Free 1D0-1060-26-D Mock Exam – Practice Online Confidently

Your client has operations in the US and the UK, and they currently use a third-party billing system to process their transactions, such as Complete an Invoice, Record a Payment, Record Late Charges, and Recognize Revenue. As part of the Accounting Hub implementation, you have been asked to register the billing source system. While registering the source system using the spreadsheet template, which TWO could be flagged as errors by the validation check process? 

Your client has implemented the Accounting Hub Cloud solution. They import their transaction data from the source system on a daily basis, and while doing so, some transactions are not being accounted properly. They want these invalid transactions purged and the correct transactions re-imported. Which job would you submit to purge the invalid transactions? 

The company 'Insurance for Homes' provides home insurance services. It has an in-house system that processes home insurance payments received from customers. The end result of the process consists of a list of individual journal entries in a spreadsheet. The company wants to get all journal entries in a secure and auditable repository. Access will be limited to a select few staff members. Additionally, these staff members will need to be able to report and view the entries using an advanced reporting and analytical tool for slicing and dicing the journal entries. Insurance premium is to be recognized as income across the coverage period of the insurance policy. Which types of journal lines need to be set up to generate recurring journal entries for insurance premium in each accounting period? 

Your company is part of the financial services industry and manages various types of transactions, such as Notional Amount on Trade Positions, Premium Amount, Premium Settlement, and Premium Sweep in their source system. While analyzing their source transaction system, you are asked to propose an event model, based on the activities performed by the company. According to your analysis, what should the Notional Amount on Trade Positions, Premium Amount, Premium Settlement, and Premium Sweep transactions be defined as while registering the source system?

Your client provides loans to their customers. You are appointed as a consultant to implement Accounting Hub Cloud and standardize the accounting process. Your client wants to retrieve the segment values for the debit and credit side of journal entries based on different criteria. Which FOUR value types should you use in the definition of your account rules to generate journal entries as per the customer's requirement?