Netsuite financial - Study guides, Class notes & Summaries

NetSuite Financial User Exam Questions and answers, 100% Accurate, rated A+ How can the financial reports be kept separate when tracking finances for two wholly owned distinct legal entities in one NetSuite account? - -Use Subsidiaries Which two steps are recommended to track travel expenses by department ? - -1. Use separate general ledger accounts for each internal department expenses 2. Make department mandatory What was the AR Process - -Approve Sales Order > Fulfill sales or...

Total number of subsidiaries in OneWorld 124 subsidiaries in addition to the root for 125 total Elimination Subsidiary -Sales between subsidiaries, Inventory transfers between subsidiaries, Loans between subsidiaries -Doesn't count towards subsidiary count -Cannot be a parent subsidiary -Only for journal entries, not for other transactions Must See! Eyewitness Captures the Moment a Pair of Male Sea Lions Attack Beach-Goers What should you do before creating subsidiaries...

What is the purpose of an elimination subsidiary? A. Entering non-posting transactions B. Posting non-auditable transactions C. Offsetting expenses between departments D. Offsetting intercompany transactions Correct Answer D. Offsetting intercompany transactions Match each classification with its common use. A. ___ Classes B. ___ Locations C. ___ Subsidiaries D. ___ Departments 1. Company 2. Types of sales or product lines 3. Internal Teams 4. Warehouses Correct Answer A. __...

NetSuite Financial User Certification Exam Questions and Answers Rated A+ Subsidiary - ANSWER ️️ separate legal entity 125 - ANSWER ️️ max number of subs (new) elimination subsidiary - ANSWER ️️ where you balance out consolidation Yes - ANSWER ️️ Can different subsidiaries have different fiscal calendars? No - ANSWER ️️ Can subsidiaries be deleted after they have been created Department - ANSWER ️️ Usually assigned to teams 50 - ANSWER ️️ max # of locations al...

How can the financial reports be kept separate when tracking finances for two wholly owned distinct legal entities in one NetSuite account? Correct Answer Use Subsidiaries Which two steps are recommended to track travel expenses by department ? Correct Answer 1. Use separate general ledger accounts for each internal department expenses 2. Make department mandatory What was the AR Process Correct Answer Approve Sales Order > Fulfill sales order > Bill sales order A customer retur...

NetSuite Financial User Exam Questions and answers, 100% Accurate. Rated A+ How can the financial reports be kept separate when tracking finances for two wholly owned distinct legal entities in one NetSuite account? - -Use Subsidiaries Which two steps are recommended to track travel expenses by department ? - -1. Use separate general ledger accounts for each internal department expenses 2. Make department mandatory What was the AR Process - -Approve Sales Order > Fulfill sales or...

separate legal entity : Subsidiary max number of subs (new) : 125 where you balance out consolidation : elimination subsidiary Can different subsidiaries have different fiscal calendars? : Yes Can subsidiaries be deleted after they have been created : No Usually assigned to teams 2 | P a g e : Department max # of locations allowed : 50 Balance Sheet, Income Statement, Statement of Cash Flows : 3 types of financial statements How does NS group/categorize accounts? : Account Typ...

Subsidiary : separate legal entity 125 : max number of subs (new) elimination subsidiary : where you balance out consolidation Yes : Can different subsidiaries have different fiscal calendars? No : Can subsidiaries be deleted after th

1) What is the purpose of an elimination subsidiary? Correct Answer Offsetting intercompany transactions Match each classification with its common use A. ___ Classes B. ___ Locations C. ___ Subsidiaries D. ___ Departments Correct Answer 1. Company - Subsidiaries 2. Types of sales or product lines - Classes 3. Internal Teams - Departments 4. Warehouses - Locations 3) Which three steps are required to prevent someone from accessing some accounts but not others? (Choose three.) Co...

NetSuite Financial User Certification, Exam Questions and answers. 100% Accurate. Subsidiary - -separate legal entity 125 - -max number of subs (new) elimination subsidiary - -where you balance out consolidation Yes - -Can different subsidiaries have different fiscal calendars? No - -Can subsidiaries be deleted after they have been created Department - -Usually assigned to teams 50 - -max # of locations allowed 3 types of financial statements - -Balance Sheet, Income St...