Page 77 - Unanet GovCon Using Billing Revenue - Participant Guide ebook

5. What Project setting is made to align with Accounting policy which state
not to recognize "at-risk” revenue if there is uncertainty surrounding
whether additional funding will be received for the project?
a) Limit Billing to Funded Value - This is an incorrect answer because this
setting is used to cap the value on the invoice not revenue
b) Limit Revenue to Funded Value - This is the correct answer because
this setting is used to cap the value of revenue to be recognized
c) Billing Invoice Setup - This is an incorrect answer because the billing
invoice setup doesn’t include access to limit revenue

6. Saving changes to deferrals or write-offs will trigger a general invoice
recalculation process which has the potential to recalculate Invoice and
Discount Amounts. If done in error, how do you return an item back to the
draft invoice?
a) Delete and recreate the Draft invoice - This is the correct answer
because once a deferral or write-off has been made on a draft invoice,
the only way to get those items back is to delete and recreate the
invoice again. An invoice can be edited or deleted until it is completed
b) Void the Draft invoice - This is an incorrect answer because a Void is
only done for an invoice that has been Completed
c) You cannot edit an invoice while it is in Draft status - This is an
incorrect answer because an invoice can be edited or deleted until it is
completed then it will need to be voided

APPENDIX A: CHECK YOUR UNDERSTANDING ANSWER KEY
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