Online Access Free 1Z0-517 Exam Questions

What are the three prerequisites for interfacing Payables invoice lines with Assets? (Choose three.)

• A.The invoice has been transferred to General Ledger.
• B.The distribution account is an Asset Clearing or CIP account.
• C.The invoice distribution has "Track as Asset" selected.
• D.The invoice has no holds.
• E.The invoice must be posted to General Ledger.

Suppliers play an important part in the Procure-to-Pay process.
Select three activities that you must perform using a supplier. (Choose three.)

• A.You need supplier information for entering purchase orders.
• B.You need a supplier as the criterion to search for a payment in the system.
• C.You must pay the supplier for the goods or services purchased.
• D.You need a supplier as the criterion to search for purchase orders in the system.
• E.You receive goods or services from suppliers.

ABC Corp. requires that all invoices are matched to both a purchase order and a receipt. Invoice tolerances are set to zero.
A standard purchase order is entered for consulting services. An invoice is entered and matched against a purchase order. The total invoice amount matches the distribution amount.
When the steps to prepare the invoice for payment are completed, the invoice is placed on hold. The company's business policy states that all holds cannot be manually released.
To pay the supplier, identify the step to be completed to remove the hold and be eligible for payment.

• A.The service must be received in Purchasing because three-way matching is required.
• B.Inspection is required because it is a three-way match.
• C.Change the invoice tolerances in the Payables Options form to be greater than zero, so that the invoice does not go on hold again.
• D.Manually release the hold because it is not a system hold.
• E.The service must be received in Accounts Payable because it is a purchase order for a service and not a commodity or item.

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

• A.Payables Transfer to General Ledger Reports
• B.Posted Invoices Report
• C.Posted Payments Report
• D.Accounts Payabale Trial Balance - current period
• E.Void Check Register
• F.Accounts Payable Trial Balance - prior period
• G.Account Analysis - (132 Char) / Account Analysis - (180 Char).

Identify three prerequisites for processing manual payments in Payables. (Choose three.)

• A.Create the payment outside Payables.
• B.The invoice must have the same currency as the payment.
• C.The invoice must have a different currency from that of the payment.
• D.Create the payment inside Payables.
• E.The invoice must be validated.