NetSuite Foundation Exam Questions and answers, latest update. Rated A+

NetSuite Foundation Exam Questions and answers, latest update. Rated A+ - days are calculated from the last date user changed password - set values to minimum 180 - Payment card industry - automatically set to 90 days with access to view unencrypted credit card numbers - -Password expiration - displays personal/companys performance in sales support or other key areas - -Key Performance Indicators view the KPIs graphically - max 3 - -KPI Meters display portlet based on the results of a KPI - only managers/administrators have access to create KPI scorecards - -KPI scorecards setup user/roles view login audit trail tracks successful and failed logins with IP addresses - -Login audit Displays news feeds from popular websites which support RSS format - -RSS/Atom Portlet Quick looks at business results each time you view dashboard - -Report snapshots and Trend graphs - Multi-Location Inventory cannot be disabled - Multiple Currencies cannot be disables - -Standard NetSuite Account Enable features -Advanced taxes is enabled by default -Accounting period enabled by default - -OneWorld Account Enable features - do not rename a record the same as an existing record (customers to partners) - do not rename more than one record the same name - do not change the abbreviations - -Rename Records/Transactions Administrative: feature availability in your account and login failures Billing & Renewal Notices: payment requirements when you purchase new features and notify you when it is time to renew your contract Legal notifications: changes that require administrator acceptance, such as modifications of terms of services Service Release: information about access to the Release Preview Environment and the time frame when your account will be upgraded - -Administrative Notifications -Administrative -Billing and Renewal Notices -Legal Notifications - Schedule Maintenance - Service Release Notifications 74 subsidiaries and 1 parent - inactives do not count - elimination do not count - -How many subsidiaries does NetSuite support? eliminate revenue and expense at the consolidated level - only journal entries post to subisidiaries - -Elimination subsidiary 1. Setup- Company - Delete All Data - the NetSuite Administrator is the only role with access to this by default - resets account to blank shell - -Delete all data creates a contact record for each employee record - -Show Employee as contacts automatically pre-fills the address in a contact record when creating a contact from a customer record - -Pre-populate contact address 1. Company - classifications, data management 2. Accounting 3. Tax - advanced taxes checked by default 4. Transactions - sales, shipping & receiving, billing 5. Items & Inventory 6. Employees 7. CRM 8. Analytics 9. Web Presence 10. SuiteCloud - -Identify the general functionality that can be controlled under Enable features Classifications (Setup-Company-Enable Features: Company: Classifications) 1. Can be used to restrict access to system information 2. Departments: track transaction activity by department 3. Locations: manage information and activity for distinct locations within your company 4. Classes: use classes to help you sort transactions in any way you find helpful. - -Identify the general functionality of classifications Setup - Company - Subsidiaries 1. A transaction posts to one subsidiary except intercompany transactions 2. Different types of subsidiaries: o Standard o Elimination (check Elimination checkbox) Setup as a child of each parent entity with same base currency Associated with journal entries o Reporting o Statutory to GAAP - -Identify the general functionality of subsidiaries 1. Subsidiary Country, which determines the tax nexus, NetSuite edition and currency. 2. Base currency 3. Currency exchange rates 4. Consolidated exchange rate 5. Fiscal quarters 6. Tax Calendars 7. Subsidiary reporting requirements - -Identify considerations in planning subsidiary structure i. The country of business determines the edition (eg. US Edition, Australian Edition, etc) 1. In a OneWorld account, subsidiaries may use different NetSuite editions 2. Bundles are available for tax configuration in the general "XX" International NetSuite Edition. ii. Setup - Accounting - Set Up Taxes - -Identify the capabilities and setup of sales tax within NetSuite Editions and bundles i. SuiteBuilder, point and click functionality 1. Custom Forms a. Entry, Transaction, PDF Layout, HTML Layout 2. Custom Fields: on entity, CRM, Item and Transaction records a. Customization-List, Records & Fields -TYPE field b. Check box, date, decimal, free-form text, hyperlink, list/record, and percent c. Other Custom Fields are used for records that do not have custom forms associated with them and can be added