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NEW QUESTION 35
How can you configure a profile for reconciliation compliance to show the variance between a current period balance and a prior period balance in a separate workflow from the reconciliation?
- A. Select a format with the Variance Analysis reconciliation method for the profile.
- B. Create a calculated attribute to compare the prior period balance to the current period balance and add it to the profile.
- C. Add a rule to the Rules tab.
- D. On the currency tab, enable a currency bucket for that prior period balance.
Answer: A
NEW QUESTION 36
What happens to a reconciliation if a team member who prepared the reconciliation is deleted from the team at a later point of time?
- A. Changes made by the deleted member are reverted and the deleted member is removed from the reconciliation as preparer.
- B. The reconciliation is flagged as invalid and needs to be re-created by the administrator.
- C. Changes made by the deleted member are reassigned to the primary member of the team for review and approval,
- D. Changes made by the deleted member are kept intact and the deleted member still appears as the original preparer.
Answer: D
NEW QUESTION 37
Which is NOT a step in the process for reconciliation compliance?
- A. load balances
- B. prepare reconciliations
- C. confirm suggested matches
- D. execute automation like Automatic Recon and Rules
Answer: C
NEW QUESTION 38
Which three fields are required in a load file for pre-mapped balances?
- A. Reconciliation ID
- B. Period
- C. Currency Bucket
- D. Entity
- E. Amount
- F. Currency Code
Answer: A,E,F
NEW QUESTION 39
Which two are auto-reconciliation methods? (Choose two.)
- A. Balance is zero and no activity
- B. No Data
- C. Balance Match (%tolerance)
- D. Balance has not changed
Answer: A,C
NEW QUESTION 40
Which expression do you include in the Expression field of the Amount column in an import format to ensure that zero balances are loaded?
- A. Include Null
- B. NZP
- C. Source system
- D. 0
Answer: B
NEW QUESTION 41
You want to require that preparers answer a question certifying that they followed the company accounting policies in preparing the reconciliation.
Where do you add the questions?
- A. to the profile
- B. to the format
- C. to the match type
- D. to the reconciliation
Answer: B
NEW QUESTION 42
The transaction matching period-end reconciliation displays an unexplained difference other than zero. Which two are possible explanations? (Choose two.)
- A. Currency exchanges rates are out of date.
- B. You do not have security access to all the transactions.
- C. The data load for transactions was incomplete.
- D. Journal adjustments created were not posted.
Answer: B,D
NEW QUESTION 43
Which three types of reconciliations are suitable for the Transaction Matching feature? (Choose three.)
- A. reconciliations that are typically zero balance accounts with low activity
- B. accounts with high volumes of data
- C. reconciliations with a single data source, like a clearing account
- D. reconciliations with 2 or more data sources, like a cash or accounts receivable account
- E. reconciliations that have amortizing transactions
Answer: A,C,D
NEW QUESTION 44
Which statement regarding user-defined attributes is FALSE?
- A. They can be assigned default value.
- B. You can no longer add/edit attributes after reconciliations are created.
- C. You can assign access by user role.
- D. They can include calculated values.
Answer: B
NEW QUESTION 45
What results if you load balances using Data Management to a period to which you previously imported pre- mapped balances?
- A. The balances loaded through Data Management overwrite the pre-mapped balances.
- B. The Data Management data load fails.
- C. You are prompted whether to overwrite the pre-mapped balances.
- D. The reconciliation takes the balances loaded through Data Management and the pre-mapped balance load, and totals them.
Answer: A
NEW QUESTION 46
Which property of profiles is set automatically when you select the format for the profile?
- A. Normal Balance
- B. Account Type
- C. Method
- D. Process
Answer: B
NEW QUESTION 47
When a user requests that responsibility for a reconciliation be reassigned to John, who is another regular user, John should be able to approve the request.
How can this be configured?
- A. On the Manage Users tab of the Access Control page, assign John the Reassignment Approvers role.
- B. In his User Preferences, John should select the Approve Reassignments option.
- C. Add John to the Reassignment Approvers security group.
- D. On the Reassignment Requests tab in System Settings, in the Allow Reassignment Request Approval By option, select Users.
Answer: D
NEW QUESTION 48
In the Balance Explanations tab of the Prepaid Expenses reconciliation, you want to include the transactions and attachments from the prior period in the current period.
Which action should you perform?
- A. In the Reconciliations list, copy the reconciliation from the prior period and paste it into the current period.
- B. Export the transactions from the prior period reconciliation and then import them to the current period reconciliation.
- C. In the Balance Explanations tab of the current period reconciliation, select 'Copy Transactions from Prior Reconciliation'.
- D. In the profile for Prepaid Expenses reconciliations, select 'Include Prior Period Transactions'.
Answer: D
NEW QUESTION 49
Which two statements are correct about deleting reconciliations? (Choose two.)
- A. The reconciliation status must be Pending.
- B. Only the preparer of the reconciliation can delete the reconciliation.
- C. Only a Service Administrator or a Power User can delete a reconciliation.
- D. The balances loaded for a period are not deleted when the reconciliation is deleted.
Answer: B,D
NEW QUESTION 50
Which statement is true about saved filters?
- A. Only service administrators can publish filters.
- B. Any user can publish a saved filter that they created.
- C. Saved Filters are public by default.
- D. Only power users and service administrators can publish filters.
Answer: C
NEW QUESTION 51
Which statement is true for profiles that have a Quarterly frequency selected?
- A. The balances for quarterly reconciliations aggregate the balances from monthly reconciliations.
- B. They must be assigned a quarterly calendar.
- C. You can create reconciliations for those profiles only in periods that have Quarterly frequency selected.
- D. You cannot create reconciliations for profiles with transaction matching reconciliation methods for quarterly periods.
Answer: C
Explanation:
You begin the reconciliation process for each period by creating reconciliations. You can create reconciliations for all account profiles, or for a filtered list of profiles. The profile frequency, such as monthly or quarterly, must match the period frequency.
NEW QUESTION 52
To which do you assign Holiday Rules?
- A. calendars
- B. profiles
- C. periods
- D. organizational units
Answer: A
NEW QUESTION 53
Which ability does NOT belong to users with the Power User role?
- A. review reconciliations
- B. prepare reconciliations
- C. edit profiles to which they are assigned access
- D. edit formats to which they are assigned access
Answer: D
NEW QUESTION 54
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