Accounts - Introduction Quiz

1. GRNI stands for?

Goods Returned Not Initiated

Good Received Not Important

Good Received Not Invoiced

Goods Received Not Initiated

2. The aged credit report shows how much we owe our suppliers and when the invoices are due.

True

False

3. Within an account enquiry you have the option to view archived transactions. Transactions are archived during the month end process and can be viewed by clicking the Historic button.

True

False

4. Choose the correct matches to describe the parts receipt to invoice posting in the purchase ledger.

First I would

Then I would look at my

When the invoice arrives from the parts supplier

When posting the invoice I would

Submit

5. There is an option to allow you to upload scanned documents when you post an invoice.

True

False

6. When the parts department return a part to the supplier it adds a return note to the GRNI report.

True

False

7. If you post a nominal ledger journal to a vehicle stock nominal code it will appear on the stock reports in the vehicle system.

True

False

8. The nominal ledger can have how many periods open at a time:

6

3

4

2

9. An adjustment journal allows a user to post a nominal ledger journal to a closed financial period.

True

False

10. The contra suspense nominal code should have a balance.

True

False

11. Below are a list of standard nominal codes, please tick the dump account.

ZZZZ991

ZZZZZZ

ZZZZZX

XXXXXX

12. Every financial transaction is linked to a run number.

True

False

13. A sales ledger is used to......

Maintain a list of debtors we owe money to

Maintain a list of suppliers who owe us money

Maintain a list of customers we owe money to

Maintain a list of customers who owe us money

14. You can have master and transaction sales ledger accounts. Pick the correct relationship between them from the list below.

A master account can be linked to many transaction accounts

A transaction account can be linked to many master accounts

A master account can only be linked to a single transaction account

The master account and transaction account must have the same account code

15. You can control the number of paper invoices which are printed off in parts or workshop by each sales ledger account.

True

False

16. What is the purpose of sending a statement to a sales ledger account customer?

To advertise current dealership offers

To issue a summons for unpaid debt

To advise the customer of outstanding invoices and receipts

To show the dealership has paid all outstanding invoices for the customer

17. Who would you expect to spend most of their working day in the Sales Ledger module?

Salesman

Accounts Clerk

Accounts Director

Managing Director

18. The Credits Given report will allow a business to find the value of any credit notes posted across a date range. This is very useful to see if there are any customers who return goods more frequently.

True

False

19. Which of the below cannot be used to select an account in the enquiry screen?

Post Town

Post Code

Account Code

Telephone Number

20. A purchase ledger is used to......

Maintain a list of debtors we owe money to

Maintain a list of suppliers who owe us money

Maintain a list of suppliers we owe money to

Maintain a list of customers who owe us money

Accounts - Introduction Quiz

1. GRNI stands for?

2.

What first name or nickname would you like us to use?

2. The aged credit report shows how much we owe our suppliers and when the invoices are due.

3. Within an account enquiry you have the option to view archived transactions. Transactions are archived during the month end process and can be viewed by clicking the Historic button.

4. Choose the correct matches to describe the parts receipt to invoice posting in the purchase ledger.

5. There is an option to allow you to upload scanned documents when you post an invoice.

6. When the parts department return a part to the supplier it adds a return note to the GRNI report.

7. If you post a nominal ledger journal to a vehicle stock nominal code it will appear on the stock reports in the vehicle system.

8. The nominal ledger can have how many periods open at a time:

9. An adjustment journal allows a user to post a nominal ledger journal to a closed financial period.

10. The contra suspense nominal code should have a balance.

11. Below are a list of standard nominal codes, please tick the dump account.

12. Every financial transaction is linked to a run number.

13. A sales ledger is used to......

14. You can have master and transaction sales ledger accounts. Pick the correct relationship between them from the list below.

15. You can control the number of paper invoices which are printed off in parts or workshop by each sales ledger account.

16. What is the purpose of sending a statement to a sales ledger account customer?

17. Who would you expect to spend most of their working day in the Sales Ledger module?

18. The Credits Given report will allow a business to find the value of any credit notes posted across a date range. This is very useful to see if there are any customers who return goods more frequently.

19. Which of the below cannot be used to select an account in the enquiry screen?

20. A purchase ledger is used to......