The ________ task is stored in the General Ledger as the ZZZ record and is automatically added whenever you set up a contract.
JSR uses the ALL record for the header information when reports are run under the combine all tasks option.
Name the four account types that can be initialized in Contract Master File.
If the division is changed in the Contract Master File, the General Ledger will automatically be updated.
There are three major government contract types that can be set up in GCS – Fixed Price, Cost Plus Fixed Fee and Time & Materials. The _____________ determines the manner in which revenue and billings will be calculated and treated.
If the contract being initialized is of commercial in nature, mark the “Commercial” checkbox in Contract Master File. What does this option do?
This option in Contract Master File ensures that only authorized employees can charge to the contract.
A contract is inactive in Contract Master File. The General Ledger remains active. Journal entries can still be made unless _________________________________.
The _______________________ determines the level or task at which the revenue is to be recognized and posted and the levels at which billings will be computed as stored.
If the Task Revenue Requirement is not selected, revenue will be credited to the ___________ task.
ALL task level
000 task level
Individual task level
The _________________________ determines how the invoice will be posted. This cannot be set a lower level than revenue.
If Task AR Requirements is not selected in the Contract Master file, a separate invoice will be posted for each task and invoice for each task will be displayed separately on the aging.