Tag: packaged enterprise solutions

Questions Related to packaged enterprise solutions

A receipt of $2,000. is received for an invoice that has $1,500. as the amount due. The remittance advice does not state a reason for the overpayment. Identify the receipt state that should be displayed.

technology packaged enterprise solutions

  1. A. applied

  2. B. unapplied

  3. C. on-account

  4. D. partially applied

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Correct Option: B

A miscellaneous receipt is entered by mistake and posted to GL. What is the best method to reverse the miscellaneous receipt
technology packaged enterprise solutions

  1. A. Carry out the standard reversal of the miscellaneous receipt

  2. B. Carry out the debit memo reversal of the miscellaneous receipt

  3. C. Create receivable activity adjustment for the reversal of the miscellaneous receipt

  4. D. Create a journal entry in general ledger to reverse the accounting impact created by the posting of the miscellaneous receipt.

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Correct Option: A

Customer receives payment with a different currency than on the invoice. What setting will the customer need to make on the system to handle cross currency receipts
technology packaged enterprise solutions

  1. A. Need to set up a quick code

  2. B. Need to set up a system option

  3. C. Need to set up profile option

  4. D. None of the above

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Correct Option: D

Payment for a credit memo in AR is processed through ________
technology packaged enterprise solutions

  1. A. Accounts Receivables

  2. B. Cash Management

  3. C. Accounts Payables

  4. D. Fixed Assets

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Correct Option: C

__________ provides default transaction class, payment term, and printing options for each transaction.
technology packaged enterprise solutions

  1. A. Transaction Class

  2. B. Transaction Type

  3. C. Transaction Sources

  4. D. System Options

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Correct Option: B

Non-invoice related transactions such as investment and interest income are known as _________ in Receivables.
technology packaged enterprise solutions

  1. A. Standard Receipts

  2. B. miscellaneous receipts

  3. C. Cash Receipts

  4. D. Interest Receipts

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Correct Option: B

If a promise to pay is not fulfilled and no payment is made, then the promise status changes to ______
technology packaged enterprise solutions

  1. A. Broken

  2. B. Collectible

  3. C. No

  4. D. Not Collectible

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Correct Option: A

Which statement is true about the "Order to Cash" lifecycle?
technology packaged enterprise solutions

  1. A. Posting receipts is part of the Cash Management process.

  2. B. The pricing engine supplies the initial unit price from the item price listed in the Inventory Organization.

  3. C. When you book an order, the information is transferred through AutoInvoice to Receivables for invoicing the customer.

  4. D. During AutoInvoice, when the data is brought into the Interface tables, errors are moved to the Interface Exceptions table to be corrected.

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Correct Option: D

When you run the Create Accounting program in draft mode, you can _____
technology packaged enterprise solutions

  1. A. post entries

  2. B. create entries

  3. C. reserve funds

  4. D. transfer entries

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Correct Option: B

The three steps in Auto Lockbox in sequence are
technology packaged enterprise solutions

  1. A. Validation, Import, Post QuickCash

  2. B. Import, Validation, Post QuickCash

  3. C. Post QuickCash, Import, Validation

  4. D. Any of the above

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Correct Option: B