Sage Intacct Implementation questions
with complete solutions
General Ledger: What rolls an account's ending balance, for each reporting period into the retained
earnings accounts, effectively making the balance forward for the account zero? - correct answer
✔✔Non-closing accounts
General Ledger: What GL configuration option prevents users from entering a journal entry or other
transaction that does not balance for the current dimension? - correct answer ✔✔Enforce JE balancing
General Ledger: What does an entity translate to for transacting in a multi-entity shared environment? -
correct answer ✔✔Location
General Ledger: What would cause a JL journal entry to fail? - correct answer ✔✔Modifying template
header titles
General Ledger: What do you enable to require approvals for all transactions in a particular journal? -
correct answer ✔✔Journal Entry approvals
General Ledger: What records are used to track non financial data, such as employee headcount or the
number of members? - correct answer ✔✔Statistical Accounts
General Ledger: What process prevents entries and/or changes to a ledger for a specific period? - correct
answer ✔✔Closing the books
General Ledger: Which type of journal entry is used for posting to a closed period? - correct answer
✔✔Adjusting
Purchasing: What enables to categorize items for the purpose of posting to specific GL Accounts when
using Advanced Workflows in the purchasing application? - correct answer ✔✔Item GL Group
, Purchasing: PO for a certain qty of item, need to pay for lesser qty. What setting in the PO transaction
definition controls how you would process this transaction? - correct answer ✔✔Partial Conversion
Handling
Purchasing: What dimension represents goods or services purchased from a vendor? - correct answer
✔✔Item
Purchasing: How does the system determine what type of transactions require aproval, what approvals
are required, and the sequence of approvals? - correct answer ✔✔Approval Policies
Purchasing: What transaction definition setting requires at least one debit/credit account pair defined? -
correct answer ✔✔Transaction Posting set to Accounts Payable
Accounts Receivables: What would you view to see all of the following information: customer aging info,
amount due and amount paid, and total payments received? - correct answer ✔✔Statement
Accounts Receivables: What transaction type decreases the amount a customer owes you? - correct
answer ✔✔Credit memo
Accounts Receivables: What customer account type causes the system to apply customer payments
against the total balance due? - correct answer ✔✔Balance forward
Accounts Receivables: What feature provides user-friendly names for GL accounts when entering
customer invoices? - correct answer ✔✔Account Labels
Accounts Receivables: What determines how customer discounts can be calculated on the full
transaction amount or total line items only? - correct answer ✔✔AR Terms
Accounts Receivables: How do you ensure Customer Invoices have no impact on the General Ledger? -
correct answer ✔✔Import AR Invoices and select historical posting
Accounts Receivables: How are new IDs or numbers automatically generated for customers and
transactions? - correct answer ✔✔Document Sequencer
with complete solutions
General Ledger: What rolls an account's ending balance, for each reporting period into the retained
earnings accounts, effectively making the balance forward for the account zero? - correct answer
✔✔Non-closing accounts
General Ledger: What GL configuration option prevents users from entering a journal entry or other
transaction that does not balance for the current dimension? - correct answer ✔✔Enforce JE balancing
General Ledger: What does an entity translate to for transacting in a multi-entity shared environment? -
correct answer ✔✔Location
General Ledger: What would cause a JL journal entry to fail? - correct answer ✔✔Modifying template
header titles
General Ledger: What do you enable to require approvals for all transactions in a particular journal? -
correct answer ✔✔Journal Entry approvals
General Ledger: What records are used to track non financial data, such as employee headcount or the
number of members? - correct answer ✔✔Statistical Accounts
General Ledger: What process prevents entries and/or changes to a ledger for a specific period? - correct
answer ✔✔Closing the books
General Ledger: Which type of journal entry is used for posting to a closed period? - correct answer
✔✔Adjusting
Purchasing: What enables to categorize items for the purpose of posting to specific GL Accounts when
using Advanced Workflows in the purchasing application? - correct answer ✔✔Item GL Group
, Purchasing: PO for a certain qty of item, need to pay for lesser qty. What setting in the PO transaction
definition controls how you would process this transaction? - correct answer ✔✔Partial Conversion
Handling
Purchasing: What dimension represents goods or services purchased from a vendor? - correct answer
✔✔Item
Purchasing: How does the system determine what type of transactions require aproval, what approvals
are required, and the sequence of approvals? - correct answer ✔✔Approval Policies
Purchasing: What transaction definition setting requires at least one debit/credit account pair defined? -
correct answer ✔✔Transaction Posting set to Accounts Payable
Accounts Receivables: What would you view to see all of the following information: customer aging info,
amount due and amount paid, and total payments received? - correct answer ✔✔Statement
Accounts Receivables: What transaction type decreases the amount a customer owes you? - correct
answer ✔✔Credit memo
Accounts Receivables: What customer account type causes the system to apply customer payments
against the total balance due? - correct answer ✔✔Balance forward
Accounts Receivables: What feature provides user-friendly names for GL accounts when entering
customer invoices? - correct answer ✔✔Account Labels
Accounts Receivables: What determines how customer discounts can be calculated on the full
transaction amount or total line items only? - correct answer ✔✔AR Terms
Accounts Receivables: How do you ensure Customer Invoices have no impact on the General Ledger? -
correct answer ✔✔Import AR Invoices and select historical posting
Accounts Receivables: How are new IDs or numbers automatically generated for customers and
transactions? - correct answer ✔✔Document Sequencer
