NetSuite ERP Consultant Exam Solution #1.

Which 3 requirements can be addressed using standard NS functionality in Accounting Preferences? - correct answer 1. Automatically Email Drop Ship PO's, 2. Send Order Fulfilled Confirmation Emails, 3. Send Email Confirmation when SO is cancelled. A company has decided to use the Class segment to track product lines on sales. They would like to force users to enter a value in this field and have configured the system to show the class field at the line level of transactions. What 2 configs are required? - correct answer 1. Enable the account pref: Make Classes Mandatory, 2. Create a dummy value called "No Class" Which action is recommended for undesired accounts in preparing for go-live - correct answer Leave undesired accounts active in case transactions post to them What is a benefit of viewing Chart of Accounts with Show Inactives Marked - correct answer Amounts posted to inactive default accounts are visible Which 3 valid characteristics affect seeting up and assigning NS default segments (Dept/Class/Location) - correct answer 1. Locations are available for tracking inventory, 2. Segmenets can be used to restrict data access, 3. Departemnets can be defined in a hierarchy for reporting purposed Which segment combinations require SuiteScript? - correct answer Limit Class to specific Departments (no Script required: Limit account to specific Class or subsid, and limit dept to subsid) Which two statements are true about the Multiple Calendars feature - correct answer Without this feature, the Tax Years are the same across all subsids, AND With this feature, different fiscal calendar defs can be used on the same subsid for accounting & tax periods What is the impact of enabling the "Void Transactions Using Reversing Journals" setting - correct answer It displays a VOID button on the transaction and creates a Reversing JE All multi-curr features are enabled in a One-World account. What does the Base Currency column with a value of "Yes" mean - correct answer The currency is used on subsidiary records or the company information Which functionality is included when the Consolidated Payments feature is enabled - correct answer The A/R Aging report shows the un-consolidated balance for each sub customer A company has customers with centralized purchasing departments that buy products for multiple locations at the same time. The customers want the products shipped to different locations from the same order. Which 2 features need to be enabled? - correct answer Multiple Shipping Routes & Enable Line Item Shipping A company's corp policy requires re-approval for any changes made to approved sales orders prior to fulfillment. A SO was entered, approved, then changed but did not go back thru the approval process. Why? - correct answer The "Require re-approval"pref is not set A customer has multiple open SO's on file. A customer deposit is applied to the wrong sales order. What process to unlink? - correct answer Change the SO to a cash sale What are 2 considerations for shipping integration - correct answer Tracking numbers assigned on the fulfillment flow back to the SO, and Both FedEx and UPS support use of negotiated rates Which statement is true about enabling the Multi-Location Inventory feature? - correct answer The Enable Multi-Lccation Inventory feature can be enabled anytime after enabling the Inventory Feature An employee reports eight hours of consulting services for 3 days to the same customer. Which 2 invoicing prefs will produce an invoice within 24 hours of time at the billable rate? - correct answer Group Time by Employee, and Combine Time Items on Invoices A company sells yearly service contracts for $1,000 that require 10% initial fee. These are sometimes discounted. They bill at the end of the month. What's the settings - correct answer Initial Amount set to 10%, In Arrears is Enabled, Recurrence count is 12 Revenue Commitment - correct answer Allows recognition of revenue before invoicing VSOE - correct answer Allows auto-allocation of revenue across elements sold in a bundle Revenue Recognition Schedule - correct answer Shows list of Rev Rec JE to be generated Revenue Recognition Template - correct answer Allows definition of % of rev to be recognized up front With credit card integratino enabled, what happens when a standalone cas sale is saved - correct answer Authorize and charge/capture credit card Which statement is true about the default impact of receiving a customer return - correct answer Returned item is added to available inventory What impact does the manager commission sched have on the commissions a manager receives - correct answer Manager schedules calculate commission for Sales Managers based on the sales made by Sales Reps they manage, as well as the sales they make directly which center type is used to grant customers access to "My Account" - correct answer Ecomm Center A company is a big box retailer of kitchen appliances. Each appliance has a unique 13-digit alphanumeric code - correct answer serialized inventory items Best practice for ensuring accurate inventory quantities - correct answer Create an inventory adjustment where each line item represents the item cycle counted and its corresponding difference Which two statements are true about intercompany inventory transactions - correct answer Drop Ship and Special Order are both supported between subsidiaries, AND Pick Pack Ship is an otion for Interco transfers which 3 actions are supported using assembly functionality - correct answer Including Service Items, Serialized, Lot Number Items, and tracking variation in quantities of components