The Ultimate SAP Business One Certification Practice Test #2

SAP Business One calculates the stock available in the warehouse by taking into account the stock that is currently in the warehouse (In Stock), the stock that has been ordered but not yet received (Ordered), and subtracting the stock that has already been committed to fulfill customer orders (Committed). This calculation gives an accurate representation of the stock that is available for immediate use or sale in the warehouse.

The given answer is False because it is possible to change the language settings of the SAP Business One application. Users can customize the language settings according to their preferences or requirements. This allows them to use the application in their preferred language, making it more user-friendly and accessible.

In SAP Business One, Chart of Accounts levels 2 - 4 do consist of active or title accounts. This means that these levels include accounts that are currently in use or serve as headings for other accounts.

The balance sheet is a financial statement that provides a snapshot of a company's assets, liabilities, and shareholders' equity at a specific point in time. It shows the accumulated assets and liabilities for the financial year to date, allowing stakeholders to assess the company's financial position. The cash flow report focuses on the cash inflows and outflows during a specific period, while the profit and loss statement shows the company's revenues, expenses, and net income or loss over a period. The annual report is a comprehensive report on a company's activities throughout the year, including financial information. The general ledger report provides a detailed record of all financial transactions.

When you define the opening balances function and the system currency differs from the local currency, the balances are converted automatically. This means that the system will automatically convert the balances from the local currency to the system currency. This ensures that the opening balances are accurately reflected in the system, regardless of the currency used.

Revenue is not among the balance sheet accounts because it represents the income generated by a company through its primary business activities. It is recorded on the income statement, which is a separate financial statement that shows the company's revenues, expenses, and net income for a specific period. The balance sheet, on the other hand, presents a snapshot of a company's financial position at a specific point in time and includes assets, liabilities, and equity.

The Account Code Generator is a tool used to create segments for the Chart of Accounts. It allows users to generate unique account codes based on specific criteria or rules. By using this tool, segments can be created to categorize accounts and organize financial information effectively. Therefore, the statement "You use Account Code Generator to create segments for your Chart of Accounts" is true.

Ted does not have general authorization to view Business Partner account balances. This is indicated by the asterisks in the Account Balance field, which suggests that the system is hiding the actual numeric value from Ted. This could be due to security settings or restrictions set by the system administrator, preventing Ted from accessing this information.

The correct sequence of the licensing process for SAP Business One is to first copy the hardware key from the License Manager, then request a license in the SAP Channel Partner Portal, import the license file into the License Manager, and finally assign the license to a user in SAP Business One. This ensures that the necessary hardware key is obtained and the license is properly imported and assigned to the user in the system.

You can create header and footer text for Sales Orders and A/P Credit Memos.

A user-defined field with Alphanumeric as the Type and Text as the Structure allows the field to store a long description or notes. This means that the field can be used to input and store detailed information or additional comments about a particular item or record. It is not specifically designed to store rate, amount, and price types, date and hour structures, or hyperlinks or image files.

The correct answer is 5 because the Chart of Accounts is a structured list of all the accounts used by a company to record its financial transactions. It is typically organized into five levels, which represent different categories of accounts. These levels include assets, liabilities, equity, revenue, and expenses. Each level contains multiple accounts that provide detailed information about specific financial activities. Therefore, the Chart of Accounts consists of five levels in order to accurately track and classify the company's financial data.

To order the product from an existing customer, you need to create a new vendor master record for the customer and then create a purchase order for this vendor. This allows you to establish a separate vendor account for the customer and initiate the purchasing process. By creating a vendor master record, you can ensure proper documentation and tracking of the transaction while maintaining a clear distinction between customer and vendor accounts.

Chad can reduce the quantity on the purchase order as long as it has not yet been shipped and inform his vendor about the change. This allows him to correct his mistake without canceling or recreating the entire purchase order. By contacting the vendor, he can ensure that the vendor is aware of the change and will send the correct quantity of steel tubes. This solution is more efficient and avoids the need for additional paperwork or delays in the procurement process.

Running the inventory audit report in SAP Business One will provide the stock keeper with a report of items with no transactions in the report period. This report will help identify items that have not been involved in any transactions, allowing the stock keeper to take appropriate actions such as restocking or investigating any potential issues.

The correct answer is Revenue & Expenses. An income statement is a financial statement that shows a company's revenue and expenses over a specific period of time. Revenue represents the income generated from the company's primary activities, such as sales of goods or services. Expenses, on the other hand, are the costs incurred by the company to generate revenue. By subtracting expenses from revenue, the income statement calculates the company's net income or loss. Therefore, Revenue & Expenses are the two types of income statement.

