Module#2: Using the Accounts Receivable Module Flashcards
Before you can begin adding customers to Accounts Receivable, you must first add a customer group, Every Customer must be assigned to a customer group
A: True
B: False
A: True
The _________ tab is where information about your customer groups is collected. It becomes available after the customer group has been added.
A: Group
B: Credit
C: Invoicing
D: Statistics
D: Statistics
The number you give your customer can be an alphanumeric code up to ________ characters long
A: 12
B: 10
C: 13
A: 12
True or False
Once you have entered and saved a customer record, the customer number can be changed.
A: True
B: False
B: False
The Ship-To Location form consists of _____ tabs:
A: 1
B: 2
C: 3
C: 3
there are two types of customer group reports available, what are they?
A: Customer Group List, Customer Group Statistics
B: Overall Group listings, Overall Group Statistics
C: Payable Groups, Payable Statistics
A: Customer Group List, Customer Group Statistics
Select Customer _________, to list sales and receipt history.
A: Period Statistics
B: Activity Statistics
C: Comments
B: Activity Statistics
Select Customer _________, to display statistics for all transactions
A: Period Statistics
B: Activity Statistics
C: Comments
A: Period Statistics
Select Customer _________, to list comments about customers.
A: Period Statistics
B: Activity Statistics
C: Comments
C: Comments
Before you can add a customer you must add a
A: Tax Group
B: Customer Group
C: Ship to Location
B: Customer Group
On the _________ tab on the A/R Customers form, you can view transaction statistics for the customer.
A: Activity
B: Contact
C: Statistics
C: Statistics
True or False:
If you need to ship goods to your customer to an address other than their billing address you must add a ship-to location for that customer.
A: True
B: False
A: True
When Account Receivable invoice transactions are posted they will credit the General Ledger account specified and debit the Account Receivable control account.
A: True
B: False
A: True
Why is the General Ledger Accounts Receivable called a control account?
A: Because it controls all the ledgers
B: Because it controls the A/R Subledger
C: Because you can’t access any other ledgers without it
B: Because it controls the A/R Subledger
True or False
Historical individual customer invoices must be entered in the Accounts Receivable subledger but they don’t need to be totaling the same amount.
A: True
B: False
B: False, they do need to total the same amount
The default date entered in the Batch Date box is the _______ Date
A: Fiscal
B: Session
C: Months End
B: Session
Select _______ to enter the items sold to your customers and update the Accounts Receivable, Revenue, Inventory, and Cost of Goods Sold accounts.
A: Item
B: Summary
C: Revenue
A: Item
Select _______ if you just want to update your Accounts Receivable records.
A: Item
B: Summary
C: Revenue
B: Summary
All invoices, including opening balances are entered in the Accounts Receivable module via batches using Which Form?
A: Invoice Data Form
B: Add Entry Form
C: Invoice Entry form.
C: Invoice Entry form
What will posting a batch do?
A: Update Customer Records, Transactions and Stats B: Create a Batch in the G/L C: Close out all remaining batches D: All E: A and B F: B and C G; A and C
E: A and B
General Ledger batches can be posted using the G/L Batch List form or the G/L Post Batches form in the General Ledger module
A: True
B: False
A: True
Debit notes are transactions that increase the customer accounts receivable balance, while credit notes decrease the customer accounts receivable balance
A: True
B: False
A: True
_______ charges are charges made to your customers on a regular basis.
A: Continuous
B: Never Ending
C: Recurring
C: Recurring
recurring charges must be assigned to a schedule in what services?
A: Common
B: Administrative
C: Either one
A: Common
True or False:
Since the Accounts Receivable amount is already in the Account Receivable General Ledger account, the Accounts Receivable opening balances should not be posted to the General Ledger.
A: True
B: False
A: True
Select the type of document that can be created in the Invoice Entry form. (Select all that apply)
A: Debit Note
B: Interest
C: Invoice
D: Adjustment
A: Debit Note
B: Interest
C: Invoice
The Create Recurring Charge Batch command is found in the A/R ________ folder.
A: Setup
B: Transactions
C: Periodic Processing
C: Periodic Processing
Debit notes are transactions that _________ the customer accounts receivable balance, while credit notes __________ the customer accounts receivable balance.
