Accounts Payable Processors/Coordinator Q2 2012
Accounts Payable Processors/Coordinator Q2 2012 - Change requests and basics
Questions and Answers
- 1.
A check request form should be used
- A.
When the requestor needs special handling
- B.
When Tax submits their invoices
- C.
When the requestor does not have an Invoice
- D.
All of the above
Correct Answer
C. When the requestor does not have an InvoiceExplanation
A check request form should be used when the requestor does not have an invoice. This form allows the requestor to provide all the necessary information for the payment without needing an invoice. It helps in ensuring that the payment is processed correctly and that the requestor's needs are met.Rate this question:
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- 2.
An AP Check Request requires ONLY the following approval information
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
An AP Check Request does not require ONLY the following approval information. There may be additional information or documents required for the approval of an AP Check Request, such as supporting invoices or receipts. Therefore, the correct answer is False.Rate this question:
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- 3.
A check request with Fed Ex Special handling requires a special handling form
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
A check request with Fed Ex Special handling does not require a special handling form.Rate this question:
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- 4.
Tax Payment requests can only be processed by using the AP special handling request
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
Tax Payment requests can be processed using methods other than the AP special handling request. This means that it is not necessary to use the AP special handling request exclusively for tax payment requests. Therefore, the statement "Tax Payment requests can only be processed by using the AP special handling request" is false.Rate this question:
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- 5.
Who is responsible for thoroughly reviewing a check request and supporting documentation to ensure reasonableness of the amount expended and that there is a sufficient business reason for incurring the expense.
- A.
AP
- B.
Plant Manager
- C.
Submitter
- D.
Approver
Correct Answer
D. ApproverExplanation
The approver is responsible for thoroughly reviewing a check request and supporting documentation to ensure reasonableness of the amount expended and that there is a sufficient business reason for incurring the expense. They have the authority to approve or reject the request based on their review.Rate this question:
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- 6.
If a requestor submits a check request but has not used the new form, you should do which of the following:
- A.
Email the requestor to notify them you are rejecting their submission; delete the invoice
- B.
Email the requestor to notify them you are rejecting their submission; park the invoice
- C.
Email the requestor asking them to use the new form; park the invoice
- D.
Email the requestor using the designated template; park the invoice to gain approver & requestors signature
Correct Answer
D. Email the requestor using the designated template; park the invoice to gain approver & requestors signatureExplanation
If a requestor submits a check request but has not used the new form, the appropriate action to take is to email the requestor using the designated template and park the invoice to gain approver & requestors signature. This ensures that the requestor is notified of the issue and is given the correct form to use. Parking the invoice allows for the necessary approvals and signatures to be obtained before further processing.Rate this question:
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- 7.
If SAP terms are Due by the 5th of the 2nd month and the terms on the invoice is Discount - 1%10/net 30 you should
- A.
Change the terms to the discount terms
- B.
Leave the terms as is
Correct Answer
B. Leave the terms as isExplanation
The correct answer is to leave the terms as is. The SAP terms state that the payment is due by the 5th of the 2nd month, while the terms on the invoice offer a discount of 1% if paid within 10 days, with the full payment due within 30 days. Since the SAP terms already specify a due date, there is no need to change the terms on the invoice.Rate this question:
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- 8.
If the invoice shows discount terms and SAP shows 45 days, which term is more favorable for DPSG?
- A.
Discount Terms
- B.
45 Days
Correct Answer
A. Discount TermsExplanation
The discount terms would be more favorable for DPSG. Discount terms typically offer a reduction in the invoice amount if payment is made within a specified period of time. In this case, if DPSG pays within the discount terms, they would receive a discount on the invoice amount. On the other hand, SAP showing 45 days suggests that payment can be made within that period without any discount. Therefore, choosing the discount terms would result in cost savings for DPSG.Rate this question:
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- 9.
If the terms on the invoice is 1%10 net 30 days and the terms in SAP are net 30 days and the discount due date has passed, you should always leave the terms to be net 30 days.
