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Sage 300 Accounts Receivable > Module#1: Getting Started with Sage 300 Accounts Receivable > Flashcards

Module#1: Getting Started with Sage 300 Accounts Receivable Flashcards

1
Q

True or False

Before you can activate Accounts Receivable, you must first activate Tax Services and Bank Services in that order.

A: True
B: False

A

A: True

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2
Q

The _______ Services allows for the integration between the General Ledger and other modules and services.

A: G/L Subledger
B: A/P Subledger
C: A/R Subledger

A

A: G/L Subledger

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3
Q

What is the A/R Module used for? (Select All that Apply)

A: Maintain funds owed to your company
B: Process Transactions such as Sales, Adjustments, Refunds and Receipts
C: To pay for Services used by the Company
D: To Process Transactions such as Purchases
E: All

A

A: Maintain funds owed to your company
B: Process Transactions such as Sales, Adjustments, Refunds and Receipts

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4
Q

The System Manager consists of which of the following components? Select all that apply.

A: Bank Services
B: Common Services
C: Accounts Payable Services
D: Administrative Services

A

B: Common Services
D: Administrative Services

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5
Q

Before you can activate Accounts Receivable, you must activate _________ first and then __________

A: Bank Services, Tax Services
B: Tax Services, Bank Services
C: A/R Services, Tax Services
D: A/R Services, Bank Services
 .
A

B: Tax Services, Bank Services

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6
Q

True or False:

Accounts Receivable module is used to maintain the funds owed to your company for goods and services that you provided to your customers or clients.

A: True
B: False

A

A: True

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7
Q

The Accounts Receivable module allows you to:

A: maintain customer information
B: enter receivable transactions
C: print various reports to help you keep track of your receivables.
D: All

A

D: All

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8
Q

in the company tab The address Information cannot be edited

A: True
B: False

A

A: True

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9
Q

If you wish to automatically invoice customers on a regular basis check the process _______ box

A: Recurring Invoices
B: Recurring Charges
C: Recurring Payments

A

B: Recurring Charges

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10
Q

Contact information specifically for Accounts Receivable can be entered in the __________, __________ and __________ Boxes

A: Contact Name, Telephone, Fax Number
B: Vendor Name, Telephone, Fax
C: Customer Name, Telephone, Email

A

A: Contact Name, Telephone, Fax Number

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11
Q

It is a bidea to force the printing of all batches before they are posted, as it gives you an opportunity to check for errors.

A: True
B: False

A

A: True

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12
Q

In order to drill down from the General Ledger to the original transactions in the Accounts Receivable module, you must check the _________

A: Keep Payment Box
B: Keep Statistics box.
C: Keep Invoice Box

A

B: Keep Statistics box.

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13
Q

You can define how statistics are maintained for Items and Salespersons in the _______ and the _______ section respectively

A: Item Statistics section, Salesperson Statistics
B: A/P Statistics, General Ledger Statistics
C: A/RStatistics, General Ledger Statistics

A

A: Item Statistics section, Salesperson Statistics

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14
Q

If you want to allow the system to calculate taxes automatically for summary invoices check the Calculate Tax Amounts Automatically box. This is the default.

A: True
B: False

A

A: True

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15
Q

On the Numbering tab Document Numbers table, you can specify What options to assign to dfferent types of documents starting with the number you specify (Select all that Apply)

A: Length
B: Prefix
C: Next number 
D: Length
E: Time
F: All
A

A: Length
B: Prefix
C: Next number

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16
Q

You can change the defaults, subject to the following conditions, the length can be up to ______ characters,

A: 20
B: 21
C: 22

A

C: 22

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17
Q

the prefix can be up to ____ letters long and must be unique for each type of document.

A: 5
B: 6
C: 7
D: 8

A

B: 6

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18
Q

In the Next Batch and Posting Sequence Numbers table at the bottom of the form you can specify the ________ Number and or the next posting _______ number to be used for various document types by entering them directly in the table.

A: Past Batch, Sequence
B: Next Batch, Sequence
C: Both

A

B: Next Batch, Sequence

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19
Q

What periods are defined on the Statement tab.

A: Aging
B: Post
C: Added

A

A: Aging

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20
Q

True or False:

You can’t change the length of the aging period as well as the message

A: True
B: False

A

B: False, you can change the length

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21
Q

True or False:

You can change the default days in the From and To columns in the Aging Periods table.

