MB4-873 - Microsoft Dynamics SL 2011 Financials
Go back to Microsoft
At year end, you want to delete certain inactive customers. Which customers will you be able to delete?
Customers who have a zero balance and no activity since the date entered in the Delete AR Detail screen, and whose transaction records meet theretention periods specified in AR Setup.
You determine that a group of invoices was entered twice and released both times. What should you do to correct the situation?
Enter credit memos for the customers affected by the duplicate batch.
When you enter an Accounts Receivable payment in Cash Manager, which of the following accounts is credited?
the AR Holding account specified in CA Setup
At month-end, you are working on the bank reconciliation and find that there are items on your bank statement that are missing from the Cash Manager Bank Reconciliation list of checks or deposits. Which of the following may explain why? Choose the 2 that apply.
Deposits were entered with a transaction date that is later than the current reconciliation date.
Manual checks were issued and cleared by the bank, but were not entered into Microsoft Dynamics SL.
You need to enter quarterly invoices for a customer using Recurring Invoices that will recur for the next two years. Which of the following values for Cycle and Number of Cycles should you set up to accomplish this? Choose the 2 that apply.
Cycle = 3
Number of Cycles = 8
You create a new budget. Which of the following scenarios would be appropriate for you to use the Percentage Budget Distribution method for? Choose the 2 that apply.
monthly variation for utilities
seasonal variations for employee expenses
A vendor has issued a credit for merchandise you returned. How should you enter the credit into the system?
Enter it in Accounts Payable Voucher and Adjustment Entry as a Debit Adjustment Type with a positive amount.
You created and posted a General Ledger batch to period 03-2011 and it should have been posted to period 02-2011. Which of the following should you do to correct the situation? Choose the 2 that apply.
Enter an auto-reversing batch with the same debits and credits as the original batch and post it to Period 02-2011.
Use the Reverse and Correct option in Journal Transactions and change the Period on the correcting batch to 02-2011.
Which of the following are valid Balance Types in Ledger Maintenance? Choose the 2 that apply.
Which fields are required when you create a budget in Budget Maintenance? Choose the 2 that apply.
When you create a voucher in Accounts Payable Voucher & Adjustment Entry, which date is used to calculate the Discount Date?
Which of the following batches can you delete in the Voucher and Adjustment Entry screen? Choose the 2 that apply.
Batches with a Balanced status
Batches with a Hold status
Which of the following tasks can be completed in the General Ledger Closing screen? Choose the 2 that apply.
Close specific modules for the period or year.
Delete detail for one or more modules.
At month-end when you delete Accounts Payable detail transactions and history, which of the following screens does the system refer to document retention settings to determine the information that is deleted?
You want to track the number of employees associated with each payroll expense account. Which ledger type should you create?
You want to enter a credit to a customer for services performed. How should you enter this credit?
In AR Invoice & Memo, enter a Credit Memo Type with a positive amount.
The checkbox to Update Cash Accounts used in GL Transactions in the Cash Manager Setup screen is selected. You note that transactions you entered in General Ledger appeared only in General Ledger and did not update Cash Manager. Which of the following could be the reason for this?
The checkbox to Accept Updates from GL Transactions is cleared for the cash account used in the transaction.
You enter a Cash Account Transactions batch in the Cash Manager module. When is the General Ledger account balance that you used in the batch updated?
when you post the batch in General Ledger
You create a new vendor named The Phone Company in Microsoft Dynamics SL Vendor Maintenance. Which of the following will sort the vendor name "The Phone Company" by "P" rather than "T"?
The @Phone Company
When the Receipt/Disbursement option in Entry Type Maintenance is set to Receipt, this indicates a receipt to which account?
the Bank/Cash Account used in the Cash Account Transaction screen
How is Cash Flow Frequency determined when you run the Cash Flow Projection report?
Cash Flow Frequency is determined as an option you select from a list of possible values when you run the Cash Flow Projection report.
A vendor invoice was entered and the batch released, but the 1099 box was incorrectly left with a value of one? Which of the following can you do to correct the 1099 totals that display in Vendor Maintenance and on the 1099 report that you print at year end?
Edit Vendor Maintenance, 1099 Info tab in Initialize Mode to correct the 1099 balance for the appropriate 1099 box.
You must enter an invoice for a vendor where one line is 1099 reportable and the two other lines are not 1099 reportable. You have set the Default 1099 Box Number value in Vendor Maintenance to the correct 1099 value. What should you do in Microsoft Dynamics SL so that the 1099 status on each line is reported correctly?
Enter one voucher with one line where the 1099 Box specifies the value for the reportable item. Add the other two lines to the same voucher, with the 1099 Box value set to "None".
Which of the following are valid Budget Distribution Methods in Budget Maintenance? Choose the 2 that apply.
Budget B. Equally C. Manually D. Next 12
At the end of each month, you assess finance charges on past-due invoices and then send statements to your customers. Which processes must you run before you print the statements? Choose the 2 that apply.
