Knowledge Checks Flashcards
What must be added first to organize data on a form.
A. Fields
B. Lists
C. Subtabs
C. Subtabs
Use a _________ to control how information is entered and viewed
Answer: Custom Form
What can you use if a record cannot be imported though .csv imports?
Answer: Web Services
How should you want to configure duplicate detection on email differently for companies than individuals?
Company duplicate detection for emails should use domain only instead of full email
How should you revise multiple records using criteria and at one go?
A. Mass Update
B. .csv update import
C. Inline editing on a search
A. Mass Update
What are two options for entering serialized inventory into NetSuite?
Answer: (1) manual entry with serial numbers (space, comma or line breaks) that match the inventory count
OR
2. Using the barcode feature
non-inventory items are available for sales, resale and ______ ?
Answer: Purchase
What are dunning letters?
A. A method of reconciling inventory
B. A method of marketing to customers
C. A method of tracking and communicating about overdue invoices
D. A systematic feature for sending customers letters about credit issues
C. A method of tracking and communicating about overdue invoices
\_\_\_ Bill \_\_\_ Vendor Credit \_\_\_ Vendor Payments to be printed \_\_\_ BIll Purchase Order \_\_\_ A/P Aging Summary
A. Listing all unpaid bills in accounts payable
B. Transaction entered to record a payable that does nto have a purchase order, such as a charge of utilities
C. You want to put payable into a print queue
D. Credit from a vendor that can be applied to our payable account
E. Invoice received from vendor and convert PO to a payable
B D C E A
A ______ decrease the amount the customer owes
credit memo
We received a partial quantity of po line item, the vendor will never ship the remaining qty. How should I hand the PO and billing the PO?
A. Bill for what you have received, then close the PO
B. Close the PO
C. Bill the PO only
D. Delete the itemson the PO that will not be shipped
A
How can I maintain more control over the vendor bills and the payment of those bills?
A.Use Purchase Order Approval Settings
B. Remove access to Vendor Bills
C. Review setup > accounting > accounting preferences > order management subtab and the bill and po approval settings
D. Use purchase orders
C
Note: In the Default Supplier Bill Status field, select one of the following:
Approved – Bills default to an Approved status. No further review or processing is required.
Pending Approval – Bills default to a Pending Approval status. Someone with permission must approve the bill before a payment can be processed for it.
I need to start closing accounting periods. What do I do?
A. Go to lists > accounting, accounts and inactivate accounts
B. Go to the manage account periods page and click on the checklist
C. Post all open journals
D Go to setup > Accounting > Accounting preferences
B
Manage Accounting Periods Page
The Manage Accounting Periods page is a list of all of the accounting periods set up in your account, and rolled up in the accounting period hierarchy to which they belong. Use this page to set up, view, and edit periods. You can also access the Period Close Checklist to lock, unlock, and close accounting periods. To see this page, go to Setup > Accounting > Manage G/L > Manage Accounting Periods (Administrator).
Note This page is available if you have the View level or higher of the Manage Accounting Periods permission. You must have at least the Edit level of this permission to set up or edit accounting periods.
If your user role has the Period Closing Management permission and the Allow Quick Close of Accounting Periods preference is enabled, you can close one or more accounting periods with a single click. For more information, see Using Quick Close to Close Periods.
If you use Multi-Book Accounting, you can individually close and reopen accounting periods associated with any accounting book, without impacting your other accounting books. You choose the accounting book for which you want to close a period through the Filters section at the top of this page. The accounting books available for selection depend upon your user role and associated permissions. For more information about the Extended Accounting Period Close Process feature, see Accounting Book Period Close Management.
.
Sales rules and territories are related. If so, how are they related?
A. True. Rules are assigned to territories
B. False. Rules are for Sales Reps to process transaction and territories for sales teams
C. True. Sales Rules ensures that transactions are assigned to the correct territories
D. False. Territories and Rules have absolutely no relationship at al
A
Note:
C is wrong because leads, prospects and customers are the focus of sales rules not Transactions
You can update the underlying data from the report
A) True
B) False
B) False. You have to drill down into the information to get to the actual transaction to update the information.
Using the name (Grouped) exposes any underlying hierarchy
A) True
B) False
A) True. The name (grouped) field exposes any underlying hiearchy
Use the Full Name is the best way to get grouping and subtotaling.
A) True
B) False
B) False. Fullname has the “Parent:Child” relationship but it does not have the hierachy so it lacks the flexibility that name (grouped) could give you.
Report customization is easy, jump right into it
A) True
B) False
B) False
Which of the following defines the accounts that display in a row on a financial statement
A. Report
B. Section
C. Footer
B. Section
Reference rows (which can display a value from a section or row from another report) cannot be used on the following:
A. Cash Flow
B. Income Statement
C. Balance Sheet
B. Income Statement
Header and Summary rows can contain sections.
A. True
B. False
A. True
A. Allows for a section total to display in another report (income in equity)
B. Black space or description notes
C. Not available for financial statements
D. Accounts grouped by user criteria
E. Link financial sections, formula rows and text rows together
F. Combine 2 or more rows/sections using mathematical Functions
_ Summary Row _Financial Section _Formual Row _Reference Row _Web Query _Text Row
D_Summary Row (Accounts grouped by user criteria)
A_Financial Section (Allows for a section total to display in another report (income in equity)
F_Formual Row (Combine 2 or more rows/sections using mathematical Functions)
E_Reference Row (Link financial sections, formula rows and text rows together)
C_Web Query (Not available for financial statements)
B_Text Row (Black space or description notes)
How can you modify the name of multiple report layouts at the same time?
