DAY 1
How many days are in the accounting close process
5 days
On the Operating ledger, the DT column stands for
Document Type
What are the 2 contract types
Consumer and Client
What standard can you use to complete a balance sheet scrub?
FAS-3200
What is the abbreviation for Reclass
RCL
The system used by Field Accounting as the system of record is
SAP
If an entry was Entered by BTC_IUS, where did the transaction come from
myfinance or the unit's in unit system
What Does PPC Mean
Profit Per Contract
When can accountants expect to receive the balance sheet scrub file?
Weekly on Monday as well as Day 1 & 3 of close
All Line item text should start with a
Verb
G/L numbers that range from 200000-299999 account for
Liabilities
In the Business Line, what does the middle number represents
The Complex Number
In a Consumer model Compass's profitability is impacted by
ATL and BTL entries
Why is it important to consistently complete the balance sheet scrub on a weekly basis?
To reduce the amount of ABS you have to complete after close
If I am moving an expense from one unit to another unit, I am doing what?
Transferring or Doing a transfer
What sector is directly supported by the Mobile, AL field accounting service team?
Morrison
Running the operation ledger report with only the period, year and unit number is running how?
wide open
A client or Fee P&L should have what fee(s)
Management and/or Admin Fee(s)
What accounts should you NOT expect to see on the balance sheet scrub?
G/L's beginning with a 3-9
If an invoice for P7 posted to the ledger in P8, the accountant should
Post an accrual
What is the last month of Compass's year (P12)
September
If I want a list of all the units in a complex or contract I can run what report?
ZContacts
The monthly invoice that the client receives when they are not profitable is
Subsidy
If an unfamiliar balance is in a G/L account, what is the first appropriate action?
Check SAP to determine the components of the unfamiliar balance
When pasting your journal entry into SAP which company code should be used
The company code for the first line of the JE