Cash Entries: Test Pool (ML-Generated)

  1. What scenarios would require the use of a cash entry transaction in Acumatica ERP? (Select all correct responses.)
    • Recording a bank charge
    • Recording income from interest
    • Recording an unknown payment
    • Recording a customer payment
    • Recording a purchase order
  2. What are the two types of cash entries in Acumatica ERP? (Select the responses describing the two types of cash entries in Acumatica ERP.)
    • A receipt entry, which increases the balance of the selected cash account. Entries of this type can include recording amounts earned on interest-bearing bank accounts or other investments.
    • A disbursement entry, which decreases the balance of the selected cash account. This entry type includes transfer charges and bank service charges.
    • An adjustment entry, which allows for corrections to be made to the balance of the selected cash account. This entry type is used for reconciling errors or discrepancies.
    • A credit entry, which increases the balance of the selected cash account. Entries of this type can include recording customer payments or refunds.
    • A debit entry, which decreases the balance of the selected cash account. This entry type includes recording vendor payments or expenses.
  3. What does the system do when a cash entry is released? (Select all correct responses.)
    • Changes the status of the cash entry to Released
    • Generates a GL batch
    • Generates a sales report
    • Automatically adjusts the cash entry to balance the general ledger
    • Updates the reconciliation statement for the cash account