AP Learning Check 1

Question 1

Question

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

Answer

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

Question 2

Question

What are the components of an effective AP process?

Answer

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

Question 3

Question

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.

Answer

revenues
assets
loan
interests

Question 4

Question

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

Answer

Purchase Summary
Sales Invoice
Purchase Order
Purchase Requisition

Question 5

Question

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

Image:

3989e0f9-7b4c-4036-9b00-fe22fe82825a (image/png)

Answer

perfect match
go together
accurate
within contract

Question 6

Question

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

Answer

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

Question 7

Question

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

Answer

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

Question 8

Question

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

Answer

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

Question 9

Question

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.

Answer

True
False

Question 10

Question

5. The [blank_start]Escalation Matrix[blank_end] is AP’s reference document which guides AP processors on when and how to escalate open items.

Answer

Escalation Matrix
Vendor List
Special G/L list
Skills Matrix

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AP Learning Check 1

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Question 1

Question 2

Question 3

Question 4

Question 5

Question 6

Question 7

Question 8

Question 9

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	Created by jerume.urdaneta about 8 years ago