Sage Intacct Implementation Exam Questions and Correct Answers 2024

Sage Intacct Implementation Exam Questions and Correct Answers 2024 ME-001: Intercompany transactions Requirement: Requirement: System should automatically record an intercompany due to/due from transaction when one entity pays a bill that belongs to another entity. 1. Solution type a. Standard functionality b. Workaround c. Marketplace solution - ANSWERS a. Standard functionality ME-001: Intercompany transactions Requirement: System should automatically record an intercompany due to/due from transaction when one entity pays a bill that belongs to another entity. Where solution is found in Sage Intacct (if applicable) - ANSWERS Company > Setup > Configuration > Entities ME-001: Intercompany transactions Requirement: System should automatically record an intercompany due to/due from transaction when one entity pays a bill that belongs to another entity. Solution Description - ANSWERS The journal entry is automatically created based on the settings defined on the Inter-entity Setup page. Related permissions: Company > Entities: List, View, Add, Edit, Delete ME-002: User access Requirement: System should support restricting users to viewing and entering data in specific entities. Solution type a. Standard functionality b. Workaround c. Marketplace solution - ANSWERS Standard functionality ME-002: User access Requirement: System should support restricting users to viewing and entering data in specific entities. Where solution is found in Sage Intacct (if applicable) - ANSWERS Company > Admin > Users, roles & groups > Users ME-002: User access Requirement: System should support restricting users to viewing and entering data in specific entities. Solution Description - ANSWERS On the User Entity tab, users can be restricted to only access and record data for specific entities. Related permissions: Administrative Permissions > Users: List, View, Add, Edit, Delete, Permissions GL-001: Accounts Requirements: System should allow specific users to create, edit, and delete General Ledger accounts. Solution type a. Standard functionality b. Workaround c. Marketplace solution - ANSWERS a. Standard functionali GL-001: Accounts Requirements: System should allow specific users to create, edit, and delete General Ledger accounts. Where solution is found in Sage Intacct (if applicable) - ANSWERS General Ledger > All > Accounts > General Ledger Accounts GL-001: Accounts Requirements: System should allow specific users to create, edit, and delete General Ledger accounts. Solution Description - ANSWERS No configuration needed. Related permissions: Journal Entries: Reverse GL-002: Accounts Requirement: System should support recording non-monetary numeric transactions, such as employee headcount and square footage. Solution type a. Standard functionality b. Workaround c. Marketplace solution - ANSWERS Standard functionality GL-002: Accounts Requirement: System should support recording non-monetary numeric transactions, such as employee headcount and square footage. Where solution is found in Sage Intacct (if applicable) - ANSWERS General Ledger > All > Accounts > Statistical accounts GL-002: Accounts Requirement: System should support recording non-monetary numeric transactions, such as employee headcount and square footage. Solution Description - ANSWERS No configuration needed. Related permissions: Statistical Journal Entries: List, View, Add, Edit, Delete, Reverse GL-003: Journal entries Requirement: System should display a warning if the user tries to post a journal entry with a date in a future period. Solution type a. Standard functionality b. Workaround c. Marketplace solution - ANSWERS a. Standard functionality GL-003: Journal entries Requirement: System should display a warning if the user tries to post a journal entry with a date in a future period. Where solution is found in Sage Intacct (if applicable) - ANSWERS Set the option If future GL posting date to Allow and warn. Related permissions: Administrative Permissions > Application Subscriptions: Configure GL-003: Journal entries Requirement: System should display a warning if the user tries to post a journal entry with a date in a future period. Solution Description - ANSWERS General Ledger Configuration GL-004: Journal entries Requirement: System should support reversing journal entries Solution type a. Standard functionality b. Workaround c. Marketplace solution - ANSWERS a. Standard functionality GL-004: Journal entries Requirement: System should support reversing journal entries Where solution is found in Sage Intacct (if applicable) - ANSWERS On the journal entry or journal entry list, select Reverse. GL-004: Journal entries Requirement: System should support reversing journal entries Solution Description - ANSWERS No configuration needed. Permissions needed: Journal Entries: Reverse GL-005: Journal entries Requirement:System should support recurring journal entries. a. Standard functionality b. Workaround c. Marketplace solution - ANSWERS a. Standard functionality