NETSUITE ERP CONSULTANT 2026 FINANCIAL
MANAGEMENT PRACTICE SET ANSWERS FULL
SOLUTION
◉ A company sells yearly service contracts for $1,000 that require
10% initial fee. These are sometimes discounted. They bill at the end
of the month. What's the settings
Answer: Initial Amount set to 10%, In Arrears is Enabled,
Recurrence count is 12
◉ Revenue Commitment
Answer: Allows recognition of revenue before invoicing
◉ VSOE
Answer: Allows auto-allocation of revenue across elements sold in a
bundle
◉ Revenue Recognition Schedule
Answer: Shows list of Rev Rec JE to be generated
◉ Revenue Recognition Template
Answer: Allows definition of % of rev to be recognized up front
,◉ With credit card integratino enabled, what happens when a
standalone cas sale is saved
Answer: Authorize and charge/capture credit card
◉ Which statement is true about the default impact of receiving a
customer return
Answer: Returned item is added to available inventory
◉ What impact does the manager commission sched have on the
commissions a manager receives
Answer: Manager schedules calculate commission for Sales
Managers based on the sales made by Sales Reps they manage, as
well as the sales they make directly
◉ which center type is used to grant customers access to "My
Account"
Answer: Ecomm Center
◉ A company is a big box retailer of kitchen appliances. Each
appliance has a unique 13-digit alphanumeric code
Answer: serialized inventory items
◉ Best practice for ensuring accurate inventory quantities
, Answer: Create an inventory adjustment where each line item
represents the item cycle counted and its corresponding difference
◉ Which two statements are true about intercompany inventory
transactions
Answer: Drop Ship and Special Order are both supported between
subsidiaries, AND Pick Pack Ship is an otion for Interco transfers
◉ which 3 actions are supported using assembly functionality
Answer: Including Service Items, Serialized, Lot Number Items, and
tracking variation in quantities of components
◉ which 3 statements are trure about landed cost setup features
Answer: 1. Multiple Landed Cost Categories can be applied to an
Item receipt, 2. Landed Cost can be allocated by Weight, Cost,
Quantiy, or manual, 3. Both the Inventory Item and the Landed Cost
item must be marked Landed Cost = TRUE
◉ Landed Cost can be by
Answer: Weight, Cost, Quantity, or manual
◉ Pricing applied according to the quantity included in the line item
Answer: by Line Quantity
MANAGEMENT PRACTICE SET ANSWERS FULL
SOLUTION
◉ A company sells yearly service contracts for $1,000 that require
10% initial fee. These are sometimes discounted. They bill at the end
of the month. What's the settings
Answer: Initial Amount set to 10%, In Arrears is Enabled,
Recurrence count is 12
◉ Revenue Commitment
Answer: Allows recognition of revenue before invoicing
◉ VSOE
Answer: Allows auto-allocation of revenue across elements sold in a
bundle
◉ Revenue Recognition Schedule
Answer: Shows list of Rev Rec JE to be generated
◉ Revenue Recognition Template
Answer: Allows definition of % of rev to be recognized up front
,◉ With credit card integratino enabled, what happens when a
standalone cas sale is saved
Answer: Authorize and charge/capture credit card
◉ Which statement is true about the default impact of receiving a
customer return
Answer: Returned item is added to available inventory
◉ What impact does the manager commission sched have on the
commissions a manager receives
Answer: Manager schedules calculate commission for Sales
Managers based on the sales made by Sales Reps they manage, as
well as the sales they make directly
◉ which center type is used to grant customers access to "My
Account"
Answer: Ecomm Center
◉ A company is a big box retailer of kitchen appliances. Each
appliance has a unique 13-digit alphanumeric code
Answer: serialized inventory items
◉ Best practice for ensuring accurate inventory quantities
, Answer: Create an inventory adjustment where each line item
represents the item cycle counted and its corresponding difference
◉ Which two statements are true about intercompany inventory
transactions
Answer: Drop Ship and Special Order are both supported between
subsidiaries, AND Pick Pack Ship is an otion for Interco transfers
◉ which 3 actions are supported using assembly functionality
Answer: Including Service Items, Serialized, Lot Number Items, and
tracking variation in quantities of components
◉ which 3 statements are trure about landed cost setup features
Answer: 1. Multiple Landed Cost Categories can be applied to an
Item receipt, 2. Landed Cost can be allocated by Weight, Cost,
Quantiy, or manual, 3. Both the Inventory Item and the Landed Cost
item must be marked Landed Cost = TRUE
◉ Landed Cost can be by
Answer: Weight, Cost, Quantity, or manual
◉ Pricing applied according to the quantity included in the line item
Answer: by Line Quantity