The '[%0]' is a unique variable that is attached to the date of a document. When running the query, the system will prompt the user to enter a date. This means that the query is designed to filter the documents based on a specific date that the user inputs each time the query is executed.

The profit and loss statement, also known as the income statement, shows the revenues and expenses of a company during a specific period. Sales and expenditure accounts are the accounts that directly contribute to the calculation of net income or loss. These accounts include sales revenue, cost of goods sold, operating expenses, and other expenses. Therefore, sales and expenditure accounts are the ones that appear in the profit and loss statement.

To defer 25 to the next fiscal year, the customer should first post the full expense of 100. Then, they should post a journal entry to credit the expense for 25, indicating that this amount is being deferred. This journal entry should have a reversal date for the next fiscal year, ensuring that the 25 will be reversed and accounted for in the appropriate period. This method allows the customer to properly record the full expense in the current fiscal year while deferring a portion of it to the next fiscal year.

The system looks for special prices set up for the customer first when an item is selected in a sales order. These special prices are specifically set up for individual customers and may offer discounts or preferential pricing based on their specific needs or agreements. This ensures that the customer receives the most accurate and relevant pricing information for their specific requirements.

This answer is correct because it states that an inventory item can be changed to a non-inventory item and vice versa, but only under specific conditions. These conditions are that the total quantity of the item must be zero and the item must have no open document. This implies that if the item has any quantity or open documents associated with it, it cannot be changed from an inventory item to a non-inventory item or vice versa.

The correct answer is 2 because SAP Business One allows for a maximum of two concurrent same user access on a company database. This means that at any given time, only two users with the same login credentials can access the database simultaneously.

The SAP Business One Service Manager provides a backup service to automatically backup databases. This means that it allows for the automatic creation of backups for the databases used in SAP Business One. This is important for data protection and disaster recovery purposes, ensuring that important data is regularly and securely backed up to prevent loss in case of any unforeseen events or system failures.

The field with the "Refresh Regularly" assignment will update every time the document is opened, regardless of whether any changes were made. This means that even if no changes were made to the quotation, the field will still refresh and display a user-defined value.

Landed Costs cannot be used as a service document in the purchasing process. Landed Costs refer to additional expenses incurred during the transportation and importation of goods, such as customs duties, freight charges, and insurance. These costs are associated with physical goods and not with services. Therefore, Landed Costs cannot be used as a service document in the purchasing process.

Approval procedures can be defined for documents such as Goods Receipt, Sales Order, and Purchase Order. This means that before these documents can be finalized or processed, they need to go through an approval process. This process ensures that the documents meet certain criteria or requirements before they can be considered valid or authorized. By defining approval procedures for these documents, organizations can maintain control over their operations and ensure that all necessary approvals are obtained before proceeding with the respective transactions.

To set up two delivery addresses for Speedy Flowers Ltd, you need to choose 'define new' under 'ship to' on the address tab of the customer master data. This option allows you to enter and save the two delivery addresses for the customer, ensuring that both addresses are available for deliveries. This is the correct method for setting up multiple delivery addresses for a customer in the system.

An alternative item row type can be defined for the Sales Quotation document type. This means that when creating a Sales Quotation, users have the option to define alternative items for the products or services being quoted. These alternative items can be used as substitutes or options for the main items, allowing for more flexibility in the quotation process.

During the project implementation phase of SAP Business One, a minimum of three databases should be created. This is because SAP Business One requires three databases: the system database, the company database, and the demo database. The system database contains information about the SAP Business One system itself, the company database stores the client's business data, and the demo database is used for testing and training purposes. Therefore, creating three databases is necessary for a successful implementation of SAP Business One.

If you are using account segmentation to track by region, you would need 200 segmented accounts. This is because there are 20 different sales regions and each region needs to be tracked separately. Therefore, you would need a segmented account for each sales region, resulting in a total of 200 segmented accounts.

The 'Set G/L accounts by' field controls whether you are able to change the inventory accounts shown in the item master record. This field determines the method by which the general ledger (G/L) accounts are set for inventory items. By selecting a specific option in this field, you can either manually set the G/L accounts for each item or use the default accounts defined in the system. Therefore, the 'Set G/L accounts by' field is responsible for controlling the ability to change the inventory accounts in the item master record.

A quotation can be created for all customers and all leads. This means that both existing customers and potential customers (leads) can receive a quotation for products or services. It is not limited to only specific types of customers or leads.

not-available-via-ai

The most efficient way to change all the product prices at the same time whenever the season changes is to create a price list called 'regular sales price list' to list the regular sales prices. Then, create another price list called 'seasonal price list' and use the 'regular sales price list' as the base. Set a factor by which to discount all the items in the seasonal price list. This way, whenever Vincent wants to change the prices for the seasonal price list, he can simply modify the discount factor without the need to create a new price list.

