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| Section | Weight | Objectives |
|---|---|---|
| Period Close and Reporting | 25% | - Receivables Accounting and Reporting
|
| Configure Receivables | 25% | - Manage Receivables System Options
|
| Manage Customers and Transactions | 25% | - Customer Account Configuration
|
| Process Receipts and Collections | 25% | - Receipt Processing
|
Question 1
If AutoAccounting is set to derive accounting segments based on a standard line, the transaction line must be either ________________ or ________________. Otherwise, AutoAccounting cannot derive a valid account code combination for revenue recognition.
Identify the two values. (Choose two.)
A. a purchasing item
B. an inventory item
C. a credit memo line
D. a standard memo line
E. a debit memo line
Question 2
Which three transaction types are used to generate late charges? (Choose three.)
A. Credit Memo
B. Interest Invoice
C. Cash Receipts
D. Debit Memo
E. Adjustments against the original transaction
Question 3
A customer calls the Accounts Receivables department and asks for the balance of all invoices that are due in the next 30 days. The customer also has a question about a specific invoice line.
As a Billing Specialist, which action would you take?
A. Search for open invoices on the Manage Transaction search page.
B. Search for the information in the Review Customer Account Details user interface.
C. Create an open debit memo.
D. Apply, reverse, or process the receipt.
Question 4
After reviewing an incomplete invoice, the Billing Manager clicks the Complete button in the Transactions window.
What are three results of this action?
A. The invoice can now be printed.
B. The payment schedules are created using the payment terms specified.
C. The invoice is eligible for transfer to the General Ledger.
D. The invoice is sent for a dunning follow-up.
E. The invoice is included in the standard aging and collection process if the transaction type has the Open Receivables option set to No.
Question 5
Which two Collection Preferences can be selected as the default transaction class for the Transaction tab? (Choose two.)
A. Credit Memo
B. Charge Back
C. Guarantee
D. Debit Memo
E. Deposit
Solutions:
| Question 1 Answer: B,D | Question 2 Answer: A,B,E | Question 3 Answer: B | Question 4 Answer: A,B,C | Question 5 Answer: A,D |
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