MB4-535 - SL 7.0 Financials
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How many ledgers can be affected by a single Journal Transactions batch?
What transactions are created in the General Ledger for a vendor invoice for telephone expense when it is released in Voucher and Adjustment Entry? Choose the 2 that apply.
Debit to the Telephone Expense account
Credit to the Vendor AP account
A batch of system checks was printed but the check forms were not placed in the printer. Which AP Check Processing option should be selected so that the checks can be reprinted using the same check numbers?
After Payment Selection has been run, which of the following changes can be made using the Edit/Select Documents for Payment screen? Choose the 3 that apply.
Change the status of a document from "Active" to "Hold".
Change the Payment Amount of a document.
Add or Remove a document from the batch.
Which of the following is the best screen to use to record interest earned on a checking account?
Cash Manager Cash Account Transactions
General Ledger transaction and account history detail is being retained for one year. General Ledger was closed for the year in period 12-2005 and the Delete Detail option was checked. Which of the following functions may still be performed? Choose the 3 that apply.
Print a Trial Balance Report for period 01-2005.
Inquire on account balances for period 06-2005.
Enter a batch to post to period 12-2005.
A system check is printed that requires more than one check form to list all of the vouchers paid. How are the additional check forms that were used listed on the check register?
As Stub Checks
A payment was received from a customer but returned due to Non-Sufficient Funds. The Void payment process was used in Payment Application Inquiry/Reversal but the fee did not show up on the customer account. What would cause this problem? Choose the 2 that apply.
The Charge NSF Fee option was not checked in the Payment Application Inquiry/Reversal screen.
The NSF fee amount is not specified in AR Setup.
What determines the fiscal period for posting a transaction?
Period to Post in the data entry screen
Which ledger do transactions from Accounts Payable update?
Only the ledger in the "Default Ledger ID" field in the GL setup screen
A company has employees set up as Vendors for expense reimbursements. To properly sort the name "Ted Bremer" by "B" rather than "T", how should the name be entered in the Vendor Name field?
A company assesses finance charges on overdue invoices and then sends statements to customers each month. Which processes must be run before the Statements are printed? Choose the 3 that apply.
Apply Finance Charges
Close Statement Cycle
Age Customer Detail (in either the Age Customer Detail screen or the Close Statement Cycle screen)
Which Entry Type does NOT create General Ledger transactions?
The system created entry types that begin with the letter O.
Which of the following batches can be deleted in the Voucher and Adjustment screen? Choose the 2 that apply.
A batch on "Hold" status
A batch on "Balanced" status.
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
What happens when a Customer ID is placed on "Admin Hold"? Choose the 2 that apply.
No new invoices may be entered for the customer.
Payments received from the customer may be entered and applied to invoices.
What is the greatest number of "Budget" type ledgers that can be created in Microsoft Dynamics SL?
How do you correct customer records when a batch of invoices is entered twice and released both times?
Enter credit memos for the customers.
What happens when the "Transaction Description Default" in AR Setup is set to Customer ID and the user types an additional description on a transaction in the Invoice and Memo screen?
The Customer ID appends to the user entered data and the user entered data is truncated if it will not fit in the description field after the Customer ID is added.
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 which periods will transactions update account balances when the Post Transactions process is run? Choose the 2 that apply.
How is the Adjusted Balance in the Bank Reconciliation screen calculated?
Statement balance, plus deposits in transit, minus outstanding checks
Which of the following entry types would be set up as a Receipt? Choose the 2 that apply.
Interest on accounts that debits the bank account and credits Miscellaneous Income.
Sale of an asset that debits the bank account and credits an asset.
Which of the following functions would save data entry time if a user inputs a similar journal entry each month?
Manual or Recurring batch
Which screens can be used for small balance write-offs? Choose the 2 that apply.
Payment Application screen
Small Balance/Credit Write-off screen
The client needs to be able to run reports showing 5 years of Accounts Payable period balance history and 2 years of transaction level history. What settings and/or procedures would you implement for the client to insure that this will happen?
In the AP Setup screen, set the Years to Retain Vendor History = 5 and the Periods to Retain Transactions = 24.
A company wishes to segment their subaccount as follows: 1. Company Segment, 2. Location, 3. Department, 4. Event, 5. Region, 6. Project, 7. Sales Type. How is this accomplished?
Define the Subaccount as seven Segments in Flexkey Definition.
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.
When is a General Ledger account balance updated in the General Ledger module by a batch entered in the Cash Account Transactions screen?
When the Posting process is run in General Ledger
What is the best report to use to verify that FRx financial statements balance to the General Ledger?
When a discount is taken, what account is the discount amount posted to?
The Discount Taken Account defined in the AP Setup screen.
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.
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.
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.
How is an invoice from a vendor entered that has an item for service that is 1099 reportable and two additional line items that are not 1099 reportable?
Enter one voucher with a 1099 box specified for the reportable item and set the 1099 box to >None> for the other two items.
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.
Which of the following addresses prints on a check issued to a vendor?
Remittance Address in Vendor Maintenance
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.
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
How can you select all documents for payment that are due on or before a particular date in addition to all documents for a particular vendor? Choose the 2 that apply.
Run Payment Selection by Pay Date in one batch and by Vendor ID in another batch.
Run the Payment Selection by Pay Date, then run it again by Vendor ID and Un-check "Clear Previous Payment Selections".
When is the "Adjustment" batch type used?
Make a one-sided journal entry
When is the Order Management tab available in the Customer Maintenance screen?
The OM tabs are only available when the Order Management module is installed and set up.
The client wants Microsoft Dynamics SL setup to allow drill-down into expense account detail from within FRx. Which of the following combinations of settings will allow them to do this?
In AP Setup the GL Posting Option = Detail and all account numbers have the Posting Option = Post in Detail in Chart of Accounts Maintenance
Which scenarios would require a new Budget distribution with assigned percentages? Choose the 2 that apply.
Seasonal variations for employee expenses.
Monthly variation for utilities.
Voiding a check using the Void Check Entry screen causes which of the following things to occur in the system? Choose the 2 that apply.
A new "Void Check" document is created and appears on the Check Register report with the original check.
The voucher that was paid by the check is reinstated and can be selected for payment again.
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.
Which modules send data to General Ledger? Choose the 3 that apply.
How many cash accounts can be referenced in each batch in the Cash Account Transactions screen?
Which "Account Types" are recognized by Microsoft Dynamics SL?
Asset, Liability, Income, Expense