56- Your company manager has a question for you. In Payables Management, how many aging periods can be set up A. 6 aging periods can be set up. B. 7 aging periods can be set up. C. 3 aging periods can be set up. D. 4 aging periods can be set up. E. 5 aging periods can be set up.
57- A customer bought a MP4 in a store. If the shipping method is pickup on a Receivables transaction, and the option in the Company Setup Options window to use the shipping method when selecting default tax schedules is chosen, on the transaction, what tax schedule appears by default? A. The tax schedule assigned to the phone B. The tax schedule assigned to the customer C. The tax schedule assigned to your company D. The tax schedule assigned in Receivables Management Setup.
58- You have a colleague named Tom in the company. After he posted an invoice, he realized that he chosen the wrong payment terms, which leads to an incorrect due date calculated for the invoice. Therefore, he wants to have the due date on the invoice changed. Since you are the technical support, he asks for your help. So what action should you perform? (Choose more than one) A. The due date should be changed by using the Edit Payables Transactions window. B. Void the invoice and it should be reentered with the correct due date. C. The due date of the invoice should be changed by using Payables Utilities. D. After the invoice is deleted, it should be reentered with the correct due date.
59- At the time of setting up a variable allocation account, which of the following is a requirement? A. All breakdown accounts must be posting accounts. B. All breakdown accounts must be unit accounts. C. The distribution accounts must be either all posting accounts or all unit accounts. D. Distribution percentages must be entered for each breakdown account.
60- Since you are the technical support, your company manager has a question for you. In the following options, which are requirements to post a cash receipt in Receivables Management? (Choose more than one) A. Must be applied to one sale/invoice B. Must be fully applied C. Must be fully distributed D. The customer must be active.
61- Your company manager has a question for you. In the event that the component might be linked to a different asset in the future, what is the best way to track component (related) assets? A. The Asset Label field B. The Short Name field C. The Asset ID/Suffix field D. The Master Asset ID field.
62- At the time that a variable allocation account is set up, which type of accounts can be used as breakdown accounts? (Choose more than one) A. Other Variable Allocation Accounts can be used as breakdown accounts. B. Unit Accounts can be used as breakdown accounts. C. Posting Accounts can be used as breakdown accounts. D. Fixed Allocation Accounts can be used as breakdown accounts.
63- The System Administrator is setting up posting rules in Posting Setup. The Administrator decided to choose the use Account Settings option in Posting Setup. What is the purpose of this option? A. This option permits the use of the account level security option. B. This option permits posting to be limited to certain accounts. C. This option permits some accounts to be posted to in detail and others in summary. D. This option allows for the restriction of which accounts appear in each serieS.
64- There is a check written to your company to pay an invoice. This check was incorrectly posted in Payables Management and it updated the checkbook in Bank Reconciliation. Since you are the technical support, your company manager has a question for you. In Microsoft Dynamics GP, how should be this check be voided? A. Void the check in Bank Reconciliation and it automatically updates Payables Management. B. Void the check payment in Payables Management and it automatically updates Bank Reconciliation. C. Void the check payment in both Payables Management and in Bank Reconciliation to update both modules correctly. D. Void the check amount when reconciling the checkbook and it automatically updates both Bank Reconciliation and Payables. Management.
65- Since you are the technical support, your company manager has a question for you. In Receivables Transaction Entry, which document allows cash to be returned to a customer? A. Return allows cash to be returned to a customer. B. Warranty allows cash to be returned to a customer. C. Service allows cash to be returned to a customer. D. Credit Memo allows cash to be returned to a customer.
66- Your company manager has a question for you. Which number is automatically generated by Microsoft Dynamics GP to uniquely identify the transaction at the time that a transaction is entered in Payables Transaction Entry? A. Apply Number is automatically generated. B. Voucher Number is automatically generated. C. Invoice Number is automatically generated. D. Document Number is automatically generated.
67- Your company manager has a question for you. When will a posting journal be generated from the Apply Payables Document window? (Choose more than one) A. a posting journal will be generated at the time that a document is fully applied B. a posting journal will be generated at the time that a discount is taken C. A posting journal will be generated at the time that a writeoff is taken D. A posting journal will be generated at the time that a payment is unapplied.
68- In a company, some adjusting entries will need to be made to accounts in General Ledger. The accountant has no intention to close the year unless these adjustments are made. How many open years does Microsoft Dynamics GP allow?
A. 1 B. 2 C. 3 D. Unlimited.
69- Your company manager has a question for you. In Payables Transaction Entry, which transaction types can be entered in recurring batches? (Choose more than one) A. Credit Memos can be entered in recurring batches B. Invoices can be entered in recurring batches C. Invoices with Payments can be entered in recurring batches D. Miscellaneous Charges can be entered in recurring batches.
70- The Controller needs to be able to reprint posting journals for auditing purposes. Where must the Controller go to select the option to have this ability? A. The Controller must go to Batch Entry window B. The Controller must go to Posting Setup window C. The Controller must go to Posting Journal Setup window D. The Controller must go to Audit Trail Codes Setup window.
