Back To The Basics
Assets and Expenses are examples of this
What are debits
This application allows a user to access settings for all their accounts as well as their balances
What is the Chart of Accounts
Use this ARC function to access the adjustment or reversing options
What is the kebab
This feature lets multiple vendors share a single vendor ID
What are Sites
This document is sent to a customer, and contains their amount due to the dealership
What is an AR statement
This is used in dealerships to track unreconciled accounts
What is a schedule
This control type is selected for accounts such as sales and cost of sales
What is custom control type
At the beginning of Go Live week, auto-posting is set to this status for all options
What is Draft
There are many ways to pay the vendors. This method allows the user to pay all a vendor's invoices at one time
What are consolidated payments
This type of cash receipt is created when purchasing a vehicle
What is a deal cash receipt
Sales, Cost of Sales, and Expenses make up this financial report
What is the Income Statement
It's important to use this function of an app after adding an account to the chart.
What is OEM Mapping
In this setting, the journal entry's description can be set to mandatory
What is Account Global Settings
Invoices age by this date
What is the invoice date
What is the snapshot
This equation demonstrates that, in accounting, debits = credits
What is ACE = LOIS
Typically speaking, an install would not involve adding GL accounts, unless it was taking place during this timeframe
What is End of Year
This reference type is always used when setting up a write off journal entry
What is custom
This type of payment can be done in Vendor Invoices, but not the AP Aging Report
What is a batch payment?
When an error is found in an AR invoice, this application can be accessed to void or partially void the transaction
What is cash receipts
Named after its shape, this is often used as an accounting practice to view the ins and outs of an account.
What is a T Chart
This account is typically used as a cost offset when creating a Sale account.
What is an inventory account
Inter-Franchise entries will create a post both for the user's franchise as well as the second franchise. In order to balance the charts, GL accounts are setup with this control type
What is Franchise
This payment method requires the creation of a different invoice
What is a credit card charge
This setting can prevent a parts or service customer from paying with a charge if the payment would go over their limit.
What is Cashiering settings