From reports > financial > reports > layouts > financial row layouts. Turn on “Edit” for inline edits.
Layouts cannot be shared across financial statement
A. False, in the sense that a layout created for a balance sheet with another balance sheet
B. True, in the sense that you cannot create a layout for a balance sheet then apply to income statements.
C. Both A and B
C. Both A and B
How do you modify content in a financial report?
A. Modify a layout
B. Drill down into the information and link to and update transactions.
B. Drill down into the information and link to and update transactions.
(ds)
What is the order of the five steps to create a new report?: \_\_ Metric \_\_Format \_\_Subtotal \_\_Data \_\_Summarize
2\_\_ Metric 3\_\_Format 4\_\_Subtotal 1\_\_Data 5\_\_Summarize
My report has a budget column and a formula column to show variances. It is set up tp use periods as a persistent matrix. How many columns does it have? A. 26 B. 24 C. 36 D 16
C. 36
Which date range option is used for date comparison between two columns? A. Relative to report date B. Relative to todays date C. Relative to current fiscal year D. Relative to transaction date
A. Relative to report date
Saved searches can on only display a list of results, rather than a report-style view of results.
A. True
B. False
A. True
In Saved Searches, If using Summary Types, be sure to group on of your values before applying quantitative summary types of your other results.
A. True
B. False
A. True
In a saved search, I need my result to display as an integer, but it displays as 5.3333333 what do I do?
A. Set initial data inputs to round off data
B. Apply the “round’ function with the specified decimal to round of the results
C. Set the results to display integers only
B. Apply the “round’ function with the specified decimal to round of the results
Check available as dashboard view on a saved search to allow the saved search to reside in one of the 6 custom search portlets.
A. True
B. False
B. False. The check available as dashboard view only controls the list portlet.
Provide 1 reason why all saved searches cannot be used as KPIs
KPIs must be supported by a single summary type and a date filter.
For a saved search to be used as a custom KPI that displays results for multiple date ranges in the Key Performance Indicators portlet, a KPI scorecard, a trend graph, or a KPI meter, the search definition must meet the following requirements:
Not include any date fields defined as filters on the Criteria subtab. See Defining Standard Search Filters.
Have exactly one field with a summary type (such as count, group, or sum) defined on the Results subtab. The rest of the fields on the Results subtab should not use any summary types. See Defining Summary Types to Roll Up Search Results.
Have a date field defined as an available filter on the Available Filters subtab. See Selecting Available Filters for Saved Searches.
How many KPIs can you add to the KPI portlet? A. 10 B. 12 C. 14 D. 8
A. 10
Can you display any KPI i as a KPI Meter?
A. Yes. Only if KPI is in the KPI Portlet.
B. Yes. NetSuite can show custom KPIs as KPI Meters any time
C. No
D. Yes. Only admins can configure KPIs that can be shown as Meters.
A. Yes. Only if KPI is in the KPI Portlet.
Where do I create KPI score cards?
A. Home > Set Preferences > Analytics
B. Customizations > Centers and Tabs > KPI Scorecards
C, Setup > Accounting > Analytics > KPI tab
D. Customizations > Analytics > KPI Scorecards
B. Customizations > Centers and Tabs > KPI Scorecards
(ds)
Creating a KPI Scorecard
NetSuite enables you to create custom scorecards that can be displayed in the KPI Scorecard dashboard portlet.
To create a new KPI scorecard:
Go to Customization > Centers and Tabs > KPI Scorecards > New.
If this menu option is not available, the KPI Scorecards feature may not be enabled. See Enabling the KPI Scorecards Feature. Or you may not have permission to create scorecards. Check with your account administrator to ensure you have the KPI Scorecards permission.
At the top of the page, you can enter basic scorecard information. See Entering Basic Scorecard Information.
On the KPIs subtab of the Content subtab, you can add KPIs and define their comparisons, and add formulas and define formula expressions.
Scorecards can intermingle KPIs and formulas and compare them to each other, so you define KPIs and formulas in the same place using some slightly different fields on the subtab.
For KPI steps, see Defining KPI Scorecard Comparisons.
For formula steps, see Defining KPI Scorecard Formulas.
If you define custom KPIs to be used in scorecards, you need to define their underlying saved searches on the Custom subtab of the Content subtab.
Only saved searches with a date field defined under Available Filters are available for use as custom KPIs in scorecards. The exception is if you enable the Use Periods option for a scorecard. Then only saved searches with a Period filter defined under Available Filters are available.
After you have entered KPIs and formulas, you can reorder them by dragging and dropping or using the Move buttons.
On the Date Ranges (or Periods) subtab of the Content subtab, you can define multiple date ranges (or periods). These date ranges apply to all scorecard data. See Defining KPI Scorecard Date Ranges or Periods.
After you have entered date ranges, you can reorder them by dragging and dropping or using the Move buttons.
On the Highlighting subtab of the content subtab, you can set highlighting options to make results more visible in KPI Scorecard portlets. See Highlighting KPI Scorecard Results.
On the Audience subtab, you can define who has access to your scorecard, meaning who can put it in their KPI Scorecard portlet. You can base this definition on roles, departments, subsidiaries, groups, employees, or partners. See Sharing a Custom KPI Scorecard.
When you have completed all steps to define the scorecard, click Save.
Do I have to do anything specific to enable reporting by period from KPI score cards?