A: Increase, Decrease
B: Decrease, Increase
C: Increase, Maintain
D: Decrease, Maintain
A: Increase, Decrease
Which of the Following is not a type of document that can be created in the invoice Entry Form?
A: Invoice
B: Debit Note
C: Interest
D: Write-off
D: Write-off
What must you add before you can add a customer?
A: Tax Group
B: Customer Group
C: Ship to Location
D: A Batch
B: Customer Group
Why are Accounts Receivable opening balances not posted to the General Ledger
A: You are not able to post to the General Ledger
B: The A/R amount is already in the A/R General Ledger Account
C: A/R is a control Account
D: Opening balances are not entered
B: The A/R amount is already in the A/R General Ledger Account
Posting A/R batches in the General Ledger will update the corresponding accounts
A: Customer
B: A/R
C: General Ledger
D: A/P
C: General Ledger
Before you can begin adding customers to Accounts Receivable, you must first add __________
A: You don’t need to add anything before adding customers
B: An invoice
C: An Inventory List
D: A Customer Group
D: A Customer Group
Which of the following is not true about Ship-To Locations
A: If you need to ship goods to your customer to an address other than their billing address, you must create a ship-to location for that customer
B: It is not possible to select a ship-to location for that customer
C: You can set up more than one ship-to location
D: To setup a ship-to location, select ship-to locations in the customer folder
B: It is not possible to select a ship-to location for that customer
To view all the data about your customer open the ________ form.
A: Receipt Inquiry
B: Customer List
C: Customer Inquiry
D: Refund Inquiry
C: Customer Inquiry
In which of the following is not a type of report you can print form the customer reports folder?
A: Customers Transaction Report
B: Customer Group Report
C: Customer Information Report
D: Ship-To Locations Report
C: Customer Information Report
There are two types of Customer Group reports available. Customer Group List to produce a list of all your company’s customer groups along with detailed information about each group. Customer Group Statistics to create a report that contains statistics about each group for the selected years or periods.
A: True
B: False
A: True
If entries were made to the General Ledger Accounts Receivable account directly, the General Ledger Accounts Receivable account and the Accounts Receivable subledger would Balance
A: True
B: False
B: False
Which would you enter in the box beside the entry number box on the A/R Invoice Entry Form if you wanted to just update your Accounts Receivable records
A: Amount
B: Item
C: Summarize
D: Summary
D: Summary
The A/R Invoice Entry is used to:
A: enter invoice batches
B: enter document information
C: define how taxes on the invoice are calculated
D: specify the terms for the invoice
E: display the salesperson assigned to the customer
F: and view totals
G: All
G: All
When the Calculate Tax box is _______, On the A/R Invoice Entry Form, you can change the customer tax class in the Table. Click __________ if you changed the tax classes and need to recalculate the taxes; Click _______ to prorate the taxes and allocate them to the detail lines
A: Cleared, Calculate Taxes, Distribute Taxes
B: Cleared, Distribute Taxes, Calculate Taxes
C: Checked, Calculate Taxes, Distribute Taxes
D: Checked, Distribute Taxes, Calculate Taxes
A: Cleared, Calculate Taxes, Distribute Taxes
Which of the following statements about suing Quick Mode is not true?
A: You can enter data quickly and easily by using quick mode.
B: Quick Mode allows you to select the fields that will be copied automatically as you enter transactions into the Invoice Entry form.
C: Click File on the menu bar and then click Quick Mode.
D: Click Settings on the menu bar and then click Quick Mode.
C: Click File on the menu bar and then click Quick Mode.
Posting a batch will:
A: update the customer records, transactions, and statistics in the Accounts Receivable module
B: will create a batch for the General Ledger
C: Print the Batch Listing Report
D: A and B
E: All
D: A and B
Debit notes are transactions that Decrease the customer accounts receivable balance, while credit notes Increase the customer accounts receivable balance
A: True
B: False
B: False
Recurring charges must be assigned to a schedule created in _________ that is used to determine when the entries are due.
A: Common Services
B: A/R Module
C: Bank Services
D: Administrative Services
A: Common Services
