Tr - Fa8 - Billing
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This quiz, titled 'TR - FA8 - Billing', assesses knowledge on billing procedures within a finance system, including prebill requirements, bill posting, and mass edits. It's designed for learners to understand and manage billing activities effectively, focusing on practical applications in a corporate setting.
- 1.
The system requires you to print prebills and bills.
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
The statement suggests that the system requires printing both prebills and bills. However, the correct answer is false, indicating that the system does not require printing prebills and bills.Rate this question:
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- 2.
Prior to performing a mass edit to time details you must first select or __________ the details to be edited.
Correct Answer
tagExplanation
Before performing a mass edit to time details, you must first select or "tag" the details to be edited. This means that you need to identify or label the specific time details that you want to edit before making any changes. By tagging the details, you can ensure that only the selected items will be affected by the mass edit, allowing for more efficient and accurate editing.Rate this question:
- 3.
Bills can be posted via the Posting Manager.
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
The statement "Bills can be posted via the Posting Manager" is incorrect. The correct answer is False. This means that bills cannot be posted using the Posting Manager.Rate this question:
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- 4.
The Billing _______________________ is the home base for all billing activities.
Correct Answer
Desktop - 5.
Which matters would be included on the same consolidated bill? Matter Bill Group Bill Client Consolidate Flag 1 MAIN 10000 YES 2 2 10000 YES 3 MAIN 10000 YES 4 MAIN 10000 NO 5 MAIN 20000 YES 6 2 10000 NO
- A.
1
- B.
2
- C.
3
- D.
4
- E.
5
- F.
6
Correct Answer(s)
A. 1
C. 3Explanation
The matters that would be included on the same consolidated bill are 1 and 3. This is indicated by the "Consolidate Flag" column, where the value is "YES" for both matters 1 and 3.Rate this question:
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- 6.
The Trust __________ feature is used to apply payments to bills from trust during billing.
Correct Answer(s)
ReservesExplanation
The Trust Reserves feature is used to apply payments to bills from trust during billing. This means that when a client has funds in a trust account, those funds can be used to pay for any outstanding bills. The Reserves feature allows for the automatic allocation of trust funds to cover the expenses, ensuring that the client's trust account is properly utilized and that bills are paid in a timely manner.Rate this question:
- 7.
Once you change a bill amount it cannot be undone.
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
This statement is incorrect. It is possible to change a bill amount after it has been initially set. This can be done through various means such as requesting a refund, negotiating with the bill issuer, or disputing the charges. Therefore, the correct answer is False.Rate this question:
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- 8.
Which view would be the best one to use to decrease the total for all copy charges?
- A.
Disbursement Detail
- B.
Prebill Summary
- C.
Disbursement Summary
Correct Answer
C. Disbursement SummaryExplanation
The Disbursement Summary view would be the best one to use to decrease the total for all copy charges. This view provides a summarized overview of all disbursements, including copy charges. By analyzing the Disbursement Summary, one can identify areas where copy charges are high and take necessary actions to reduce them, such as negotiating lower rates with copy vendors or implementing cost-saving measures.Rate this question:
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- 9.
If you deselect a time or disbursement entry it…
- A.
Goes back to WIP.
- B.
Is deleted for good.
Correct Answer
A. Goes back to WIP.Explanation
When you deselect a time or disbursement entry, it goes back to WIP. This means that the entry is no longer considered as completed or finalized. Instead, it is returned to the Work in Progress (WIP) status, indicating that it is still in progress and can be further edited or modified. This allows for flexibility and the ability to make changes to the entry before finalizing it.Rate this question:
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Current Version
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Jun 19, 2024Quiz Edited by
ProProfs Editorial Team -
Jul 06, 2012Quiz Created by
Catherine Halcomb
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