SAGE INTACCT CONSTRUCTION PRACTICE QUESTIONS
AND ANSWERS – LATEST VERSION
Regarding construction implementations, which of the following claims is
accurate? - ANSWER * The accrual basis alone must be the company's
accounting method.You can set up the Construction subscription and the main
financial apps in any sequence when you use the Service Industry QuickStart
template.
Which choices are appropriate for setting up a production environment for a
new client in the construction industry? To provision a production firm, use the
Trusted Practice Solution for CRE image. Alternatively, use the Services
QuickStart template.
Which of the following statements best describes the practice? ANSWER *
Standard tasks should have unique names since Sage Intacct prohibits using the
same name for many jobs in the same project. * Cost types should not be
arranged in a parent-child hierarchical sequence.
* Use the same ID format for all tasks (parent and child tasks) and refrain from
using auto-numbering for the task ID.
Regarding cost categories, which of the following assertions is accurate? -
ANSWER · You give an accumulation type a cost category.
· The cost category denotes the type of cost, such as labor, materials, and so
forth. · A list maintained by the system provides the available cost categories.
Project statuses can be configured to avoid: ANSWER * Invoice generation *
Timesheet entry * Purchasing * Expense entry
Which field in the transaction definition allows you to differentiate between
purchase orders and subcontracts for reporting purposes? Category: ANSWER
Reporting
How do you include projected project contract revenue in financial reports?
ANSWER A project contract can be integrated with multiple GL budgets.
AND ANSWERS – LATEST VERSION
Regarding construction implementations, which of the following claims is
accurate? - ANSWER * The accrual basis alone must be the company's
accounting method.You can set up the Construction subscription and the main
financial apps in any sequence when you use the Service Industry QuickStart
template.
Which choices are appropriate for setting up a production environment for a
new client in the construction industry? To provision a production firm, use the
Trusted Practice Solution for CRE image. Alternatively, use the Services
QuickStart template.
Which of the following statements best describes the practice? ANSWER *
Standard tasks should have unique names since Sage Intacct prohibits using the
same name for many jobs in the same project. * Cost types should not be
arranged in a parent-child hierarchical sequence.
* Use the same ID format for all tasks (parent and child tasks) and refrain from
using auto-numbering for the task ID.
Regarding cost categories, which of the following assertions is accurate? -
ANSWER · You give an accumulation type a cost category.
· The cost category denotes the type of cost, such as labor, materials, and so
forth. · A list maintained by the system provides the available cost categories.
Project statuses can be configured to avoid: ANSWER * Invoice generation *
Timesheet entry * Purchasing * Expense entry
Which field in the transaction definition allows you to differentiate between
purchase orders and subcontracts for reporting purposes? Category: ANSWER
Reporting
How do you include projected project contract revenue in financial reports?
ANSWER A project contract can be integrated with multiple GL budgets.
