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Sage 300 Accounts Payable > Module#4: Performing Period-End Tasks > Flashcards

Module#4: Performing Period-End Tasks Flashcards

1
Q

You can use the _________ feature to export setup records, Vendor records and transactions.

A: Import
B: Export
C: Add

A

B: Export

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2
Q

Depending on the type of file to which you are exporting your data, you may have to create a file beforehand

A: True
B: False

A

A: True

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3
Q

In addition to being able to export data, you can also import data

A: True
B: False

A

A: True

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4
Q

True or False: Sage 300 enables you to export data in your Sage 300 database to a non-Sage 300 application.

A: True
B: False

A

A: True

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5
Q

Which file types does Sage 300 allow you to export to? (Select all the correct answers)

A: CSV File
B: XML
C: Microsoft PowerPoint
D: Microsoft Access
E: All
A

A: CSV File
B: XML
D: Microsoft Access

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6
Q

True or False: Exporting a file alters the original file.

A: True
B: False

A

B: False

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7
Q

The majority of companies divide their fiscal year into ________ accounting periods

A: 10
B: 11
C: 12

A

C: 12

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8
Q

The primary objective of month-end processing is to

A: bring the books into compliance with Generally Accepted Accounting Principles
B: prepare month-end financial statements and reports.
C: Both

A

C: Both

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9
Q

there is a required month-end procedures in Sage 300

A: True
B: False

A

B: False, there is no required month-end

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10
Q

Accounts Payable month-end tasks should be performed before the General Ledger month-end tasks are performed.

A:  posting open batches
B: performing a data integrity check
C: backing up your data
D: printing various analytical reports
E: clear Accounts Payable history
F: clear statistics
G: All
A

G: All

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11
Q

A data integrity check verifies that your data is ________ Free

A: Error
B: Risk
C: Space

A

A: Error

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12
Q

When should you run a data integrity check?

A: Before starting up Sage 300
B: before backing up your data
C: Before making any accounts and posts

A

B: before backing up your data

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13
Q

The data integrity check can only be run by your ________ Administrator, or a person assigned to a security group with authorization to check data integrity.

A: Corporate
B: System
C: Operation

A

B: System

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14
Q

What are some things that can go wrong during posting?

A: power fluctuation
B: network problem
C: hard disk problem
D: All

A

D: All

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15
Q

You should backup your files every 6 months

A: True
B: False

A

B: False, you should do it on a regular basis

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16
Q

When should a separate backup be done?

A: Month End
B: Week End
C: Year End

A

A: Month End

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17
Q

Why is it a good idea to use at least two sets of backup files?

A: This way you never overwrite your most recent one.
B: So if you screw up one you have another one
C: In case you delete one then you have another one

A

A: This way you never overwrite your most recent one.

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18
Q

The Vendor Transactions report does what?

A: Shows you the current status of your vendor accounts.
B: lists all the transactions that have been posted to your vendor accounts for the selected period.
C: Both

A

C: Both

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19
Q

The Aged Payables report is used to

A: group outstanding transactions into current period
B: Print old reports that are months old
C: Both

A

A: group outstanding transactions into current period

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20
Q

How many aging periods, based on due date or document date are there?

A: 3
B: 4
C: 5

A

B: 4

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21
Q

The Aged Cash Requirements report is used to assist you in your cash flow projections and analysis but what else does it do?

A: It will outline for you the amount of cash required to meet outstanding payables as they come due.
B: it will let you put cash onto any outstanding accounts
C: Both

A

A: It will outline for you the amount of cash required to meet outstanding payables as they come due.

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22
Q

General Ledger transactions can’t be created for you automatically when you post a batch in Accounts Payable. You will have to create them manually

A: True
B: False

A

B: False, They can be created for you automatically

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23
Q

At month-end, you should use the ________ option to clear data that you no longer require.

A: Clear History
B: Clear Accounts
C: Clear Posts

A

A: Clear History

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24
Q

If you select Fully Paid Documents, documents with a balance of zero, with the check used to pay the documents having cleared the bank account, and have been reconciled for at least ______ days will be cleared

A: 40
B: 45
C: 50

A

B: 45

25
Q

f a Vendor, Vendor Group, Remit To Location, and/or Recurring Ppayable has an inactive status, it can be deleted using the A/P _________ Records form

A: Delete Inactive
B: Delete Active
C: Clear Inactive

A

A: Delete Inactive

26
Q

use the _________ option at month-end to clear period statistics for Vendors and or Vendor groups

A: Delete Statistics
B: Clear Statistics
C: Merge Statistics

A

B: Clear Statistics

27
Q

What does the Clear Statistics option clear? (Select all that Apply)

A: Total amount of invoices
B: Discounts lost
C: Total paid invoices.
D: Activity statistics

A

A: Total amount of invoices
B: Discounts lost
C: Total paid invoices.

28
Q

n addition to the range of Tax Authorities you can also select to use the ________ for reporting (Select All that Apply

A: Fiscal Period
B: Document Date
C: Month Period
D: Yearly Date

A

A: Fiscal Period
B: Document Date

29
Q

In the Transaction Type box you can select ________ (Select all that apply)

A: Sales
B: Purchases
C: Invoices
D: Revenue

A

A: Sales
B: Purchases

30
Q

When adjustments are made in Accounts Payable that affect a bank account, the data is not sent to Bank Services.

A: True
B: False

A

A: True

31
Q

There are other situations where the check needs to be reversed, such as (Select all that apply)

A: the check was issued incorrectly
B: the check was lost
C: you do not want to pay the supplier at this time and have stopped payment.
D: The Check went to the wrong address

A

A: the check was issued incorrectly
B: the check was lost
C: you do not want to pay the supplier at this time and have stopped payment.

