5. Accountant Certification - AP Process

Question 1

Enter, approve, pay and reconcile

Answer 1

The steps in payables

Question 2

Q: In a small organization, which role may not be required? A. Clerk B. Administrator C. Approver D. Payer

Answer 2

A: C is correct - Approver

Question 3

Q: If a company is using approval workflows, which 2 roles/permissions should be separated? A. Process documents and enter bills B. Review and approve bills C. Approve and pay bills D. Schedule payments and manage cashflow

Answer 3

A: C. Approve and pay bills

Question 4

Q: Joy is a Clerk and receives a message that a mistake of $100 has been submitted on a vendor invoice. After clicking Settings > Payables > Approvals, Joy finds that changes can be made until all 3 approvers have authorized payment. With that in mind, which of the following is true? A. If the bill is fully approved, Joy can still make updates B. Joy should delete the bill and start over with the changes C. With only one approver left to approve, the changes can still be made.

Answer 4

A: C is correct - With only one approver left to approve, the changes can still be made