A. Select KPIs from saved searches with period a filter
B. Nothing
C. Home > Set Preferences > Analytics > set “Report by Period” to “All Reports”
D. Customizations > Centers and Tabs > KPI Scorecards
C. Home > Set Preferences > Analytics > set “Report by Period” to “All Reports”
Reporting by Accounting Period
When you enable the Accounting Periods feature and set up accounting periods, you have the option of organizing report data by fiscal period instead of by date range. This capability is especially important for financial statements. The use of accounting periods also enables you to filter and calculate KPI scorecard figures by fiscal period.
To set up your reports to be organized by period, set the Report by Period preference, at Home > Set Preferences > Analytics > Reporting section. You can choose to sort and filter all reports by period, or only financial reports like income statements and balance sheets. For more information, see Choosing a Date or Period Range for a Report.
Note
After the Report by Period preference has been set for a user’s reports, these reports cannot display results to the user until accounting periods for the entire fiscal year have been set up.
To set up a KPI scorecard’s data to be organized by period, check the Use Periods option on the scorecard record. For more information, see Defining KPI Scorecard Date Ranges or Periods and Period Ranges for KPI Scorecards.
In NetSuite OneWorld, if you use the Multiple Calendars feature, the subsidiary’s fiscal calendar determines the date ranges for the period selected for a report. For information about running reports for subsidiaries, see Running Reports for Subsidiaries with Different Accounting Periods.
KPIs are columns in the KPI score cards?
A. True
B. False
B. False, there are options:
From help:
Scorecard Data Display Options
Ability to orient KPIs horizontally or vertically
Ability to define custom labels in place of KPI names
Optional popup trend graphs
Ability to limit displayed data to your own or your team’s results.
How many KPI scorecards may be displayed on the home dashboard?
1
How many trend graphs can display on the home dashboard?
5
On a graph, How do I smooth out data from seasonal spikes? A. Show Average B. Show last data point C. Select the trend type D. Review the KPI field
A. Show Average
How many KPI Meter portlets can I add to a dashboard?
You can add up to three KPI Meter portlets to a dashboard. Each meter visually represents data for one KPI that is displayed in the dashboard’s Key Performance Indicators portlet.
This portlet displays a summary line for each critical business metric with clickable links that drill down into the underlying data source (eg. report). It only allows for a single date or period range comparison. A. Report Snapshots B. KPI Meters C. KPI Scorecard D. Key Performance Indicators
D. Key Performance Indicators
A. The focus is on a SINGLE snapshot report
B. Shows a graph for a single meter
C. Often used to show multiple date comparisons
If logged in with the administrator role can a user personalize and publish a dashboard for a custom role that belongs to the sales center?
A. True
B. False
B. False
Will published dashboard updates override user personalizations on specific user dashboards?
A. Yes
Which of the following statements about the audience and access sub tab on the more options tab in financial report builder are true?
A. Roles selected in the audience tab will be able to view the financial report regardless of role based permission granted.
B. Roles selected in the access tab will be able to view the financial report regardless of role based permission granted.
C. If a role and dept are selected in the Audience tab, the user needs to be assigned either the role or department to view the Financial Report.
D. If a role and dept are selected in the Access tab, the user needs to be assigned either the role or department to view the Financial Report.
B.
Notes:
“Audience” and “Access” tabs are very similar.
“Access” will override permissions on the role or user.
A user does need to belong both to the “role” and “department” to have access from either tab.
When configuring a custom KPI saved search, a date or period field needs to be included as an available filter to allow for comparison across different date/period ranges.
A. True
This report feature allows the user to preview results as a matrix style report with subtotals across both rows and columns. A> Standard Reports B> Saved Searches C> Financial Reports D> Pivot Report Beta
D. Pivot
HINT: the trigger here is the reference to subtotals for columns and ROWS.
REMINDER: Quickly scan/review suite answers for new and upcoming functionality. Could be a curve ball there.
Which report/search is configured to create a custom reminder? A. Standard Report B. Saved Search C. Financial Report D. Ad-Hoc Report
B. Saved Search
Do all standard reports allow the user to customize the drill down detail report?
A. Yes
B. No
B. No
Notes:
- Only summary reports can have drill downs.
- Ad Hoc Custom reports cannot have drill downs
- Summary reports can only have one drill down
- Drill down can only be on metrics being summarized - not on related entity fields like customer
What is the difference between the Financial Report Builder and Report Builder? A. Ability to Edit Layout B. Allow Web Query C. A and B D. None of the Above
C. A and B
Issue Which of the following are not customizable elements per the Edit Layout tab in the financial report builder of an income statement? A. Reference Row B. Header and Summary Rows C. Financial Section D. Formula E. Text Row
A. Reference row
Notes:
Trick question because reference rows are not available on income statements. They are used on other financial reports like balance sheets.
Ordered config tabs are: (1) edit layout (2) edit columns (where most formulas are defined)
(3) Sorting (optional)
(4) more options
When adding a formula field as a column per the edit columns tab in either the Financial Report Builder or Report Builder, are you able to use SQL formulas?
A. Yes
B. No
B. No
When and where can you use SQL formulas?
Quick Answers:
- In saved searches for: criteria, formulas in results and custom fields
- Through the SuiteAnalytics ODBC Connector
- NOT SUPPORTED IN REPORTS
(ds)
Research to create answer.
For advanced searches and saved searches, you can define formulas to be used in the following ways:
• As part of a custom field that is defined to use a formula to set its value. These custom fields are available to be used as search criteria or in results columns like any other custom field. See Using a Custom Formula Field in a Search.
