P2p01 - Purchase To Pay Overview - Kc - Quiz, Trivia & Questions

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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P2p01 - Purchase To Pay Overview - Kc

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

Quiz Preview

What are 2 components of P2P?

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

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

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

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

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