CCP Financial Management in CargoWise 4

Question 1

What is the role of 'Payment Terms' configured on a debtor profile in CargoWise?

Accepted Answer

They automatically calculate the invoice due date based on the invoice date

Answer

Payment Terms (e.g., Net 30) on a debtor profile automatically calculate the due date when an invoice is created.

Question 2

Which CargoWise report provides a detailed breakdown of profit and loss by individual shipment job?

Accepted Answer

Job Profit Report

Answer

The Job Profit Report in CargoWise shows revenue, costs, and margin at the individual shipment level.

Question 3

In CargoWise, what is a 'Withholding Tax' configuration used for?

Accepted Answer

To automatically deduct a tax percentage from supplier payments as required by tax law

Answer

Withholding Tax configuration enables CargoWise to automatically deduct the mandated tax from payments to certain suppliers on behalf of tax authorities.

Question 4

What does the 'Outstanding Creditor Report' in CargoWise show?

Accepted Answer

Unpaid creditor invoices grouped by supplier and aging period

Answer

The Outstanding Creditor Report lists all unpaid supplier invoices aged by overdue period to support accounts payable management.

Question 5

In CargoWise, which financial posting type represents revenue earned from freight services rendered to customers?

Accepted Answer

Income Posting

Answer

Income Postings in CargoWise record revenue recognized when freight services are invoiced or accrued.

(CCP) CargoWise Certified Professional Practice Test

(CCP) CargoWise Certified Professional Practice Test

CCP Financial Management in CargoWise 4