For detailed information on how to define formulas in custom fields, see Creating Formula Fields.
• As part of search criteria. The results returned are based on the calculated value of the formula field. See Using a Formula in Search Criteria.
• As a results column field. The displayed values are based on the calculated value of the formula field. See Using a Formula in Search Results.
Formula values are dynamically calculated at the time a search is performed. Formula definitions can include NetSuite field IDs for which field values are substituted, SQL functions, and mathematical operators.
Note
Reports currently do not support the addition of fields calculated through more complex, customized expressions, for example those that use SQL functions. Searches do support the use of these types of formulas for results and criteria fields. See Formulas in Search.
To be able to view item hiearchy in the Revenue by Item standard report, which field would you use/add to as a column in the report?
C. Name Grouped
To display a saved search to a Custom Search portlet, which of the publishing options should be selected? [Hint: Assume that the assigned role has been granted audience and has the required permissions] A. Available As Dashboard View B. Public C. Available as List View D. None of the Above
D.
The normal content/permission restrictions for a portlet do not apply for the customer search portlet
Identify all customers with an overdue balance and their corresponding open invoices. Which Saved Search Type should you use to obtain the desired results most efficiently? A. Customer B. Transaction C. Invoice D. Company
Transaction
WRONG: A Customer. It could work but requires a lot of filtering on customer and linking down into transaction becomes awkward with number of fields to pull.
WRONG: C. Invoice. There is no search type called “Invoice”
WRONG: D Company. This is exclusionary and would still require filters because vendors or companies too. What about customers that are individuals.
Client would like to view purchases by item Summary by Accounting Period. Which type of report/search could be utilized to obtain results? A. Purchases by Item Summary Report B. Ad-Hoc Report (Metric=Purchases) C. Transaction saved search D. All of above E. B and C
ANSWER:E) B and C
*** FLAG Research why A is not an option… B seems difficult to implement well because not every transaction is a purchase
WRONG: D. All of above
WRONG: A. Purchases by Item Summary Report (THIS CAN BE CUSTOMIZED TO DO IT)
Which of the following shows the correct order of steps to create an ad-hoc matrix report?
A. Metric, Data, Format, Subtotal, Summarize
B. Metric, Data, Subtotal, Summarize, Format
C. Data, Metric, Format, Subtotal, Summarize
D. Data, Metric, Subtotal, Summarize, Format
C. Data, Metric, Format, Subtotal, Summarize
For multiple levels of nesting within nested expressions, precedence is granted to which of the following expressions? A. () B (()) C ((())) D (((())))
C.
WRONG: A
WRONG: D
Note: You can only go as far as three out
- Which of the following statements about highlighting conditions configured in a saved search are true?
A. Highlighting conditions are processed in the order entered
B. Highlighting conditions need to be entered in a logical fashion
C. NetSuite will intelligently process the highlighting conditions to deliver expected outcome
D. All of the above
E. A&B
E. and B
What is the best practice for granting audience for a given report/search? A. Employees B. Groups C. Roles D. Roles and Departments
C. Roles
Notes:
WRONG D Roles and departments
If the customer would like to track when a specific report/search was run and exported, which would be the best type of report/search to use in NetSuite? A. Standard Reports B. Standard Matrix Reports C. Saved Searches D. Financial Reports E. A and D
C. Saved Searches
Note:
when you edit a saved search, you have access to conduct an audit search
What order are these Subtabs/options in when editing saved search:
A. Roles B. Audience C. Available Filters D. Highlighting E. Results F. Criteria G. Available as Check Boxes
G. Available as Check Boxes F. Criteria E. Results D. Highlighting C. Available Filters B. Audience A. Roles
Navigate to Setup > Accounting > Accounting Preferences >_____________ to set the default inventory costing method with new items you create.
A. Order Management
B Items/Transactions
C. TIme & Expenses
D. Approval Routing
B Items/Transactions
Usnig average costing method. what is the cost of the following: Purchase 1: Qty 100; Cost $10 Purchase 2: Qty 150; Cost $12 Purchase 3; Qty 50; Cost $15 A. 11.83 B. 12.33 C. 12.50 D. 15.00
A. 11.83
Where do I enable group Average (Cost)ing?
Step One
Setup > Company > Enable Feature > Items and Inventory SubTab > find and check “group average cost”
Where do I setup Costing Groups?
To create a location costing group:
Go to Setup > Accounting > Setup Tasks > Location Costing Groups > New (Administrator).
** above nav may requires CFO or similar role
Definition of Costing Group:
If you have enabled the Multi-Location Inventory feature and the Group Average Costing feature, you can process account adjustments to ensure that item costs are consistent within costing groups so that location balance sheets are accurate for group average cost items.
Additional Info:
KNOW: Setup > Set Up Manager and finding location groups on left hand side did work for me.
Enter a Name for the group.
Optionally enter a Memo. Later, you can search for the text you enter here.
For NetSuite OneWorld accounts, in the Costing Group Currency field, select a currency to limit the subsidiaries available for the costing group. Locations are available to add to the costing group only if they are associated with a subsidiary that has the selected costing group currency as their base currency.
On the Location subtab, in the Select column, check the box next to each location you want to be a member of this group.
The location list on the location costing group record is filtered by your permission to access each location and subsidiary.
Click Save.
The location costing group you created now appears in the Costing Group field on item records.