71- Since you are the technical support, your company manager has a question for you. What fields can be changed with the use of the Edit Receivables Transaction window? A. Transaction Amount can be changed. B. Due Date can be changed. C. Customer ID can be changed. D. Discount Date can be changed.
72- Your company manager has a question for you. He wants to know the benefits of using national accounts. Since you are the technical support, he asks for your answer. So what do you reply to him? (Choose more than one) A. Cash receipts can be received from the parent on behalf of a child. B. Cash receipts can be received from the child on behalf of the parent. C. The parent and each child customer retain their own demographic and sales summary information. and • D. Statements for the parent and all child accounts can be combined into one statement.
73- Your company CIO has a question for you. Of the following options, which are requirements to post General Ledger intercompany transactions in Microsoft Dynamics GP? (Choose more than one) A. a batch is required for all intercompany transactions. B. The account format in each of the companies must be the same. • C. An intercompany relationship must exist for all companies on the transaction.
• D. All companies on the intercompany transaction must have a functional currency defined.
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74- Your company manager has a question for you. In which situation does a remittance form automatically print for a computer check in Payables Management? A. If any of the checks are printed for more than the maximum check amount. B. If more than one voucher is paid on a computer check. C. If there are more than ten items that need to print on the check stub. D. If there are more than twelve items that need to print on the check stub.
75- Since you are the technical support, your company manager has a question for you. In the event that the transactions of a customer need to be consolidated at the end of each period, how should this customer be set up? • A. The maintain transaction history check box should be cleared. • B. A balance type of Balance Forward should be chosen. • C. A customer status of Temporary should be chosen. • D. A statement cycle of No Statement should be chosen.
76- Your company CIO has a question for you. In Microsoft Dynamics GP, edit lists can be printed from which of the following windows? (Choose more than one) • A. Series Posting windows • B. Batch Entry windows • D. Transaction Entry windows • C. Master Posting window.
77- Your company CIO has a question for you. The options below are statement about users that are set up in Microsoft Dynamics GP. Which statements are not correct? (Choose more than one) • A. Users must be assigned to a class. • D. Users can only be deleted in SQL, while not Microsoft Dynamics GP • B. Users can be granted access to more than one company • C. Users can set their own display settings in User Preferences.
78- Transactions were posted to unit, posting, fixed allocation and variable allocation accounts in General Ledger. Which of the following accounts always have a zero balance? (Choose more than one) • A. Variable Allocation • D. Fixed Allocation • B. Unit • C. Posting.
79- Since you are the technical support, your company manager has a question for you. Of the following modules, which cannot send transaction information to Bank Reconciliation? • A. General Ledger • B. Payroll • C. Payables Management • D. Receivables Management.
79- The Reconcile to GL feature is used to help with reconciling which of the following subsidiary modules to control accounts in General Ledger? (Choose more than one) • A. Inventory Control • C. Bank Reconciliation • B. Payables Management • D. Receivables Management.
81- Since you are the technical support, your company manager has a question for you. When are transactions moved to history in Bank Reconciliation? • A. Transactions are moved to history in Bank Reconciliation at the time that the transactions created from Bank Reconciliation in General Ledger are posted • B. Transactions are moved to history in Bank Reconciliation at the time that they are posted in Bank Reconciliation • C. Transactions are moved to history in Bank Reconciliation at the time that the year is closed in Bank Reconciliation • D. Transactions are moved to history in Bank Reconciliation at the time that they are reconciled in Bank Reconciliation.
82- Your company manager has a question for you. He wants to know where a default depreciation method can be designated for a group of assets. Since you are the technical support, he asks for your answer. So what do you reply to him? • A. Book Setup • B. Class Setup • C. Book Class Setup • D. Account Group Setup.
83- Your company manager has a question for you. In the year-end closing process in General Ledger, what happens? (Choose more than one) • A. The General Ledger account balances are reconciled for the year. • B. Profit and Loss account balances are closed to the retained earnings account. • C. Balance sheet accounts are summarized, bringing the balances forward as the accounts?beginning balance in the new fiscal year. • D. The financial statements print for the year automatically after the year-end closing is complete.
84- Since you are the technical support, your company manager has a question for you. If accounts are not entered for a customer in Customer Maintenance, where does the system look for account numbers to default on transactions? • A. The Salesperson assigned to the Customer • B. The Customer Class • C. Posting Accounts Setup • D. Audit Trail Codes Setup.
85- Your company manager has a question for you. In Organization Structures, how many organizational levels can be created? • A. 2 • B. 3 • C. 4 • D. 6.
86- The System Administrator of your company completed all the security setups for a company. In Microsoft Dynamics GP, where is security activated for the company? • A. Security Role Setup is security activated for the company. • B. SQL Options window is security activated for the company. • C. Company Setup window is security activated for the company. • D. Security Setup window is security activated for the company.