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
If the discount due date has passed and the terms on the invoice are 1%10 net 30 days, it would be incorrect to leave the terms as net 30 days in SAP. The correct course of action would be to update the terms in SAP to reflect the actual terms on the invoice, which in this case would be net 30 days without the discount. Therefore, the statement is false.Rate this question:
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- 10.
If the payment terms on the invoice is net 45 and SAP shows net 30, you should do which of the following:
- A.
Change the terms to net 45
- B.
Change the terms to net 45 and then send an email to the AP changes terms email box
- C.
Leave the terms as net 30
Correct Answer
B. Change the terms to net 45 and then send an email to the AP changes terms email boxExplanation
Changing the payment terms on the invoice to net 45 and sending an email to the AP changes terms email box is the correct course of action. This ensures that the payment terms in SAP are aligned with the terms on the invoice, avoiding any confusion or discrepancies. By notifying the AP changes terms email box, the appropriate department or individual will be informed of the change and can update the records accordingly.Rate this question:
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- 11.
If you receive a petty cash request for $1,900.00 and while trying to process the request you determine that the vendor is blocked and that vendor is on the Petty cash excel file, you should .....
- A.
Complete a MD change request form requesting that the vendor be unblocked
- B.
Process the request once the block has been removed
- C.
Request that the posting block be added back to the Vendor
- D.
All of the above
Correct Answer
D. All of the aboveExplanation
If you receive a petty cash request for $1,900.00 and find that the vendor is blocked and listed on the Petty cash excel file, you should complete a MD change request form to request that the vendor be unblocked. Once the block has been removed, you can process the request. Additionally, you should request that the posting block be added back to the vendor to prevent any future issues. Therefore, the correct answer is "All of the above."Rate this question:
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- 12.
If you receive a petty cash request for $999.00 and while trying to process the request you determine that the vendor is blocked… you should
- A.
Check to see if the vendor is in the petty cash excel file, send the requestor a credit card cash advance document and Petty cash procedure document delete/reject invoice
- B.
Check to see if the vendor is in the petty cash excel file, complete a MD change request form and request that the vendor be unblocked, once the vendor is unblocked you process the request
- C.
None of the above
Correct Answer
A. Check to see if the vendor is in the petty cash excel file, send the requestor a credit card cash advance document and Petty cash procedure document delete/reject invoice -
- 13.
Taxable purchase order with tax code I1 - If the invoice from the vendor does not include tax - Amount = do not include tax Calculate tax button = Checked Tax Amount = Blank Tax Code = Blank Amount Field (line item) = Enter Amounts (without tax) Tax Code (line item) = U1
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
In this scenario, the taxable purchase order has a tax code of I1. The invoice from the vendor does not include tax. Therefore, the amount entered should not include tax. The "Calculate tax" button is checked, indicating that the system should calculate the tax amount. Since the tax amount is blank and the tax code is also blank, it suggests that the tax has not been calculated or applied yet. The amount field for each line item should be entered without tax, and the tax code for each line item should be U1. Therefore, the statement "Taxable purchase order with tax code I1 - If the invoice from the vendor does not include tax" is true.Rate this question:
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- 14.
Taxable purchase order with tax code U1 - If the invoice from the Vendor includes sales tax - Amount = amount including tax Calculate tax button = not checked Tax Amount = Enter Tax from Vendor invoice Tax Code = Blank Amount Field (line item) = Enter Amounts (without tax) Tax Code (line item) = I1
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
The given correct answer is true because the taxable purchase order with tax code U1 indicates that the invoice from the vendor includes sales tax. The amount field should include the amount including tax, and the tax amount should be entered from the vendor invoice. The tax code for the line item should be I1, indicating that tax is applicable to that specific item. The fact that the "Calculate tax" button is not checked suggests that the tax amount is manually entered rather than automatically calculated.Rate this question:
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- 15.
