MB4-218 - Solomon 6.0 Project Management and Accounting

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Example Questions

The difference between Post Date and Estimated Post Date in a Billing Schedule means that during Scheduled Billing Release? Posting an Expense Report will result in the following? In an Allocation Method Step, what is the difference between Calculate and Post and Subtotal and Post? What wildcard is available for Revenue Recognition General Ledger subaccount postings? How does the Pay Labor Interface post when interfaced to an External File? Revenue posting GL accounts used in the Revenue Recognition process can be defined at which levels? Which of the following values are set up in Code Files? In which of the following scenarios would it be appropriate to create a new Code Type? What is the most common usage of Password Maintenance? What does "Recap" in Invoice Format Maintenance refer to? Select all that applies for the purpose of the Transaction Date in Allocation Processor? What will result if the option to Require Use of Time Detail Screen is selected in Time & Expense Setup? What are the type of entries are made for Billing and Revenue Schedule released entries? Invoice Reversal & Duplication can duplicate an invoice from month to month. What other process can generate a fixed billing amount each month? What wildcards can be used in the debit and credit subaccount fields of each step in an Allocation Method? What are the rules for Billing Transaction Load? A schedule (Billing or Revenue) can have additional periodic line items added automatically by what periodical basis? What field for selection is the most common field to define in Flexible Report Column Maintenance? How does the Pay Labor Interface post when interfaced to Solomon Payroll? What approval routing options are possible when an Expense report status is changed from n Process?to ompleted? How is a Project pre-defined user ID Field activated? A project is set up with a Revenue Recognition type of Completed Contract. Assuming the project is 75% complete, the postings generated during the Revenue Recognition process will be: What is the primary function of the Default or System Task? The Revenue Recognition process is run in Final mode on May 25. On May 31, the Revenue Recognition process is run again before month end closing. If a project was 80% complete on May 25 and due to additional reclassification expenses posted to the project it is now 75% completed, what postings will be made by Revenue Recognition? Budgets are entered at what level of a project? Which of the following wildcards can be used in Billing Rules? Which of the following best describe how Project Charge Entry batches post when they are released? How many different rate tables can be assigned to a project? An Allocation Method can perform which of the following calculations? Which of the following is true about the way Revenue Recognition general ledger postings may be configured? Project Series requires what option for Multi-Company processing? Which of the following system-defined code types used in Timecards for Projects is required under all circumstances? How can an employee be deleted? A consulting firm has 15 employees, who record their time on a daily basis, with lengthy notes about what work was completed. These notes should print on customer invoices. What is the best option for time entry? How many different Allocation Methods can be assigned to a project? In which fields can wildcards be used in an Allocation Method? Billed-to-Date and Contract Value Account Categories are generally of which type? What is the Use Bill Amount checkbox in the Billing Rule used for? When is Invoice Review & Approval required? A salaried non-exempt employee works 50 hours in a week, 40 hours are regular hours and 10 hours are overtime. This employee's salary is $1,000 per week and $25 per hour. Assuming the employee worked on the same project all week, what is the cost to the project? What is the difference between the Daily and Weekly option for Labor Transactions and Invoice Comments? Which is true about Billing Transaction Load? Which status will invoices generated by the Automatic Invoice creation process have? If an Allocation Method Step is created to calculate billing rates and the billing rates are the same for all projects for a specific customer, the key(s) defined in the rate hierarchy would be? How is the invoice date in Invoice Print used? In the Week Maintenance screen, what is Salary Factor used to do? At what level(s) are Project Budgets and EACs created? What does the Section Type in Invoice Format Maintenance define? Assuming, option to Cost Labor on Entry radio button is selected, and when using the Timecard or Timesheet with Rate/Amount Entry screens, rates and labor cost amounts are displayed when the following entry type is used? How can an incorrect Timecard be corrected?