Page 32 - Participant Guide - Unanet GovCon Using Accounts Receivable

APPENDIX A: CHECK YOUR UNDERSTANDING ANSWER KEY

Lesson 1: ACCOUNTS RECEIVABLE (AR)

1. What Financials administrative items are required to process Accounts
Receivable transactions?
a) Payment terms, bank accounts and payment methods - This is an
incorrect answer because Active Customer orgs and profiles are
also required
b) Inactive Customer orgs and profiles and payment terms - This is an
incorrect answer because Active Customer orgs and profiles,
payment terms, bank accounts, and payment methods are required
c) Active Customer orgs and profiles, payment terms, bank
accounts, and payment methods - This is the correct answer
because all listed items are required to process AR transactions in
Unanet

2. In the Customer Organization, what crucial component makes it possible
to process customer transactions?
a) Customer profile exists and is active - This is the correct answer
because to process customer transactions in Unanet requires an
active Customer profile
b) Customer Contacts - This is an incorrect answer because
Customer Contacts are not required to process customer
transactions in Unanet
c) Customer Market Data – Stock Symbol - This is an incorrect
answer because Customer Market Data – Stock Symbol is an
optional field in Unanet

3. What is the associated Payment Type when using a Payment Method to
process ACH payments?
a) Check - This is an incorrect answer because the Payment Type of
a Check is used to process Customer Payments received via check
b) Other - This is the correct answer because to process ACH
payments the Payment Type is Other
c) Bank - This is an incorrect answer because Bank is a Bank Type
and not a Payment Type used in Unanet

APPENDIX A: CHECK YOUR UNDERSTANDING ANSWER KEY
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