Non Taxable Purchase Orders with Tax Code IO- If the invoice from the Vendor does not include sales tax - Amount = do not include tax Calculate tax button = not checked Tax Amount = Blank Tax Code = Blank Amount Field (line item) = Enter Amounts Tax Code (line item) = I1
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
The given answer is false because the statement describes a non-taxable purchase order with a tax code of IO, indicating that the invoice from the vendor does not include sales tax. Therefore, the tax amount and tax code fields should be blank, and the amount field should not include tax. The calculate tax button should also not be checked.Rate this question:
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- 16.
When posting an invoice to a PO with a mixture of IO and I1 items and the invoice has tax on it, what should we do?
- A.
Enter the invoice tax amount and not check the calculate tax box.
- B.
Park the invoice for clarification on tax.
- C.
Enter the tax amount in the GR line that has the taxable item.
Correct Answer
A. Enter the invoice tax amount and not check the calculate tax box.Explanation
When posting an invoice to a purchase order (PO) that contains a mixture of Inventory Only (IO) and Inventory 1 (I1) items, and the invoice includes tax, the correct action is to enter the invoice tax amount and not check the calculate tax box. This means that the tax amount is manually entered and not automatically calculated by the system. This allows for accurate recording of the tax amount on the invoice without relying on the system's calculations.Rate this question:
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- 17.
Non Taxable Purchase Orders with Tax Code IO- If the invoice from the Vendor includes sales tax -
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
Non Taxable Purchase Orders with Tax Code IO are indeed true. This means that even though the purchase order is marked as non-taxable, if the invoice from the vendor includes sales tax, it should still be considered and accounted for. Therefore, the correct answer is true.Rate this question:
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- 18.
Tax should be paid on all intercompany invoices?
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
Tax should not be paid on all intercompany invoices because intercompany transactions are typically eliminated during the consolidation process. These transactions are not considered revenue-generating or expense-incurred activities, but rather internal transfers between entities within the same group. Therefore, taxing these transactions would result in double taxation and distort the financial statements.Rate this question:
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- 19.
When posting an invoice with tax to a taxable PO with tax code I1, should you pay the vendor invoice tax amount and ignore any warnings.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
When posting an invoice with tax to a taxable PO with tax code I1, it is correct to pay the vendor invoice tax amount and ignore any warnings. This implies that the tax code I1 is valid and applicable for this particular situation, and therefore the vendor invoice tax amount should be paid without any hesitation or concern.Rate this question:
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- 20.
Non PO Invoice Payments - If the Invoice from the Vendor does not include sales tax - Amount = do not include tax Calculate tax button = not checked Tax Amount = Blank Tax Code = Blank Amount Field (line item) = Enter Amounts Tax Code (line item) = leave as IO Only update to U1 if directed with approval and check the calculate tax box.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
The given answer is true because it states that for non PO invoice payments where the invoice from the vendor does not include sales tax, the amount should not include tax. The tax amount, tax code, and calculate tax button should be left blank. The amount field for each line item should have the amounts entered, and the tax code for each line item should be left as "IO" unless directed with approval to update it to "U1" and check the calculate tax box.Rate this question:
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- 21.
Non PO Payment - If the invoice from the Vendor includes tax - Tax Code (line item) = I1 Jurisdiction code will default from the cost center/profit center entered on the line item. If it is a balance sheet account, you will have to manually enter the jurisdiction code.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
If the invoice from the Vendor includes tax, the tax code (line item) will be set to I1 and the jurisdiction code will default from the cost center/profit center entered on the line item. However, if it is a balance sheet account, the jurisdiction code will have to be manually entered. Therefore, the statement "Non PO Payment - If the invoice from the Vendor includes tax" is true.Rate this question:
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- 22.
AP should send exception notices for PV issues related to Direct Materials to the Procurement team.
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
The statement is false because AP (Accounts Payable) should not send exception notices for PV (Purchase Variance) issues related to Direct Materials to the Procurement team. AP is responsible for processing invoices and making payments, while PV issues related to Direct Materials should be addressed by the Production or Operations team, as they are responsible for managing the procurement of materials and ensuring the accuracy of inventory.Rate this question:
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- 23.
