New World ERP - FM - A/P Invoice Payment

10 Questions | By LogosAssessments | Last updated: Mar 20, 2022 | Total Attempts: 52

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Congratulations on completing Accounts Payable Invoice Payment process training! Now that you've been introduced to basic A/P invoice payemnts, you should be able to pass this test with 80% or better accuracy. Good luck!

Questions and Answers

1.

Where can inquiries on Payments be made?
- A.
  
  Financial Management > Reports > Accounts Payable > Accounts Payable Invoice Report.
- B.
  
  Financial Management > Inquiries > Bank Accounts.
- C.
  
  Financial Management > Inquiries > Payments.
- D.
  
  Financial Management > Payment Processing > Payment Batches.
2.

Which path leads to the page where Payments can be voided?
- A.
  
  Financial Management > Payment Processing > Payment Batches.
- B.
  
  Financial Management > Accounts Payable > Invoice Payment Batches.
- C.
  
  Financial Management > Payment Processing > Payment Reconciliation Batches.
- D.
  
  Financial Management > Payment Processing > Void Payments.
3.

Which statement about invoices with a hold payment reason is TRUE?
- A.
  
  Invoices with a hold payment reason cannot be paid.
- B.
  
  Invoices with a hold payment reason can only be paid if it has been approved by the department manager.
- C.
  
  Invoices with a hold reason can always be paid. The hold payment reason is just for informational purposes.
- D.
  
  None of the above.
4.

When the “Print” button is selected on the payment batch list screen, where are the checks sent?
- A.
  
  The checks are sent to the default local printer.
- B.
  
  The checks are sent to MyReports.
- C.
  
  The checks will pop up on the screen for review.
- D.
  
  None of the above.
5.

Which of the following statements is TRUE regarding the “Print Confirmations” command on the payment batch list screen?
- A.
  
  This command is used to email users internally within new world ERP only.
- B.
  
  This command is a useful tool that can be used to email vendors to inform them when their payment has been processed.
- C.
  
  This command is used to send an emailed copy of a check to a vendor.
- D.
  
  None of the above.
6.

What is the proper navigation to set up a new check layout?
- A.
  
  Maintenance > new world ERP Suite > System > Form Layout.
- B.
  
  Maintenance > new world ERP Suite > System > Mail Merge Templates.
- C.
  
  Maintenance > new world ERP Suite > System > new world ERP Settings.
- D.
  
  Maintenance > new world ERP Suite > System > System Settings.
7.

Which of the following is NOT a requirement for posting an invoice payment batch?
- A.
  
  Validation.
- B.
  
  Approval.
- C.
  
  Check Register.
- D.
  
  All are required.
8.

What information can be retrieved from doing a payment inquiry?
- A.
  
  Transaction Type.
- B.
  
  Payee Name.
- C.
  
  Payment Date.
- D.
  
  Any of the above.
9.

When voiding a check, which of the following is TRUE?
- A.
  
  The invoice will be re-established.
- B.
  
  The Invoice will be voided.
- C.
  
  The user has the option to choose whether to re-establish the invoice, or void the invoice completely.
- D.
  
  None of the above.
10.

Once checks have been printed, is there another step to execute before the transaction is sent to the general ledger for posting?
- A.
  
  Yes, once the checks are printed, the batch still has to be posted.
- B.
  
  Yes, once the checks are printed, the batch still has to be approved.
- C.
  
  Yes, once the checks are printed, the batch still has to be validated.
- D.
  
  No, once the checks are printed there is nothing more to do.