Adding Locations to a Location Costing Group
A location can be assigned to a location costing group in two ways:
On the location record, select the appropriate location costing group.
On the location costing group record, select the location.
A location can be assigned to only one location costing group. Locations are not required to be assigned to a location costing group.
Note:
You select currency and then it shows you the locations (as options) that use that currency
______ get costs and sales price from the sum of the costs and sales prices of its component items.
A. Average Costing
B Groups
C. Locations
D. FIFO
B Group
When using the Lot Numbered costing method, items sold within the same lot are sold based on the \_\_\_\_\_\_\_\_ cost. A. Average B. Quantity C. FIFO D, Group Average
C. FIFO
Which costing method is prohibited under IFRS?
LIFO
Note:
Reasoning is that LIFO could be used to distort actual revenue during cost fluctuations in inventory
Which fields when modified will NOT trigger c0sting: A. Memo B. Date C. Class/Department D. Location E. Customer/Vendor F. Quantity/Rate/Amount G. Serial Numbers
A. Memo
C.Class/Department
E.Customer/Vendor
Arrange the following in the correct costing order: A. Standalone Credit Memo. 4:58 pm B. Customer Return Receipt 8:26 am C. Item Fulfillment (From SO) 2:10 pm D. Standalone Invoice. 10:45 am E. Item Receipt (from PO). 12:03 pm F. Standalone Vendor Bill. 9:05 am
F. Standalone Vendor Bill. 9:05 am E. Item Receipt (from PO). 12:03 pm D. Standalone Invoice. 10:45 am C. Item Fulfillment (From SO) 2:10 pm B. Customer Return Receipt 8:26 am A. Standalone Credit Memo. 4:58 pm
A pending cost accounting status means an item is flagged and calculation is currently running.
A. True
B> False
B. False.
“Processing” means the calculation is running.
You can close the “Period Close Checklist” task and review inventory Cost Accounting , while the inventory calculations are processing.
A. True
B. False
A. True
Note:
You can close the “Period Close Checklist” task and review inventory Cost Accounting but it will result in costing errors.
Differences between:
A. Adjust Inventory Form
B Adjust Inventor Worksheet
“A. Adjust Inventory Form” adjusts current stock levels (taking previous POs into account) while “B Adjust Inventor Worksheet” resets inventory fully and also resets (obliterates) previous FIFO and LIFO records.
When adjusting in the “adjust” inventory form, decreasing the quantity does not allow you to manually modify cost but you can modify cost manually when increasing the quantity. LIFO and FIFO is preserved.
A. True
B. False
A. True
Is the Standalone Return Authorization recommended? What are some factors to know about it related to cogs?
- Results in $0 cost for the item
2. You do not buy or sell from a dedicated return location, therefore there is no costing history
What are three costing reports?
Account Detail Report (click an account amount in the Trial Balance Report)
Planned Standard Costs by Cost Version Report (see Standard Costing Reporting)
Production Variances by Item Report (see Standard Costing Reporting)
Purchase Price Variances by Item Report (see Standard Costing Reporting)
Inventory Valuation: Summarizes the value of your inventory at a specific point in time.
Inventory Activity: Shows the activity associated with your inventory items.
Stock Ledger. Shows the activity of items over a period of time.
General ledger \_\_\_\_\_\_ adjustment lines are recorded on the next transaction that creates a positive inventory level from an underwater sale. A. COGS B. Inventory C. Invoice D. Credit Memo
A. COGS
Data reports can be better organized through ______
Classification
The ______ subtab on a customer record includes information related to that customers account with your company including credit card data, price
Financial
Netsuite does not allow you to create billing schedules that bill more than 100% of the invoice amount.
A. True
B. False
B. False
Note:
You can configure schedules to go over. example $ amount down followed by % billing.
On an individual sales order, where would you navigate to see the list of scheduled billing for a sales transaction?
A. History Subtab
B. Billing Subtab
C. Payments Subtab
B. Billing Subtab
When a check is _____, it sets the amount to zero but does not remove it from the system.
voided
Where do you enable payment features?
Set Up > Company > Enable Feature > Transactions > Find “Payment Processing”
Where do you go to transfer funds?
Financial > Banking >Transfer Funds
OR
Transaction > Bank > Transfer Funds
You can include expenses for different departments, class, locations and customers on a single credit card transaction and also include different items.
A. True
B. False
A. True
Where do you go to reconcile a credit card statement?
Financial > Banking > Reconcile Credit Card Statement
OR
Transaction > Bank > Reconcile Credit Card Statement
Where do you go to import online banking information?
Financial > Banking > Import Online Banking Data
OR
Transaction > Bank > Import Online Banking Data
What are two ways to access the redesigned reconciliation features?
Financial > Banking > Reconcile Bank Statement and then click the “reconcile account statement” link
OR
Financial > Banking > Reconcile Credit Card Statement and then click the “reconcile account statement”
Which reconciliation report is not available from the report menu? A. Reconciliation Detail Report B. Bank Register Report C. Reconciliation History Report D. Reconciliation Summary Report
C. Reconciliation History Report
Customer payments are typically posted to the ________ funds account rather than to a specific bank account to prevent a lag time amount shown on the books and the bank balance.
undeposited
Where do you navigate to setup budgets?
Financial > Lists > Set Up Budgets
OR
Transactions > Financial > Set Up Budgets
which three fields are mandatory when setting up budgets? A. Subsidiary B. Customer/Project C. Year D. Item E. Budget Category F. Department/Class/Location
A. Subsidiary
C. Year
E. Budget Category
Where do you download the import budget template file?