GOA - If the BB Level is missing from the GOA information (only) you still need to park the invoice and request the BB level.
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
If the BB Level is missing from the GOA information, it is not necessary to park the invoice and request the BB level. Therefore, the statement is false.Rate this question:
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- 24.
When rejecting an invoice due to a duplicate payment, we should reject it and type "Duplicate invoice."
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
When rejecting an invoice due to a duplicate payment, we should not simply reject it and type "Duplicate invoice." Instead, we should reject the invoice and provide a clear explanation as to why it is being rejected. This is important for record-keeping purposes and to ensure that the issue of duplicate payment is properly addressed and resolved.Rate this question:
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- 25.
When rejecting an invoice for the reason "Not an invoice," what comment do we add?
- A.
Not an Invoice
- B.
Due to Accounts Payable Best Business Practice the attached document cannot be processed because it is not an invoice.
- C.
This invoice is not a valid Dr Pepper invoice.
Correct Answer
B. Due to Accounts Payable Best Business Practice the attached document cannot be processed because it is not an invoice.Explanation
The comment "Due to Accounts Payable Best Business Practice the attached document cannot be processed because it is not an invoice" is added when rejecting an invoice for the reason "Not an invoice." This comment explains that the document cannot be processed because it does not meet the criteria of being an invoice, which is in line with the best business practice of Accounts Payable. The comment clarifies the reason for rejection and provides a justification based on established standards.Rate this question:
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- 26.
Any documents that have PO# / GOA information that are being rejected, AP should do what?
- A.
Reject the invoice as "Unauthorized Approver"
- B.
Park the invoice for approval
- C.
Send an email to the PO creator /GOA initiator or approver informing them the document is being rejected.
Correct Answer
C. Send an email to the PO creator /GOA initiator or approver informing them the document is being rejected.Explanation
If any documents have PO# / GOA information that are being rejected, AP should send an email to the PO creator / GOA initiator or approver informing them that the document is being rejected. This action ensures that the relevant parties are notified about the rejection and can take appropriate actions if necessary.Rate this question:
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- 27.
When processing an invoice and the freight is included in the conditions tab always select 'Good/service items + planned delivery cost" in Miro while processing an invoice.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
When processing an invoice and the freight is included in the conditions tab, selecting "Good/service items + planned delivery cost" in Miro ensures that the invoice includes both the cost of the goods or services being invoiced as well as the planned delivery cost. This helps in accurately accounting for all relevant costs associated with the invoice and ensures that the invoice reflects the complete transaction.Rate this question:
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- 28.
When processing an invoice with freight charges and there is no line available for freight, what should you do?
- A.
Park the invoice for unauthorized freight
- B.
Add the freight charge to the GR line
- C.
Add freight as unplanned delivery cost in the delivery tab.
Correct Answer
C. Add freight as unplanned delivery cost in the delivery tab.Explanation
When processing an invoice with freight charges and there is no line available for freight, the correct action to take is to add the freight as an unplanned delivery cost in the delivery tab. This ensures that the freight charges are accounted for and included in the overall cost of the delivery.Rate this question:
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- 29.
What is the dollar limit for unplanned delivery cost?
- A.
$500.00
- B.
$750.00
- C.
$400.00
- D.
No limit
Correct Answer
D. No limitExplanation
The correct answer is "No limit" because the question asks for the dollar limit for unplanned delivery cost, and "No limit" means that there is no maximum amount set for the cost. This implies that the company is willing to spend any amount necessary for the unplanned delivery cost, regardless of the price.Rate this question:
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- 30.
When processing an invoice and vendor maintenance is needed the coordinator is responsible in resolving the vendor maintenance issue.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
The given statement is true because when processing an invoice, if there is a need for vendor maintenance, it is the responsibility of the coordinator to resolve the issue. The coordinator is in charge of ensuring that all vendor information is accurate and up to date in order to process the invoice correctly. They may need to update vendor details, contact the vendor for missing information, or address any issues that may arise during the maintenance process. Therefore, it is the coordinator's responsibility to resolve any vendor maintenance issues during invoice processing.Rate this question:
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- 31.
