Accounts Payables Frequently Asked Questions

1. What are the types of invoices?
2. What is difference between debit memo and credit memo?
3. What is meant by with-holding tax invoice?
4. What are the mandatory setups in AP?
5. What is the difference between PO default and quick match?
6. Use of recurring invoice?
7. Steps for payment batch?
8. Purpose of Payable invoice open interface?
9. Payable open interface import? (Expense Report Import)
10. Multi Currency payments?
11. Can we implement MRC at Payables?
12. Use of Distribution set?
13. Accounting Methods?
14. Use of automatic offset method?
15. What does the Unaccounted Transaction Sweep Report do?
16. What reports should I run before closing the period?
17. What is the program to transfer data from AP to GL?
18. What is meant by void payments?
19. What are the types of journal categories available in the AP?
20. What is meant by matching and what are the types of matchings available?
21. Types of Prepayments? And difference between them?
22. What is a Hold and Release
23. How to approve ‘n’ no. of invoices
24. What is Zero-Payment in AP
25. What is Proxima Payment Terms?
26. What are the tables associated with Invoice?
27. Which interface tables are used for Invoice Import?
28. What is 2 way, 3 way and 4 way matching?
29. What is Interest Invoice and how it can be created?
30. How many key flexfields are there in Payables?
31. Can you cancel the invoice? If yes, explain?
32. What is pay date basis?
33. What is terms date basis?
34. What is the report used to identify duplicate suppliers?
35. Difference between header level tax calculation and line level tax calculation?
36. What is meant by accrual write off?
37. Difference between quick payment and manual payment?
38. Use of Future dated payments?
39. Tell me steps for Period closing Process in AP?
40. Payable And Financial options?
41. What is meant by third party payments?
42. How to transfer funds between your internal banks?
43. Invoice Approval Process?
44. Can I find out which invoices are matched to a PO?
45. What is Intercompany Invoicing?
46. ERS Invoice means?
47. Use of Pay on receipt auto invoice?
48. What is meant by RTS transactions?
49. What are the steps to define a Bank?
50. Payment Methods?