Microsoft Business Solutions Solomon 6.0 Financials Set 6

1.

What is the importance of the transaction date field in the Cash Account Transactions screen?

The date entered determines the period to which the transaction will be posted. The date determines when the transaction is included in the Bank Reconciliation. The date is used to update the cash account balance in the Daily Cash Balance inquiry screen. The date is irrelevant and can be left as the current system date.

2.

What happens when a batch of Cash Account Transactions that contains payments that update Accounts Receivable is released in Cash Manager?

A batch containing the payments is sent to the Payment Entry screen in Accounts Receivable. The batch is left on Balanced status in Cash Manager until the payments are applied in the AccountsReceivable module, then the batch is released in Cash Manager. A batch is sent to the Accounts Receivable Payment Applications screen. A batch of transactions is created in the General Ledger that debits the bank account and credits the ARHolding account.

3.

When is the "Accept Updates from GL Transactions" option not available for a particular account in the Cash Account Maintenance screen?

The field is never available in this screen. When the "Accept Updates from GL Transactions" option in the CA Setup screen has not beenchecked. When the "Show GL Bank Reconciliation Information" option in the CA Setup screen is checked. After the first Initializing entry has been made for the account.

4.

Which types of transactions can be entered in the Daily Cash Balances screen?

Disbursements only Receipts only Either Receipts or Disbursements Transactions cannot be entered in this screen

5.

The Cycle field is only used when the Frequency is set to which of the following in the Recurring Item Maintenance screen?

Weekly Bi-Weekly (every two weeks) Semi-Monthly (twice per month) Monthly

6.

What is the maximum number of Cash accounts that can be tracked in Cash Manager?

1 10 99 Unlimited

7.

Which Entry Type does NOT create General Ledger transactions?

The transactions created in Cash Manager do not update the General Ledger regardless of the Entry
Type. The system created entry types for PA, CK, UC, ZZ. The system created entry types that begin with the letter O. The user created entry types that begin with the letter O.

8.

How often can the Bank Reconciliation process be performed?

Only after the Cash Manager is closed for the accounting period As often as necessary up to once per day Not more than once per week Only once per month

9.

Which Entry Type is reserved by the system to record the offsetting entry to cash?

TR CE CK ZZ

10.

When the Receipt/Disbursement Flag in the Entry Type Maintenance screen is set to Receipt, this indicates a Receipt to which account?

Bank/Cash Account used in the Cash Account Transactions screen. The off-setting account used in the transaction area of the Cash Account Transactions screen. The off-setting expense account used in the transaction area of the Cash Account Transactions screen. The off-setting income account used in the transaction area of the Cash Account Transactions screen.

Microsoft Business Solutions Solomon 6.0 Financials Set 6

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Microsoft Business Solutions Solomon 6.0 Financials Set 6

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