MB4-534 - SL 7.0 Installation and Configuration
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What is the greatest number of "Budget" type ledgers that can be created in Microsoft Dynamics SL?
Electronic Document Delivery can send which of the following Accounts Receivable documents by email or fax?
A Payment for customer "Trey Research" was entered for "Adventure Works" by mistake and applied to an invoice for the same amount. How should you correct this situation?
Use Payment Application Inquiry/Reversal to "Reclassify" the payment from Trey Research to Adventure Works.
What is the criteria for entering documents from various vendors in one batch in the Voucher and Adjustment screen?
All documents must post to the same fiscal period.
Which Ledger ID is the default in the Journal Transaction screen?
The "Default Ledger ID" defined in GL Setup.
Which of the following functions would save data entry time if a user inputs a similar journal entry each month?
Manual or Recurring batch
When should the "Correct Customer Balances to Total Doc Balance" and the "Rebuild Accounts Receivable History from Documents" processes in the Accounts Receivable Integrity Check screen be used?
Only if the three "Verify" processes in the screen have been run and errors are found.
When are the Aging Balances in Customer Maintenance updated? Choose the 2 that apply.
When the Close Statement Cycle process is run and the Age AR Before Closing box is checked.
When the Age Customer Detail process is run.
In which screen are Accounts Receivable prepayments applied to specific customer documents?
The option "Edit only in Init Mode" is checked in GL Setup. How do you edit a General Ledger batch that is "Released" but not "Posted"?
Use Initialize Mode to edit the batch.
Which of the following functions can be accomplished in the General Ledger Closing screen? Choose the 3 that apply.
Close particular modules or all modules for the Period.
Close particular modules or all modules for the Year.
Delete detail for one or more modules.
What is the best report to use to verify that FRx financial statements balance to the General Ledger?
Which of the following could update a Cash Manager Bank Account? Choose the 3 that apply.
Transactions posted to cash accounts through the General Ledger
Checks issued from Accounts Payable
Cash receipts entered through Accounts Receivable
Which Entry Type is reserved by the system to record the offsetting entry to cash?
Which procedure can be used to enter a voucher for an invoice and record a Manual Check that was hand written? Choose the 2 that apply.
Voucher and Adjustment Entry then the Manual Check Entry
Voucher and Adjustment and use the Manual Check Tab to reference the check number that was written.
A client implementing Accounts Receivable has customers that are considered Retail and others that are Wholesale. Which of the following would allow customers to be grouped by these categories for reporting purposes?
Which of the following are requirements to delete a Vendor? Choose the 3 that apply.
All documents for the vendor must be paid
All Purchase Orders for the vendor must be closed
All closed documents for the vendor have exceeded the detail retention criteria.
If payments from customers are to be matched to specific customer invoices, which process should not be run?
Auto Payment Application
What is the maximum length of Name and Address fields in Account Receivable Customer Maintenance?
Which procedures are required to correct a voucher that was entered and released for the wrong vendor. Choose the 2 that apply.
Enter a new Voucher for the "correct" vendor.
Enter a Debit Adjustment for the "incorrect" vendor.
In Flexkey Definition, the "Validate" option for each segment is not checked and the "Valid Combos Required" option is not checked. Which will occur during maintenance and data entry? Choose the 2 that apply.
When setting up new subaccounts, any value may be entered for any segment.
All subaccounts entered during data entry will be accepted and automatically created in Subaccount Maintenance.
When a batch of payments is released, which Cash Account is used in the transactions created for the General Ledger?
The Cash Account specified in the batch when the payments are entered.
An invoice is received from vendor Trey Research for information and research services they provided. Which screens can be used to enter the vendor invoice? Choose the 2 that apply.
Voucher and Adjustment Entry
Quick Voucher and Prepayment Entry
When the Receipt/Disbursement Flag in the Entry Type Maintenance screen is set to Receipt, this indicates a Receipt to which account?
Bank/Cash Account used in the Cash Account Transactions screen.
