AP Learning Check 1

Question 1 of 10

1

The three building blocks of AP, which are also used in the 3-way match are:

Select one of the following:

Invoice, Purchase Requisition, Proforma Invoice
Vendor Invoice, Purchase Order, Delivery Receipt
Official Receipt, Summary, Bill of Lading
Sales Confirmation, Quotation, Summary of Discounts

Explanation

Question 2 of 10

1

What are the components of an effective AP process?

Select one of the following:

Timely processing of accurate & legitimate vendor invoices
Accurate recording in the appropriate G/L accounts, and
Accrual of obligations & expenses
All of the Above

Explanation

Question 3 of 10

1

Sales tax is a state or local tax on sale of products or services, based on the percentage of sales price.

In accounting, the sales taxes collected by the seller of the goods or services are not __________ for the seller.

Select one of the following:

revenues
assets
loan
interests

Explanation

Question 4 of 10

1

A ___________________ is prepared by a company to communicate and document precisely what the company is ordering from a vendor.

Select one of the following:

Purchase Summary
Sales Invoice
Purchase Order
Purchase Requisition

Explanation

Question 5 of 10

1

When all documents are in agreement, we can say that they are ___________________________.

Select one of the following:

perfect match
go together
accurate
within contract

Explanation

Question 6 of 10

1

What is the system document number series generated when a credit note is successfully posted to a G/Account

Select one of the following:

45xxxxxxxxx series
70xxxxxxxx series
30xxxxxxxx series
31xxxxxxxx series

Explanation

Question 7 of 10

1

The process of storing documents, linking them to a SAP business object and making them accessible from the corresponding SAP business transaction is called ____________________________________.

Select one of the following:

Scanning and Archiving
Splitting and Merging
Scanning and Indexing
Indexing and Posting

Explanation

Question 8 of 10

1

The Rules of Thumb to consider prior to scanning the invoice into SAP are:

Select one of the following:

1. Make sure the invoice is valid
2. The document is in acceptable file format (pdf, tif or jpg) and
3. Only 1 invoice per document -- otherwise split
1. Make sure the invoice is in proforma
2, Acceptable currency is USD
3. Multiple copies of invoices in 1 jpg file is acceptable
1. Invoice is split if multiple copies
2. Approval from vendor indicated on the invoice
3. Coding instructions supplied
1. Scan multiple documents at one go to lessen the processing time
2. Manually stamp date of receipt on the invoice
3. Do not accept Invoice copy received via EDI

Explanation

Question 9 of 10

1

In the reversal screen, I will indicate TODAY’s date (the time the reversal is being made) in the Posting date field IF the reversal reason being used is 02.

Select one of the following:

True
False

Explanation

Question 10 of 10

1

Select from the dropdown list to complete the text.

5. The ( Escalation Matrix, Vendor List, Special G/L list, Skills Matrix ) is AP’s reference document which guides AP processors on when and how to escalate open items.

	Created by jerume.urdaneta about 8 years ago

This Learning Check aims to gauge your overall knowledge of Accounts Payable procedures and specific instructions

AP Learning Check 1

Question 1 of 10

The three building blocks of AP, which are also used in the 3-way match are:

Select one of the following:

Explanation

Question 2 of 10

What are the components of an effective AP process?

Select one of the following:

Explanation

Question 3 of 10

Sales tax is a state or local tax on sale of products or services, based on the percentage of sales price. In accounting, the sales taxes collected by the seller of the goods or services are not __________ for the seller.

Select one of the following:

Explanation

Question 4 of 10

A ___________________ is prepared by a company to communicate and document precisely what the company is ordering from a vendor.

Select one of the following:

Explanation

Question 5 of 10

When all documents are in agreement, we can say that they are ___________________________.

Select one of the following:

Explanation

Question 6 of 10

What is the system document number series generated when a credit note is successfully posted to a G/Account

Select one of the following:

Explanation

Question 7 of 10

The process of storing documents, linking them to a SAP business object and making them accessible from the corresponding SAP business transaction is called ____________________________________.

Select one of the following:

Explanation

Question 8 of 10

The Rules of Thumb to consider prior to scanning the invoice into SAP are:

Select one of the following:

Explanation

Question 9 of 10

In the reversal screen, I will indicate TODAY’s date (the time the reversal is being made) in the Posting date field IF the reversal reason being used is 02.

Select one of the following:

Explanation

Question 10 of 10

Select from the dropdown list to complete the text.

5. The Escalation Matrix Vendor List Special G/L list Skills Matrix( Escalation Matrix, Vendor List, Special G/L list, Skills Matrix ) is AP’s reference document which guides AP processors on when and how to escalate open items.

Explanation

Sales tax is a state or local tax on sale of products or services, based on the percentage of sales price.

In accounting, the sales taxes collected by the seller of the goods or services are not __________ for the seller.

5. The ( Escalation Matrix, Vendor List, Special G/L list, Skills Matrix ) is AP’s reference document which guides AP processors on when and how to escalate open items.