Financial > lists > Setup Budgets > Import and click on the link for the “budget template file”
In order to copy a budget and increase it by 7%, you have to export the budget, modify it in a spreadsheet and import it back in.
A. True
B. False
B. False
You want to budget 15k to an account for the entire year. What is the best function to use to evenly allocate this amount across the periods? A. Manual B. Import C. Copy Budget D. Distribute
D. Distribute
You want to budget the same amount each month for a given account. What is the best function to use when entering this information manual? A. Fill B. Manual C. Distribute D. Copy Budget
A. Fill
What is the difference between the “distribute” and “fill functions” in budgeting?
A. “Distribute” will divide an amount across periods
B. “Fill” will copy an amount in the first period to other periods
Where do I navigate to create budget categories?
Setup > Accounting Setup > Lists
OR
Setup > Setup Manager > Accounting Lists
Does NetSuite support elimination subsidiaries by default?
A. Yes
B. No
B. No
Note: You can enable the feature by going to Setup > Accounting > Accounting Preferences AND selecting “enable budget with elimination subsidiaries’
which of the following is incorrect when importing a budget using a CSV file?
A. Number must not contain the seperator (,) or the currency character ($)
B. The account name must exactly match the account name in the cart of accounts
C. If multiple budgets are enabled, category is mandatory
D. The account name can contain account numbers.
D. The account name can contain account numbers.
You can import external applications budget data as CSV files to create NetSuite budget records using the import \_\_\_\_\_\_\_\_\_\_\_ A. template B. feature C. wizard D. assistant
D. assistant
__ Distribute
__ Multiple Budgets
__ Categories
__ CSV
__ Fill
A. Potential outcomes
B. Copy an amount entered in the first month to all month for an account
C. What if scenarios
D. Evenly divide an amount entered in the first month to all months for an account
E. Required format for importing budgets into NetSuite
D_ Distribute C_ Multiple Budgets A_ Categories E_ CSV B_ Fill
Where do you create an expense allocation schedule?
Financial > Lists > Create Allocation Schedules
OR
Transactions > Financial > Create Allocation Schedules
Note: page had “Source” and “Destination” tabs used for mapping
Where do I enable expense allocation?
The allocation schedule record is available only when the Accounting Periods and Expense Allocation features are enabled. An administrator can enable these features at Setup > Company > Enable Features > Accounting subtab.
The ________ tab of the allocation schedule allows an amount to be allocated into one or several accounts.
Destination
Creating Expense Allocation Schedules
You create allocation schedules to manage the allocation of expenses after they are incurred. Allocation schedules distribute expenses across departments, locations, classes, and custom segments, saving you the time required to enter complex journal entries.
Important Your user role must have Edit or Full level of the Create Allocation Schedules permission to use Expense Allocation.
With Expense Allocation, you can allocate:
from one account or from multiple accounts
to specific department class or locations within expense accounts
from one account to multiple accounts
The Dynamic Allocation feature (Setup > Company > Setup Tasks > Enable Features > Accounting under Advanced Features) extends the existing fixed rate revenue and cost allocation capability. With fixed rate allocation, you must specify the fixed allocation weight for the entire life cycle of any allocation schedule. Dependent upon the Statistical Accounts feature (Setup > Company > Setup Tasks > Enable Features > Accounting under Advanced Features), Dynamic Allocation enables you to assign any statistical account to any Single or Intercompany Allocation Schedule. Statistical account assignment is useful in advanced costing such as Activity Based Costing and Usage Based Costing, and when you are running cost centers and profit centers. The weight for the allocation, based on the balance of that statistical account through statistical journals or as an absolute value, is dynamically calculated when the allocation journal is generated. To calculate statistical weight, NetSuite uses the flat amount for each destination line in the allocation schedule, rather than dividing by the total amount entered in all of the destination lines.
Note You can control the period of time that NetSuite uses to calculate the balance (weight timeline) by specifying the timeline end date through the Next Date field. This end date can be the date on which the schedule runs (system date), or a past or future date. When you select the weight basis (specific date, period to date, quarter to date, or year to date), your weight timeline is relative to the date you enter in the Next Date field. This is useful when you want an allocation schedule to calculate a statistical account balance for a period of time prior to or after the run date. For example, you want to run your allocation schedule on March 3, 2015 (system date) for the February previous period, February 1 through 28, 2015. You also specify the Next Date field as February 28, 2015 to synchronize the source and weight basis timeline to February 1 – 28, 2015. With the new synchronized weight enhancement, the source timeline, created journals, and the weight timeline are driven by the value in the Next Date field. For more information, see Working with Allocation Schedules Weighted by the Balance of a Statistical Account.
You need to differentiate floor covering income from income on your income statement report.
From add row/section, dropdown list, what would you select to add floorcovering income as a seperate line on the income statement? A) Add header and summary rows B) Add financial section C) Add formula row D) Add text row
B) Add financial section
Using the multiple calendar feature is mandatory for a oneworld account.
A. True
B. False
B. False
Note:
Enabling Multiple Calendars
The Multiple Calendars feature applies to accounting periods and tax periods. This feature is available only in NetSuite OneWorld and is not enabled by default. The Multiple Calendars feature determines the rollup structure for tax periods. For more information, see Setting Up Tax Periods Using a Fiscal Calendar.
When the Multiple Calendars feature is enabled, you can filter accounting and tax period searches by fiscal calendar.
