Managing the Banking Process

Posting Journal Entries

Exploring the Chart of Accounts

Managing the Banking Process

Posting Journal Entries

Exploring the Chart of Accounts

Knowledge quiz

It's time to put what you've learned to the test, get 2 right to pass this unit.

1.

There are two correct answers.

The first level title names cannot be changed.

Accounts that appear in green are defaults defined in the G/L Account determination window.

The order of accounts in financial reports is taken from the chart of accounts structure.

You can define the same G/L account as Title and Active account type.

2.

There are two correct answers.

They are typically located in the top 3 level 1 titles of the chart of accounts.

Their bookkeeping balance is kept from one fiscal year to the next.

They are typically located in the lower level 1 titles of the chart of accounts.

They appear in the profit and loss report.

Learning