Implement and Manage Accounts Receivable MB-310 Practice Questions (Page 1)

Questions 1–5

1. 1expert · hard

   A company processes customer payments via both EFT and checks. They want to store bank account details for EFT customers, but for check payments, they do not need bank details. The accounts receivable manager wants to ensure that the payment method determines whether bank details are required. What should you configure?

   • AConfigure the payment journal to require bank details for EFT payments only.
   • BRequire bank details for all customers regardless of payment method.
   • CUse the customer's bank account as the default for all payment methods.
   • DSet up the EFT payment method with a payment type that requires bank details, and the check payment method without that requirement.
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2. 2application · medium

   A customer places a sales order and pays a 20% prepayment using a bank transfer. After the goods are delivered, you need to invoice the remaining 80% and ensure the prepayment is applied to the invoice. What should you do?

   • APost a prepayment journal for the customer, then when posting the sales order invoice, mark the prepayment to be settled against the invoice.
   • BRecord the prepayment as a general journal entry and then post the sales order invoice without any further action.
   • CCreate a free text invoice for the remaining 80% and manually reduce the amount by the prepayment.
   • DPost the full sales order invoice and then create a credit memo for the prepayment amount.
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4. 3expert · hard

   You have a customer group 'Government' that requires a specific posting profile for all transactions. However, one customer in this group needs to use a different posting profile for free text invoices only. You need to configure this without affecting other transactions for that customer. What should you do?

   • ACreate a new customer group for that customer and assign the specific posting profile to the new group.
   • BChange the posting profile on the customer record to the specific one, and then manually change it back after posting free text invoices.
   • CCreate a customer posting profile for the specific customer and assign it to the customer record, and use a billing classification on the free text invoice to override the posting profile.
   • DUse the billing classification to override the posting profile for all transactions for that customer.
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5. 4application · medium

   A company has two legal entities: the selling entity and the buying entity. When a sales order is posted in the selling entity, an intercompany purchase order and invoice should be automatically created in the buying entity. What should you configure?

   • ASet up a customer posting profile for the buying entity and use it on the sales order.
   • BSet up intercompany parameters for both legal entities and enable the 'Create intercompany purchase order' and 'Post invoice automatically' options.
   • CCreate a sales order in the selling entity and manually create a purchase order in the buying entity.
   • DUse the 'Intercompany' button on the sales order to create the purchase order, but you must post the invoice manually.
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6. 5application · medium

   You need to add a freight charge to a sales order invoice. The charge should be posted to a specific ledger account and appear as a separate line on the invoice. You have already set up a charges code. What is the next step?

   • ACreate a free text invoice with the charges code as a line.
   • BAdd the charges code to the sales order header or lines and specify the charge value.
   • CPost the sales order invoice first, then add the charge as a separate adjustment.
   • DAssign the charges code to the customer posting profile.
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