Free Dumps for NetSuite Financial User Exam

dumps2024-05-04T09:12:46+08:00

The NetSuite Financial User certification confirms individuals have the foundational knowledge needed to navigate NetSuite and understand core NetSuite accounting and finance functionality. NetSuite Financial User certification is for those who have passed the NetSuite Financial Management. We have cracked the latest NetSuite Financial User exam dumps, which are valuable in your preparation. Free NetSuite Financial User exam dumps are available below.

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1. How can the financial reports be kept separate when tracking finances for two wholly owned but distinct legal entities in one NetSuite account?

use separate fiscal calendars

use classes

use the multi-book accounting feature

use subsidiaries

2. which two steps are recommended to track travel expenses by department (choose 2)

make department options

use separate general ledger accounts for each internal department expenses

make department mandatory

share general ledger accounts between departments

3. How does NetSuite set up a company record when you buy from and sell to the same company?

either the vendor or the customer can be set as "Parent of" the other record to link them

NetSuite tracks this using the "Other relationship" functions to link the customer and vendor records

NetSuite uses a single company record to track this combined relationship

NetSuite uses unrelated customer and vendor records to track these

4. Which 3 statements are true about parent accounts in NetSuite (choose 3)?

child accounts are created by setting the subaccount of field

checking the summary box allows the posting of reversing journal entries to this account

parent accounts can be posting or not posting

parent accounts are created by setting the "parent of" field

checking the summary box on the account record prevents anyone from posting activity to the account

5. which two settings are needed for billable items to appear on the customer invoice (choose 2)

billable checkbox

customer

invoice number

memo

6. which 2 record types can be applied to customer payment (choose 2)

refund

credit memo

customer deposit

cash sales

7. which transaction transfers the customer deposit liability to offset the invoice accounts receivable GL impact?

sales order

journal entry

deposit application

credit memo

8. A sales order should be billed when certain key project tasks have been completed

time and material

charge based

fixed bid milestone

standard

9. which statement is true about assigning a billing schedule to an item record?

it forces all the lines on sales order to have billing schedule

it requires that items on the same sales order have billing schedule of some kind

it requires that all items on the sales order used same billing schedule

it ensures that item will always have the billing default in correctly on the sales order

10. Which two statements are true about vendors and multicurrency (choose 2)

vendors can have up to 5 currencies

the currency on the purchase order can be changed at the point when purchase order is billed

the primary currency is used for the credit limit

to remove a currency from a vendor, you must first close any open transactions in that currency

currencies must be added to the Vendor before being used on transaction

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11. Characteristics of purchase order in NetSuite?

purchase in the currency the of the vendor's primary subsidiary

purchase order must be in the primary currency of the vendor

a purchase requisition is required before creating a purchase order

purchase orders have no accounting/GL impact

12. Write Check transaction and a Pay Vendor transaction the difference?

only pay vendor bill post to the general ledger

only pay vendor bill reduces AP

only write checks reduces AP

only write checks is from bank account

13. To which account should the customer payments be posted, to consolidate all customer payments recorded through the day into one bank deposit at the end of the day?

customer deposits

Bank account

undeposited funds

accounts receivable

14. Bank accounts interact with subsidiaries?

can be linked with no limit to multiple subsidiary

can be linked with any number of subsidiaries in parent: child relationship

can be linked up to 2 subsidiaries

Must be linked with 1 subsidiary

15. The simplest way to post bank service fees ... reconcile bank statement pages?

post a write check transaction

enter on the new deposit subtab

Enter on the new charge's subtab

post journal entry

16. Which two boxes must be used to reverse the journal entry next month (choose 2)

Defer entry

memo

pending approval

Reversal date

do not post until

17. What two transactions cause a Bill Variance journal entry to be posted?

Item receipt

purchase order

bill payment

purchase requisition

Vendor bill

18. On which financial statements are invoices summarized?

income statement

Balance sheet

account payable aging

general ledger

19. Which is recommended for setting up new accounting periods?

use one-day year end adjustment period for year-end closing journal entries to retained earnings

create accounting period one at a time to avoid multiple open periods

Use set-up full year to generate all periods at once for full year

set up new year and new quarter at the beginning of the fiscal year

20. What are two considerations for managing multiple fiscal calendars? (Choose 2)

A fiscal calendar can be used by multiple subsidiaries

Periods are created separately for each fiscal calendar

Periods are shared across fiscal calendars

a subsidiary can have multiple fiscal calendars without multi-book

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21. Which statement is true about inter-company journal entries?

Minimum of four lines

used to log intercompany eliminations

balance within each subsidiary, they need not balance between subsidiaries

maximum of six lines

22. Which statement is true about budgets in NetSuite?

budgets must be entered manually

budgets can only be created for income and expense accounts

budgets hold setting for expenses will prevent overspending

Multiple budgets can be created for the same year and criteria

23. Which two statement are true about setting up the intercompany expense allocation (choose 2)

the source may be multiple subsidiary

The target may be multiple subsidiaries

The source must be one subsidiary

the target can only be one subsidiary

24. Which expense allocation use case requires the use of statistical accounts?

static division of rent-based location

predefined split of marketing costs among sales channels

even 50/50 split of receptionist salary based on department

Division of recruiting based upon headcount

25. Which are 2 elements unto to setting up financial sections in NetSuite financial report? (Choose 2)

custom sections are restricted to one account type

formula rows calculate from the row immediately above

Each financial section has its own header and summary row

Each section can be customized to have multiple account types

26. What is the purpose of an elimination subsidiary?

Entering non-posting transactions

Posting non-auditable transactions

Offsetting expenses between departments

Offsetting intercompany transactions

Free Dumps for NetSuite Financial User Exam

Free Dumps for NetSuite Financial User Exam

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