New World ERP - FM - A/P Invoice Entry

10 Questions | Total Attempts: 261

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New World ERP - FM - A/P Invoice Entry

Congratulations on completing A/P Invoice Entry training! Now that you've been introduced to basic A/P Invoice processing you should be able to pass this test with 80% or better accuracy. Good luck!


Questions and Answers
  • 1. 
    What is required to post an accounts payable invoice batch?
    • A. 

      The invoice batch has been validated.

    • B. 

      All required approvals have been given.

    • C. 

      The edit list for the invoice batch has been printed.

    • D. 

      A & B.

  • 2. 
    To enter a new invoice batch, the proper navigation is:
    • A. 

      Financial Management > Accounts Payable > Invoice Entry Batches.

    • B. 

      Financial Management > Accounts Payable > Invoice Payment Batches.

    • C. 

      Financial Management > Reports > Accounts Payable > Accounts Payable Invoice Report.

    • D. 

      Financial Management > Inquiries > Vendors.

  • 3. 
    How can multiple General Ledger accounts be attached to a single item on an invoice?
    • A. 

      Create multiple invoice batches.

    • B. 

      Create multiple items on the invoice batch and assign a different GL to each of them.

    • C. 

      Utilize the Multiple G/L Account Distribution icon next to the GL Account field in Invoice entry.

    • D. 

      All of the above.

  • 4. 
    Which is the correct path to inquire on an Accounts Payable invoice?
    • A. 

      Financial Management > Inquiries > Payments > Select Payee Type > Select the Vendor.

    • B. 

      Financial Management > Reports > Invoice Batch Report.

    • C. 

      Financial Management > Inquiries > Vendors > Locate Vendor > Locate the Invoice.

    • D. 

      Both A & C.

  • 5. 
    What is the limitation of using the quick invoice entry method?
    • A. 

      A purchase order cannot be attached to the invoice.

    • B. 

      The invoice can only create a distribution to one GL account.

    • C. 

      The invoice can only have one item.

    • D. 

      All of the above.

  • 6. 
    When creating an Accounts Payable Invoice Batch, why is the Total field used?
    • A. 

      It is a method to estimate the total for the batch.

    • B. 

      If the total amount of the batch is entered into the field, then the total of the invoices entered into the batch must match this total for the invoice batch to validate.

    • C. 

      For entering the total number of invoices that will be entered into this batch.

    • D. 

      To determine the General Ledger account.

  • 7. 
    Which path(s) will lead to all existing invoices attached to a specific vendor?
    • A. 

      Financial Management > Reports > Accounts Payable Invoice Report.

    • B. 

      Financial Management > Inquiries > Vendors > Locate the Vendor. All invoices can be seen for the vendor by clicking on the Invoices icon beneath the Vendor Name.

    • C. 

      Financial Management > Reports > Purchasing > Purchase Order Report.

    • D. 

      A and B.

  • 8. 
    Can a project be assigned to an invoice?
    • A. 

      Yes, projects are intuitively assigned to an invoice batch.

    • B. 

      Yes, a project can be assigned if the general ledger account entered for the invoice batch allows for Projects.

    • C. 

      No, a project cannot be assigned until the invoice is posted.

    • D. 

      None of the above.

  • 9. 
    How is the total amount of the invoice calculated?
    • A. 

      (Quantity) x (Unit of Measure).

    • B. 

      (Quantity) x (Price Per Unit or Amount).

    • C. 

      Price Per Unit only, quantity is not used.

    • D. 

      None of these.

  • 10. 
    Which page within new world ERP displays approvers for a posted invoice?
    • A. 

      Purchase Order Inquiry.

    • B. 

      Invoice Inquiry.

    • C. 

      Accounts Payable by G/L Distribution Report.

    • D. 

      None of the above.

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