Age Customer Detail and Close Statement Cycle
Apply Finance Charges
You are in the Payment Selection screen. You enter a Check Printing Date of 5/11/2011, and a Next Check Printing Date of 5/18/2011. The Payment Selection option is set to Pay Date. Which of the following vouchers will the system select for payment?
a voucher with a pay date of 5/15/2011 and a due date of 5/20/2011
Assuming a customer has past due charges, what steps should you take to ensure that a finance charge is assessed? Choose the 2 that apply.
Specify a finance charge percentage in AR Setup.
Set up the Customer Maintenance record to apply finance charges.
What is the purpose of Cash Flow Items? Choose the 2 that apply.
Provide a method to enter potential cash flow items that are used to create "what-if" scenarios for cash flow projections.
Provide a method to enter potential cash flow items for reporting purposes.
When does the system update an account balance in Cash Manager?
when you release a batch in General Ledger, Accounts Receivable, Accounts Payable, or Cash Manager
When you create a Journal Transaction in General Ledger, what determines the fiscal period the batch will post to?
the value in the Period field in the Journal Transaction screen
Which of the following are necessary to be able to send invoices via Quick Send? Choose the 2 that apply.
AR Customer Maintenance, Quick Send tab must have Document Type "AR Invoice/Memo" selected and the Quick Send checkbox selected.
Quick Send Setup in Shared Information must have the Document Type "AR Invoice/Memo" selected.
Once a year, you run the Delete AR Detail process to remove detail and history. Which of the following are deleted by this process?
Document and transaction detail for customer invoices, credit memos, debit memos and customer payments that have zero balances, based on theretention periods specified in AR Setup.
Which of the following batch statuses are available to be released in the Release AR Batches screen? Choose the 2 that apply.
You need to use a Basis Account number in Allocation Group Maintenance to calculate an allocation, but the Basis Account field is disabled. Why would the Basis Account field be disabled? Choose the 2 that apply.
The Use Basis Accounts checkbox is cleared.
The Allocation method is set to Percent or Unit Ratio.
When you print reports at month-end, which report should you use to verify that Management Reporter financial statements balance to the General Ledger?
GL Trial Balance
The 1099 Calendar Year Control screen is used for which of the following purposes? Choose the 2 that apply.
to change the status of the 1099 Calendar Years in Accounts Payable
to purge all 1099 data for the oldest year displayed in Accounts Payable and add a new year
You have entered a pre-payment for a customer. Which screen can you use to apply that pre- payment to specific customer documents?
What is the maximum number of accounts you can use in Cash Manager?
A payment for customer Trey Research was entered to customer Adventure Works by mistake and applied to an Adventure Works invoice for the same amount. What steps should you take to correct this situation?
Use the Application Inquiry/Reversal screen to reclassify the payment from Adventure Works to Trey Research.
Which of the following can update a Cash Manager bank account balance? Choose the 2 that apply.
Cash receipts entered through the Accounts Receivable module.
Checks issued from the Accounts Payable module.
What is the maximum character length of the Name field in Accounts Receivable Customer Maintenance?
You want the description from Accounts Payable transactions that transfer to GL to include the Vendor ID when posting in detail. What should you configure in the Transaction Description value in AP Setup to automatically accomplish this? Choose the 2 that apply.
Combination Name and ID
You attempt to select a voucher for payment using Payment Selection, but the voucher does not appear in the list of selected documents. You can see that the voucher is still open, is unpaid, and is not on hold. Which of the following reasons may be preventing you from selecting the voucher for payment? Choose the 2 that apply.
The voucher is linked to an unpaid Accounts Receivable invoice.
The voucher is already in an existing Payment Selection batch.
After you run the Payment Selection process to create a payment selection batch, which of the following can you do using the Edit/Select Documents for Payment screen? Choose the 2 that apply.
Add or remove a document from the batch.
Change the payment amount of a document.
Which of the following happens when the status on a Customer record in Customer Maintenance is changed to Admin Hold?
The customer ID is hidden when you press F3 on the Customer ID field in Accounts Receivable Invoice & Memo.
Which of the following document types display in the grid area of the Payment Application screen so you can apply payments to them? Choose the 2 that apply.
Which of the following criteria must be met so you can issue a manual check? Choose the 2 that apply.
The voucher you are paying must be entered in the system already
The voucher you are trying to pay with a manual check cannot be in an existing payment selection batch already.
You want to create an allocation for taxes and move transactions out of account 5020 into different accounts, based on the percentage of salary. In which field in the Allocation Group Maintenance screen would you enter account 5020?
Source - Account
You are creating new customer records in Accounts Receivable and would like to produce reports for customers by different categories, such as Wholesale, Retail, or Distributors. Which of the following screens can you use to accomplish this?
You want to create a new Entry Type to record Receipts of cash. Which of the following transactions would use an Entry Type setup with a Receipt/Disbursement value of Receipt? Choose the 2 that apply.
recording interest on accounts that debit the bank account and credits the Miscellaneous Income account
recording sale of an asset that debits the bank account and credits an asset account