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You are reviewing an invoice on the Review Transaction page. After clicking the Sales Credit subtab. you notice the following breakdown: Revenue Allocation and Nonrevenue Allocation.

What is Nonrevenue Allocation?

ASales credit allocation based on billing corrections

BAdditional incentive-based sales credits

CSales credits associated to deferred revenue

DSales credit reversals due to credit memo creation

Question 2

You are investigating the Receivables to General Ledger Reconciliation report and must explain any variances to your Accounting Manager.

What two variance amounts should you expect to investigate in this report?

AAccounting Variance

BIntercompany Variance

CTax Variance

DReceivables Variance

Question 3

Manage Receipt Classes and Methods

Scenario

Supremo US Business unit needs to capture customer payments that will be reconciled in the Cash Management application. You need to define a receipt class and receipt method, and assign the appropriate bank account to meet this requirement.

Task:

Define Remittance Bank Account where:

Bank Account is associated with Receipt Method

Primary bank account is linked the Denver branch of Bank of America

Bank account number ends with 2870

Remittance bank account is effective as of January 1, 2023

GL Accounts section must contain the values below for company segment 120 Supremo Fitness

ASee the explanation below for solution

Question 4

In Collections, strategies can be executed based on the wait times defined on a strategy task. When the feature is enabled, you can also assign wait times for strategies based on their transaction type. Which condition must be set for the transaction level when defining a new strategy task by transaction type?

ADays Early

BTime

CDaysLate

DNot Applicable

Question 5

Manage Receipt Classes and Methods

Scenario

Task:

Create Receipt Method. where:

Name of the new receipt method is XXCheck (Replace XX with 03. which is your allocated User ID.)

Receipt method must be effective as of January 1. 2023

ASee the explanation below for solution

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