Netsuite financial Study guides, Class notes & Summaries

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 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...

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...

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

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...

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...

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 Statement, Statement of Cash Flows Account Type How does NS group...

Subsidiary Correct Answer separate legal entity 125 Correct Answer max number of subs (new) elimination subsidiary Correct Answer where you balance out consolidation Yes Correct Answer Can different subsidiaries have different fiscal calendars? No Correct Answer Can subsidiaries be deleted after they have been created Department Correct Answer Usually assigned to teams 50 Correct Answer max # of locations allowed 3 types of financial statements Correct Answer Balance Sheet, ...

Offsetting intercompany transactions Correct Answer What is the purpose of an elimination subsidiary? Classes Correct Answer Types of sales or product lines Locations Correct Answer Warehouses Subsidiaries Correct Answer Company Departments Correct Answer Internal Teams Customize the role to restrict access by segment, Designate Department, Class, Location on the account, Tag the Employee record to Department, Class, Location Correct Answer Which three steps are required to preven...