Set up Accounts Payables MB-800 Practice Questions (Page 2)

Questions 6–10

1. 6application · medium

   A new vendor requires payment within 14 days, but the standard payment terms in the system are Net 30. The AP manager wants to ensure that all purchase invoices from this vendor are automatically assigned the correct due date. What should the administrator configure?

   • AChange the default payment terms code in the Purchases & Payables Setup to 'NET14'.
   • BCreate a new payment term code 'NET14' with a due date calculation of '14D' and assign it to the vendor card.
   • CSet the 'Due Date' field on each purchase invoice manually after posting.
   • DCreate a payment discount code '14D' and assign it to the vendor card.
   Reveal Solution Discussion Select an answer first
2. 7application · medium

   A company wants to see the total amount due to a vendor as of a specific date. What should they do?

   • AOpen the Vendor Ledger Entries page and sum the amounts manually.
   • BRun the 'Vendor - Trial Balance' report with a date filter.
   • COpen the Vendor Card and view the 'Balance' field.
   • DRun the 'Vendor - Balance to Date' report with a date filter.
   Reveal Solution Discussion Select an answer first
4. 8application · medium

   A vendor invoice was posted with an incorrect amount. The company wants to correct it without deleting the original transaction. What is the recommended approach?

   • APost a general journal entry to adjust the vendor balance.
   • BPost a credit memo for the full amount and then post a new invoice for the correct amount.
   • CDelete the posted invoice and re-enter it with the correct amount.
   • DEdit the posted vendor ledger entry directly to change the amount.
   Reveal Solution Discussion Select an answer first
5. 9foundation · easy

   Which of the following is a typical configuration you can make in the Purchases & Payables Setup page?

   • ASet the default vendor posting group for new vendors
   • BSet up bank account reconciliation rules
   • CDefine the chart of accounts
   • DConfigure user permissions
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6. 10application · medium

   A company wants to post a payment to a vendor without applying it to any specific invoice. What should you do?

   • APost the payment in a general journal instead of a payment journal.
   • BLeave the Applies-to ID field blank on the payment journal line and post the payment.
   • CSet the Applies-to ID field to the vendor's number.
   • DSet the Applies-to ID field to 'UNALLOCATED'.
   Reveal Solution Discussion Select an answer first