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Sage 300 Accounts Receivable > Module#2: Using the Accounts Receivable Module > Flashcards

Module#2: Using the Accounts Receivable Module Flashcards

1
Q

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

A: True

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2
Q

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

A

D: Statistics

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3
Q

The number you give your customer can be an alphanumeric code up to ________ characters long

A: 12
B: 10
C: 13

A

A: 12

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4
Q

True or False

Once you have entered and saved a customer record, the customer number can be changed.

A: True
B: False

A

B: False

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5
Q

The Ship-To Location form consists of _____ tabs:

A: 1
B: 2
C: 3

A

C: 3

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6
Q

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

A: Customer Group List, Customer Group Statistics

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7
Q

Select Customer _________, to list sales and receipt history.

A: Period Statistics
B: Activity Statistics
C: Comments

A

B: Activity Statistics

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8
Q

Select Customer _________, to display statistics for all transactions

A: Period Statistics
B: Activity Statistics
C: Comments

A

A: Period Statistics

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9
Q

Select Customer _________, to list comments about customers.

A: Period Statistics
B: Activity Statistics
C: Comments

A

C: Comments

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10
Q

Before you can add a customer you must add a

A: Tax Group
B: Customer Group
C: Ship to Location

A

B: Customer Group

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11
Q

On the _________ tab on the A/R Customers form, you can view transaction statistics for the customer.

A: Activity
B: Contact
C: Statistics

A

C: Statistics

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12
Q

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

A: True

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13
Q

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

A: True

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14
Q

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

A

B: Because it controls the A/R Subledger

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15
Q

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

A

B: False, they do need to total the same amount

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16
Q

The default date entered in the Batch Date box is the _______ Date

A: Fiscal
B: Session
C: Months End

A

B: Session

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17
Q

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

A: Item

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18
Q

Select _______ if you just want to update your Accounts Receivable records.

A: Item
B: Summary
C: Revenue

A

B: Summary

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19
Q

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.

A

C: Invoice Entry form

20
Q

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
A

E: A and B

21
Q

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

A: True

22
Q

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

A: True

23
Q

_______ charges are charges made to your customers on a regular basis.

A: Continuous
B: Never Ending
C: Recurring

A

C: Recurring

24
Q

recurring charges must be assigned to a schedule in what services?

A: Common
B: Administrative
C: Either one

A

A: Common

25
Q

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

A: True

26
Q

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

A: Debit Note
B: Interest
C: Invoice

27
Q

The Create Recurring Charge Batch command is found in the A/R ________ folder.

A: Setup
B: Transactions
C: Periodic Processing

A

C: Periodic Processing

28
Q

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

A: Increase, Decrease

29
Q

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

A

D: Write-off

30
Q

What must you add before you can add a customer?

A: Tax Group
B: Customer Group
C: Ship to Location
D: A Batch

A

B: Customer Group

31
Q

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

A

B: The A/R amount is already in the A/R General Ledger Account

32
Q

Posting A/R batches in the General Ledger will update the corresponding accounts

A: Customer
B: A/R
C: General Ledger
D: A/P

A

C: General Ledger

33
Q

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

A

D: A Customer Group

34
Q

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

A

B: It is not possible to select a ship-to location for that customer

35
Q

To view all the data about your customer open the ________ form.

A: Receipt Inquiry
B: Customer List
C: Customer Inquiry
D: Refund Inquiry

A

C: Customer Inquiry

36
Q

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

A

C: Customer Information Report

37
Q

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

A: True

38
Q

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

A

B: False

39
Q

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

A

D: Summary

40
Q

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

A

G: All

41
Q

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

A: Cleared, Calculate Taxes, Distribute Taxes

42
Q

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.

A

C: Click File on the menu bar and then click Quick Mode.

43
Q

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

A

D: A and B

44
Q

Debit notes are transactions that Decrease the customer accounts receivable balance, while credit notes Increase the customer accounts receivable balance

A: True
B: False

A

B: False

45
Q

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

A: Common Services

Sage 300 Accounts Receivable (4 decks)

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