MB4-217 - Microsoft Business Solutions - Solomon 6.0 Financials

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Example Questions

Which ledger type is used to track the number of employees associated with each payroll expense account? When a batch of payments is released, which Cash Account is used in the transactions created for the General Ledger? Which of the following modules integrates with the Accounts Receivable module either by sending information to AR or receiving information from AR? When do Cash Flow items entered in the Cash Flow Item Maintenance screen update actual Cash Manager and General Ledger account balances? The controller has decided that the subaccount will have 2 segments -- activity and location. Each segment has specific values and they want to prevent the use of invalid combinations of the segment codes during maintenance and data entry. All accounts are valid with all subaccounts. Which screens need to be used to define the subaccount information? Which Entry Type does NOT create General Ledger transactions? Which procedure can be used to enter a voucher for an invoice and record a Manual Check that was hand written? 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? When a discount is taken, what account is the discount amount posted to? 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 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 purpose of the Customer Class field? What is the importance of the transaction date field in the Cash Account Transactions screen? The Cash Account Transfers screen includes a Source account and a Destination account. What does the Destination account signify? 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? 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? 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? If payments from customers are to be matched to specific customer invoices, which process should not be run? Which "Account Types" are recognized by Solomon? How often can the Bank Reconciliation process be performed? What are the correct settings for the Fiscal Year and Calendar Year options in GL Setup for a company when the current fiscal year is 2004 and the fiscal year began on July 1, 2003? Which document type entered in the Invoice and Memo screen does NOT leave an open balance when released? A voucher was entered and released for the wrong vendor. To correct the problem, a Credit Adjustment was entered for the vendor. What should be done to correct the problem? How is a Credit Memo received for merchandise returned to a vendor entered in the system? Which fiscal periods can be entered as the Period to Post in the Journal transactions screen? 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? When is the "Accept Updates from GL Transactions" option not available for a particular account in the Cash Account Maintenance screen? What transactions are created in the General Ledger for a vendor invoice for telephone expense when it is released in Voucher and Adjustment Entry? Which is the greatest number of "Budget" type ledgers can you create in Solomon? Which modules send data to General Ledger? The option to Accept Updates from General Ledger Transactions in the Cash Manager Setup screen is checked, but transactions entered in General Ledger are not updating Cash Manager. Which of the following could be the cause? What happens when a Customer ID is placed on "Admin Hold"? Which types of transactions can be entered in the Daily Cash Balances screen? What must happen in order to activate the "Balance Write-Off" button in Payment Application? What happens if the Generate Consolidation process is executed more than one time for a given fiscal period? What happens when the Generate Consolidation File process is executed? Where are Account Classes defined? 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? Which situation below would allow the Manual Check screen to be used to issue a check? When is the Order Management tab available in the Customer Maintenance screen? When is the "Adjustment" batch type used? What happens when a batch of Cash Account Transactions that contains payments that update Accounts Receivable is released in Cash Manager? How do you change the Default Ledger ID specified in the GL Setup screen? A company assesses finance charges on over due invoices and then sends statements to customers each month. Which processes must be run before the Statements are printed? Voiding a check using the Void Check Entry screen causes which of the following things to occur in the system? When is a Cash Manager account balance updated in the Cash Manager module? Which are proper procedures to correct a transaction batch that was released and posted to period 07-2005 instead of 08-2005? Which ledger do transactions from the Accounts Payable module update? A voucher was entered on 12/15/2003 with an amount coded to a 1099 box. The check that paid this voucher was dated 1/10/2004. Which describes how the 1099 box amount is updated? 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?