A voucher was entered on December 15, 2006 with an amount coded to a 1099 box. The check that paid this voucher was dated January 10, 2007. Which describes how the 1099 box amount is updated?
The 1099 box is updated for year 2007.
A customer was defined in the Customer Maintenance screen with the ID "ADVWRK" and name "Adventure Works". At least one invoice has been entered for the customer. Which of the following cannot be changed in Customer Maintenance?
Which Entry Type does NOT create General Ledger transactions?
The system created entry types that begin with the letter O.
Which of the following document types display in the "grid" area of the Payment Application screen making them available to have payments applied to them? Choose the 2 that apply.
Which ledger do transactions from Accounts Payable update?
Only the ledger in the "Default Ledger ID" field in the GL setup screen
An invoice was entered and released for customer Adventure Works for $800.00. The invoice should have been for only $600.00. How should you correct this situation?
Enter a Credit Memo for $200.00.
Which situation below would allow the Manual Check screen to be used to issue a check? Choose the 2 that apply.
The voucher to be paid must already be entered in the system.
The voucher to be paid cannot be in a payment selection batch.
How is the Adjusted Balance in the Bank Reconciliation screen calculated?
Statement balance, plus deposits in transit, minus outstanding checks
A batch was posted to period 03-2007 and should have been posted to period 02-2007. Which steps are required to correct the situation? Choose the 2 that apply.
Enter a batch with the opposite debits and credits and post it to period 03-2007.
Enter a batch with the same debits and credits as the original and post it to period 02-2007.
How do you correct customer records when a batch of invoices is entered twice and released both times?
Enter credit memos for the customers.
A company wishes to enter payments and match them up directly with the invoices with which they are associated. Which of the following screens allows this capability?
In which periods will transactions update account balances when the Post Transactions process is run? Choose the 2 that apply.
How much is the batch total for a batch entered in Voucher and Adjustment Entry that contains a voucher for $10, a Debit Adjustment for $5 and a Credit Adjustment for $2?
Which document type entered in the Invoice and Memo screen does NOT leave an open balance when released?
Which ledger type is used to track the number of employees associated with each payroll expense account?
When do Cash Flow items entered in the Cash Flow Item Maintenance screen update actual Cash Manager and General Ledger account balances?
They never update actual balances
When is the "Adjustment" batch type used?
Make a one-sided journal entry
A company purchased new office furniture and needs to pay a deposit of $1000. The invoice has not yet been received from the vendor. For audit trail purposes, the controller would like the entry posted to an account for Deposits. Which screen can be used to do this and print the check?
Quick Voucher and Prepayment
What is the maximum number of Cash accounts that can be tracked in Cash Manager?
What are Cash Flow items used for? Choose the 2 that apply.
Allow entry of potential cash items for reporting purposes.
Allow entry of potential cash items that are used to create "what-if" scenarios for cash flow reporting.
When the import process is run a second time using the same Import Reference Number what happens to the items previously imported?
The old records are removed by the system and the records in the file are re-loaded.
When is a Cash Manager account balance updated in the Cash Manager module?
When a batch from GL, AP, AR or CA is Released
Which fiscal periods can be entered as the Period to Post in the Journal transactions screen? Choose the 3 that apply.
Any Future Period
Any period in the current fiscal year
Any prior period as far back as the General Ledger history retention settings.
Which Allocation Method is used to allocate office supplies posted to an administrative account to each department based on the amount of office supply expense in each departmental subaccount?
What is the Vendor Class used for? Choose the 3 that apply.
Vendor Class can be used to sort and select data on some reports.
Vendor Class is used to default values when setting up Vendors.
Vendor Class can be used to categorize types of vendors such as Trade or Employee.
When Cash Manager is implemented on an existing Solomon system which has been using the Accounts Receivable module, which payments will automatically be brought over by the Integrity Check process to the Cash Manager Module from Accounts Receivable?
All payments that have a transaction date greater than or equal to the "Accept Transactions Start Date" entered in the Cash Manager Setup screen