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Answer the following questions to see what you learned

1.

What is the purpose of an invoice register journal?

To use as a voucher template

To enter and then post invoices when they arrive

To display information about invoices that are pending approval

To preregister invoices when they arrive, and then transfer them to an invoice pool for approval

2.

Which one of the following parameters in a Payment proposal would you use if the method of payment is set up to Total invoices for payment on a specific day?

Payment for each invoice

Payment for sum of invoices

Payment currency

Payment weekday

3.

When you’re setting up the Payment for each invoice parameter in Payment proposal, which one of the following settings should you also set to handle the following scenario? A vendor has an unsettled invoice and payment. The unsettled invoice and the payment are selected for payment, and the amounts are added to produce the total payment amount.

Set Delete negative payments to No

Set Delete negative payments to Yes

4.

Which one of the following statements is true?

Use a Vendor invoice recording journal type to record an accounts payable credit memo.

You can’t use a credit memo to settle against an invoice after the credit memo is posted.

Use a vendor payment journal to create a credit memo.

Use a Vendor invoice register to record an accounts payable credit memo.

You must answer all questions before checking your work.

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