When processing an invoice and the vendor is not set up what should we do?
- A.
Reject the invoice and have the coordinator resolve the vendor maintenance issue.
- B.
Complete a vendor request and have master date set the vendor up.
- C.
Back out of the invoice and select "Process Exception" icon and select "Vendor Maintenance Required."
Correct Answer
C. Back out of the invoice and select "Process Exception" icon and select "Vendor Maintenance Required."Explanation
When processing an invoice and the vendor is not set up, the correct action to take is to back out of the invoice and select the "Process Exception" icon. From there, choose the option "Vendor Maintenance Required." This indicates that there is an issue with the vendor's setup and it needs to be resolved before the invoice can be processed further. This allows for proper documentation and tracking of the vendor maintenance issue, ensuring that it is addressed by the appropriate team or coordinator.Rate this question:
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- 32.
What exception should be used when a line is not on the PO but is on the invoice?
- A.
No goods receipt (NR)
- B.
Invalid PO (IPO)
- C.
Missing Lines (ML)
Correct Answer
C. Missing Lines (ML)Explanation
The correct answer is "Missing Lines (ML)". This exception should be used when a line is not on the purchase order (PO) but is on the invoice. It indicates that there are missing lines in the PO, which means that some items or services were not included in the original order. This could be due to an error in the PO or a discrepancy between the PO and the invoice. By using the "Missing Lines (ML)" exception, the discrepancy can be identified and resolved.Rate this question:
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- 33.
If an item is already parked what should you do before sending out further communication?
- A.
Read existing notes and replies before sending out another reminder
- B.
Check for any new invoices for the same PO
- C.
Check to see if the replies are not coming through. Check the time between sending and reply.
- D.
All of the above
Correct Answer
D. All of the aboveExplanation
Before sending out further communication for an already parked item, it is important to read existing notes and replies to avoid redundancy and ensure that all relevant information has been considered. Additionally, checking for any new invoices for the same purchase order is necessary to ensure accurate and up-to-date information. Lastly, checking if the replies are not coming through and evaluating the time between sending and receiving a reply helps to identify any potential communication issues. Therefore, all of the above actions should be taken before sending out further communication.Rate this question:
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- 34.
If a document is parked for no GR what should you should always check for a good receipt one last time before sending an exception email.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
If a document is parked for no GR, it means that a goods receipt (GR) has not been recorded for that document. In such cases, it is important to always double-check for a good receipt one last time before sending an exception email. This ensures that there hasn't been any oversight or delay in recording the GR, and helps to avoid unnecessary communication and confusion. Therefore, the answer "True" is correct as it emphasizes the importance of verifying the existence of a good receipt before taking further action.Rate this question:
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- 35.
If you receive an invoice with a service PO and the quantity is in gallons and we are invoiced in pounds we should change the quantity on the PO to match the invoice.
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
The explanation for the answer "False" is that if we receive an invoice with a service PO and the quantity is in gallons but we are invoiced in pounds, we should not change the quantity on the PO to match the invoice. Instead, we should contact the supplier and inform them about the discrepancy in units and request a corrected invoice with the correct units of measurement. Changing the quantity on the PO would result in incorrect documentation and may lead to confusion or errors in the future.Rate this question:
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- 36.
When processing an invoice, if the PO is flagged as "Account Maintenance" what should you do?
- A.
Park the invoice for invalid PO.
- B.
Switch to non PO processing and post the invoice to the GL account
- C.
Post the invoice as a subsequent debit.
Correct Answer
C. Post the invoice as a subsequent debit.Explanation
If the PO is flagged as "Account Maintenance" when processing an invoice, the correct action to take is to post the invoice as a subsequent debit. This means that the invoice should be treated as a separate transaction and posted to the appropriate GL account. This is likely because the "Account Maintenance" flag indicates that there is a need to make adjustments or corrections to the account associated with the invoice.Rate this question:
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