Sage Intacct Implementer Exam Practice
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You try to add a transaction for the express bank credit card, but that credit card does not
show in the drop-down menu. What could cause this?
a. credit card expiration date is in the past
b. you do not have permission to that credit card
c. the credit card needs a vendor assigned. - ✔✔✔A - credit card expiration date is in
the past.
Note:
- expired credit cards cannot be used in transactions.
- permissions cannot be assigned to individual credit cards
- credit cards must have a vendor, but the vendor is selected when the credit card is set
up (would not cause this issue).
True or False: Each bank account must have a unique General Ledger Account. - ✔✔✔True
- one GL account per bank account.
You create a new bank account that needs to be available to 3 of your 4 entities. How can
you do this?
a. on the bank account restrictions tab, restrict to top level only.
, b. on the bank account restrictions tab, select the locations/entities where you want to use the
account.
c. on the entities, assign the bank accounts.
d. on the Multi-entity management configuration, assign the bank accounts. - ✔✔✔B -
on the bank account restrictions tab, select the locations/entities where you want to use the
account. If you do not see the restrictions tab, go to Multi-Entity Mgmt configuration and
enable restrictions for checking accounts and saving accounts.
How do you record a bill and payment outside the normal AP process?
a. manual payment
b. adjustment > credit memo
c. adjustment > debit memo
d. advance - ✔✔✔A. Manual Payment
You run the Vendor Aging report, and the amount on the report does not match the balance
in the AP GL account. What could cause this? (select all that apply).
a. a general ledger entry was posted that affected the Accounts Payable GL account
b. credit card entries are including on the vendor aging report
c. the aging periods have overlapping day ranges
d. the reports were run for different time periods - ✔✔✔A, B, C, &D.
You paid a bill for a vendor. Due to a dispute, the vendor later agrees to decrease the amount
you owe. How do you record this transaction?
a. manual payment
b. adjustment > credit memo
c. adjustment > debit memo
Questions Answers Latest and Verified
100% Correct
You try to add a transaction for the express bank credit card, but that credit card does not
show in the drop-down menu. What could cause this?
a. credit card expiration date is in the past
b. you do not have permission to that credit card
c. the credit card needs a vendor assigned. - ✔✔✔A - credit card expiration date is in
the past.
Note:
- expired credit cards cannot be used in transactions.
- permissions cannot be assigned to individual credit cards
- credit cards must have a vendor, but the vendor is selected when the credit card is set
up (would not cause this issue).
True or False: Each bank account must have a unique General Ledger Account. - ✔✔✔True
- one GL account per bank account.
You create a new bank account that needs to be available to 3 of your 4 entities. How can
you do this?
a. on the bank account restrictions tab, restrict to top level only.
, b. on the bank account restrictions tab, select the locations/entities where you want to use the
account.
c. on the entities, assign the bank accounts.
d. on the Multi-entity management configuration, assign the bank accounts. - ✔✔✔B -
on the bank account restrictions tab, select the locations/entities where you want to use the
account. If you do not see the restrictions tab, go to Multi-Entity Mgmt configuration and
enable restrictions for checking accounts and saving accounts.
How do you record a bill and payment outside the normal AP process?
a. manual payment
b. adjustment > credit memo
c. adjustment > debit memo
d. advance - ✔✔✔A. Manual Payment
You run the Vendor Aging report, and the amount on the report does not match the balance
in the AP GL account. What could cause this? (select all that apply).
a. a general ledger entry was posted that affected the Accounts Payable GL account
b. credit card entries are including on the vendor aging report
c. the aging periods have overlapping day ranges
d. the reports were run for different time periods - ✔✔✔A, B, C, &D.
You paid a bill for a vendor. Due to a dispute, the vendor later agrees to decrease the amount
you owe. How do you record this transaction?
a. manual payment
b. adjustment > credit memo
c. adjustment > debit memo
