Microsoft Business Solutions Solomon 6.0 Financials Set 8

1.

What happens when the "Transaction Description Default" in AR Setup is set to Customer ID and the user types an additional description on a transaction in the Invoice and Memo screen?

The Customer ID appends to the user entered data and both are sent in their entirety to the GL. Only the user entered data is sent to GL Only the Customer ID displays and the user entered text is ignored. The Customer ID appends to the user entered data and the user entered data is truncated if it will not fitin the description field after the Customer ID is added.

2.

A customer took a discount on an invoice after the discount date. How can you use Small Balance/Credit Write Off to properly account for this amount as a discount?

Use the Multiple account/subaccount function to change the "Write-off Account" to the "Discount Account" The item cannot be shown as a discount and has to be written off to the "Write-off" account. Enter a "Discount" document in the Invoice and Memo screen. Use the Balance Write-Off in Payment Application and indicate the discount account.

3.

A company wishes to enter payments and match them up directly with the invoices they are associated with. Which of the following screens allows this capability?

Auto Apply Payments Payment Application Payment Entry Payment Application Inquiry/Reversal

4.

What is the purpose of the Customer Class field?

Determines the salesperson for the customer Determines the customer statement cycle Used to classify customers for reporting purposes Defaults General Ledger accounts for the customer.

5.

A Payment for customer "Trey Research" was entered for "Adventure Works" by mistake and applied to an invoice for the same amount. How do you correct this situation?

Use Payment Application Inquiry/Reversal to Void the payment. Use Payment Application Inquiry/Reversal to "Reclassify" the payment from Trey Research toAdventure Works. Use Payment Application Inquiry/Reversal to "Unapply" the payment from the invoice then "Reclassify" itto Adventure Works. Run the Auto Apply Payments Process

6.

What must happen in order to activate the "Balance Write-Off" button in Payment Application?

The "Write-off Limit" must be specified in AR Setup. The Auto Apply Payment Tab must be used to allocate the payment amount. The Document Balance must be less than the "Write-off Limit". The button is always activated and any amount can be written off at any time.

7.

Which of the following modules integrates with the Accounts Receivable module either by sending information to AR or receiving information from AR?

Order Management Purchasing Cash Manager General Ledger

8.

When is the Order Management tab available in the Customer Maintenance screen?

The OM tabs are only available when the Order Management module is installed and set up. The OM tabs are made available after the AR Setup screen is completed and saved. The OM Tabs are always available. The OM Tabs are for a future enhancement.

9.

If payments from customers are to be matched to specific customer invoices, which process should not be run?

Auto Payment Application Close Statement Cycle Age Customer Detail Apply Finance Charges

10.

What happens in the Payment Applications screen when the "Auto Apply Payments" box in Customer Maintenance is checked for a particular customer?

The payment can be entered but the open invoices do not display for the customer. The payment is automatically applied to the oldest open documents and the payment applications donot display. The Customer ID for Auto Apply customers cannot be selected in this screen. The Payment Number is automatically assigned.

Microsoft Business Solutions Solomon 6.0 Financials Set 8

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Microsoft Business Solutions Solomon 6.0 Financials Set 8

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