Before you enable Multiple Calendars, if you have any open, standalone adjustment periods you must change them to overlap existing non-adjustment periods. For more information, see Adjustment Periods.
Review the guidelines below to determine whether you should make changes to other standalone adjustment periods:
future adjustment periods - recommended
open adjustment periods - required
historical, closed adjustment periods - optional
You can disable this feature only if you have not assigned any new fiscal calendars to subsidiaries.
To enable the Multiple Calendars feature:
Go to Setup > Company > Setup Tasks > Enable Features (Administrator).
On the Accounting subtab, under Advanced Features, check Multiple Calendars.
Click Save.
If I setup three calendars in my acccount, I have to close them separately.
A. True
B. False
B. False
Setting Up Tax Periods Using a Fiscal Calendar
You can set up tax periods using a fiscal calendar if you have the Multiple Calendars feature enabled.
Several subsidiaries can share one fiscal calendar. For more information, see Fiscal Calendars.
Warning After enabling Multiple Calendars, this feature can only be disabled if you have not yet assigned a new fiscal calendar to a subsidiary. If you have already created a new fiscal calendar and assigned it to a subsidiary, you can no longer disable Multiple Calendars.
If the Multiple Calendars feature is enabled in your account, you can do the following:
Set up different fiscal calendar definitions on the same subsidiary for accounting and tax calendars
Define a tax year for a subsidiary, independently of other subsidiaries.
The Multiple Calendars feature can be enabled in OneWorld accounts only. A fiscal calendar determines the start date for an accounting year or tax year, and rolls up the accounting periods and tax periods.
Enabling Multiple Calendars
The Multiple Calendars feature applies to accounting periods and tax periods. This feature is available only in NetSuite OneWorld and is not enabled by default. The Multiple Calendars feature determines the rollup structure for tax periods. For more information, see Setting Up Tax Periods Using a Fiscal Calendar.
When the Multiple Calendars feature is enabled, you can filter accounting and tax period searches by fiscal calendar.
Before you enable Multiple Calendars, if you have any open, standalone adjustment periods you must change them to overlap existing non-adjustment periods. For more information, see Adjustment Periods.
Review the guidelines below to determine whether you should make changes to other standalone adjustment periods:
future adjustment periods - recommended
open adjustment periods - required
historical, closed adjustment periods - optional
You can disable this feature only if you have not assigned any new fiscal calendars to subsidiaries.
To enable the Multiple Calendars feature:
Go to Setup > Company > Setup Tasks > Enable Features.
On the Accounting subtab, under Advanced Features, check Multiple Calendars.
Click Save.
What is a path to generate A/R statements?
Customers > Accounts Receivable > Generate Statements
When reopening a closed period, the ______ field is mandatory.
notes
maximum # of trend graphs
5
On graphs, How do I smooth out data from seasonal spikes? A. Show moving average B. Show last data point C. Include zero on Y-axis D> Hide last date point
A. Show moving average
What are Campaign Subscription Categories and where do i create new ones?
The Campaign Subscription Categories feature enables entities with whom you communicate through bulk email to choose which types of campaign communication they want to receive.
When you enable this feature, you can create unique campaign subscription categories in addition to the following default subscription categories:
Billing Communication
Marketing
Newsletters
Product Updates
Product Updates
When recipients log in to the Campaign Subscription Center, they can choose which subscriptions they want.
With this feature, the Subscription field on campaign events is mandatory. You can associate subscriptions with marketing and email templates. When you select a template on a campaign or in an email merge, NetSuite sets this subscription category, by default. Email is sent only to the recipient group members with the subscription set on the event.
The Subscription subtab on customer, contact, partner, vendor, and employee records shows the subscription status for each subscription category.
To create a new subscription category:
Go to Setup > Marketing > Setup Tasks > Campaign Subscriptions (Administrator).
Enter the name of this subscription category and a description.
Check the Subscribed by Default box if you want new and existing records to be subscribed to this campaign subscription.
Entities must manually subscribe to subscriptions that they are unsubscribed to.
In the External Name field, enter the name of this subscription category as you want it to appear in the Campaign Subscription Center.
In the External Description field, enter the description of this category that you want to show in the Campaign Subscription Center.
Click Save.
What is the global subscription status and where do I make Mass Updates to it?
Lists > Mass Update > Mass Updates
Mass Updates of Global Subscription Status
You can use the Global Subscription Status field to help manage marketing email campaigns. This field, which has replaced the formerly used Unsubscribe field, is available for mass updates on Company, Contact, Customer (including Leads and Prospects), Partner, and Vendor records. Be aware that mass updates can only set the value of this field to Soft Opt-In or Soft Opt-Out. Only users themselves can change their status to Confirmed Opt-In or Confirmed Opt-Out. The following mass updates are permitted:
If Current Status Is:
Mass Update Can Set Status to:
Confirmed Opt-In
Soft Opt-In or Soft Opt-Out
Soft Opt-In
Soft Opt-Out
Soft Opt-Out
Soft Opt-In
Confirmed Opt-Out
(NO MASS UPDATE AVAILABLE)
For more information on global subscription statuses, see Subscription Management.
Expand General Updates, then click Company, Customer, Partner, or Vendor.
Set criteria for the users you want to update.
On the Mass Update Fields subtab, check the Global Subscription Status box.
Select the status you want to set: Soft Opt-In or Soft Opt-Out
All records that match the criteria you have set and that are permitted to be changed through mass updates will be set to the selected status.
Click Save.