32
Q

Checks can be reversed by selecting the ________ Transactions icon in the Bank Transactions folder

A: Reverse
B: Return
C: Refund

A

A: Reverse

33
Q

By default _________ is already selected for you in the Source Application box and Payments in the Reverse Document box.

A: Accounts Receivable
B: Accounts Payable
C: General Ledger

A

B: Accounts Payable

34
Q

Once the Accounts Payable month-end tasks are completed, the General Ledger month-end tasks can be completed. These include: (Select all that Apply)

A: processing General Ledger batches
B: printing General Ledger reports
C: printing Financial Statements
D: checking Data Integrity
E: backing up data
A 
A: processing General Ledger batches
B: printing General Ledger reports
C: printing Financial Statements
D: checking Data Integrity
E: backing up data
35
Q

What are some of the Month End Tasks? (Select all that Apply)

A: Post open batches
B: Back up data
C: Import Accounts Payable data
D: Clear Accounts Payable history
E: Print analytical reports
F: Clear statistics
G: Create General Ledger entries
H: Perform a data integrity check
A 
A: Post open batches
B: Back up data
D: Clear Accounts Payable history
E: Print analytical reports
F: Clear statistics
H: Perform a data integrity check
36
Q

True or False: Accounts Payable month-end tasks should be performed before the General Ledger month-end tasks are performed.

A: True
B: False

A

A: True

37
Q

You should run a data integrity check ________ backing up your data.

A: After
B: Before
C: When

A

B: Before

38
Q

At month-end you would use the A/P ________ form to clear data that you no longer require.

A: Clear Stats
B: Clear History
C: Information
D: Remove Data

A

B: Clear History

39
Q

Be sure to complete any month-end procedures for the current period before beginning your year-end tasks

A: True
B: False

A

A: True

40
Q

it is important to perform a backup prior to beginning any year-end tasks.

A: True
B: False

A

A: True

41
Q

The __________ must be printed and cleared before you can use the Year End function.

A: Batch Listings
B: Adjustments
C: Posting Journals

A

C: Posting Journals

42
Q

Select the options that appear of the A/P Year End form: (select all answers that apply)

A: Clear Activity Statistics
B: Clear Recurring Payable Year to Date Statistics
C: Clear All Services
D: Reset All Batch Numbers

A

A: Clear Activity Statistics
B: Clear Recurring Payable Year to Date Statistics
D: Reset All Batch

43
Q

The Visual Process Flow available for Accounts Payable is ________

A: G/L Transactions
B: A/P Transactions
C: B/K Reconciliation

A

B: A/P Transactions

44
Q

Clicking on the Enter Vendor Invoices icon on the A/P Transactions form will open up the A/P ________ form.

A: Payment Entry
B: Vendors
C: Invoice Entry

A

C: Invoice Entry

45
Q

When should the A/P Accounts Payable Month End tasks be performed?

A: Before G/L month End
B: After G/L Month End
C: It doesn’t Matter
D: There are no General Ledger month End

A

A: Before G/L month End

46
Q

Which of the Following types of Data can you not select to clear using the Clear history Form?

A: Vendor Stats
B: Vendor Comments
C: Posting Errors
D: Deleted and Posted Batches

A

A: Vendor Stats

47
Q

What type of Stats can be removed using the clear stats function?

A: Only Vendor Stats
B: Only Vendor Group Stats
C: Vendor and Vendor Group stats
D: None of the Above

A

C: Vendor and Vendor Group stats

48
Q

Checks can be reversed by selecting Reverse Transactions in the Bank Periodic Processing Folder

A: True
B: False

A

B: False, its the Bank Transactions Folder

49
Q

What must be printed and cleared before you can use the Year End Function?

A: Batch Listings
B: Stats
C: Adjustments
D: Posting Journals

A

D: Posting Journals

50
Q

All of the Following are types of files you import into Sage 300 Except:

A: PowerPoint
B: Dbase 5.0
C: ODBC
D: Excel

A

A: PowerPoint

51
Q

Accounts Payable Month-End tasks should be performed after the General Ledger month-End Tasks

A: True
B: False

A

B: False

52
Q

Using the ___________ ______ Utility is probably the best way of creating a backup of your data

A: Database Load
B: Create Backup
C: Database Dump
D: Database Backup

A

C: Database Dump

53
Q

Define Vendor Transaction report

A: used to group outstanding transactions into current period and four selected aging periods
B: used to assist you in your cash flow projections and analysis
C: It lists all the transactions that have been posted to your vendor accounts for the selected period.

A

C: It lists all the transactions that have been posted to your vendor accounts for the

54
Q

Define Aged Payable Report

A: used to group outstanding transactions into current period and four selected aging periods
B: used to assist you in your cash flow projections and analysis
C: It lists all the transactions that have been posted to your vendor accounts for the selected period.

A

A: used to group outstanding transactions into current period and four selected aging periods

55
Q

Define Aged Cash Requirements Report

A: used to group outstanding transactions into current period and four selected aging periods
B: used to assist you in your cash flow projections and analysis
C: It lists all the transactions that have been posted to your vendor accounts for the selected period.

A

B: used to assist you in your cash flow projections and analysis

56
Q

Clearing Statistics, located in the Periodic Processing folder will clear activity stats as well as clearing period stats for Vendors and/or Vendor Groups

A: True
B: False

A

A: True

57
Q

The A/P Year End Form can be used for all of the following functions except:

A: Reset All Batch Numbers
B: Clear invoices paid and days to pay counter
C: Clear Recurring Payable year to date Stats
D: Clear Activity Stats
E: Clear Stats

A

E: Clear Stats

58
Q

In the Visual Process Flows, Clicking any of the Red circle icons will open it’s corresponding form

A: True
B: False

A

A: True

Sage 300 Accounts Payable (4 decks)

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