Online Access Free 1Z0-517 Exam Questions

You are scheduling multiple payments to pay an invoice amount of $1,000 over multiple dates.
Describe the process for scheduling one payment of $600 and a second payment of $400.
1. Go to the Scheduled Payments tabbed page of the Invoices form.
2. Keep the original invoice amount of $1,000.
3. Let the due date default to the first scheduled payment date.
4. Adjust the gross amount from $1,000 to $600.
5 Click the Split Schedule button.
6. Update the due date on the new line item to the last scheduled payment date.

• A.2, 1, 3, 4, 5, 6
• B.3, 4, 5, 6
• C.1, 5, 2, 3, 4, 6
• D.1, 2, 3, 5, 6

Identify three considerations for implementing internal controls for payment processing. (Choose three.)

• A.proper segregation of duties
• B.fewer payment runs
• C.credentials of the payment processing staff
• D.physical security
• E.amend payment methods

Which is the final step in processing a payment batch?

• A.Run the create accounting process.
• B.Confirm the payment batch.
• C.Transfer the batch to General Ledger.
• D.Cancel the payment batch.
• E.Validate the payment batch.

Identify the two methods that are NOT used to enter invoice distributions. (Choose two.)

• A.matching the invoice to a shipment
• B.using a distribution set
• C.using the Distributions Open Interface
• D.manually entering in the distributions window
• E.creating through allocations

Which three statements are true about prepayments? (Choose three.)

• A.You cannot enter prepayments invoices in the Quick Invoice window.
• B.A prepayment is a type of invoice that you enter to make an advance payment to a supplier or employee.
• C.Temporary prepayments can be applied to invoices or expenses reports. Permanent prepayments cannot be applied to invoices.
• D.It is not necessary to void the payment document that paid the prepayment to cancel an applied prepayment. You simply need to unapply the prepayment and cancel it.
• E.You can only partially apply a prepayment to an invoice if the prepayment is partially paid.
• F.You cannot change a permanent type prepayment to a temporary type prepayment.