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1. Your client has operations in both the US and the UK. They currently use a third-party billing system to process transactions, such as Complete an Invoice, Record a Payment, Record Late Charges, and Recognize Revenue. You are part of the implementation team for the Accounting Hub solution. Your client wants to retrieve chart of accounts values for the line of business segment based on customer classification.
You decide to use the mapping sets functionality to fulfill this requirement.
Which THREE statements are true about using mapping sets?
A) Mapping sets are unique to each sub-ledger application, in order to know which input sources to make available.
B) You can use up to 10 transaction or reference attributes as input in a mapping
C) One mapping set can be used for only one account rule at a time
D) The mappings can be entered only by using the user interface
E) You can define a default output value to use when actual input values do not match the mappings
2. Your client provides loans to its customers. You are appointed as a consultant to implement Accounting Hub Cloud to standardize the accounting process. Your customer wants to retrieve the segment values for the debit and credit side of journal entries based on different criteria.
You decide to create a mapping set to retrieve the value of the cost center segment based on loan type as an input source. Your client wants the values to be validated from a list while creating the input and output mappings.
Which TWO options allow the validation of input values on mapping sets?
A) Chart of accounts segment
B) Segment values
C) Lookup types
D) Value sets
3. Which transaction source is used to link transaction header and line information?
A) Transaction Key
B) Transaction Type
C) Transaction Date
D) Transaction Number
4. While creating an accounting method, you are unable to select a journal entry rule set for a combination of event class and event type.
What could be the reason for this issue?
A) Supporting references assigned to the journal entry rule set are not attached to the same chart of accounts to which the accounting method is attached
B) Description rules assigned to the journal entry rule set are not attached to the same chart of accounts to which the accounting method is attached
C) Journal line rules assigned to the journal entry rule set are not attached to the same chart of accounts to which the accounting method is attached
D) The accounting method is either not attached to any chart of accounts or is attached to another chart of accounts than the journal entry rule set
5. Your client is part of the financial services industry and manages various types of transactions, such as Notional Amount on Trade Positions, Premium Amount, Premium Settlement, and Premium Sweep, in their source system. They want to retrieve the value of the Natural Account segment directly from the source system and are seeking your advice on this requirement.
Which TWO should you factor into your advice on how to register the source system using the spreadsheet template to meet your client requirement?
A) Natural Account should be defined as a "Text" type source
B) Chart of Accounts Value column should be updated with a value of "Yes"
C) Natural Account should be defined as a "Number" type source
D) Natural Account should be defined as a "Long Text" type source
Solutions:
| Question # 1 Answer: A,B,E | Question # 2 Answer: C,D | Question # 3 Answer: D | Question # 4 Answer: D | Question # 5 Answer: A,B |
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