Podcast
Questions and Answers
Under which main module would you typically find the function to define new warehouses in a business management system?
Under which main module would you typically find the function to define new warehouses in a business management system?
- Purchases
- Admin (correct)
- Financials
- Inventory
A company needs to record a transaction where goods were returned by a customer. Which sequence accurately reflects this process within the system?
A company needs to record a transaction where goods were returned by a customer. Which sequence accurately reflects this process within the system?
- Sales Order → Shipment → Invoice → Cash-Inflow-Customer
- Sales Order → Shipment → Invoice → A/P Debit Memo → Cash Outflows - Supplier
- Sales Order → Shipment → Sales Return → Invoice → Cash-Inflow-Customer (correct)
- Sales Order → Shipment → Invoice → A/R Credit Memo → Cash-Inflow-Customer
In which module would you likely find the 'Bill of Materials' function within a manufacturing company's business system?
In which module would you likely find the 'Bill of Materials' function within a manufacturing company's business system?
- Treasury
- Production (correct)
- Service
- Inventory
To record payments made to suppliers, which of the following modules would be most appropriate?
To record payments made to suppliers, which of the following modules would be most appropriate?
Where in the system would a user typically navigate to adjust accounting periods (e.g. month-end or year-end)?
Where in the system would a user typically navigate to adjust accounting periods (e.g. month-end or year-end)?
A company needs to issue items from a warehouse due to fire damage. In which module and function would this transaction be recorded?
A company needs to issue items from a warehouse due to fire damage. In which module and function would this transaction be recorded?
A customer makes a down payment before receiving their goods. Which of the following represents the correct procedure for this scenario?
A customer makes a down payment before receiving their goods. Which of the following represents the correct procedure for this scenario?
A business provides maintenance services for equipment sold to customers. Where would you typically document the details of customer-specific equipment?
A business provides maintenance services for equipment sold to customers. Where would you typically document the details of customer-specific equipment?
What series modules are included for items sold on credit?
What series modules are included for items sold on credit?
Which sequence accurately reflects the flow of documents and actions in a typical purchase process, beginning with initial order and ending with payment?
Which sequence accurately reflects the flow of documents and actions in a typical purchase process, beginning with initial order and ending with payment?
Flashcards
System Admin
System Admin
Admin section for initial setup, configurations, and utilities management.
Financials Module
Financials Module
Records all financial transactions and generates financial reports.
Purchases Module
Purchases Module
Manages the purchasing process, from requests to vendor payments.
Sales Module
Sales Module
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Treasury Module
Treasury Module
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Inventory Module
Inventory Module
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Customer/Suppliers Module
Customer/Suppliers Module
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Production Module
Production Module
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Service Module
Service Module
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Standard Sales Flow
Standard Sales Flow
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Study Notes
- This document outlines the key features and processes within a business management system, covering areas from administration and financials to sales, inventory, and service.
Admin
- System configuration is available.
- Setup options include banking and inventory definitions.
- Utilities, approval procedures, alerts, tasks, links, extensions, and audit trails are available.
- Various reports can be generated.
Financials
- Chart of accounts can be managed.
- Journal vouchers and journal entry records are used.
- Closing period and recurring postings are defined.
- Financial reports can be generated.
Purchases
- Purchase requests and purchase orders are available.
- Receiving and purchase return processes are used.
- AP vouchers and debit memos can be processed.
- A variety of purchasing reports exist.
Sales
- Cash sales, sales quotes, and sales orders are available.
- Shipment and invoice processes are used.
- Sales returns and AR down payments can be processed.
- Options for receivables and credit memos exist.
- A variety of sales reports are available.
Treasury
- Cash inflows from customers and suppliers are recorded.
- Cash outflows to customers and suppliers are recorded.
- Bank deposit, checks, and bank reconciliation functions are used.
- Credit memos, debit memos, and Western Union transactions can be processed.
- Treasury reports are available.
Inventory
- Items and item management features are available.
- Inventory transactions can be tracked.
- Options for re-packing, inter-branch transfers, and pick and pack processes exist.
- Inventory inquiry and reports are available.
Customer/Suppliers
- Customer and supplier information can be managed.
- Customer control numbers and supplier services are tracked.
- Inquiry and reporting functions exist.
Production
- Bills of materials and production resources can be managed.
- Production orders, issue for production, and receipt from production processes are used.
- Production reports are available.
Service
- Service call logs and service records are available.
- Customer equipment cards and CRM service features are used.
- Mobile services can be managed.
- Service reports are available.
Sales Process
- The sales process involves sales orders, shipment, invoice, and cash inflow from the customer.
Sales Process with Sales Return
- Includes sales orders, shipment, sales return, invoice, and cash inflow from the customer.
Sales Process with Credit Memo
- Includes sales orders, shipment, invoice, AR credit memo, and cash inflow from the customer.
Defining Warehouse
- Warehouses are defined during admin setup in the inventory section.
Inventory Transactions
- Item receipts and issuance are tracked as inventory transactions.
- Item transfers are managed as inventory transactions.
- Features for batches and serial numbers related to items are available.
Adding Items
- Adding of items is done via Inventory > Items.
Transactions
- Purchase Orders - Receiving - A/P Voucher - Sales Order - Shipment transactions are available.
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Description
Explore the features of a business management system. This document covers administration, financials, sales, inventory, and service functionalities. It details key processes like purchase orders, sales invoices, and financial reporting.
