Account Mapping Rules for Inter-Branch Transactions: Test Pool (ML-Generated)
- In what situation would you need to configure account mapping in the system?
(Select all correct responses.)
- You need to post GL transactions with different lines associated with different companies or branches.
- You need to set up companies with branches requiring balancing.
- You want to process interbranch bills and invoices, and intercompany funds transfers.
- You want to extend a branch as a customer or vendor so you can specify it in AR and AP documents.
- What types of transactions may require the system to generate balancing entries
for interbranch or intercompany transactions? (Select all correct responses.)
- Transactions that involve multiple branches or companies within an organization
- Transactions where credit and debit amounts are posted to different branches or companies
- Transactions that involve only one branch or company within an organization
- Transactions where credit and debit amounts are posted to the same branch or company
- Transactions that do not involve any branches or companies
- What
is the first step in configuring
the system for generating balancing entries for interbranch transactions?
- Enable the Inter-Branch Transactions feature on the Enable/Disable Features form
- Define the rules for generating balancing entries on the Inter-Branch Account Mapping form
- Specify the destination branch for the interbranch transaction
- Assign an appropriate account class to the offset account
- What is the purpose of the offset account that is specified in the balancing
rules on the Inter-Branch Account Mapping form? Select all correct responses.
- To post the balancing entry in the originating branch
- To post the balancing entry in the destination branch
- To track the total amount of interbranch transactions
- To calculate the tax implications of interbranch transactions
- To generate financial reports for interbranch transactions