New World ERP - FM - Revenue Collections

10 Questions | Total Attempts: 120

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New World ERP - FM - Revenue Collections

Congratulations on completing Revenue Collections training! Now that you've been introduced to basic Revenue Collections processing you should be able to pass with 80% or better accuracy. Good luck!


Questions and Answers
  • 1. 
    Which is the correct path to follow for receipt entry?
    • A. 

      Financial Management > Inquiries > Revenue Collections > Receipts.

    • B. 

      Financial Management > Revenue Collections > Receipts.

    • C. 

      Financial Management > Revenue Collections > 3rd Party Receivables.

    • D. 

      Both A & B.

  • 2. 
    What should be entered into the "Received From" field?
    • A. 

      The name of the person or business submitting payment.

    • B. 

      The name of the cashier receiving payment.

    • C. 

      It should be left blank.

    • D. 

      New World Systems.

  • 3. 
    How can I see the totals for the receipt  batch? (Check all that apply.)
    • A. 

      In the Revenue Collections Batch List screen.

    • B. 

      The Summary tab from the Revenue Collection Batch screen.

    • C. 

      A running totals is provided while performing a receipt.

    • D. 

      All of the above.

  • 4. 
    What is required to Void a receipt?
    • A. 

      The user name and password of an authorized user.

    • B. 

      The first and last name of the person performing the void.

    • C. 

      Thumbprint identity verification.

    • D. 

      All of the above.

  • 5. 
    What is the difference between the G/L Date and the Payment Date?
    • A. 

      The G/L Date drives what date is hit on the general ledger. The payment date records what date the payment was collected from the remitter.

    • B. 

      The payment date reflects when the payment was deposited but the G/L date reflects when the deposit was cleared through the bank.

    • C. 

      The G/L date reflects when the receipt was produced but the payment date does not.

    • D. 

      All of the above.

  • 6. 
    Which report will provide the detailed receipt breakdown by payment code?
    • A. 

      Receipt Transaction Report.

    • B. 

      Receipts by Payment Code Report.

    • C. 

      Receipts by G/L Distribution Report.

    • D. 

      None of the above.

  • 7. 
    Can more than one transaction be collected on a receipt?
    • A. 

      Yes, the + icon can be utilized to add additional transactions to a single receipt.

    • B. 

      Yes, but only if it is on a different payment code.

    • C. 

      Yes, but only if collected separately.

    • D. 

      No, only one transaction is allowed per receipt.

  • 8. 
    What is the best way to locate a receipt when searching by the name of the remitter?
    • A. 

      Financial Management > Inquiries > Payment Inquiry.

    • B. 

      Financial Management > Inquiries > Revenue Collections > Receipts > Enter the name in the Received From field.

    • C. 

      Run the Revenue Collections by G/L Distribution Report.

    • D. 

      None of the above.

  • 9. 
    Are all receipts entered into a receipt batch or can they just be entered individually?
    • A. 

      Yes. All receipts must be entered into receipt batches.

    • B. 

      No, receipts can be entered with or without a batch.

    • C. 

      No, batches are not utilized in Revenue Collections.

    • D. 

      None of the statements above are accurate.

  • 10. 
    To post a receipt batch in new world ERP, the following are required: (Check all that apply.)
    • A. 

      The batch must be validated.

    • B. 

      The Edit Listing must be printed.

    • C. 

      The batch must be approved at the highest level.

    • D. 

      The batch must balance to the funds on hand.

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