You have to use the same domain for the email campaign and promotional URL
A. True
B. False
B. False
For marketing automation, you must set upnew values in each list under Setup > Marketing > Campaign Management
A. True
B. False
B. False.
New values for lists in campaign marketing are optional.
You cannot modify the footer on the unsubscribe email page
A. True
B. False
B. False
Purchased keywords are setup with the search engines you are purchasing from.
A. True
B. False
A. True
Which NS feature helps with product affinity analysis?
The Upsell Manager
The Upsell Manager enables you to maximize your sales and marketing efforts by determining which items present a good upsell opportunity and which customers you should target. This process is also known as product affinity analysis.
The Upsell Manager searches your customer transaction histories to recommend possible upsell items and categories of items. These upsell items and item categories are chosen based on their correlation. Correlation is a measure of how often two items are purchased by the same customer.
I use NetSuite to create my HTML Files
A. True
B. False
B. False
Note
You upload HTML file to NetSuite but create them with 3rd party tools
Where do you enable sales force automation features?
Setup > Company > Enable Features > CRM
Which of the following are basic features enabled the under the CRM tab in setup > Company > Enable features ? A. Customer Relationship Management B. Sales Force Automation C. Marketing Automation D. Email Campaigns
A
B
C
What are the three high level approaches to setting up salesperson structures?
Employee, Team and Group
Three ways to add employees to a sales team
- with a search
- Add Static Members Individually from drop down: by employee manually
- Add Static Members in multiples from popup: manual
where do you setup sales teams (assume team selling is not turned on)
Setting Up a Sales Team
Important The following information is applicable only to users who are not using the Team Selling feature. Accounts with Team Selling enabled should see Setting Up Team Selling.
Sales teams in NetSuite are usually made up of a manager and all of their subordinate sales reps. For each sales rep on your team, you must mark their employee record as a Sales Rep and assign them to a (sales) manager.
Note Only users with roles that have full access to employees can set up sales teams.
To set up a sales team:
Go to Lists > Employees > Employees.
Click Edit next to the name of an employee you want to include in your sales team.
Under Primary Information, in the Supervisor field, select the employee’s supervisor.
Click the Human Resources subtab.
Under Job Information, check the Sales Rep box.
Click Save.
Repeat these steps for each employee included on your sales team.
You can also create team quotas for your sales teams. Team quotas total the sales made by all subordinate sales reps and their supervisor when you determine if the quota was reached.
If you use the Commissions feature, you can create manager commission schedules based on a manager’s team quota. When you assign a manager a commission schedule based on quota, there must be an established team quota for the manager. For more information on quotas, see Establishing a Quota.
What are two reason why the sales group feature would be unavailable?
1, If team selling in enabled, sales group feature is not available
2. Sale Force Automation is not enabled
What would be a big factor in using sales teams over sales groups?
A. Ability to do percentage allocation for the team members.
B. Ability to add members through search
C. Both
A. Ability to do percentage allocation for the team members.
Sales Roles must be created when using team selling.
A. True
B. False
A. True
Note:
Sales Roles are setup in CRM lists.DIFFERENT FROM NORMAL USER Roles.
When you setup a sales team record, you can only assign users who have sales roles assigned.
I believe one sales role is created when the feature is enabled
You must setup additional territories, in addition to the round robin
A. True
B. False
B. False
A path to get to sales quotas:
To establish quotas:
Go to Transactions > Quota/Forecast > Establish Quotas.
OR (if you are a sales manager:
Sales Center: Establish Quotas Forecast>Setup > Establish Quotas
What is different about setting up team quotas from individual quotas?
Select the Sale Manager
AND
Check the team quota check box
Sales campaigns can be sent to ALL customers, even those that I cannot view or edit
A. True
B. False
B. False
Note:
Sales campaigns can only be sent to the customers, contacts and other records that the sales reps role gives them permission to view or edit.
View a list of sales campaigns in customers > marketing > sales campaigns
A. True
B. False
A. True
A sales rep has gone into the sales rep forecast editor for the current month and noticed that the calculated forecasts do not match his expectations.
What actions can he take to update the forecast? Select two options.
A. run a forecast by sales rep report
B. Enter a value in the override section of each forecast type
C. change the start date on the Sales Rep Forecast editor
D> Update any opportunities and/or quotes that have been set to omitted, but should be set to a different forecast type.
B and D
What criteria are used to include opportunities in a forecast? Select 3. A. Forecast Type B. Forecast Amount C. Probability D. Expected Close Date E. Sales Rep Assigned F. Items
A, C, D.
Will an opportunity converted to a sales order be included in a Sales Forecast?
A. True
B. False
B. False
Identify which attributes pertain to these two different portlets:
A. KPI Score Card
B. Key Performance Indicator
- ____ Displays a configurable number of columns to show business data
- ____ Lists individual metrics (each with a fixed date comparison) vertically
- _____ Designed to show date variances vertically
- ____ Will display current, previous and change for each metric
- ____ Supports custom formulas which are displayed horizontally
- ____ Integrates with KPI Meter
- _A__ Displays a configurable number of columns to show business data
- _B__ Lists individual metrics (each with a fixed date comparison) vertically
- _A___ Designed to show date variances vertically
- _B__ Will display current, previous and change for each metric
- _A__ Supports custom formulas which are displayed horizontally
- _B__ Integrates with KPI Meter
(ds: study card)
Where do you setup sales teams (assume team selling is turned on).
Setup > Sales > Sales Teams
