Accounts Payable

A ____________must approve ACH payments before they are processed.

administrator

A vendor credit is a ________________ transaction

standalone

___________ approval routing enforcing a strong AP Approval process

standard

You must print the check at the _____. NetSuite does not support printing checks in the _________of the page.

top, middle

After you submit and approve ACH payments, NetSuite transmits payment information to ______

Coastal

after enabling ACH payments, you must Apply to __________for an ACH processing account.

Coastal

In accounting preferences, APproval routing is available for: (8)

1. Expense Reports 2. Purchase Orders 3. Vendor Bills 4. Requisitions 5. Time Bills 6. Invoices 7. Purchase Contracts 8. Journal Entries

When you customize a check layout, you see only the check, no __________-, regardless of your check type preference.

vouchers

Payment processing also integrates with your __________-to capture funds for web orders.

website

When entering a vendor bill, this must be checked if you plan on doing a check run

"to be printed" check box

NetSuite supports the following types of funds disbursement: (3)

1. ACH vendor payments. 2. Direct deposit for payroll. 3. Electronic Payments.

NetSuite supports the following types of funds capture: (5)

1. Electronic Funds Transfer (EFT) 2. Credit card processing for sales orders and web store orders. 3. Alternative payment methods for web store orders. 4. PayPal Express for web store orders. 5. Electronic Payments.

There are three ways to create a vendor credit:

1. Manually 2. from the original vendor bill 3. directly from a vendor return

what are the 2 check types

1. default 2. voucher

Payment processing activities include handling of the following: (4)

1. invoice payments from accounts payable 2. settlements against credit card accounts 3. settlements against bank accounts for accounts receivable 4. Bank account transfers

If you have SuiteFlow, in addition to custom approval routing, you can do these 2 things

1. non-sequential approval process 2. conditional routing

If you use voucher checks, you can print a maximum of ___ line items on each check. If you have more than ___ line items for a single check, the items do not appear on the voucher.

19, 19

a standard check is ____ checks on a form

3

The _____________report provides a view of your payment history with vendors, organized by bills, and shows how your payments were applied to bills.

A/P Payment History by Bill

This report can be used to review contract employees billings, as well as other vendors' payables.

A/P Payment History by Bill

The ______________report provides a view of your payment history with vendors, organized by payment, and shows how those payments were applied to bills.

A/P Payment History by Payment

After the ____________feature is enabled, you can transfer funds electronically for vendors you have enabled for ACH payments.

ACH Vendor Payments

_____________are a process to authorize the transfer of funds from your bank accounts into your vendors' bank accounts to pay bills.

ACH Vendor Payments

____________ reflects debts resulting from purchasing assets or receiving services on credit or on an open account

Accounts Payable

The__________________ report lists all posting purchases from or payments to your vendors. These transactions are liabilities representing amounts owed to vendors for the purchase of inventory, goods or services.

Accounts Payable Register

Your administrator can customize the layout of your printed forms using _______________________

Advanced PDF/HTML templates

This report shows all unpaid bills in your accounts payable. In NetSuite, the A/P Aging Detail report shows individual bills owed each vendor, the age or exact number of days past due of each bill, the open balances for each vendor and a grand total for all vendors.

An Accounts Payable Aging

Vendor Bill status can default to ______ or _______ chosen in the accounting preferences

Approved or Pending Approval

__________-processing is used to process financial transactions through the ____Network for the Electronic Funds Transfer (EFT) feature.

Automated Clearing House (ACH)

ACH stands for

Automatic Clearing House

standard AP approval process ensures that ______ match their ____________

Bills match their Purchase Orders

Check this accounting preference if you prefer for the To Be Printed box to be checked by default when processing bill payments.

Default Vendor Payments to be Printed

The _________________- SuiteApp extends the processing capabilities of the Electronic Fund Transfer and ACH Vendor Payments features in NetSuite.

Electronic Bank Payments

The ________________SuiteApp enables you to process bank payments of your vendor bills, employee expenses, partner and employee commissions, and customer refunds, and also enables you to receive bank payments from customers

Electronic Bank Payments (formerly called NetSuite Electronic Payments)

Using ____________ _____________ ___________- you can generate payment files that contain instructions for facilitating electronic fund transfers between bank accounts

Electronic Bank Payments,

___________ provides ACH vendor payments that let you send vendor payments electronically to their bank

Electronic Funds Transfer (EFT)

____________- is a process that enables customers to authorize the transfer of funds from their bank accounts to your bank accounts to pay their invoices.

Electronic Funds Transfer (EFT)

The __________ SuiteApp extends the processing capabilities of EFT and ACH Vendor payment features

NetSuite Electronic Payment

_______________________ is globalized to support intrnational bank formats and routing

NetSuite Electronic Payments

Electronic Bank Payments SuiteApp is not compatible with the _________ feature

SuiteTax

Check this preference to include purchase orders that are entered but not yet billed when you make vendor credit limit calculations. This ensures that vendors do not have new orders entered over their credit limit.

Supplier Credit Limit Includes Orders

You can use an ____________________ report to find existing transactions and to track payable transactions. You can use an open bills report to see what bills still need to be paid.

accounts payable register

where do i go to do a check run

Transactions -> Management ->Print Checks & Forms -> Click checks

where do i enter a vendor bill

Transactions -> Payables -> Bill Purchase Orders

To enter bills directly and pay them as they become due, go here

Transactions -> Payables -> Enter Bills

you create a _____________ if you return merchandise to them or negotiate a discount after receiving an invoice.

Vendor Credit

Check this box to receive a warning when you exceed the credit limit for a vendor. The setting you choose is applied to all employees unless you enable an override and allow individuals to set their own preference.

Vendor Credit Limit Warnings

Once a bill is _________, the status cannot be changed

approved

You can apply a vendor credit to a _______on the credit transaction or on a __________transaction.

bill or vendor payment

process payments in ____________ or ___________ to accomodate physical, printed checks

check runs, individually

The Electronic Bank Payments SuiteApp also provides a _____________ ____________feature by generating a file format that contains information on all your issued checks

check verification

The __________ approval routing preferences allow you to use a more flexible process for approvals, using SUiteFlow workflow Manager

custom

The A/P Aging Detail report is

customizable

In NetSuite, someone with permission to access the Accounting Preferences page can choose to age bills and invoices by _______ dates or _________dates.

due or transaction

what does EFT stand for

electronic funds transfer

NetSUite Electronic Payments is globalized to support _____________ and ___________-

international bank formats and routing

you create a Bill in NetSuite after receiving a ________ from a vendor

invoice

a voucher check is ____ check at the top and ______ vouchers underneath

one, two

Bills that are pending status or rejected status cannot be ___________

paid

NetSuite offers several _________________ options to capture funds and disburse payments for your account. These features connect your accounts receivable and accounts payable processes with third-party payment systems, processors, and financial institutions to collect funds and make payments.

payment processing

before printing a check displays in _____ format on a new tab

pdf acrobat

A ___________________ transaction creates a credit, from a vendor, that can be applied to a payables account

vendor credit

You can enter a ____________ as a way to record a deposit paid on a purchase order (PO).

vendor credit

a ________ _________ transaction may occur when items are returned to a vendor or when a discount is negotiated with a vendor

vendor credit

a ___________ is an offset to your payables

vendor credit

You can apply _____________ to vendor bills when you make payments and it decreases the payable amount due to the vendor.

vendor credits