizable names to the G/L accounts used in
expense reports in the T&E application? - ANSWER- Expense types

Time & Expense: What option enables approvals for paying employee expense reports?
- ANSWER- Expense reports approvals

Time & Expense: How is the manager field used in the employee information screen? -
ANSWER- Vendor bill approval