A: True
B: False

A

A: True

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22
Q

If you want to print customer statements that display a zero balance, check the _______ Balance Statements box.

A: Print Nothing
B: Print Opposite
C: Print Zero

A

C: Print Zero

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23
Q

You can select to age unapplied credit and debit notes, and also age receipts, unapplied cash, and unapplied prepayments either As Current or By Date. When you select By Date, the document date is used.

A: True
B: False

A

A: True

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24
Q

What are Account Sets Form?

A: lets you create groups of General Ledger account numbers.
B: Let’s you create groups of A/R ledger account numbers
C: lets you create groups of A/P account numbers.

A

A: lets you create groups of General Ledger account numbers.

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25
Q

You must create at least one account set before you can add customer records.

A: True
B: False

A

A: True

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26
Q

What are Billing Cycles?

A: time intervals used for Sales purposes
B: time intervals used for processing purposes
C: time intervals used for Accountss Receivable purposes

A

B: time intervals used for processing purposes

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27
Q

What are distribution Codes used for?

A: identify the A/R Ledger account numbers to use when sales transactions are posted.
B: identify the A/P account numbers to use when sales transactions are posted.
C: identify the General Ledger account numbers to use when sales transactions are posted.

A

C: identify the General Ledger account numbers to use when sales transactions are

28
Q

If distribution codes are not used, you must enter General Ledger accounts manually when creating a customer invoice or adjustment.

A: True
B: False

A

A: True

29
Q

The Dunning Messages form enables you to add any number of sets of messages to print on statements to customers. You can specify which message, in a set, to use for each aging period.

A: True
B: False

A

A: True

30
Q

Payment codes are used to ________

A: Pay off Old debts
B: Find New Ledgers
C: Specify the payment methods

A

C: Specify the payment methods

31
Q

In the Salespersons form you can identify salespersons by _____________ on transactions and reports,

A: name or employee number
B: phone number or email address
C: all

A

A: name or employee number

32
Q

True or False:

Creating a Salespersons for your company is mandator

A: True
B: False

A

B: False

33
Q

The Terms form is used to define the terms by which to calculate due dates and discount dates of transactions for your customers.

A: True
B: False

A

A: True

34
Q

You must add at least ________ terms code before you can add customer groups and records

A: 1
B: 2
C: 3

A

A: 1

35
Q

What does the item Form enable you to do?

A: Create a List of Items you need
B: Create a List of Items you have
C: Create a List of items you Sell

A

C: Create a List of items you Sell

36
Q

What is VAT?

A: Value Added Text
B: Value Added Tax
C: Value Added Term

A

B: Value Added Tax

37
Q

Define what Item Cost means

A: The cost of the item based on the unit of measure.
B: The selling price of the item for the unit of measure
C: The amount which is used to calculate taxes for a Tax Authority that levies tax on a different amount than the price or cost. This is defined on the Tax Authorities form

A

A: The cost of the item based on the unit of measure.

38
Q

Define what Item Price means

A: The cost of the item based on the unit of measure.
B: The selling price of the item for the unit of measure
C: The amount which is used to calculate taxes for a Tax Authority that levies tax on a different amount than the price or cost. This is defined on the Tax Authorities form

A

B: The selling price of the item for the unit of measure

39
Q

Define what Alternate Tax Base means

A: The cost of the item based on the unit of measure.
B: The selling price of the item for the unit of measure
C: The amount which is used to calculate taxes for a Tax Authority that levies tax on a different amount than the price or cost. This is defined on the Tax Authorities form

A

C: The amount which is used to calculate taxes for a Tax Authority that levies tax on a different amount than the price or cost. This is defined on the Tax Authorities form

40
Q

True or False

Sage 300 Does not come with a default message for each message type

A: True
B: False

A

B: False

41
Q

The G/L Integration form enables you to determine how Accounts Receivable produces and maintains information from posted transactions for General Ledger accounts.

A: True
B: False

A

A: True

42
Q

True or False:

Distribution codes are used to identify the General Ledger account numbers to use when sales transactions are posted.

A: True
B: False

A

A: True

43
Q

The annual interest rate charged on overdue accounts is entered on the A/R _______ form.

