P2p01 - Purchase To Pay Overview - Kc

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| By Timothy Johnson
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Timothy Johnson
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Quizzes Created: 9 | Total Attempts: 4,405
| Attempts: 144
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  • 1/7 Questions

    Before an invoice can be paid, what 3 things must match?

    • Inventory Posting, Storage Quantity, Receipt of Product
    • Post Goods Receipt, Purchase Order, Invoice Receipt
    • Bill of Lading, Credit Draft Number, Inventory Line Item
    • None of the above
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About This Quiz

SAP Training
Copyright 2011 by Lawson Products, Inc. All rights reserved.

P2p01 - Purchase To Pay Overview - Kc - Quiz

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  • 2. 

    What are 2 components of P2P?

    • Asset Control, Accounting Unit, Accounts Receivable

    • Transfer Order, P&L, Business Unit Protocol

    • Goods Movement, Vendor Management

    • Operating Unit, Warehouse Division, SKU

    Correct Answer
    A. Goods Movement, Vendor Management
    Explanation
    The two components of P2P (Procure-to-Pay) are goods movement and vendor management. Goods movement refers to the process of physically moving goods from the supplier to the buyer, including activities such as shipping, receiving, and inventory management. Vendor management involves managing relationships with suppliers, including activities such as selecting vendors, negotiating contracts, and monitoring vendor performance. These components are essential in ensuring a smooth and efficient procurement process from start to finish.

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  • 3. 

    Which type of master data keeps information on a vendor’s bank details?

    • Vendor Master

    • Vendor Account

    • Supplier Report

    • None of the above

    Correct Answer
    A. Vendor Master
    Explanation
    The correct answer is Vendor Master. The Vendor Master is a type of master data that keeps information on a vendor's bank details. This includes details such as the vendor's bank account number, bank name, branch code, and other relevant information. The Vendor Master is an essential component of any procurement or accounts payable system, as it ensures accurate and up-to-date information on vendors' bank details for payment processing and financial transactions.

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  • 4. 

    How do you drill down a report to look at information about a specific Purchase Requisition?

    • Double click on the requisition

    • Right click and select Requisition Level

    • Double Click on the Vendor Master

    • None of the above

    Correct Answer
    A. Double click on the requisition
    Explanation
    To drill down a report and look at information about a specific Purchase Requisition, the correct action is to double click on the requisition. This action will allow the user to access and view detailed information related to the specific requisition.

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  • 5. 

    What comes after creating a purchase order in the P2P Process?

    • Submit Purchase Requisition

    • Verify Inventory Count

    • Clear Purchase Draft

    • Release Purchase Order

    Correct Answer
    A. Release Purchase Order
    Explanation
    After creating a purchase order in the P2P process, the next step is to release the purchase order. This means that the purchase order is officially sent to the supplier or vendor for fulfillment. Releasing the purchase order initiates the process of procuring the requested goods or services and ensures that the supplier is aware of the order and can begin preparing for delivery.

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  • 6. 

    What are 2 benefits of implementing SAP for the P2P Process?

    • Real-time visibility to inventory and order status

    • Improved vendor management capabilities

    • Improved vendor performance

    • All of the above

    Correct Answer
    A. All of the above
    Explanation
    Implementing SAP for the P2P (Procure-to-Pay) process provides several benefits. Firstly, it offers real-time visibility to inventory and order status, allowing businesses to track their inventory levels and monitor the progress of orders. This helps in making more informed decisions and improving overall efficiency. Secondly, implementing SAP improves vendor management capabilities by streamlining communication, automating processes, and providing a centralized platform for managing vendor relationships. Lastly, it improves vendor performance by enabling businesses to monitor and evaluate vendor performance metrics, identify areas for improvement, and establish better relationships with vendors.

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  • 7. 

    Which type of master data keeps information on agreements between the business and Vendor?

    • Contract

    • Inventory Supply Agreement

    • Service Level Agreement

    • Product Delivery Specification

    Correct Answer
    A. Contract
    Explanation
    Contracts are the type of master data that keeps information on agreements between the business and Vendor. Contracts are legally binding agreements that outline the terms and conditions of the relationship between the business and the vendor. It includes details such as pricing, delivery schedules, quality standards, and any other specific requirements agreed upon by both parties. Contracts help ensure that both the business and the vendor are aware of their rights and obligations, and provide a framework for resolving any disputes or issues that may arise during the course of the agreement.

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  • Current Version
  • Mar 19, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Jun 15, 2011
    Quiz Created by
    Timothy Johnson
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