Purchase Ledger - Introduction Quiz
This is a test to allow you to show us how much basic knowledge you have of the purchase ledger
- 1.
I have posted an invoice in the purchase ledger against account PIN01. The account total will get smaller.
- A.
True
- B.
False
Correct Answer
B. False -
- 2.
You can have master and transaction purchase ledger accounts. Pick the correct relationship between them from the list below.
- A.
A master account can be linked to many transaction accounts
- B.
A transaction account can be linked to many master accounts
- C.
A master account can only be linked to a single transaction account
- D.
The master account and transaction account must have the same account code
Correct Answer
A. A master account can be linked to many transaction accounts -
- 3.
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?
- A.
GRNI Report
- B.
Aged Creditor Report
- C.
Payments Due Report
- D.
Spend Analysis Report
Correct Answer
D. Spend Analysis Report -
- 4.
The logged invoice routine makes sure that only people with the correct authority can authorise an invoice or credit note.
- A.
True
- B.
False
Correct Answer
A. True -
- 5.
When I receive parts into stock via my parts department it adds an entry to the GRNI.
- A.
True
- B.
False
Correct Answer
A. True -
- 6.
There is an option to allow you to upload scanned documents when you post an invoice.
- A.
True
- B.
False
Correct Answer
A. True -
- 7.
Document scanning is an option which allows a user to........
- A.
Scan the invoice into pinnacle and post the invoice automatically
- B.
Upload a pre scanned document when posting an invoice/credit note
- C.
Scan the supplier invoice to the users PC / laptop
- D.
Scan any documents using the users screen
Correct Answer
B. Upload a pre scanned document when posting an invoice/credit note -
- 8.
When the parts department return a part to the supplier it adds a return note to the GRNI report.
- A.
True
- B.
False
Correct Answer
A. True -
- 9.
The purchase ledger contains the individual accounts of suppliers from whom the business has made purchases on credit.
- A.
True
- B.
False
Correct Answer
A. True -
- 10.
Reconciling is the process of checking a suppliers statement of accounts against ledger values and identifying any discrepancies.
- A.
True
- B.
False
Correct Answer
A. True -
- 11.
Within purchase ledger enquiry which one of the below can you not use to recall an account?
- A.
Post Town
- B.
Post Code
- C.
Account Code
- D.
Account Name
Correct Answer
A. Post Town -
- 12.
A purchase ledger is used to......
- A.
Maintain a list of debtors we owe money to
- B.
Maintain a list of suppliers who owe us money
- C.
Maintain a list of suppliers we owe money to
- D.
Maintain a list of customers who owe us money
Correct Answer
C. Maintain a list of suppliers we owe money to -
- 13.
GRNI stands for?
- A.
Goods Returned Not Initiated
- B.
Good Received Not Important
- C.
Good Received Not Invoiced
- D.
Goods Received Not Initiated
Correct Answer
C. Good Received Not Invoiced -
- 14.
The aged credit report shows how much we owe our suppliers and when the invoices are due.
- A.
True
- B.
False
Correct Answer
A. True -
- 15.
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 __________.
Correct Answer
down - 16.
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.
- A.
Account Description
- B.
Account Name
- C.
Account Reference
- D.
Account Code
Correct Answer
D. Account Code -
- 17.
Within an account enquiry you have the option to view historic transactions. All historic transactions created in Pinnacle are available.
- A.
True
- B.
False
Correct Answer
A. True -
- 18.
You can create a EFT file for upload into a bank via the remittance routine.
- A.
True
- B.
False
Correct Answer
A. True -
- 19.
Tick the three processes you would expect to be carried out using the purchase ledger
- A.
Code and check supplier invoices
- B.
Monitoring sales targets
- C.
Pay out money via EFT or by cheque
- D.
Check and reconcile supplier statements
Correct Answer(s)
A. Code and check supplier invoices
C. Pay out money via EFT or by cheque
D. Check and reconcile supplier statements -
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Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.
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Current Version
-
Aug 28, 2019Quiz Edited by
ProProfs Editorial Team -
Nov 12, 2015Quiz Created by
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