Intercompany Funds Transfers: Test Pool (ML-Generated)
- What does the system do when an intercompany transaction related to a funds
transfer is posted?
- Adds balancing entries to the batch according to the account mapping rules that have been specified in the system
- Automatically generates a report summarizing the transaction details
- Generates a separate batch for the destination cash account
- What steps are involved in transferring funds between companies that use
different base currencies? (Select all correct responses.)
- Specifying the source account and destination account on the Funds Transfers form
- Processing an outgoing payment in the source company
- Converting the funds to a universal currency before transferring them
- Adjusting the exchange rate between the base currencies of the two companies
- In what situations would you create intercompany funds transfers? (Select all
correct responses.)
- You need to redistribute funds among the companies of your organization, such as reconciling due-to and due-from amounts.
- You need to transfer funds between companies that use different base currencies.
- You need to transfer funds between companies that are not part of the same organization.
- You need to transfer funds between companies that are configured in different tenants.
- What is the purpose of entering an intercompany funds transfer on the Funds
Transfers form?
- To transfer funds from one company to another company within the same tenant
- To convert funds from one currency to another currency within the same company
- To distribute funds among different tenants within the organization
- To reconcile due-to and due-from amounts between companies