You should know this.
Name the folder that entries are saved after they are posted.
Approved and Posted Folder.
True or False. On Monthly Day 3, any entry after 8:00PM EST should be posted by a member of management team.
False. Temporarily suspended while recover from the pandemic, currently leads can post through 9pm.
Who should post and entry created by the accounting lead?
A member of the management team.
After how long a new accountant can be considered to post their own entry (less than 1K).
After 6 months.
During month end close all remaining entries during the day (except monthly day 3) must be submitted no later than...
6:15 PM
Name the folder where you save AP and AR entries.
AR, AP & Quadrate Ready to Review folder
In what order a JE created in SAP should be submitted.
1. Simulation Page.
2. JE template.
3. All supporting documentation.
True or false. It is not a requirement per FAS-2100 to put your backup in order when creating your journal entry, it is just helpful to your reviewer if you do so.
False, it is a requirement.
Who approves the posting authority for new accountants?
Per FAS-2100 "The employee's Director"
In what folder you should save entries that require additional corporate approval.
"CAS Approval" folder located under the "Ready to Review" folder.
When signing the PDF in Accrobat what reason should be selected?
"I'm approving this document."
True or false
Day 5 entries can be posted by leads.
True
What is the non-close deadline for journal entries?
7:00 PM EST
On day 3, what time MUST Leads, Supervisor and Managers be available until (unless given other instructions)?
7:45PM
True or false.
Once corporate approval is obtained, we should move the PDF document to the "Approved and Posted" folder without any changes.
False. Save a second PDF document to the same Approved and Posted folder adding a "CAS Approval" suffix to the end of the file name.
Who is your first level of approval when submitting JE.
Accounting Lead
Required in your entry when submitting on day 5.
PBO and Revenue impact on same page.
What is the posting deadline for the contracts team?
10:00 PM EST
During period end close, what time accountants should submit their first round of journal entries?
3:00 PM EST
True or false.
The FAS team does not file entries that require corporate approval. They are file by the management team due to a special review.
False. The FAS team files both, FAS and CAS approval backup, during the archive process.
What is the naming convention for JE's? and explain what they represent.
FASXX-XXXX / FASXX-XXXXX, where the XX is the posting period and XXXX(X) is within the assingned JE range per associate.
Where do you find the PBO and revenue impact?
JE template: PBO and Revenue tracker columns.
True or false. The contract team does not need to include the PBO and Revenue impact on day 5 entries?
False, they do need to include PBO and Revenue impact on day 5 entries.
During month end close- if an entry is posted past the deadline, give the title of who needs to post it and the reason why.
FS Director, to validate that the entry does not negatively impact contract team reporting.
True or false.
The management team can post their own entries only IF all lines on the entry are below their approval threshold.
False. Management team members should NEVER post their own entry, even if all lines on the entry are below the approval threshold, for the sake of Quality Park/Post reporting purposes.