Microsoft Solomon 6.0 Project Management and Accounting Set 2

1.

What is the primary function of the Default or System Task?

It is used for project-related entries that were coded to a project but not a task. The default task is used as a placeholder if tasks have yet been assigned to a project. The default task is used when transferring AR invoices and payments. The default task is used to track Billed to Date amounts.

2.

When released, Project Charge Entry batches update which Project Controller tables?

PJTRAN, PJTRANEX, PJPTDROL, PJPTDSUM, PJACTROL, PJACTSUM PJTRAN and PJTRANEX PJPROJ, PJPTDROL, PJPTDSUM PJPROJ and PJPROJEX

3.

What is the minimum information that needs to be set up for a task?

The Task ID The Task ID and Description The Task ID and Description and Subaccount The Task ID and Description and Subaccount and Manager

4.

Which of the following is true about the way Revenue Recognition general ledger postings may be configured?

Revenue or Unbilled Revenue postings can be made. Customer specific subaccounts may be used. Contract specific Revenue accounts can be used. The revenue GL Account selected for posting can be driven by a specific account category.

5.

Billed-to-Date and Contract Value Account Categories are generally of which type?

Asset Liability Revenue Non-Accounting

6.

How does the Pay Labor Interface post when interfaced to an External File?

A comma-delimited file posts, in ADP format, to the Solomon IV TMExtracts directory for timecards up to and through the selected Fiscal Period. A comma-delimited file posts to the Solomon IV TMExtracts directory for timecards up to and throughthe selected Fiscal Period. A comma-delimited file posts, in ADP format, to the Solomon IV TMExtracts directory for timecards upto and through the selected Week Ending date. A comma-delimited file posts to the Solomon IV TMExtracts directory for timecards up to and throughthe selected Week Ending date.

7.

After a Timecard has been posted, which of the following is the most accurate way to create correcting entries for the same Week Ending period?

Use Timecard Correction screen to correct the timecard. create a new Timecard for the same Week Ending period with the adjusting entries. use Project Charge Entry to create adjusting entries for the week. create a correction using Timesheet Entry.

8.

How can an incorrect Timecard be corrected?

If the status is 'In Process', it can be changed; if the status is 'Completed', a supervisor or manager must reject it; if the status is 'Posted' a Timecard Correction must be entered. If the status is 'In Process' or 'Completed', it can be changed; if the status is 'Posted' a TimecardCorrection must be entered. If the status is 'In Process' or 'Completed', a supervisor or manager must reject it; if the status is'Posted' a Timecard Correction must be entered. If the status is 'In Process' or 'Completed', it can be changed; if the status is 'Posted' a supervisor ormanager must reject it.

9.

What is the difference between the Daily and Weekly option for Labor Transactions and Invoice Comments?

Selecting Daily allows each day's timecard line items to be posted on a daily basis; selecting Weekly allows timecards to be posted on a weekly basis. Selecting Daily will post one record per project\task\day to the timecard and labor distribution tables;selecting Weekly will
summarize by project\task\week. Selecting Daily will post one record for each day worked to the timecard and labor distribution tables;selecting Weekly will summarize by week. Selecting Daily allows a new timecard to be created and posted each day; selecting Weekly allowstimecards to be created and posted on a weekly basis.

10.

When are Labor Commitment costs relieved and refreshed?

When the Timecard or Timesheet is posted. When a Timecard or Timesheet is approved. When Labor Commitment Load is run again. When the period is closed.

Microsoft Solomon 6.0 Project Management and Accounting Set 2

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Microsoft Solomon 6.0 Project Management and Accounting Set 2

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