AR Invoices: Test Pool (ML-Generated)

  1. What is an invoice in Acumatica ERP?
    • A request for payment for goods or services provided by a company, including quantities, costs, and due dates
    • A document that tracks inventory levels and updates stock quantities
    • A report that summarizes financial transactions and calculates profit margins
    • A tool for managing customer relationships and tracking sales leads
  2. What information is specified for an invoice on the Details tab of the Invoices and Memos form?
    • Each product or service that is being sold to the customer
    • The payment method and terms for the invoice
    • The shipping address and delivery instructions for the order
    • The customer's credit limit and location
  3. What are the possible statuses of an invoice during processing? (Select all correct responses.)
    • On Hold
    • Credit Hold
    • In Review
    • Awaiting Payment
    • Processing Complete
  4. What does the Closed status of an invoice mean?
    • The full balance of the invoice has been paid.
    • The invoice is pending approval and has not been released yet.
    • The invoice is on hold and cannot be processed at the moment.
    • The invoice has been voided and is no longer valid.
  5. What happens in the system when a user releases an invoice? (Select all correct responses.)
    • The invoice is assigned the Open status, and a batch is generated to debit the AR account and credit the income account in the amount of the invoice.
    • The customer balance is updated by the amount of the invoice.
    • The invoice is automatically sent to the customer by email.
    • The invoice is marked as paid and is removed from the system.
  6. What can a user do with an open invoice? (Select all correct responses.)
    • Print the open invoice
    • Send the open invoice to the customer by email
    • Edit the amount of the open invoice
    • Delete the open invoice from the system
    • Change the status of the open invoice to On Hold
  7. What report or inquiry can you use to review the details of a released invoice?
    • AR Register Detailed
    • AR Balance by Customer
    • Customer Details
    • Invoice/Memo
  8. Which report or inquiry can you use to review a customer's balance? (Select all correct responses.)
    • AR Balance by Customer
    • Customer Details
    • AR Register Detailed
    • Invoice/Memo