Funds Transfers: Test Pool (ML-Generated)

  1. In Acumatica ERP, what types of cash transfers can be recorded? (Select all correct responses.)
    • Cash transfers from one bank account to another
    • Cash transfers between cash accounts that are linked to the same GL account
    • Cash transfers between cash accounts that are NOT linked to the same GL account
    • Cash transfers from a company's checking account to a personal savings account
  2. What is the purpose of registering a charge associated with a funds transfer?
    • It allows you to record a service fee associated with the transfer.
    • It helps you to track the amount of money transferred between bank accounts.
    • It ensures that the funds transfer is completed securely and accurately.
    • It provides a record of the date and time the funds transfer took place.
  3. What does the system do when a funds transfer is released? (Select all correct responses.)
    • Changes the status of the funds transfer to Released
    • Generates transactions to be posted to the general ledger
    • Automatically balances the transfer and updates the cash account
    • Updates the reconciliation statement for the cash account