A: Terms
B: Interest Profiles
C: Options

A

B: Interest Profiles

44
Q

ou can view all the credit cards available for your company by opening the _______ folder

A: Bank
B: Bank Setup
C: Bank Transcations

A

B: Bank Setup

45
Q

You should not use the General Ledger to enter transactions that affect bank accounts directly.

A: True
B: False

A

A: True

46
Q

For each tax authority you created, you must define the different type of tax classes for sales and purchases. Tax classes for sales are required for the Accounts Receivable module, and tax classes for purchases are required for the Accounts Payable module.

A: True
B: False

A

A: True

47
Q

Credit cards that will be used in Accounts Receivable must be added in ________

A: Bank Services
B: Tax Services
C: Both

A

A: Bank Services

48
Q

Where do you Sepcify when G/L Transactions are Created?

A: On the A/R Options Form
B: On the A/R G/L Integration Form
C: On the A/R Comment Types Form
D: on the A/R Terms Form

A

B: On the A/R G/L Integration Form

49
Q

_____________ are codes that link a customer to a specific set of General Ledger Accounts

A: Distribution Codes
B: Dunning Messages
C: Payment Codes
D: Account Sets

A

D: Account Sets

50
Q

Which of the Following Tasks cannot be done using the A/R module

A: Maintain Vendor info
B: Maintain Customer Info
C: Maintain the funds owed to your company
D: Print Reports

A

A: Maintain Vendor info

51
Q

Credit cards are added in A/R and A/P

A: True
B: False

A

B: False

52
Q

Which of the following is an example of a payment Code?

A: Cash
B: Visa
C: Check
D: all

A

D: All

53
Q

Common Services is used for activating data, checking data integrity, maintaining user information and dumping and loading databases

A: True
B: False

A

B: False

54
Q

Accounts Receivable module does not allow you to

A: Print Various reports to help you keep track of your receivables
B: Maintain Vendor Information
C: Enter Receivable transactions
D: Maintain Customer Information

A

B: Maintain Vendor Information

55
Q

Define Account Sets

A: used to define the terms by which to calculate due dates and discount dates of transactions for your customers
B: enables you to add any number of sets of messages to print on statements to customers. You can specify which message
C: enable the Accounts Receivable module to know which General Ledger accounts should be debited or credited
D: are used to specify the payment methods, such as cash, check, or Visa, accepted by your company from your customers.
E: time intervals used for processing purposes
F: If you are not using the Inventory Control and Order Entry modules, you can use the Accounts Receivable module to setup a price list of These
G: used to identify the General Ledger account numbers to use when sales transactions are posted.
H: You must create these for each way that your company charges interest on overdue accounts
A

C: enable the Accounts Receivable module to know which General Ledger accounts should be debited or credited

56
Q

Define Billing Cycle

A: used to define the terms by which to calculate due dates and discount dates of transactions for your customers
B: enables you to add any number of sets of messages to print on statements to customers. You can specify which message
C: enable the Accounts Receivable module to know which General Ledger accounts should be debited or credited
D: are used to specify the payment methods, such as cash, check, or Visa, accepted by your company from your customers.
E: Time intervals used for processing purposes
F: If you are not using the Inventory Control and Order Entry modules, you can use the Accounts Receivable module to setup a price list of These
G: used to identify the General Ledger account numbers to use when sales transactions are posted.
H: You must create these for each way that your company charges interest on overdue accounts
A

E: Time intervals used for processing purposes

57
Q

Define Distribution Codes

A: used to define the terms by which to calculate due dates and discount dates of transactions for your customers
B: enables you to add any number of sets of messages to print on statements to customers. You can specify which message
C: enable the Accounts Receivable module to know which General Ledger accounts should be debited or credited
D: are used to specify the payment methods, such as cash, check, or Visa, accepted by your company from your customers.
E: Time intervals used for processing purposes
F: If you are not using the Inventory Control and Order Entry modules, you can use the Accounts Receivable module to setup a price list of These
G: used to identify the General Ledger account numbers to use when sales transactions are posted.
H: You must create these for each way that your company charges interest on overdue accounts
A

G: used to identify the General Ledger account numbers to use when sales transactions are posted.

