NetSuite SuiteFoundations Exam Prep Question Fully Solved.

SuiteBuilder is a point and click tool for customization - correct answer True Use a _________ ________ to control how information is entered and viewed - correct answer Custom Forms A custom record may be a better option than adding too many custom fields to an existing record - correct answer True? Preparation for the Data Import is crucial to a successful import - correct answer True? How can I create a CSV template to use for an import template? - correct answer Export a List view All records may be imported via the import assistant - correct answer False What sort of criteria can you set by going to Setup Company Duplicate Detection? - correct answer Fields to match on, uses a saved search functionality. Which include email, name, etc. Not all fields are allowed. Custom fields are allowed on Customer, also address, first name, last name, phone Whether a company or an individual, NetSuite should look at the email address in the exact same way - correct answer False. Duplicate detection uses the domain name for company evaluation and uses the full email address for contact, individuals. How would you simultaneously edit/change multiple records at once? - correct answer Mass Update Which features allow editing records directly from a list? - correct answer Inline Editing Account Numbers are Mandatory in the Chart of Accounts - correct answer False Turn on this feature at SetupAccountingAccounting PreferencesGeneral You cannot setup past and future accounting periods - correct answer False You cannot do Cash Basis reporting - correct answer False. SetupAccountingAccountingPreferencesGeneral Ledger or on each report edit and go to More Options Subsidiary - correct answer Create for each legal entity Opening Balance - correct answer Balance for each general ledger account Classifications - correct answer Facilitates financial segmenting using departments, classes, and locations Accounting Periods - correct answer Ability to have transactions posted to a period, rather than just a date Tax agencies are whom we pay collected taxes - correct answer True (as vendors) Tax control accounts can be set up manually - correct answer True, but only through the Tax Control Account Setup A tax nexus defines the tax jurisdiction, where business is transacted - correct answer True A subsidiary can only have one tax nexus - correct answer False. Nexus Sublist is available to add multiple Tax schedules are a functionality of Advanced Taxes and determine the tax treatment of items purchased and sold - correct answer True Inventory items can also include serialized and lot numbered inventory if those features have been enabled - correct answer True Non-inventory items are only available for purchase - correct answer False For Purchase, For Resale, For Sale Service items cannot be fulfilled - correct answer False Name the three NetSuite classifications available for reporting and the GL - correct answer Location, Class, Department True or False: Combine the use of classifications with the general ledger account to simplify your chart of accounts - correct answer True Account numbers are mandatory in NetSuite's Chart of Accounts - correct answer False Which feature allows transacting business with vendors and customers in different currencies - correct answer Multiple Currencies What is base currency? - correct answer Base currency is the currency used for your company's, subsidiaries', books The NetSuite _________________ supports localized handling of taxes - correct answer NetSuite Edition True or False: Assemblies, Kits and Item Groups all act the same way in NetSuite - correct answer False If I want to sell an item at different prices, I use _________ __________ - correct answer Price Levels What type of pricing considers the number of items bought? _____________ __________________ - correct answer Quantity Pricing Can you name some of the different types of sales orders? ______________ ______________ ______________ - correct answer Standard Sales Order - Cash Sale Standard Sales Order - Invoice Standard Sales Order Standard Sales Order - Progress Billing A _____________ ______________ decreases the amount a customer owes. - correct answer Credit Memo True or False: An Invoice is open until paid. - correct answer True Can I accept money from a customer in advance of an order in the system? If so, how? - correct answer Yes, Customer Deposit I received a partial quantity of PO line item, the vendor will never ship the remaining quantity. How should I handle the PO and billing the PO? - correct answer I need more control of purchase orders approvals. What can I do in NetSuite? - correct answer Turn on Approvals for POs How can I maintain more control over Vendor Bills and the payment of those bills? - correct answer Turn on Vendor Bill approvals I want to save data entry time on a transaction that