Sage Intacct Implementation Exam With 100%
Correct 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? -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
Correct 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? -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