87- Your company manager has a question for you. How is the batch total calculated for a Payables Batch? • A. Total of all debits and credits • B. Absolute value of all documents • C. Actual value of only the vouchers in the batch • D. Actual value of all documents minus any payments entered on a transaction.
88- Your company manager prints a transaction history report and some transactions entered are not on the report. Since you are the technical support, your company manager has a question for you. When are transactions moved to history in Receivables Management? • A. Transactions are moved to history at the time of the paid transaction removal process • B. Transactions are moved to history in the process of aging. • C. Transactions are moved to history at the time that the transaction is posted • D. Transactions are moved to history at the time that the year-end closing process.
89- An invoice has been posted and fully applied to a payment. Later, the payment is voided. What happens to the invoice that is applied to the payment? • A. The invoice is moved back to the Payables Transaction Work table • B. The invoice is voided also • C. The invoice is moved to the Payables History table • D. The invoice is returned to the Payables Open Transaction table.
90- Your company CIO has a question for you.In the following functions, which provides an option to designate a default printer for aspecific task such as printing payables checks? • A. Named Printers • B. Process Server • C. Activity Tracking • D. Windows Print Setup.
91- Since you are the technical support, your company manager has a question for you. In Receivables Posted Transaction Maintenance, which of the following cannot be accomplished? • A. Void a previously posted payment • B. Record a NSF check • C. Waive a finance charge • D. Edit the due date on an invoice.
92- At the time of setting up a new fiscal year in Microsoft Dynamics GP, what is the maximum number of fiscal periods that can be created? • A. The maximum number of fiscal periods that can be created is 368 • B. The maximum number of fiscal periods that can be created is 13 • C. The maximum number of fiscal periods that can be created is 366 • D. The maximum number of fiscal periods that can be created is 367.
93- Your company manager has a question for you. He is not clear about the purpose of Purchasing Posting Accounts in Fixed Assets.
Since you are the technical support, he asks for your answer. So what do you reply to him?
• A. This is the account used to trigger Fixed Assets that an item from Purchase Order Processing needs to be capitalized when interfacing by receipt line. • B. This is the account that is debited when an asset is added in Fixed Assets • C. This is the account that is credited when an asset is added in Fixed Assets. • D. This is the account used to trigger Fixed Assets that an item from Payables Management needs to be capitalized.
94- After a General Ledger Trial Balance report and financial statements for the same period are been printed, the head of the Account finds that the balances for some accounts are different when comparing the two reports. What does the head of the account need to do? • A. Confirm that all batches are posted in General Ledger, since transactions that are not posted could cause this difference. • B. Restore a backup; data is damaged. • C. The reconcile year routine should be run and the reports should be reprinted to see if it fixes the data. • D. Transactions should be posted to correct the balances on the financial statements so they match the trial balance.
95- At the time that the Finance Charge process is run at period-end, what additional step must be taken to have the finance charges appear on customer statements in Receivables Management? • A. Aging must be performed • B. Post the finance charge batch • C. Paid Transaction Removal must be run • D. No other step is needed to perform.
96- Suppose that General Ledger transactions are posted to a fiscal year. If the number of periods in the fiscal year is changed, what utility need to be run? • A. Rebuild should be run. • B. Mass Modify should be run. • C. Check Links should be run. • D. Reconcile should be run.
97- Your company manager has a question for you. The options below are statements about recurring batches in Payables Management. Which one is not correct? • A. The posting date increments on the basis of the selected batch frequency each time the batch is posted. • B. Payments can be entered into a recurring batch. • C. The recurring batch can be saved in the system indefinitely. • D. It is an efficient way to enter transactions that repeat on a frequent basis, such as monthly rent.
98- Since you are the technical support, your company manager has a question for you. Of the following statements, which describe an open item customer? • A. Payments can be applied to specific invoices. • B. The two aging periods used are current and non-current. • C. Transaction detail is cleared at period-end and lumped into one transaction going forward for the customer. • D. Unapplied debits and credits are removed if they are equal in value in the process of Paid Transaction Removal.
99- If a purchases account is entered in Vendor Account Maintenance and an additional purchases account is also set up and is selected to default on the transaction, what is the consequence? • A. Both accounts default on the transaction. The purchase amount is automatically split evenly by the system between the purchases account and the additional purchases account. • B. Both accounts default on the transaction, with the entire purchases amount defaulting on the newly added additional purchases account. • C. Both accounts default on the transaction with a zero amount and the purchases amount desired to post to each account needs to be posted manually. • D. Both accounts default on the transaction, with the entire purchases amount defaulting on the purchases account from the Vendor Account Maintenance window.
100- The Accounting Manager has set up users, security tasks and security roles. How are these used in Microsoft Dynamics GP? • A. Security roles are assigned to security tasks, users are assigned to security roles. • B. Security tasks are assigned to security roles, users are assigned to security tasks. • C. Security tasks are assigned to users, security roles are assigned to security tasks. • D. Security roles are assigned to users, security tasks are assigned to security roles.
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