Query print layouts in SAP Business One allow users to include sub-sorts and sub-totals in their reports. This means that users can organize and group data within the report based on specific criteria, and also calculate sub-totals for each group. This feature enhances the usability and flexibility of the query print layouts, allowing users to customize their reports according to their specific needs and requirements.

By selecting the three items and changing the amount to reconcile on one of the invoices, the system allows for the reconciliation of the payment and one of the invoices. However, the remaining invoice will still have a balance due and will remain open. This option allows for partial reconciliation of the transactions.

To solve the problem with his price lists, Peter should set the rounding field in the price list to 'rounding to the full amount'. This means that any calculations or updates made to the prices will be rounded to the nearest whole number, ensuring that all prices remain in whole numbers as desired.

The Due Date on the invoice will be July 1. This is because the payment terms are calculated based on the posting date, which is May 10 in this case. The Due Date is set to the beginning of the month plus 31 days, so the invoice will be due on the first day of the following month, which is July 1.

When you create an invoice for a customer with an agreement to accept payments in three installments, the system will post a single journal entry that contains a row for each installment. Each row will have the relevant due date specified. This means that the customer will receive one invoice with all the installment details and due dates clearly mentioned.

The first statement is true because it is possible to create a purchase order based on a sales order. The second statement is false because a delivery date is not optional when a sales order is first created, it is a required field. The third statement is true because when a sales order is entered for a product, it will reduce the available stock for that item by the quantities entered in the sales order. The fourth statement is false because if there are changes to a sales order, it can be modified instead of being deleted and re-entered. The fifth statement is true because a sales order can be created from a quotation.

In SAP, a posting key is a two-digit code that controls the entry of a transaction in the general ledger. It specifies the account type (debit or credit), the type of posting (e.g., invoice, payment, goods receipt), and other relevant information. This ensures that transactions are recorded accurately and consistently in the financial accounting system.

Creating an employee master data record is necessary for setting up data ownership exceptions. This means that certain data or records can be exempted from the ownership rules and can be accessed or modified by specific employees, including the new sales employee. This allows for more flexibility and customization in data access and ensures that the new employee can perform their job effectively without any restrictions.

To be able to process customer payments even if they differ from the invoice amount by as much as $1, it is advised to specify an under/overpayment amount under 'Document Settings' for the incoming payment document. This allows the system to post the difference to a predefined G/L account during payment time. This ensures that any over or underpayments are accounted for and properly recorded in the financial system.

The customer should be advised to specify the names of all users who will be subject to the approval process. This is important to ensure that the appropriate individuals are involved in the approval process and that the documents are reviewed by the correct individuals. Additionally, the customer should also be advised to first define the approvers for each stage of the process. This will help in establishing a clear and organized approval workflow, ensuring that the documents go through the necessary stages and are reviewed by the designated approvers.

Janice forgot to include the new payment method in the vendor master data, which is why she cannot see it when running the Payment Wizard to pay her vendors. Additionally, she also did not include the new payment method in the payment run defaults, further contributing to the issue.

In SAP Business One, it is possible to create a custom security level, allowing for flexibility in defining password security. However, only one security level can be set for all users, although it can be modified if needed. Additionally, one of the predefined security levels is low, indicating that there are multiple predefined levels available.

The recommended approach is to create a posting template for each payment and use this template when posting each journal entry. Additionally, creating a recurring posting for each payment and setting the posting frequency to monthly will help in quickly posting these payments each month. This method allows for efficient and consistent posting of rent and loan payments on a regular basis.

The consume forecast checkbox in MRP forecasts allows for the reduction of sales forecast quantities if there is another requirement on the same day. This means that if there are additional demands or requirements for the product on a specific day, the sales forecast will be adjusted accordingly. This feature helps to ensure that the forecast is accurate and takes into account any other needs or demands for the product.

The receipts quantity on the MRP recommendation is affected by the purchase orders and production orders for the finished goods item. Purchase orders represent the quantity of materials or components that will be received from suppliers, while production orders indicate the quantity of finished goods that will be produced internally. These two factors directly impact the overall receipts quantity, as they determine the availability of materials and finished products for the production process. The other options, such as forecasts, sales orders, and minimum inventory levels, may influence the MRP recommendation indirectly but do not directly affect the receipts quantity.

User defined fields in SAP Business One are used for integration into document templates and to find objects. These fields can be added to document templates to include custom information and can also be used to search and filter data based on specific criteria. This allows for greater flexibility and customization in generating reports and analyzing data within the system.