Question 1

Your company accrues expense items at period end. Identify the report that must be generated before you run your receipts’ accrual period-end process.

Options :

A : Accrual Write-Off

B : Uninvoiced Receipts

C : Mass Additions Create

D : Accounts Payable Trial Balance

Answer: B

Question 2

You have received an invoice that requires an immediate payment. The next scheduled check run is not until the end of the week. Which two methods may you use to create the payment? (Choose two.)

Options :

A : Enter the invoice in the Invoice Workbench, and validate the invoice. Open the Payment Workbench and create a quick payment.

B : Enter the invoice in the Invoice Workbench, and validate the invoice. Open the Payment Workbench and create a manual payment.

C : Enter the invoice in the Invoice Workbench, validate the invoice, and select pay in full. This accesses the Payment Workbench and creates a quick payment.

D : Enter the invoice in the Invoice Workbench, validate the invoice, and select pay in full. This accesses the Payment Workbench and creates a manual payment.

Answer: A,C

Question 3

Which three types of invoices can be automatically generated (without any manual intervention), if the appropriate setup steps have been performed? (Choose three.)

Options :

A : interest invoices

B : recurring invoices

C : pay on receipt invoices

D : withholding tax invoices

E : purchase order (PO) matched invoices

Answer: A,C,D

Question 4

Company Z has implemented Payables, General Ledger, and Project Accounting. Both Transfer to GL and Interface Supplier Costs are processed each night. A descriptive flexfield called “SAI Value” has been defined on the invoice header to capture additional information, and is used in conjunction with the accounting on the invoices. This is not a required field. There is a corresponding user-defined hold called “SAI Hold”, which is manually applied whenever an invoice is created and the “SAI Value” has not been provided to Company Z by the supplier. During weekly reviews of accounting, users have found that invoice transactions that are on “SAI Hold” are displayed in Project Accounting but not in General Ledger. Select what is causing this issue.

Options :

A : Invoices have not been validated.

B : The current General Ledger period is closed.

C : The current Project Accounting period is closed.

D : The Payables Accounting process has not been run.

E : Accounting is not being created by the user-defined hold.

F : The descriptive flexfield field must be a required field, and not an optional field.

Answer: E

Question 5

Identify the four reports you must run when reconciling invoices and payments to the Accounts Payable Trial Balance Report. (Choose four.)