Online Access Free 1Z1-1060 Exam Questions

A new source system has been registered into Accounting Hub Cloud. Users are actively using this new subledqer. Subsequently, the business signed up a contract with a new supplier. A new mapping value that maps suppliers with the accounts needs to be added. You make updates on the mappings in the existing mapping set rule by adding more mapping valued.
After saving the update, what is the next required action?

• A.There is no required action. The mapping addition is complete.
• B.Download a new transaction data template.
• C.Activate the journal entry rule set.
• D.Activate the accounting method.

While creating a journal entry rule set you are NOT able to use an account rule that was created recently.
Which two reasons can explain this?

• A.The account rule is using sources that have not been assigned to the same event class that is associated to the journal entry rule set.
• B.The account rule does not return any valid account value.
• C.The account rule is defined with a different chart of accounts from the journal entry rule set.
• D.The account rule is defined with conditions that are not allowing the assignment.

In the process of analyzing data from a source system you find that there are no reliable amounts that can be used to build a subledger journal entry.
How can you resolve this challenge?

• A.Use a custom formula in a description rule to derive amounts.
• B.Use a custom formula in a supporting reference to derive amounts.
• C.Use a custom formula in a journal line rule to derive amounts.
• D.Use a custom formula in an account rule to derive amounts.

Given the business use case:
'New Trucks' runs a fleet of trucks in a rental business In the U.S. The majority of the trucks are owned; however, in some cases, 'New Truck' may procure other trucks by renting them from third parties to their customers. When trucks are leased, the internal source code is 'L'. When trucks are owned, the internal source code is 'O'. This identifies different accounts used for the Journal entry. Customers sign a contract to initiate the truck rental for a specified duration period. The insurance fee is included in the contract and recognized over the rental period. For maintenance of the trucks, the "New Trucks* company has a subsidiary company
'Fix Trucks' that maintains its own profit and loss entity. To track all revenue, discounts, and maintenance expenses, 'New Trucks' needs to be able to view: total maintenance fee, total outstanding receivables, rental payment discounts, and total accrued and recognized insurance fee income.
What would the typical line information be?

• A.Company
• B.Truck Type
• C.Customer Number
• D.Transaction Date

You are implementing Fusion Accounting Hub for your external Accounts Receivables system. The external system sends invoices billed and cash receipts in a flat file, along with the customer classification information.
You want the accounting amounts to be tracked by customers too but you do not want to add a Customer segment to your chart of accounts.
What is the solution?

• A.Capture customer information as the source and develop a custom report using Online Transactional Business Intelligence (OTBI).
• B.Use the Third Party Control Account feature.
• C.Use the Open Account Balances Listing report that has balances by customer.
• D.Use Supporting References to capture customer classification information.