58
Q

Define Dunning Messages

A: used to define the terms by which to calculate due dates and discount dates of transactions for your customers
B: enables you to add any number of sets of messages to print on statements to customers. You can specify which message
C: enable the Accounts Receivable module to know which General Ledger accounts should be debited or credited
D: are used to specify the payment methods, such as cash, check, or Visa, accepted by your company from your customers.
E: Time intervals used for processing purposes
F: If you are not using the Inventory Control and Order Entry modules, you can use the Accounts Receivable module to setup a price list of These
G: used to identify the General Ledger account numbers to use when sales transactions are posted.
H: You must create these for each way that your company charges interest on overdue accounts
A

D: are used to specify the payment methods, such as cash, check, or Visa, accepted by your company from your customers.

59
Q

Define Interest Profiles

A: used to define the terms by which to calculate due dates and discount dates of transactions for your customers
B: enables you to add any number of sets of messages to print on statements to customers. You can specify which message
C: enable the Accounts Receivable module to know which General Ledger accounts should be debited or credited
D: are used to specify the payment methods, such as cash, check, or Visa, accepted by your company from your customers.
E: Time intervals used for processing purposes
F: If you are not using the Inventory Control and Order Entry modules, you can use the Accounts Receivable module to setup a price list of These
G: used to identify the General Ledger account numbers to use when sales transactions are posted.
H: You must create these for each way that your company charges interest on overdue accounts
A

H: You must create these for each way that your company charges interest on overdue accounts

60
Q

Define Payment Codes

A: used to define the terms by which to calculate due dates and discount dates of transactions for your customers
B: enables you to add any number of sets of messages to print on statements to customers. You can specify which message
C: enable the Accounts Receivable module to know which General Ledger accounts should be debited or credited
D: are used to specify the payment methods, such as cash, check, or Visa, accepted by your company from your customers.
E: Time intervals used for processing purposes
F: If you are not using the Inventory Control and Order Entry modules, you can use the Accounts Receivable module to setup a price list of These
G: used to identify the General Ledger account numbers to use when sales transactions are posted.
H: You must create these for each way that your company charges interest on overdue accounts
A

D: are used to specify the payment methods, such as cash, check, or Visa, accepted by your company from your customers.

61
Q

Define Terms

A: used to define the terms by which to calculate due dates and discount dates of transactions for your customers
B: enables you to add any number of sets of messages to print on statements to customers. You can specify which message
C: enable the Accounts Receivable module to know which General Ledger accounts should be debited or credited
D: are used to specify the payment methods, such as cash, check, or Visa, accepted by your company from your customers.
E: Time intervals used for processing purposes
F: If you are not using the Inventory Control and Order Entry modules, you can use the Accounts Receivable module to setup a price list of These
G: used to identify the General Ledger account numbers to use when sales transactions are posted.
H: You must create these for each way that your company charges interest on overdue accounts
A

A: used to define the terms by which to calculate due dates and discount dates of transactions for your customers

62
Q

Define Items

A: used to define the terms by which to calculate due dates and discount dates of transactions for your customers
B: enables you to add any number of sets of messages to print on statements to customers. You can specify which message
C: enable the Accounts Receivable module to know which General Ledger accounts should be debited or credited
D: are used to specify the payment methods, such as cash, check, or Visa, accepted by your company from your customers.
E: Time intervals used for processing purposes
F: If you are not using the Inventory Control and Order Entry modules, you can use the Accounts Receivable module to setup a price list of These
G: used to identify the General Ledger account numbers to use when sales transactions are posted.
H: You must create these for each way that your company charges interest on overdue accounts
A

F: If you are not using the Inventory Control and Order Entry modules, you can use the Accounts Receivable module to setup a price list of These

63
Q

In the Create G/L Transactions box, you can select from two options as to when to create and send batches to the General ledger, What are they?

A: During Posting, On Request Using the Create G/L Batch
B: Creating a New Batch, Consolidate
C: On Request using the Create G/L Batch, When Posted
D: During Bank Reconciliation, During Posting

A

A: During Posting, On Request Using the Create G/L Batch

64
Q

You can view all the credit cards available for your company by opening the A/R Options Folder and then selecting Credit Card Types to open the Bank Credit Card Types form.

A: True
B: False

A

B: False, You open the Bank Setup Folder

65
Q

You should not use the General Ledger to enter transactions that affect bank accounts

A: True
B: False

A

A: True

Sage 300 Accounts Receivable (4 decks)

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