Page 37 - Participant Guide ebook - Unanet GovCon Using General Ledger

Lesson 3: GENERAL LEDGER TRANSACTIONS

1. What is used by GL Users and GL Posters to enter GL transactions that
need to be reflected in the financial statements but do not flow naturally
from other input screens?
a) AP Invoices - This is an incorrect answer because AP Invoices
process flows through the system by posting to the GL
b) GL Journal Entries - This is the correct answer because GL
Journal Entries are used to enter transactions that need to be
reflected in the financial statements but do not flow naturally from
other input screens
c) AR Payments - This is an incorrect answer because AR Payments
process flows through the system by posting to the GL

2. What is required in order for a Journal entry to be submitted?
a) Attachments - This is an incorrect answer because this is optional
b) Description - This is an incorrect answer because this is optional
c) Totals of Debits = Credits - This is the correct answer because
the system supports Accounting Principles where Debit entries are
equal to Credit entries

3. What status should the GL Poster search for to show the results of the
journal entries that are ready to be Posted?
a) Inuse - This is an incorrect answer because a journal entry in Inuse
status cannot be posted
b) Completed - This is an incorrect answer because a journal entry
does not have this status in Unanet
c) Submitted - This is the correct answer because a journal entry in
Submitted status can be posted

APPENDIX A: CHECK YOUR UNDERSTANDING ANSWER KEY
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