A company makes the payment in a currency different from the invoice and ledger currency. What setup options are required to make the cross currency rate type the default?
A company makes the payment in a currency different from the invoice and ledger currency. What setup options are required to make the cross currency rate type the default?
To set the cross currency rate type as the default when a company makes payments in a different currency from the invoice and ledger currencies, you need to configure the settings that handle both payment options and common options for payables and procurement. Therefore, the correct options required are Manage Payment Options and Manage common options for Payables and Procurement.
Which method can you use to route payment approval rules?
The correct answer is Approval Groups. Approval Groups are collections of individuals who have permissions to approve or reject specific types of transactions, such as payment approvals. This method allows for more flexibility and control over the approval process by grouping approvers based on different criteria.
You need to enter a last-minute invoice during the close process. What is the quickest way to enter and post the invoice to general ledger?
The quickest way to enter and post an invoice to the general ledger during the close process is to enter the invoice in the Create Invoice page, choose the Validate option, and then the Account and Post to Ledger option. This method is straightforward and involves fewer steps compared to other options, ensuring the invoice is entered, validated, accounted, and posted efficiently.
You have invoices with distributions across primary balancing segments that represent different companies.
What feature should you use if you want the system to automatically balance your invoice's liability amount across the same balancing segments on the invoice distributions?
The feature to use if you want the system to automatically balance your invoice's liability amount across the same balancing segments on the invoice distributions is Payable's Automatic Offset. This functionality ensures that the liability and payment accounting entries are created with the same balancing segment values as the related invoice distributions, thus maintaining the balance across segments.
When creating a check payment, from where is the payment document defaulted?
When creating a check payment, the payment document is defaulted from the Bank Account. The bank account is directly associated with the specific checks and formats needed for the payment process, making it the default source for check payment documents.