CCP GL Integration & Revenue Recognition 2

Question 1

In CargoWise, which posting rule configuration controls whether a revenue transaction posts to GL upon job confirmation or invoice generation?

Accepted Answer

Posting Trigger on the Revenue Code

Answer

The Posting Trigger on the Revenue Code determines whether GL entries are created at job confirmation or when an invoice is generated.

Question 2

When a multi-currency invoice is posted in CargoWise and the exchange rate has changed since the original transaction, what GL account captures the resulting difference?

Accepted Answer

Realized Foreign Exchange Gain/Loss Account

Answer

When the invoice is settled at a different exchange rate than when it was posted, the difference is recorded in the Realized Foreign Exchange Gain/Loss account.

Question 3

A freight invoice is raised in CargoWise with a tax code. Where in the GL does the tax component of that invoice post by default?

Accepted Answer

Into the Tax Payable/Receivable account linked to the Tax Code

Answer

CargoWise posts the tax component to the Tax Payable or Receivable GL account configured on the Tax Code setup.

Question 4

Which CargoWise function allows you to review unposted GL transactions before they are committed to the general ledger?

Accepted Answer

Transaction Preview / Posting Queue

Answer

The Posting Queue or Transaction Preview allows users to review pending GL transactions before they are finalized and committed.

Question 5

In CargoWise, the 'Branch' dimension on a GL transaction is used primarily for:

Accepted Answer

Segmenting financial reporting by organizational unit

Answer

The Branch dimension allows financial results to be segmented and reported at the organizational unit level within the GL.

(CCP) CargoWise Certified Professional Practice Test

(CCP) CargoWise Certified Professional Practice Test

CCP GL Integration & Revenue Recognition 2