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| Section | Objectives |
|---|---|
| Transaction Data and Automation | - Understand transaction data and automation with web services |
| Functional Setup and Security | - Configure security roles and access - Use Functional Setup Manager |
| Reporting and Period Close | - Reporting and period close processes |
| Adjust Journal Entries | - Manage and adjust journal entries |
| Diagnostics | - Perform diagnostic and troubleshooting tasks |
| Source System and Integration | - Update registered source systems - Register source systems and integration options |
| Modeling Considerations | - Analyze modeling considerations |
| Transaction Lifecycle | - Analyze transaction type life cycle |
| Accounting, Reporting, Audit, and Reconciliation | - Analyze accounting, reporting, audit, and reconciliation requirements |
| Accounting Rule Configuration | - Configure and analyze accounting rules |
What is theterminology that is used to refer to the number of transactions processed by Create Accounting in one commit cycle?
Correct Answer: B 🗳️
You are implementing Fusion Accounting Hub for your external Accounts Receivables system. The external system sends invoices billed and cash receipts in a flat file, along with the customer classificationinformation.
You want the accounting amounts to be tracked by customers too but you do not want to add a Customer segment to your chart of accounts.
What is the solution?
Correct Answer: C 🗳️
Given the business use case:
'New Trucks' runs a fleet of trucks in a rental business In the U.S. The majority of the trucks are owned; however, in some cases, 'New Truck' may procure other trucks by renting them from third parties to their customers. When trucks are leased, the internal sourcecode is 'L'. When trucks are owned, the internal source code is 'O'. This identifies different accounts used for the Journal entry. Customers sign a contract to initiate the truck rental for a specified duration period. The insurance fee is included in the contract and recognized over the rental period. For maintenance of the trucks, the "New Trucks* company has a subsidiary company
'Fix Trucks' that maintains its own profit and loss entity. To track all revenue, discounts, and maintenance expenses, 'New Trucks' needs to be able to view: total maintenance fee, total outstanding receivables, rental payment discounts, and total accrued and recognized insurance fee income.
How do you calculate discounts for use in the accounting rule?
Correct Answer: B 🗳️
What kind of sequence can be assigned to subledger journal entries at the time thatthe journal entries are created in final mode?
Correct Answer: D 🗳️
Most of the accounting entries for transaction from the source system use TRANSACTION_AMOUNT as a source of the entered amount accounting attribute. For some events, you need to use the TAX_AMOUNT source.
At what level can you override the default accounting attribute assignment?
Correct Answer: A 🗳️
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