Module#2: Using the A/P Module

Question 1

What are Vendor Groups used for?

A: to group vendors who have similar attributes
B: to group accounts that have similar attributes
B: to group payables that have similar attributes

Answer 1

A: to group vendors who have similar attributes

Question 2

You can define as many Vendor groups as you need.

A: True
B: False

Answer 2

A: True

Question 3

Vendor Groups allow you to set defaults that are common to that group, saving you time when entering individual Vendors

A: True
B: False

Answer 3

A: True

Question 4

Vendor Groups are created in the __________ Groups form which is located in the A/P Vendors folder.

A: General Ledger
B: A/P Vendor
C: A/P Account

Answer 4

B: A/P Vendor

Question 5

On the Group tab, you can enter or select the Account Set, Terms Code, Bank Code, and Payment Code to be used with the group. However Entering these codes will not speed up data entry.

A: True
B: False

Answer 5

B: False, it will speed it up

Question 6

If you wish to generate a separate check for each invoice from a Vendor, you must check the:

A: Accounts Payments for Each Invoice Box
B: Generate Separate Payments for Each Invoice box.
C: General Ledger Payment Invoice Box

Answer 6

B: Generate Separate Payments for Each Invoice box.

Question 7

Accounts Payable will not allow you to post an invoice that has the same Invoice Number as an invoice that has already been posted for the Vendor

A: True
B: False

Answer 7

A: True

Question 8

The number you give your Vendor can be an alphanumeric code up to _______ characters long

A: 10
B: 11
C: 12

Answer 8

C: 12

Question 9

Once you have entered and saved a Vendor record, the Vendor Number can be changed.

A: True
B: False

Answer 9

B: False, it cannot be changed

Question 10

The Vendors form consists of _______ tabs

A: 5
B: 6
C: 7
D: 8

Answer 10

C: 7

Question 11

The Vendor Groups report displays all of the options that you selected for the group.

A: True
B: False

Answer 11

A: True

Question 12

There are ______ types of Vendor Group reports available

A: one
B: two
C: three

Answer 12

B: two

Question 13

True or False: Every Vendor you use in your company must belong to a Vendor Group, so you must create at least one Vendor Group before you can add any Vendors.

A: True
B: False

Answer 13

A: True

Question 14

The Vendor Group List report produces a list of all your company’s Vendor groups along with detailed information about each group.

A: True
B: False

Answer 14

A: True

Question 15

If you need to send payments to your Vendor to an address that is different from the Vendor’s mailing address, you must:

A: only use one address
B: enter the address on the Processing tab
C: call the Vendor and ask for the correct address
D: add a remit to location for that Vendor

Answer 15

D: add a remit to location for that Vendor

Question 16

The General Ledger Accounts Payable account is called a _________ account since it controls the Accounts Payable subledger

A: Control
B: Using
C: Defined

Answer 16

A: Control

Question 17

Historical individual Vendor invoices must be entered in the Accounts Payable subledger totaling the same amount.

A: True
B: False

Answer 17

A: True

Question 18

Invoice batches are created in a similar manner as when you create batches in the General Ledger module.

A: True
B: False

Answer 18

A: True

Question 19

True or False: Batches can only be posted one at a time.

A: True
B: False

Answer 19

B: False

Question 20

Which of the following is a Document Type selection on the A/P Invoice Entry form? (Select all the correct answers)

A: Invoice
B: Credit Note
C: Batch
D: Interest

Answer 20

A: Invoice
B: Credit Note
D: Interest

Question 21

True or False: Recurring payables are used to create invoices that you receive on a regular basis from your Vendors.

A: True
B: False

Answer 21

A: True

Question 22

The __________ Date is the default date entered in the Batch Date box of the A/P Invoice Entry form.

A: Fiscal
B: Todays
C: Session

Answer 22

C: Session date

Question 23

On the Stats tab of the A/P Vendor Groups form you are able to edit the information displayed. Data that is edited affects the General Ledger Accounts and Vendor Balances

A: True
B: False

Answer 23

B: False

Question 24

If you need to send payments to your Vendor to an address that is different from the Vendor’s mailing address, you must create a _______ for that Vendor.

A: Remit to Location
B: Forward to Location
C: Location for Remittance
D: Dispatch to Location

Answer 24

A: Remit to Location

Question 25

Which Tab on the A/P Vendor Activity form displays a single line of summary information for each invoice, credit note, debit note, prepayment, and payment that has been posted to the vendors account?

A: Activity Tab
B: Aging Tab
C: Transactions Tab
D: Payments Tab

Answer 25

C: Transactions Tab

Question 26

Which do you choose in the Report type box on the A/P Vendors Report window to lists payment and purchase history for each vendor?

A: Vendor
B: Vendor Activity Statistics
C: Vendor Period Statistics

Answer 26

B: Vendor Activity Statistics

Question 27

When Account Payable invoice transactions are posted they will ______ the General Ledger account specified and _____ the Account Payable control account.

A: Debit, Credit
B: Credit, Debit
C: Decrease, Increase

Answer 27

A: Debit, Credit

Question 28

If entries were made to the General Ledger Accounts Payable account directly, the General Ledger Accounts Payable account and the Accounts Payable subledger would be out of balance.

A: True
B: False

Answer 28

A: True

Question 29

On the A/P Invoice Entry Form, which must you press to get the taxes to be displayed if you have chosen Enter in the Tax Amount Box

A: On the Taxes Tab, click into the Tax Amount section in the table of the form
B: On the Taxes Tab, double click the no in the tax included section in the table of the form
C: On the Documents Tab, click into the Allocated tax section in the table of the form
D: On the Taxes Tab, Click Calculate or Distribute Taxes

Answer 29

D: On the Taxes Tab, Click Calculate or Distribute Taxes

Question 30

Quick Mode enables you to select the fields that will be copied automatically as you enter transactions into the Invoice Entry form

A: True
B: False

Answer 30

A: True

Question 31

To Apply Quick Mode:

A: Click Help on the Menu Bar and then Quick Mode
B: Click File on the Menu Bar and then Quick Mode
C: Click Settings on the menu bar and then click Quick Mode
D: Click Quick Mode on the menu bar and then click Quick Mode

Answer 31

C: Click Settings on the menu bar and then click Quick Mode

Question 32

After a batch has been created and each time a batch has been edited, the batch must be printed.

A: True
B: False

Answer 32

A: True

Question 33

Posting a batch will update the ___________, _________, and _________ in the Accounts Payable module. Posting will also create a batch for the General Ledger

A: Vendor records, transactions, and statistics
B: Customer Records, Transactions, Analytics
C: Vendor Records, Purchases, Statistics
D: Vendor Records, Transactions, Analytics

Answer 33

A: Vendor records, Transactions, and Statistics

Question 34

Credit Notes _______ the Accounts Payable account and _______ the offsetting account, thus _______ your debt.

A: Credit, Debit, Increasing
B: Debit, Credit, increasing
C: Credit, Debit, Decreasing
D: Debit, Credit, Decreasing

Answer 34

D: Debit, Credit, Decreasing

Question 35

When Entering a Credit note in the A/P Invoice Entry Form, the Number that is entered into the document Total Box is:

A: The Amount of the Credit excluding Taxes
B: The Amount of the Credit Including Taxes

Answer 35

B: The Amount of the Credit Including Taxes