Exam: N16599GC10
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Format: Multiple Choice
Duration: 60 Minutes
Number of Questions: 30
Passing Score: 65%
Validation: This exam has been validated against NetSuite Release 23.1
Earn associated certifications
Passing this exam is required to earn these certifications. Select each
certification title below to view full requirements.
Oracle NetSuite Certified Financial User
Prepare to pass exam: N16599GC10
The Oracle NetSuite Certified Financial User certification is designed for
individuals with 6-12 months experience using NetSuite Financials and a solid
understanding of NetSuite core accounting and finance capabilities. This
certification demonstrates understanding of accounting features and standard
accounting process flows.
Take recommended training
Complete one of the courses below to prepare for your exam (optional):
Oracle NetSuite Financial User
Additional Preparation and Information
A combination of Oracle training and hands-on experience (attained via labs
and/or field experience), in the learning subscription, provides the best
preparation for passing the exam.
Review exam topics
The following table lists the exam objectives and their weightings.
Objectives % of Exam
Subsidiaries, Classifications, Chart of Accounts 20%
Accounts Receivable 17%
Billing Schedules 7%
Accounts Payable 14%
Banking and Payment Processing 10%
Journal Entries 7%
Budgeting 4%
Expense Allocations 7%
Financial Reports and KPIs 7%
Period and Year-End Close 7%
Subsidiaries, Classifications, Chart of Accounts
Recognize what a subsidiary is, types of subsidiaries, and how they are
used.
Identify the general functionality of classifications (Departments|Classes|
Locations) on both transactions and reporting.
Identify implications of set up and restricting access to chart of accounts.
Identify the impact of setting the account type.
Accounts Receivable
Recognize steps in NetSuite standard Accounts Receivable process flow.
Identify considerations when setting up Customer records.
Identify steps in creating NetSuite Invoices.
Identify steps in accepting customer payments.
Identify steps and GL impact in accepting customer deposits.
Billing Schedules
Identify steps in setting up and applying billing schedules
Accounts Payable
Recognize steps in NetSuite standard Accounts Payable process flow.
Identify considerations when setting up Vendor records.
Identify steps in creating NetSuite purchase orders and bill.
Identify steps in paying vendors.
Banking and Payment Processing
Recognize steps in NetSuite default banking transactions
Identify implications of setting up cash and bank accounts.
Identify steps to reconcile monthly bank and credit card statements in NetSuite.
Journal Entries
Recognize how journal entries are used.
Recognize differences between elimination and intercompany journal entries in
setup and usage.
Budgeting
Identify steps to create and report on budgets in NetSuite.
Expense Allocations
Identify steps in setting up and applying expense allocations in NetSuite
Recognize the difference between fixed and dynamic allocation modes.
Financial Reports and KPIs
Identify elements unique to Financial Report Builder Interface.
Recognize the impact of NetSuite transactions on financial reports.
Period and Year-End Close
Recognize NetSuite recommended practices around period close and
accounting/tax period structure.
Recognize options for separately managing multiple subsidiaries and multiple fiscal calendars.
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QUESTION 1
How can the financial reports be kept separate when tracking finances for two
wholly owned but distinct legal entities in one NetSuite account?
A. use separate fiscal calendars
B. use classes
C. use the multi-book accounting feature
D. use subsidiaries
Answer: D
QUESTION 2
which two steps are recommended to track travel expenses by department
(choose 2)
A. make department options
B. use separate general ledger accounts for each internal department expenses
C. make department mandatory
D. share general ledger accounts between departments
Answer: C
QUESTION 3
How does NetSuite set up a company record when you buy from and sell to the
same company?
A. either the vendor or the customer can be set as "Parent of" the other record
to link them
B. NetSuite tracks this using the "Other relationship" functions to link the
customer and vendor records
C. NetSuite uses a single company record to track this combined relationship
D. NetSuite uses unrelated customer and vendor records to track these
Answer: B
QUESTION 4
Which 3 statements are true about parent accounts in NetSuite (choose 3)?
A. child accounts are created by setting the subaccount of field
B. checking the summary box allows the posting of reversing journal entries to
this account
C. parent accounts can be posting or not posting
D. parent accounts are created by setting the "parent of" field
E. checking the summary box on the account record prevents anyone from posting
activity to the account
Answer: A, B, E
QUESTION 5
which two settings are needed for billable items to appear on the customer
invoice (choose 2)
A. billable checkbox
B. customer
C. invoice number
D. memo
Answer: A, D
QUESTION 6
which 2 record types can be applied to customer payment (choose 2)
A. refund
B. credit memo
C. customer deposit
D. cash sales
Answer: B, C
A combination of Oracle training and hands-on experience (attained via labs
and/or field experience), in the learning subscription, provides the best
preparation for passing the exam.
Buy Complete
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