Purchase Ledger - Introduction Quiz

1. GRNI stands for?

Goods Returned Not Initiated

Good Received Not Important

Good Received Not Invoiced

Goods Received Not Initiated

Submit

3. Reconciling is the process of checking a suppliers statement of accounts against ledger values and identifying any discrepancies.

True

False

4. In the screenshot below we have an account enquiry screen. A field name has been removed as highlighted by the red box. Tick the missing field from the list below.

Account Description

Account Name

Account Reference

Account Code

5. When I receive parts into stock via my parts department it adds an entry to the GRNI.

True

False

6. A purchase ledger is used to......

Maintain a list of debtors we owe money to

Maintain a list of suppliers who owe us money

Maintain a list of suppliers we owe money to

Maintain a list of customers who owe us money

7. The aged credit report shows how much we owe our suppliers and when the invoices are due.

True

False

8. Within an account enquiry you have the option to view historic transactions. All historic transactions created in Pinnacle are available.

True

False

9. There is an option to allow you to upload scanned documents when you post an invoice.

True

False

10. The logged invoice routine makes sure that only people with the correct authority can authorise an invoice or credit note.

True

False

11. I have posted an invoice in the purchase ledger against account PIN01. The account total will get smaller.

True

False

12. You can have master and transaction purchase ledger accounts. Pick the correct relationship between them from the list below.

A master account can be linked to many transaction accounts

A transaction account can be linked to many master accounts

A master account can only be linked to a single transaction account

The master account and transaction account must have the same account code

13. When the parts department return a part to the supplier it adds a return note to the GRNI report.

True

False

14. Within purchase ledger enquiry which one of the below can you not use to recall an account?

Post Town

Post Code

Account Code

Account Name

15. If we were looking for a report to show how much we had spent with our suppliers over the last 12 months, which report would we use?

GRNI Report

Aged Creditor Report

Payments Due Report

Spend Analysis Report

16. The purchase ledger contains the individual accounts of suppliers from whom the business has made purchases on credit.

True

False

17. Tick the three processes you would expect to be carried out using the purchase ledger

Code and check supplier invoices

Monitoring sales targets

Pay out money via EFT or by cheque

Check and reconcile supplier statements

Submit

18. You can create a EFT file for upload into a bank via the remittance routine.

True

False

19. Document scanning is an option which allows a user to........

Scan the invoice into pinnacle and post the invoice automatically

Upload a pre scanned document when posting an invoice/credit note

Scan the supplier invoice to the users PC / laptop

Scan any documents using the users screen

20. Choose the correct matches to describe the parts receipt to invoice posting in the purchase ledger.

First I would

Then I would look at my

When the invoice arrives from the parts supplier

When posting the invoice I would

Submit

Purchase Ledger - Introduction Quiz

1. GRNI stands for?

2.

What first name or nickname would you like us to use?

2. Please fill in the blank with the word up or down. When I post a credit note to a supplier account in the purchase ledger the total against the account goes __________.

3. Reconciling is the process of checking a suppliers statement of accounts against ledger values and identifying any discrepancies.

4. In the screenshot below we have an account enquiry screen. A field name has been removed as highlighted by the red box. Tick the missing field from the list below.

5. When I receive parts into stock via my parts department it adds an entry to the GRNI.

6. A purchase ledger is used to......

7. The aged credit report shows how much we owe our suppliers and when the invoices are due.

8. Within an account enquiry you have the option to view historic transactions. All historic transactions created in Pinnacle are available.

9. There is an option to allow you to upload scanned documents when you post an invoice.

10. The logged invoice routine makes sure that only people with the correct authority can authorise an invoice or credit note.

11. I have posted an invoice in the purchase ledger against account PIN01. The account total will get smaller.

12. You can have master and transaction purchase ledger accounts. Pick the correct relationship between them from the list below.

13. When the parts department return a part to the supplier it adds a return note to the GRNI report.

14. Within purchase ledger enquiry which one of the below can you not use to recall an account?

15. If we were looking for a report to show how much we had spent with our suppliers over the last 12 months, which report would we use?

16. The purchase ledger contains the individual accounts of suppliers from whom the business has made purchases on credit.

17. Tick the three processes you would expect to be carried out using the purchase ledger

18. You can create a EFT file for upload into a bank via the remittance routine.

19. Document scanning is an option which allows a user to........

20. Choose the correct matches to describe the parts receipt to invoice posting in the purchase ledger.